Steve Mangus: Oklahoma City Real Estate

Which one are you?

Steve Mangus (Metro First Realty) — Sat, 20 Sep 2008 08:19:37 -0500

I had not seen this one before.......

COMMITMENT

COP-OUTS---people who have no goals and do not commit.

HOLD-OUTS--people who don't know if they can reach their goals and are afraid to commit.

DROP-OUTS--people who start toward a goal but quit when the going gets tough.

ALL-OUTS--people who set goals and pay the price to reach them.

AIG, Merrill, Lehman.......who's next?

Steve Mangus (Metro First Realty) — Wed, 17 Sep 2008 01:35:59 -0500

I see the stock market managed to climb it's way over the 11,000 mark after spending a night under it. These are just crazy times--companies that are icons of American business crashing left and right. Average Joe is seeing his home equity disappear (or access to it), his 401K is melting like an ice cube, gasoline and food are still in the stratosphere, and in what seems like the blink of an eye his net worth has taken a serious gut punch. We're not talking about the wealthy here, folks.....we're talking about you, and me , and your neighbor next door.

So which stalwart of American business is next? How about GE? Their stock is trading at a very low price and they have a financing and insurance division. How about SEARS? rumors of their demise have been floating around for a long time. Maybe GM? FORD? CHRYSLER? All 3? Will Uncle Sam bail them out too?

WITH ALL THIS UNCERTAINTY AND FEAR, WHAT IS AVERAGE JOE SUPPOSED TO DO?

The main thing is don't panic. The knee jerk reaction is to bail when things get bad. Instead of doing that, look for well run companies that are "on sale"--companies that have been dragged down with the rest of the market. Look for companies that are tried and true, companies that make products that we use all the time and will continue to use like laundry detergent, shaving cream, paper towels...you get the idea. Look for companies that pay good dividends-- that will help your total return and by all means make sure your dividends are reinvested so that you get more shares. Finally, make sure you're diversified. You're not always going to pick a winner but being diversified softens the blow.

ONE MORE THING.......

IF YOU OR YOUR SPOUSE PARTICIPATES IN A 401K THAT HAS AN EMPLOYER MATCH, MAKE SURE YOU MAXIMIZE THE MATCH. OTHERWISE YOU'RE LEAVING FREE MONEY ON THE TABLE.

These truly are crazy times, but it's not the first time and it won't be the last. Just don't panic and be on the lookout for good companies that are on sale.

Making the most of trips

Steve Mangus (Metro First Realty) — Sun, 14 Sep 2008 17:33:15 -0500

When you are out of town, how many times have you stopped in a real estate office to introduce yourself? I have to say more often than not I get busy and it doesn't get done but just think of the possibilities! There is a chance to make a face-to-face contact with someone and get a idea of what they're like--a lot more than is possible from a phone call or email. I make at least 3 trips a year to the Phoenix area. What a great way to cultivate some relationships. There are probably more opportunities for me to refer someone to Phoenix but who knows when they may have someone moving to the Oklahoma City area.

And there are potential tax implications too. By making an office visit, wouldn't that make the trip tax deductible? I think so, but some of you accountants out there, what about it?

I know one thing......tax deductible or not, I'm going to make a stop in a real estate office on my next trip to wherever and if nothing else, hopefully make a new friend.

A window of opportunity

Steve Mangus (Metro First Realty) — Tue, 09 Sep 2008 21:30:37 -0500

Friday it started. I got an email from a lender informing us that their FHA rates had dropped to 6.00%, a drop of .50%. Yesterday more emails and phone calls as other lenders followed suit. That alone should get some buyers of the fence. Now add in the $7500 tax credit and if that doesn't get your buyer motivated then I would question whether you really have a buyer.

Is the tax credit a good deal? At first I wasn't sure but the more I think about it more I think it is. It's not the best thing Congress could have done, but it's what we have so let's make the most of it. Lets look at some of the features of this program.

1. You do get to take the $7500 credit when you file your 2008 taxes--That's a good thing.

2. It's for qualified first time home buyers--That's a good thing and you're a first time home buyer if you have not owned a home in the last 3 years.

3. Isn't it an interest free loan? Yes, but that's a good thing--you get the $7500 to use now and you have 15 years to pay it back interest free? I'd take a deal like that in a heartbeat.

4. What happens when I sell my home? When you sell, any outstanding balance has to be repaid, if there is sufficient profit--if their is not sufficient profit, THE REMAINING AMOUNT OF THE CREDIT IS FORGIVEN.

