Oklahoma City, OK – Newest Figures for New Home Sales Suggest Market Drop is Subsiding

New home sales dropped year-over-year in November in the Oklahoma City, OK market, but with a percentage fall less harsh than October 2011, there are suggestions the market may be stabilizing. There was a 13.2% drop in new home sales from a year earlier. This was after the housing market saw an 18.7% drop year-over-year in October.

A total of 3,004 new homes were sold during the 12 months that ended in November, down from 3,036 for the year that ended in October.

New home sales accounted for 13.2% of overall housing sales, down from the 14.5% of sales a year earlier. Following a year-over-year decline in October, sales of new and existing homes also slipped year-over-year in November.

Pricing and Mortgage Trends

The average price of newly sold homes jumped year-over-year 15.6% in November to $210,144 per unit. This lift follows a move from $208,197 per unit to $209,282 from November 2009 to October 2011.

For newly sold homes, the average mortgage size grew year-over-year along with new home prices. The average mortgage size rose to $184,040 in November, marking an 11.7% surge compared with a year earlier. In October 2011, average mortgage size on newly sold homes saw an 8.5% rise year-over-year from a year earlier. For new home sales, the percentage of the sale price that was being financed declined 3.1 percentage points year-over-year to 87.6% in November 2011. In October 2011, there was a 6.4 percentage point rise from a year earlier.

Other Market Trends

The percentage of new home sales belonging to single-family homes has risen from last year while the portion of new home sales belonging to attached units has dropped. Single-family home sales gained from 96.7% of new sales in November 2010 to all of sales in November 2011. Conversely, the share of new home sales belonging to attached units fell to no part of sales from 3.3% of sales.

For all new homes sold, the average unit size fell 1.0% year-over-year to 1,990 square feet in November 2011. For newly sold homes, an average size decline contrasting with an average price gain was also seen in October 2011 when the average size of newly sold homes dipped 3.8% to 2,019 square feet.

Foreclosures and real estate owned (REO) sales remained level in November from a year earlier, but remained a burden on the market. Out of all existing home sales, foreclosures combined with REO sales made up 27.4% of sales, relatively unmoved from a year earlier. The percentage of existing home sales involving foreclosures slipped to 15.5% in November from 17.4% a year earlier while REO sales as a percentage of existing home sales increased to 11.9% from 10.4%.

Please refer to the ABOUT THIS MSA tab to learn more about geographic coverage and data availability in this market area.
Source:Housing Intelligence

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Cooking up the Latest in Kitchen Trends

Kitchens have always been the center of a house. It’s where everyone congregates at a party, regardless of the host’s intentions. It’s where the mail, the keys and the family news are dropped on the way in. The kitchen is so important to most people that it is the feature most likely to make or break the purchase of a home.

Not surprisingly, the kitchen is a lightning rod for design and lifestyle trends. In addition to such products as cabinets, appliances, and plumbing fixtures (to name only a few), the layout, function, and look of the kitchen continually evolves to meet contemporary lifestyle and needs. Here are a few current trends to consider:

Outdoor kitchens. Once you experience a true outdoor kitchen with a full range of function, you’ll never go back to a rollout charcoal grill again. Outdoor kitchens have become a legitimate industry. Manufacturers offer improved products that better withstand the weather (such as polymer-based cabinet fronts) and refreshment centers that more aptly accommodate outdoor needs, such as snacks and beverages.

New fronts. Raised-panel cabinet fronts are a mainstay in kitchens, but the natural wood look is waning a bit in favor of paint finishes in deep reds and lighter greens. Designers mix and match painted and natural-wood finishes to add distinctive style and to identify subtle differences in function. For appliances, popular stainless steel finishes have evolved into brushed metallic and graphite-like looks to broaden the options and upgrade style.

Secondary kitchens. Also called butler’s pantries or prep kitchens, these smaller spaces allow caterers and party-throwers to keep the mess out of the main kitchen (where, as we said, everyone gathers) while also creating a convenient access to food and refreshments from the dining room. Smaller-scale appliances, including warming drawers, built-in coffee makers, and wine chillers, not to mention specialty storage options, suit the function of these spaces. Morning kitchens, located in or adjacent to the master suite, are also gaining popularity.

Specialization. Once upon a time, there was only one sink in the kitchen. Now, there can be a handful, serving specific functions and equipped with varying styles of faucets. Long trough sinks, multi-basin designs with integral cutting boards, small bar basins, and deep, single-basin sinks for large pots and pans can dot every corner of the kitchen.

