Thursday, December 30, 2010

Open House Sunday January 2, 2011 | 3009 Hackberry Oklahoma City OK

Quail Creek Open House

3009hackberry-5

You are cordially invited to the OKCHomeSellers Team open house Sunday, January 2nd, 2011 at 3009 Hackberry Oklahoma City OK in the Quail Creek addition.

Time: 2:00 — 5:00

Location

Photos of 3009 Hackberry Oklahoma City OK

 

Lovely Quail Creek home. Large and on one level. Three large living areas. 2 fireplaces. Completely remodeled kitchen. Large game room, TV & theater chairs stay! Parquet wood flooring. Large master suite. Lap pool in back yard. .4 acre wooded lot.

Hosted by Bob Clark.

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/open-house-sunday-january-2-2011-3009-hackber

Open House Sunday January 2, 2011 | Muirfield Village Edmond OK

Muirfield-Village-Open-House

Muirfield Village Open House Sunday January 2, 2011.

You are cordially invited to the OKCHomeSellers Team weekend open house in Muirfield Village Edmond OK this Sunday.

Time: 1:00 – 5:00

Three homes are open in Muirfield Village Saturday’s & Sunday’s from 1:00 to 5:00 along with a furnished model home. Muirfield Village is at NW 162nd and May Avenue, just behind the Paradigm AdvantEdge offices. Addresses are  16256, 16260, and 16316 Morningside Drive.

Location


View Muirfield Village Open House in a larger map

Muirfield Village Photos

 

Hosted this weekend by Bill Wilson.

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/open-house-sunday-january-2-2011-muirfield-vi

Wednesday, December 29, 2010

Oklahoma City Condo/Townhouse December 2010 Real Estate Market Update

Oklahoma City condo december 2010 market report

Oklahoma City Condo-Townhouse November 2010 Real Estate Market Update

  Current Monthly Change
Active Listings 179 +4
Under Contract 36 -1
Sold (November) 19 +6

 

  • High list price: $635,000
  • Low list price: $26,900
  • Average list price: $130,670
  • Median list price: $92,500
      • High sales price/ft: $123.46
      • Low sales price/ft: $19.35
      • Average price/ft: $60.03
      • Median price/ft: $60.33
      • Average days-on-market: 131
      • Median days-on-market: 133

      Oklahoma City Condos For Sale

      Oklahoma Condos For Sale – Recent Price Reductions

      Oklahoma City Condos For Sale – New Listings

    • Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/oklahoma-city-condotownhouse-december-2010-re

      Housing And Mortgage Predictions For 2011

      Wilson and may not be copied, reproduced, or sold in any form
      whatsoever.-->


      src="http://bringtheblog.com/i/crystal-ball-2011.jpg"
      alt="Predicting mortgage and housing" width="220" height="246"
      />With 2010 coming to a close, the "experts" are out in full
      force, making predictions for next year's housing and mortgage
      markets on business television and in the papers.


      Predictions for 2011 are wide-ranging:


      The problem with housing and mortgage
      predictions is that -- like all predictions -- they're just
      educated guesses about the future. Nobody knows what will
      really happen with the housing and mortgage
      markets in 2011. All anyone can do is theorize. As laypersons,
      though, it can be hard to separate theory from fact.


      Television can make that task even more difficult at
      times.

      As an example, when a well-dressed
      economist goes on CNBC and presents a clear, succinct argument for
      why home prices will fall on 2011, we're inclined to believe the
      analysis and conclusion. After all, the outcome seems plausible
      outcome given the facts. But then, immediately after, a different
      economist presents an opposite argument -- that home
      prices will rise in 2011 -- and her
      analysis seems sound, too.

      Even Freddie Mac
      can't see the future.

      Last year, the government
      group predicted
      href="http://www.washingtonpost.com/wp-dyn/content/article/2009/12/25/AR2009122501652.html"
      target="_blank">mortgage rates to 6 percent in 2010.
      That never happened, of course. Instead, conforming mortgage rates
      dropped over a 7-month period this year to levels best be described
      as "historic". Freddie Mac couldn't have been more
      wrong.

      So, what's a Edmond homeowner to
      believe?

