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.