These are a few of the programs highlights. For more information check out this website-- www.federalhousingtaxcredit.com and click on frequently asked questions. Good luck.

Do you remember when.......

Steve Mangus (Metro First Realty) — Sun, 07 Sep 2008 21:48:46 -0500

My mom turns 80 this week and it reminded me of the birthday cards that tell what happened and how much things cost in a persons birth year. Do you remember when candy bars were a nickel, and a bottle of pop was a dime? Soft serve ice cream cones were a nickel or a dime, bubble gum was a penny. My high school grocery store job paid $1.65 per hour and as a college student in 1970 I remember paying $.29 per gallon for gas.

What's it going to be like for my kids? When they're my age (57) are they going to be saying they remember the good old days in Oklahoma City when gas was $3.50 per gallon? When it only cost $8.50 to get in the theatre to watch a movie? I guess it's all in a person's perspective, isn't it?

So let me ask you this.......what's the most ridiculous?

1. Gas at $3.50 per gallon

2. Milk at $3.50 per gallon or

3. Bread at $3.00 per loaf

My vote is for the bread at $3.00 although I bought a less expensivive loaf. By the way the first home I sold was in 1975 for $30,000 and that was pricey! I sold several in the $15,000 to $20,000 range.

The Thunder Rolls in OKC!

Steve Mangus (Metro First Realty) — Thu, 04 Sep 2008 09:34:32 -0500

Now it's official. Oklahoma City's NBA team is nicknamed the Thunder. I like it--for one thing it's unique among team nicknames. The only other team I know of that makes use of "thunder" in a nickname happens to be connected to a school I attended, the Marshall University Thundering Herd" which I think is one of the all-time great team names (except when your team stinks--when I was at Marshall we were known as the blundering herd and that was one of the nicer names we were called).

I'm still trying to figure out what a Thunder mascot looks like but there are lots of great possibilities with this name---the team will play Thunderball in the Thunderdome and the fans will all be wearing their Thunderwear. Don't laugh, I've already seen their apparel referred to as that. Now the only problem with this is if the team isn't any good just substitute "blunder" for "thunder." Remember, I've already had practice doing that.

One thing y'all need to know--Oklahoma City is on a roll. The Thunder is our first major league sports team (OU is in Norman, not OKC--the players don't get paid but the team is definitely major league), the Bricktown entertainment district is going great, Devon Energy has announced plans to build OKC's largest building with construction set to start next year, the downtown area is thriving and new downtown housing is hot. Oklahoma City is also home not only to Devon, but Chesapeake Energy, Sand Ridge Energy, and Sonic Drive-ins are headquartered here as well. Our housing and job market is good--this is truly a great time for this city.

Thanks for letting me brag a bit and "Let the Thunder roll!"

Top 10 Reasons sellers should love their realtor

Steve Mangus (Metro First Realty) — Wed, 03 Sep 2008 23:32:32 -0500

Acouple of days ago in one of my posts, I lamented the fact that some people don't like us very well. In response to that, here are 10 reasons sellers should show us some us some love.

10. You don't buy the sign, we provide it.

9. We take the phone calls.

8. We work with pre-qualified clients--sometimes we may already know of a buyer for your home.

7. We help your buyers get their loan.

6. We help bring the buyer and seller to a meeting of the minds.

5. You get to do something fun while we hold your "open house."

4. We know how to get your house on youtube and zillow (and a whole bunch more).

3. We do the paperwork.

2. It's true. Your house typically sells for more $ when we sell it.

1. YOU ONLY PAY US IF WE SELL IT!

I'm sure there are a whole lot more--lets hear some of your ideas.

MEGA CAMP WRAPUP

Steve Mangus (Metro First Realty) — Fri, 29 Aug 2008 10:36:45 -0500

Mega Camp is over for another year and I have to say the tech session on Wednesday morning was the grand finale. As far as I'm concerned that in itself was worth the whole trip. One of the most interesting aspects was the panel discussion that included the advertising director from the NY Times, a VP from Realtor.com and the CEO/COO from Trulia and Wolfnet. At the end of the discussion each panelist was asked to give 1 major point that they wanted us to get. It was my perception (shared by others sitting near me) that the VP from Realtor.com was quite defensive when it was her turn. I don't know why that was as I didn't hear anything that would justify her attitude.

I was particularly interested in hearing about the "long tail" and niche websites. I think I understand the concept but I'm not sure how to do it. It was a fascinating morning--I wouldn't mind sitting through that session again.

