WE ARE STILL FIGHTING the current proposed OSU Master Plan Expansion!

At the Board of regents meeting, Dec 2, Dr. Schmidly stated that he would like to meet with us. I know he stated the same thing to those representing the faculty and students. I do not know if Dr. Schmidly has met with the faculty and students. However, I do know that he has been too busy to this point to meet with us. He said he was in hopes he might be able to meet with us before 2006. We were in hopes to meet with Dr. Schmidly to see if we could all work together in a cooperative manner. Perhaps he will have time to do that before the Board of Regents meeting on Jan. 27 in Muskogee.

**(As of today, Dec.15, we DO now have a meeting with Dr. Schmidly.)

WE NEED HELP! Are you willing to work on a committee to:

  1. Do research on street closings, revenue tax loss effect on citizens, schools, etc. in the City of Stillwater .
  2. Be a part of a coalition for the city of Stillwater residents?
  3. Be willing to work with faculty and students of OSU regarding their concerns?
  4. Could you make phone calls, help circulate a petition?
  5. Write letters to Board of Regents, Legislators, editors in Stillwater papers and around the state, and to the city of Stillwater?
  6. Research OSU Foundation Funding and policies
  7. Research alternative sites for location of the Athletic Village?
  8. Gather information regarding homeowners, rental property owners, offers given for property, manner in which such transactions have been handled and the satisfaction of property owners in the transactions, as well as OSU acquisitions to date?
  9. Draft a moratorium for the City and State regarding eminent domain parameters?

Please email us, , to let us know in what capacity you would most like to “serve.”

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  1. Anonymous says:

    The property I own were appraised the first week in December. I recorded my conversation with the appraiser after he completed his appraisals. Our conversation lasted over 12 minutes. Following is the transcription:

    DECEMBER ———–
    Cinnabar Appraisal of rental properties:

    The appraisals took approximately 15 minutes each. The appraiser measured the outside of each of the structures and conducted a walk-through of the interior of each structure. He had a checklist and it appeared that he was noting what large appliances were included with the structures. There was no dialogue between the appraiser and the owners during the inspection.

    Following is a transcript of the conversation with the appraiser employed by Cinnabar, after the appraisals of the above-referenced rental properties were completed.

    Speakers: CA = Cinnabar Appraiser
    PO = Property Owner

    CA:…they can’t do that [make an early announcement] because there’ll be insider trader stuff going on, and then there’ll be lawsuits. It’s got to be, it’s got to be an announcement on one day, but that, that…

    PO: What do you mean insider stuff?

    CA: Well if they, if they were uh, if they, if they, uh, you know – how would you see it – an announcement taking place?

    PO: Well I…you have to let people know that there, number one, that there’s a plan to do this—number one, and get public reaction to that. I think building an athletic village people would be going, “That’s stupid,” no matter where they put it. Then, I mean, try to get the public opinion of that and then think it through. And if it’s so negative, as it has been—I would suggest that it would have been anyway—then how do you think people are going to react to it, coming at it this way? Not very well. And then you couple it, and triple it, and compound it with, you know, closing streets, all kinds of things. How would you do an announcement? There’s no insider business. The insider business was Boone Pickens giving them money and saying I want my playpen in this area. That was the insider. So the insider stuff has already occurred, in my opinion. That and the sale by the Bonds. And they’re business partners in this deal. And their property is not going to be considered in the market value. That is absolutely absurd.

    CA: The market value is as of the day of the announcement.

    PO: OK, that’s insider stuff that you’re talking about. The insider business went on and went down before the announcement – so there has been insider activity in this whole deal. They didn’t want that considered in the market value, so they did it and it hasn’t even been closed, so why isn’t it part of it? They haven’t closed on it. They’re closing in January, so what eliminates that from being considered? It hasn’t even been closed on.

    CA: It’s a bulk sale for one thing.

    PO: The deal could go bad…the deal could go south…

    CA: That’s right…so it isn’t part of the market.

    PO: Why isn’t it? You said “in the market at the time of the sale.” An offer has been made.

    CA: An offer’s been made in a bulk sale.

    PO: OK, here’s how it’s working…this is how I see it. If that’s not going to be considered as part of the market value, they’re closing January 4, the sale will be done, so you’re saying it can’t be considered. Is that what you’re saying?

