Buying and selling

The Tulsa real estate market is a seller’s dream, and it has never been easier to buy.



If you’re considering selling your home in 2016, it could be your year. Real estate and mortgage experts predict that high demand for homes will make this the “Year of the Seller” in Tulsa.

Sellers could see multiple offers due to lower inventory, says David Momper, a Realtor at Coldwell Banker Select and the Oklahoma Association of Realtors’ 2015 Realtor of the Year. 

“We’re pretty enthusiastic about the year,” Momper says. “The words we’re saying a lot are ‘stable growth.’ It’s not going to be barn-burner great, but I think it’s going to be a good year.

“It’s a seller’s market, and some buyers are frustrated with the lack of choices, so we’re seeing multiple offers. Anyone thinking about selling a home should look at (discussing it with a Realtor).” 

Tulsa’s economy is in “fairly good shape,” but some Realtors are concerned about the impact of the energy industry due to rock-bottom oil and gas prices, Momper says.

“Some are scared the jobs will start falling off,” he says. “But on the flip side, cheap oil is creating stronger purchasing power for a lot of people, and a lot of businesses are more profitable because they’re not paying those high energy prices.”

Mortgage rates have been on the lower end for years, below 4 percent, says Julie Griffith, senior vice president and regional manager for BOK Mortgage. But they creeped up past 4 percent at the end of 2015 and will probably stay between 3.75 percent and 4.25 during 2016, according to Griffith. 

As of Feb. 4, the average rates reported by Freddie Mac, or the Federal Home Loan Mortgage Corp., were 3.72 percent for a 30-year fixed rate mortgage and 3.01 percent for a 15-year mortgage.

“It’s typically a 10-year cycle on average of how rates go up and come back down,” Griffith says. “So, it takes time and it’s a gradual process. Mortgage rates are predicted to go up in the next 12 months to two years. It’s the hardest thing to predict. But if you’re interested, you’ll definitely want to buy sooner versus later to take advantage of lower rates.”

The good news is that getting a home mortgage isn’t too difficult, provided the buyer is qualified and knowledgeable. And first-time buyers have expanded options in recent years, thanks to programs designed to assist them.

Those include programs through the Oklahoma Housing Finance Agency and the City of Tulsa Housing Authority.

“Mortgages aren’t terribly difficult to get, but know that as a buyer you may have less negotiating ability in a seller’s market,” Griffith says. 

It’s also a better environment for buyers of second homes or vacation properties, Griffith says, because credit score requirements have loosened a bit. Now, less money down is required and buyers can use income from rental properties to qualify for a loan rather than using their primary cash flow.

No matter your specific situation, being prepared is the key to getting your dream home, according to Momper.

“Arrange your credit and be pre-approved and pre-financed, so that when you do see a home you want, you can act quickly,” he says. “You’re going to be very disappointed if you find a home you like but lose out because you’re not ready to act.”

And even though it’s a seller’s market, Momper says buyers are “smarter than ever before.”

“Sellers need to understand that buyers aren’t going to overpay, even though it’s a seller’s market,” he says. “Buyers are very educated because of technology and they know value.

“A seller has to have the property in excellent, marketable condition and have the right price.”

 

For more information about buying a home, contact the Oklahoma Homebuyer Education Association or visit www.homebuyereducation.info/homebuyers.htm.

 

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August 2019

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Senior Star Round-Up - August 18 - Cain's Ballroom - 2 to 5 p.m. The annual Senior Star Round-Up is Sunday, August 18, at the Cain's Ballroom, 423 N. Main Street in Tulsa. This popular...

Cost: $10

Where:
Cain's Ballroom
423 N. Main St.
Tulsa, OK
View map »


Sponsor: Senior Star Living
Telephone: (918) 664-9000
Contact Name: Emily Fox

More information

BROKEN ARROW COMMUNITY PLAYHOUSE Presents “The Wizard of Oz” (R.S.C.1987) By L. Frank Baum With Music and Lyrics by Harold Arlen and E. Y. Harburg Background Music by...

Cost: $22-$25

Where:
Broken Arrow Community Playhouse
1800 S Main St
Broken Arrow, OK  Broken Arrow
View map »


Sponsor: Broken Arrow Community Playhouse
Telephone: 918-258-0077
Contact Name: 74012
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

You're invited to our new store Grand Opening Celebration in Broken Arrow, August 21st for an all day event! As you know, this year marks our 30 year anniversary of serving business minded...

Cost: Free

Where:
Stow's Office Furniture
3604 S Elm Place
Broken Arrow, OK  74011
View map »

More information

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

Show More...
Show Less...

