Real Estate Market

Today, I am just going to paste in the following I just received in an email from our local board of realtors passing on a press release on national home sales. It looks good. If you have been on the fence regarding buying a home, I would not delay. First time buyers have until end of November to close on home for an $8000 tax credit, this also applies if you have not owned a home past three years. Below is what I received.

Uptrend Continues in Pending Home Sales –Pending home sales are up for the fifth consecutive month. NAR’s forward-looking Pending Home Sales Index for June indicates signed contracts rose 3.6 percent to an index level of 94.6 from an upwardly revised reading of 91.3 in May. The last time there were five consecutive monthly gains was in July 2003.
“Historically low mortgage interest rates, affordable home prices, and large selection are encouraging buyers who’ve been on the sidelines,” says Lawrence Yun, NAR chief economist. “Activity has been consistently much stronger for lower priced homes.” Yun says households thinking about buying should act soon to take advantage of the $8,000 tax credit for first-time buyers, because they must close on the sale by November 30, which is when the credit expires. wned a home in past 3 years.

For homes in the Grove/Grand Lake area call the Grand Lake Team at RE/MAX Grand Lake in Grove. Aaron Hughes at 918 801-5645 or or Joe Neill at 918 640-3300 or

We have a good selection of homes at attractive prices both in Grove and around the Grand Lake area.