As you know by now, this was my first Mega Camp and I got a lot out of it. If you haven't been to Mega Camp, make sure it's on your list for next year. Austin is a great town--not a bad drive from Oklahoma City, everyone was very friendly, and it was fun seeing what the vendors were offering. I do wish there was a function (a nice dinner or reception) where everyone could just mingle and connect with agents from other cities and states. This format was not the best for that but even so, I still managed to exchange quite a few cards and on Wednesday, I was even able to meet fellow 'rainer Steve Shatsky from Dallas. Steve, it was great to finally meet you.

I hope all of you have a fun, relaxing, and safe Labor Day.

MEGA CAMP -- DAY 2

Steve Mangus (Metro First Realty) — Tue, 26 Aug 2008 21:56:53 -0500

Day 2 was a short day for me as the Mega Agent Camp ended at noon and I didn't go to the Commercial presentation this afternoon. Today featured Mark Zupan (paralymics participant) and Grammy award winning guitar player Larry Carlton. Both of these guys experienced devastating injuries but came through it in a great way. Certainly makes me feel blessed with my situation.

Dianna Kokoszka led a session that dealt with call reluctance and there were panel discussions relating to dealing with FSBO's and expireds.

I personally have enjoyed seeing what the vendors are offering and of course, getting some freebies. Buyer Acquire, Fax by Mail, and Wise Agent are of great interest to me. If any of you have any comments, pro or con, I'd like to hear them.

I only wish there was a way for all the agents to interact together a little more-maybe some meals together or something like that but this has been a great experience and I look forward to next year. This also really makes me want to go to Famly Reunion, and Orlando in February? That's a no brainer.

MEGA CAMP -- DAY 1

Steve Mangus (Metro First Realty) — Tue, 26 Aug 2008 06:29:39 -0500

Good morning. Well, this is the mornng of day 2, I was just too tired last night to put any coherent thoughts rogether. This is my first Mega Camp but certainly won't be my last. The topics have been timely, the panel discussions excellent, Gary's new book "Shift" is a must,

I'm meeting a lot of agents from other cities and states and everyone is super friendly. All the usual vendors are here and a lot of people are looking but I don't know how many are actually buying. Time to go soon, I will expand on a lot of this later.

Not a KW agent? You don't have to be to come to Mega Camp. More later--have a great day!

Yukon, OK July sales dip slightly

Steve Mangus (Metro First Realty) — Thu, 21 Aug 2008 21:03:50 -0500

Yukon, Oklahoma is a suburb of OKC just north of Yukon. This city of about 42,000 is also the hometown of country music legend Garth Brooks, and in October hosts a wonderful Czech festival--love those kolaches.

July home sales were down slightly but still pretty strong.....

JULY 2008

UNITS SOLD: 89

AVG PRICE: $140,554

MEDIAN PRICE: $130,000

JULY 2007

UNITS SOLD: 100

AVG PRICE: $144,770

MEDIAN PRICE: $133,850

There are currently 422 active listings in Yukon.

Bank Loco Realty?

Steve Mangus (Metro First Realty) — Tue, 19 Aug 2008 16:14:30 -0500

Banks in real estate? In a blog I read yesterday, the author was discussing that possibility and it got me thinking. Would that be so bad? How would it be different from Merrill Lynch or Prudential owning real estate companies?

Imagine with me.....you now work in real estate sales with Bank Loco. You have......

1. a salary with a bonus structure--no more straight commission. You are also an employee so taxes and Social Security are deducted from your check.

2. real honest-to-goodness benefits. Health insurance, dental, vision, disability, even a matching 401k!

3. loyal Bank Loco customers come to you asking you to sell their home or wanting you to help them find a new home.

4. an office is provided for you and it doesn't cost you anything. Bank Loco also pays for advertising, marketing, etc.

5. hours are flexible because people still have to see houses in the evenings and on weekends.

OK, now does that sound so bad? What would you be giving up? Well, you would no longer be self employed which is a big reason most of us are in this business. You couldn't be part-time and you would have to produce just like on any other job. Imagine that.

If you really don't want to work for the bank, you wouldn't have to. There will still be independents just like there are independents in the mortgage business. I have a hunch though that there are quite a few realtors that would trade a little freedom for the benefits mentioned above. Who knows if this will come about.....we were just imagining remember?

HERE'S SOMETHING THAT REALLY DOES SCARE ME----CAN YOU IMAGINE WORKING FOR WALLYWORLD REALTY? Now that's the day I'll retire.

