Oklahoma City Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 1, 2019

7 Ways to Spend Your Tax Refund

It’s that time of year again, tax time! All of your tax documents should be in and now you can file your tax return. Federal tax refunds are processed fairly quickly, so what should you do with the money? This isn’t free money from the government, it’s money the government has been holding from you all year. It’s not wise to just spend it on anything, invest in yourself or your family.

  1. Emergency Savings: You should always have a three-six month emergency savings account. We suggest having a long term disability policy to kick in after 90 days so you don’t run out of emergency savings. If you don’t have the savings account this is your first priority to set up.
  2. Pay Off Debt: some debt can be useful, but unsecured debt is very dangerous. Rates on a credit card can exceed 20% and many rates have risen in the last year. It can be very difficult to pay off when you are paying a high-interest payment. However, if you are interested in buying a house, consult a mortgage expert on how much to pay down until you close.
  3. Buy a Need: Know what is a need or a want. You don’t need a new Ford Mustang, but you might need a root canal.
  4. Buy a House: This is our favorite one! For most Americans buying a house is a childhood dream. But, it’s not cheap, there are ways to decrease the cost, but you will still need furniture, appliances, and more.
  5. Donate to a Charity: There are plenty of charities out there that could use your help. It gives you a good feeling, plus it may help lower your tax bill for next year. If you are looking for good charities, we suggest our friends at Serve More.
  6. Invest in a Tax Shelter: That may be a funny word, but there are plenty of ways to invest in your future while lowering your taxable income for next year. An IRA is a great way to invest in your retirement or a 529 to help your kids get through college.
  7. Spend it! If you are all set with your savings, little debt, no needs, love your house, and give lots to charity then just spend it! There is always something that you want, go buy that Maserati.

 

This is just a short list of what you can do with your tax refund. There are lots of other ideas, but these are some of the best. If you are considering buying or selling a home as part of your tax refund plan, we’d love to help.

Posted in information
Jan. 28, 2019

January 2018 Market Update

Want to learn what is happening in the local real estate market? Check out this quick video from our Broker.

 

Posted in Market Updates
Jan. 16, 2019

Top Things to do in SWOKC/Moore

You call SW OKC or Moore your home? Or maybe you are thinking about moving to the area. But, your friends are telling you that there's nothing to do? It's true that the area is mainly suburban with lots of rooftops and big box stores, but there are lots of fun things to do in the area these days. I've lived here my entire life, back in the 80's and 90's, there really wasn't much to do, today so much has changed. 

Moore Warren1. Catch a movie at The Warren! People come from all over the city to catch a movie at The Warren. It may not be the same since Regal bought it, but it's still one of the nicest movie theaters in the area. If you are without the kids go upstairs to the balcony or directors suites, enjoy dinner or a drink, while being treated like royalty. 

2. Visit Orr Family Farm. Looking for a place to let the kids explore and get a taste of the area back in the day? The Orr Family Farm is the place to go to have some good clean fun. Enjoy the Pumpkin Patch in the fall, Christmas lights in the winter, see farm animals, hunt Easter eggs, or any number of things. This is a great asset to have close to home!

3. Enjoy a day at Buck Thomas Park. Moore has many parks, but Buck Thomas is the premier park. With 130 acres of fun, from tennis courts to football fields, to playgrounds, fishing ponds, dog park, and walking trails there is something for everyone. Pack a picnic and enjoy!Buck Thomas Park

4. Enjoy another day at Earlywine Park. This is very similar to number 3, but this is on the west side. Earlywine is unique with a YMCA on sight, public pool/splash pad, golf course, and beautiful walking trails. This was the park that I grew up in and I love seeing the park mature with the trees getting even bigger. 

5. Check out 19th Street. Yes, this is the big box district, you can go to Walmart, Target, and Home Depot in just a few minutes. But, there are lots of local options too. Check out some of our local restaurants in the middle of the big box stores, like Hummus, Pho Lan, Hideaway Pizza, Oliveto, 1907, Panang, and many others. 

6. Go to Central Park/The Station. This is the newest addition to this list. I grew up going to the old Community Center and Moore Pool. Both have been replaced with Central Park. There is a great walking trail, playground, public amphitheater, farmers market, pool (with a great lazy river), basketball court, and a full fitness gym. This really is the place to gather in the center of Moore. 

The StationAs you can see there are lots of things to do in the area. One of the great things about the area is that it's a short drive to downtown Oklahoma City or Norman, which has more options for you. I love this area of town, it's home for me! It has changed so much and continues to change. I am a frequent visitor to all these places, so you may see me with my family at any of them. 

If you would love to make this area your home call us anytime at 405-692-0663!

Brian Mullins
Broker/Owner

Posted in information
Aug. 22, 2018

Is now the time to buy a house or wait?

I hope that you had a good summer, but now the school bells are ringing again, summer vacations are in the books, the days are getting shorter, rush hour traffic is back, and home buying "season" is over. Wait! Home buying "season"? Shouldn't a Realtor say "It's always a great time to be in the market?"

