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Greater Tulsa Area Real Estate Market Report for March

by Randy Gasswint

Here is the March Tulsa Area Real Estate Market Report, Number of homes for sale is tight, only 4.5 months worth of inventory. Please let me know if you have any questions or if I can help you, your family, neighbors or co-workers with their real estate needs. Thanks!
http://builder.marketreportbuilder.com/pdf/view/2462

 

 

 

South Bridge Homes For Sale - Bixby New Construction

by Randy Gasswint

South Bridge homes for sale constitute some of the most desirable real estate options in Bixby, Oklahoma. This neighborhood offers one of the best locations for growing families, as well as professionals who want a great, convenient location. Lighted sidewalks provide a safe place to walk at any time; the local park area features a playground, as well as a splash park for exciting summer entertainment. Bentley Park offers plenty of recreational opportunities for the whole family and Lake Bixhoma is the perfect place to spend time on a weekend.

South Bridge Homes For Sale

There are several unique new construction homes in South Bridge to consider. The Cody features an open floor plan complete with breakfast nook and room for a growing family. Darlington homes feature living areas with soaring ceilings and master suites that provide a bit of privacy. The Aberdeen features a split floor plan with an over sized kitchen. All of the different floor plans have something unique to offer.

All of the home prices start in the $160,000 range. This is a very affordable price range for professionals who are moving into the area. Prices for some of the more expensive homes range into the $200,000's. These homes provide a good amount of square footage for their price and are built with the needs of growing families in mind.

South Bridge Homes For Sale

South Bridge homes for sale are close to some great public schools. The Bixby Public Schools provide students with a quality education Monday through Friday, while the weekends can be spent at the Woodland Hills Shopping Mall which is just a 10 minute drive from the community. This mall has all of the quality shopping and dining that everyone looks forward to in an area like this. 

To schedule your personal viewing of these new homes in Bixby, please give me a call at 918-231-5734.

The Territory New Construction Homes in Bixby, OK

by Randy Gasswint

The city of Bixby is a fast growing community which now offers The Territory homes for sale. This new construction subdivision in Bixby is the ideal place many visitors and current residents can’t wait to call home. Chalk full of amazing features, amenities and it’s convenience to expressways and other transportation outlets, you’ll find it easily accessible for commuters. Families love the community play area, neighborhood basketball courts and tree lined streets that make the area feel so warm and inviting. Situated just ten short minutes from Lake Bixhoma and Bentley Park, you’ll never be short on things to do. Bixby is also just moments away from some of the best shops, dining establishments, local entertainment and its dedication to bringing new business to the area. 

The Territory Homes For Sale
 
Residents have been entrusting Simmons Homes with all of their building needs for over 20 years. The Territory homes for sale offers dwellings that currently start in the $130s and feature square footage of up to 2300. This new construction subdivision in Bixby offers 3 plus bedrooms with features which include spacious kitchens with a center island, master bedrooms with extended walk-in closets, great rooms with large 9 foot ceilings, indoor utility areas and two car garages with attic space.

The Territory Homes For Sale
 
The Bixby Public School System is extremely proud of its commitment and dedication in relation to its education and student achievement. Located in southeast Tulsa County is a close knit community with a population close to 15,900. The breathtakingly beautiful Arkansas River Valley is a popular rural atmosphere, and the ideal location so many newcomers love to call home. The commitment to excellence is proven through Bixby’s dedication to academic growth and athletics. It’s also in part to Bixby’s solid community spirit, where the citizens of the community support the youth, and their many achievements. 

The Bixby School District is host to over 5,300 students. The schools are fully accredited by the state of Oklahoma City and separated into various groupings that include elementary, intermediate, middle and high school.
 
To schedule your personal viewing of these new homes in Bixby, please give me a call at 918-231-5734.

Tulsa Foreclosures Rise February 2013

by Randy Gasswint

In the Oklahoma area, foreclosures have dropped in the year 2013 so far. There is one area in Oklahoma that is not experiencing this drop in numbers, and instead is facing a rise in foreclosures. Tulsa is the area where foreclosures are actually on the rise this year.


