Home Sales Are Back On The Rise After A 2-Month Pullback

Just one week after reports of Existing Home Sales and New Home Sales plunging, the housing market is signaling that auturm may fare better than did summer.

The number of homes under contract to sell rose 5 percent in July.

The data comes from the July Pending Home Sales Index, as published by the National Association of Realtors®. By definition, a "pending home sales" is a home that is sold, but not yet closed.

Historically, 80% of such homes close within 60 days which makes the Pending Home Sales Index an excellent, forward-looking indicator for the real estate market.

Indeed, the nationwide drop in home sales this summer was foreshadowed by the Pending Home Sales report. The index dropped 30 percent in May. Then, two months later in July, it was shown that Existing Home Sales volume dropped 29 percent.

That's a strong correlation.

Now, to be fair, the July Pending Home Sales Index is still relatively low; the second-lowest on record and well below last year's numbers. But, the tick higher last month shows how housing may be stronger than than what the headlines report.

It appears that buyers in Oklahoma City took advantage of rising inventory, cheap financing, and stagnant prices, and pushed the market forward. We should expect similarly promising numbers when September's Existing Home Sales data is released.

via Posterize

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/home-sales-are-back-on-the-rise-after-a-2-mon

Lady Classen Cafeteria — Oklahoma City Historical Postcards

From my Oklahoma City postcard collection…

Oklahoma City was once known as the cafeteria capital of the world. We did have a lot of great cafeterias here, but the Lady Classen was perhaps the most well known. When the Lady Classen opened in 1954, it was at the far reaches of town, being at NW 70th and May Avenue! But it was an Oklahoma City landmark for 40 years. Unfortunately they lost their lease in 1994 and closed. Steve Lackmeyer has done an excellent history of the Lady Classen.

I remember my grandfather taking the family to dinner there on many occasions in the mid-1950’s.

I ran across the Lady Classen recipe for Goulash:

AUSTRIAN RAVIOLI (Goulash)

• 8 ounces elbow macaroni
• 1 cup canned stewed tomatoes, drained
• 1 cup tomato sauce
• 1 clove garlic, mashed
• 2 tablespoons olive oil
• 3/4 pound ground beef
• 3/4 cup cooked peas
• Salt to taste
• 1 cup grated Cheddar cheese

Boil macaroni in boiling salted water until tender — about 7 minutes. Drain and mix together with tomatoes and tomato sauce in a large bowl.

Sauté garlic clove in olive oil over medium heat until it begins to brown. Remove clove from oil and cook meat, stirring constantly to keep it loose.

Add meat to macaroni mixture. Stir in peas and grated cheddar cheese. Makes 4 servings.

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/lady-classen-cafeteria-oklahoma-city-historic

Skirvin Hotel — Oklahoma City Historic Postcards

From my Oklahoma City postcard collection…

The Skirvin Hotel is Oklahoma City’s oldest hotel and has been host to presidents, and me…

It opened in 1911 and is truly a grand hotel. It has been a downtown Oklahoma City landmark for years. Unfortunately it closed in the 1980s and was finally purchased by the city in 2002. The city eventually sold it and it reopened in 2007 as the Skirvin Hilton. It is absolutely beautiful now. My 20th anniversary was in May and we were given a night in the Skirvin as a gift and I can tell you that it was done right and is beautiful now. Bob Blackburn has done probably the best history of the Skirvin.

The Skirvin Hotel Today

Photo credit: Flickr/soonerpa

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/skirvin-hotel-oklahoma-city-historic-postcard

How To Change A Showerhead

There's plenty of reasons to want to change a showerhead in your head. Perhaps you're trying to fix a leak in the faucet; or, remodeling your bathroom; or, trying to conserve water via a low-flow showerhead.

Whatever the reason, changing a showerhead can be a basic do-it-yourself project. The tools aren't complicated and the job is a quick one.

In this 2-minute video from AOL, you'll learn:

• What tools you'll need to change the showerhead


• How to remove your old showerhead


• How to firmly attach your new showerhead to prevent leaks

If you get stuck, or just want to outsource, call a professional handyman to finish the job. Changing a showerhead should take less than a hour to complete.

via Posterize

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/how-to-change-a-showerhead

Oklahoma City #8 For Real Estate Investments

Oklahoma City Metro ranks #8 among 315 US Markets for making single-family real estate investments, according to a recent survey by Local Market Monitor Inc and reported in the Wall Street Journal.

Local Market Monitor compiled its’ first Investor Suitability report using market data through July 31 for 315 US markets. It ranks communities by their investment prospects focusing on single-family homes.

Of significance to Oklahoma City, their ranks were influenced by communities that had little probability of prices falling further.

The Top and Bottom 10

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/oklahoma-city-8-for-real-estate-investments

Springlake Amusement Park — Oklahoma City Historic Postcards

From my Oklahoma City postcard collection…

Happy Labor Day everyone! Since this marks the unofficial end to summer, I thought I would show one of my favorite summertime activities as a child growing up in Oklahoma City — Springlake Amusement Park. It’s sad it’s no longer here, it closed in 1981. It was truly a classic old-time amusement park.

From Springlake’s Facebook page…

Springlake Amusement Park was an amusement park in Oklahoma City, Oklahoma. It was originally established in 1922 (some sources say 1924) by Roy Staton about six years after his spring-fed pond at NE 40th and Eastern (now Martin Luther King Blvd) had been open to swimmers and picnickers. Staton expanded the park with the addition of many rides acquired from the defunct Bell Isle Park and construction of a ballroom. In 1929 he added the Big Dipper roller coaster, which would be a fixture in the park for the next fifty years. Admission was free and the rides and pool were pay-as-you-go, so visitors could picnic by the lake at no cost. The park was popular through the 1950s and 1960 and attracted many of the top entertainers of the era, including Johnny Cash, The Righteous Brothers, Roy Acuff, and Conway Twitty. A race riot in 1971, change in ownership, poor maintenance, and a devastating fire led to the park’s demise. The property was purchased in 1981 by the Oklahoma City Vo-Tech Board and Metro Technology Center was constructed on the site. Of the original park structures only the amphitheatre remains; a car from the Big Dipper and many photos of the park are on display at Metro Tech.

I think the fact that Springlake has its’ own Facebook page says a lot about how much people that grew up here loved Springlake.

I loved the Big Dipper and the Fun House. I also still remember going to a Beach Boys concert there in the 60’s.

 History preserved at Oklahoma City Metro Tech!

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/springlake-amusement-park-oklahoma-city-histo

Main & Robinson — Oklahoma City Historical Postcards

From my Oklahoma City postcard collection…

This photo is from the early 1950’s and is at Main Street on Robinson looking south. I remember Katz Drugstore there on the corner as it was a great place to go in for a cold drink when I was downtown.

Katz Drugstore gained fame in 1958 when it was the site of Clara Luper’s civil rights sit-in – one of the first in the country.

The State Theater is seen here and discussed in a previous post. The only building still standing today is the Colcord Building seen at the back right of this picture.

Main & Robinson Today

At the back left of this photo is the Ford Center. The Colcord Building is the last building on the right.

Originally posted at Oklahoma City Real Estate Blog

Submitted by OKCHomeSeller's Posterous via email from http://okchomeseller.posterous.com/main-robinson-oklahoma-city-historical-postca