How will we find a home when they are so few available?!
If you're thinking about buying a home but worried about the low inventory, you're not alone. Many buyers are asking: "How will we find a home when there are so few available?" The good news is, there are ways to find hidden opportunities, even in a tight market. Here’s what the Justiz League Real Estate Team focuses on for our buyers:
1. Loosen Your Search Parameters
Flexibility can open up new possibilities. For example, if you’re set on a 3-bedroom home, consider looking at 2-bedroom homes with a bonus room that could be converted into a third bedroom. You might be surprised at what options become available with a slight adjustment to your criteria.
2. Off-Market Finds
Not every home for sale is listed online. By tapping into our strong local network, we uncover off-market homes being sold by word of mouth—giving you access to properties others might miss.
3. Expired Listings
Homes that didn’t sell when previously listed can still be available. We proactively reach out to see if the homeowners are open to selling, offering you another option in a competitive market.
4. Homes Not Yet for Sale
Sometimes, a home isn’t listed today, but that doesn’t mean it won’t be soon. In low-inventory markets, we’ll send letters to homeowners in neighborhoods you’re interested in, potentially finding homes that haven’t hit the market yet.
Conclusion: We’ll Find a Way
Even in a challenging market, there are strategies to find the right home. If you're ready to start your search, reach out to the Justiz League Real Estate Team—we're here to help you find your next home!
This is What Most Home Buyers Are Looking For
If you're thinking about buying a home in the next year or selling one soon, here’s something important: Most buyers are looking for one key thing—NO SURPRISES.
When buyers tour homes, they don’t want to be caught off guard by hidden issues or repairs that need immediate attention. They want a property that feels well-maintained, move-in ready, and transparent. If you’re planning to sell in the next few months, this is your sign to get your home into shape.
Here’s what the Justiz League Real Estate Team suggests to ensure your home appeals to today’s buyers:
Evaluate Major Systems – Buyers expect core systems like HVAC, plumbing, electrical, and the roof to be in good working order. Address any issues upfront to give buyers peace of mind.
Fix Minor Repairs – Even small things like leaky faucets, creaky doors, or loose cabinet pulls can give the impression that the home hasn’t been well cared for. Taking care of these little fixes can make a big difference in the eyes of a buyer.
Refresh Paint – A fresh coat of paint can breathe new life into your home. Light, neutral colors like white or light gray brighten spaces and make rooms feel clean and updated.
Spruce Up the Yard – First impressions matter. Trimming overgrown shrubs, laying fresh mulch, and tidying up the yard can drastically improve your home’s curb appeal and set the tone for what’s inside.
Deep Clean or Replace Carpets – Clean, fresh carpets or flooring are a must. Consider replacing any heavily worn carpet to create a more inviting, move-in ready feel.
Declutter and Depersonalize – Buyers want to picture themselves living in your home. By decluttering and removing personal items, you create a neutral canvas that helps them imagine the space as their own.
These simple steps can set your home apart from the competition and help you achieve a smooth sale. Remember, buyers are looking for transparency, and when you present a home that feels well-kept and cared for, you build trust with potential buyers.
Thinking of selling soon? Let the Justiz League Real Estate Team guide you through the process, ensuring your home is buyer-ready and positioned to sell quickly. Reach out today to get started!
Does It Make Sense to List My Home This Year in Oklahoma?
As we enter the final stretch of 2024, many Oklahoma homeowners ask, "Is it still a good time to list my home?" The answer is: Absolutely!
Low Inventory and High Demand
Housing inventory remains low, well below historical averages, keeping the market in sellers’ favor. In Oklahoma, this trend is evident across both urban and suburban areas. Less competition means quicker sales and stronger offers for you.
Mortgage Rates Are Boosting Buyer Interest
Recent drops in mortgage rates have significantly increased buyer purchasing power. Buyers who’ve been on the sidelines are now re-entering the market, eager to take advantage of lower rates. For every 1% drop in rates, home prices can increase by 5-10%, which means listing now could help you sell for a higher price.
Oklahoma’s Market Advantage
Nationally, the median home price is around $430K, and while Oklahoma trends a bit lower, the state’s affordability and steady appreciation make it attractive to both local and out-of-state buyers. This could work in your favor if you list soon.
Is There Time to Sell?
