F REAL ESTATE SATURDAY, OCTOBER 22, 2011 THE OKLAHOMAN | NEWSOK.COM INDEX Permits 8F Stone 10F HOUSE PLAN European elegance Stone veneer combines with a facade rich with gables to give the Canyonville a European look. PAGE 3F WINNERS ANNOUNCED Parade of Homes The Parade of Homes continues through Sunday with more than 110 new houses open free to the public from 1 to 7 p.m. PAGE 4-5F Tax break Two Georgia law- makers want to amend the tax code to allow homeown- ers with a 401(k) retirement plan to pull out money to save their houses from foreclosure without the usual tax penalties. PAGE 11F Kenneth Harney THE NATION’S HOUSING IN BRIEF MODULAR TILES EASE FLOOR CHANGE Changing flooring requires little more than a whim with Modularity Tiles. The vinyl tiles can be installed with a re- sidue-free, double- sided tape. They can be repositioned, and tiles can be replaced if they get damaged. The real fun comes in the design. Mod- ularity Tiles come solid or with die-cut openings where you can insert a circle or a square, sort of like putting a shape into a frame. You can mix and match designs and colors for a one-of-a-kind look. The tiles are sold at www.modularity tiles.com. Solid-color, 12-inch-square tiles cost $2.05 each; tile frames, $1.73 each; and inserts, $1.72 each. Shipping is extra. ENERGY DRAW COMPARED Q: If I leave a room with the lights on and also leave the TV on, what’s the comparative usage of electrical current between the two in an hour? I have a 40-inch LCD TV and three 75-watt floo- dlights. A: Sorry, but it’s probably close to a wash. Those three floodlights use 225 watts of electricity combined. A conven- tional LCD television of that size uses roughly 200 watts, said Tom Reddoch, executive director of energy utilization for the Electric Power Research Institute. So, the lights may use a little more power. That as- sumes your TV isn’t brand new. Innova- tions on some LCDs have reduced their power draw, Red- doch said. If you had a plasma TV, the question would be even more compli- cated. The power used by plasma TVs fluctuates, depend- ing on what’s on the screen. FROM WIRE REPORTS Ronald Phipps will nev- er forget the 91-year-old widow whose home he listed recently. Because of ill health, she had to let go of the property and move to an assisted-living facil- ity. Still, she found it tough to give up the place where she’d lived for more than 30 years. “There’s a huge emo- tional quotient to down- sizing. And when you’re under duress, it’s particu- larly painful to let go,” said Phipps, president of the National Association of Realtors (www.real- tor.org). Before her New En- gland-style house went on the market, the widow fought the need to elimi- nate her many possessions that wouldn’t fit into her tiny space in the assisted- living facility. “Everything she had to give up became a proxy for the grief she felt for having to leave her treasured home,” Phipps recalled. Here are a few pointers for homeowners trying to cope with the emotions involved in downsizing: I Look for an ally to help you downsize. Vicki Norris, a former real estate agent and pro- fessional organizer, said it can take up to 24 work hours to de-clutter the av- erage-sized room. To avoid becoming side- tracked, she said many home sellers need an ally to help them view their possessions objectively and let go of things they can’t take with them when they move. “When you have to downsize, your whole life is upside down. It’s tre- mendously stressful. So it’s good to have someone there with you to help you stay focused and create an organized strategy,” said Norris, author of “Restor- ing Order to Your Home.” I Check in with family members to ask if they want memorabilia. Older downsizers often hang onto nostalgic items they believe their grown children might want “some day.” But Norris said many parents believe their offspring will want many more things than they do, including their childhood story books and elementary school sports trophies. “Typically Mom and Dad hang onto things the kids really don’t really want,” Norris said. He suggests that downsizers ask grown children what items they value. I Create a memory book containing photos of your place. When Norris’ baby boomer parents retired and put the family home up for sale, they did so vol- untarily. Even so, they found it emotionally thorny to let go of a resi- dence where they’d lived for 28 years. Still, the process of downsizing was eased af- ter their listing agent gave them a book of photos showing all their rooms and furnishings just as they looked before the home was staged for sale. “That way they were able to seal their memories — including how the din- ing room table looked when their whole extend- ed family came over for Thanksgiving dinners,” Norris said. I Donate useful things you can’t take with you. As they plow through their property room-by- room, most downsizers encounter many items that crowd their space and would make it harder to market their property. For instance, they may have an extra sofa or two or over- sized bedroom furniture that won’t fit in their new place. Whenever possible, Norris encourages dona- tions of serviceable items to a nonprofit institution that will put them to good use. “There’s a lot of satis- faction in giving well,” she said. Email Ellen James Martin at [email protected]. UNIVERSAL UCLICK Emotions can overtake people when downsizing Ellen James Martin SMART MOVES Teresa Rose can’t pinpoint ex- actly what drew her to her Lin- wood Place home, but she was a fan of the neighborhood long be- fore she lived there. “I would drive through this area as I was coming home, and I kind of fell in love with the neighbor- hood,” said Rose, director of com- munity relations for Chesapeake Energy Corp. So when the sprawling bunga- low at 3121 NW 20 went on the market, she checked it out and immediately fell in love. “I can’t say exactly (why) other than I just walked in, and it just has a good feeling,” she said. “It’s very welcoming, and it’s very open. It’s just a great comfortable home.” That was 13½ years ago. She’s called Linwood home ever since. Her house is part of the 16th an- nual Linwood Place Tour of His- toric Homes, set for 1 to 5 p.m. Sunday. Homes in the neighborhood were built from 1909 to the 1940s. The neighborhood is bordered by NW 23, NW 16, Drexel Boulevard and Interstate 44. Linwood Ele- mentary School, 3416 NW 17, is al- so on the tour. Residents want to show off the extensive renovations done through Oklahoma City’s MAPS 3 project, tour spokeswo- man Deborah Saunders said. On a soft, warm evening with all the lights blazing inside, Rose’s home lived up to her assessment: welcoming, open and comfort- able. LINWOOD PLACE NEIGHBORHOOD TURNS FANS INTO HOMEOWNERS Teresa Rose’s home at 3121NW 20, a style known as an airplane bungalow, is one of several on the annual Linwood Place Tour of Historic Homes from 1 to 5 p.m. Sunday. PHOTO BY DOUG HOKE, THE OKLAHOMAN BY DYRINDA TYSON For The Oklahoman [email protected]Teresa Rose shows her living room at 3121 NW 20 in Oklahoma City’s historic Linwood Place neigh- borhood. PHOTO BY DOUG HOKE, THE OKLAHOMAN SEE LINWOOD, PAGE 2F
Transcript
FREAL ESTATESATURDAY, OCTOBER 22, 2011 THE OKLAHOMAN | NEWSOK.COM
INDEX
Permits 8FStone 10F
HOUSE PLAN
EuropeaneleganceStone veneer combines witha facade rich with gables togive the Canyonville aEuropean look.PAGE 3F
WINNERS ANNOUNCED
Parade of HomesThe Parade of Homescontinues through Sundaywith more than 110 newhouses open free to thepublic from 1 to 7 p.m.