      About the only thing that's certain
      right now is that mortgage rates remain low by historical
      standards, and that home prices do, too. Also, that both housing
      and mortgage markets appear to be riding momentum higher into 2011.
      This suggests that it will be more expensive to buy and
      finance a home by the end of 2011.

      Until that
      time, however, predictions are just guesses.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/housing-and-mortgage-predictions-for-2011

      Tuesday, December 28, 2010

      New Home Sales Rise In November; Hint At Strong Winter 2011

      New Home Sales (Nov 2009 - Nov 2010)Like most housing data in November, the most recent New Home Sales report showed sales volume increasing last month, and home supplies falling.

      According to the U.S. Department of Commerce, sales of new, single-family homes increased to 290,000 in November on an annual basis, a figure equal to the New Home Sales 6-month rolling average, and a 6 percent improvement from October.

      At the current pace of sales, the national supply of new homes for sale will be exhausted in 8.2 months -- a strong 0.6-month improvement from October.

      This data is consistent with the most recent Existing Home Sales report. It showed sales volume rising 6 percent, too, and a similarly-strong inventory drop.

      For the housing market in Edmond , it's another step in the right direction. Since May's post-tax credit plunge, home prices have stabilized and a foundation for growth has been built. Home builder confidence data highlights this point.

      Also interesting in the November New Home Sales report is the volume breakdown by price point. Less expensive homes powered the market:


      • Homes under $200,000 : 47 percent of all sales

      • Homes between $200,000-$299,999 : 29 percent of all sales

      • Homes between $300,000-$399,999 : 14 percent of all sales


      Luxury homes accounted for less than 2 percent of sales last month suggesting that builders count first-time and move-up buyers as their core market.

      As 2010 comes to a close, housing looks poised for a rebound. Sales in all categories are improving, relative to 6 months ago, and the economy is improving. In conjunction with rising mortgage rates, the best time to buy a new home may be now.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/new-home-sales-rise-in-november-hint-at-stron

      Monday, December 27, 2010

      Would Your Kitchen Pass A Health Inspection?

      Americans spend a lot of time cooking and eating in their kitchens. What are you doing to keep yours germ- and bacteria-free?

      In this two-part, 6-minute video from NBC's The Today Show, you'll first ride alongside a county health inspector as he visits a home and inspects its kitchen. The tested areas include the refrigerator, the cutting boards, the sponges, the utensils, the ovens, and more. Ultimately, the home "passes", but not before the inspector points out some problems from which we all can learn.

      Then, in the video's second part, you'll learn how to keep your own kitchen clean and healthy.


      • How much bleach to dilute to clean sinks, and how often to clean them

      • Why "time-to-evaporate" is an important metric when shopping for disinfectants

      • Comparing wood vs. glass vs. plastic cutting boards, and how to sanitize them, respectively


      Keeping a germ-free kitchen requires constant attention and a routine cleaning schedule. Thankfully, it's a simple process. Follow the basic steps as outlined by The Today Show, and your home would pass inspection.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/would-your-kitchen-pass-a-health-inspection

      Sunday, December 26, 2010

      Oklahoma City Historical Area December 2010 Real Estate Market Update

      Historical Area December 2010 market update

      Oklahoma City Historical Area October 2010 Real Estate Market Update


      The historical areas included in this report include: Crown Heights, Edgemere, Gatewood, Heritage Hills, Mesta Park, Crestwood and Linwood.




















      Current Monthly Change
      Active Listings 73 -14
      Under Contract 29 +6
      Sold (November) 8 -1


      • High list price: $1,750,000

      • Low list price: $49,999

      • Average list price: $243,275

      • Median list price: $149,500



      • High sales price/ft: $138.65

      • Low sales price/ft: $18.52

      • Average price/ft: $74.97

      • Median price/ft: $77.81



      • Average days-on-market: 67

      • Median days-on-market: 43


      Historical Area Homes For Sale


      Historical Area Recent Price Reductions


      Historical Area New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/oklahoma-city-historical-area-december-2010-r

      Friday, December 24, 2010

      Home Inventory Dwindles Into The New Year

      Existing Home Supply (Nov 2009 - Nov 2010)Existing Home Sales jumped another 6 percent in November, the report's third month of improvement since bottoming in July.

      According to the National Association of REALTORS®, a quarter-million more existing homes were sold during the annual period ending in November as compared to October.  An "existing home" is a home that cannot be considered new construction.

