Optimism pays off

The Tulsa real estate market is ripe for buyers and sellers.



2016 wasn’t a bad year for home sales, as far as Rodger Erker is concerned. 

Though the longtime broker at McGraw Realtors says he’s downright optimistic this year will be a great one for buyers and sellers alike.

“Over the last few weeks, we’ve had throngs of people looking at new houses,” Erker says.

Now that uncertainty in the minds of homebuyers over the election has evaporated and consumers have regained their confidence in the economy, Erker believes greater numbers of Tulsans will take the plunge with their first home or trade up to the dwelling of their dreams.

His top advice for buyers this year — sitting on the fence for too long could get costly, as the days of price stagnation are coming to an end.

“Prices may go up next year, maybe as much as 4 or 5 percent,” he says.

Those boosted prices will come largely due to supply and demand as more people look to buy. On top of that, the number of homes on the market isn’t expected to increase, which will give sellers more power to set higher asking prices. These homes should continue to attract multiple offers and sell quickly.

As a result, buyers will need to research homes in the area and ensure their offers will be attractive enough to be considered. 

However, Erker warns sellers not to get too aggressive because the overall market is expected to move closer to a balance between buyers and sellers.

“Sellers need to be very conscientious of pricing houses properly within the market,” he says. “If you try to blow up the price of your house compared to others in the area, it’ll just sit there.”

Sellers need to keep their homes in good condition, as most traditional buyers no longer want to deal with a fixer-upper, Erker says. It’s mainly investors who are in the market for homes that need improvement, and they generally look for bargains.

However, those hoping to buy some of the biggest, more luxurious homes in the area could run into unexpected deals. Erker says homes in the million-dollar range or higher have sold slowly, and some sellers might be willing to compromise.

“I know of over 100 homes in that range that are on the market right now, which is more than usual,” he says.

One other factor buyers of all stripes should brace themselves for — interest rates are expected to rise significantly for the first time in nearly a decade. The Federal Reserve is expected to raise the federal funds interest rate now that the country’s economy has stabilized, and interest rates for home mortgages are expected to follow. 

At least for now, Erker expects mortgage rates to nudge upward rather than skyrocket.

“I’ve read some predictions that they’d go up to 5 percent — though that’s still much lower than it had been in the past,” he says.

Getting a mortgage, at least in Tulsa, hasn’t been much of an issue, and that shouldn’t change, Erker says. Although banks are ensuring borrowers have the ability to pay back their loans, they continue to lend at a healthy rate.

“We’ve found relatively few people who are turned down,” he says. “If you’ve got a good credit rating and a decent job, you can get a mortgage.”

 

By the numbers

  • 2015 Closings: 13,650
  • 2016 Closings: 14,243

  • 2015 year-end inventory: 5,170
  • 2016 year-end inventory: 6,742

  • 2015 average days on market: 51
  • 2016 average days on market: 46

  • 2015 average sale price: $176,009
  • 2016 average sale price: $178,005

 

 

Source: Greater Tulsa Association of Realtors

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June 2019

The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
View map »

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

Cost: Free

Where:
Living Arts of Tulsa
307 East M. B. Brady St.
Tulsa, OK  74120
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Telephone: 918-585-1234
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BROKEN ARROW COMMUNITY PLAYHOUSE Presents “Godspell” 2012 Revised Version Conceived and Originally Directed by JOHN-MICHAEL TEBELAK MUSIC AND NEW LYRICS BY STEPHEN SCHWARTZ Originally...

Cost: $13-$18

Where:
Broken Arrow Community Playhouse
1800 S. Main St.
Broken Arrow, OK  74012
View map »


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

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Where:
Los Cabos - Broken Arrow
151 Bass Pro Dr
Broken Arrow, OK
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Where:
Los Cabos - Jenks
300 Riverwalk Terrace
Jenks, OK
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Where:
Hodges Bend
823 E 3rd St
Tulsa, OK
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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 »

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Cost: $5

Where:
Mercury Lounge
1747 S Boston Ave
Tulsa, OK
View map »


Website »

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Where:
The Colony
2809 S Harvard Ave
Tulsa, OK
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Website »

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Celebrate the life of James Joyce with readings, drinks, Irish music, and giveaways.

