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Weekend February 27, 2015
Real EstateWeeklyWeeklyYour Best Source For Weekly Real Estate News And Listings For Stillwater And Surrounding Communities
4919 Ja Linda Lou - THIS ELEGANT HOME boasting more than 2500 sq. ft. & nestled on a quiet cul-de-sac is perfect for entertaining with the formal dining room adjacent to the living area. The gorgeous offi ce is lined with wood bookcases & has a built-in desk. The master suite in this 3 bedroom, 2 ½ bath home is on the fi rst level and features a corner tub & tile shower. Contact Gina Killough 405-612-2210 or [email protected] $288,750
These homes offered by RE/MAX Signature(405) 533-3000 • 1333 S. Western
1109 E. Camden Ln. - A BEAUTIFUL GARDEN HOME which has it all! Neighborhood putting green, walking trail, stocked pond and a pool built into the deck! The 9’ ceilings, large bedrooms & closets, and full-sized windows looking out toward the pond give this garden home a very spacious feel. Other features include: wood fl oors in entry & living room, stained concrete fl oors in the kitchen & laundry room, granite counter tops, and a separate storage closet in the garage. Front lawn maintenance is provided by home owner’s association. Contact Denise Talley 405-269-9137 or [email protected] $165,000
InsideInside
To a d v e r t i s e y o u rTo a d v e r t i s e y o u rh o m e i n t h eh o m e i n t h e
R e a l E s t a t e W e e k l y , c a l lR e a l E s t a t e W e e k l y , c a l l( 4 0 5 ) 3 7 2 - 5 0 0 0 .( 4 0 5 ) 3 7 2 - 5 0 0 0 .
This Week: R e c e n t s t o r m s p a r k s i n t e r e s t i n a n e w g e n e r a t o r . . . . . . . . . . . . . . . . . . . . Pa g e 3
P l a n t i n g b a r e r o o t t r e e s . . . . . . . . . . . . . . . . . Pa g e 8
R e a l E s t a t e W e e k l y i s R e a l E s t a t e W e e k l y i s a v a i l a b l e o n l i n e ! a v a i l a b l e o n l i n e !
G o t o o u r w e b s i t e a tG o t o o u r w e b s i t e a tw w w . s t w n e w s p r e s s . c o mw w w . s t w n e w s p r e s s . c o m
a n d d o w n l o a d t h e c u r r e n t a n d d o w n l o a d t h e c u r r e n t P D F e d i t i o n f o r F R E E !P D F e d i t i o n f o r F R E E !
Weekly Features:A b o u t R e a l E s t a t e ...........Page 2
C l a s s i f i e d s .............................Page 5
M a p ............................................Page 6
Spouses whorecently split uphave options whenit comes to declar-ing the profits fromthe sale of a home.
DEAR MR.MYERS: My hus-band and I filedfor divorce abouta year ago. Wesold our longtimehome and splitthe profits about60 days ago, butthe divorce itselfwasn’t finalizeduntil Feb. 2 ofthis year. Howwill this affectour tax-filing sta-tus when webegin our 2014income-taxreturn? Also, howwill this affectthe $42,000 weeach got from thehome’s resaleproceeds?
ANSWER: Yourmarital status onDec. 31 of anygiven year deter-mines the choicesyou have whenselecting your tax-filing status.Though you wereofficially divorcedjust a few weeksago, you were stilllegally married atthe end of 2014.That means youand your ex-spousecan choose the“married filingjointly” status or“married filing sep-arately.”
Quirks in theincome-tax lawtend to make jointfiling more attrac-tive by boosting acouple’s refund orby lowering theamount of anytaxes that may beowed. Talk to an
accountant or othertax expert fordetails.
Regardless ofwhich filing statusyou select, themoney you receivedfrom the resaleprofit of your homewon’t have anyeffect on your fed-eral income-taxreturn. If youchoose the joint-fil-ing route, the twoof you would quali-fy to keep a com-bined $500,000 inprofit tax-free if thehome has beenyour primary resi-dence for at leasttwo of the past fiveyears. Should thetwo of you insteadfile separately,you’d each get tokeep up to$250,000 in profitaway from theclutches of theInternal RevenueService.
Your letter statesthat you each made$42,000 from thesale, for a combinedtotal of $84,000, sono taxes would beowed on the profitwhether you filejointly or separate-ly. Get a free copyof Internal RevenueService Publication523, Selling YourHome, by callingthe agency at 800-829-3676 or bydownloading itfrom www.irs.gov.
* * *DEAR MR.
