Listing of the Week in Edmond.

14116 Canterbury - $309,900
4 Bed 3 Bath 2,954 Square Feet

View Obeo Virtual Tours at:

www.14116Canterbury.com

This Edmond home is located in prime area. It was custom built in 2002 on a large over sized lot. Some of the features of this home include: large open floor plan, hardwood floors, tile floors, vaulted ceilings, built-in bookcases, large kitchen with breakfast bar, beautiful woodwork, updated color schemes, bonus room, 3 living areas, huge backyard, large covered patio, etc. This home is perfect and ready for new owners! Call Wyatt Poindexter for more info.

Wyatt Poindexter
Keller Williams Realty
405-417-5466
wyatt@wyattpoindexter.com
www.WyattPoindexter.com

Email Wyatt if you want your property to be "Listing of the Week".

Contemporary Living on Lake Overholser

4 Bed 3.5 Bath 3 Car Garage 4,867 Sf with Pool - $559,000

Visit: www.4000Ramsey.com
for more professional photographs and Obeo Virtual Tours

Modern living in the Northwest Oklahoma City/Yukon area. This home was custom built in 1993 in gated Stonebridge Lake Estates. This home features beautiful lake views of Lake Overholser, walking distance to tennis courts, jogging trails, etc. Some of the features include: game room, exercise room, upper deck, wood floors, tile floors, open floor plan, updated paint, updated fixtures, remodeled master bathroom, etc. Please view Obeo Virtual Tours at www.4000Ramsey.com. Call Wyatt Poindexter for more information.

Wyatt Poindexter
Keller Williams Realty
www.WyattPoindexter.com
405-417-5466
wyatt@wyattpoindexter.com

Oklahoma City is a great place to live!

Nationally, home prices are falling, unemployment is on the rise and the economy is expected to grow slowly--or even contract--in the first half of the year.

But Oklahoma City is doing just fine. With falling unemployment, one of the country's strongest housing markets, and solid growth in agriculture, energy and manufacturing, it looks best positioned among the nation's largest metropolitan areas to ride out the current crisis.

www.WyattPoindexter.com

How to Evalutate a Home Sellers Asking Price

Evaluating an owner's asking price is crucial to your investment. The seller can set the asking price at whatever he or she wants. There are no laws or rules that must be followed when setting an asking price for a property. In fact, there are many strategies for pricing a property that can be related to motivation, negotiation, emotional investment in a property, and so many others..
Let's first look at some possible seller strategies for pricing a property so we understand how pricing can be dependent upon so many issues.
The seller could have an idea in his or her head as to what the property is worth, and, without any consultation, pick a price out of thin air. Or they could look at comparable sales (comps) of properties that have sold near the property to determine a fair market value. They can then price the property higher or lower, depending on how motivated the seller really is.
If there are no comps to compare properties, the seller may have to judge a property's worth based on a different type of property, property that sold a long time ago, and adjust for appreciation, or even look at neighboring, comparable cities that could indicate what the property is actually worth.
A truly fair seller could get appraisals done by a few different people, and take the average of the values.
Keep in mind, however, appraisals can be very expensive and are at best a guesstimate as to what a property is worth.
The best way to evaluate a seller's asking price is to blatantly ask the Realtor or seller, how the price was determined, and to give supporting evidence.
You may find yourself in a situation where the broker has a pile of comps, perhaps an appraisal, and supporting documentation as to why the property is priced at what it is. If you find yourself in this situation, beyond validating and verifying the supporting documents, you will very easily be able to evaluate if the asking price is above, at, or below market value. This is the easiest situation in which to find yourself.
Unfortunately, although this previous example is how every property should be presented to a buyer, it is not always realistic. You may have to ask the broker for comps and do the research yourself in order to evaluate the seller's asking price.
If the property is in your own community, then, as a real estate insider, you should know your real estate market inside and out. However, if you are searching in an unfamiliar area, you will need to request the services of other commercial real estate players.
If you do decide that the seller's asking price is in alignment with your investment strategy and goals, and you put the property under contract, the next step would be to get an appraisal done by an independent party that has no interest in the subject property whatsoever, in order to validate your assumptions.
This appraisal, after all, will be similar to a bank's appraisal and help to determine how much money can be loaned on the project. The closer you are to the bank's appraisal, the better shape you will be in to meet project costs, debt service and make your desired profit.
Knowing what a property is really worth and evaluating the seller's asking price are two major ways that you can approach making a sound and final decision regarding an investment. Always have supporting and verified documentation for the subject property so you know exactly what you are getting and for what price.