      Additionally, the national housing supply dropped by a full month. At the current pace of existing home sales, the complete stock of homes for sale will be exhausted in 9.5 months.

      November's strong housing data is yet another signal to buyers in Edmond that the housing market's foundation has been rebuilt, and that a rebound is imminent.  It's helped that there are great "deals" on which for buyers to pounce.

      In November, short sales and foreclosures accounted for one-third of all existing homes sold, and carried an average price discount of 10 percent and 15 percent, respectively, as compared to non-distressed sales.

      Repeat buyers continue to power the market, too, representing more than half of all home buyers.


      • First-time buyers : 32% of all buyers

      • Investors : 19% of all buyers

      • Repeat buyers : 51% of all buyers


      This breakdown suggests that housing has regained its footing. First-time buyers can't support a market long-term like repeat buyers can and, as compared to 12 months ago, the percentage of repeat buyers is now up 14 points.

      Home buyers take note. Raw sales volume is rising and available inventory is dropping. Basic supply-and-demand tells us that this will lead home prices higher. Furthermore, mortgage rates are rising quickly, increasing the cost of homeownership.

      If buying a home is a part of your plan for 2011, consider accelerating your purchase time frame. Existing homes account for more than 80% of homes sold nationwide. If the market keeps improving like this, your home affordability will worsen.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/home-inventory-dwindles-into-the-new-year

      Thursday, December 23, 2010

      Wednesday, December 22, 2010

      The Village December 2010 Real Estate Market Update

      The Village December 2010 market update

      The Village December 2010 Real Estate Market Update





















      Current Monthly Change
      Active Listings 49 -14
      Under Contract 17 -5
      Sold (November) 12 +9


      • High list price: $159,900

      • Low list price: $59,900

      • Average list price: $110,233

      • Median list price: $112,750



      • High sales price/ft: $103.30

      • Low sales price/ft: $79.48

      • Average price/ft: $90.62

      • Median price/ft: $90.42



      • Average days-on-market: 50

      • Median days-on-market: 56


      More Information On The Village


      The Village Homes For Sale


      The Village Recent Price Reductions


      The Village New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/the-village-december-2010-real-estate-market

      Housing Starts Rise In November, But With A High Margin Of Error

      Housing Starts Dec 2008-October 2010The number of single-family Housing Starts increased in November, adding 30,000 units as compared to October.

      The Census Bureau defines a "housing start" as a home on which construction has started.

      November's starts represents a 7 percent increase from the month prior. However, if you see the Housing Starts story online or in the papers, you'll notice that the press is calling the market gain at 4 percent.

      So which result is right? The answer is both.

      The government's monthly Housing Starts data is published as a composite report; lumping activity among 3 separate housing types into a single, group reading.

      The 3 housing types are:


      1. Single-family homes (i.e. 1-unit)

      2. Multi-unit homes (i.e. 2-4 units)

      3. Apartments (5 units or more)


      The group reading is a fair description of the market and it's easy-to-understand. As a result, it's what the press tends to report. However, for home buyers in Oklahoma , it's the single-family category that's most relevant.

      The reason why single-family homes accounted for 84% of November's Housing Starts is because that's the type of home that most buyers buy. Few purchase 2-4 unit properties, and even fewer buy entire apartment complexes.

      That said, it's possible that November's Housing Starts data is wrong. Within the press release, the government placed an asterisk next to the data, indicating that the figure's margin of error exceeds its actual measurement.

      Against a 7 percent gain, the reported margin of error is 13.5%. There is no statistical evidence, therefore, to prove the actual change was different from zero.

      If Housing Starts did fall in November, it will help to reduce the Edmond housing inventory, which will, in turn, help keep home prices high. For home sellers, this could mean good news. Fewer homes for sale increase competition among buyers.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/housing-starts-rise-in-november-but-with-a-hi

      Tuesday, December 21, 2010

      Foreclosure Activity Plunges (But With An Asterisk)

      Foreclosures per household, November 2010

      According to foreclosure-tracking firm RealtyTrac, the foreclosure filings fell 21 percent in November to 262,339 units nationwide. A foreclosure filing is defined as default notice, scheduled auction, or bank repossession.

      November marked the first time since February 2009 that the number of monthly filings failed to surpass 300,000 units.