RealtyTrac Inc. findings include over 640 foreclosures in the Tulsa area. These numbers make a 31% rise in January, and a 0.6% rise in February. Statewide the foreclosure rate is only up 10% and down 23% from the previous years, so you can see how Tulsa pulls far ahead of the average numbers of foreclosures in Oklahoma. Nationwide the numbers are down by 25% from a year ago. 

Daren Blomquist, vice president at RealtyTrac stated that foreclosure rates have decreased in a 65 month period of time, even though there was a national increase. Rates are expected to continue to fall, while the Tulsa area continues to see an increase in Tulsa foreclosures. 

Daren Bloomquist also reports, "at a high level, the U.S. foreclosure inferno has been effectively contained and should be reduced to a slow burn in the next two years," he said. "But dangerous foreclosure flare-ups are still popping up in states where foreclosures have been delayed by a lengthy court process or by new legislation making it more difficult to foreclose outside of the court system."

Florida still tops the list as the number one state for foreclosures. There is one per every 282 households topping the national average, with Nevada coming in a close second.

Tulsa Real Estate Sales Start Strong For 2013

by Randy Gasswint

While the housing market has weathered some volatile trends during the past few years, Tulsa real estate is now providing good news for hopeful investors. Sales of homes are up significantly during the first month of 2013.

Compared to the same time period in 2012, the housing sales for 2013 have already resulted in strong growth and profits. The available home listings are moving quickly as buyers are eager to offer top dollar for premium properties.

The boost in nationwide housing sales has resulted in a sharp decline among inventory listings. Experts report that inventories for Oklahoma and other states have dropped by almost a third. For many realtors, this is credible proof that the marketplace has regained its footing.

People are now highly motivated to sell. These same individuals are also anxious to up the ante. Today it is a sellers' market and Tulsa homeowners are discovering that they need to take advantage of this situation. In order to command top dollar, local homeowners are busy performing home improvements and working on the curb appeal of their properties. They know that buyers are going to be attracted to homes which have been upgraded and well-maintained.

According to members of GTAR (Greater Tulsa Association of Realtors), 2013 single family home sales increased by almost 6% in January. A total of 719 property titles were transferred to happy home buyers during this time.

2012 was a significant year because the Tulsa real estate market demonstrated steady growth throughout the year. Overall in 2012 there was a 16.2% rise in housing sales compared to 2011. 2013 is already on track to surpass these numbers and the January sales figures did not disappoint. This year, Realtors posted the highest number of January home sales since 2008.

As foreclosures and inventory both continue to decrease in number, the Tulsa real estate market is expected to continue its steady growth. The selling price for many Tulsa communities is steadily rising as demand outstrips the supply. Homes that are valued between $100,000-$200,000 are especially desirable. Tulsa realtors have reported the inventory for these homes has already begun to diminish and fewer distressed homes are expected to enter the marketplace during the coming months.

For more information about the Tulsa real estate market and trends, please contact Randy at 918-231-5734.
 

Top Tips to Saving on your Tulsa Home Insurance

by Randy Gasswint

With insurance costs on the rise, it may be a good time to take a look at your Tulsa home insurance policy and find ways to lower your bill. The spike in rates can be attributed to an increase in the number of disasters, high cost of repairs and significant number of mold claims.

The following are suggestions to help you lower your rates:

  • Stick with the Same Insurance Company. If you have your Tulsa home insurance policy and vehicle policy with different companies, you may want to use the same insurer for both. Some companies have an incentive in place that may reduce your premium by as much as 15 percent.
  • Change Your Deductible. Changing your deductible from $500 to $1000 can save you close to 25 percent.
  • Shop Around. To ensure that you’re getting the best price for the services that are being offered, you want to obtain a minimum of three quotes. Evaluate the price, services provided in each policy, and the best customer service in case you need to file a claim.
  • Safety and Security. Many companies offer a discount for homes with an alarm system, smoke detectors, dead-bolt locks and sprinkler system. Research the costs to determine the savings involved.
  • Review Your Policy. Going over your policy with your agent each year can help you find additional places to save money. If you’ve given away your diamond necklace or other valuables covered under a floater policy, you will no longer need additional coverage.
  • Ask About Discounts. Your policy holder will be able to tell you if you qualify for other discounts such as being 55 and older or being a long-term customer without any claims.
  • Lessen Your Odds for Disaster. Find ways to make your home resistant to catastrophes such as hurricanes and storms by installing shatter-proof glass on your windows, storm shutters and reinforcing the shingles on your roof. For older homes at a greater risk for fire and water damage, you can consider updates to your electrical, heating and plumbing systems.

