Simmons Homes

Working for Greg Simmons is an honor and we are so tickled to see him featured in the Spring 2012 issue of Oklahoma Builder!  Here are a few of our favorite excerpts from the article written by Ryan Hanna:

Tailored to the Customer

There is no denying that Simmons Homes has grown.  Simmons said the company has survived and thrived because he and his employees focus on the average person, not those who were on the high-end or low-end.  Simmons added that he things customers often want a lot of features in their homes, but it’s important for the home builder to narrow the home down to its key elements so the home is financially reasonable for the average customer.

To accomplish this, Simmons recreates and tweaks the designs of the homes he builds.  For example, he took a design that cost $189,000 and reorganized it to better suit the current economy.  He reduced, removed, or reorganized features like the fireplace, three-car garage and four bedrooms, but he allowed customers to purchase such add-ons if they desired.  This brought the base price down to $159,000.

Customer Service: a Key Point

But Simmons’ business has not been without its challenges.  He said his company struggled to overcome the negative effects of the mortgage industry.  Nevertheless, Simmons has made it a point to fight for the future of his company, despite the economy.  To separate itself from the competition, Simmons said his company is loyal to its customers.

“We have trained service reps in-house who take care of our customers,” he said. “We continually strive to be timely and let the customer know we didn’t just take their check at closing and walk away.  We are there for the long haul.  I think a lot of the industries have lost sight of that, but customer service will always be a key point for us.”

He said Simmons Homes also dedicates itself to three factors – good prices, a great product and great locations – to maintain business.

Where do women go? Guys, do you have any idea where we go?  Do women have an equivalent of the Man Cave?  Is it called a Lady Den?  A Lady Lair? Or don’t we need a name for our solitude?

Maybe it’s a WONDER Area…..WOmaN DEn to Relax.  Another reason to call it the WONDER area, because men usually wonder what women do in there!

Simmons Homes offers some great floor plans featuring flex rooms and e-space that can be customized to fit your most tricked out dream room, whatever its name.   Use your flex room space to get away, read a book, do a little crafting, practice yoga, or search the internet for more great ideas for your Gal Hideaway.

Our grandmothers had “boudoirs,” where they primped and lounged. Our mothers had sewing rooms and craft rooms.  A room of one’s own isn’t new, but what we ladies do with and in the space is changing. The possibilities are endless and popular sites like Pinterest will give you hundreds of ideas to shape your Mom Cave.

Or is it that the Woman Cave is the entire house?  We do kinda take over most of the décor efforts.  I doubt the guys in our life are really thrilled with the frilly bedding and smelly soaps we display.  Personally, I let my husband have the flex room as his ultra guy-themed escape since I find my
“therapy” in the kitchen trying to make myself into a baker (sadly it’s never going to happen, but still a fun journey).  Plus I can go in there and no one else would dare follow, for fear of being asked to help.

But Pinterest does keep my redecorating wheels turning.  My husband just might come home one day to see his Man Cave transformed into the most glorious gift wrapping and scrapbooking room you have ever seen!

It is pretty gross to think about what might be “living” in the carpet of a house you buy.  But when you purchase a Brand Spankin’ New home with Simmons you can kick your shoes off and relax while looking at your brand new beautiful carpet! (I promise, there aren’t any talking rodents in our flooring)

Moving can be stressful. Sometimes in all of the rush and details of a move, perfectly rational people can do some pretty funny things like a story I read where a lady called her storage cube company to ask a question.  She wanted to know how many days until the cube arrived at her new home.  The answer of 4-5 days freaked her out as she was concerned that the food in her freezer might spoil! We know you are smarter than that, but we do want to help you on your journey and preparing to move into your new Simmons Home with a few tips:

Getting Organized

Start early!

The studied timeframe puts an average family taking a month to completely pack up their home.

Create a Calendar

Chart out when you want each room to be completed and delegate which family member is responsible.

Room Inventory

Start by forming 2 room lists, one for your current place and one for your future home.  Write out the tasks for each room as a checklist for the family member responsible for packing it up.  This will also help you manage what goes where at the new location.

Find Great Movers

Hire the best via referral

Get referrals from local real estate agents and friends who have moved recently.  Poor quality movers really can be worse than none at all!