Mustang, OK July sales less than July '07

Steve Mangus (Metro First Realty) — Tue, 19 Aug 2008 01:04:02 -0500

It looks like the real estate slowdown has hit the Oklahoma City suburb of Mustang. This bedroom community of aprox 16,000 had significantly lower sales in July, '08 compared to July, '07

July 2008 sales

30 units

Avg price: $148,875

Median price: $140,000

July 2007 sales

54 units

Avg. price: $156,920

Median price: $145,450

There are currently 188 active listings in Mustang with an avg price of $201,695, and a median price of $163,975.

Total units sold this year through July 31: 230

Total units sold last year through July 31: 310

I wonder how much of the slowdown is due to economic conditions and how much is due to the much higher avg and median prices of active listings. One positive stat is the listing inventory sits at just over 6 months.

Another year older

Steve Mangus (Metro First Realty) — Sat, 16 Aug 2008 00:46:35 -0500

It's now official----I made it through another year. Today (Aug 16) and I am now 57 years young. By looking at my picture you can tell I don't look a day over.....well, 57! LOL

I have to say I am truly blessed. I'm healthy, I'm doing what I love, I have the world's best wife, 3 awesome boys, and 2 crazy dogs that make me laugh a lot. I have learned to savor the good things in life and not dwell as much on the bad. I've also learned that worrying is a waste of time because most of what we worry about never happens anyway.

Without a doubt though, the most important thing I've learned is how important FAITH is and much better life is when I TRUST GOD COMPLETELY. He will take care of us--He's taken care of me for 57 years--he's not going to stop now. I know I'm still learning to trust Him--too many times I still want to be in charge but that's ok, God's not through with me yet.

What's the BEST thing about being "more mature"? DISCOUNTS!

What's the WORST thing about being a "senior"? (I hate that term) FORGETTING TO USE THE DISCOUNTS! You know what I mean, don't you?

Look out 58, here I come! Huffin' and puffin'. Hmmm, did anyone see where I put my keys?

Oklahoma City Market Report--July

Steve Mangus (Metro First Realty) — Fri, 15 Aug 2008 23:17:34 -0500

All things considered, things are looking preety good for the Oklahoma City area. While the total number of transactions is down from last July and the number of listings is up, average and median prices are up from July, 2007. Here are the figures provided by the Oklahoma Metropolitan Association of Realtors......

July-08 June-08 July-07

TOTAL CLOSED 1653 1628 1918

TOTAL $ VOLUME $265,200,302 $268,175,747 $296,046,237

AVERAGE PRICE $160,573 $164,727 $154,351

MEDIAN PRICE $134,900 $135,000 $129,900

%SELLING PRICE TO

LIST PRICE 97% 98% 98%

DAYS ON MARKET 78 86 73

NUMBER OF LISTINGS 9973 9986 9495

For more information and demographics on Oklahoma City, go to my website, my website.

Stop the bleeding!

Steve Mangus (Metro First Realty) — Fri, 15 Aug 2008 01:52:36 -0500

A few days ago, we had a training class in our office on adjusting to a down market. As you probably have heard things are still pretty good in the Oklahoma City market area but no place is immune to tighter credit qualification and higher interest rates.

One subject that always seems to rear it's head in a discussion like this is how to deal with sellers who won't lower their price. Somebody mentioned the phrase "stop the bleeding." What they meant by that was this:

(For this example we will say that Mr. Seller bought his house 2 yrs ago with little or no down pmt. He will be lucky to sell it for enough to break even. Mr. Seller's wife lost her job a few months ago and they are really strapped for cash and, although so far they are still current on their mortgage but they know that won't be the case in a few months unless Mrs Seller gets a new job whis isn't likely since she worked at an automobile factory).

1. While the house is still on the market, the seller is still responsible for the mortgage, insurance, taxes, utilities,

upkeep etc.

2. Let's say for this example that the above items total $2,000 per month.

3. Now lets say Mr. seller gets an offer for $2,000 less than he owes. That doesn't make him very happy but

that's only one month's outlay, right?

4. Mr. Seller can't see the forest for the trees and refuses the offer.

5. 3 months later the house is still on the market and Mr. Seller has spent another $6,000 that he couldn't afford.

6. Mr. Seller would have been far better off to to cut his losses and accept the offer that was $2,000 less than what he owed. By using an example like this the seller can see the logic in accepting the offer. Don't you think this is a good way to help a seller look at the big picture?

Remember--people don't care how much you know until they know how much you care.

