NOW HEAR THIS:  OKLAHOMA HAS ALWAYS HAD THE GREAT DEALS--YOU ARE SEEING THEM RIGHT NOW!!
 

It's a common theme that I have been hearing from potential homeowners and investors--"Where are all of the great deals I keep hearing about?"  We have all seen the news and are painfully aware of the state of the real estate industry nationwide.  However, whether or not there are "great deals" to be had in your community is completely dependent upon the status of the market in your immediate area.  In Tulsa and all of Oklahoma, we were lucky to have survived 2008 with barely a scratch or a bump.  Because we never experienced the real estate "bubble" of inflated home values in years past, we were subsequently protected from the plummeting home values that you heard about in the headlines over the last year.  In fact, the Greater Tulsa Association of Realtors actually reported an INCREASE in home values in Northeast Oklahoma for 2008.  That was great news for homeowners and Realtors alike!

I also get many questions about the foreclosures that are popping up on the market in our area--are these the "great deals" we have all been hearing about?  Keep in mind that the institutions/persons who now own those foreclosed homes are ready to make a profit just like any other Seller!  If the market can support their asking price, they are going to go for the $$ if they can get it.  Foreclosed homes do not always equal a steal of a deal.

In fact, in the past several weeks in Tulsa and surrounding areas, I have witnessed several properties with the more "competitive" list prices receiving multiple offers that actually drove the sales price amounts up OVER the initial price that was listed when the home went up for sale.

So, please understand that the headlines you are reading about are not exactly pertaining to Oklahoma.  Yes, there is great inventory available in our area, yes there is more of it than the year before, yes there are Sellers who are ready to negotiate.  However, if you are looking for the drastic deals, you might start in Las Vegas.  Otherwise, get smart and take advantage of awesome interest rates, the $8000 First Time Homebuyers Tax Credit, great inventory and our already killer market that will keep getting better and better in the next year!