Sign up now for the Tulsa Area United Way's 9th Annual Golf Scramble – a local tradition that pairs an enjoyable morning of golf with helping your community.

Cost: $400 per team

Where:
LaFortune Park Golf Course
5501 S Yale Avenue
Tulsa, OK  74135
View map »

More information

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

  The biggest sporting event in history for Broken Arrow is set to happen on Friday, August 23rd. The event will take place outside in Downtown Broken Arrow near the intersection of...

Cost: $52.00

Where:
Downtown Broken Arrow
The intersection of Commercial and Main streets
Broken Arrow, OK
View map »


Website »

More information

Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

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Wings, Wheels & Wishes is a fly-in, car and bike show benefitting the Make-A-Wish Foundation of Oklahoma in loving memory of Collinsville Wish Kid, Bill Campbell. Our event features vintage...

Cost: Free to the public

Where:
Airman Acres Airport
12600 N. 73rd E. Ave.
Collinsville, OK  74021
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Telephone: 918-510-3423
Contact Name: Cindi Conner
Website »

More information

  Our 17th Annual CimTel Classic 5K is August 24, 2019! The registration begins at 6:30am and the race begins at 8am at Cleveland High School 600 N Gilbert Cleveland, OK. The entry fee is $25 for...

Cost: 25.00

Where:
Cleveland High School
600 N Gilbert
Cleveland, OK  74020
View map »


Sponsor: CimTel
Contact Name: Allee Pearson
Website »

More information

Featuring more than seventy works by French and European masters such as Degas, Manet, Monet, Rousseau and Van Gogh, this exhibition celebrates Mr. and Mrs. Paul Mellon’s extraordinary gift...

Cost: $15

Where:
Oklahoma City Museum of Art
415 Couch Drive
Oklahoma City, OK  73102
View map »


Telephone: (405) 236-3100
Website »

More information

Maker Faire Tulsa is an award-winning, family-friendly event celebrating technology, education, science, arts, crafts, engineering, food, sustainability, and making of all kinds. The 7th...

Cost: Free

Where:
Central Park Hall at Expo Square
1701 S Sandusky Ave
Tulsa, OK  74112
View map »


Sponsor: Fab Lab Tulsa
Telephone: 918-779-6025
Contact Name: Nathan Pritchett
Website »

More information

Maker Faire Tulsa is an award-winning, family-friendly event celebrating technology, education, science, arts, crafts, engineering, food, sustainability, and making of all kinds. In 2019, Fab Lab...

Cost: FREE

Where:
Central Park Hall @ Expo Square
4145 East 21st Street
Tulsa, OK  74114
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Bobby O’s Slices + Pies, located in the Meadow Gold District along Route 66, will host a day of meal deals, merchandise giveaways, and kids activities for their Back-to-School Bash. The...

Cost: Free

Where:
Bobby O's
1502 E. 11th St.
Tulsa, OK  74120
View map »


Sponsor: Bobby O's
Telephone: 918-586-2455
Website »

More information

Oh, Tulsa is a Living Arts biennial that celebrates visual, performance, literary, sound, video, and installation art for the Tulsa community. Eligible work includes: Tulsa residents, artists who...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
View map »


Telephone: 918-585-1234
Website »

More information

America’s LARGEST interactive comedy murder mystery dinner show is now playing at the Hilton Garden Inn Tulsa Broken Arrow! At The Dinner Detective, you’ll tackle a challenging crime while you...

Cost: 59.95

Where:
Hilton Garden Inn Tulsa- Broken Arrow
420 W Albany St.
Broken Arrow, OK  74012
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Telephone: 866-496-0535
Contact Name: The Dinner Detective
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DIVAS JUMP THE POND - THE BRITISH INVASION!! DIVAS 4 H.O.P.E. features live music from Tulsa’s diverse local artists along with cocktails, dinner, and one-of-a-kind live and silent auction...

Cost: $15,000 - $250

Where:
Assembly Hall - Cox Business Center
100 Civic Center
Tulsa, OK  74103
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Sponsor: Health Outreach Prevention Education, Inc.
Telephone: 918-688-5022
Contact Name: Kathy L Williams
Website »

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Help DVIS and the Tulsa Drillers knock out violence! We are in our 16th year of raising funds for survivors of domestic violence and sexual assault. Join us by pledging per home run or making a...

Cost: $1+

Where:
Tulsa, OK


Sponsor: DVIS
Telephone: 918-508-2709
Contact Name: Jenée Day
Website »

More information

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