Unless you live under a rock, you are well aware that we are in an extremely unique market right now. In 2004 the sun had shone brightly upon our real estate investments. Interest rates were low and sellers were getting top dollar for their properties. Four a couple of years we were able to bask in the warm glow of a robust economy. If you could fog a mirror, you could qualify for a home loan! Then the butterflies of spring drifted away while the economy slowly crept into a chilling Fall of foreclosures and rising interest rates. The oppressive heavy cloud-cover mixed with the pressure on the economy of the of defunct sub-prime loans and government bailouts is beginning to create what I would call a PERFECT STORM! With PRIME being at an all-time low of 0%, home prices are low and interest rates are approaching a record low since the Great Depression! In other words…if you have good credit, NOW is the time to BUY!!

In Oklahoma we have been blessed with moderate home prices. Unlike the east and west coast, our home prices did not ride the big real estate bubble pricing. Hence, when the bubble burst, our local Oklahoma City area market was not affected like these east and west coast inflated market s. So home pricing has remained fairly stable, although it prices are down slightly. Make no mistake, even in Oklahoma it is a buyers market, but unlike the oil bust of the 1980's home prices are still holding stead.

What this means is that it is not only a good time to buy a home, but it is also a good time to sell a home. The low interest rates makes your home much more affordable for buyers, and when you get ready to find your next home you also get to take advantage of these low interest rates. And th pricing you receive for your home will be fair. You won't feel like you won the lottery, but the pricing in Oklahoma is stable and fair for both buyers and sellers.

According to Kenneth Wohl with Spirit Bank, the rates are fluctuating hourly, ranging right above and below 5%. "I’m now seeing rates hit multi-year lows not seen since 2003!" says Kenneth. "We a great inventory of builder spec. homes as well as existing homes and with the rates under 5% your monthly savings is tremendous. For instance, 6 months ago someone could have bought a 250K home at 6.5% interest. If you were to purchase that same house today at 4.75% you would save $275/mo or had the possibility of buying a $300,000 for the same monthly payment!"

So be READY to take part in this perfect storm and welcome the rain! It's a good time to sell your home AND a good time to BUY!