PAGE 4-5F
TaxbreakTwo Georgia law-makers want toamend the tax codeto allow homeown-ers with a 401(k)retirement plan topull out money tosave their housesfrom foreclosurewithout the usualtax penalties.
PAGE 11F
KennethHarney
THE NATION’S HOUSING
IN BRIEF
MODULARTILES EASEFLOOR CHANGEChanging flooringrequires little morethan a whim withModularity Tiles. Thevinyl tiles can beinstalled with a re-sidue-free, double-sided tape. They canbe repositioned, andtiles can be replacedif they get damaged.The real fun comesin the design. Mod-ularity Tiles comesolid or with die-cutopenings where youcan insert a circle ora square, sort of likeputting a shape intoa frame. You can mixand match designsand colors for aone-of-a-kind look.The tiles are sold atwww.modularitytiles.com. Solid-color,12-inch-square tilescost $2.05 each; tileframes, $1.73 each;and inserts, $1.72each. Shipping isextra.
ENERGY DRAWCOMPAREDQ: If I leave a roomwith the lights onand also leave theTV on, what’s thecomparative usageof electrical currentbetween the two inan hour? I have a40-inch LCD TV andthree 75-watt floo-dlights.A: Sorry, but it’sprobably close to awash. Those threefloodlights use 225watts of electricitycombined. A conven-tional LCD televisionof that size usesroughly 200 watts,said Tom Reddoch,executive director ofenergy utilization forthe Electric PowerResearch Institute.So, the lights mayuse a little morepower. That as-sumes your TV isn’tbrand new. Innova-tions on some LCDshave reduced theirpower draw, Red-doch said. If you hada plasma TV, thequestion would beeven more compli-cated. The powerused by plasma TVsfluctuates, depend-ing on what’s on thescreen.
FROM WIRE REPORTS
Ronald Phipps will nev-er forget the 91-year-oldwidow whose home helisted recently. Because ofill health, she had to let goof the property and moveto an assisted-living facil-ity.
Still, she found it toughto give up the place whereshe’d lived for more than30 years.
“There’s a huge emo-tional quotient to down-sizing. And when you’reunder duress, it’s particu-larly painful to let go,” saidPhipps, president of theNational Association ofRealtors (www.real-tor.org).
Before her New En-gland-style house went onthe market, the widowfought the need to elimi-nate her many possessionsthat wouldn’t fit into hertiny space in the assisted-living facility.
“Everything she had to
give up became a proxy forthe grief she felt for havingto leave her treasuredhome,” Phipps recalled.
Here are a few pointersfor homeowners trying tocope with the emotionsinvolved in downsizing:
I Look for an ally to helpyou downsize.
Vicki Norris, a formerreal estate agent and pro-fessional organizer, said itcan take up to 24 workhours to de-clutter the av-erage-sized room. Toavoid becoming side-tracked, she said manyhome sellers need an allyto help them view their
possessions objectivelyand let go of things theycan’t take with them whenthey move.
“When you have todownsize, your whole lifeis upside down. It’s tre-mendously stressful. Soit’s good to have someonethere with you to help youstay focused and create anorganized strategy,” saidNorris, author of “Restor-ing Order to Your Home.”
I Check in with familymembers to ask if theywant memorabilia.
Older downsizers oftenhang onto nostalgic itemsthey believe their grownchildren might want“some day.” But Norrissaid many parents believetheir offspring will wantmany more things thanthey do, including theirchildhood story books andelementary school sportstrophies.
“Typically Mom and
Dad hang onto things thekids really don’t reallywant,” Norris said. Hesuggests that downsizersask grown children whatitems they value.
I Create a memory bookcontaining photos of yourplace.
When Norris’ babyboomer parents retiredand put the family homeup for sale, they did so vol-untarily. Even so, theyfound it emotionallythorny to let go of a resi-dence where they’d livedfor 28 years.
Still, the process ofdownsizing was eased af-ter their listing agent gavethem a book of photosshowing all their roomsand furnishings just asthey looked before thehome was staged for sale.
“That way they wereable to seal their memories— including how the din-ing room table looked
when their whole extend-ed family came over forThanksgiving dinners,”Norris said.
I Donate useful thingsyou can’t take with you.
As they plow throughtheir property room-by-room, most downsizersencounter many items thatcrowd their space andwould make it harder tomarket their property. Forinstance, they may have anextra sofa or two or over-sized bedroom furniturethat won’t fit in their newplace.
Whenever possible,Norris encourages dona-tions of serviceable itemsto a nonprofit institutionthat will put them to gooduse.
“There’s a lot of satis-faction in giving well,” shesaid.Email Ellen James Martin [email protected].
UNIVERSAL UCLICK
Emotions can overtake people when downsizingEllenJamesMartin
SMARTMOVES
Teresa Rose can’t pinpoint ex-actly what drew her to her Lin-wood Place home, but she was afan of the neighborhood long be-fore she lived there.
“I would drive through this areaas I was coming home, and I kindof fell in love with the neighbor-hood,” said Rose, director of com-munity relations for ChesapeakeEnergy Corp.
So when the sprawling bunga-low at 3121 NW 20 went on themarket, she checked it out andimmediately fell in love.
“I can’t say exactly (why) otherthan I just walked in, and it justhas a good feeling,” she said. “It’svery welcoming, and it’s veryopen. It’s just a great comfortablehome.”
That was 13½ years ago. She’scalled Linwood home ever since.
Her house is part of the 16th an-nual Linwood Place Tour of His-toric Homes, set for 1 to 5 p.m.Sunday.
Homes in the neighborhoodwere built from 1909 to the 1940s.The neighborhood is bordered by
NW 23, NW 16, Drexel Boulevardand Interstate 44. Linwood Ele-mentary School, 3416 NW 17, is al-so on the tour. Residents want toshow off the extensive renovations
done through Oklahoma City’sMAPS 3 project, tour spokeswo-man Deborah Saunders said.
