As you may already know, we were the only Real Estate Brokerage firm invited to participate in this interim study at the Oklahoma State Capitol. We considered it an honor and our civic duty. This presentation is and will continue to evolve beyond basements as more opportunities to present become necessary. It was a specifically requested topic for the initial interim study and worked in conjunction with other presentations in establishing a need to look at our overall construction of homes and schools in Oklahoma. 

The interim study determines if the Legislatures want to move forward with possible statewide policy changes; which is the next step if they deem it necessary. There are so many components to this interim study; beyond just basements. Our Marketing Report was to demonstrate, YES THERE IS A DEMAND from the consumer.

We believe the consumer wants choices. To include basements and wind proofing construction features that they're not being offered from the mass majority of Real Estate industry service providers; whether that be real estate agents, sales reps or builders.

We were told by another presenter that consumers "Are being given choices and want granite counter-tops over basements." We at S. Walker & Co. respectfully disagree. If the consumer is educated to focus on what elements they cannot change when building a home versus what elements they can (ie: basements vs cosmetic upgrades) we think 25-50% of consumers would choose differently. Many consumers are told in Oklahoma that "Basements cannot be built" and never given a choice. Our local MLS doesn't allow the input of features such as basements or storm shelters for Realtors® to choose when entering a listing or for consumers when searching for a home. The data is simply not there to search.

Media from all over the world had one similar question during May's storms this year, "Why doesn't Oklahoma have basements and build homes that are tornado resistant? If California/Japan can build homes/buildings that are earthquake resistance, and Miami/Houston can build homes/buildings that are hurricane resistant then why can't Oklahoma build tornado resistant homes? Why do we keep building houses the same way and letting them get blown apart over and over?" They asked this because construction, engineering and technology has caught up and we're not using it. The insurance companies are asking the same questions. Take a look at our rising premiums and deductibles with less coverage. We use to rank #25-26 in affordability of homeowners/auto insurance just 10 years ago. We're now #3-4 in the most expensive states to insure. 

This isn't just about F5 tornadoes. Those are extremely rare.  Engineering has progressed to better withstand high winds and the engineers, architects and contractors during the interim study produced scientific and empirical evidence, demonstrating Oklahoma is way behind the times in construction materials in regards to high winds. For example, we have homes blown apart by EF1's because the garage door is cheap thin metal. Walk down the street of any tornado stricken community and the first thing blown in is the garage door. When the garage door fails it can then ultimately cause the house to explode. A house that otherwise could easily withstand an EF1-2 and maybe a 3; which we do frequently experience in Oklahoma. We have no building standard for garage doors. Tie backs on roofs; same thing. Simple, easy, effective and we're not doing it. The mass majority of our tornadoes and damage caused by tornadoes in Oklahoma aren't from EF5s and indisputably those do obliterate everything in their path and may God have mercy when they blow through! Best to be underground.

Below is a picture of a home struck by a EF1 tornado (wind speeds). 

Relocating to Oklahoma City? Take this short tour of our city. Already live in Oklahoma City? Remind yourself of all how wonderful it is to live here.

Does your agent have a ton listings? Really advertise themselves well? Are they good looking and charismatic? Fun to look at houses with? Did you sign the listing agreement or write a contract and they seem to have disappeared? If you answer, 'yes,' then you have a stealth real estate agent. Congratulations! They are the best! Not. In our business we call these guys stealth agents because before the ink dries they disappear. Just as quickly as they swept you off your feet, they're gone. You have to ask yourself, if you can't get a hold of your Realtor then who else can't either?

Do sellers pay the buyer's closing cost or is it really the buyer paying it? I constantly hear buyers say, "I've heard Sellers should be expected to pay my closing cost." or "My lender said, 'Have the seller pay your closing cost."  

Periodically, a seller thinks they want to sell their house and then gets cold feet, reasons for moving fall through or they just change their mind for whatever reasons and decide they don't want to sell. This remorse can occur during the middle of a contract with a buyer and/or during the listing agreement with an agent. Buyers and agents have very little empathy for a seller who waste a lot people's time and investment. Since, real estate is unique, seller's can be sued for specific performance by buyers in contract or their listing agent for commissions. It's best to avoid the situation all together. Don't list your home for sale unless you plan on selling it. It is pointless and rude to do otherwise.