Where:
Downtown Tulsa
Tulsa, OK


Website »

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Where:
Guthrie Green
111 E Reconciliation Way
Tulsa, OK
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Website »

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Where:
Soundpony
409 N Brady St
Tulsa, OK
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Where:
Rabbit Hole Bar & Grill
116 S Elgin Ave
Tulsa, OK
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Where:
Hard Rock Casino - Track 5.
777 W Cherokee St
Catoosa, OK
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The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
View map »

More information

The Please Touch the Art exhibit breaks the rules of traditional art exhibits and makes art accessible, especially for visitors who are visually impaired or blind. Guests are encouraged to touch...

Cost: free & open to the public

Where:
McKeon Center for Creativity
910 S. Boston Ave.
TCC Metro Campus
Tulsa, OK  74135
View map »


Sponsor: Tulsa Community College
Telephone: 918-595-7339
Contact Name: Cindy Armstrong

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

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

Think you can't do something? Think again! Step out of your comfort zone and try something new at the I Can't workshops this summer, featuring all new community partners.

Cost: Free & open to the public

Where:
McKeon Center for Creativity
910 S. Boston Ave.
TCC Metro Campus
Tulsa, OK  74119
View map »


Sponsor: Tulsa Community College
Telephone: 918-595-7339
Contact Name: Cindy Armstrong
Website »

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Magi 4 Christ Campers meet each Monday at 6:00 PM until 7:30 PM. At 4241 S. 37th W. Ave., Tulsa, OK. 74107.  We are a Christian group of camping enthusiasts. We are family friendly. Meeting...

Cost: Donations only

Where:
Hope House
4241 S. 37th W. Ave.
South Door Activity Center
Tulsa, OK  74107
View map »


Sponsor: Magi 4 Christ Campers
Telephone: 918-906-0564
Contact Name: Dorothy Brown

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OKPOP, a project of the Oklahoma Historical Society, is planning a special event to mark Juneteenth on Monday, June 17, from 7-8 p.m. at the Rudisill Regional Library, located at 1520 N. Hartford...

Cost: Free

Where:
Rudisill Regional Library
1520 N. Hartford Ave.
Tulsa, OK
View map »


Sponsor: OKPOP
Telephone: 405-326-1545
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 »

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Where:
Blackbird on Pearl
1336 E 6th St
Tulsa, OK
View map »


Website »

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Where:
The Colony
2809 S Harvard Ave
Tulsa, OK
View map »


Website »

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Where:
Hodges Bend
823 E 3rd St
Tulsa, OK
View map »

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Where:
Mercury Lounge
1747 S Boston Ave
Tulsa, OK
View map »


Website »

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Where:
Rabbit Hole Bar & Grill
116 S Elgin Ave
Tulsa, OK
View map »

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Where:
Juicemaker Lounge
3508 S Sheridan Rd
Tulsa, OK
View map »


Website »

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Where:
Soundpony
409 N Brady St
Tulsa, OK
View map »


Website »

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Show More...
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The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
View map »

More information

The Please Touch the Art exhibit breaks the rules of traditional art exhibits and makes art accessible, especially for visitors who are visually impaired or blind. Guests are encouraged to touch...

Cost: free & open to the public

Where:
McKeon Center for Creativity
910 S. Boston Ave.
TCC Metro Campus
Tulsa, OK  74135
View map »


Sponsor: Tulsa Community College
Telephone: 918-595-7339
Contact Name: Cindy Armstrong

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

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

Where:
The Colony
2809 S Harvard Ave
Tulsa, OK
View map »


Website »

More information

Where:
Mercury Lounge
1747 S Boston Ave
Tulsa, OK
View map »


Website »

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Where:
The Colony
2809 S Harvard Ave
Tulsa, OK
View map »


Website »

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The classic musical about maintaining cultural identity against encroaching influences features several Broadway hits, including Sunrise, Sunset, If I Were a Rich Man, and Matchmaker, Matchmaker.