Top Tulsa Mortgage Mistakes Made Every Day

by Randy Gasswint

Frequent Tulsa Mortgage Mistakes

Most of us would like a piece of real estate to call our own. Tulsa real estate has been thriving for a while now, and if you are in the market for a good deal, you should know how to strike a good mortgage. However, there are a few common mortgage mistakes that must be avoided: 

Get Preapproved

Never begin looking for a home without being preapproved for a loan. You stand a better chance of getting the apartment of your choice when you have a complete loan approval along with the commitment letter.
 
Never settle with a verbal
 
Never ever settle a deal with a verbal agreement, no matter how well you know the seller. The same applies when you are buying from family. Verbal agreements have no legal standing, and in the event of something untoward happening, you don’t stand a chance of the law being on your side. 

Shop Around
 
Just because a lender gives you the lowest possible rates on your mortgage doesn’t make him the best choice. Look around for others, and, more importantly, scrutinize the loan proposal for loopholes.
 
Good Faith Estimates
 
Make sure that you get the Good Faith Estimate – that is the fees you will be charged for the loan, within three days of the application being filed. The loan is not something you should take on if the final figures are hugely different from what you were told. 

Interest Rates
 
Should you be going in for the locked rate of interest, make sure that this point is mentioned in the loan agreement. 

Get Inspected
 
Always make time to have all the inspections of the house carried out; only then can you take it over for occupation.
 
Insure Insure Insure
 
As soon as you have accepted an offer, then it would be the perfect time to plan out your home insurance. You have to make do with the fact that no project is handed over on the day mentioned.
 
And finally,
 
Have a Plan B
 
Do not have a rigid time-frame for the deal to be complete. Put a plan in place to deal with unexpected delays.

Tulsa Tops Healthiest Housing Markets

by Randy Gasswint

The housing industry has seen a dramatic rise and fall in recent years, and it has many wondering if there were any areas unaffected by the unstable market. Fortunately, the answer is yes.

Several cities in Texas, Oklahoma and Montana are continuing to see solid sales and were not bothered by the housing decline. Some of the cities heading the list include Dallas, Midland, Corpus Christi, Billings, Tulsa and Oklahoma City. 

Long established properties such as Tulsa homes have failed to be hurt by the real estate stall and some say that the reason for its continued growth is because of the gasoline price increase. Oil towns have a lower than average unemployment rate, and their property values are higher than other areas in the U.S. This means that the pool of inventory is increasing, and there is a lot of activity out there in the real estate world that is garnering huge sales for both buyers and sellers. 

For people looking to make a solid housing investment, the oil belt areas are their best bet because of the rise in oil production. Natural gas and oil companies are not only bringing energy to these areas, they are also adding a variety of employment opportunities. With the added job growth come families who are in need of homes. All of this has a positive effect on the real estate industry, and you can see why these cities have not been affected by the housing bubble burst that so many other cities have been witness to. 

The oil booms in Texas and Oklahoma can produce enough energy for every family in the United States to last upwards of five years. Areas in Oklahoma are also seeing their energy operations expand along with their workforce. This means that the industry will drive Tulsa homes to exceed what their sales have produced over the past few years.

Buying Tulsa Homes - A Smart Choice Equals A Smart Move

by Randy Gasswint

The Tulsa real estate market offers plenty of great deals and exceptional real estate options for those seeking a new home. Tulsa homes offer affordable prices and interest rates as well as a prime location in the heart of one of the country’s most economically robust regions. Prospective Tulsa homebuyers should keep these four tips in mind when searching for their dream home in the city.