Yes! Even though we’re approaching the end of the year, the Oklahoma market stays active during the winter months. Motivated buyers, especially with improved affordability, are still looking to close deals before year-end.
Local Factors Matter
While national trends support selling, local factors like job growth and neighborhood appeal play a crucial role in Oklahoma’s market. The Justiz League Real Estate Team is here to help you navigate these specific elements to make the best decision for your home.
Conclusion: Now is a Great Time to Sell
With low inventory, favorable mortgage rates, and ongoing demand, listing your home before 2024 ends could be a smart move. Don’t wait—there’s still time to capitalize on this market!
Contact the Justiz League Real Estate Team today to discuss your options!
How Oklahoma Homebuyers Are Cashing In on Low Mortgage Rates Right Now
With mortgage rates in Oklahoma hovering around 5.88%, homebuyers are capitalizing on historically low borrowing costs, helping them achieve significant long-term savings. According to Freddie Mac, although rates have increased slightly in 2024 from the historic lows seen during the pandemic (where rates were as low as 2.65%), they are still well below the average of over 7% that was common in prior decades.
For homebuyers, especially first-timers, these current rates offer an opportunity to lock in affordable monthly payments that can lead to significant financial savings over time. For example, securing a fixed-rate mortgage now could save Oklahoma buyers thousands of dollars in interest over the life of their loan, compared to when rates inevitably rise again.
Why Buyers Should Move Fast
Experts are cautioning potential buyers to move quickly as rates could rise in response to inflation or economic adjustments by the Federal Reserve. Locking in a rate now could mean the difference between affordable homeownership and more costly mortgage payments down the line. With the median home price in Oklahoma sitting around $249,700, many buyers can leverage today’s rates to enter the market affordably. Furthermore, Oklahoma’s comparatively low cost of living adds even more incentive to secure property in this rising market while rates remain competitive.
Tips for Leveraging Low Rates:
Shop Around: Compare offers from different lenders. Even small differences in interest rates can add up to large savings over a 30-year loan.
Get Pre-Approved: In a competitive market like Oklahoma, pre-approval can give you a leg up on securing the home you want before rates rise.
Consider Refinancing Later: If rates drop further, consider refinancing to secure an even lower interest rate, reducing your long-term costs even more.
Experts Weigh In
Mortgage experts from Zillow and Freddie Mac suggest that while rates could increase due to economic factors, the current environment remains favorable for buyers. In Oklahoma, the combination of low rates, a strong economy, and affordable housing options makes this an ideal time for buyers and investors to make their move before conditions change.
In conclusion, with Oklahoma's low mortgage rates and stable housing market, now is a strategic time to invest. For those looking to make the most of these opportunities, the Justiz League Real Estate Team is here to help you navigate the market and lock in these beneficial rates.
Sources:
Freddie Mac Mortgage Rates Data
Zillow Oklahoma Market Insights
Houzeo Oklahoma Real Estate Market Data
Is the Oklahoma Real Estate Market About to Boom? Here’s What Experts Are Saying!
The Oklahoma real estate market is experiencing a steady but encouraging shift. According to recent data, housing inventory has increased by over 21%, giving buyers more options to choose from. The median home price in Oklahoma now sits around $249,700, with home values steadily increasing. Experts expect new home construction to pick up due to steady demand, supported by the state’s affordable living and strong job market.
Mortgage rates also play a significant role in this market shift, hovering around 5.88%. While slightly higher than in previous years, they remain accessible, especially for investors looking to capitalize on Oklahoma’s growing appeal. The state’s thriving economy, a population that’s steadily increasing, and a cost of living below the national average continue to attract people and businesses alike, adding fuel to a market that could very well be on the verge of a boom.
Several cities, including Oklahoma City and Edmond, are hotspots for investment, offering affordable housing options and potential for future appreciation. With businesses expanding and communities thriving, the state’s real estate market holds promise for those looking to invest.
Investors looking for long-term gains should seriously consider Oklahoma as a prime market. Whether you're interested in commercial properties, rental homes, or land for development, now is a great time to act. For those seeking personalized guidance on how to make the most of the market’s opportunities, reach out to the Justiz League Real Estate Team to help navigate your investment journey.
For further insights, you can check the source here (Houzeo).