On a soft, warm evening with allthe lights blazing inside, Rose’s
home lived up to her assessment:welcoming, open and comfort-able.
LINWOOD PLACE NEIGHBORHOODTURNS FANS INTO HOMEOWNERS
Teresa Rose’s home at 3121 NW 20, a style known as an airplane bungalow, is one of several on the annual Linwood Place Tour of HistoricHomes from 1 to 5 p.m. Sunday. PHOTO BY DOUG HOKE, THE OKLAHOMAN
Teresa Rose shows her living room at 3121 NW 20 in Oklahoma City’s historic Linwood Place neigh-borhood. PHOTO BY DOUG HOKE, THE OKLAHOMAN
SEE LINWOOD, PAGE 2F
2F SATURDAY, OCTOBER 22, 2011 THE OKLAHOMAN | NEWSOK.COMREAL ESTATE
Built in 1920 for busi-nessman John Kilpatrick— whose name now gracesa turnpike — the homefeatures a wide porchcomplete with a porchswing. Rose said she andher daughter are drawn tothe porch swing when itrains. “Even if it’s 40 de-grees, we curl up in blan-kets and go outside, some-times with hot chocolate,”she said.
She has two daughters,Mackenzie, 17, and 13-year-old Paris.
Linwood Place was plat-ted in 1909. The earliesthouses were built on largelots marketed as “countryestates” at the end of thecity trolley line, a refugefrom the bustling city of65,000. It was replattedand subdivided in the1930s, when its distinctiveTudor brick cottages werebuilt. The result is a mix ofstyles, all overhung withenormous trees.
Rose said her home is an“airplane bungalow,” dis-tinguished by the cupolaeffect of the second floorwhere the bedrooms are.She had the second floorremodeled before the fam-ily moved in, merging asmall bathroom and bed-room into a spacious mas-ter bath.
Bold patterns and brightcolors dominate through-out, from bright floralwallpaper in the compactkitchen to the dark red ofthe television room to thesoft gold tones of heryounger daughter’s roomupstairs.
“I truly love and thinkthese kinds of houses areable to absorb lots of tex-ture, lots of color,” Rosesaid. “But it is becausethey are substantial.”
Kept in familiesLinwood Place homes
are so substantial and sobeloved, in fact, that manyare passed down fromgeneration to generation,Rose said. One neighbor’shome, she said, is in thehands of the fourth gener-ation.
It gives the Linwoodneighborhood a dynamicmix.
“The neighborhood is awonderful, old-fashionedneighborhood,” Rose said.“Any given morning,weekend, evening, you’vegot kids on bicycles, you’vegot people walking dogs,running, walking — of allages. There’s young cou-ples, there are seniors andeverything in between.”
Other homes on the tourare:
I 3144 NW 21 — Wayneand Becky Osmond.
I 3315 NW 21 — Tim andAna Lykes.
I 3118 NW 18 — Terryand Micki Glover (hospi-tality house).
I 3240 NW 18 — Barrettand Megan Ellis.
I 3416 NW 17 — Lin-wood Elementary.
FROM PAGE 1F
Linwood: Once a refuge from city life
Left: Linwood Elementary School, 3416 NW 17, will beopen during the Linwood Place Tour of HistoricHomes from 1 to 5 p.m. Sunday.
PHOTO BY PAUL B. SOUTHERLAND,THE OKLAHOMAN
Teresa Rose’s spacious dining room, with living room at left. PHOTO BY DOUG HOKE, THE OKLAHOMAN
Tim and Ana Lykes’ home at 3315 NW 21 will be on the Linwood Place tour. PHOTO BY PAUL B. SOUTHERLAND, THE OKLAHOMAN
The Linwood Place tour will include Wayne and Becky Osmond’s home at 3144NW 21. PHOTO BY PAUL B. SOUTHERLAND, THE OKLAHOMAN
Right: Terry and MickiGlover’s home at 3118NW 18 will be the hospi-tality house for the Lin-wood Place Tour of His-toric Homes.
PHOTO BY PAUL B. SOUTHERLAND,THE OKLAHOMAN
THE OKLAHOMAN | NEWSOK.COM SATURDAY, OCTOBER 22, 2011 3FREAL ESTATE
The generous use ofstone veneer combineswith a front facade richwith gables to give theCanyonville a distinctlyEuropean look. Its lofty,gently arched openinglinks bold columns thatflank the entry portico.More stone veneer wrapsacross the front as wain-scoting, and fills the entireface of the gabled exten-sion closest to the street.
Sidelights brighten thefoyer, which ends at a widecoat closet and an archedpassageway leading to thefamily room. A hallway tothe deluxe owners’ suiteand a convenient powderroom is around the cornerto the left of the foyer. Thewide opening on thefoyer’s right feeds intowhat could be a hobbyroom, library or whateversuits.
Windows fill most of therear wall of the vaultedgreat room at the heart ofthe home. A fireplace nes-tles into a corner by thewindows, and a home en-tertainment center linesthe inner wall.
From the kitchen, youcan watch TV or visit withfamily and friends in thegreat room or the diningroom. A wraparoundcounter is the only separa-tion. The raised outer rimof the counter provides avisual barrier to hide theinevitable clutter of an ac-tive kitchen. The sectionthat fronts the diningroom widens out into aneating-conversation bar.
Counters wrap aroundall four sides of the gour-met kitchen, which is an-chored by a large cooktopwork island. Second floorstairs climb up from a
juncture on one edge of thekitchen, which also haslinks to a large utilityroom, a guest suite, and athree-car garage with ex-tra space for storage or aworkbench.
A bedroom, den and fullbathroom are upstairs inthe Canyonville, plus anunfinished storage roomwith dormers over the ga-rage.
A review plan of the Canyonville 30-775,including floor plans, elevations, sectionand artist’s conception, can bepurchased for $25 by phone, mail oronline. Add $5 for shipping and handling.Associated Designs, 1100 Jacobs Drive,Eugene, OR, 97402.www.associateddesigns.com. (800)634-0123.
HOUSE PLAN
Canyonville’s stone veneergives it a European look
MOORE — Home Cre-ations has entered into anagreement with the Resi-dential Energy ServicesNetwork to measure thelong-term energy per-formance of each newhome the company builds.
It’s called the HERS In-dex, for Home Energy Rat-ing System.