Going green and saving money!

Steve Mangus (Metro First Realty) — Wed, 13 Aug 2008 11:02:14 -0500

I like saving money, don't you? And helping take care of our planet isn't so bad either. Here are some easy ways to do both:

You can save big money by making sure you don't have any air leaks around doors and windows. It's a lot easier to detect these in the winter and they can be easily fixed with caulking and weatherstripping. You can also call your local utilities for an energy audit although not all utilities provide them. I was suprised to learn that our Oklahoma City utilities stopped offering this service a couple of years ago. You can do your own energy audit by going to www.energystar.gov. This is a great site, check it out--I think you'll be surprised at all it offers.

I have lots of chargers--chargers for my cell phone, MLS key, bluetooth, electric razor to name a few. When these chargers are plugged in they are sucking energy all the time, even when they're not charging anything! It's called "phantom load." Your tv, coffee pot and other electric appliances are guilty of this too.

In many cases just being aware and making minor changes can save money and energy. I think I can do that.

Playin' in the Rain

Steve Mangus (Metro First Realty) — Sat, 09 Aug 2008 23:36:51 -0500

Just over 2 months ago I attended a seminar here in Oklahoma City by Michael Tritthart (thank you, Michael). As a result of that seminar I joined AR and now guess what? I'm a FEATURED MEMBER! I am truly honored.

I have "met" some really great people on here and have picked up some great ideas, but I think the best thing is AR keeps me thinking about the business and how to do it better. I'm still pretty new in the business, so all of the experience and knowledge I get from fellow rainers just soaks in--ok, some of it just rolls off my back, and of course, as you know it's all free!! How can you beat a deal like that?

I have learned about BPO's and SEO's, google analytics, backlinks, and hanging out at Starbucks to jumpstart the business. I've asked questions and got answers. AR has definitely helped my business and my attitude(funny how they go hand in hand) and if it can help me, it can help anyone. If you are just starting AR, or kind of not sure about it, GET WET! GO PLAY IN THE RAIN!

Mega Camp agent session extended

Steve Mangus (Metro First Realty) — Fri, 08 Aug 2008 18:05:35 -0500

I received an email this morning saying that Monday's Mega Agent session will be extended one hour till 6:30 pm. This is so they can have more time to cover REO's and short sales.

This will be my first Mega Camp and I'm really excited about it. I would like to meet some fellow KW'rainers---anybody have any ideas about we can let other rainers know we are one too? I'm sure we'll come away with some great ideas and a lot of new friends.

Murphy's Law

Steve Mangus (Metro First Realty) — Thu, 07 Aug 2008 23:28:56 -0500

What a day! Why is it when we're the busiest, that's when Murphy's law always seems to kick in. For example, today was not the day for my laptop and my printer to decide they don't like each other. For a while the printer was just ignoring the laptop and not responding at all. Then after that little snit, the printer decides to play a joke and print mirror images! I kid you not---I have no idea how that happened but with the help of my techie wife we found under properties that some gremlin (Vista?) had the mirror image turned on.

And then there are stoplights. I swear I think I must have a really strong magnetic field that makes them turn red. When I approach a light that's green, you can bet your next commission check it will turn red as I get close. Trying to outsmart them doesn't work either. I drive a small Hyundai Accent so I've tried to hide behind trucks or big SUVs and that doesn't work either.

OK, here's one more. Why is it that the most important call of the day is the one that gets lost in cell hell? Now I KNOW I'm not the only one that happens to.

It's now 11:22 and this day is just about done. Yes, it got a little hairy, but I'm blessed to be busy, blessed to have made it through the lights without getting creamed, blessed to have the best techie wife in the whole world, blessed to have a computer, printer, cell phone etc, blessed to be getting calls, and most of all, blessed to be around to see what tomorrow brings. Good night and God bless.

Mo's husband

Steve Mangus (Metro First Realty) — Wed, 06 Aug 2008 23:10:56 -0500

Mo Anderson's husband, Richard, is in an Oklahoma City hospital with a subdural hematoma. The email I got said the prognosis is good but he was going to have emergency surgery. Please remember to pray for a complete and speedy recovery for Richard and of course Mo needs our prayers too. The email does not say which hospital he is in.

OMG! 106 degrees!

Steve Mangus (Metro First Realty) — Sun, 03 Aug 2008 19:53:55 -0500

Can you believe it? The temp here in Oklahoma City reached 106 today and now, at 7:40pm it is still 103! This isn't like Phoenix or Las Vegas where the humidity is low, believe me it feels every bit as hot as the thermometer says. Makes you wonder how people survived the heat in the days before air conditioning.

