Tulsa Title Company | Tulsa’s Finest

Hello, it’s Brandy and Lindsay with Allegiance Title doing our weekly podcast today we’re going to talk about the stats from August 2017 for Creek Okmulgee Osage, Pawnee Rogers in Tulsa county is Waggoner. Thank you. Foreclose listing brat 1282 down 7 % from 2016 pending listings Over 1300, which is up to almost 3 % since 2016, new listing just a little over 2,000, which is down 3 % from 2016 average list price right around a hundred ninety-five thousand down by the bay Margie, yes, average sales price right around 189, which is up a little bit yet average percent of list price to selling price of a little bit just a smidge average days on the market to sale is actually down 3.25 % in the end of month inventory. Tulsa Title Company¬†It’S up 14.32 % in the month supply of inventories of around 10 %, so basically a wrap up for the month. The total housing inventory at the end of August Rose 14.32 % to the listing homes available for sale. This would represent an unsold inventory in index of 5.0 to MSI for this. The average sales price is going up. According to the preliminary preliminary, this market area has experienced upward momentum with the increased average price. This month, price went up 11 % to 11 % in August 2017 to 189000 versus a previous year, which was 189 705 Universe. Number of days on the market has decreased by 1.37 days or 3.25 % in August, compared with last year’s in the same month was 42 days a month days on the market sales success for August 2017 is the positive one overall, with average prices going up and Days on the market, decreasing the lifted versus closed ratio finished week this month there were 2173 new listings in August down almost 4 % from last year. Furthermore, there were 1282 closed listings this month, vs 1388 last year,

that is about a 7 % decrease close versus lifted Trend, yielded a 59 % ratio down from last year’s August at 61.5. This will certainly create pressure on increasing month supply of inventory, and I find the following months to come, which could mean at switching to a seller’s market which would you say that’s what we’ve seen in the last couple of months yeah. I think you have seen a lot of change. You know it seems like lately. Are our contract have been heavy Feller sides, but with new listings going up? That is a positive. It is, but listings are still down a little. I think there are so many factors that contribute to your school starting in August and September vacation and who wants to move with. Tulsa Title Company Nobody know unless you have basically no moved out of state and you don’t have any other options. That’S the only people really making that move. You know. One thing that I thought was was different is the pending listing in bedrooms, distribution by price. Tulsa Title Company It was talking about the smaller homes or actually staying on the market and in the larger homes or staying on the market. More. So if you were from 250 to 300 you’re staying on the market 56 days, but if you’re anywhere from 50 to 250 you’re moving 145 days, which is really an interesting thing to me – and it also tells you know how many bedrooms each of those typically have Do you think the people will be dropping their prized in order to just tired of waiting to get out of that price range? I mean that’s entirely possible and look if you look at the listings in the same price point only you know, 18 % of the listings are below 50,000 and only 10 % of the listings are above for so, if you’re looking for house above 400000 – and there Isn’T a lot out there right now? That’S right and we’ve had a lot of our clients, saying that some people there’s a lot of people that are looking for a home and there’s a lot of people that are wanting to sell their home. But they want to sell their home first, and does people actually need to sell their home and get out of it? So all those buyers out there can purchase the home.

You can even stay on the market, a three-month on the market. That’S a long time to wait, especially if you got that perfect house out there that your level so now, once you found your perfect house, what do you do? How does it work tell me about it? Have a Brokers open then what happens they going to get title right and then comes the question? Do you want title insurance going to tell me what title insurance is? Tulsa Title Company I sure do Title Insurance means any written instrument purporting to show the title to real or personal property or any interest there in and Comforts Theron we’re furnish such information related to really. I can’t talk relative real property, which written instrument is an Express terms, purports to ensure or guarantee such title or correctness of such information. The contract shall at minimum identify against loss or damage arising from any or all of the following existing on or before the policy date. Defects in or liens or encumbrances on the insured title and marketable title of insured title or in Valatie or enforceability of liens or encumbrances on the state of property. So now that you know what title insurance is, how do you know if you want it? What you? No title insurance of the funny thing: it’s an American invention. We are one of the only people that have it and it came about from a court case where a purchaser purchase property based on a title exam be titled name was done and an attorney had told the examiner that some leans weren’t valid to the property. Will it came out that they were foreclosed in the purchaser lost their investment and the attorney wasn’t liable because he hadn’t produced negligence? Negligence wasn’t Scott, he so it’s kind of like what we do. Then all these investors came in and thought we were going to provide insurance and title insurance is different than any other type of insurance. We don’t take a group policy group of people and hedge against lost. It doesn’t work that way, because my title can be clear and your title can be clear, but that has no effect on your neighbor Works, title being clear right as in help.

You know where you take a group of people and you just hope they don’t get sick title different and Title Insurance have so many benefits to the purchaser protects against serious Financial loss due to a defect in the title or the property at the one single premium. You don’t pay for this every month in Oklahoma, the borrower pays for it all that you could contract differently. There’S two anything you don’t after I pay for it. How long is it good for as long as you own the property, Tulsa Title Company¬†you know what to the agent? It’S beneficial because they were happy people, Title Insurance protects happy. People makes people happy to the seller. It helps because you are wanting to defend title and the buyer has an insurance policy against app. What what about to a home builder. You know what helps homebuilders because of someone files, a mechanic’s, lien post-closing, or something like that. It helps take care of those things got it well for today, thanks for listening,