Tulsa Properties Among the Nation with Fewest Negative-Equity Homes

If Tulsa properties are on your list of places to consider for a permanent residence, you will be pleased to know this is an area that has not been affected as strongly by the problems the rest of the country is having with the housing market. There are a few homeowners with negative equity in their homes, but percentage wise, Tulsa properties are way below the average.

CoreLogic, a business data company conducted surveys and according to their results, Tulsa properties show only 5.9% of homeowners has negative equity. Of 402,187 that are on record, only 23,724 are in the negative. The state of Oklahoma average is far below the national average, which is 23.7%.

This makes Tulsa properties an excellent buy if you are in the market for a home. Add to this the fact the area is a beautiful place to live with access to anything you may want and you have a winning combination for your new home.

Credited as the reason for this low rate is that during the last ten years when the rest of the nation was experiencing skyrocketing prices for properties, Tulsa properties maintained their 3% increase that had been in effect since 1981. The president of ERA John Hausam Realtors in Tulsa, John Hausam says the prices in other areas that went extremely high and then plummeted was not experienced by Tulsa.

The Greater Tulsa Association of Realtors says the average price for Tulsa properties at the present is $126, 000 as of March which is only a 5% increase from the previous year. In contrast, Nevada experienced the highest rate of negative equity at 69.9%.

According to the chief economist at CoreLogic, there are two important factors that trigger default - unemployment and negative equity - and these have become more stable in the past six months. So, not only will you benefit from purchasing Tulsa properties, but with the rate of unemployment stabilizing this is an area that is a great place to live and work.

If Tulsa is the area of the country you are considering for your new home, this is good news. A good job market and a terrific place to find an affordable home can make this one of the best choices around. Buying a home in which you can maintain or increase your equity is one of the most important aspects of home ownership.

No one wants to have an upside down mortgage and make payments on a home that is not worth the price they are paying. When choosing the Tulsa area as your next home, you will be in a better position than most of the country, so check out the beautiful homes that are available here. You will be glad you did.

Below is the market statistics for September 2008.  I have also included the numbers for August 2008 as well for comparison.   You can view prior month's market trend reports by visiting my previus blog pages.

With school back in full swing, the number of homes sold decreased again during the month of August, which is indicative for this time of year.  The number of days it takes on average for a Tulsa single family property to sell is still very low, when comparing it to other similarly sized cities throughout America.  But remember, this isn't just ANY city!  Tulsa, Oklahoma was named the 5th best place to live in the United States!  See more information about this great achievement on my previous blog too! 

TULSA REAL ESTATE
MARKET STATISTICS ~ SEPTEMBER 2008
# Existing Single Family Homes         Sold	Average List Price	Average Sold Price	Average Days on Market	List $ to Sold $ Ratio
1126	$215,458	$156,264	55	72.53%
MARKET STATISTICS ~ AUGUST 2008
# Existing Single Family Homes         Sold	Average List Price	Average Sold Price	Average Days on Market	List $ to Sold $ Ratio
1191	$198,170	$162,962	57	82.23%

I would be more than happy to discuss your real estate needs as you consider your next move to or within the Tulsa homes area.  Please also visit my website to view all Tulsa and area homes that are currently available for sale.  If you find a home (or homes) that you would like to personally view, please contact me via email or phone.

Conveniently located in the heart of South Tulsa, Sheridan Oaks Estates is one of the most exclusive, gated entry communities this area has to offer.  Consisting of 40 acres of rolling terrain, mature trees and exceptional views, each of these executive homes is situated on between one half to one full acre of land, providing privacy, security and serenity.

 

If you are looking for an outstanding area to raise your children, then look no further.  This community is also within the Union School District, which is the second largest in the State and also known as one of the best. 

 

Currently there is only one executive home for sale within this Tulsa, Oklahoma community.  This home consists of four bedrooms, four full plus three and a half bathrooms, three car garage and over 5,800 ft.² of living area.  It is currently listed at $959,900.  This is indicative of the type of price you'll pay of a home of this stature.  In June of this year a home sold within Sheridan Oaks Estates for $3,190,000.  A Stephen Turner custom-designed home, featuring four bedrooms, four full and 4 1/2 bathrooms, a five car side entry garage, over 11,730 ft.² of living area (consisting of four living areas and five fireplaces to name a few highlights) plus an in-ground pool on just over one acre made this home complete. 

 

This truly is an exceptional community, and one that I would highly recommend to a family looking for only the best.  If you are interested in learning more about this community or any other community within the Tulsa, Oklahoma real estate area, please do not hesitate to contact me at any time.

Each year, the nation incurs more than $800 billion of expenses from death's, injuries and property damage resulting from consumer product incidents.  The US Consumer Product Safety Commission (CPSC) is responsible for protecting the public from unreasonable risks of serious injury or death for more than 15,000 types of consumer products.  Over the past 30 years, the CPSC's ongoing efforts to ensure the safety of consumer products (including toys, cribs, power tools, cigarette lighters, and household chemicals) has contributed significantly to the decline in the rate of such deaths and injuries.

Tulsa, Oklahoma is not excluded from one element within homes which cause more than 200 deaths each year in the United States.  Carbon monoxide is a colorless, odorless gas produced by the burning of any fuel, including within furnaces, stoves, fireplaces, clothes dryers, water heaters, and space heaters.   These appliances burn fuels, such as gas, oil, wood, kerosene and coal, and under certain conditions such appliances can produce deadly carbon monoxide which results in poisoning. 

