It’s funny how things turn out some days.  Monday afternoon, I was sitting at the closing table with a young professional couple who’d qualified for a 4.5% fixed-rate on a new 30-year mortgage.  As most of you know, I like to keep everyone up-to-date on the where, when & how of my day, via Twitter, so I sent out a ‘tweet’ that read:

Sitting @ the closing table with buyers locked in @ 4.5 percent. Who’da thunk it?

Little did I know that would stir up such a conversation over on facebook, and furthermore, open the door to a little Q&A time with Oklahoman Real Estate Editor, Richard Mize.

His writeup summarizes what I’ve been experiencing in the Central Oklahoma real estate market lately, and it’s always nice to put in my two cents.

[where: Edmond, OK]

Monarch Butterfly

Originally uploaded by kojo_46

I hope this week’s feature photo of Central Oklahoma encourages us all to slow down a little bit and better appreciate mother nature’s little things.

My wife and I recently upgraded to a beautiful home in West Edmond that is landscaped to the max.  Being surrounded by so much plant life has opened my own eyes to things I never really took the time to enjoy before.  In addition, that plant life attracts some amazing insects and birds.

Our new friend, kojo_46 has captured a piece of such natural beauty in this beautiful photo. Be sure you click through the picture to view it in it’s full-size glory!

And an extra-special thanks to kojo_46 for sharing this work of art with us!

[where: Edmond, OK]

You may remember all the buzz in October and November about Edmond’s proposed Public Safety Center.  It seemed at the time that most of the opposition to this proposal lied in how the project would be funded, therefore it failed in grand fashion when it was put to a vote on November 4th.

However, according to a recent article published by the Edmond Sun, there’s still plenty of opposition to the project.  I’m still not hearing anyone say that we don’t need the new Public Safety Center.  Instead, it seems that the location of the facility is what’s really at issue now, and it’s a very heated issue with some, with eminent domain even being strongly suggested.

You’ve probably driven by Barnett field a thousand times, and never really thought much of it.  But since several of my own kids have played baseball and soccer there during their pee-wee years, this place holds memories for me.  I’m not implying that memories are all that should be considered in an issue like this, but I do encourage every resident of Edmond to really study up on the different perspectives of this project, so that when it comes up for vote again, you’re prepared to make an informed decision.  This center is a BIG deal for our city, and we want to be sure it’s done right, and with the blessing of as many residents as possible.

[where: Edmond, OK]

As you, my clients and readership, already know, I am adamantly opposed to the traditional means of marketing your homes. I’ve known for far too long that the old way of doing things is more than just old; it’s a waste of resources, further validated by a very well-written post I found this morning.

I’m with Brian Boero:

I refuse to accept that most sellers — the median age of whom was 39 last year — aren’t open to a well-thought out electronic marketing strategy in lieu of the quarter-page ad in which their home shares center stage with an agent head shot.

The recent failure and discontinuation of many Real Estate inserts around the country (and huge decline in newspaper sales overall, as shown by the graph to the right), proves the decline of traditional print media.  Now, if it were effective and provided a good ROI, would it be gaining ground, as opposed to losing ground?

The marketing dollar can be stretched much further with the use of new media, but sadly, in our local market, many of the agents who think they’re ahead of the times are still missing the boat.  Recognizing the uselessness of old-school marketing methods is commendable, but replacing the old way with broader, more effective tools is critical to a successful sale in our more difficult sellers market.

So, the next question is, what are these broader, more effective tools?

Another question, does ‘Internet Marketing’ simply consist of an MLS listing and inclusion on the listing agent’s website?

[where: Edmond, OK]

Edmond Oct 08 400K

Originally uploaded by rhukill

The chart on the right (click to enlarge) represents October home sales in Edmond, specifically for homes that sold between $400-500K.

The light blue section represents existing home sales in Edmond, while the darker blue section outlines new construction sales in Edmond. Each of these segments is compared to the previous month and the previous year.

As you can see, in this particular price segment, existing homes experienced a decline in both average and median pricing, while new homes increased in year-to-year value. Both segments sold faster than this time last year.

If you’re interested in higher denominations, go ahead and subscribe to our feed and you’ll get the subsequent posts delivered straight to you.