MYERS: Is it truethat GeorgeWashington wasonce one of thelargest landown-ers in the UnitedStates?
ANSWER: Yes.He owned thou-
sands of acres,spread across sev-eral states -- fromthe verdant OhioValley, east to NewYork and south toWashington, D.C.But the crownjewel of his hold-ings was his 7,000-acre Mt. Vernonestate in Virginia,which is now opento the public mostlydue to the hardwork and fundrais-ing efforts by thenonprofit MountVernon Ladies’Association.
To his credit,PresidentWashington, whowas born Feb. 22,1732, wrote in hiswill that all of his123 slaves wholabored at Mt.Vernon were to befreed upon hisdeath, whichoccurred in 1799.At the time, hisnationwide realestate portfoliotopped a staggering52,000 acres.
Over the cen-turies, Feb. 22 hasbeen an importantdate in U.S. realestate history.That’s the datethat, in 1819, Spainrenounced its claimto what was thencalled “OregonCountry,” a disput-ed region in pre-sent-day Florida,Alabama andMississippi, andclosed the dealexactly two yearslater for a paymentby Uncle Sam of $5million.
On Feb. 22, 1825,Russia and Britainestablished what isnow the borderbetween Alaskaand Canada.
Exactly 64 yearslater, the Dakotas,Montana andWashington statewere admitted tothe Union. Hawaiibecame an officialU.S. Territory onthis day in 1900.
MYERS: Yourecently wroteabout RikersIsland, theprison facility inNew York City. Isthat the sameplace that thepolice on allthose cop showscall “TheTombs"?
ANSWER: No.“The Tombs” is thenickname for thesouthern buildingin the ManhattanDetentionComplex, two high-rise jails in LowerManhattan thatare just steps awayfrom several court-rooms and relatedjudicial agencies.
The Tombs holdabout 900 prison-ers daily, all ofthem males who
are awaitingarraignment withina day or two. Thenickname stemsfrom the originaljail’s Egyptian-stylearchitecture, whichreminded manyNew Yorkers of apharaoh’s finalresting place.
The original facil-ity was built in1838 and has sincebeen replaced by amodern complex,but its moniker hasstuck with genera-tions of residents inthe Big Apple.
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ABOUT REAL ESTATE
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Hear it
FIRST
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Storm sparks interestin a new generatorBy Ed Del GrandeTribune News Service
Q: Dear Ed,With the latest
winter storm, Ifound myself inline again at thegas station wait-ing to fill myportable genera-tor gas cans.Earlier this yearyou wrote an arti-cle about standbyhome generatorsthat operate withnatural gas orpropane. Can youplease go oversome of that infor-mation again? Ithink I’m nowready to installthis type of sys-tem.
– Pat, RhodeIsland
A: Investing in apermanentlyinstalled standbyhome generator canreally pay off. Notonly for the backuppower protection,but a professionallyinstalled standbygenerator systemcan also be a valu-able home asset.
Because standbygenerators run onnatural gas orpropane and arehardwired into ahome’s electrical sys-tem, they’re alwaysready to go at amoment’s notice. Aspecial transferswitch controls moststandby generatorsystems and auto-matically turns thegenerator on whenelectrical power islost.
This all soundsgood, but keep a fewthings in mind ifyou’re thinkingabout installing one.
First, this is not ado-it-yourself project.You need to workwith a licensedstandby generatordealer/installer withneeded permitstaken out. Localdealers may befound on standbygenerator manufac-turer websites.
Second, plan toinstall in spring orsummer, because theinstallation processmay take extra timeto complete.
Purchasing a newhome is an impor-tant decision, onewhich should becarefully consid-ered. If you’re afirst-time homebuy-er, it’s important tofind a qualifiedmortgage specialistto help you deter-mine if home own-ership is right foryou. It’s also benefi-cial to familiarizeyourself with thehome buyingprocess, whichinvolves six steps.
1. Decide to Buy2. Organize
Paperwork3. Shop for a
Home4. Prepare an
Offer5. Secure a
Mortgage6. Close the Deal! If you are unpre-
pared and unawareof the mortgageprocess, buying ahome may be frus-trating and confus-ing. With a bit ofknowledge, organi-zation and a quali-fied, trustworthymortgage specialist,your first-timehome buying expe-rience can besmooth sailing.
Over the nextseveral weeks, I’mgoing to walk youthrough each of thesix home buyingsteps in-depth.Let’s begin.
