While most of the country is talking about lowered homes prices and a slowed housing market - Oklahoma and especially S.E. Oklahoma is still on the rise!  According to a report released by the Southeastern Oklahoma Association of Realtors, home values in Southeast Oklahoma rose by 4.3 percent in 2007.  The problem;however, is we have more buyers than sellers.  What we need is for property owners to realize the facts in S.E. Oklahoma and not be afraid to put their property on the market.  Now is a good time to both buy and sell in S.E. Oklahoma.  Since 2002, the sales price of an existing home in S.E. Oklahoma has risen by an average of 6.4 percent a year!  It is important to know the facts about your local area.  What is happening locally is much more important than what is happening on the national level.  Don’t always listened to what you hear on the national news - call a REALTOR and find out what is going on in your neighborhood.  Read the attached article to learn more facts about S.E. Oklahoma.

The other day I read an article stating that consumers are satisfied with mortgage lenders. This conclusion came from the 2007 Primary Mortgage Origination Studyand the fact that consumers rated the origination experience 750 out of a 1000 point scale.  However, I have had several reports from consumers who have been sorely disappointed with the process starting with the loan origination through the underwriting.  There are consumers who are receiving loan pre-approval letters only to be denied by the underwriters.  So, what does the pre-approval letter mean to the buyer and other professionals involved?  Are pre-approval letters of any value?  I believe underwriters are tightening up on the requirements for loans.  Perhaps not all originators have changed their mind sets yet to be in line with the underwriters.  It is just another reminder to REALTORS that the transaction is not certain until it is closed!