This also makes me appreciate even more what our soldiers have to endure--in Iraq it's "only" supposed to be 112. All of a sudden, as I sit here in air conditioned comfort, the 103 here in OKC doesn't seem so bad.

$3.48 per gallon--this is good?! and other money issues.

Steve Mangus (Metro First Realty) — Thu, 31 Jul 2008 20:01:26 -0500

WOW! Here we are at the end of July and gas in Oklahoma City is averaging $3.48 per gallon! That's down $0.32 from the end of June, but it's $0.80 higher than 1 year ago.

Nationally, the average price is $3.90 per gallon which is down $0.19 from the end of June, but $1.05 higher than this time last year.

What really gets me though, is most people say $3.48---that's cheap! Cheap compared to what? Yes, it is cheap compared to a month ago and I am thankful for that. But compared to a year ago we're paying out the nose. How quickly we adapt--it's no wonder prices keep going up, "THEY" know they can get by with it.

I think we better enjoy these lower prices while we can because I'm pretty sure we'll see prices go back up rather quickly (Labor Day?).

Do you want to see something scary? If you use Quicken or something like it, go back and look at how much you've spent on fuel this year vs last year. Then do the same thing for groceries and dining out--made your day didn't it? Now look at where your 401k/IRA is compared to last year. THIS is why people are scared, and this is a big reason people aren't buying as many houses--we see our net worth shrinking and money doesn't buy as much. So what to do?

1. Stocks and mutual funds are on sale! It's all cyclical so take advantage of low share prices by adding to your retirement accounts.

2. Know where your money goes. As depressing as it may seem you have to know how much you're spending on gas, food, etc. in order to make adjustments.

3. If you can't pay cash, don't buy it.

4. You absolutely must have an emergency fund! Experts recommend 3-6 months but if that seems impossible, at least have $1,000 set aside for surprises.

5. Ask your accountant if you should adjust how many dependents you claim--this could give you an automatic raise if you're not claiming enough.

I could go on but that's enough for now. If you start with these 5 changes I promise you'll feel better about your money situation. Remember we can't control what everyone else does, we can only control what we do.

Vacation ramblings--KW vs ReMax, open houses, auctions

Steve Mangus (Metro First Realty) — Tue, 22 Jul 2008 00:55:20 -0500

As I get ready to go on vacation tomorrow I thought I'd share these thoughts....

I keep seeing posts from agents trying to convince each other and anyone else crazy enough to read it, that ReMax is better than Keller Wlliams and vice versa. This is going to go on and on and on with no one winning. This is like the Lakers vs Celtics, Tiger vs Phil, and OU/Texas---same difference. As Rodney King said, "Can't we all just get along?"

Are open houses soon to be a thing of the past? After Sunday's open house I held where no one showed up, I'm beginning to wonder. My theory is that high gas prices have ended the Sunday afternoon "lets go drive around and look at houses" crowd.

Are auctions the next big thing? I understand in some places they already are, but not in Oklahoma City, at least not yet. Seems to me like there is a lot of upside and not much downside. For the seller who is current with their payments but doesn't have much equity, to me it appears the traditional listing may be better--what do you think?

I'm not a big fan of fliers(or is it flyers?) I'm too tired to look it up. Either way, I don't like them. They get wet when it rains, and they also seem to magically disappear. I do print up info sheets to give out at the soon-to-be obsolete open houses. I did like one person's idea of putting the rest of their listings on the back of the info sheet.

By the way, you see what state I live in, what company I'm with, and Tiger owns Phil.

Oklahoma City Market Report

Steve Mangus (Metro First Realty) — Fri, 18 Jul 2008 17:33:24 -0500

The Oklahoma City metropolitan housing stats for June are out and the results are a mixed bag. On the plus side, our average selling price was $164,727 up from May's avg of $157, 971 and June 07's average price of $155,367. That's really great news considering current market conditions. Median prices were also up--$135,000 for June, compared to $132,000 for May '08 and $130,000 for June of last year.

On the down side we closed 1628 units in June compared to 1685 in May and 2031 that were closed in June of last year. That's a drop of 19.85% from last June. It should also be noted that we were right at 10,000 listings for June which is about 1,000 more than last June.

I really don't know how to interpret these figures but I was quite surprised to see the median and average price increases so stout. All I know is people a lot smarter than me can't figure it out either. Let me hear your spin......