Some Good News!

As real estate professionals working in our local real estate market, one of the biggest challenges we face is overcoming the constant “doom and gloom” news reports being disseminated almost every day. Reporters seem to revel in listing every negative statistic they can find while ignoring any good news, especially when it comes to our economy and the housing industry. Certainly, there are some serious economic issues, especially on the national level, but there are also some positive facts which should be presented.
For example, a recent monthly report on foreclosure rates showed Oklahoma had a 47.3% increase in foreclosures in July when compared to the previous month. What was not emphasized in the report was the fact that Oklahoma’s foreclosure rate (1 per every 930 households) is still almost half of the national average (1/484). Furthermore, that 1 of every 930 homes is only 1/10 of one percent of all the homes owned by Oklahomans.
As for Coldwell Banker Select Realtors, July was an excellent month for home sales. Our closed number of sales was up 4.6% over July 2007. More significantly, the company’s written business in July was up 22.3% in units and 33.2% in volume over the same month a year ago. Furthermore, August written and closed business are both starting out ahead of the August 2007 pace.
If you would like to sell and/or buy a home, but think the market is really bad, get the real facts on our local real estate market. Contact Sarah at slaunchbaugh@cbtulsa.com. I will get you the actual statistics for our housing market. You will see a different perspective than you get from news reports. Then you can make your decision based on the reality of our real estate market rather than the slanted perspective of the media.