Thursday, May 29, 2008
What's the Deal?
Weekly, I'll be writing a What's the Deal column for this blog. This week's What's the Deal will address the national real estate "experts" that are quoted or interviewed on national news programs. First off, remember that the three most important things in real estate are: location, location, location. The most quoted index currently is the S&P Case-Shiller Report. The Standard & Poor's/Case-Shiller nationwide housing index focuses on major metropolitan areas and includes expensive properties as well as cheaper ones. The S&P/Case-Shiller indexes use only purchase prices gathering information from county assessor and recorder offices. Now the interesting thing that YOU will want to remember, the Case-Shiller report doesn't collect ANY information from Oklahoma! Location, location, location! The closest city that they gather information from is Dallas. Now think about this, if you had just been hired by Oklahoma State would you go home shopping in Dallas? So you might ask, what's the deal with all the news channels reporting that the housing market is terrible, down 14% this year, etc? Well, the deal is, in some cities during the past 10 years there have been huge upswings in value. Some markets are very volatile while some markets are more steady. Since the early 80's, Oklahoma has had a very steady real estate market. If you are wondering about the Oklahoma market you can navigate to www.whyrealtorswork.com and get current information regarding the Oklahoma market. If you would like information about the Stillwater market, drop me a note and we'll subscribe you to our monthly newsletter that includes the most current information regarding Stillwater's sales and listings. Need more information about your subdivision? Let me know and I'll get you overloaded with information........Doug@ERAStillwater.com