How Are the Feds Mortgage Backed Securities and Treasuries Affecting the Mortgage Rates?

Click here to find out what your home is worth or to search all area homes for sale.

Happy 2014 from The Wolek Group! I’m Jennie Wolek with Keller Williams Advantage in Tulsa, Oklahoma!  We are off to a great start and wanted to share some tips and news with you.

At the beginning of this year the Federal Reserve announced it would begin gradually paring back on its purchase of non-traditional assets aimed at stimulating growth. So, beginning this month, the Fed will reduce its monthly purchase of Treasuries and mortgage-backed securities by $10 Billion. The statement also outlined forward guidance for the Fed’s primary policy instrument, short term interest rates.

At Keller Williams Realty we have an amazing research team, and they have summed this up for us by stating that “Because of the Fed’s purchase of mortgage-backed securities it’s likely that mortgage rates will continue to rise, though it may not be a dramatic increase given the modest reduction in the purchase of these assets. Nevertheless, sellers who need to move to a new school district or into a larger home, should consider listing sooner. And buyers who are on the fence would be wise to whittle down their list and make an offer”

We know that 90% of buyers start their search on the internet and many of them plan on buying in the spring.  It takes the typical buyer 2 months to find a home, so if you are thinking of selling this year, we need to get you on the market now.  Since we know interest rates are likely to go up, let’s beat the rush and put your home in the best position to be picked.  You will also have less competition, as most sellers will be waiting until April or May to get on the market.

If you are buying a home, sooner is better as well.  As interest rates increase, you will have less purchasing power.  This means your sales price will have to be less than what it is today and you may have to settle for a smaller home than what you were planning to buy.

And to help you with your search, make sure you download The Wolek Group mobile app.  Just go to your mobile device, download the Keller Williams app and enter our agent code KW112787 at the startup.  This will allow you to search for ALL of the active listings on the market.  This information comes directly from the MLS, which is our Realtor database and the most up to date information.

Thank you for your continued support and we appreciate you and your referrals!

Real Estate Year End Review 2013

Hi!  I’m Jennie with The Wolek Group at Keller Williams Realty in Tulsa, OK.

It is December 2013! What a great year and it seems to have just flown by.  We wanted to review the past year with you and share the Tulsa real estate market statistics.

As we look back, we had an interesting year with many little “shifts” along the way.  The spring market was crazy busy with low inventory and low interest rates.  Because of this we saw good homes sell fast and close to their listing price.  We even had listings with multiple offers!  Then the heat of the summer kicked in and the market seemed to slow down a bit, school started then the government decided to shut down. It was definitely shifty year. 

Overall though, a good real estate year.  The average sale price went up to $157,673 and the list to sale price went up to 96.63%.  This means that sellers had to negotiate about 3% off of their listing price to get their home sold.

The average days on market decreased by over 7% to just 55.46 days.  The months’ supply of inventory, or the absorption rate, went down to around 8 months.  This means that it will take 8 months for all of the active listings to sell, if no new ones came on the market.

Overall, our closed and pending sales were up around 10% while we are still feeling a squeeze on our active inventory.  Over the last year the new listings inventory is down 3.38% and over the last 2 year it is down 3.07%.   As the inventory remains low, buyers have fewer good homes to choose from and homes will sell fast when they are priced right for the current market and are in good condition.  Buyers will see their value and act quickly.

So, what does all this mean?  Basically if you are even thinking about selling your home in the next year, let’s talk sooner than later and get our sign in your front yard.  Most sellers are thinking that they should wait until spring to list. Why wait and have all of that competition when you can get sold before then for closer to your listing price?  Home affordability is still historically low, so let’s help you take advantage of the market now and get you moved!

Connect with us today, we are all in the office working hard to help our buyers and sellers with all of their real estate needs.

Happy Thanksgiving!

Hi! I'm Jennie with The Wolek Group at Keller Williams Realty in Tulsa Oklahoma!

It is Thanksgiving and we are so thankful and grateful to know you.  This is the time of year when we get to reflect on our business success and thank those who have contributed.  For us, it's all of our friends, family and supporters.  Did you know that this year over 80% of our business came directly from a personal referral or a past client?  We view this as the highest compliment and know that you have a choice when you refer your loved ones.   In 2013 we have grown in the number of families we have helped and in the size of our team.  There are now 5 professionals with specialized roles to better serve our clients and help ensure a smooth process.

