This Month in Real Estate

April 2012 Market Update

Now four months into 2012, both the housing market and the overall economy are improving at modest rates.  These improvements have inspired confidence in consumers, demonstrated by a 9.2% increase in pending homes sales in February from the year prior.

Both home prices and sales are expected to increase in 2012.  Lawrence Yun, chief economist for NAR, stated, "Falling visible and shadow inventory <Bank held properties>, combined with a dearth of new-home and apartment construction during the past three years, assure that rents will continue to rise, with likely home price increase in 2012.

As rents continue to rise, buying becomes a more and more attractive option as home affordability, or the percent of income it takes to pay the mortgage, continues to be among the most favorable in history.  Trulia's Winter 2012 Buy vs. Rent Index, which measures the relative cost of renting compared to asking prices of homes found that in 98% major metropolitan areas sampled, it was more affordable to buy than to rent.

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Home sales dipped 0.9% in February to 4.59 million units, yet are 8.8% higher from a year ago.  A strengthening confidence with an increasing amount of people in the market.  Additionally, as the market shows signs of improvement, more people are feeling the urgency to buy while prices and interest rates are still at some of the most affordable levels in history.

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Housing inventory rose 4.3% in February to 2.43 million homes, representing a 6.4 month supply, up from 6 in January.  There are several factors driving this increase in the inventory of homes.  First, banks have settled major lawsuits regarding fraudulent foreclosure practices with state governments, which has enabled them to start moving many foreclosures off their balance sheets and into the market.  Pending sales are up, and home building is starting to show signs of life again after three years of low new-housing construction.

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Don't miss the boat!  If you've been waiting to see values keep dropping you've missed that window.  Now is the time to jump on board and purchase your home before the prices increase more....

visit www.homesintulsa.org to start your home search today or call G. Streeter (918) 809-0713

I look forward to helping you find your NEW home!

10 tips to a GREENER kitchen

What are you doing to help make this world a better place?  Below are some helpful tips that can go along, every little bit helps.

10 Tips to a Greener Kitchen

1. Use Healthy Eco-Friendly Cleaners
Many common household products contain toxins that could be affecting your family's health. Buying natural safe cleaning products will help eliminate any risk of unnecessary toxins in your home.

2. Curb Paper Towel and Napkin Use
2.5 million tons of paper towels fill up landfills annually. A great solution is to buy a set of cloth rags, bar towels and fabric napkins to wash and reuse. It may be an added expense up front, but it will pay off in the end.

3. Replace Antibacterial Hand Soaps
Studies have shown that antibacterial soaps are no more effective than simple soap and water. Antibacterial soaps can lead to stronger strains of bacteria that become resistant to antibiotics.

4. Plastic--- Just Say No!
The Wall Street Journal reported that Americans go through 100 billion plastic shopping bags annually and making these bags requires an estimated 12 million barrels of oil. To reduce plastic bag consumption, use alternative options such as; reuseable bags, paper bags, or even, no bag at all!

5. Replace the Sponge!
Sponges are bacteria incubators. Although a sponge seems like a great cleaning tool, it may not be the healthiest solution. Replace your sponge with dish rags!

6. Create a Recycling and Compost System
If you don't recycle, the best way to get into the habit is to set up a simple system. Get a second trash can for inside your home and put it next to the trash can and label it "Recycling". If you are ready to take it a step further, composting is a great way to turn your waste into soil like material that can be used in your lawn and garden.

7. Replace Nonstick Cookware
Nonstick cookware releases toxins when over high heat, has a short life-span (nonstick coating usually wears out in a year or two) and the nonstick coating can scratch off into food. Healthy alternatives include stainless steel, cast iron, copper and glass.

8. Buy In Bulk
Buying in bulk means less packaging and fewer trips to the store. You'll also benefit from financial savings!

9. Update Kitchen Lighting
Kitchen lights are some of the most frequently used lights in the home. Energy efficient lights may be a high upfront cost but they use 75% less energy, generate 70% less heat and last up to 10 times longer.

10. Buy ENERGY STAR Appliances
If you are in the market for new appliances, choose one that has been proved more energy efficient. Many old appliances use a lot of unnecessary energy. If you don't already have HWA's Green Plus option--- add it today!

Mortgage Rates

Owning a home is more affordable than you probably think.

Affordability measures ability to buy - that is,
 the amount of a median family's income 
consumed by the median mortgage. In 1981,
 it took 36% of the median family's income to 
pay the mortgage on the median priced 
home. Today it takes 15% -- a historic low! 

Call today and let's get started!

Open House ~ Today 2:00 - 4:00

OPEN HOUSE ~ Sunday 03/18/12 2:00 - 4:00

(click image for more info)

(click image for more info)

Wonderful Open house today (Sunday March 18, 2:00 - 4:00).  Beautiful McCarville
built articulated with care. 

Sound barrier wall located in front to provide tranquility and privacy.  Get involved with the
landscaping committee and help design your peace!

5001 S 163rd E Ave, Tulsa, OK.  74134

Directions:  51st & Aspen, East on 51st to 163rd E Ave, North on 163rd to Open House.

To Buy or not to Buy!

To buy or now to buy, that is the question.  Many buyers have held back from making a purchase and tried to predict the market.  Some analysis believe they can predict when the Real Estate market will be at it's lowest.  Over the past year many cities have experienced an increase in activity.  With this increase of activity will also cause an increase in home values (supply and demand).

Last week I sold 4 houses in one day.  Incredibly, I could have sold one house a hundred times.  This activity is very exciting and will help stimulate the Real Estate market once again.

Many buyers were leery of purchasing a home due to declining values, but in reality the last 2 years were the best possible time to purchase a home.  The opportunity to purchase a home below market value, with the possibility of recovery in a short period of time meant.  Most Real Estate investors have taken this opportunity to stock their retirement fund.  Have you taken your opportunity to make the decision to become a homeowner?

New Listing

5001 S 163rd E Ave, Tulsa, OK.  74134

Amazing new listing located in Highly Desired Trinity Creek

(Parks, Pool, Club House, Trails, and Ponds)