The housing values in Oklahoma City move up slow and steady. Last year was about 4%. Forbes ranked Oklahoma City #1 most recession proof. I suggest that you buy a house when you feel ready. Don't try to time the market.

I recommend sitting down and figuring out how much you can comfortably afford a month, talk to a good direct mortgage lender and get pre-approved. Next, find a Realtor that can sit down, consult with you, and figure out exactly what your needs are. Then find a house!

Wed Jun 11 2008, 14:28

Congratulations on your upcoming wedding! Peter is correct. Number one reason not to wait... no one can predict the market... and the OKC market is still doing well. Right now is still a great time to buy in Oklahoma ... Interest rates are still down and home prices are low. If you are ready to buy, why waste your money and throw it away towards rent when you can be earning equity in your home. If you have any questions you can reach me at 405.603.7443 or email me at Jennifer@dobsonmetrorealty.com. I would be happy to start sending you some listings of our market.

Thu Feb 21 2008, 08:30

Buy!
Here are the reasons:
1) If you are buying to live in the house for several years, it's very difficult to time the market perfectly ,it can lead to analysis paralysis and it's not necessary.
2) You are fortunate to be in one of the most stable real estate markets, the Oklahoma City has been very proactive in business attraction, river development (unlike Tulsa, *sigh), it's an excellent area to invest. You are seeing on the news mostly national real estate news, some areas ravaged by overspeculation and investors all trying to sell at the same time, and expensive areas where many people bought houses they couldn't afford.
3) Interest rates are the lowest in three years, so you can buy more house.
4) The alternative is renting for one more year.
5) If you need more reasons, email me!

Tue Jan 15 2008, 10:17

Hi Tracy. I've been doing some homework on the Oklahoma City market - focused mainly on Edmond; so my response will have that bias. It looks like Oklahoma City's Real Estate market has held up well compared to the rest of the nation. Part of the reason is that new home construction has slowed down tremendously, meaning that the supply of houses has not outpaced demand. From a home buyer perspective, it looks like there will be bargains - just not the steep bargains that can be found in some of the hardest hit cities.

IMO, you should get yourself pre-qualified to buy a home and then begin looking for housing in your price range. After several weeks, you will know a lot about which homes are real bargains and which might be overpriced. By the time your lease is up, you will have a better hands-on feel as to whether you should buy or not. Also remember that you will be in the driver's seat for negotiating since you will be able to make an offer straight-up versus other people whose offers will be contingent on the sale of their house.

Thu Jan 3 2008, 11:05