We recently met as a team and created The Wolek Group's Mission Statement and we wanted to share it with you.

We help Tulsans buy and sell real estate by sharing our industry expertise, knowledge of the area and proven track record of successful negotiations. We commit to provide exceptional, personalized service that builds long term trust and confidence with clients, peers and the community.

Have a wonderful holiday and talk to you soon!

Holiday Discounts for Your Home and Vehicle

Hi!  It's Jennie with The Wolek Group!

It is now November and 2013 is almost over!  We have had a great year and we want to say thank you to our past clients, friends and supporters with some great deals! The Wolek Group is bringing you an early holiday gift.  We have partnered with many local businesses to get you discounts for the holidays, holiday travel, and winter weather.

We have worked out great opportunities for you this holiday season.  We have Triad Heat and Air offering a discount on furnace check-up, Wolber Inspections is providing a discounted plumbing inspection,  H.D. Construction will make sure your roof is in good condition and All-Pest Exterminating will check your home for bugs and termites.

We have also coordinated with Sooner Chimney for chimney, duct and dryer vent cleanings and Carpet Renovations for a discounted carpet cleaning as well as carpet repairs, tile or duct cleaning.  Also, Lawns Unlimited is offering a discount off a Fall leaf removal or annual lawn contract.  And to get your car ready for holiday travels, Touch of Class Auto Spa is offering a discount on detailing your car.

With deals like these, there's no excuse not to take care of your home and car this fall and winter!

We also want to remind you that $100 of every closing that we have through the end of the year  still goes to  Oklahoma Tornado relief.  We want to thank you so much for your referrals and your business. We have given more than $3300 to these efforts and of course could only do it with your help!

Thanks again for your support in 2013! As you know, we love to work with referrals, so please remember to let us know if you have friends or family who need to buy or sell a home, or invest in real estate - we would love to work with them!

The Wolek Group Holiday Gift to you!
When you contact our business partners to take advantage of these specials, say THE WOLEK GROUP SENT YOU! These special offers are good through 12/31/2013.

Triad Service Company- $20 off furnace cleaning
www.triadserviceco.com / 918-622-6000

Wolber Inspection Service- $10 off plumbing inspection
wolberinspect@gmail.com / 918-455-1646

H.D. Construction- $75 roof inspection
d.haden@live.com / 918-232-4704

All-Pest Exterminating- $15 off pest inspection
babugman@hotmail.com / 918-902-6404

Sooner Chimney- $10 off chimney, dryer or duct cleaning
www.soonerchimney.com / 918-258-2448

Carpet Renovations- $10 off carpet cleaning or 10% off combination of services
www.carpetrenovations.com / 918-437-1956

Lawn Unlimited- 10% off Fall leaf clean up or 10% off annual contract for 1st year
lawnsunlimitedtulsa@gmail.com / 918-630-3332

Touch of Class Auto Spa- $15.00 off auto detail
www.touchofclassautospa.com / 918-250-6944

Now is the Time to Buy or Sell

Welcome back! If you have been thinking about buying or selling, now is the time, especially if you want to get your home under contract by the end of the year. It will take at least a month once your home is under contract to complete the transaction.

A lot of sellers think the fall isn’t a good time to sell, but we actually have found that there is less competition out there and more motivated buyers. That means you can get more money for your home!

The same goes for buyers! We are still experiencing phenomenally low interest rates and we know that they won’t stay that way for long. When they do increase, even by a little, it reduces your purchasing power. That means less house for your money.

Give us a call so we can get started. The Wolek Group is a team of five highly trained and professional agents who can help you in any of your real estate needs. We can be reached at 918-706-9845

Thanks for watching!

World-Wide Referral Network

Welcome back! Did you know that we have a world-wide Realtor referral network? Every month we market to and communicate with agents across the globe to attract buyer and seller referrals to our Tulsa market. In fact, we close about 10-15 transactions a year through this network.

