Oklahoma County Home Inventory
I have seen an upsurge in activity in pending and sold listings in our Eastern Oklahoma County area. It is really exciting to see that there are buyers out there ready to purchase a home. In the March 1, 2009 – March 31, 2009 time frame 72 homes went under contract/pending status! They ranged in price from $24,900 – $349,900. The current inventory available for sale is about 6.5 months of homes, which gives the buyer a slight edge.
Some sellers may be reducing their asking price because of the general belief that the real estate market is depressed. We have had none of the meltdowns in real estate values that the major cities on the East and West coasts, Phoenix, Las Vegas, etc. have seen. Our values here have actually risen modestly over the last year. This is very good news for both buyers and sellers.
Right now in the general Choctaw, Midwest City, Nicoma Park & Harrah area there are 38 homes that were built between 1990 & 2009 currently on the market. They range in price from a 3 bed 2 bath 2 car garage built in 1992 for $110,900 to a 4/2/2 built in 2006 for $159,900! There are several 08′s and a few 09′s listed for $149,500-$159,900! We will have what you are looking for! If you are thinking about buying a home, now is the time!
Home Renovation Pointers
We all love to put our stamp on our homes. Whether they are new construction or resale almost no one moves in and does nothing to make the house their own! I personally love the color red. I could have red everywhere and be very happy. Unfortunately most real estate buyers do not share my enthusiasm for red. Therefore the REALTOR in me has kept me from making the high dollar finishes in my kitchen so personal. I will let you in on a little secret – I may be breaking one of my cardinal rules in my own home: only use neutral paint colors. In these times of uncertainty a couple of coats of paint are not expensive and they can add a tremendous amount of enjoyment to a home. Soooooo I may be adding some personal, not so neutral colors to my own home soon!
You also may love black woodwork, pink & or navy carpet, wallpaper on all of your walls etc. etc. If you love these things and they make you happy great go for it! You need to keep in mind that it may be a distraction for the buyers that look at your home. As part of negotiations you may need to add a decorating allowance for the buyer or prepare yourself for added negotiation in general because of the choice of colors and finishes in your home. If your REALTOR® comes in and says “You really need to change this prior to commencement of showings,” then you may want to bite the bullet and change it to remove the negative prior to your home’s first crucial days on the market.
Really expensive special order sinks (above counter type bowls etc.), high end lighting fixtures (that translate into very personal taste), children’s rooms that are over the top in decorating, etc. can also pose problems for sellers and buyers.
Keep these things in mind while you are outfitting your home. Enjoyment of your own personal home is very important and I am not saying don’t do anything other than neutrals. Just keep these things in mind. Also If you know you will be moving in a short amount of time you may want to keep the pallet more neutral in your home & add color and personality in your furniture and accessories only.
Buyer & Seller Information Seminar
I want to extend an invitation to you to attend one of our free no obligation “GET YOUR QUESTIONS ANSWERED HERE” Seminars. They will be Saturday April 18th from 11-12 and Saturday April 25th from 2-3. We will have Lenders, Inspectors a Title Company etc. to talk briefly about Real Estate issues in our Eastern Oklahoma County area . Then we will open up for your questions! Come & have your questions answered in a casual comfortable atmosphere! So if you or someone you know is a first time home buyer, is looking for a home & hasn’t bought a home in Oklahoma for a few years, or is going to be placing their home on the market please email me and let me know if you would like to attend. Seating is limited!