Step 1: Decideto Buy
You’ve made thedecision that youwant to own ahome. Before youdo anything else,ask yourself somequestions:
Why? What areyour personal rea-sons for wanting toown a home? Makea wish list of wantsversus needs andrank them as veryimportant, wouldlike to have, notimportant to do notwant. In your list,include details likehome type (singlefamily, townhome,split level, lot size,etc.), construction(brick, rock, numberof bedrooms, fire-place, etc.) andamenities (pool,wireless, neighbor-hood, schools, etc.).Don’t skimp on the
details.How long do
you plan to own ahome? If you’replanning to move ina couple years, rent-ing may be morecost-effective. Talkwith a mortgagespecialist to figureout how long itwould take for youto break even onyour expected homepurchase. Ask themto help you with arent versus buyanalysis, whichhelps determine thebetter option foryou.
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Global Realtors131 N. Main • Stillwater
CENTURY 21: Smarter, Bolder, FasterOFFICE (405) 624-2626
3204 N. Redlands - Brick 3 Bed/2 Bath/10ac.....$249,9003204 N. Redlands - Brick 3 Bed/2 Bath/10ac.....$249,9003424 S. Husband - 4 bed/3 bath, 2.5 Acre Lot....$283,0003424 S. Husband - 4 bed/3 bath, 2.5 Acre Lot....$283,000
Located in the heart of downtown, this 3 story structure predates statehood. Over 16,000 sq. ft. of Oklahoma history waiting to rejoin the downtown scene. Many
attractive incentives available from historical renovation and Business Improvement District. Listing Realtor has an ownership interest in property. Offered at $400,000.
LEASE AVAILABLE
Home buying steps
MICHAEL DECKER
MortgageMatters
See ➤ Home, page 7
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PUBLISHER’S NOTICE:All real estate advertised herein is subject to the Federal Fair Housing Act, which makes it illegal to advertise “any preference, limitation, or dis-crimination because of race, color, religion, sex, handi-cap, familial status or national origin, or intention to make any such preference, limitation or discrimination.”
This newspaper will not know-ingly accept any advertising for real estate which is in violation of the law. All persons are here-by informed that all dwellings advertised are available on an equal opportunity basis.
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Real Estate Sales
Classifi edsView classifi eds online at: We accept:www.stwnewspress.com
Place a Classifi edCall: 405-372-5000or Send a Fax: 405-372-3112Hours are 8:00 am - 5:00 pm Monday - Friday Call Gracie at Ext. 240 or 241
• All Open Houses are Sunday unless otherwise indicated. • Open Houses may be cancelled in case of inclement weather.
If you have questions, please call the hosting REALTOR®.
RE/MAX Signature1. 317 E. Audene 1-2 ................................... Audrey
OPEN HOUSE McMurtry R
Richmond
indicated.ement weather.REALTOR®.
MapMapWeek of Sunday, March 1, 2015
1
Do you haveenough cash for adown paymentand closingcosts? How muchdo you have savedup? Do you knowyour expectedcosts? Will youhave money leftover for the nextmortgage payment,bills, food, gas, etc.?Don’t hesitate tospeak with a mort-gage specialist whocan help you deter-mine what price ofhome you may beable to afford andwhat loan optionsyou may qualify for.There is no obliga-tion to buy, butknowing up frontwhat your expectedcosts will be willhelp you plan andprepare.
Can you affordthe monthly pay-ments, bills andhave money left-over? When youdetermine whathome price yourcan afford, carefullyweigh your abilityto pay the monthlypayments, alongwith all your otherexpenses? Justbecause you qualifyfor a certain homeprice, doesn’t meanyou can financiallyafford the monthlypayment. A mort-gage should take nomore than one-third of your grossincome, but onlyyou know yourlifestyle and spend-ing habits. Makesure you take allyour monthlyexpenses intoaccount whendetermining yourability to pay a
monthly mortgage.Do you need a
tax break? Inmost cases, rentersdon’t get a taxbreak, homeownersdo! You are able todeduct the interest
and mortgage insur-ance on your mort-gage loan and prop-erty taxes. Consultyour tax accountantfirst to discuss howpurchasing a homemay benefit you.
Ask yourself a lotof questions anddon’t feel pressuredto buy if you are notfully ready to com-mit to home owner-ship. There is a lotto owning a home
after the purchase,such as mainte-nance, lawn care,utility bills andassociation fees.Think through thisfirst step carefullybefore you move on
to step two, organizepaperwork, which Iwill cover next time.