Good News...Housing is still OK in Oklahoma

Numbers don't lie, they say, but numbers can confuse, and Oklahomans seem confused by disturbing national housing statistics.

Despite consistently increasing home values -- from a statewide average sales price of $116,298 in 2002 to $149,758 in 2007 -- about half of Oklahomans surveyed said they thought the state's housing market was in fair or poor shape.

Oklahoma City is still known for its "healthy gains" in home prices in a monthly sales report from the National Association of Realtors. The steady stream of negative news from national news sources is drowning out the good news. Oklahoma is still going strong even though the days on the market are a little longer than last year. Not to worry, Oklahoma is still a great place to live!

Wyatt Poindexter
Keller Williams Realty
405-417-5466
www.WyattPoindexter.com

Listing of the Week in Val Verde of NW Oklahoma City

12801 Plum Hollow - Val Verde

$776,900

5 Bed 4.5 Bath 5317 SF

Enter this 2007 remodeled home and experience a new standard of luxury living. This Gil Wright home has every amenity imaginable for the home owner who wants the very best. Precisely an entertainer’s dream, this home is set to please the largest of parties. The use of stone and brick combine to create a home of unparalleled beauty. Situated on approximately 1.5 acres of prime real estate, the new owner will find 5 bedrooms, 4.5 Baths, 5 living areas, a gourmet kitchen, 4 fireplaces, custom pool, flagstone patio/deck and spa with fountain, a grand foyer, holiday closet, photography room, and a oversized three car garage that is sure to please all in a home that has approximately 5,300 square feet. Whether your looking for a grand home to entertain or the ease of comfortable and quiet family living this home truly offers it all. CALL WYATT POINDEXTER w/ KELLER WILLIAMS REALTY for more information at 405-417-5466

VISIT OBEO VIRTUAL TOURS AT: www.OBEO.com/413634

Listing of the Month in Canyon Lakes

13201 Blue Canyon Circle

$525,000

3 Bed 2.5 Bath 3450 SF

Exquisite attention to detail defines this stunning Allenton Fine Homes custom-designed home in gated Canyon Lakes. Nestled on a quiet wooded lot, this home features a main-level master suite with patio access, 2 secondary bedrooms, 2.5 baths, a gourmet island kitchen, butlers pantry, formal dining room, living room with vaulted ceilings and fireplace, study/office with built in bookcases, full room audio controls, huge master closet, etc. Canyon Lakes is a private gated community located between Northwest Oklahoma City and Edmond. It features private ponds, walking trails, campsites, community pool and clubhouse. This property is within minutes from local shopping mall, food, Mercy Hospital, golf, turnpike, etc. The property evokes joy through its serious beauty and proportions, its whimsical elements, its spectacular landscape and setting. An uncontrived flow to the property makes it both exceptionally livable and suitable for year-round entertaining at any level. Truly, this is a house to see today and come home to tomorrow. Please contact Wyatt Poindexter w/ Keller Williams Realty for detailed list of amenities or for your own private showing. Please see Obeo Virtual Tours and professional photographs.

VIEW OBEO VIRTUAL TOURS AT:

www.OBEO.com/483712

NBA Owners Approve Supersonics to OKLAHOMA CITY!

The Sonics could begin playing in owner Clay Bennett's hometown as early as next season if they can get out of the remaining two years of their lease at KeyArena.

Owners voted 28-2 in favor of the move, with Dallas and Portland voting against. Mavericks owner Mark Cuban has previously expressed concerns about the market size, and commissioner David Stern said the Trail Blazers, owned by Seattle software billionaire Paul Allen, didn't say why they voted the way they did.

"The vote further confirms that Oklahoma is in the big leagues and can compete with anyone," Oklahoma Gov. Brad Henry said in a statement.

Buyers Are Still Buying Homes!

To hear the national media tell it, homebuyers are fools to buy right now. Home prices have dropped 5 percent since October 2006. Our economic problems aren't over, so home prices are bound to drop further. Why would anyone catch that falling knife? But there are some markets out there that are making monkeys out of housing bears.