Homeowners exposed to carbon monoxide can result in having symptoms including those similar to the flu, such as headache, fatigue, shortness of breath, nausea and dizziness.  Extreme exposure can result in death.  That's why it is extremely important that every home, not only in Tulsa, Oklahoma, but throughout the US be equipped with a carbon monoxide alarm.  Not only should an alarm be installed, but a yearly professional inspection should be carried out.  The inspection should include a thorough check of chimneys, flues and vents for leakage and blockage of creosote and debris, plus all vents to furnaces, water heaters, and other fuel-burning appliances should be checked to make sure they're not loose or disconnected.

In discussing issues such as this, it is my hope that a difference can be made in one homeowner's life.  So pick up the phone today and contact an inspector to check your home and the subsequent safety of your family.

Each year during the months June, July and August, Tulsa, Oklahoma comes alive at sea, Tulsa Performing Arts Center's Williams, Doenges, and Norman Theaters.  SummerStage, a performing arts festival, gives an opportunity for local arts groups and individual artists to work together and form a showcase of artists from Tulsa and the surrounding communities.

Performances include a variety of musical's, drama, comedy, and dance, providing something for everyone.  Below is a selection of the shows that will be available:

The Pirates of Penzance.
by Light Opera Oklahoma.
June 13, 14, 26, July 5 at 8 p.m. - June 22 at 2:30 p.m. - July 12 at 2 p.m.

Footloose: The Musical.
By Grace Ann Productions, Inc..
August 1, 2, 7, 8, 9 at 8 p.m. - August 2, 3, 9 at 2 p.m.

Laughing Matter Improv.
By Heller Theatre & Clark Theatre
June 13 at 8 p.m.

Jeff Shadley's Tribute to Frank Sinatra.
By Shadley's Arts & Sciences, Inc..
July 5 at 8:30 p.m.

So, if you live in the Tulsa, Oklahoma area, or will be visiting during the summer months, and want to go out on the town and see some exciting shows, the summer is the time to do it!  For more information, please visit SummerStage 2008 website.   Maybe I'll see you there!

Over the past few months and years, short sale homes have become a reality for homeowners.  not only in areas of Tulsa, Oklahoma, but in most States nationwide. 

So what is a short sale, exactly?  An online article published by Realtor.org, describes a short sale, as "when the net proceeds from the sale of a home are not enough to cover the sellers mortgage obligations and closing costs, such as property taxes, transfer taxes, and the real estate practitioners commission".  Here, the seller is unwilling (or unable) to cover the difference, and so find themselves owing more than the house is currently worth when closing costs are factored into the equation.

Here are five tips regarding Tulsa, Oklahoma real estate when a short sale is inevitable:

1.  Give any and all mortgage holders an open door to speak to your Tulsa, Oklahoma realtor about your loan(s).  With privacy laws in effect, it will be mandatory that you send a letter to your mortgage company(ies) letting them know that your realtor is working with you and them.  Once this relationship between your realtor and mortgage company(ies) are in place, the short sale process will often become easier.

2.  If you are still making loan payments and have a credit rating that is worth preserving, then a short sale may be the ideal option for you.

3.  Under duress, homeowners often make rash decisions, and conversely, unethical investors may attempt to get a home owner to sign a quit claim deed for the property, and then lease it out.  Even though the homeowner no longer owns the house, they will still be liable for the mortgage payments, which will, therefore, get them no further than they are already.

4.  If the homeowner finds themselves having a portion of their loan forgiven, this may have an adverse affect on their credit.  It would be wise, therefore, to sign a lease on a new Tulsa, Oklahoma home or apartment before their credit is further damaged.

5.  To avoid any unnecessary costs, Tulsa, Oklahoma buyers should wait to have a home inspection, and an appraisal for the morgage company, until after the bank has accepted the short sale of the home at hand.  If the loan is less than a year old, a short sale might be rejected.

If you are in a position that you feel you may need to entertain the idea of selling your home as a short sale, please contact me and I will be more than happy to discuss your needs with  you.

The results are in!  Tulsa Oklahoma real estate makes an excellent investment according to the 2007 figures provided by Relocate-America.com.  Tulsa not only made its name known in the top 100, but all the way to the 5th highest ranking! 

This is Relocate-America.com's 11th Annual Top 100 Cities list.  Relocate-America.com is a community information and real estate resource site for individuals and families who are relocating.  Each year, the site ranks the top 100 places to live in the country.  Areas need to be nominated on the site in order to be eligible for the list, and more than 2,000 were nominated this year, including a vast number aiding in Tulsa, Oklahoma being ranked so high!

A city's growth, educational and employment opportunities, crime rates and housing options are also taken into account before gaining a position in the top 100.  Cities being noted for their environmental standings also play a role, including points for good air and water quality and/or the magnitude of its efforts in recycling.

Home price appreciation also gets considered when ranking cities throughout North America, however it doesn't make or break it - cities with more desirable climates, such as California and Florida also are taken into consideration, which explains why these two cities are also noted in the Top 100. 

If you would like to learn why Tulsa, Oklahoma is such a great place to live, please contact me today - I love to talk about the city that I am proud to call "Home".  You can also visit my website to view all Tulsa Oklahoma real estate currently available for sale.