Your OKC Real Estate Update - Spring 2021

I have some exciting news to share!

The local real estate market in the OKC Metro is the most active I have ever seen in my career.  I’ve heard concern that this is a 2008-2009 bubble repeat, but that’s simply not true. Loan standards are high- which means this is a result of real buyer demand! 

We are seeing so many great things happening in our local real estate market! Are you ready to get in on this?

Here’s What This Means for You: 

In April of 2020 there were 7,963 active homes for sale in our local MLS, in April of 2021 there were only 4,286 on the market. Those numbers are staggering and prove just how much demand exists in the market right now, and just how few homes are available. That’s a 54% decrease in available homes. 

Buyers are looking for homes NOW! They want your home!

Recently we just helped a buyer secure a 3% on a 30-year loan!!  They were 18% in the 1980’s!

Buyers are desperate to find their next home. Many of them will go to extremes to make a sale happen!  If you choose to sell this spring or summer, you will likely get the highest price expected.

This could be huge for you! I may already have a buyer who would be interested in buying as soon as it hits the market.

Give me a call at (405) 476-9600 or reply to this email. I’d love to chat! 

Take a look here to see what your home is actually worth.

This tool is free for you to use, but provides valuable insight into what your home could sell for today. 

Sellers’ #1 Concern:

I hear sellers who are excited to sell and stand to make lots of money on their home. Their biggest concern is wondering if there will be a home available for them when they sell. They fear being left in a difficult position. 

Many of our preferred lenders offer a recast. This simply means that qualified buyers can make a non-contingent offer by keeping their primary home and purchasing a new home.  Buyers have the option to make a  minimum down payment on their new home. 

Once you sell your primary home and have made two mortgage payments on your new home, you can take the proceeds from the home you just sold and put it down on the new home.  Your rate and term stay the same but the beauty is your monthly payment will be lowered. It is basically a refinance that only costs around $300! 

To avoid the fear of being outbid on your dream home, our amazing lenders can help you to be pre-approved versus prequalified. What is the difference? Prequalification is based off of your credit score and what the applicant says their income is. A pre-approval will request all of your income documentation, assets, and will submit them to an underwriter.  

Once conditionally approved, the underwriter will issue a pre-approval letter. This would be more attractive to a seller to know that your income and assets have actually been verified by an underwriter. 

Give me a call at (405) 476-9600 or reply to this email. I am passionate about helping you sell quickly AND find your dream home. I can explain this in more detail and discuss your options! 

Let’s keep in touch! I love sharing about all the things happening in our local market. 

You can follow along here to see the latest updates along with some great tips for around the house: https://kathleenforrest.com/blog

I can't wait to be in touch soon! I’m excited to share what this exciting year has looked like and what we look forward to in the remainder of 2021!

Photo by The Lazy Artist via Pexels.com.