The HERS Index is com-parable to miles per gallonfor vehicles, said AnitaWagoner, director of salesand marketing.
“Every one of our floorplans has a HERS Indexbetween 50 to 70. The low-er the number, the higherthe energy efficiency,” shesaid.
For more information,go online to www.HomeCreations.com/EnergyRatingSystem.
Groups jointo offer homeefficiencymeasurementFROM STAFF REPORTS
NICHOLS HILLS — MetroMark Realtors, 6501 Avon-dale Drive, has added Su-sie Wilson as a residentialreal estate sales associate.
The Oklahoma nativegraduated from HeritageHall then attended South-ern Methodist University,where she earned a bache-lor’s degree in businessadministration/finance/
real estate finance. After college, she
worked for GoldmanSach’s real estate subsidi-ary, The Archon Group,and managed commercialreal estate.
She then worked withDallas boutique realtyagency Allie Beth Allmanfor more than five years.
Susie Wilson joins Metro Mark
Susie Wilson
4F SATURDAY, OCTOBER 22, 2011 THE OKLAHOMAN | NEWSOK.COMREAL ESTATE
The 59th annual Paradeof Homes continuesthrough Sunday withhomes open free to thepublic from 1 to 7 p.m.
“Traffic in the parade ofhomes last year was abso-lutely fantastic, and we ex-pect it to be every bit betterthis year,” said KurtDinnes, owner of SunCustom Homes and chair-man of the parade, whichis organized by the CentralOklahoma Home BuildersAssociation and sponsoredby Womble Co., the statePella window and doordistributor.
Parade guides are avail-able at metro-area BestBuy locations while sup-plies last. A Parade ofHomes app also is avail-able for smartphones.
“What’s so neat aboutthose apps is that literallywhen you’ll download thatapp, you have the entireparade at your fingertips,”Dinnes said.
The app features a mappinpointing all the paradehomes and, if a user tapson a pin, it pulls up infor-mation on that home andits builder. Users cansearch for and rate homesas well.
“The really neat thing isthat it has a built-in navi-gation system, so it willactually navigate you di-rectly from where you areto the home you want to gosee,” he said.
Featured areasThis year’s parade fea-
tures more than 110 homesscattered all across the cityand spotlights six featureneighborhoods:
I Rose Creek, NW 173and May Avenue.
I Parke Place, NW 160and Rockwell Avenue.
I Settler’s Ridge, RenoAvenue and CemeteryRoad.
I Ponderosa Estates,NW 122 and County LineRoad.
I Iron Horse Ranch,Coffee Creek and Coltraneroads in Edmond.
I Williamson Farms,SW 119 and Meridian.
Visitors will be able tobrowse vendors’ wares inthe garages of somehomes, mostly related tohomebuilding. Dinnes saidhis parade home will fea-ture a wrought-iron doorartisan in the garage whilea local car dealer shows offthe latest models in thedriveway.
59th annual Parade of Homes attracts traffic
AllenStyle Homes built this parade house at 3509NW 173 in the Rose Creek addition in northwest Okla-homa City. PHOTO BY PAUL HELLSTERN, THE OKLAHOMAN
Homebuilder Steve Allen stands in one of the smallerbedrooms in the home at 3509 NW 173.
PHOTO BY PAUL HELLSTERN, THE OKLAHOMAN
BY DYRINDA TYSONFor The Oklahoman
Traffic in the parade ofhomes last year wasabsolutely fantastic, andwe expect it to be everybit better this year.”KURT DINNESOWNER OF SUN CUSTOM HOMES AND CHAIRMAN OF THE PARADE
Homebuilder Steve Allensays the player babygrand piano he has setup in his parade home at3509 NW 173 is always ahit. PHOTO BY PAUL HELLSTERN,
THE OKLAHOMAN
SEE PARADE, PAGE 5F
If You Have Something To SellClassified Can Do It — Call 475-3000
THE OKLAHOMAN | NEWSOK.COM SATURDAY, OCTOBER 22, 2011 5FREAL ESTATE
Notes of interestInterest rates on 30-
year, fixed-rate mortgagesdipped below 4 percent,and that may be a factor indrawing out more peoplefor this year’s parade.
“We’ve been seeing a lotof traffic just in homebuilding as a whole,”Dinnes said.
Oklahoma City had is-sued 1,711 building permitsby mid-September, up 0.7percent over the same timelast year — a modest gain,but an important one amida national housing market
that saw housing startsdecline over the summer.
Mortgage rates may notbe the only thing bringingpeople out, though.
Steve Allen, owner ofAllenStyle Homes withfive houses in the parade,pointed out a player babygrand piano gracing theentryway in his Rose Creekparade home.
“We’ve had this piano indifferent parade houses,and people who do playwill come in and ask if theycan play for us,” he said.
One woman in particu-lar comes every year, seek-ing out the house with thepiano.
“She has the most beau-
tiful touch on playing thepiano,” Allen said. Sheplays for an hour or more.“So, these parades now arelike reunions for us be-cause we have a prettygood following, and we seethe same people year afteryear who kind of want tosee what we’ve done, whatwe’ve created,” he said.
Whatever brings peopleout, Dinnes said they’ll beable to browse throughhomes showcasing the lat-
est in technology, designand green building tech-niques.
“It’s just an excellentopportunity to get outthere and see what’s avail-able in the Oklahoma Citymetro area,” he said.
Parade: Interest rates have droppedFROM PAGE 4F
A concrete slide runs down alongside one of the stair-ways in the home at 3509 NW 173.
PHOTO BY PAUL HELLSTERN, THE OKLAHOMAN
The Listing of the Weekis a log home with pool andbarn with electricity, waterand three stalls on 5 acres— with an additional 5acres available — in southOklahoma City.
The 2,028-square-foothome at 15701S Pennsylva-nia Ave. has three bed-rooms, 2½ baths, two liv-ing rooms, two dining ar-eas and an attached two-car garage. The home haslarge rooms with woodfloors. The loft living areahas a ceiling fan. The din-ing room has a cathedralceiling. The kitchen hasgranite counters, eatingspace and a work island.
The master bedroom has abath with whirlpool tuband shower and walk-incloset.
The home has a mu-droom with shower, cov-ered porch, open deck, se-curity system and under-ground sprinkler system.
The home, built in 1999,is listed for $299,000 withJoan Stamman of KellerWilliams Realty.
For more information,call 948-7500 or 826-8054.