      There were other notable November statistics, too, included:


      • November's 21 percent month-to-month decrease was the largest in RealtyTrac's recorded history

      • November's 14 percent year-to-year decrease was the largest in RealtyTrac's recorded history

      • Nevada led the nation in foreclosure activity for the 47th straight month


      However, we can't read into November's RealtyTrac report too much; ultimately, history may treat it with an asterisk. Controversy surrounding the so-called robo-signers forced some of the biggest banks to institute a temporary halt to foreclosures in November. Foreclosure activity did fall last month, but the moratorium makes the figures look better for housing than if there had been no interference.

      The halt in foreclosures is also why Utah leaped into the #2 state for foreclosures nationwide. Perennial foreclosure-leading states like California, Michigan and Arizona posted double-digit improvements in November whereas Utah did not.

      Banks have since resumed foreclosure activity so December's results may be a better gauge for how the market is truly performing.

      Foreclosures tend to be sold at discount and low home prices can entice home buyers to make an offer. If you're such a buyer in Edmond and want to look at foreclosed homes, talk to a real estate agent first.

      Although there's a host of online search engines that specialize in foreclosures, a licensed agent may have access to broader inventory, plus the ability to negotiate it more effectively.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/foreclosure-activity-plunges-but-with-an-aste

      Monday, December 20, 2010

      Oklahoma City Foreclosure Homes On a Map

      The information available on Google is truly amazing! Through just a little manipulation, one can show foreclosure homes on a Google Map. This tip comes from phoenixrealestateguy via Jonathan Miller and ChartPorn.

      Here is what it looks like for the Oklahoma City Metro…

      Foreclosures - Oklahoma City Click to see the map

      As PhoenixRealEstateGuy points out, the dots shown are only foreclosure homes that are on the market at this time. This does not include foreclosed homes held off the market, pre-foreclosures, short sales and homes facing imminent foreclosure. Also, unfortunately, we don’t get to see the effect over time which would show trends. If these homes were added to the map, I’m sure it would look scary!

      Nationally, Oklahoma is better off than many places. Below is the US map from Google…

      Foreclosures - US

      If you’re one of the brave souls wanting to buy one of these, sign up for a list of these homes, automatically updated as changes occur.

      [gravityform id=7 name=Foreclosure-ShortSale List description=false]

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/oklahoma-city-foreclosure-homes-on-a-map

      How To Erase Furniture Scratches With A Walnut

      Over time, wooden furniture shows signs of age. Wear-and-tear from everyday use can lead to dings and scratches that are both distressing, and unsightly. But before you bring your piece to a specialist for repair, you can try the much-less-expensive, do-it-yourself route.

      In this 50-second video from HowCast, you'll learn how to use a walnut and a soft cloth to "erase" scratches from furniture:


      1. Remove the nut from its shell

      2. Rub the nut on the scratch

      3. Wait 3 minutes

      4. Buff the area with a soft cloth


      The repair works by allowing the nut's natural oils to soak into the wood, which reduces the "white" appearance of a scratch. Other nutes work, too, including almonds and pecans. Or, you can opt for a professional product like what's offered at Amazon.com.

      Anything deeper than a surface scratch, however, and you'll want a specialist involved.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/how-to-erase-furniture-scratches-with-a-walnu

      Saturday, December 18, 2010

      Friday, December 17, 2010

      Quail Creek (Oklahoma City OK) December 2010 Real Estate Market Update

      Quail Creek December 2010 market report

      Quail Creek October 2010 Real Estate Market Update





















      Current Monthly Change
      Active Listings 47 -7
      Under Contract 8 +3
      Sold (November) 6 -1


      • High list price: $649,000

      • Low list price: $85,000

      • Average list price: $291,490

      • Median list price: $258,300



      • High sales price/ft: $88.37

      • Low sales price/ft: $44.86

      • Average price/ft: $70.00

      • Median price/ft: $76.51



      • Average days-on-market: 65

      • Median days-on-market: 68


      Quail Creek Information


      Quail Creek Homes For Sale


      Quail Creek Recent Price Reductions


      Quail Creek New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/quail-creek-oklahoma-city-ok-december-2010-re

      Why Builder Confidence Surveys Matter To Buyers Of New Homes

      National Association of Home Builders Housing Market Index (Nov 2009-Dec 2010)Home builder confidence is holding firm this month, according to the National Association of Home Builders.

