Partners to build House of Hope
MOORE — Two Structures LLC said it plans to partner with the Central Oklahoma Home Builders Association and Simpson Strong-Tie to build the 2014 House of Hope in Moore with sale proceeds benefiting Cavett Kids Foundation, which provides positive experiences for kids with life-threatening illnesses. The house will be at 841 SW 11 St., directly north of Plaza Towers Elementary School, which was destroyed by the May 20 tornado. Completion is scheduled for April. The House of Hope will be designed to resist wind speeds up to 135 miles per hour, or an EF2 tornado, using Simpson Strong-Tie connectors and anchors to tie the frame to the foundation.
Cedar Springs Lane units sold
Monticello Real Estate, LLC, is a local real estate investor and has bought 16 units of the 25-unit Cedar Springs Lane Townhomes, 12301-49 Cedar Springs Lane, built in 1974, in a deal handled by First Commercial Real Estate Services Corp. and Cushman & Wakefield-Commercial Oklahoma Inc. The buyer paid $1,432,500, or $89,531 per unit, a 2013 record for 1970s-era rental units.
The seller of the recently renovated property, northwest of NW 122 and May Avenue, was Esperanza Real Estate Investments LLC. Financing was provided by MidFirst Bank. Melanie Richardson and Mike Marrara of First Commercial Real Estate Services represented the seller. Stephen Pestinger with Cushman & Wakefield-Commercial Oklahoma Inc. represented the buyer. Jackie Hatton of Oklahoma City Abstract & Title Co. handled the closing.
OKC firm expands into Wisconsin
Oklahoma City-based PSM Holdings Inc. has expanded its PrimeSource Mortgage Inc. into Wisconsin, led by its office in Des Moines, Iowa.
“I'm pleased to extend our ‘We Walk You Home' brand into this area of the country and look forward to the growth of our business in Wisconsin. We intend on continuing to add key states like Wisconsin as we expand our national footprint,” said Jeffrey Smith, chairman of PSM Holdings and president and CEO of PSMI.
OKC's home prices increase
Home prices in Oklahoma City, including distressed sales, increased 3.7 percent in November compared with November 2012; from October to November, prices increased 0.4 percent, according to Irvine, Calif.-based CoreLogic. Excluding distressed sales, year-over-year prices increased 4.9 percent year to year and 0.8 percent month to month, CoreLogic said.
Nationally, the CoreLogic Home Price Index report showed that prices including distressed sales increased 11.8 percent in November compared with November 2012, the 21st consecutive monthly year-over-year increase. Month to month, prices increased 0.1 percent.