NE Oklahoma Real Estate Prices As Of October, 2008

Every morning while eating breakfast I read the Tulsa World newspaper. Of course the first section I go to is the obituaries page to see if I died the night before. Then I go on to the news of the day. Today, October 30,2008 on page one is a story on home prices in Tulsa, OK. Robert Evatt, the writer quotes a company named Veros, who does an annual study of home prices for all major cities in the nation. Tulsa, is the fifth strongest market in the nation and predicted to have home prices rise 2.8% over the next year. From September 2005-September 2007 home prices in Tulsa rose 5.4%. The strongest market is Peoria, Illionis with a predicted increase of 3.9%. The weakest market listed is Las Vegas with a -17.3% in value. Other weak markets were in Florida with drops from 14.7-16.4%.

The midwest market and Oklahoma market in particular did not ever rise at the double digit pace Nevada and Florida did and with a strong state economy the homes now continue to rise in value while other areas of the country are depressed.

What does this all mean. I believe if you want to sell a home in Florida or California, or Nevada, go ahead and do so, take your loss, and you will still in most all cases replace the home in Oklahoma cheaper than you sold. If you live in Oklahoma and want that second home on the lake, retirement home at the lake, or want to move up on your home you can and feel safe your investment is secure.

Grand Lake is only a little over an hour’s drive from Tulsa and shares much of the same market temperature whether hot or cold as Tulsa. Grove, OK is the largest city on the lake and has many nice home developments such as Patricia Island Estates, Buffalo Shores South, The Preserve, and Wildwood Farms to name a few. Monkey Island is a great area of weekenders and full timers with nice home devvelpments such as The Villas, Pointe Marin, The Chateaus, Brighton Bay, and St. Andrews to name a few. South Grand Lake is home of The Coves and The Points, both upscale housing developments. All these areas have waterfront and waterview homes. Some have golf course lots. There is something for everyone and every price on Grand Lake. It is a great place for that second home or retirement.

At the top and side of this page are buttons for MLS listings in the Grand Lake area and our Featured Listings button to check out some special listings. Contact Aaron at 918 801-5645 or Joe at 918 640-3300 for more info. We are the Grand Lake Team at RE/MAX Grand Lake in Grove, OK.