      The group's monthly Housing Market Index survey posted 16 for December. That's the same value as from November. It's also equal to this 2010's average HMI reading.

      HMI is scored on a scale of 1-100, and is a composite of 3 separate home builder surveys measuring single-family sales; projected single-family sales over the next six months; and prospective buyer foot traffic.

      The results of the 3 surveys were as follows:


      • Single-Family Sales : 16 (unchanged from November)

      • Projected Single-Family Sales : 25 (unchanged from November)

      • Prospective Buyer Foot Traffic : 11 (from 12 in November)


      Values of 50 or better indicate favorable conditions for home builders. Values below 50 indicate unfavorable conditions.

      In other words, although improving, conditions for home builders remain less from excellent. Home buyers in Edmond can use this to their advantage. When builders feel pressure from the market, they're more likely to offer discounts.

      On the other hand, job growth is returning, the economy is expanding, and mortgage rates are rising. These 3 factors are thought to boost housing markets. So, despite an unfavorable HMI reading, home builders might still be less willing to "make a deal"; holding out for a better 2011.

      November's strong Housing Starts data supports that line of thinking.

      If you're buying a newly-built home in the Muirfield Village area , or expect to buy sometime in 2011, keep an eye on home builder sentiment surveys. The better the builders feel, the more you may be asked to pay to buy your next home.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/why-builder-confidence-surveys-matter-to-buye

      Thursday, December 16, 2010

      Free List of Foreclosures & Short Sales in Oklahoma City

      Oklahoma City Foreclosure & Short Sale List


      Would you like to be on our mailing list to be notified of new Short Sales and Foreclosures in the Oklahoma City area?

      Fill out the form below and we will send them to you daily.

      [gravityform id=7 name=Foreclosure-ShortSale List title=false description=false]

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/free-list-of-foreclosures-short-sales-in-okla

      Wednesday, December 15, 2010

      Oak Tree (Edmond OK) November 2010 Real Estate Market Update

      Oak Tree November 2010 market update

      Oak Tree October 2010 Real Estate Market Update

        Current Monthly Change
      Active Listings 25 -9
      Under Contract 2 -1
      Sold (October) 5 +3

       

      • High list price: $1,199,000
      • Low list price: $225,000
      • Average list price: $517,947
      • Median list price: $494,450
      • High sales price/ft: $145.55
      • Low sales price/ft: $103.63
      • Average price/ft: $123.04
      • Median price/ft: $121.48
      • Average days-on-market: 121
      • Median days-on-market: 38

      Oak Tree Homes For Sale

      Oak Tree Recent Price Reductions

      Oak Tree New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/oak-tree-edmond-ok-november-2010-real-estate

      Tuesday, December 14, 2010

      A Soldiers Christmas Poem

      I saw this today and thought we all need a reminder to remember our troops during this holiday season…

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/a-soldiers-christmas-poem

      A Simple Explanation Of The Federal Reserve Statement (December 14, 2010 Edition)

      Putting the FOMC statement in plain EnglishToday, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged within in its target range of 0.000-0.250 percent.

      In its press release, the FOMC noted that since November's meeting, the "economic recovery is continuing", but at a pace deemed too slow to make a material impact on unemployment rates. It also said that household spending in increasing, but remains constrained by joblessness, tight credit and lower housing wealth.

      In addition, the Fed used its press release to re-affirm its plan to keep the Fed Funds Rate near zero percent "for an extended period" while also opting to keep its $600 billion bond market support package in place.

      And lastly, of particular interest to home buyers and mortgage rate shoppers, the FOMC statement devoted an entire paragraph to the Federal Reserve's dual mandate of keeping inflation and employment at acceptable levels.

      The Fed acknowledges making progress toward this goal, but calls it "disappointingly slow". Currently, inflation is too low for what the Fed deems acceptable, and unemployment is too high.

      Over time, the Fed expects both measurements to improve.

      Mortgage market reaction to the FOMC statement has been negative thus far. Mortgage rates in Edmond are unchanged post-FOMC, but appear poised to worsen.