“Binding Not-To-Exceed”

Check with a few different companies and always ask for a “Binding Not-To-Exceed” estimate.

Insured

Only hire movers that are licensed, bonded and insured.  If not, your personal insurance may be liable for an accident.

Letting People Know

Post Office

File your change of address with the Post Office at least 30 days prior to the date of the move.

Records

Get copies of your existing records (transcripts from schools, medical records from doctors, ect.) while you are there notifying them your change of address

Utilities

Make a list of your current utility companies, their contact information, and your account numbers.  Likewise research and list out all the information you will need to turn on the utilities at your new home. Simmons Homes provides our buyers with a complete list and contact information on utility companies for each of our neighborhoods around the Tulsa area.

More tips on Packing and Moving Day to come….

Larrin Rudy, Simmons Homes Interior Design Specialist, has a great tip to add a splash of color to your home décor.  Simply painting the background of your bookcase, media center, or hutch a vibrant hue can emphasize an understated piece of furniture and bring new life to the space.  Don’t be afraid of a little color!  Paint is a cost effective way to add your favorite accent color and you can always change it up.

Tangerine Tango is THE spring color of 2012 according to Pantone, who is the world renowned authority on color.  For more than 45 years Pantone has been inspiring design professionals with products, services, and leading technology for the colorful exploration and expression of creativity.  You can check the other spring colors for 2012 at www.Pantone.com.   Gray has always been a staple color in Larrin’s palette and paired with a punch of Tangerine it will create a bold trendy space.  She is excited about adding Tangerine to her own home this year.

Get creative and send us some pics of your accent painting projects.  Post them to our Facebook page for bragging rights!

TAX RETURNS = HOMEOWNERSHIP

As we look forward to the blossom of spring, the thoughts of many households turn to that yearly festival of finance and frustration: taxes.  While the paperwork may worry, and the numbers may sometimes confuse, the happy reality is that more and more people are actually receiving tax refunds each year, instead of paying additional taxes to Uncle Sam.  The biggest worry on their minds this year?  What to do with their refund money!

According to the IRS, taxpayers received and average tax refund of $3,000 last year, holding steady from 2010.  That sum just happens to be an ideal inroad toward a downpayment on a new home, a happy circumstance for those who are looking to become homeowners.  Couple the all-time low interest rates with the high-value incentives Simmons Homes offers its buyers, and today’s real estate market is a buyer’s dream!  A downpayment of as little as a few thousand dollars can be enough to get you into an affordable new home with us.  Whether funded though an FHA loan that requires only 3.5% down, or via some of the other special loan products available at low to no downpayment levels, you can capitalize on a loan at terms that may come only once in a lifetime.

Still not convinced?  Consider this:  last year a study by Bankrate.com found that over 84% of those who received a refund decided to save or invest the money.  Wisdom on the street seems to suggest that consumers are working harder to make more of their money, and are taking the time to make solid choices for their financial futures.  As everyone knows, real estate is an important part of the overall financial plan in any household, and by translating a tax refund into an investment in a new home; homebuyers can begin to reap the rewards of homeownership.  These benefits include the building of equity in a home, and the increased tax-refunds they will see in the future.

This year, when you receive a tax refund, ask yourself: how can this money help me to achieve my goals?  You just might find that turning that refund into an investment in your family’s new home may be the best answer of all.

Lending standards will remain tight in 2012, but that doesn’t mean you won’t be able to snag a mortgage with an attractive rate.  There’s a belief out there that it’s almost impossible to get a “yes” from a lender.  “In today’s marketplace,  a lot of questions about interest rates and how to qualify for a home loan remain unanswered. Is there even money available? … Forget the doom and gloom… Qualified buyers can still get money! ” says Steve Brown, mortgage loan originator for Swift Home Loans.  “We simplify the loan process by pre-qualifying you for a maximum loan amount –no guesswork. Although the mortgage lending landscape has changed over the last 4-5 years, people CAN still qualify for financing. More documentation may be required than in the past, as each consumer’s personal profile can be unique. However, with rates at record lows, there has never been a better time to be a homeowner.” Savvy borrowers who understand the rules and prepare in advance will improve their chances of success.

TIP 1- Study Your Credit

Good credit is the key to snagging a mortgage in this tight lending environment. Get copies of your credit scores and credit history from the three main credit reporting bureaus. Study the reports carefully to make sure there are no errors or issues to resolve before applying.

