Oklahoma’s Housing Market Going Strong

The value of your home may be going up. Home values are predicted to drop nationwide with places like Las Vegas, Miami and Los Angeles taking the biggest hits. But that's not the case in Tulsa. News On 6 anchor Craig Day reports that Tulsa is near the top of the list for homeowners expected to make the most money off their investment in the coming year.
The National Association of Realtors predicts the price of existing U.S. homes will fall slightly this year. But according to Fiserv Lending Solution's predictions, it won't happen in Tulsa. That comes as no surprise to realtor Darryl Baskin.
"While the rest of the country is seeing a slump, we're often trudging right along and seeing increases," he said.
Baskin is an area realtor and hosts radio and television real estate programs. He says most years homes in Tulsa appreciate 3-5%. That's right in line with a new analysis that predicts Tulsa home values will go up 4.3% from this April to next April, the second best market in the nation.
Many of those housing markets expected to see drops over the next 12 months have seen dramatic increases over the past few years. In fact, in many of those markets the home values have doubled over five years. But in those markets the bubble has seemed to have burst. Tulsa on the other hand has seen a steady, gradual increase in home values.
“The drawback is we don't have people here who are making hundreds of thousands of dollars on real estate, but that's more of a lottery mentality. Here you have people who buy homes, we rarely see it go backwards, and we don't have to deal with the upheaval that the bubble would create," Baskin said.
Baskin predicts the Tulsa area will have a slight increase in demand and slight decrease in supply over the next year, which translates into a stable market.
"As long as it doesn't go too far one way or the other there's a good deal for buyers and sellers, and that's where people win," he said.
Oklahoma City homeowners are expected to see their homes appreciate in value over the next year by 3.1%. The biggest gainer is McAllen, Texas at 9.8%. The biggest loser is Las Vegas at -8.9%.

Courtesy of KOTV

www.WyattPoindexter.com
Keller Williams Realty

Top 10 Most Stable Housing Markets in America

The Top 10 Most Stable Housing Markets in America:

A few years ago growth was all people were talking about. Now the buzz word in real estate is stability. Having property values increase slightly and hopefully beat inflation is making the consumer very happy since many markets are expecting double digit declines in value.
So what are the most stable markets in the country? Forbes ran the numbers and here are cities they have come up with.

1. Seattle, WA – 3.09% est. price increase from 2007–2008
2. Pittsburgh, PA – 3.37%
3. Columbus, OH – 3.49%
4. Dallas, TX – 5.45%
5. St. Louis, MO – 3.01%
6. Cincinnati, OH – 2.65%
7. Atlanta, Ga – 4.4%
8. San Antonio, TX – 5.35%
9. San Francisco, CA – 2.5%
10. Fort Worth, TX – 3.09%

Oklahoma has been very comparable to the Dallas, TX market!!!

Real Estate Continues to be THE Best Long-Term Investment

Perceptions about real estate have been skewed in recent months due to the overwhelming focus on national figures. While average sales and prices help us identify trends, the fact is all real estate is local -- conditions vary greatly from one city to the next. Unfortunately, that news is largely unreported.

Builders and Realtors cannot allow the national media to report what it deems to be the proper perspective on the value of real estate. They must get out in full force and spread, with repetition, one simple message:

"Real estate is the single best investment one can make."

www.WyattPoindexter.com

A Positive Outlook on Real Estate

There is one word to describe the current housing market: optimistic. Despite months of hearing about a housing bubble and rising mortgage rates, the outlook for real estate is good. The worries of a bursting real estate bubble actually seem to be low among homeowners. In a national survey conducted by ING Direct, most individuals experienced some growth in their home value in the past 12 months. The average increase was approximately 6%, with owners in New England and Pacific states having the largest growth. The values of homes in south central states remained about the same. Most homeowners do not seem concerned about a downturn in the real estate housing market. Almost 74% of the individuals surveyed, who have owned their homes for more than three years, remained optimistic about the value of their home. The 30-year fixed rate mortgage is at its highest point in four years. However, as it hovers at 6 percent, it is still a relatively low rate compared to the exceedingly high rates of the late 1980s when mortgage rates increased to over 10%. According to Freddie Mac, there are indications of a strong economy, which is why mortgage rates have increased lately. Consumer confidence is on the rise and existing home sales is also on the upswing. This can be attributed to a positive labor market. As most people know, healthy employment leads to greater consumer spending. Consumer perception is everything. With the continued view that real estate is a good investment, people will continue to buy and sell houses. This will bode well for home buyers, home sellers, real estate salespeople, mortgage lenders and just about anyone related to the real estate industry.

November Listing of the Month - Edmond

This astonishing Jack Arnold Old World design home is situated on more than 2 acres in the exclusive gated community of Eagle's Cove. Spanning more than 4400 square feet, this masterpiece has been crafted with the utmost attention to detail--no expense has been spared. Highlights of this home include extensive built-ins, beautiful wood floors, gourmet kitchen, granite counters, stainless appliances and professional landscaping. Enjoy an exquisite presentation of incomparable design with breathtaking views and functional gathering places that embrace the social and private aspects of everyday life. Experience the essence of the Eagle's Cove lifestyle as the natural elements and a luxurious estate blend into a home that will stir your soul. Priced $80,000 below appraisal. PRICED AT $799,900.00

View this Edmond Virtual Tour at www.3500BrookValley.com

Call or email Wyatt to nominate your home as the "Listing of the Month"

wyatt@wyattpoindexter.com or 405-417-5466

Real Estate in Oklahoma

In North Oklahoma City, the houses are in lots and buyers can definitely get more for their money. There is a high prevalence of older houses available here. It looks that this area is more neutral for the buyers as well as for sellers. Overall, the market has been absolutely well.

The Oklahoma City Metro area is surrounded by many small suburbs like Yukon, Mustang, Edmond, Bethany, Deer Creek, Tuttle and Moore, are vigorously growing area with a strong heartbeat and active lifestyles. The Oklahoma City Metro is becoming increasingly familiar. Don't miss your chance to live in this great metropolitan area. All these areas are easily commute with the Oklahoma city. This area posses many sleepy little towns which imparts the small hometown feeling. Oklahoma city is the great place to live, work, shop and enjoy.

Oklahoma City Information

Oklahoma is a state of the south-central United States. Oklahoma was incorporated as the 46th state in 1907. First discovered by the Spanish, it was opened to settlement in 1889. The western part was formed in 1890 as the Oklahoma Territory, which was merged with the adjoining Indian Territory to form the present state boundaries. The Dust Bowl of the 1930s forced many farmers to move west as migrant laborers. Oklahoma City is the capital and the largest city. Population estimated as: 3,540,000.