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.
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.
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.
As we all know by now, the citizens of Edmond voted a resounding ‘NO’ to the proposed Edmond Public Safety Center on November 4th. A recent study was released which evaluates why the proposition failed and, of course, the funding mechanism was the biggest issue, as I predicted it would be.
It appears to me that if a new plan is presented, funding the center via sales tax, it would be approved. It’s nice to see the residents getting involved and standing up for what they believe to be right.
This week’s feature of Central Oklahoma takes me to something many of us in Edmond have a love-hate relationship with. It often seems that when we’re short on time, the train gods are out to get us at the crossings of the rail that runs North and South through our fair city.
But did you know that Santa Fe line actually has historical meaning for Edmond, OK? It’s what brought about the development of a city at mile 103 of that line; a city we now know and love as Edmond.
So next time you’re stuck at a RR crossing trying to get in or out of Edmond, remember that line has brought years of commerce and growth to our home city. While you’re remembering that, remember this beautiful picture provided to us by Rick (sfhobo). Thanks for sharing, Rick!
With the increasing consumer concern in the marketplace, I’ve begun delving deeper into overall sales statistics lately. 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 $100-200K:
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.
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.
What are your thoughts on these stats in comparison to your perception of the current housing market in Edmond?
This is one that you truly have to see to believe. From the tons of ceramic tile to the hardwood floors and the mis-matched granite countertops, you’ll be blown away by the finishing touches abound in this modern, yet traditional beauty. You’ll see black trim, arched doorways, art niches, and more, all on over 1/2 treed acre in a country setting only 1.5 miles off of I-35 (Avian Woods addition of North Edmond. Check out www.YourOpenHouse.us for more info, or call us now to schedule your private showing!
Beauty is all around us, thanks to our Creator, but in our day-to-day hustle & bustle it’s easy to miss out on it. We often take it for granted, but sometimes we just need to slow down and ‘smell the roses.’
With that in mind, I’m making an effort to highlight something beautiful – maybe even unique – about Central Oklahoma each Friday. These shots of our local landscape make up this beautiful place we call home.
I recently listed a gorgeous lot in NE Edmond, which will soon be a lucky someone’s new home site. Located in Clos Du Val, of NE Edmond, this lot is perfect for those looking to build their dream home in an exclusive neighborhood filled with charm. The trees and rolling hills add to the ‘out-there’ feel of this beautiful development, and it’s still located with convenient access to anything in the city, only 5 miles off of I-35.
As indicated by the frequency of my ramblings on the topic, proper home pricing is one of my largest hurdles when meeting with hopeful home-sellers. Common sense tells me that will never change, but I feel that helping those who want to buy or sell homes in Edmond better understand the market is not only my job, but it’s my duty.
Business Week just published a pretty interesting story about the tendancy of homeowners to hold on to unrealistic expectations in regard to the value of their homes – even in this ‘declining’ market – and how that affects the overall recovery of the market. I can’t disagree with most of their points about the ‘stubbornness’ of some home sellers, and I’ve witnessed the ‘better-than-average’ effect more than a few times, but I think the blame belongs less on homeowners and more on the agents who routinely take overpriced listings. After all, if an unrealistic home seller is turned down by 2 or 3 agents in a row, and those agents are honest with that seller about why, won’t he/she eventually lower expectations and become more open to the reality of the market? Unfortunately, what happens many times is the reverse.
How about an unexpected move that’s going to shake things up in the realm of Edmond and OKC Metro real estate? It was just announced this morning that our office (Paradigm Realty) and another large, respected Oklahoma City brokerage are joining forces, giving us the leverage and bragging rights of being the largest independent brokerage in the metro.
With a combined total of about 160 REALTORS and roughly 700+ current listings, get ready to see a LOT of new signs throughout Edmond and the rest of the metro area. This will allow us much better brand recognition, further marketing reach, and a huge exposure boost for our selling clients, in addition to many other benefits that I’ll be highlighting shortly.
So, who’s the other brokerage? It’s AdvantEdge Real Estate Group! Combined, we’ll now be known as PARADIGM ADVANTEDGE REALTY! What do you call it when you combine two well-known companies with powerful reputations?
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Nov 26, 2008 
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$200-300K