Most lenders require a minimum credit score of 680 to comply with Fannie Mae and Freddie Mac’s guidelines. Federal Housing Administration loans, which are guaranteed by the FHA, allow for lower scores, but most lenders want to stay away from scores lower than 620.

TIP 2 – Prepare Before You Start

There are some basic documents every lender requests when you apply for a mortgage. Don’t wait for them to ask. Have these documents ready when you walk into the lender’s office: your last two pay stubs, W-2s, income tax returns and bank statements.

Save these documents and any additional ones the lender requests in an electronic format, so you can easily resend them if anything gets lost in the process.

TIP 3 – Know How Much You Can Afford

Don’t rely on your lender to tell you how much mortgage you qualify for and then borrow the maximum amount. Plan your budget, and leave room for unexpected expenses. That’s especially the case when you are buying a house. Mortgage calculators can help you determine how much house you can afford and estimate your monthly mortgage payments.

TIP 4 – Time Is Of The Essence

Once you submit your mortgage application to the lender, the clock starts ticking. Make sure you quickly send in any documents requested during the approval process.

For buyers, a delay in closing the loan could kill the purchase and cost them their deposits. When refinancing, a delay could mean losing the interest rate the borrower originally locked in. Ask for an expected closing date, and follow up with the lender periodically until the loan closes. Keep in mind, some lenders close more quickly than others.

TIP 5 – Mortgage Approved? Your Credit Must Stay Put Until Closing

After the lender pulls your credit and says you’ve been approved, don’t assume you’ve won the battle. Most lenders will pull your credit again before the loan closes.

It’s wise to avoid any moves that may affect your credit. Don’t apply for new credit cards or credit lines. Pay your bills on time. Don’t close any accounts. Don’t finance a new car. Stay put until closing.

TIP 6 – Receive A Gift? Be Ready To Explain It

Did your parents or in-laws give you a few thousand dollars as a gift to help out with the down payment? If so, congratulations — but make sure you can document and explain where you got the money.

FHA loans allow borrowers to receive their down payment as a gift from a relative. For conventional loans, borrowers may receive gifts, but at least a 5 percent down payment must come from their own funds.

Borrowers receiving a gift are required to present a gift letter signed by the donor, and they will need a paper trail of the money transfer. Be ready to present statements to show where the money came from when it was deposited into your account.

Unless the money is being used for the down payment, avoid receiving large cash deposits in your bank account until your mortgage closes. Any large deposits other than your paycheck will have to be explained to comply with federal regulations.

TIP 7 – Be Persistent

If one lender rejects your mortgage application, that doesn’t mean all lenders will. Most lenders follow Fannie Mae and Freddie Mac guidelines. In addition, they have their own internal underwriting guidelines, and some are stricter than others.

Ask exactly why your mortgage was denied. Depending on the reason, you may be able to take some quick steps to improve your credit, or you might just need to try a different lender.

TIP 8 – Pre-Shop our Floor Plans and Neighborhoods

Visit www.SimmonsHomes.com to see all of our neighborhoods in the Tulsa surrounding area and browse the floor plans we offer.  There is something for everyone in a range of budgets. Custom exterior and interior options are available to make your home individually unique!

Simmons Homes would love to help you with any questions you may have regarding getting ready to buy a home. You can reach us anytime at 866-672-4079.  We have a great relationship with the folks at Swift Home Loans and they too would help you in any way they can.  You can reach them at 918-528-6406.

Here’s to you and 2012 being your year to own a beautiful new Simmons Home!

Top 100 Metro Areas

We rank 4^th out of the Top 100 Metros in terms of Economic Security according to a study by the Urban Institute.  Tulsa was praised for its low unemployment, steady housing prices, average earnings that afford a median standard of living, and our ability to keep foreclosures to a minimum.

Oklahoma is recognized for its diverse economy.  Such things as government, universities, energy, and high tech firms have held up well in the Great Recession.  We didn’t fall victim to the vast swells of the housing boom and then bust, so mortgage prices today are remarkably affordable.  Especially when you couple that with the all time low mortgage loan rate of 3.93% (30 year fixed) just reported by Yahoo today!

