Selling My House (Part 2)

[patb]

[quote=unbiasedobserver]Some food for thought, who doesn’t think their price is ‘fair’? Realtors currently report 11 months of inventory, so for every house that is actually priced fair enough to sell, there are 10 homeowners wondering why their ‘fairly priced’ house is not selling (probably more like 12 or 13 if you count FSBOs, etc.)[/quote]

as the other commenter noted i thought the 249 for an mls
listing and a 49 charge to be on OpenHouseOK.com was quite
fair.

as for inventory, the national levels are high, but in OKC,
it’s low, 20 years of depressed economy left very little
new construction until recently which the energy boom is
sucking up.

That 4 dollar gas? it’s big bucks here.
the list:pending:sales ratio here is 1:1:1
which is amarket in balance.

[EconProf]

Yep, OK is an energy-rich state, and that makes all the difference in judging real estate markets. So is Texas, Lousiana, Wyoming, Montana, Utah, even North Dakota…all with relatively healthy real estate markets.
Another factor is agriculture. Corn and soybean-producing areas have bouyant real estate and land markets. Farmland in the midwest has increased 20% per year lately, and many farmers are suddenly finding themselves millionaires & buying McMansions, big toys, etc.

[EconProf]

Yep, OK is an energy-rich state, and that makes all the difference in judging real estate markets. So is Texas, Lousiana, Wyoming, Montana, Utah, even North Dakota…all with relatively healthy real estate markets.
Another factor is agriculture. Corn and soybean-producing areas have bouyant real estate and land markets. Farmland in the midwest has increased 20% per year lately, and many farmers are suddenly finding themselves millionaires & buying McMansions, big toys, etc.

[EconProf]

Yep, OK is an energy-rich state, and that makes all the difference in judging real estate markets. So is Texas, Lousiana, Wyoming, Montana, Utah, even North Dakota…all with relatively healthy real estate markets.
Another factor is agriculture. Corn and soybean-producing areas have bouyant real estate and land markets. Farmland in the midwest has increased 20% per year lately, and many farmers are suddenly finding themselves millionaires & buying McMansions, big toys, etc.

[EconProf]

Yep, OK is an energy-rich state, and that makes all the difference in judging real estate markets. So is Texas, Lousiana, Wyoming, Montana, Utah, even North Dakota…all with relatively healthy real estate markets.
Another factor is agriculture. Corn and soybean-producing areas have bouyant real estate and land markets. Farmland in the midwest has increased 20% per year lately, and many farmers are suddenly finding themselves millionaires & buying McMansions, big toys, etc.

[EconProf]

Yep, OK is an energy-rich state, and that makes all the difference in judging real estate markets. So is Texas, Lousiana, Wyoming, Montana, Utah, even North Dakota…all with relatively healthy real estate markets.
Another factor is agriculture. Corn and soybean-producing areas have bouyant real estate and land markets. Farmland in the midwest has increased 20% per year lately, and many farmers are suddenly finding themselves millionaires & buying McMansions, big toys, etc.

[patb]

Oklahoma is also part of Krugman’s “Flat-Land”, in the
Zoned Zones, coastal cities and restricted building areas(Chicago, Cleveland),
the relative inability to add new housing supply meant prices went nuts fast.

In Flat-land there was plenty of left over housing supply, from the 80’s
this was territory that was losing population since the 1950’s and
then there was new housing stock being created in open land
at much closer to marginal cost.

Now certainly goofy mortgages and low interest rates did shoot up
prices somewhat, but there was never the bubble here.

It just started to grow when the mortgage market collapsed, so,
most of the growth is now Increased income and new population.

[patb]

Oklahoma is also part of Krugman’s “Flat-Land”, in the
Zoned Zones, coastal cities and restricted building areas(Chicago, Cleveland),
the relative inability to add new housing supply meant prices went nuts fast.

In Flat-land there was plenty of left over housing supply, from the 80’s
this was territory that was losing population since the 1950’s and
then there was new housing stock being created in open land
at much closer to marginal cost.

Now certainly goofy mortgages and low interest rates did shoot up
prices somewhat, but there was never the bubble here.

It just started to grow when the mortgage market collapsed, so,
most of the growth is now Increased income and new population.

[patb]

Oklahoma is also part of Krugman’s “Flat-Land”, in the
Zoned Zones, coastal cities and restricted building areas(Chicago, Cleveland),
the relative inability to add new housing supply meant prices went nuts fast.

In Flat-land there was plenty of left over housing supply, from the 80’s
this was territory that was losing population since the 1950’s and
then there was new housing stock being created in open land
at much closer to marginal cost.

Now certainly goofy mortgages and low interest rates did shoot up
prices somewhat, but there was never the bubble here.

It just started to grow when the mortgage market collapsed, so,
most of the growth is now Increased income and new population.

[patb]

Oklahoma is also part of Krugman’s “Flat-Land”, in the
Zoned Zones, coastal cities and restricted building areas(Chicago, Cleveland),
the relative inability to add new housing supply meant prices went nuts fast.

In Flat-land there was plenty of left over housing supply, from the 80’s
this was territory that was losing population since the 1950’s and
then there was new housing stock being created in open land
at much closer to marginal cost.

Now certainly goofy mortgages and low interest rates did shoot up
prices somewhat, but there was never the bubble here.

It just started to grow when the mortgage market collapsed, so,
most of the growth is now Increased income and new population.

[patb]

Oklahoma is also part of Krugman’s “Flat-Land”, in the
Zoned Zones, coastal cities and restricted building areas(Chicago, Cleveland),
the relative inability to add new housing supply meant prices went nuts fast.

In Flat-land there was plenty of left over housing supply, from the 80’s
this was territory that was losing population since the 1950’s and
then there was new housing stock being created in open land
at much closer to marginal cost.

Now certainly goofy mortgages and low interest rates did shoot up
prices somewhat, but there was never the bubble here.

It just started to grow when the mortgage market collapsed, so,
most of the growth is now Increased income and new population.

[Author]

Posts