Thanksgiving

I hope that you all had a wonderful Thanksgiving Holiday with your friends and family. I know that I have so many things to be thankful for!

Tax Credit Extended and Expanded

During November the $8000 Tax Credit for home buyers was extended until April 30, 2010. Consumers who have not owned a home for the past three years can receive the Tax Credit if they purchase a home before April 30th and close that sale by June 30, 2010.
In addition, the program was expanded to include homeowners who have owned their home for at least 5 of the past 8 years and want to purchase another home before the deadline. Buyers in that category can receive a $6500 Tax Credit. Furthermore, the income limits for purchases in both categories were raised significantly.
If you have been thinking of selling your home and buying another one or buying your first home, the next few months may be the best time ever to do so. Interest rates are low, prices in our area are very affordable and you can earn a $6500-$8000 tax credit. Contact me for more details!
Note: If you want to sell your home and buy another one to take advantage of the Tax Credit, you may want to start the process immediately! April 30, 2010 will be here quickly.

For more information contact me at slaunchbaugh@cbtulsa.com

A Cold Weather Tip

It is time once again to prepare our homes for winter weather. During the colder winter months, one problem encountered by homeowners is frozen pipes. When temperatures dip well below freezing, water pipes, especially those located near exterior walls, can freeze. The water expands, causing pipes to break, resulting in water damage throughout a large portion of the property. Below are some recommendations for preventing frozen pipes during extremely cold temperatures.

1. Keep the heating thermostat set above 60 degrees, even if you are away from the home for a period of time.
2. Where possible, leave interior cabinet doors near water pipes OPEN, allowing the warmer air to circulate around pipes.
3. Leave inside faucets dripping slightly.
4. Disconnect all exterior hoses.
5. DO NOT leave outside water dripping.

For more information contact me at slaunchbaugh@cbtulsa.com

UNIQUE OPPORUNITY!

Buy low-sell high! That is a successful investment strategy! On the other hand, many of us often do just the opposite. We wait until prices go up before we buy and only sell when prices are low. Unfortunately, many people do the same when it comes to real estate. Buyers often wait until the market is hot before they either sell and/or buy.
Currently, the residential real estate market in the greater Tulsa area is good, but not as active as it was a few years ago. According to statistics prepared by NORES, INC (MLS) the number of homes SOLD through September 2009 is down 9.9% and the average sales price is off 3.0%. Yet, this is a really good time to sell a home and buy another one.
Home prices in the Tulsa area remain among the most affordable in the country. Interest rates are hovering near record lows and the $8,000 tax credit continues. This combination of circumstances provides a unique opportunity for home buyers at this time. Even home buyers who need to sell a home and might have to take a little less than they desired for it can more than make up the difference in today’s market.
So, if you would like to have a new home, but have thought it is the wrong time, THINK AGAIN! Contact me at slaunchbaugh@cbtulsa.com to learn how you can benefit from today’s real estate market.

WHAT A VALUE!

The 2009 Coldwell Banker Home Price Comparison Index (HPCI) was released on September 23, 2009. In the annual comparison of similar 2,200-square foot, 4 bedrooms, 2 ½ bath homes in 310 U.S. housing markets. La Jolla, California was the most expensive at $2,125,000 while Grayling, Michigan was the least expensive at $112,675.
Tulsa continues to place among the most affordable housing markets in the country, ranking 17th with an Index price of $154,800. The overall national average price of homes in the 2009 Coldwell Banker HPCI was $363,401, and only 84 cities in the study has sample home prices below $200,000.
To view the entire 2009 HPCI go to coldwellbanker.com. Some other neighboring cities in the study are listed below.

Tulsa $154,800
Oklahoma City $164,250
Ft. Worth $153,450
Wichita $144, 625
Houston $159,847
Kansas City $217,366
Dallas $333,375
Fayetteville $216,125

For more information contact me at slaunchbaugh@cbtulsa.com