Yes, we all watch the daily news, read the newspaper and internet stories about how bad the nation's economy is. Darryl Baskin, myself and many others in the industry were at a lucheon recently, and there was a wonderful idea presented by the speaker. "Why doesn't everyone just kick back and take a news break?" That sounded like a great idea. I try to do it as often as possible on weekends, where I don't have to worry about markets and rates. It's relaxing and you should all give it a try!
On January 21, 2009, Forbes came out with a report that touted Tulsa as the 6th strongest housing market out of the top 25 in the nation! Now that's the kind of news we all need to hear! Tulsa has the top ranked Chamber of Commerce in the US, and the Tulsa Chamber recently won an award from the National Chamber for that honor. Tulsa continues to chug along, much like the tortoise from the children's folklore story "The Tortoise and the Hare." Remember who won the race?
As I have mentioned before, we have not seen the tremendous gains or declines in property values seen in other parts of the country. Tulsa continues to be a very stable city, and there are so many great things happening here, literally too many to name. Yes, Forbes predicted that the Tulsa MSA may lose an average of 1% or so during the remainder of 2009, but that certainly beats the national average decline in real estate values- already proven to be 15%. Also, keep in mind that it is only their estimate, and it will certainly not impact all areas around our city. Investing in a home in the Tulsa market is a solid one, and many say it is a better way to save money than mutual funds, stocks or bonds. The investment should remain fairly stable and it is indeed a tangible asset that you can maintain as you watch the equity grow and your mortgage balance shrinks through the years as you approach retirement.
As for mortgage rates, they are at historic lows and the continuance of the present levels looks very favorable indeed.
Should you have questions about rates, home financing or refinancing, please contact one of our residential mortgage officers to discuss your investment in Tulsa real estate; you can contact me any time-I'll be happy to help.
Have a wonderful week and by all means, take that occassional "news break!"
Jeff Sargent
President-Residential Mortgage Divison
ONB Bank & Trust Co, Equal Housing Lender, member FDIC
918.481.6833
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Tulsa named best place to live in the U.S.
The country's best-kept secret is out. Relocate America has declared Tulsa the No. 1 place to live in the U.S.
Relocate America's TOP 100 Places To Live! list is compiled using data regarding local economy, housing, education, employment, crime, parks and recreation, and other statistics used to make home-buying decisions.
Communities around the country are nominated by residents, and information is submitted about neighborhoods, the city's beauty, quality of schools, recreational activities and economic growth. The TOP 100 Places to Live! list is published annually.
"This ranking corroborates exactly what the Chamber uses to sell the Tulsa region 365 days of the year," said Mike Neal, president and CEO. "We are fairing much better during the national recession than many of our peer cities because of our diversified industries, quality of life and cost of living."
The Chamber is using this ranking and others like it to tell Tulsa's story. The region is experiencing resurgence due to investments made by the community in Vision 2025, streets, Four to Fix the County, education and private business.
Tulsa has also been identified as the fifth best city in the nation to ride out the recession, according to Forbes.com.
"We have one of the strongest real estate markets in the country, and Tulsa is experiencing job growth other cities are not during this national recession," said Bob Ball, economist for the Chamber. "Additionally, our cost of living is 11.5 percent below the national average. When you consider all of this quality of life data, Tulsa is an attractive community to both businesses and relocating families."
To view the Top 100 Places to Live!, visit RelocateAmerica.com.
Top 10 Places to Live
Tulsa, Okla.
Dallas-Ft. Worth, Texas
Pittsburgh, Penn.
Raleigh-Durham, N.C.
Huntsville, Ala.
Houston, Texas
Albuquerque, N.M.
Lexington, Ky.
Little Rock, Ark.
Oklahoma City, Okla.
Reprint of article from Tulsa Metro Chamber of Commerce Apr 28, 2009
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