If you are thinking about relocating to Oklahoma City..This is for you!  The Video below you show you the in and outs of our new “Big League City”.  I hope you enjoy it!

Let me know your thoughts!

Oklahoma City has a unique economy and is thus a somewhat awkward place to be when selling a house. While the housing market is certainly not difficult it is rather unusual due to the unique nature of urban sprawl surrounding the central Oklahoma City area. It is thus hard to accurately gauge the value of a house in any particular area or how likely it is to sell. People in Oklahoma City thus need to be very careful when choosing how they are going to sell their house. Only through hard work, dedication and a careful understanding of the unique Oklahoma City housing market can they expect to get the full value out of the sale.

The most important part of any house sale is to determine what the house is truly worth. This can be done by having it inspected and appraised, although it will only provide a good ballpark estimate. After an inspection it is a good idea to talk to retailers and see what they think the house is worth. Because no individual retailer will have a full picture of what the local housing market is like, it is a good idea to talk to a number of retailers and look for general trends. This is also an important step if a person intends to sell their house through a retailer since it will allow them to find out which retailer is a good fit. Retailers vary greatly in their opinions and data and there may also be a big difference among retailers as to what the house should be priced and how it should be advertised.

The current economic crisis has resulted in a massive uptick in the number of foreclosures in Oklahoma City. This comes not only from the collapse of the sub-prime mortgage market, but the fact that increasing unemployment has made many formerly solvent borrowers unable to pay off their loans. This has been a great bane to house owners, who have seen their property values drop as homeowners are forced to move in with relatives, leaving houses abandoned and uncared for under bank ownership.

This is somewhat of an advantage to those seeking to purchase a house. While credit is still very hard to get in the current economic environment, government housing credits and bank owned properties have made houses more affordable and put potential buyers in an excellent position to negotiate. Houses quickly lose value when unoccupied, due to break-ins, natural forces, and neglect. Small problems such as leaky pipes would be quickly fixed in an occupied house, but they would become a disaster in an unoccupied home.

As such, buyers must be careful to examine a house thoroughly before purchasing, to make sure that it is in good repair. Banks often never even see the houses they have repossessed, and are unaware of serious structural problems or the removal of essential appliances by former residents. Anyone looking to purchase a repossessed house should first have it examined by a housing inspector. A house is no bargain at any price if it is unliveable, and may in fact become a liability to the new owner, who will have to take responsibility for any damage caused by neglect or former occupants.