Our region continues to rank high on multiple “top ten” lists – most affordable (Forbes), most recession-proof (Forbes), and best place to start a small business (Fortune Small Business).  We, at Simmons Homes, would agree that Tulsa is a “top ten” place to be a homeowner and we strive to make that an affordable luxury with amazing quality.

Source: Urban Institute analysis of LAUS, HPI, NUHC, OES, and LPS datahttp://datatools.metrotrends.org/charts/metrodata/rankMap_files/rankMap.cfm

As we plan for this Thanksgiving Holiday, we would like to take this opportunity to express our sincerest gratitude to all of you who have put your trust in us to help you create your dream home.  Our business relies on the recommendations and support of those in our communities, and we want to take a moment to say a heartfelt thank you to all of you who continue to support our mission at Simmons Homes.

Thanksgiving at the Simmons’ home is one of our favorite times of the year.  It gives us the opportunity to be surrounded by family and friends, and appreciate the numerous things we are blessed with.  We plan on staying true to our traditions, eating too much turkey, taking an extra scoop of sweet potato casserole, sneaking another piece of pie, and of course laughing until our bellies ache.

Praline Sweet Potato Casserole is a special Simmons Family Recipe we would like to pass along to your family.

• Place 1 Large Can Sweet Potatoes in a Bowl – Drain 3/4 of the Liquid

In Another Bowl – Mix Together the Following Blending Well:

• 1/4 tsp. Salt
• 1 tsp. Vanilla
• 1/2 tsp. Cinnamon
• 1/3 Cup Sugar
• 1/4 Cup Melted Oleo
• 2 Eggs

Add Mixture to the Sweet Potatoes and Mash Well (Until Chunky)

Put Into a Greased Casserole Pan

In Another Bowl Mix the Following: (This Will Be Your Topping That You Put Onto the Sweet Potato Mixture)

I Have Even Doubled This to Make it Sweeter!

• 1/4 Stick Oleo – Melted
• 3 Tablespoons Flour
• 3/4 Cup Dark Brown Sugar
• 1/2 Cup Chopped Pecans (optional)

Mix and Sprinkle over the top of Sweet Potatoes – Bake at 350 degrees for 30 Minutes.

Enjoy!

To you and your loved ones, we wish Joy, Happiness, Health, and a very Happy Thanksgiving!

– Greg and Pat Simmons

(One more tip for you holiday cooks out there: When making stuffing, We make additional croutons by drying out bread and cutting into small cubes and cooking them in butter and then we add to the store bought croutons and seasoning crumbs.  It really adds more flavor!)

Buying a home has tax advantages that simply renting a home does not. You may have heard people say that when you rent, you’re just paying someone else’s mortgage and helping them earn equity.

With tax season right around the corner the following are 6 itemized deductions that, as a homeowner, you can take on your taxes. This is what you’re missing out on by not having your own mortgage.

Home mortgage interest: When you first buy a home, the majority of your monthly payment is made up of interest. As you continue to pay your mortgage each year, slowly the balance shifts from interest, to principal payments.

The interest you pay on your mortgage up to $1 million per year is deductable. And if you own a primary and a secondary home, as long as they add up to $1 million or less, you receive deductions for both.

Property tax: Did you know your property taxes can be deducted from your federal income taxes? Both state and local taxes are counted in this equation.

Home buying expenses: Certain fees and closing costs associated with a new home purchase can be deductible. Some examples are prorated interest on a new loan, prorated property taxes, and loan origination fees.

Home equity loan: If you need money, for example, to pay off high-interest credit cards, start up a business, or any other number of reasons you can think of, you can borrow up to $100,000 against the equity in your home and deduct the interest.
Credit card interest, on the other hand, is not deductable.

Home-sale exclusion: When selling a home for profit, as long as you live in your home for two of the previous five years before selling, you only pay taxes on profits over $250,000 if you are single. You only pay taxes on profits over $500,000 if you are a married couple filing jointly. This exclusion can be taken once every two years.

Free Rental Income: Another unusual benefit of owning a home is that you can rent your home for up to 14 days during the year and pay no tax on the rental income. If you are a renter subletting your home you have to pay taxes on the income you earn.

If your lease is coming up for renewal and you are still trying to decide if it’s better to own verses rent in this economy here are 6 compelling reasons why you benefit as a home owner when it comes to tax time.