As Homebuilder Confidence Stagnates, Deals Abound

Home builder confidence held firm this month, according to the National Association of Home Builders' monthly Housing Market Index. September's reading of 13 equaled a 17-month low.

The HMI is on a 1-100 scale. A value of 50 or better indicates "favorable conditions" for home builders.

Broken down, the Housing Market Index is actually a weighted composite of 3 separate surveys which measures current single-family sales; projected single-family sales; and foot traffic of prospective buyers.

None of the 3 September surveys improved from August:

• Single-Family Sales : 13 (unchanged from August)


• Projected Single-Family Sales : 18 (unchanged from August)


• Buyer Foot Traffic : 9 (from 10 in August)

Builder confidence is lower in 2010 than at any point in recorded history.

For home buyers in Oklahoma City , the drop in sentiment creates opportunity. With builders feeling "down", there's a greater likelihood for discounts and free upgrades. It can mean more house for your home buying money.

Plus, with the supply of both new and existing homes elevated, and foreclosures still hitting the market, conditions aren't soon likely to change.

Then, couple all that with all-time low mortgage rates and monthly housing payments look as affordable as ever.

If your plans call for buying a home in the early part of 2011, you may want to consider moving up your time frame. Today's market looks ripe for a good deal.

via Posterize

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/as-homebuilder-confidence-stagnates-deals-abo

Case-Shiller Shows Slowing Growth In Home Prices... Two Months Ago

For the 17th straight month, the Case-Shiller Index reports that home values are rising across the United States. As compared to June, July's prices were up by 4 percent.

However, despite the improvement, July's Case-Shiller Index showed weaker as compared to prior months.

• In June, just 3 cities posted year-to-year reductions in home value. In July, 10 of 20 did.


• In June, just 1 city posted a month-to-month reduction in home value. In July, 7 of 20 did.

As a spokesperson for Case-Shiller said, values "crept forward" in July. But not that it matters -- the Case-Shiller Index is a better tool for economists than it is for homeowners in Edmond. This is for 3 reasons.

First, the Case-Shiller Index is on a 60-day delay but real estate sales are based on prices today. A lot can change in 60 days, and it often does. Therefore, the Case-Shiller Index is a better snapshot of the former market than the current one.

Second, the Case-Shiller Index is geographically-limited. It tracks just 20 cities, ignoring some of the largest metropolitan areas in the country including Houston, Philadelphia, and San Jose. Smaller cities like Tampa are included.

And, lastly, national real estate data remains somewhat useless anyway. All real estate is local, rendering citywide statistics too broad to have any real meaning to an individual. To find out what's happening on a neighborhood-by-neighborhood level, you can't look to a national survey -- you have to look to a local real estate agent instead.

via Posterize

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/case-shiller-shows-slowing-growth-in-home-pri

Coffee Creek September 2010 Real Estate Market Report

Coffee Creek September 2010 Real Estate Market Report

• Active Listings: 13
• Under Contract: 1
• Sold August 2010 : 3

This was a surprise. Out of the 10 areas I regularly track statistics, Coffee Creek was second only to The Village in being in Seller’s Market territory. This bucks the trend for similar neighborhoods to Coffee Creek. Congratulations!

Coffee Creek Homes For Sale

Showing properties 1 - 5 of 29. See more Currently Available - Coffee Creek.
(all data current as of 9/28/2010)

1. $197,900 : 3928 Prairie Hill Ct, Edmond
   
   2 beds, 2 full baths

   Size: 1,777 sq ft

   Lot size: 6,117 sq ft
2. $270,000 : 3116 Amberwood Ct, Edmond
   
   3 beds, 2 full baths

   Size: 2,608 sq ft

   Lot size: 10,030 sq ft
3. $165,000 : 340 CROSSLAND COURT, Edmond
   
   3 beds, 2 full baths

   Size: 1,754 sq ft

   Lot size: n/a
4. $235,000 : 517 Cloudview Place, Edmond
   
   4 beds, 2 full baths

   Size: 2,164 sq ft

   Lot size: n/a
5. $242,900 : 617 Cloudview Place, Edmond
   
   3 beds, 2 full baths

   Size: 2,162 sq ft

   Lot size: 11,983 sq ft

Listing information deemed reliable but not guaranteed. Read full disclaimer.

 

Originally posted on okchomesellers.com

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/coffee-creek-september-2010-real-estate-marke

New Home Sales Unchanged In August; Market Stabilizing

Existing Home Sales rebounded last month after a lackluster July. New Home Sales data, by contrast, did not.

After an upward revision to July's data, New Home Sales remained unchanged at 288,000 units in August. It marks the second-lowest number of units sold in a month since 1963, the year government started its record-keeping.

At the current pace of sales, the newly-built home inventory would be depleted in 8.6 months.

The August New Home Sales was weaker-than-expected, but both Wall Street investors and Main Street economists are shrugging it off. The numbers were foreshadowed by weakening housing figures from earlier this summer.

For example:

1. Building Permits dropped between March and June


2. Housing Starts dropped between April and July


3. Homebuilder confidence continues to sag

Together, these three data points suggest that the market for new homes will be soft through at least this month.

With New Home Sales fading and colder months ahead, it may be an opportune time for home buyers in Edmond to look at new construction. Builders are eager to move inventory and the cost of materials remains low.

Buying "new" may never be cheaper -- especially with mortgage rates as low as they are. The 0.750 percent drop in rates since January has shaved $188 off of a $200,000 mortgage's monthly cost. That's $2,250 per year in savings.

As home supplies dwindle and mortgage rates rise, finding "great deals" in new construction will undoubtedly get tougher. Take advantage of today's market conditions, combined with builder pessimism. It may be the right combination at the right time to get that new home for cheap.

via Posterize

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/new-home-sales-unchanged-in-august-market-sta

New Listing | 16304 Morningside Dr Edmond OK | Muirfield Village

This is the popular, original Muirfield Village model home, back on the market.  Hickory wood floors, granite, sand textured walls, and stone fireplaces.  Barrel wood ceiling, old rustic wood beams.  Theater room, Awesome study and large master..  All the model home ‘extras’!

• 4 Bedrooms
• 4½ Baths
• Study
• Theater Room
• 4,500 Square Feet
• $750,000

16304 Morningside Drive Photos

 

Call today to schedule your private showing – 405.570.7398.

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/new-listing-16304-morningside-dr-edmond-ok-mu

Rid Your Kitchen Of Hidden Dirt And Grime

A kitchen is often a home's busiest room -- a meeting place for meals and conversation. It's also among the home's most grimy rooms. Bacteria, dirt and germs collect on floors, on countertops, and inside appliances.

In this 4-minute clip from NBC's The Today Show, you'll learn how to rid your kitchen of "nastiness".  The featured fixes use nothing but basic household cleansers and elbow grease, and they include:

• How to clean and restore wooden cutting boards and bowls


• How to remove "burn stains" from the side of a frying pan


• How to eliminate pervasive dishwasher odors

The segment also tackles why you should choose loofah over sponge, and how to catch fruit flies.

For as much time as you spend in your kitchen, it's best to keep it clean and sanitized.

via Posterize

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/rid-your-kitchen-of-hidden-dirt-and-grime

The Municipal Building — Oklahoma City Historical Postcards

From my Oklahoma City postcard collection…

The Municipal Building, also known as City Hall, was a part of the overall Civic Center development.  It was built in 1936. The Municipal Building was built at a cost of $600,000. This is the core location of much of Oklahoma City’s government, housing the mayor, city clerk, city treasurer, city attorney and numerous city related services.

Originally posted on okchomesellers.com

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/the-municipal-building-oklahoma-city-historic