Cost: $40-$85

Where:
Tulsa PAC - Chapman Music Hall
110 E 2nd St
Tulsa, OK
View map »


Website »

More information

Cost: SOLD OUT

Where:
Hard Rock Casino - The Joint
777 W Cherokee St
Catoosa, 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

Where:
Lefty's On Greenwood
10 N Greenwood Ave
Tulsa, OK
View map »

More information

Where:
Blackbird on Pearl
1336 E 6th St
Tulsa, OK
View map »


Website »

More information

Where:
Guthrie Green
111 E Reconciliation Way
Tulsa, OK
View map »


Website »

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Where:
Gypsy Coffee House
303 N MLK Jr Blvd
Tulsa, OK
View map »

More information

Show More...
Show Less...

The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
View map »

More information

The Please Touch the Art exhibit breaks the rules of traditional art exhibits and makes art accessible, especially for visitors who are visually impaired or blind. Guests are encouraged to touch...

Cost: free & open to the public

Where:
McKeon Center for Creativity
910 S. Boston Ave.
TCC Metro Campus
Tulsa, OK  74135
View map »


Sponsor: Tulsa Community College
Telephone: 918-595-7339
Contact Name: Cindy Armstrong

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

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

Every Wednesday Live Event Trivia is at The Willows Family Ales - Show starts at 7 and is free to play! Movie scenes, Finish the Lyric, Classic Trivia, and more! The crew from T-Town Tacos will be...

Cost: Free

Where:
The Willows Family Ales
418 south peoria ave
tulsa, OK  74120
View map »


Sponsor: The Willows Family Ales
Telephone: (918) 895-6798
Contact Name: Julian Morgan
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...

The Please Touch the Art exhibit breaks the rules of traditional art exhibits and makes art accessible, especially for visitors who are visually impaired or blind. Guests are encouraged to touch...

Cost: free & open to the public

Where:
McKeon Center for Creativity
910 S. Boston Ave.
TCC Metro Campus
Tulsa, OK  74135
View map »


Sponsor: Tulsa Community College
Telephone: 918-595-7339
Contact Name: Cindy Armstrong

More information

Join Tulsa City-County Library’s Imagination Station for stories and songs in the park. Bring a blanket or a lawn chair. Afterward, cool off in the splash pad. Sponsored by the Tulsa Library...

Cost: Free

Where:
QuikTrip Plaza
41st and Riverside
Tulsa, OK  74132
View map »


Sponsor: river parks
Telephone: 918-596-2008
Contact Name: Ryan Howell

More information

The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
View map »

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

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

Paws & Pictures: Tulsa SPCA Drive-In Movie Night promises a night of family- and pet-friendly fun followed by two drive-in feature films when the sun goes down. All proceeds benefit the Tulsa SPCA...

Cost: $7 for adults; $3 for kids under 12

Where:
Admiral Twin Drive-In
7355 E. Easton
Tulsa, OK  74115
View map »

More information

Third Thursdays in the Rainbow Room closes out its first season with Tulsa musical theatre veterans Pat Hobbs and John Orsulak in their two-man cabaret, “NEXTS!” Pat and John take the audience...

Cost: $15 Bistro / $10 GA

Where:
Lynn Riggs Theatre at OKEQ
621 East 4th St.
Tulsa, OK  74120
View map »


Sponsor: OKEQ / Pat Hobbs
Telephone: 918-637-25866
Contact Name: Pat Hobbs
Website »

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The Collinsville Chamber of Commerce is bringing back their much-anticipated Outdoor Summer Movies for a sixth year this summer. The movies will take place Thursday evenings in June at the...

Cost: Free

Where:
Collinsville City Plaza
12th and Main Street
Collinsville, OK  74021
View map »


Sponsor: Collinsville Chamber of Commerce
Telephone: 918-371-4703
Contact Name: Megan Edwards
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...