Opinionsexpressed above arethe personal opin-ions of MichaelDecker and meant
for generic illustra-tion purposes only.RCB Bank is anEqual HousingLender. RCB BankNMLS #798151.Michael DeckerMLO# 370522.
23 Summit Circle 2 BD/ 2 BA/ 1430 sq ft REDUCED $5000 $105,000 Jerika
805 Park Place SALE PENDING $130,000 Connie
6821 Fawn Creek Rd SALE PENDING $130,000 Connie
9311 S Mehan Rd 2 BD/ 2 BA/ 1414 sq ft $134,900 Connie
2301 W 9th Ave SALE PENDING $155,000 Mary/ Mike
1611 S Hillside St SOLD $167,000 Connie
1706 S Westridge St SALE PENDING $175,000 Mike/Mary
2015 E Mathews Ave SALE PENDING $179,000 Connie
705 E Macy Lane SOLD $199,500 Paulette
1005 S Woodcrest SALE PENDING in 1 Day! $210,000 Mary/ Mike
5002 W 2nd Ave SOLD $235,000 Mike/ Mary
HomeContinued from page 4
In general terms,the odds of a suc-cessful tree planti-ng can be signifi-cantly increased ifthe planting is donein the fall.
Fall plantingallows the tree timeto begin to developits root systemwithout the stressof supplying waterto rapidly growingleaves. However, asin most thingsplant related, thereare exceptions.Bare root trees areone of those excep-tions.
Planting bareroot trees in thespring is not asmuch an optimalplanting time issueas it is a plantavailability issue.Bare root treesmust be dug andprepared for deliv-ery when they aredormant and keptin cold storageuntil delivery. Thismeans a springplanting for us.
Consider the fol-lowing suggestionswhen planting yourbare root trees andshrubs.
As soon as thetrees arrive,unpack and checktheir condition.Cover the rootswith damp cloth orpaper (shreddedpaper works verywell) and storethem in a dark,cool area.Immediately priorto planting, soakthe tree roots in abucket of cleanwater for severalhours. This will
help the plantbegin to wake fromdormancy.
Now is a goodtime to remove anylabels or othertape/markingmethod that mightcause girdling asthe plant grows.This is one of thoseseemingly simplelittle tasks thatoften get over-looked-causingproblems later on.It is also the per-fect time to recordthe exact name ofthe plant in yourgarden journal.
Prepare the
planting hole bydigging much widerthan the root massbut no deeper. Thisis an importantstep as it givesplenty of loose soilfor roots to begintheir lateralgrowth.
Digging the holedeeper than neededis likely to causesettling, leavingyou with a treethat is buried toodeeply. This is acommon cause fortree failure, espe-cially in tight soils.The uppermostroots should be justbelow the soil sur-face when the treeis planted. Anygraft unions shouldremain above theground.
Staking shouldbe on an as-neededbasis. If the tree isvery small, it maydo fine without
staking. This canbe beneficial aslong as the treedoes not movearound in the windtoo much. If it islarger or has awell-developedbranching struc-ture, staking atplanting is advised.Some upper trunkmovement is fine aslong as the base ofthe tree does notmove around.
Finish the instal-lation with a goodwatering and thenapply several inch-es of mulch aroundthe planting area.The larger themulched area, thelesser the competi-tion for valuablemoisture and nutri-ents. As an exam-
ple, a four foot cir-cle around a newtree would not beexcessive.
Concerning theaddition of fertiliz-er or soil additives,if a soil test indi-cates a need for aparticular nutrient,it can be incorpo-rated into the backfill soil or appliedas a top dress.Avoid piles of fertil-izer as direct con-tact with the rootscan cause prob-lems.
Additives such aspeat moss or pot-ting soil should beavoided as they cancreate a “flowerpot”effect. This is a sit-uation where theplant has no needto develop roots
into the surround-ing soil becauseeverything is readi-ly available closeby. This is anothercommon cause offailure as the plantmatures.
For more infor-mation of this orany other horticul-tural topic, you cancontact Keith Reed,the Horticulturistin the PayneCounty Extensionoffice. Keith can bereached via emailat [email protected], phoneat 405-747-8320, orin person at thePayne CountyExtension office,located at 315 W.6th in Stillwater.
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Charming Craftsman style with irresistible front porch sitting on 11 acres with a barn, kennels, cross-fencing, a shop and a
pool. Here is where you can settle in and enjoy the country life in style. Easy commute to Stillwater, Perry, Guthrie or Enid.
Four bedrooms, two bathrooms, all updated. Modern kitchen, very nice. Good sized usable basement for laundry, projects,