Zoned approach. The advent of secondary spaces has affected the main kitchen. Smaller-capacity appliances and other products have fostered “snack zones” for busy families. Equipped with a microwave oven, dedicated storage for non-perishables, and various undercounter drawers for refrigerated foods, dishwashing, and warming chores, these zones accommodate a wider (and hopefully healthier) mix of quick meals in a self-contained area.

Center of the universe. The open kitchen plan that includes kitchen, casual eating area and family room is now firmly established. The newest expansion of kitchen function is the kitchen island that extends farther into the living space, serving as an area for homework and crafts, dining and catering, and all-round hangout. Equipped with flush-mounted or concealed under counter electrical outlets, overhead lighting, and ample storage, today’s island is considered by many as a home’s true center.

Warm regards,

Caleb McCaleb
McCaleb Homes

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What a Bright Idea!

“My work is pretty intense. I want a home that’s bright and cheerful.” We get that all the time….

Light, and bright is the name of the game in kitchens these days. Gone are the days of dark, overly ornate, formal kitchens. Cooks today want an inviting space that welcomes family gatherings and fun spaces to play. White-on-white is one of the most searched terms for kitchen decorating ideas on Pinterest and HGTV.com

No other home has a brighter or more cheerful kitchen than McCaleb Homes new Steinbeck floorplan. Take a sneak peak at our new Steinbeck model home in Arbor Creek. Stop by this week.

Jennifer Hodgens

jennifer@mccalebhomes.com

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Boeing announcement will nearly double OKC workforce

Boeing announced yesterday that they will relocate more than 800 engineering jobs to their Oklahoma City campus. The jobs will transition here by the close of 2013, when combined with their current employment and the jobs still moving here from Long Beach, the Oklahoma City facility will have approximately 2,000 employees.
Boeing and Oklahoma City have a long and successful history, and our competitive business climate meets their operational needs. We have been working with Boeing over the course of many months to understand their business objectives, and we are ready to help them grow.
Once Boeing made a cost-driven business decision to close the Kansas facility, we believe state and local incentive options and our positive business climate played an important role in Boeing’s decision to choose Oklahoma City as the location for these positions over competing cities. Our ability to maintain this strong business climate and cost environment that supports our incentive programs is critical to keeping and growing companies like Boeing.
Thank you for your hard work in creating a competitive business environment that makes expansions like this possible. For the full Boeing announcement, click here.
Roy H. Williams
President and CEO
Greater Oklahoma City Chamber

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Bungalows for Books

Falling Sky Drive? Leaves of Grass? Road Not Taken?? You may be snickering “What were they thinking when the McCaleb Homes group named those streets!?”

Actually, there was a reason for our madness (this time). Our Bungalow Collection floorplans are all named after famous American Authors. (Louisa May) Alcott, (Ralph Waldo) Emerson, (Ernest) Hemingway and so on…And the street names in Arbor Creek were named after parts of their literary work. Some are famous poems, some not-so-famous books or lines from a piece of literature.

To celebrate the literary education, McCaleb Homes started a program called Bungalows for Books. For every brand new Bungalow home built in Arbor Creek, we’re blessed to donate $1000 to a local elementary school library. This week we’ll be visiting 2 new schools for their end-of-the-year assembly with big surprises. Oh, seeing those kids light up in excitement when they hear that they’ll be able to buy $1000 worth of brand new stories! There’s nothing more inspiring than that.

Merry Christmas,

Jennifer Hodgens

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Safety First

There’s no getting around it: construction can be a hazardous job. We say “can be” because professional builders respect those hazards and equip and train their workers and subcontractors to mitigate safety issues as much as possible. By doing so, professional builders protect their businesses and their clients from liability.

The federal Occupational Safety & Health Administration (OSHA) provides specific guidelines and regulations for homebuilders and contractors regarding the prevention of accidents on a residential job site. The penalties for failing to comply with those rules range from hefty fines to shutting down the job until violations are corrected.

Professional builders not only comply with those regulations, but also often take extra steps to help ensure a safe working environment on every project, and to help keep everyone out of harm’s way.

Inspection. As directed by OSHA, professional builders continually inspect their job sites for potential hazards, and may even have a safety manager that regularly visits each site. Common hazards may include ladders or scaffolding that are unsecured or set on uneven ground, unmarked trenches, or an incomplete or missing first aid kit.