The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
View map »

More information

The Please Touch the Art exhibit breaks the rules of traditional art exhibits and makes art accessible, especially for visitors who are visually impaired or blind. Guests are encouraged to touch...

Cost: free & open to the public

Where:
McKeon Center for Creativity
910 S. Boston Ave.
TCC Metro Campus
Tulsa, OK  74135
View map »


Sponsor: Tulsa Community College
Telephone: 918-595-7339
Contact Name: Cindy Armstrong

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

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

Celebrate the summer solstice by ending the longest day of the year at the Garden! Stroll in the Garden as the sun sets. Coffee House on Your Street food truck will be selling food/snacks and OK...

Cost: $10 for Garden members; $15 for non-members.

Where:
Tulsa Botanic Garden
3900 Tulsa Botanic Drive
Tulsa, OK  74127
View map »


Sponsor: Tulsa Botanic Garden
Telephone: 918-289-0330
Contact Name: Lori
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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Cheer & Gears Auto Show will be Saturday, June 22 at the Charles Page High School parking lot, 500 N Adams Road in Sand Springs, Oklahoma. All makes, models and years of cars, trucks, Rat Rods...

Cost: FREE

Where:
Charles Page High School
500 N Adams Rd
Sand Springs, OK  74063
View map »


Contact Name: CPHS Varsity Cheer
Website »

More information

Join us for our biggest antique event of the year! Shop over 200 booths of antiques, collectibles, memorabilia, vintage, retro, crafts, and more, plus the Tulsa Antique and Bottle Club's annual...

Cost: Free admission

Where:
River Spirit Expo at Expo Square
4145 E. 21st St.
Tulsa, OK  74112
View map »


Sponsor: Tulsa Flea Market
Telephone: 918-744-1386
Website »

More information

The Museum’s Dickinson Research Center is home to more than 700,000 photographs, 44,000 books, and perhaps unexpectedly, at least 1,000 horses. Meet some of the herd in Horseplay, the new...

Cost: $12.50 adult entry

Where:
National Cowboy & Western Heritage Museum
1700 NE 63rd Street
Oklahoma City, OK  73111
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

Join us on Saturday, June 22 from 10AM - 8PM in the wonderful Kendall Whittier Square at Admiral and Lewis. More than 40 local makers will be there to show off their talents and their wares!...

Cost: free

Where:
Whittier Square
Admiral and Lewis
Tulsa, OK  74104
View map »


Sponsor: 918Makers
Contact Name: Sarah Bowen
Website »

More information

Then, Here/Now: Creating Community in the Center is a group exhibition that illuminates the histories and presence/presents of LGBTQIA+ art collectives and projects that help to ensure visibility...

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

Mallets & Moonlight is an exclusive fundraising event in Tulsa, Oklahoma featuring a Polo match, live music by Banana Seat, dancing, endless Hors’ doeuvres, complimentary bar and...

Cost: $500

Where:
Mohawk Park
5701 East 36th St N
Tulsa, OK  74115
View map »


Sponsor: The Center for Individuals with Physical Challenges
Telephone: 918-794-4514
Contact Name: Victoria Ladd
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
View map »


Telephone: 866-496-0535
Contact Name: The Dinner Detective
Website »

More information

Come dressed in your favorite tropical evening attire and enjoy   • A delicious Caribbean Dinner • Tropical Rum Drinks and 2 Open Cash Bars • Music and Entertainment •...

Cost: 50.00 Individual

Where:
810 Ranch & Cattle Co.
800 N Country Club Road
Muskogee, OK  74403
View map »


Sponsor: Kelly B Todd Cerebral Palsy and Neuro-Muscular Center
Telephone: 918-683-4621
Contact Name: Sharon the Riggs
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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Where:
, OK


Website »

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Where:
Ninowski Rec Center
1367 E 71st St
Broken Arrow, OK
View map »


Website »

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