No plans for the weekend? Good… mark your calendars, because the Downtown Edmond Arts Festival kicks off tomorrow (Friday, May 1st) and runs through Sunday.

Check out the Artist Schedule for performers at the Festival Market Place Plaza

Need more evidence of the strength of the housing market in Oklahoma?

I regularly post our local Central Oklahoma real estate statistics here to keep you informed, and they’re quite contrary to what you’ll hear if you watch the national news, but the Federal Housing Finance Agency just published the U.S. Monthly House Price Index, which not only backs up the fact that Oklahoma is standing strong in the face of a real estate decline, but further shows that our region (which includes Oklahoma, Arkansas, Texas, Louisiana) is actually out-pacing EVERY other region in the U.S.  In addition, it’s the ONLY region that actually posted positive appreciation over the last year.

So, rejoice Okies! We’re in far better shape than you might have thought!

When the new $8,000 Tax Credit was announced, I heard a lot of frustration from my clients who aren’t first-time home buyers.. and rightfully so.. but we had a lot of conversations about the ‘trickle-up’ effect it would have on them.

In other words, even though their pocketbooks didn’t directly benefit from the new credit, they’d still see some benefits; Those first-time home buyers were in a position now to take some of the entry-level homes off the market, allowing the sellers of those homes to move up to their next home (which may well be the homes these clients were trying to sell).

Now, after a few months, I think we’re finally seeing some of the results of these types of situations.  ALL of our larger homes have experienced a surge in activity the past few weeks, and many of them are now under contract.

You know what, though? There are other benefits for the move-up home buyers, and the NAHB just published a nice little outline of some of those benefits.  Here are the bullet points:

• Interest rates are at historic lows, which means you can buy more house than you could a year ago — for the same monthly mortgage payment.
• Prices have come down. Even if your current home is worth less than during the last housing market peak, your dream home is likely more affordable too.There are plenty of homes on the market right now, both new construction and existing, giving you lots of choice—and negotiating power.
• You can move in to your new home faster, as many builders either have completed homes in inventory or they can start work right away due to the production slowdown.
• You may have outgrown your home, but it’s probably someone else’s ideal starter home. With the $8,000 tax credit expiring Nov. 30, now is the time to market your home to first-time buyers.

According to a report just released by the US Census Bureau, Americans are moving less now than any time in the past 60 years!

While I believe this to be a temporary thing until the economy recovers, it’s interesting to see the statistical data on this change in behavior.

‘Foreclosure’ is one of the big buzz words among the home-buying public these days, and for good reason; it’s hammered into our heads each night as we turn on the tube. Naturally, as a result, the perception with the general public is that foreclosures are everywhere and they can be bought for fifty cents on the dollar.

Here’s some reality though.  According to Dave Ramsey, roughly 60% of the foreclosures currently littering the US real estate market are located in only 4 states (California, Nevada, Arizona, and Florida), leaving the remaining 46 states with a very small piece of the foreclosure pie.

CNNMoney.com just published some more interesting foreclosure statistics, and one in particular was quite staggering:

• In Las Vegas, one in every 22 homes was subject to a foreclosure filing in the first three months of the year

According to Marketwatch, Tulsa and Oklahoma City are tops in the country, due to stable local economies and strong housing markets.

Of course this is no surprise to us, but I think some folks around the country might be caught a little off guard, and by the looks of some of the comments, maybe even offended.

One of my many iPhone shots from the live Town Hall For Hope broadcast last night
Originally uploaded by rhukill

Last night was a great, encouraging time. My Wife and I had the pleasure of attending the live ‘Town Hall For Hope‘ event at Lifechurch.tv and hearing directly from the man, Dave Ramsey, about his take on the current economy. I, of course, love to have my own beliefs validated, but I think my wife might have thought she was listening to me in a Dave Ramsey costume or something

The common thread running through his hour-and-a-half talk was that the world is NOT coming to an end, that we are NOT in a depression greater than the great depression, and that if you want things to turn around, you have to take personal responsibility for your own finances and your own situation and make things happen. In other words, QUIT listening to the doom & gloom media, QUIT being scared, QUIT making excuses, and QUIT waiting on the government or the President to fix things.. it’s not their job, and even if it were, they couldn’t possibly do it! It’s up to each of us individually!

I’m hoping to have some video to post up on here soon for those of you who missed it, but for now, I’ve got a few quotes from Dave to leave you with, that directly addressed the real estate market:

• “Housing will lead us out of this recession.”
• “It’s the best time in 30 years to buy a home.”
• “I’m continuing to invest in real estate.”

Follow the smart money. Dave knows his stuff, and he’s right on the money about the real estate market.

As my family, friends and clients know all too well, I’m heavy into the new age of business. Social media is transforming the way we all connect and interact, and as a result, my real estate business is ‘just a bit’ different from my competitors’.  In fact, almost 100% of my company’s income this year has resulted directly from my online business.

Interestingly enough, it’s not just real estate that’s experiencing a paradigm shift. I personally know insurance agents, college professors, doctors, website designers, state representatives, home builders, attorneys, and church leaders (and so many others) who have incorporated facebook, myspace, twitter, linkedin, and other social media platforms into their day-to-day operations.

This is no fad, and the growth is not slowing down, as Paula Burkes of the Oklahoman highlighted over the weekend. While my input on the topic was cut short in this write-up, I’m certainly not short on my belief that this is more than just a ‘quirky little toy for the kids.’

I’ve heard a lot of buzz lately about the introduction of the Pita Pit to Edmond.  So far, all reviews I’ve heard have been quite positive, so I’m looking forward to checking it out myself.

Something new and different is what I get excited about, since we get bored with the same ole pretty easily, but the health factor is a big motivator for many who have already tried it out.  Variety is a good thing, so check out the Pita Pit and let me know what you think!

Several months back I heard someone declare that down-payment assistance programs were dead and we’d never see them again.  Well, apparently, that someone was wrong.

As of the end of this month, there will be about $31M available to first-time home buyers in Oklahoma in the form of special bond money, at 5.83%, and down-payment assistance up to 3.5% of purchase price.

Some are even calling it a modern-day land run. I guess that comparison can be easily drawn, as we’re seeing an already amazing offering (historically-low interest rates, an $8K tax credit, and a market leaning in favor of the buyers) made even better with the availability of this program.

So, if you’re a renter, there may never be a better time to jump into the world of home ownership. For more details on this program, just call or email us, and we’ll help you get the ball rolling.