Nominations for Listing of the Weekare welcome. Send information onsingle-family homes to The Oklahoman,Richard Mize, P.O. Box 25125, OklahomaCity, OK 73125. Nominations may befaxed to 475-3996.
LISTING OF THE WEEK
The Listing of the Week is at 15701 S PennsylvaniaAve. PHOTO PROVIDED
Property includes loghome, pool and barn
The Central OklahomaHome Builders Associ-ation selected several cate-gories of award winnersthis week during the an-nual Parade of Homes.
The parade continuesthrough Sunday with morethan 110 new homes andseveral neighborhoodsopen for tours from 1 to 7p.m. Parade of Homes planbooks are available at met-ro-area Best Buy storeswhile supplies last. Down-load the OKC Parade ofHomes app for interactiveinformation about thehomes.
Neighborhoods beingspotlighted are: RoseCreek, NW 173 and MayAvenue; Parke Place, NW160 and Rockwell Avenue;Settler’s Ridge, Reno Ave-nue and Cemetery Road;Ponderosa Estates, NW 122and County Line Road;Iron Horse Ranch, CoffeeCreek and Coltrane roadsin Edmond; and William-son Farms, SW 119 andMeridian.
The award winners are:
Edmond areaI Under $250,000: Au-
thentic Custom Homes for17325 Ridgewood Drive inRosewood Estates in thecategories of Best Owner’sSuite, Best Kitchen (tie)and Best Decorated. Brass-brick Platinum SeriesHomes for 19009 SummerGrove Ave. in The Grovefor Best Landscaping, BestKitchen (tie) and BestOverall Design.
I $250,001 to$350,000: McGregorHomes for 4925 Silent SunCircle in Arbor Creek forBest Landscaping and Best
Owner’s Suite. Awards forBest Kitchen, Best OverallDesign and Best Decoratedwent to McCaleb Homesfor 4925 Leaves of Grass inArbor Creek.
I $350,001 to$450,000: Landmark FineHomes for 18300 Salvadorin Valencia for Best Land-scaping, Best Owner’sSuite, Best Kitchen, BestOverall Design and BestDecorated.
I $450,001 to$550,000: ManchesterGreen Homes for 1508 NW187 in Barrington 3 for BestLandscaping, Best Own-er’s Suite, Best Kitchen,Best Overall Design andBest Decorated.
Northwest areaI Under $250,000: Au-
thentic Custom Homes for8325 NW 142 in PleasantGrove for Best Landscap-ing (tie), Best Owner’sSuite, Best Kitchen, BestOverall Design and BestDecorated. Joe RobertsConstruction Co. for 8300Heather Glen Drive in Cot-tonwood Farm II for BestLandscaping (tie).
I $250,001 to$350,000: Jeff ClickHomes for 17320 WhiteHawk Drive in Silverhawkin the categories of BestOwner’s Suite, Best Kitch-en and Best Decorated.Award for Best Landscap-ing went to AllenStyleHomes for 7029 NW 160 inParke Place. Best OverallDesign went to JusticeHomes for 4701 NW 154 inLone Oak Cove.
I $350,001 to$450,000: McCalebHomes for 13101 Rock Ca-nyon Road in CanyonLakes for Best Landscap-ing, Best Owner’s Suite,
Best Kitchen, Best OverallDesign and Best Decorat-ed.
I $450,001 to$550,000: Justice Homesfor 7604 NW 130 Terrace inCanyon Lakes for BestLandscaping, Best Own-er’s Suite, Best Kitchen,Best Overall Design andBest Decorated.
I $550,001 to$650,000: Crabtree Cus-tom Homes for 3228 NW177 in Rose Creek for BestLandscaping, Best Own-er’s Suite, Best Kitchenand Best Overall Design.
I $650,001 and over:Allenton Homes for 3509NW 173 Circle in RoseCreek. Allenton Homeswon awards in Best Land-scaping, Best Owner’sSuite, Best Kitchen, BestOverall Design and BestDecorated.
West areaI $350,001 to
$450,000: Crabtree Cus-tom Homes for 2220 Wa-
terford Lane in Stone Millin Yukon for Best Land-scaping, Best Owner’sSuite, Best Kitchen, BestOverall Design and BestDecorated.
Southwest areaI $250,001 to
$350,000: KCI Homeswon the Best LandscapingAward for 12608 HorsepenRoad in Williamson Farms.Awards for Best Owner’sSuite, Best Kitchen, BestOverall Design and BestDecorated went to SunCustom Homes for 12508Horsepen in WilliamsonFarms.
I $450,001 to$550,000: Landmark FineHomes for 3005 Monica inThe Willows in Moore forBest Landscaping, BestOverall Design and BestDecorated. Hill’s Land andConstruction for 7319 Jor-don Drive in Hill’s Whis-pering Lakes for BestOwner’s Suite and BestKitchen.
Parade of Homes winners listed FROM STAFF REPORTS
6F SATURDAY, OCTOBER 22, 2011 NEWSOK.COMTHE OKLAHOMAN 7FSATURDAY, OCTOBER 22, 2011THE OKLAHOMAN NEWSOK.COM
8F SATURDAY, OCTOBER 22, 2011 THE OKLAHOMAN | NEWSOK.COMREAL ESTATE
Don Taylor, 1228 SW 96,canopy-carport, erect,$1,000.
DemolitionsWitt Construction Inc.,
615 NW 16, garage.Ben Ortiz, 4017 N Henney
Road, residence.William S. Murphy, 108 N
Tuttle, residence.
Permits
Life would be really easyfor the do-it-yourselfer ifsolid wood were behind allthe drywall in your house.Then every time you need-ed to install a shelf or hangsomething heavy, youcould just drive in a screwand be done with it.
Alas, that’s not the case,and so instead we have agroup of fasteners that arelumped together under thegeneral heading of “dry-wall anchors.” Drywall an-chors are designed to beinstalled into the drywallwhere there’s no wood,and give you a solid placeto attach whatever it isyou’re looking to hang.
If you’ve looked on theshelf in your local homecenter or hardware store,you’ve no doubt noticedthere are many differentdrywall anchors to choosefrom. Let’s try to clear up alittle bit of the confusion.
Plastic anchorsPlastic anchors are some
of the most common of thedrywall anchors, and arethe ones you’ll often findincluded free with thehardware packet in differ-ent home improvementitems you buy. Plastic an-chors are also the lightest-duty drywall anchors.