      The FOMC's next scheduled meeting is a 2-day affair, January 25-26, 2011. It's the first scheduled meeting of 2011.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/a-simple-explanation-of-the-federal-reserve-s-4

      Valencia (Edmond OK) November 2010 Real Estate Market Update

      Valencia November 2010 market update

      Valencia October 2010 Real Estate Market Update

        Current Monthly Change
      Active Listings 38 0
      Under Contract 9 -4
      Sold (Sept) 6 -2

       

      • High list price: $334,575
      • Low list price: $126,025
      • Average list price: $189,877
      • Median list price: $181,178
      • High sales price/ft: $107.69
      • Low sales price/ft: $86.18
      • Average price/ft: $97.22
      • Median price/ft: $95.62
      • Average days-on-market: 52
      • Median days-on-market: 56

      Valencia Homes For Sale

      Valencia Recent Price Reductions

      Valencia New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/valencia-edmond-ok-november-2010-real-estate

      Make A Mortgage Rate Strategy Ahead Of Today's Fed Meeting

      Fed Funds Rate Dec 2007-Dec 2010The Federal Open Market Committee holds a one-day meeting today, its 8th scheduled meeting of the year and 10th overall.

      The FOMC is part of the Federal Reserve, the government group that sets U.S. monetary policy. The Fed's primary policy-setting tool is an interest rate known as the Fed Funds Rate. The Fed Funds Rate is the interest rate at which banks borrow money from each other.

      2 years ago Thursday, in an effort to jump-start the economy, the FOMC met and voted to lower the Fed Funds Rate to as close to zero percent as possible without actually going to zero percent; the benchmark rate was prescribed to a range of 0.000-0.250 percent.

      The Fed Funds Rate had never been set so low before, but ever since, it's been held to that range. It will likely be there until early-2011, too, but that doesn't mean that mortgage rates won't change today when the Fed adjourns today.

      Because the Fed Funds Rate has been so low for so long, businesses and consumers have been able to borrow money cheaply. As a result, both capital and household spending have been on the rise lately, creating tailwinds for the economy.

      The Fed is expected to acknowledge this today which, in turn, should lead mortgage rates higher. This is because, in the current recovery cycle and until markets find balance, what's good for the economy tends to be bad for rates in Oklahoma City.

      The Fed's press release today will be a focal point for markets. Talk of higher-than-expected inflation or better-than-expected growth, and mortgage rates should rise. Talk of a slowdown should lead rates lower.

      Either way, we can't be certain what the Fed will say -- or do -- this afternoon. If you're floating a mortgage rate, the safe move is to lock before 2:15 PM ET today.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/make-a-mortgage-rate-strategy-ahead-of-todays

      Monday, December 13, 2010

      Rose Creek (Edmond OK) November 2010 Real Estate Market Update

      Rose Creek November market update

      Rose Creek October 2010 Real Estate Market Update





















      Current Monthly Change
      Active Listings 16 -6
      Under Contract 4 +2
      Sold (Sept) 1 -4


      • High list price: $1,259,000

      • Low list price: $370,000

      • Average list price: $660,135

      • Median list price: $649,000



      • High sales price/ft: $144.97

      • Low sales price/ft: $129.99

      • Average price/ft: $137.48

      • Median price/ft: $137.48



      • Average days-on-market: 223

      • Median days-on-market: 223


      Rose Creek Homes For Sale


      Recent Price Reductions In Rose Creek


      New Listings In Rose Creek

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/rose-creek-edmond-ok-november-2010-real-estat

      Sunday, December 12, 2010

      Muirfield Village Home For Lease | 16260 Morningside Dr. Edmond OK

      New Executive Home For Lease in Muirfield Village

      20090610_Commons_001

      The beautiful Muirfield Village home with front courtyard and fireplace is now available for lease!

      • $3,000 per month. 12 month minimum lease
      • 16260 Morningside Drive
      • 3,073 square feet
      • 2 bedrooms
      • 2½ bathrooms
      • Study
      • Large open living area

      Photos of 16260 Morningside Drive

       

      For more information call Bill Wilson @ 405.633.3388.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/muirfield-village-home-for-lease-16260-mornin

      Muirfield Village Home for Lease | 16316 Morningside Dr. Edmond OK

      New Executive Home For Lease in Muirfield Village

      4920177454_c3fa925cf8_o

      This beautiful, former Parade of Homes standout in Muirfield Village is now available for lease!