According to the National Association of Realtors, home prices are higher in 93 out of 150 metro areas.
Which markets are sizzling? Charlotte, North Carolina, San Francisco; Albuquerque; and Green Bay, Wis., among others.
But don't take NAR's word for it.
Forbes Magazine has noticed the red glow from those cities and others. The magazine just named 10 cities where home prices are going through the roof, including
Forbes: 2007 Best U.S. Housing Markets:
Salt Lake City, 246,700, up 14.1%
Charlotte, S.C., $220,000, up 11%
San Jose, Ca., $852,500, up 9.4%
San Francisco, Ca., $825,400, up 8.6%
Raleigh, N.C., $229,500, up 7.5%
Austin, Tx $188,200, up 7.2%
Pittsburgh, Pa., $127,700, up 6.1%
Seattle, Wa., $394,700, up 6%
San Antonio, Tx, $154,700, up 5.7%
Portland, Or., $299,700, up 5.2%

House Hunting Tips for Buyers

Get to know the inventory of homes available in your target area. Some of these listings will never work for you, either because they aren't large enough or because they have defects you might not be able to live with, like a lot of stairs to the front door. You can drop these listings from your radar.
Find an agent who specializes locally and who will keep you well informed on local market conditions. Ask your agent to sign you up for a listing alert program that will send you information directly from the multiple listing service when new listings come on the market or when the status of a listing changes.
Of particular interest are listings that are back on the market, and ones that have had a price reduction. If a house that's back on the market is one you were interested in, find out why the deal fell apart. In the past, it was commonly assumed that if a transaction failed it was due to inspection-related issues, not financing. Today, we're seeing more transactions fall apart because the buyers were unable to secure financing. A seller who just lost a deal because the buyer couldn't perform could be receptive to a reasonable offer from a better-qualified buyer.
Don't assume there's something wrong with the house if it's back on the market, or if it has been unsold and on the market for a long time. In a changing market, it's often difficult to select a list price that will bring about a speedy sale. Keep an open mind about listings that have had price reductions. These could have been mispriced to begin with. If the sellers are motivated, they will reduce the price until it is in line with the market.
Some unsold listings haven't moved because they need too much work. In today's market, the most salable listings are those that are in move-in condition. Properties that need work should be priced to account for the work that will need to be done.

2008 Presents Opportunities for Homebuyers

The New Year started with promise for homebuyers as falling rates combined with lower prices to boost housing affordability. The average rate for 30-year fixed-rate mortgages (FRMs) in the Southwest, which includes Texas and Oklahoma, fell to 6.06 percent in early January from a December average of 6.10 percent. At the same time last year, the 30-year FRM averaged 6.18 percent. Five-year Treasury-indexed hybrid adjustable-rate mortgages (ARMs) slipped to an average 5.76 percent from a December average of 5.81 percent. A year ago, the 5-year hybrid ARM averaged 6.02 percent. One-year Treasury-indexed ARMs averaged 5.44 percent in early January, down from a December average of 5.50 percent, and almost even with the average 5.42 percent one year ago.
"The latest home sales data came with a few light notes," said Freddie Mac Chief Economist John Nothaft. "While new home sales fell in November to the slowest pace since April 1995, existing home sales rose," Nothaft said. Rising existing home sales may be a sign that the market is stabilizing, according to National Association of Realtor's Chief Economist Lawrence Yun. "Mortgage interest rates are near historic lows and the most current data shows decelerating price declines, along with a modest reduction in the number of homes on the market," Yun said. In other words, 2008 is starting with good opportunities for buyers to get into homes.

Wyatt Poindexter
Keller Williams Realty
http://www.wyattpoindexter.com/

Oklahoma City January Listing Of The Month

12801 Plum Hollow Drive in Val Verde

$829,900

Enter this 2007 remodeled home and experience a new standard of luxury living. This Gil Wright home has every amenity imaginable for the home owner who wants the very best. Precisely an entertainer’s dream, this home is set to please the largest of parties. The use of stone and brick combine to create a home of unparalleled beauty. Situated on approximately 1.5 acres of prime real estate, the new owner will find 5 bedrooms, 4.5 Baths, 5 living areas, a gourmet kitchen, 4 fireplaces, custom pool, flagstone patio/deck and spa with fountain, a grand foyer, holiday closet, photography room, and a oversized three car garage that is sure to please all in a home that has approximately 5,300 square feet. Whether your looking for a grand home to entertain or the ease of comfortable and quiet family living this home truly offers it all. View this home's professional photos and virtual tours at: http://www.WyattPoindexter.com/

Wyatt Poindexter
Keller Williams Realty
5629 N. Classen Drive
Oklahoma City, OK 7311
405-948-7500
405-417-5466
wyatt@wyattpoindexter.com

January 22, 2008 Market Update

Mortgage and Treasury bond prices are rallying this morning in response the The Fed's surprise move to lower the Fed Funds rate by 3/4 of a point. This is the largest single rate cut since 1984. With the next Fed meeting just over a week away on January 30, today's action was a very unusual move, indicating the severity of the conditions in financial markets. In addition to today's cut, investors are also expecting another half point cut in the Fed Funds rate at next week's meeting. The Dow was down as much as 464 points earlier this morning, before bouncing back and recovering more than half of the losses. No economic data will be released today.