To use the anchor, youfirst need to drill a pilothole in the drywall. It’simportant that the hole bethe correct diameter forthe anchor being used, be-cause if it’s too large, theanchor will rotate in thehole and won’t grip cor-rectly, and if it’s too small,it’ll distort as you drive itinto place. The pilot-holediameter should be listedon the packaging.
After drilling the hole,tap the anchor into place
until the anchor’s shoulderis flat against the wall. Ribson the outside of the an-chor grip the drywall, andhold the anchor in place. Ascrew that’s matched tothe anchor in diameter andlength is driven into theanchor to expand it insidethe hole, locking it inplace. Once the anchor islocked, the screw can beremoved and reused, andthe anchor will remain inplace.
Plastic wall anchors aresized according to thelength and diameter of thematching screw, so selectone based on how big ascrew you need for whatyou’re hanging.
Hollow wall anchorsFor medium-duty use,
there are the hollow wallanchors, also commonlyknown as “molly bolts.”Some types require that apilot hole be drilled in thedrywall first, while othershave a pointed end and canbe driven into the drywallwith a hammer.
With either type, oncethe anchor has been in-serted or driven into thewall, the preinstalledscrew is tightened. Tight-ening the screw pulls theend of the anchor forward,toward the back side of thedrywall. As it does, themetal sides of the anchordistort into a mushroomshape, locking the anchoragainst the wall. Once theanchor is locked, you can
remove the screw from theanchor, insert it throughwhatever it is you want tohang, then reinstall thescrew into the anchor.Screws can be removedand reinstalled with thistype of anchor.
Hollow wall anchors aresized for the thickness ofthe material they’ll be in-stalled in and the length ofthe screw. They’re avail-able for ½-inch- and 5⁄8-inch-thick drywall, as wellas thinner materials suchas hollow doors.
Drive anchorsDrive anchors are easy to
use, and offer bothmedium- and heavy-dutyapplications in both plas-tic and metal varieties.Both types are self-drillingand don’t require a pilothole — they’re installed bysimply screwing them intothe drywall with a screwgun. Both types have widescrew threads that cut andgrip into the drywall. Afterthe anchor itself is in-stalled in the wall, a screwis driven into it to expandthe anchor, locking it inplace. The screw can thenbe removed and reused.
Drive anchors are typi-cally available in only onescrew diameter, but can beused with different screwlengths.
Toggle boltsA toggle bolt is a long
machine-threaded screwwith a pair of spring-loaded metal wings at theend. First, drill a pilot holeof the correct diameter.Insert the toggle boltthrough the object youwish to attach, then com-press the wings and pushthem into the hole in thewall. Push the screw into
the wall until the wingspop open again inside thewall. Pull back on thescrew so the wings are incontact with the back ofthe wall, and tighten thescrew. Toggle bolts workwell for heavier installa-tions, but if you remove thescrew, the toggle wings in-side the wall are lost.
Toggle bolts are sized bythe diameter and length ofthe screw, depending onthe thickness of the wall
and the thickness of theobject you’re attaching.
Another type of togglebolt is called the Snap-Toggle. It works in a simi-lar fashion, but has a dif-ferent design that allowsthe wing to remain in placeif the bolt is removed.SnapToggles are a littlemore expensive than con-ventional toggle bolts, butare faster and easier to in-stall, and are a betterchoice if you intend to re-
move the item being fas-tened.
Drywall anchors areavailable at home centers,hardware stores, lumber-yards and many other re-tailers. Be sure to followthe manufacturer’s specif-ic instructions for installa-tion and load ratings.
Remodeling and repair questions? [email protected]. All productreviews are based on the author’sactual testing of free review samplesprovided by the manufacturers.
INMAN NEWS
Hang shelves, art with right drywall anchorsPaulBianchina
HANDY @ HOME
THE OKLAHOMAN | NEWSOK.COM SATURDAY, OCTOBER 22, 2011 9FREAL ESTATE
GRANGER TOWNSHIP, Ohio —Maybe it was youthful opti-mism that drew Kris and MartyRyan to the dilapidated houseon the eastern edge of GrangerTownship.
Then again, maybe it wasdivine guidance.
The house once had been acountry church, which wasprobably a good thing. TheRyans would need plenty ofstrength from above to getthrough the 20 years it tookthem to finish its renovation.
Now the former East GrangerDisciple Church is a comfort-able home for the Ryans andtheir four children, Katie, 23,Joe, 20, Kelsie, 18, and Molly,who turns 12 next week. It’s atestament to the Ryans’ visionand hard work, not to mentiontheir willingness to ignore thenaysayers.
“Everybody kept saying, ‘Areyou nuts?’ ” Kris Ryan recalledwith a laugh.
The church, built in 1830 andclosed in 1925, had already beenconverted to living quarterswhen the Ryans happened uponit while they were trying to findanother house in the area thatwas for rent. But it was hardlytheir dream home. The placewas vacant and overgrown, thefirst floor was closed in by anoppressively low ceiling, andthe house didn’t even haveindoor plumbing.
One look at the old structuraltimbers, though, and the Ryanswere hooked.
They bought the house in1986 and spent the first yearliving with her mother in Cuya-hoga Falls, Ohio, while theyworked on the building, just toget it to the point where it washabitable.
The bank required a con-struction plan before it wouldapprove a loan, so Marty Ryandrew one up even though he hadno real construction experience.
“We basically walked aroundand he’d say, ‘OK, how wide doyou want this hallway?’ ” hiswife remembered.
Marty Ryan, a chemistryteacher at Cloverleaf High
School, did most of the workduring summer vacations.They’d save or borrow to payfor each stage as they wentalong, and they’d put up tem-porary walls to block off the
unfinished areas so they didn’thave to live with a constantreminder of the mess.
Except for the electricity andplumbing and the constructionof a garage, the couple did allthe work themselves with helpfrom friends and family mem-bers. They ripped down oldhorsehair plaster. They tore offold roofing. Marty Ryan likes toremind his wife that he’s tou-ched every square inch of theplace.
The Ryans added a secondfloor, turned part of the atticlevel into a bedroom and cre-ated a gathering area on the
first floor with a kitchen, familyroom, dining room and even aspace for Kris Ryan’s in-homeday care business. The lastroom, their daughters’ second-floor bedroom, was finished infall 2006.
One of their favorite rem-nants from the old church is itscemetery, which lies just be-yond their backyard and is nowmaintained by the township.Kris Ryan calls it “my tranquil-ity center.”
“I just find so much peacewalking through there,” shesaid. “I really feel that it watch-es over us.”