If violations are found, they are quickly reported and remedied to get the company back into compliance. And, they are corrected for the next job.

Education and Training. It is critical to continually educate workers, to train and equip them to recognize and avoid construction job site hazards and accidents.

In addition to a written safety and health program required by OSHA, professional builders often conduct what’s called “Toolbox Talks” on the subject of safety, perhaps showing a video, presenting a report, or (even better) showing workers a real-world example of a common hazard and how to remedy or avoid it.

Builders who are dedicated to safety also equip their crews with the latest in safety gear, from guardrails on ladders and scaffolding to hard hats, gloves, eye protection, and personal harnesses — and keep that gear in optimum working order. These builders also require their trade partners to follow these same safety procedures with their employees.

Incentives. Smart builders often use incentives to help ensure safety. A worker who reports or remedies a job site hazard may earn a bonus, time off, or some other reward that recognizes his or her initiative and sets an example for the rest of the crew.

Builders may also track and publicly post job site safety achievements, such as the number of days without an accident or time lost to a job site injury. Those accomplishments may earn the company recognition from OSHA or acknowledgement from the company that insures the builder against liability and worker’s compensation — lowering the builder’s overhead costs and enabling them to be more competitive for future jobs.

Including Owners. Savvy and safety-conscious builders know that their homeowner clients will want to occasionally visit the job site to see progress, make decisions and discuss concerns. Safety is no less a priority for those instances.

Homebuyers can go a long way to keeping themselves safe on the job site by following the same rules and procedures as the crew. We encourage them to wear hard hats and safety goggles and avoid visiting and walking through a house under construction without supervision, after hours, and on weekends, as they may not be aware or are unprepared to avoid hazards.

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Porches at Arbor Creek

McCaleb Homes is excited to announce our newest project in Edmond. Land is being cleared and plans are underway for our newest community, Porches at Arbor Creek.

Porches will be part of the Arbor Creek development just east of I-35 on Second Street.

This community will feature a clubhouse with a workout facility to include a yoga room and aerobics machines. The clubhouse will also feature a spacious entertaining area with two living areas, with a stunning two sided fireplace, cathedral ceilings and a large kitchen open to the living areas. Guests will enjoy entertaining on the outdoor party veranda complete with a cozy fireplace perfect for hosting events anytime of the year.

Porches will be a gated community and homeowners will be able to experience a relaxing maintenance-free style of living. Each townhome will feature open floor plans with designer touches throughout. Homes will have attached garages, large covered porches and will be energy efficient. Homes will start in the 150′s.

Call (405)-341-1114 or e-mail us at sales@mccalebhomes.com today for more information about our latest and greatest community! Also, be sure to check us out at www.mccalebhomes.com and like us on Facebook for information that will be coming soon, including floorplans and outdoor elevations of the townhomes and the clubhouse.

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GREAT NEWS for Veterans – VA funding fees have gone down!  This will result in a lower monthly payment for most Veterans since it is normal protocol to roll the funding fee into the loan.  The VA loan has always been a favorite of mine to originate due to the many perks it has for the VA homebuyer and now it’s just that much better!

 

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Edmond voted number one perfect suburb in the United States!

http://www.cnbc.com/id/44347217/?slide=11

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Invest in a family library

The great thing about reading is that it can be for all ages. A family library can be a great learning environment for your kids as they can enjoy reading from a young age. To start a family library right in your own home, pick a spacious room and follow these tips to create a healthy learning space.

Organize your space and genre
If you have a ton of books already, look for a bookshelf that can cover an entire wall. That way you have plenty of empty spaces for new books to come, and it’s a great look for your home. If you’re just starting out and don’t have too many books yet, you can just get a single book shelf that can be added shelf space later down the road when your library grows.

When placing your books on the shelf, think of the layout you want to organize the genres of the books. Each section can be organized according to the type of books you have, whether it’s fiction or non-fiction it’s all up to you in how the layout to be. Kids books should be lower to the ground so it’s easier for them to access.

Create a peaceful room
If you want to read comfortably, you need a peaceful surrounding. That means a nice seating area, whether it’s a sofa or giant beanbags on the ground it’s all up to you. Parents with small children can enjoy a peaceful reading by wheeling in their baby swing or play yard when they are napping. As they get older and start to enjoy books, they will have their own bookshelf space to start their own collection.

A family library can also be a great place to store family photo albums and for kids to look back at the type of books they grew up with. So a family library can be a great learning space as well as a road down memory lane for the whole family

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