REAL ESTATE NOTES
Tours available for St. Jude Dream Home
The St. Jude Dream Home remains open for free tours fromnoon to 5 p.m. Sunday.The giveaway will be at 9 a.m. Wednesday on KOKH-TV Fox 25.
Tickets are for sale for $100 for the drawing, the annual fundraiser for St. Jude Children's Hospital in Memphis, Tennessee. Purchase by calling 800-592-1596 or going to dreamhome.org. Cadence Homes built the 3,600-squarefoot, three-bedroom, 2.5-bath home, valued at $550,000, at 424 Carpenter Trail in Arcadia Ridge addition.
To get there, start in Edmond: From Interstate 35, take Exit 141 onto E Second Street/State Highway 66 and go east 7 miles; go south on N Hiwassee Road for 1 mile; go east on NE 178/E Second Street/Edmond Road for 0.6 miles to Arcadia Ridge on the right; follow yard signs to the the St. Jude Dream Home
OKLAHOMA CITY Trade concerns cool spending
Trade tensions between the United States and China and a slowing global economy are creating uncertainty, unnerving investors, causing swingsin bond and equity markets, leaving businesses "increasingly cautious, pulling in the reins on capital spending," said Richard
C. Howell, executive vice president of Holliday American Mortgage LLC, with offices in Oklahoma City, Tulsa, and Fayetteville, Arkansas.
Howell included comments in announcing the funding of mortgages of $7.8 million for two self-storage businesses in the Oklahoma City area and $6 million for a light industrial property in Tulsa.
"With the 10-year Treasury yielding less than both twoyear note and three-month bill ('yield-curve inversion'), fears of an oncoming recession have risen sharply despite robust consumer confidence, reasonable economic growth and a strong real estate market. It is anticipated that we will see further cuts by the Federal Reserve soon," he said.
"Even amid a slowing global economy and heightened uncertainty, the U.S. economy
grew respectably in (the second quarter). Additionally, the U.S. l abor market remains very strong with job creation far exceeding the number of new entrants to the workforce, which is drawing more people back into the labor market and pushing unemployment down to multidecade lows. This strength is showing up in consumer sentiment, which remains at very high levels — an important economic indicator since consumer spending accounts for approximately two-thirds of U.S. and other developed economy GDP.
"Various factors will continue to support capital flowing into real estate. Lower hedging costs and the resilience of the U.S. economy will keep foreign capital flows into the country strong. Additionally, investors searching for higher yields will continue to turn to commercial real estate. In short, economic and property market resilience, along with a lower cost of capital, provide a reasonably positive mix for capital deployment in real estate."
Merit citations issued
The Oklahoma Historical Society' s State Historic Preservation Office presented its Citations of Merit for work in historical preservation. Recipients were:
• Enid Main Street for its History Makers Campaign that raises funds for a grant program to help restore historically accurate improvements to commercial facades in the district.
• Rite Development Inc., Rosin Preservation LLC and Wallace Architects LL C for rehabilitation of the Harrison School in Enid.
•Boulder Office L LC, Preservation and Design Studio PLLC and KKT Inc. for rehabilitation of the Blue Cross Blue Shield of Oklahoma Building in downtown Tulsa.
•Villa Lofts of Vinita LP, Rosin Preservation LLC and Baron Design & Associates LLC for the rehabilitation of the Hotel Vinita in Vinita.
•We wok a Affordable Housing Partners LP; Building Preservation L LC; and Heiple+Wiedower Architects PLLC for rehabilitation of the Aldridge Hotel in Wewoka.