She feels a spiritual presenceinside the house, as well. Fam-ily members have heard voicesand seen apparitions, includinga figure of a man that used tofrighten her children but hasn’tbeen seen since the Ryans gotrid of a couple of pieces of fur-niture they believe his spiritmay have been attached to.
Kris Ryan’s experience, onthe other hand, has been morepositive. She’s seen a figure of agirl in the house, whom shebelieves is one of the school-children pictured in a photo ofthe church’s front porch.
To her, the presence is com-forting. She thinks that goodfeeling has to do with the manyprayers that have been lifted inthe building and the good ener-gy that remains from its history.
“I’m sure this is one of thehappiest places to be,” she said.
That joy is one of the reasonsthe Ryans love the house.They’ve been especially heart-ened by the people who havestopped by over the years toremark on their work, sharetheir memories of the houseand thank them for preservingit.
Kris Ryan isn’t sure shewould do it again, but shedoesn’t regret the decision.
“I feel very proud,” she said.“You know what? I really feelthis is my home.”
MCT INFORMATION SERVICES
Former country church becomes a home BY MARY BETH BRECKENRIDGEAkron Beacon Journal
The Ryan family, Joe, Molly, Marty, Kris, Kelsie and Katie, stand in front of their home, a renovatedformer church, in Granger Township, Ohio. MCCLATCHY-TRIBUNE PHOTOS
Left: Katie Ryan reads in herthird-floor bedroom at thehome her parents renovatedinto living space from a churchin Granger Township, Ohio.
10F SATURDAY, OCTOBER 22, 2011 THE OKLAHOMAN | NEWSOK.COMREAL ESTATE
CHICAGO — Beneath a makesh-ift shelter of canvas and bamboooutside the Hyatt Regency Chi-cago, rabbis and community or-ganizers sought to reclaim theancient Jewish celebration ofSukkot by calling on the real es-tate finance industry to help fam-ilies hold on to their homes.
Activists said the demonstra-tion, which they insisted was nota protest, served to remind par-ticipants at the Mortgage BankersAssociation’s annual meetingthat they have a moral responsi-bility to protect struggling home-owners caught off guard by thenation’s housing crisis.
Organizers invited bankers todine with them underneath theawning Jews call a sukkah, andhear heartfelt testimonies fromthose touched by the rapid de-cline in residential real estate.
The location of the demon-stration also underscored activ-ists’ concern that bankers andother businesses aren’t uphold-
ing the Jewish value of repairingthe world. In June, many of thesame religious leaders declared anumber of Hyatt hotels “not ko-sher” for the company’s mis-treatment of workers and calledfor a boycott until conditions im-proved.
Though unrelated, organizerssaid the Sukkot demonstrationwas intended to highlight themost visible sign of economic in-justice amid a series of rallies inrecent weeks across the nation,including Chicago, that have gal-vanized activists for economicequality.
Sukkot commemorates the pe-
riod of time Israelites wanderedin the desert toward the PromisedLand after they were freed fromslavery in Egypt.
Rabbi Lizzi Heydemann saidthe festival’s ancient meaning al-so applies to modern times. Fam-ilies erect flimsy huts outsidetheir homes to celebrate “all ofthat which makes our lives bothlivable and beautiful.” They alsoreflect on ways to make that a re-ality beyond the walls of theirhome and synagogue, she said.
Jews can’t ignore the circum-stances that stand in the way ofcreating a better world for every-one, she said.
“Housing foreclosures are rip-ping apart one of the importantpieces of fabric of family life andAmerican life,” said Heydemann,co-rabbi of Aitz Hayim Center forJewish Living in Glencoe, Ill., andMishkan, an independent Jewishcommunity in Chicago’s LincolnPark neighborhood.
At the gathering, lawyer RayGrossman told the crowd that for35 years he never encountered aclient who defaulted on a homeloan. Now he has about two doz-en clients facing foreclosure.
“This is extremely frustratingbecause no one expected to gothrough what we’re goingthrough,” said Grossman, amember of the Jewish Recon-structionist Congregation inEvanston, Ill.
Jane Ramsey, executive direc-tor of the Jewish Council on Ur-ban Affairs, said community or-ganizers have witnessed familiesacross the income spectrum af-fected by the economic crisis in avariety of ways. The coincidenceof the conference at the Hyatt il-lustrates the wide scope of injus-
tice, she said.The council joined rabbis, can-
tors and other faith leaders incalling for a boycott of Hyatt ho-tels and putting pressure on thePritzker family, the largest stake-holders in the Hyatt Corporationand an observant Jewish family inChicago. Thomas Pritzker, exec-utive chairman of Hyatt’s board,declined to comment.
“Sukkot is a very meaningfultime to lift up the whole notion ofshelter and, in this case, the un-stable nature of housing todayand the insecurity that familiesare feeling,” Ramsey said.
Heydemann said the holiday isa reminder that while a housemay not last, families do.
“You realize the holiday isabout the precariousness of life,making the most of people whosurround you,” she said. “Becauseyour house may not be perma-nent. But who are the people whoare there with you? What kind oflove do you create with them?And what kind of world do youwant to see outside the walls?”
MCT INFORMATION SERVICES
Rabbis urge bankers to help homeownersBY MANYA A. BRACHEARChicago Tribune
Sukkot is a very meaningful time to lift up thewhole notion of shelter and, in this case, theunstable nature of housing today and theinsecurity that families are feeling.”
JANE RAMSEYEXECUTIVE DIRECTOR, JEWISH COUNCIL ON URBAN AFFAIRS
DEAR BARRY: Whenwe bought our condo, thehome inspector said wemight have trouble withthe dryer vent, and he surewas right. The laundry isin the middle of our home,in a hall closet; so the dryerhas to vent vertically, upthrough the roof.
This causes two prob-lems: The vent becomesclogged with lint, andmoisture in the duct caus-es the ceiling to becomewet. Can anything be doneto correct this problem?
BobDEAR BOB: A vertical
dryer vent is typically aproblem because it acts asa moisture condenser. The
sheet metal duct is cooledby the outside air in the at-tic. This causes the steamfrom your dryer to becomeliquid on the inner surfaceof the duct. This wetnesstrickles down and mayleak at duct fittings, caus-ing wetness and possiblemold on affected materials(such as your ceiling).Moisture in the duct alsotends to collect lint, which
forms an increasinglythick layer on the vent sur-face, thereby reducing theefficiency of your dryer.