    CA: At the effective date of the appraisal, it’s got to be a closed sale.

    PO: OK. What – they’re jumping on this trying to get appraisals? Are they trying to get appraisals out before January 4?

    CA: Oh, I’m going to have appraisals to them before December 15.

    PO: OK. So, they’re going to try to get it out before that so…before January 4, or date it before January 4, so we can’t say or claim that should have been considered in this? So, what does a bulk sale have to do with this?

    CA: Well, if you were buying something in bulk, wouldn’t you pay less for it?

    PO: No.

    CA: Well, most people do.

    PO: No. So, if they’re paying less for it and it would be more advantageous for them, why would they want it public? You can’t have it both ways. You’re trying to have it both ways. “We’re buying it in bulk for less—but we don’t want you to know that we’re buying it for less.” That doesn’t help them. Or that we WAY overpaid. And who determines that it has to be a closed sale before it’s considered in market value?

    CA: The Appraisal Institute. The National Guidelines of the Appraisal Institute.

    PO: So after January 4, that can be considered in the market value?

    CA: Not if you made the inspection before at the…[time of the announcement].

    PO: Then why in the hell didn’t someone tell somebody that? Why didn’t they say, “If you have the inspection, though, before the close of the Bond sale, you have lost your right to have that considered in the value of your property”?

    CA: It’s a…it’s a bulk sale.

    PO: So, what?

    CA: I’m not going to use any sales out of a bulk sale on an appraisal.

    PO: Why not?

    CA: We don’t do that anywhere. That’s…we’re not treating you…the appraisers aren’t treating you any different. If somebody goes out and buys one lot in a subdivision, you know, if a builder goes out and buys one lot in a subdivision and he buys 10, don’t you think he’s going to want a deal on the 10, he gets it as a matter of course. If somebody buys…uh, my experience as a real estate appraiser—21 years, has been that when someone sells a bulk sale in, wherever…in Tulsa, and they sell 10 rental properties, they do it in a package deal and they get a better price than if they had sold them one by one.

    PO: So people that have 10 pieces of property in this area…

    CA: I’m not saying that…I said that’s a bulk sale.

    PO: What constitutes a “bulk sale”?

    CA: Anything sold in a group. If somebody’s got 10 properties, like you’ve got two, I appraise those separately and independently…those are just like, I mean it doesn’t matter to me who owns them. As long as the transaction that I’m using for market comparable is not a piece of a bulk sale. You know…I mean…if…I don’t know any of these people that you’re talking about…I know there’s a transaction where there’s 30 or 40 properties all sold at once, and, and, I don’t know what those were, but how do you…if they say we’re going to accept three million bucks for 30 properties, how do you…how do you break it out? What’s worth what in that? It’s one contract for X amount of dollars for the whole mess. I don’t know how to break it up.

    PO: You don’t think there’s a formula that could be devised that…

    CA: No.

    PO: Oh, come on.

    CA: They’re duplexes…

    PO: Come on…

    CA: Well, I’m not going to argue with you.

    PO: Well, I mean…it’s a bulk sale, but it’s not—it has value, and it’s valued as…

    CA: Don’t believe me. Call an appraiser of your own.

    PO: It’s not that I don’t believe you, it’s that…and it’s what you said and the key is, if properties are appraised before the close of that bulk…any sale, that piece of property can’t be considered in market value. That’s bologna. You do comps all the time. I mean—well, why didn’t they tell anybody? That’s what I’d like to know.

    CA:I don’t know the answer to that.

    PO: Is that their policy usually? Don’t tell people…

    CA: What?

    PO: What they’re actually getting into until after it’s done?

    CA: It, it won’t affect the value of your property one way or the other.

    PO: Well, I don’t think they would convince people of that.

    CA: I don’t think they’re going to convince people of much of anything at this point. I really don’t. There are too many inflamed people. I will tell you in my experience so far, about, it’s running about 80/20. About 80 percent are ready to sell, about 20 percent aren’t. Of the the 20 percent that aren’t, are really, not really wanting to sell. The people that aren’t interested are REALLY not interested.

    PO: Well, I think the people who aren’t interested have sort of an inkling that they are not being told the whole story. The facts are not adding up.

