Oklahoma City and Housing Affordability

Are you feeling it?  That itchy feeling that says that NOW is the time to make the move that you have really been needing to make for several seasons, but just felt that the economy was too risky? 

There are probably reasons for the itchy feeling:

1)  As I posted a few days ago, there are some predictions out there that we are in the final stages of the really great interest rates that we have been enjoying for the past several years.
2)  According to the Oklahoma City Metropolitan Association of Realtors, the number of closed sales increased by more than 33% in February 2012 over February 2011. 
3)  The average sold price was up $5000 and the number of days on the market dropped to below 100 during the same time period.
4)  Perhaps most importantly to those of you who have a home to sell, the number of homes for sale dropped by more than 800 from February 2011 to February 2012.  This is a great sign for people with nice homes to sell.

Additionally, worldwide, the Oklahoma City market continues to rank among the most affordable cities in the world.  Thankfully, we are no longer in the catagory of the markets that are truly depressed like Detroit and other places that have seen the kinds of downturns that we saw in the notorious 80's, but we are still in the top 15 most affordable major metropolitan markets in the USA which is number 1 in the world for affordable major markets!

Makes you want to sing God Bless America, doesn't it?

Oklahoma City remains so very well ranked because of the solid nature of our people, who are determined to live reasonably.  But, sooner or later, everyone needs to move on.  So if now seems like the right time to you, give me a call.  I really can help.

Elaine Thomasson, CRS, GRI, SFR
405-387-2381 or 405-243-7981 or toll free 866-352-4633 (866 Elaine 3)











Resoources:
 http://economistsoutlook.blogs.realtor.org/2012/02/07/international-vs-u-s-housing-affordability/
Oklahoma City Metropolitan Association of Realtors Multi-List Statistics for February 2012

Interest Rates Set to Rise

For all of you who have been thinking, "I really should take advantage of current interest rates.  After all, how long will it be before inflation pushes rates higher?"  Here is an answer.  And it makes perfect sense to me. 

Give me a call if it makes sense to you, too, and you would like to take advantage of the current low interest rates. 405-243-7981
http://economistsoutlook.blogs.realtor.org/2012/03/12/mortgage-rates-3/