The problem begins byplacing the laundry facilityin an impractical locationin the building. If the dryerhad been located near anexterior wall, it would havebeen simple to vent it hori-zontally through the wall.When a laundry is situatednear the center of a home,especially if there is a slabfoundation, a vertical ductis often the only option forventilation.
Unfortunately, a hori-zontal vent duct is not re-quired by code. If it were,architects and builders
would be more practical intheir placement of laundryfacilities.
One solution, in yourcase, would be to relocatethe laundry to a more sen-sible location, dependingon the layout of your floorplan. Otherwise, the ductshould be modified or re-placed with one that hasno fittings where leakage islikely to occur. Periodicservicing of the vent ductwill be needed to removeaccumulated lint.
DEAR BARRY: I plan tobe traveling this winterand want to winterize myhome. Some friends haverecommended drainingmy water heater and turn-
ing off the gas. Others saythis is not a good idea.What is your opinion?
RandyDEAR RANDY: It is not
a good idea to turn off awater heater completely.When a water heater be-comes cold, all of its con-stituent parts shrink.When you relight the bur-ner at a later date, re-ex-pansion of the fixture cancause leaking at the fit-tings, and replacement ofthe unit might then benecessary.
The recommended pro-cedure when you leavehome in winter is to turnthe water heater thermo-stat to the “vacation” set-
ting. The pilot light re-mains lit, maintaining aslightly warm water tem-perature within the fixtureuntil you return home.
If your home is heatedwith gas, it is also wise toleave the gas service onwhen you are away. If thetemperature drops belowfreezing, lack of heat canallow freezing water tosplit your pipes, and thiscan cause major damage tothe building and its con-tents. Instead, you shouldturn the thermostat to thelowest setting, usuallyabout 50 degrees.
To write to Barry Stone, go towww.housedetective.com.
THE OKLAHOMAN | NEWSOK.COM SATURDAY, OCTOBER 22, 2011 11FREAL ESTATE
WASHINGTON — With hundreds ofthousands of homeowners facing immi-nent foreclosure and estimates of 2 mil-lion or more in the wings, are there anyfinancial tools available todistressed borrowers thathaven’t been tried yet?
Equally important po-litically: Is there a way tohelp owners that won’track up huge federal ex-penditures and add to thedeficit?
The Obama adminis-tration has been exploring options in-cluding a new refinancing program ex-pected later this month, but a concepthas surfaced on Capitol Hill that mightoffer modest help with no revenue costto the government: Amend the tax codeto allow homeowners who have 401(k)retirement plans to pull out money tosave their houses from foreclosure with-out the usual tax penalties.
The change would work like this:Under current rules, anyone makingwhat’s known as a “hardship” earlywithdrawal of funds from their 401(k)must pay a 10-percent penalty on top ofordinary income taxes. A bill introducedOct. 5 would waive the penalty if thepurpose of the distribution is to makeloan payments to avoid loss of a primaryhome to foreclosure.
Co-authored by Sen. Johnny Isaksonand Rep. Tom Graves, both Republicansfrom Georgia, the bill would allow own-ers to pull out up to $50,000. The mon-ey could be used in a lump sum to paydown the delinquent mortgage balanceor to fill shortfalls caused by reductionsof household income. It could also be
used as part of loan modification agree-ments with lenders designed to avert aforeclosure.
However the money is used to resolvethe mortgage delinquency,it would need to be spentwithin 120 days of receiptand could not exceed 50percent of the currentamount of funds in theretirement account.
Owners would still besubject to income taxeson the amounts with-
drawn, but would escape the penalty.Though neither of the co-sponsorsclaims the bill would actually raise reve-nues — they simply say it won’t cost thegovernment anything — some pensionprogram experts say it might.
Edward Ferrigno, vice president forWashington affairs at the Plan SponsorCouncil of America, a group that repre-sents employers who offer workers401(k) accounts, said that by triggeringtaxable distributions from otherwiseuntouched, tax-deferred plans, the bill“should generate revenues.” Ferrignodeclined to comment on the bill overall,pending further review of its provisions.
Titled the HOME Act, the proposalsheds light on the potential foreclosure-avoidance resources — and the draw-backs — connected with tapping em-ployee pension accounts. Many, but notall, 401(k) plans allow for loans to par-ticipants, including for housing-relatedpurposes. Retirement advisers generallyrecommend taking a loan from a planbecause the money withdrawn is nottaxed or penalized. Borrowers are re-quired to pay interest on the loan, but in
effect they are paying it to themselves tooffset the earnings forgone on the bal-ances taken out.
Many 401(k) plans also provide for“hardship” withdrawals. However, thesecome with much stricter rules, fewereligible uses, plus the tax penalties. TheInternal Revenue Code limits hardshipdistributions to situations where there isan immediate and urgent financial need,and there are no other funds available tomeet this need. On top of that, the rulesrequire that taxpayers must opt first fora loan from the retirement plan — ifpermitted — before pursuing a hardshipwithdrawal.
Though avoiding foreclosure is one ofthe permitted hardship uses under thecode, the 10-percent penalty discouragespotential users, Isakson and Graves ar-gue. Their bill would remove that disin-centive and provide an emergency es-cape hatch for owners sliding fast to-ward foreclosure.
Putting aside the potential positives,are there downsides to making a hard-ship withdrawal from your 401(k), even
penalty-free? You bet. Pulling out 401(k)dollars early — with or without a taxpenalty — is still an expensive way toraise money. Not only does it deplete thetax-deferred savings you’ve set aside,but in the case of hardship withdrawals,you are prohibited by federal rules frommaking new contributions to your planfor six months.
Even if the HOME bill makes itthrough Congress — and there’s no as-surance it will — taking the hardshiproute should never be your first choice.It should be your last resort, whenthere’s nothing else that will save yourhouse and you don’t want to walk away.
However, also consider the pensionplan alternative that may already beburied away in your plan documents: asave-the-house loan to yourself. If thenumbers work, and you have a reason-able chance of avoiding foreclosure andrepaying the loan, check it out.
Many 401(k) plans also provide for “hardship” withdrawals.However, these come with much stricter rules, fewer eligibleuses, plus the tax penalties. The Internal Revenue Codelimits hardship distributions to situations where there is animmediate and urgent financial need, and there are no otherfunds available to meet this need. On top of that, the rulesrequire that taxpayers must opt first for a loan from theretirement plan — if permitted — before pursuing a hardshipwithdrawal.
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