      • $3,500 per month. 12 month minimum lease
      • 16316 Morningside Dr.
      • 3,662 square feet
      • 2 bedrooms
      • 2 full baths plus 2 half baths
      • Study
      • Two living areas
      • Media room upstairs
      • Two indoor & one outdoor fireplaces
      • Large walk-in pantry
      • Wet bar
      • Viking appliances

      Photos of 16316 Morningside Drive

       

      For more information, call Bill Wilson @ 405.663.3388 or contact us.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/muirfield-village-home-for-lease-16316-mornin

      Nichols Hills November 2010 Real Estate Market Update

      Nichols Hills November 2010 market update

      Nichols Hills October 2010 Real Estate Market Update

        Current Monthly Change
      Active Listings 59 -3
      Under Contract 8 +1
      Sold (Sept) 2 -2

       

      • High list price: $2,900,000
      • Low list price: $149,900
      • Average list price: $859,367
      • Median list price: $599,700
      • High sales price/ft: $223.71
      • Low sales price/ft: $110.06
      • Average price/ft: $162.91
      • Median price/ft: $168.63
      • Average days-on-market: 178
      • Median days-on-market: 100

      Nichols Hills Homes For Sale

      Nichols Hills Recent Price Reductions

      Nichols Hills New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/nichols-hills-november-2010-real-estate-marke

      Friday, December 10, 2010

      Coffee Creek (Edmond OK) November 2010 Real Estate Market Update

      coffee creek november 2010 market update

      Coffee Creek October 2010 Real Estate Market Update

        Current Monthly Change
      Active Listings 29 0
      Under Contract 1 -1
      Sold (October) 2 -1

       

      • High list price: $450,000
      • Low list price: $174,900
      • Average list price: $265,920
      • Median list price: $235,399
      • High sales price/ft: $107.67
      • Low sales price/ft: $87.33
      • Average price/ft: $97.50
      • Median price/ft: $97.50
      • Average days-on-market: 16
      • Median days-on-market: 16

      Coffee Creek Homes For Sale

      Coffee Creek Recent Price Reductions

      Coffee Creek New Listings

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/coffee-creek-edmond-ok-november-2010-real-est

      Open House Saturday and Sunday December 11/12 2010 | 3009 Hackberry Oklahoma City OK

      Quail Creek Open House


      3009hackberry-5

      You are cordially invited to the OKCHomeSellers Team open house Sunday, December 11th and Saturday December 12th, 2010 at 3009 Hackberry Oklahoma City OK in the Quail Creek addition.

      Time: 2:00 — 5:00

      Location


      View Posterize

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/open-house-saturday-and-sunday-december-1112

      Friday, December 3, 2010

      Priced Lower Than a Snake's Belly in a Wagon Rut

      070928-F-0986R-005photo © 2007 Kevin | more info (via: Wylio)

      You’ve just gotta love the Marines! There’s never a doubt about where they stand and what they’re thinking. This story goes back to about 1978 when I was flying with the USAF’s 425th flying club Tac Fighter Training Squadron out of Phoenix. Bear with me and I’ll eventually get this related back to real estate.

      A short background. During the Vietnam War, fighter training units virtually eliminated air-to-air combat training because it was ‘dangerous’ and a commander might suffer a training loss. Kill ratios in combat, as a result, approached 1:1. During the ‘70’s a concerted effort was made to change that. Navy Topgun, Air Force Aggressor Squadrons, Red Flag and lots of air-to-air training came to be. A semi-unofficial method was for a bunch of guys to go cross-country over a weekend and stage mini-airwars.

      Back to the Marines. This particular weekend  a number of folks went to Yuma Marine Corps Air Station for an evening at the bar and a Saturday morning air battle. Ours was a pair of F-5E’s and there were Marine F-4’s and Harriers, some Air Force F-15’s and F-4’s, some Navy F-14’s, and I’m not sure what else. About 30 aircraft in all. The plan was called 2 v many. Everyone was in pairs fighting everyone else. You had no friends other than your wingman. The fight area was a 10 mile radius around a particular mountain peak. Everyone had to be in the area at a certain time and then it was ‘fight-on’. At the designated time everyone was there in their pair, trying to remain invisible. No one said anything on the radio because everyone could get a ‘df-steer’ to them. That lasted for about 30 seconds when here comes the Marines! “Jarhead 21, 2 F-4’s over Chocolate Drop at 15,000 feet. Where’s all you candy-asses who want  to come out and fight?” This brings me back to real estate…

      Where’s all you Candy Ass Buyers waiting for the bottom of the market?