This means more buyers and exposure for your home. Besides this world-wide network, I also have a database of agents I have met and worked with. When I first got into real estate in 2001, I was living in Norman, Oklahoma.  I worked very closely with many of the Realtors there so when I moved back home to Tulsa in 2004, I brought those Realtors back with me in my database.

Besides the great network we have, when I was new in the business, I acquired some real estate designations. First, I received my GRI (Graduate, Realtors Institute) and then my CRS (Certified Residential Specialist). The CRS designation has requirements such as years in the business, number of transactions and educational training. So agents who have this designation must be a professional.

Keller Williams Realty is now the largest real estate company in the world with 90,000 agents. Together we can guarantee you the best exposure for your home and the best service. If you are thinking about buying or selling please call The Wolek Group.

Thanks for watching!

The Wolek Group Phone App!

Hey, everyone! We are so excited to tell you about our very own Wolek Group Keller Williams phone app! In order to download the app you will need The Wolek Group agent ID of KW112787.

If you’re like us, you’ve always got your phone or iPad in hand! Now, searching for homes is easier than ever!

Our app allows you to search for nearby active listings and open houses. There is even an advanced search feature. Our app is all encompassing and it is always up-to-date.

Use this instead of Zillow and Trulia. We have found that often times those websites don’t have accurate up-to-date information. Don’t fall in love with a house that’s already taken!

We also invite you to like our Facebook fan page. We will keep you updated with local and national real estate news as well as information from our community blog TheresnoplacelikeTulsa.com

Thanks for watching! If you have any questions, please give us a call!

Buy and Sell During the Fall Months in Tulsa

Hi, everyone! Welcome back to my video blog! Lately, we’ve heard a lot people saying they are afraid to sell their home now because ‘no one’ moves after summer.

I am here to squash that rumor!

Fall is one of the busiest times in our Tulsa market! In fact, it was so busy last year that we made a note of it to be prepared this year. Last fall we helped more than 20 families buy and sell homes: first time home buyers, corporate relocations and families.

From Labor Day to Thanksgiving, we see a lot of quality buyers. With interest rates still historically low, there is an urgency to lock in that low rate before the holiday season!

So if you are ready to buy or sell, please give us a call. We’d be more than happy to help!

Tulsa Area Buyer Market Update May 2013

Watch on your mobile device >> 

Much of the nation is experiencing a strong seller’s market and our marketplace is no exception. With interest rates continuing to be available at historic lows buyers everywhere are scrambling to lock them in this season. We are experiencing a lot of pent up demand in our marketplace. Right now Tulsa area buyers are definitely experiencing the crunch that comes with far too many buyers looking at way too few homes for sale. There are, however, some tactics to be used that can help you get the home of your dreams.

Working with a buyer’s agent that chooses to devote full time attention to their buyers’ needs is critical. They will have seen hundreds of homes and will be able to instantly connect your needs with what becomes available if and when it does – a challenge many face during a seller’s market.

If You Want It, You Have to Get Creative
At the moment, our buyers’ agents are pulling out all the stops to help find the perfect home for our clients. Whether that means driving around and seeking For Sale By Owner homes, digging deep into a seller pool of people that may have been on the fence about selling or actively soliciting sales – we get it done.

Buyers Don’t Have Time to Waste
Keep in mind as you embark on your journey to buy a home in this marketplace that you will need to engage in a detailed consultation with your agent. They will help identify exactly what your priorities are while listing your must-haves versus any deal breakers to keep in mind. In fact, the moment you find a home that you think is “the one” we suggest going after it or you may risk losing it to another buyer. Knowing your needs is key to the process.

Financing Preapprovals Are Critical in Today’s Market
In a market where sellers are receiving lots of interest on their homes (more so with well priced homes in good locations and in great condition) it’s important to have a conversation with your lender. In today’s fast-paced preparedness is critical when going against other buyers and sellers these days won’t even consider offers unless accompanied by a preapproval letter from a lender.

~

If you are in the market for your dream home, contact us today. Whether you are downsizing, upgrading or just want to take advantage of today’s amazing interest rates – we’re here for you. Our buyers’ agents will make sure you have the best experience! And we have some more tricks up our sleeves to help you get the home you want!