Life Timing (not market timing) is Key

Market timing can be very tricky. However, life timing is just as vital in buying or selling a home. For example, spring is the best time to sell a home as it allows buyers the best weather to travel in to see homes for sale. Likewise, making decisions based on your personal and financial situation is much safer than trying to predict the ups and downs of the real estate market. 

Haggle Smartly 

Home pricing can make or break a sale. Those looking to buy should exercise caution and be prepared to haggle for the best deal available. Try not to overpay for a home but instead do a thorough inspection to gain enough knowledge of the sale. Making your best offer and closing easily are the best ways to buy a new home quickly and painlessly. 

Working with Real Estate Agents is Important

Every home sale and real estate agent is unique. Working closely with a buyers’ agent in a low inventory market lets buyers know about new houses as soon as they hit the market. Buyers who see homes they like yet are out of their price range should keep track of the sale price and be patient. Overall, working with an agent is a great way to learn insider knowledge about real estate markets, especially low inventory ones.

Buy or Sell One House at a Time

Selling and buying simultaneously has never been more difficult. Tulsa homebuyers should always consult with a local real estate expert on how to proceed when both buying and selling. Often it may make sense to buy and sell at the same time given the specific market conditions and inventory. Renting out your current house while looking to buy a new home is another option local house hunters should keep in mind.

Top 10 Reasons Why You Can't Buy Tulsa Real Estate

by Randy Gasswint

Purchasing that choice piece of Tulsa real estate really IS within your grasp. With lower interest rates and affordable housing prices, the real estate market is ripe for the picking. 

 

Why then, are a number of these potential housing deals falling through the cracks? Why are some people not able to make it through the escrow process? Why are others having problems trying to get the necessary financing? After all, this has become a buyer's market.

There are some common stumbling blocks that make it difficult to finalize the purchase of the home that you want. Tulsa real estate experts want you to know the top 10 reasons why people are disqualified by lenders and mortgage brokers.

1.
  An indecisive (or hesitant) buyer can be their own worst enemy. Indecision can kill any financial deal. It is best to have your loan approval before you begin checking out those homes that are available.

2.  Individuals who are self-employed should not have income losses in their Schedule C form. These are business losses that are being deducted from the gross income amount. If you are losing money at your business a bank loan officer will not be eager to grant you a home mortgage.

*This may be offset if your income figures for depreciation, net profit or depletion are extraordinarily good.

3.  Gifts of money from friends and relatives must be placed in writing. In other words you need a signed and dated letter to prove that your money was really presented to you in the form of a gift. There must also be a statement from the originating bank that can show the ability of your "angels" to offer this money as a gift.

4.  Having to obtain seller concessions (credit) to help pay the closing costs can derail your loan attempt.

5.  Those government backed home loans can have higher appraisal guidelines. This means it can be more difficult for the average consumer to get approved for one of these loans. A conventional loan will have more relaxed standards in place.

6.  The money you have in the bank must include a paper trail to prove its origin. No paper trail can get you disqualified by a mortgage officer.

7.  Having more debt than income is one of the main reasons many mortgages are denied. Debt to income (DTI) is defined as a mathematical equation. A bank will calculate the potential cost of your mortgage payments and other monthly bills. Then they will divide this figure by the amount of income you make in one month. If your DTI is higher than 45% you will most likely be refused by the lender.

8.  If you get a W-2 each year and are responsible for the payment of your expenses (related to business) then be prepared to have some difficulty in obtaining a home loan. Those expenses are calculated as part of your monthly debt.

9.  Some prospective real estate clients are not prepared with enough cash. You need to have enough money on hand to take care of the down payment. You also need enough money for the closing costs (3-5% of the home price).

10. Being inflexible and unwilling to compromise creates numerous problems when searching for a home loan. If you want to invest in the Tulsa real estate market you should be prepared to negotiate along the way.

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