Tuesday, September 11, 2007

Tulsa...Strong Homes Sales Continue

News release. Ron Sumner, Greater Tulsa Association of Realtors President

Tulsa, Ok. (September 6, 2007) The Greater Tulsa Association of REALTORS (GTAR) statistics for July 2007 are now available. The statistics provided are published monthly by GTAR based on the Northeast Oklahoma Real Estate Services (NORES) multiple listing service data. The statistics are based on residential properties in the Tulsa MSA (metropolitan statistical area), which is defined as a standard government based area. The Tulsa MSA currently includes seven counties: Tulsa, Creek, Osage, Rogers, Pawnee, Okmulgee and Wagoner.

According to GTAR President, Ron Sumner, Through July 2007, Tulsa area home sales continued at a pace nearly the same as the record-setting levels of 2006. Both the pending contracts (1,243/1,214; +2.4%) and the closed sales (1,223/1,220; +0.2%) increased over July by 2.2%.

Most significantly, home prices continued to climb. The average sales price ($163,788) in July 2007 was 12.6% higher than the average price ($145,454) in the same month a year earlier. In addition, the median sales price of $139,000 rose 5.7% over the previous month ($131,500/June 2007) and 8.6% over the previous year ($128,000/July 2006). The total volume sold ($200,312,954) was down 9.9% from June 2007, but up 9.3% over July 2006.

Finally, the number of homes coming on the market jumped in July 2007 (2,347) by 11.2% above the previous month (2,110/June 2007) and 7.8% over July 2006 (2,117). However, the year-to-date listings processed through July 2007 (15,269) was almost exactly the same as the first seven months of 2006 (15,279).

The Greater Tulsa Association of REALTORS is a real estate organization whose Northeast Oklahoma members are united to provide services; to promote education, professionalism, an ethical standards in order to assist members in better serving the public and protecting the free enterprise system and private property rights.

For comments, please contact GTAR President Ron Sumner at 918-251-4142 or NORES President John. L. Hausam at 918-492-2000.

Wednesday, September 5, 2007

Why hasn't my house sold?

Home sellers are very concerned when their home has been on the market for some time. The offers presented, if any, have been too low to even consider. The home hasn't sold. Quite naturally they want to know "what's wrong?".

That is a fair question. The newspapers say the home market is active again. Some homes in the area have sold. Now sellers are asking questions like "interest rates are down, aren't they?", "why haven't I had a serious offer?","Should I take my house off the market?", "should I change Realtors?

First of all, slow down. Don't panic. Tak a rational look at the market and make the most of it. Smart home sellers are moving their homes...and right now, today. But they recognize the market today is different from last year.

Second, the smart home seller comes to the obvious conclusion with cautious buyers looking at more homes you have to be competative, flexible, agressive, and do a better job of merchandising to generate offers. Your home can also sell, and quickly.

Third, sit down with your real estate professional and rethink your marketing plan. There are a number of actions to consider to beat out your competition.

Price. Reviewing your asking price is most dificult, painful and personal part of answering the question, "Why aren't we getting any action?". This is typically the single most critical element in your new marketing plan. Get "fresh" comparable sales in your area. Forget the asking prices of the homes that aren't selling. Your home must be priced to meet today's market or all the other elements of your new plan won't make much difference.

Terms. How flexible are you really prepared to be? How big a second can you take? Can you offer a fast escrow?

Merchandising. Are you offering a home warranty. A home warranty covers many of the important systems that can and do break down during the buyers first year of ownership. It stands to reason your home will have a competative advantage when it includes a protection plan. Today's buyers are picky. Give them something extra. Grab their attention.

Appearance. Remember the old advertising slogan, "Even your best friends won't tell you!"? Well, a good Realtor will level with you. Have your real estate professional give you a set of ideas on how to spiff up your house. Put aside what you think is nice or adequate. Listen to your professional advisor. Paint, clip, cut, clean, deodorize, send to storage, toss out, caulk, mow, paper, cement, repair, add, scoop, weed, tearn down, and scrub.

Little things do count. A minimum of time, effort and money spent now can bring large rewards.
Atmosphere. There are also some "do's and don'ts", which can be helpful in creating a selling atmosphere. Leave the house when it's being shown and take the dog and children with you. If you must be home, don't chat with buyers, just disappear. Tune the FM radio to quiet, soothing music. Be careful of cooking oders. Turn on all the lights. Fresh flowers are always a plus. Keep the temperature at a comfortable level, open windows and doors if weather and security permit. Pick up kid's toys. Help your real estate professional by creating a warm, pleasant, private sales environment.

We thank Mr. Phillip B. Branson for his insight.

Mr. Branson is a noted real estate author and lecturer. Fomerly a consultant to major firms, has been active in residential real estate since 1967.

Catoosa's Economic Story

KTUL-TV Tulsa, OK 08/31/2007

Catoosa wants to become the next broken arrow, owasso or jenks. It has four major projects going on right now. The largest is near i-44 and 193rd east avenue. 36 Acres have been acquired and the dirt is moving for retail shops and hotels and restaurants. Also happening, a street widening project to accommodate all the additional traffic. But new businesses here will generate more than just traffic.

Saturday, September 1, 2007

450 New Jobs coming to Catoosa

According to the Claremore Progress newspaper.

New wind tower company announces plant, 450 jobsRumors that Rogers County and the metro Tulsa area were due a “big” economic boost some time this year were confirmed late last week when DMI Industries, a West Fargo, N.D.-based wind tower manufacturer, announced in a low-key, two-page media news release that they are building a plant in Catoosa that will employ 450 people.“It’s big, as big if not bigger than Gatorade and Google combined,” said Don Cochran, executive director of the County Industrial Development Authority which played a supporting role in attracting the expanding industry to the Tulsa metro area. On Tuesday, DMI representatives will be hosting a job fair at the Renaissance Hotel in south Tulsa to begin filling up to 200 positions. When fully operational, the plant will employ 450. Mike Neal, Tulsa Metro Area Chamber president and CEO, said the announcement “takes another prime property off of the available list in Tulsa.” “It also is another example of the Chamber’s efforts to recruit progressive, high-quality jobs to the metro region. The economic impact of approximately 450 jobs with DMI will support an additional 540 indirect jobs in the metro region and generate a total economic impact of $157 million in goods and services.”