Here’s the post that outlines the October sales statistics for Edmond home sales between $100-200K

Here’s the post that outlines the October sales statistics for Edmond home sales between $200-300K

Here’s the post that outlines the October sales statistics for Edmond home sales between $300-400K

What are your thoughts on these stats in comparison to your perception of the current housing market in Edmond?

[where: Edmond, OK]

February Morn

Originally uploaded by cmk53

This week’s feature of Central Oklahoma takes us to the area of Sooner Rd & Covell. This area of Edmond is still largely undeveloped, so it’s no surprise that you might find a rural feel at times, such as this beautiful picture from Mike (cmk53) captures.

Also embodied in this work of art is one of those beautiful sunrises that we’re so often blessed with here in Edmond. Be sure you click through the picture to view it in it’s full-size glory!

And an extra-special thanks to Mike for sharing this beauty with us!

[where: Edmond, OK]

Time for part 3 of the October home sales statistics for Edmond, OK. I used to just publish overall numbers, but I get much more specific questions these days from Edmond home builders, and home buyers, and it’s been enlightening to see exactly which price segments are being hardest hit by the current slowdown.

Here’s a breakdown of October home sales in Edmond, specifically for homes that sold between $300-400K:

The light blue section represents existing home sales in Edmond, while the darker blue section outlines new construction in Edmond. Each of these segments is compared to the previous month and the previous year. As you can see, in this particular price segment, we experienced a decline in both average and median pricing.

Rather than bombarding you with a ton of confusing data, I’m only publishing one price segment at a time, so if you’re interested in different denominations, go ahead and subscribe to our feed and you’ll get the subsequent posts delivered straight to you.

Here’s the post that outlines the October sales statistics for Edmond home sales between $100-200K

Here’s the post that outlines the October sales statistics for Edmond home sales between $200-300K

What are your thoughts on these stats in comparison to your perception of the current housing market in Edmond?

[where: Edmond, OK]

While there’s nothing funny about the financial woes many in our country face today, my (often-questionable) sense of humor got the best of me with this video; probably mostly because through the humor there are some truths that could be related to all parties at fault in this whole big mess… Enjoy!

Here’s part 2 of the October home sales statistics for Edmond, OK.  I used to just publish overall numbers, but I get much more specific questions these days from Edmond home builders, and home buyers, and it’s been enlightening to see exactly which price segments are being hardest hit by the current slowdown.

Here’s a breakdown of October home sales in Edmond, specifically for homes that sold between $200-300K:

The light blue section represents existing home sales in Edmond, while the darker blue section outlines new construction in Edmond.  Each of these segments is compared to the previous month and the previous year.

As you can see, in both new and existing homes, we’re still experiencing appreciation year-over-year.  This data is further backed up by Richard Mize’s latest column on home appreciation in Oklahoma.

Rather than bombarding my readers with a ton of confusing data, I’m only publishing one price segment at a time, so if you’re interested in different denominations, go ahead and subscribe to our feed and you’ll get the subsequent posts delivered straight to you.

Here’s the post that outlines the October sales statistics for Edmond home sales between $100-200K

What are your thoughts on these stats in comparison to your perception of the current housing market in Edmond?

[where: Edmond, OK]

I wanted to share with you an email I just received from Cody McCollom of Grandmark Mortgage in Edmond.

As most people know by now, one of the biggest hurdles facing the housing market right now if the inability of many to qualify for a mortgage, due to the ‘freeze’ in the credit market.  It looks like there may be relief in sight, as I said there would be eventually.  If the mortgage companies aren’t lending money, they aren’t making money, so they’re bound to loosen up a little bit on the guidelines, sooner or later.  This may be some light at then end of the proverbial tunnel:

News this morning could be a big boost for the mortgage market and make for more home sales.  They have finally pulled their heads out and realized that real estate is not going to heat up until they get the mortgage market up and running again from a credit availability standpoint.

The Fed announced a new bailout plan this morning to buy up hundreds of billions of dollars of loans and mortgage-backed securities from Fannie, Freddie, and the Federal Home Loan banks.  This could cause a drop in rates but, more importantly, should relax the credit freeze a bit and allow more people to qualify  for mortgages than have been able to lately.

Let’s keep our fingers crossed, as the health of the mortgage market has a dramatic, direct impact on our local and national economy.

[where: Edmond, OK]