Insurance Companies Buy Insurance- Because insurance companies take on risk by taking risk from you, the homeowner. They buy insurance to help cover part of their risk as well. This is called re-insurance. The insurance rates and policies come into play because the company has paid someone to figure out what the risk is to the insurance company. Insurance is global and many carriers are global insurance companies. These reinsurance contracts for the insurance company come up for negotiation on July 1st and January 1st. The reinsurance will likely increase 8-12% due to the disasters we have seen in April and May. In turn, homeowners will see an increase in their rates as well.
Qualified Residential Mortgages May Require 20% Down-payment- In a proposed law, federal regulators are attempting to pass a law that would require a 20% down-payment for all qualified residential mortgages. Lawmakers are trying to keep this law from passing because many believe that it will hinder the real estate market. 20% down doesn't mean that the buyer is responsible enough to own a home. One of the problems is that banks started making loans to anyone without proper care to make sure that they qualify and have a history of good credit payments.
Exterminating Cicada Killers- Cicada Killers are very large and have yellow and black on the buttox with a stinger. They will usually be individual. The males will chase you but can't hurt you. They can sting, but I have never known anyone who has been stung by one. A hornets nest will have multiple members. The hold of a Cicada Killers nest will have a larger hole. Their eggs are laid in the hole and the Cicadas will grab bugs down into the hole to feed on the larvae. We can dust the hole and use an insecticide around the hole to prevent them from being a nuisance or bothering people near a home or business. For all your Tulsa, OK area pest control needs, contact Montgomery Exterminating at 918-438-4885 or www.montgomeryexterminating.com.
Tulsa Real Estate Update- The active listing inventory is down by 8.2%. That is a big deal. That means that buyers have less to choose from. Good news for Tulsa- we didn't make the list of cities where you get your car stolen most often!!
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