HOME PRICES CONTINUE TO GAIN!



U.S. single-family home prices rose in November, building on a string of gains that points to a housing market that is on the mend, data from a closely watched survey showed on Tuesday.

The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.6 percent in November on a seasonally adjusted basis, in line with economists' forecasts.

"Housing is clearly recovering", David Blitzer, chairman of the index committee at S&P Dow Jones Indexes, said in a statement.

Prices in the 20 cities rose 5.5 percent year over year. It was the 10th month in a row that prices have increased, the longest string of gains since before the market started to turn down in 2006.

The housing market became a bright spot for the economy last year as prices rose and inventory tightened. The sector is expected to contribute to economic growth in 2013.

Information taken from a NBC News article.

HOME PRICES POST BIGGEST ANNUAL JUMP IN 2 YEARS!

The recovery in the housing market continues to pick up steam, as home prices posted the biggest percentage gain in more than two years in the latest reading of the closely followed S&P/Case-Shiller index.

This latest rise comes as the housing market has shown numerous other signs of recovery in recent months. A combination of near record-low mortgage rates, lower unemployment and a drop in foreclosures to a five-year low means there are more buyers interested in purchasing fewer available homes. That in turn has lifted prices.

To read the complete CNN article CLICK HERE.

TULSA HOME & GARDEN SHOW 2012

March 8-11, 2012

The Greater Tulsa Home & Garden Show is Oklahoma's largest and longest-running home and garden products trade show, with more than 450 exhibitors. For a one-stop shopping experience for everything you need for your home, garden and so much more, it is the one home and garden show not to miss!

For more information CLICK HERE.


Our real estate website TULSA4U.com.

CRAZY LOW RATES!

Rate on 30-year mortgage stays at record 3.87%

The average rate on the 30-year fixed mortgage held steady at a record low for a third straight week, offering more incentive to those looking to buy a home or refinance. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year home loan was unchanged at 3.87%. That's the lowest level since long-term mortgages began in the 1950s. The average on the 15-year fixed mortgage was also unchanged at 3.16%. That's up from a record low of 3.14% reached two weeks ago.

The low rates have done little to boost the struggling housing market. Rates have been below 5% for all but two weeks in the past year. Yet few people can qualify for the rates and many of those who can have already done so.

Information from USA Today Housing Article dated 2-16-12.

HOMES THAT ROCK!

Blending a home with the natural elements and materials of its environment is one of the foundations of organic architecture, but the process can present challenges when said natural elements are sheer cliffs, massive outcroppings and protruding boulders.  However, REALTOR.com has identified five architectural wonders that buck conventional trends and conform to the tumultuous terrain. Each design is as uncommon as the next, but each shares one distinctive trait: they are homes that rock.

16 TIPS ON PREPARING YOUR HOME TO BE PHOTOGRAPHED

We hire OBEO to do our photography on our new listings. They are professional and do a wonderful job putting a home's "best foot forward."  With all the online marketing that we do as real estate professionals, quality pictures are more important than ever.  OBEO recently put together a list of tips on preparing your home to be photographed for marketing.  Below you will find an exert from that article.

1. Have the lawn mowed, leaves raked, bushes trimmed.

2. When in season, flowers can add a gorgeous pop of color.

3. Remove all vehicles from the driveway and front of the house.

4. Make sure all garbage cans, hoses, garden tools etc. are put away.

5. If you will be doing any twilight photos, be sure to check all outdoor lights and change dim or broken bulbs.

6. Remove any “cute” yard decorations the owner may have put out.

7. Remove any “clutter” inside the home, and put away toys, clothing, dishes, towels, etc.

8. Make the beds.

9. The counter tops in the bathrooms and kitchen should be as clean and as empty as possible.

10. Make sure the kitchen sink is empty and all dishes are put away.

11. Hide the trash cans.

12. Hide personal photos.

13. Replace any light bulbs that are out.

14. Remove any decorations or magnets that are on the fridge.

15. Before the photographer arrives, turn on all lights and open all blinds in rooms to be photographed.

16. Put all the toilet seats and lids down.

CLICK HERE for full article.

QR CODES...WHAT'S THE POINT?

QR Code to The Butler Team's Website

Consumers want immediate access to what’s relevant

and QR codes are being used to make that possible.

If you’re not yet familiar with QR codes, they’re similar to the barcodes used by retailers to track inventory and price products at the point of sale. The key difference between the two is the amount of data they can hold or share.

Bar codes are linear one-dimensional codes and can only hold up to 20 numerical digits, whereas QR codes are two-dimensional (2D) matrix barcodes that can hold thousands of alphanumeric characters of information. Their ability to hold more information and their ease of use makes them practical for small businesses.

When you scan or read a QR code with your iPhone, Android or other camera-enabled Smartphone, you can link to digital content on the web; activate a number of phone functions including email, IM and SMS; and connect the mobile device to a web browser.

So...download a QR Code app & scan the symbol above & you'll immediately be taken to our real estate website!

TULSA AREA EMPLOYMENT OUTLOOK TIED FOR 5th BEST IN THE NATION!

The Tulsa area's employment outlook for the first quarter of 2012 is tied for fifth best in the nation, according to the latest results of the Manpower Employment Outlook Survey.

Read more from this Tulsa World article HERE.

HOUSING STATS JULY 2011

July 2011 has seen some improvements over last July!  Closed listings are up 30% and Pending listings are up 24%!  Average days on the market is only 60 days.  Since 2007 it's stayed between 51 & 56. For additional stats and trends click here.

SHORT SALES: Buyers & Sellers Find Process Frustrating

Short sales are among the most arduous real estate transactions, often taking six months or more to close -- if they get done at all.

They can be a life raft for distressed homeowners who owe more on their houses than what they're worth, but the experience depends on a variety of factors, such as the number of lenders involved and whether there's a hardship, mortgage insurance attached or whether the buyer has the patience to stay with the process. A short sale occurs when a lender agrees to accept less than what the homeowner owes. The transaction requires that the homeowner has a financial hardship.

 

Homes with more than one mortgage and mortgage insurance tend to take the longest. A growing reason short sale deals fall through or take longer is because of mortgage insurance purchased after the homeowner closes on the deal and the loan is later sold to other lenders and investors. Often, the bank holding the first mortgage isn't made aware that the second mortgage had been insured until the end of the process, even if both loans are with the same lender. If the mortgage insurance company doesn't sign off on the deal, the process starts over again.

 

These kinds of delays mean buyers walk away because of the time and frustration involved.

 

Pitfalls Abound

The federal government's program to streamline short sales -- know as the Home Affordable Foreclosure Alternatives Program -- has yet to gain traction because it doesn't allow the lender to collect on the home's deficiency.

Many Realtors avoid short sales because they can be so difficult, including Michelle Chappell, an agent with Real Living John Burt Realty in Oxford. She sold a home this spring that took eight months to complete. "This was the last one I sold. I said no more. I won't do it," she said. "They are just heart-wrenching for these buyers." Chappell said the buyers looked at 80 houses before seeing "the one. Whatever bad could happen in this deal, happened," Chappell said. "I don't see any change in short sales. I don't understand that. There should be some kind of general process that everyone goes through. It just differs from bank to bank. It's almost as if they are throwing curves in there."

To read the full USA Today story by Greta Guest, click here.