      3009hackberry-8We’ve just reduced the price on 3009 Hackberry Oklahoma City in Quail Creek. This home came on the market this summer at $445,000 which was a fair price. This is the 4th price reduction and we’re now at the incredible price of $350,000! Guys, this is a great deal and it just doesn’t get any better than this.

      What are you waiting for?????

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/priced-lower-than-a-snakes-belly-in-a-wagon-r

      Thursday, December 2, 2010

      Mortgage Rates Rapidly Rising On Jobs Data; More Risk Ahead For Friday

      Non-Farm Payrolls Nov 2008-Oct 2010Mortgage rates are rising, up nearly 1 percent since mid-October. Tomorrow, rates could rise again.

      The Bureau of Labor Statistics releases the November jobs report at 8:30 A.M. ET Friday. With a stronger-than-expected reading, mortgage rates should continue their climb, harming home affordability across Oklahoma and nationwide.

      And already, Wall Street is bracing for big results.  Here's why.

      Wednesday, payroll processor ADP said that 98,000 private-sector jobs were created in November. The figure was a complete blowout reading as compared to analyst estimates, which had the results in the 50,000 range. But that wasn't all. ADP re-measured and re-reported October's gains, too. It found that 84,000 jobs were created -- not the 43,000 on its original report from 30 days ago.

      If jobs growth is the keystone to economic recovery, the ADP report suggests that recovery is already underway.

      It's bad news for rate shoppers. A faltering economy helped keep mortgage rates low. A recovering one should make rates rise. And, that's exactly what happened Wednesday.

      In response to the ADP report, conforming mortgage rates posted their third-worst day of the year. Rates climbed as much as 0.375 percent throughout the day as lenders scrambled to keep up with a deteriorating market.

      At some banks, rates changed 4 times between the market's open and close.

      Tomorrow, analysts expect the government to report 146,000 jobs created in November. Mortgage markets and home affordability have a lot riding on the actual results. A lower-than-expected reading should lead mortgage rates lower. Anything else and mortgage rates should rise. Likely by a lot.

      Therefore, if you're shopping for a mortgage right now, or floating a loan that's in-process, think about your personal risk tolerance and whether you want to gamble against rates moving higher. Once Friday morning's report is released, it may be too late to lock something lower.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/mortgage-rates-rapidly-rising-on-jobs-data-mo

      Wednesday, December 1, 2010

      Foreclosure List

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/foreclosure-list

      September's Case-Shiller Index Reflects A Slowing Housing Market

      Case-Shiller Change In Home Values September 2009-2010

      Standard & Poors released the September Case-Shiller Index Tuesday. The Case-Shiller Index is a home-value tracker. The report shows home prices down 0.7% from August and values fading, in general.

      Case-Shiller representatives assessed the findings as "another weak report; weaker than last month", citing deterioration in 18 of 20 tracked markets. Upward pricing momentum from the summer is slowing and values remain 30% off the market's June 2006 peak. It could spell bad news for home sellers in Edmond this winter.

      That said, the Case-Shiller Index is imperfect; its methodology flawed. The index is not meant for use by individual buyers or sellers -- for 3 reasons.

      First, the Case-Shiller Index reports on a 2-month delay. Today is December 1 and we're discussing data from September. In the 8 weeks since, the economy has shifted to a net jobs gainer, and the Federal Reserve has committed to $600 billion in re-investment.  These are major developments that weren't a part of September's housing market, but are relevant today.

      Especially because employment is largely believed to be a keystone to housing.

      Second, the Case-Shiller sample set is limited to just 20 cities nationwide. This means that most U.S. home sales are specifically not included in the Case-Shiller Index's monthly findings.

      And that ties into reason number three -- all real estate is local. No matter what the Case-Shiller Index says about the country, what matters to your local market is what's happening in your local market. Each neighborhood has its own housing economy and that's something that can't be captured by a national report.

      Originally posted at Oklahoma City Real Estate Blog

      Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/septembers-case-shiller-index-reflects-a-slow