Wyatt Poindexter
www.WyattPoindexter.com
Keller Williams Realty Oklahoma
(405) 417-5466

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

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.

Most Expensive Zip Codes in the U.S. for 2007

In case you missed it last week, Forbes published their list of the 500 most expensive zip codes in the U.S. for 2007.
07620 (Alpine, New Jersey) and 33109 (Fisher Island, Miami Beach, Florida) tied for the top spot, with a median price of $3.4 Million.
The rankings are based on median sale prices from June 2006 to July 2007 and are dominated by zips in California, Florida, and the NYC metro area. If the rankings surprise you, it is worth noting that, as with all such studies, the methodology determines the results. As the author notes:
Though often shorthand for neighborhoods, ZIP CODES don't change to reflect shifting neighborhood or demographic boundaries. The result? Our list is a bit slanted toward low-density enclaves like Alpine, where there are 333 people per square mile, as opposed to parts of Manhattan, where there are 45,800 people per square mile and a larger variance of home prices.

Our Company...Keller Williams Realty

Founded in 1983, Keller Williams Realty Inc. is an international real estate company with more than 600 offices located across the United States and Canada. The company began franchising in 1991, and following years of phenomenal growth and success, became the fourth-largest U.S. residential real estate firm in North America in 2006. The company has succeeded by treating its associates as partners and shares its knowledge, policy control and company profits on a system-wide basis.
Structured for Success
The interdependent business model of Keller Williams Realty supports agents and brokers working as a team to maximize personal productivity and company profits.
Most real estate companies operate on a dependent model where the broker provides leads to salespeople and then offers them a commission, or they operate on an independent model where agents receive minimal support from the broker but keep more of the commission. In contrast to these traditional models, the Keller Williams model fosters a synergistic environment where both parties succeed through teamwork, by encouraging agents and brokers to share their best practices with each other and reward associates who help the company to grow. It is these industry-changing philosophies that have fueled the recent growth of Keller Williams Realty past older, more established companies to claim a top-four spot in the real estate industry.

Courtesy of: www.KW.com and www.WyattPoindexter.com

The Keller Williams Difference

At Keller Williams Realty, we like to think we stand out from other real estate firms in many ways, but these areas in particular define Keller Williams Realty as an industry innovator and leader: Culture, Education, Profit Share, and Technology.

We are a company built and shaped by talented, driven real estate professionals who know the value of having a great career, accomplished colleagues, work-life balance, and a reputation for being the best in the business.

We focus on helping associates realize their fullest potential. You will find opportunities for growth, support for achieving your objectives and a true sense of family and belonging.

Your success is our goal.... Make today the day you begin the next fulfilling chapter in your life and career.

Courtesy of : www.KW.com and www.WyattPoindexter.com

The Keller Williams Philosophy

Our Mission:
To build careers worth having, businesses worth owning and lives worth living.

Our Vision:
To be the real estate company of choice for a new generation of sales associates and real estate owners.

Our Values:
God, Family, then Business

Quarterly Industry Update

Mortgage Fraud Bill Advances - A bill defining residential mortgage fraud passed in the North Carolina Senate in June 2007. Experts say it is likely that prospective home buyers with weak or no credit history will find it
more difficult to secure mortgages if the bill becomes law. Prosecutors
could charge mortgage sellers who lie or intentionally leave out information even if the buyers don't lose money. The bill moves to the House of Representatives for a final vote.
Subprime Issues Impact Market Psychology - Problems in the US housing market are mostly contained within the subprime mortgage sector, according to mortgage financer Freddie Mac. Rising default rates in the subprime sector are confined to a few geographic regions, a company vice president says. The biggest threat, according to Freddie Mac, is the fear that problems will spread to the larger real estate and other financial markets.
New Home Sales Continue Falling - New US home sales fell 21.1 percent in
the first five months of 2007 compared to the same period in 2006.
Residential real estate brokers are negatively impacted by declining home sales. Sales declined 30.9 percent in the West, 21.4 percent in the Midwest, 21.1 percent in the Northeast, and 20.6 percent in the South.

First Research, Inc.
866-788-9389 voice
http://www.firstresearch.com/