Is Now The Time To Buy A Home on Grand Lake or Grove, OK

Many recent indicators would make one think that now could be the time to buy a retirement home on Grand Lake or Grove, OK, a popular retirement area in NE Oklahoma. On December 29, 2009 the Case Shiller home report showed the national home price in the index up slightly for the month of October. The report showed national prices still a little over 7% lower than October of 2008. The low price in the index came last May and is up 3.4% from that low nation wide. Nation wide home prices are still 30% below the peak in 2006 but we all know much of this damage was in Califorinia, Nevada, and Florida were prices since 2004 had skyrocketed often up 30% or more in one year. Looking back, anyone who has looked at any market would have to know housing prices could not sustain this kind of runup in pricing in one year.

The Grove, OK/Grand Lake area has seen steady but slow price increases over past years and been flat since late 2006. Since the prices did not skyrocket up they will not go down drasticly either. With national home prices starting to recover and our national ecomony upticking slowly we look for 2010 to see modest growth in home sales in the Grand Lake area and Grove, OK the largest city on the lake.

Another reason to think buying now if you will be financing your home is interest rates. Nearly all economist seem to agree that interest rates will go up in 2010 and home loan rates could very easily go from 5% now to 6%+ during 2010.

My last reason is timing historically to get a best buy and that time in lake country is winter. You will always find a better deal during the off season.

Bottom line if you are thinking retirement, I would not put off buying that home whether it be a golf course home at Patricia Island Estates or The Coves or a waterfront home in one of the many fine areas around the lake or a residential home in Grove close to the new 58 million dollar hospital and post office in the Littlegate Addition. There are many great choices for that retirement home with prices starting just under $100,000 and going up.

The Grand Lake Team of Aaron Hughes and Joe Neill at RE/MAX Grand Lake would appreciate the opportunity to be your realtor whether looking for a retirement home or second home at the lake. For Aaron call 918 801-5645 or or for Joe call 918 640-3300 or We know the area and can make your search more inclusive, less stressful, and fun. We hope to hear from you soon.