Saturday, October 12, 2013

"A Taste of Grove" Venders at Grove, Oklahoma event, October12, 2013

"A Taste of Grove, OK"
Pictures taken October 12, 2013

 Produce venders every Saturday and Wednesday downtown Grove, OK
 The city had a number of food trucks from Tulsa and surrounding areas
feed a large crowd October 12, 2013.
Some ran out of food......



 Lots of craft booths at this event.


 Nice day in the 60's  for the family to be out on a Sat. afternoon.


 War memorial honoring our service men and women.
 Lawn in front of City Hall was a great place for this event.
 Sitting down to a good meal plus clowns for the young at heart.

Thursday, October 10, 2013

Economic and real estate update for Grand Lake, Oklahoma

Economic and Real Estate update

October, 2013


U.S. Foreclosures drop 34% over last year.

During August of 2012 there were 72,000 foreclosures.  August of 2013 there were 48,000.   During August there were 1,000,000 U.S. Homes in the pipeline for foreclosure.  That is a reduction of 33% from the previous year. The number of homes starting on the path to foreclosure dropped to a 7 year low in the 3rd quarter of 2013, declining to 174,266 units.

Mortgage interest rates.

Mortgages are holding near 4.5 % as the Government shut down enters its tenth day.  Lenders, to their credit, seem to be taking the political mess in stride and assume Washington will get their act together before any serious damage is done.


The National Association of Home builders says housing will strengthen in 2014.

“The cards are in play for a decent and fairly strong recovery in 2014 and particularly in 2015,” Says David Cook, chief economist for NAHB. “From the standpoint of GDP growth, housing has been a plus growing at two, three and four times the rate of the rest of the economy in recent quarters.”  “we expect to see price increases moderate in the next few years as we see additional inventory on the market and investors back away as the bargains disappear,” Crowe said.

NAHB made some of the following projections in housing starts:

·       Housing starts in 2013 are projected to reach 924,000, up 18% from last year

·       Single family housing starts are expected to rise 17% this year and 31% next year

·       Multifamily starts are expected to rise 20% this year and 10% next year.

Source:   National Association of Home Builders.

New Baths and RV dump at Wolf Creek

American Housing Survey

·       U.S. homeowners paid a median price of $110,000 for their homes in 2011, up 2.3% from the $107,500 reported in 2009

·       The median purchase price of homes constructed in the last four years was $235,000, down 2.1% from 2009

·       The median monthly mortgage payment was $1,015 in 2011



MLS statistics for NE Oklahoma including the Grand Lake area
  1. # of active listings declined to 1034 from 1210 one year ago
  2. New listing added last month were 119, a 16.2% drop from a year ago
  3. 77 homes were under contract compared to 58 a year ago
  4. closed listings were up 16% from a year ago.  87 sold in September
  5. There were 15.21 months of inventory, a -17% change from 2012
  6. Average sales price of homes in Sept was $177,629, down 5.86%