    CA: Well, if it’s any consolation to you, this…I mean when I did these kind of appraisals around the University of Tulsa it was the same way.

    PO: And did the take it by eminent domain?

    CA: Umhu.

    PO: And what did they use that property for?

    CA: They used it for parking lots, they used it for the new tennis facility, they…uh…they got a lot—I mean they’ve done…that’s a pretty broad deal, that greater good thing.

    PO: It has to be a necessity.

    CA: Well, I saw them take a whole…I’m not going to argue with you…but I took all those appraisals classes and the powers of the State are pretty broad.

    PO: Well, I agree with that.

    CA: I think they’re trying to tighten them up in the legislature.

    PO: And, I agree with that and I think they’re probably going to do it.

    CA: That was a private university. This is a state university which, they’ve got a little broader powers, but they’ve also got a little bit more…I mean their regents and people like that come under a lot more fire than the private…

    PO: Sure they do. The Governor does, too, when the regents do stupid stuff.

    CA: TU just arbitrarily took, I mean stuff that I didn’t think…

    PO: Would fall under that?

    CA: I’m sure that some of the logic is that they wanted a block of land where they could build a state-of-the-art athletic village that would be incomparable to anything around the nation, and this was the logical direction to come. Sorry that your…

    PO: It isn’t the logical…I mean…

    CA: Which would be the logical direction?

    PO: West.

    CA: Well, that’s a separation of campus, and that’s what OU did and that’s what some of the others have done, and it disjoints the campus.

    PO: I went to OU and…and, they’re going to beat the pants off us no matter where it is—disjointed or not disjointed…I mean…

    CA: At least they’re putting up some money to put them on some even ground.

    PO: Well, that’s the key, too. This is, this is by private funds by a private individual to buy it…to buy property, and I…

    CA: I think it’s going to the Foundation.

    PO: But, the Foundation does not have the right of eminent domain power, the University does. So, they’ll flip it back to the University so they’re diverting funds every which-way, where-ever they need them. So, the whole thing is creepy and you don’t care about that.

    CA: I’ll tell you who really want this, is like that Patio Apartments.

    PO: Well, that’s the Bond’s place. The Bonds own the Patio Apartments.

    CA: Yeah, I know, but the big apartment complexes around here, none of them are making any money…they’re running for it.

    PO: Sure. The Bonds are business partners. That’s crazy. That’s a conflict of interest right there.

    CA: I don’t know anything about that.

    PO: That’s the deal that has been made for January 4.

    CA: Let me assure you that I’ll do the very best I can on the appraisal on your two properties.

    PO: I’m sure you will.

    CA: They’re putting a push on these. Thanks for being on time.

    PO: Thank you for being on time.

  2. doug emde says:

    This is exactly why I told the attendees at the City of Stillwater informational meeting to get a copy of the assignment letter! From this conversation, they appear to have set an effective date for all appraisals at sometime in November 2005. The market has changed since the announcement. In one case a home that was under contract before the announcement, had the contract purchased by an investor and closed for 20% more than the listed price. Taking 400 units off the market will have an effect on value throughout the city because replacement units cannot be built fast enough to meet demand. Real estate is subject to the economics of supply/demand just like anything else. We are having a decrease in supply and an increase in demand which will lead to inflation. Sounds to me like the foundation realized this would happen so set the effective date at a time prior to this driving marketing force. There are recorded sales during the last 6 months that have doc stamps affixed which any appraiser should consider. They indicate that the owners were paid anywhere from $11.07 to almost $16.00 per square foot for the available sites. Also watch the Board of Regents v. Jane Earnest case closely. The BoR is trying to keep from answering questions in the case concerning purchases of Craig Buchanon’s and Marie Malave’s property. Ask for the assignment letter and the entire appraisal so that you can send a copy to the Oklahoma Real Estate Appraisal Board in the event that you feel a law or rule has been violated.

  3. Well, the Board of Regents can refuse to answer the question about how we were paid, but I put their letters and the sales contracts on our site : http://www.arewefreeyet.org (in the BLOG section). The long and short of it is that we “sold” our house for $123,000 as far as we were concerned. According to their lawyer, they paid 115,000 for the house and the other $8,000 was a settlement for the harassment and trespassing that OSU did trying to get us to come to the bargaining table.

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