Well, I'm glad that you asked! There is most certainly seasonality in the residential market (as can be seen from the chart), but there is always a housing market. So, let's look at today's market to get us the pros and cons of our current market!

Pro: Our inventory has risen faster than demand for homes. This spring we were short on inventory, today we have way more inventory. More supply means that our market has shifted in the buyer's favor! You have more choices of homes and may be able to to get a better deal. 

Pro: Interest rates are holding steady. Many had predicted that interest rates would rise above 5% on a 30-year mortgage by now, but we have been holding steady between 4.5% and 4.75%. You may remember a couple of years ago we were at 3.25%-3.5%, but even 4.5% is much cheaper than historical rates. 

Con: We have already started to see inventory levels fall a bit since the end of July, but not enough to shift the market in the seller's favor. This means the longer we wait though you will have fewer housing options. We are just below the peak, but the "good ones" may already be taken.

Really it comes down to when is the best time for you and your family to move. Did you get a new job on the other side of town? Might be time to move closer. Your kids don't like their school? Maybe move to a different district. Or, maybe you are just tired of your old house and want something new? No matter the reason, the housing market will always be cyclical. As inventory drops so do the number of buyers. The chart shows that inventory lags closed sales by a month or two, but it will equal out.

If you have any questions just give us a call at 692-0663!

Brian Mullins
Broker/Owner

Posted in Market Updates
March 27, 2017

Discover the Rose Rock Difference

There are a lot of Realtors out there, why should you hire Rose Rock Realty? The answer is simple: the Rose Rock Difference.

  1. We genuinely care about our customers and aren’t worried only about the bottom dollar.  We understand that no matter which price range you are looking at, this is a big purchase for you.  I’ve always gone into business ventures with the attitude to treat people the way I’d want to be treated, which is with genuine compassion.  This is a trait that you will find throughout the whole team.

  2. The advanced knowledge of real estate we provide.  Even on my first transaction, I was complimented about my knowledge of the business, they thought that I’d been doing this for years.  I don’t want to sound like I just have a big ego, but I want to demonstrate how industry professionals recognize my experience compared to other agents. I have gained this knowledge by my lifelong interest in real estate, followed by my studies in real estate and contract law through business school, then five years of real-world experience in commercial real estate management and my own personal rental management.  This knowledge is taught to the whole team.  But, I don’t know everything, so I’ve surrounded myself with industry experts, so if there’s something I don’t know, I can find out.

  3. Up front attitude towards all transactions is our style.  If you want an agent to coddle you and sugarcoat the truth, then we aren’t for you.  But, if you want to know the truth in a straightforward manner, then you found the right team.  Sometimes you may look at a house that is priced way too high, and I will be the first to communicate that fact with you.  Some agents would just let you pay the higher price so they get more commission.  I want you to be happy with your purchase in the long run, which will be better for me in the long run too.

  4. Technology is our game!  The average agent in 2016 is a 53-year-old female with some college.  We are a group of millennials who grew up around technology, but we are old enough to remember days before computers.  We constantly are striving to find new ways for technology to help our business.  We understand online and social media advertising, which is difficult to find in a realtor, especially in Oklahoma.  All of our contracts that can be paperless, are paperless.  Does this mean that we can’t work with other generations?  No, we strive to make our technology easy for all of our clients to use, young and slightly less young alike!  

     

  5. You get a whole team for the price of one agent.  A lot of people don’t realize that real estate agents are completely independent contractors.  If you had a good experience with an agent from a big name brokerage that does not guarantee the same quality of experience if you hire another agent from the same big name brokerage.  Why? They are all completely independent.  Our team is small now, but will not be for long. Sara is in training to be a transaction coordinator and we have a buyers agent in the pipeline.  So, when you hire us you get a collection of people who have specialized knowledge in different areas of real estate, and a consistent experience by having processes setup for the whole team.

There are lots of other reason that you should hire Rose Rock Realty.  I have worked many long hours to develop a process to provide you the best experience.  I will be glad to answer any of your questions about real estate, just call me at 405-692-0663.

Sincerely,

Brian Mullins
Broker-Owner

Posted in information
March 20, 2017

Welcome to Rose Rock Realty

Welcome to the Rose Rock Realty Blog! I hope to provide you useful content over the years on this blog, but for today, let’s start off with an introduction to Rose Rock Realty and the Rose Rock difference.  

Rose Rock Realty was founded by myself (Brian) and my beautiful wife, Sara.  We were born just two months apart in Cleveland county (fun fact, I was the last baby born in the old Moore Hospital, now Moore Public Schools HQ).  We both went to the beautiful University of Central Oklahoma, I studied finance and real estate, while Sara studied music education.  I went on to get my Masters in Business Administration from Oklahoma City University.  I am forever a student, but I reached the end of my academic career when my only step up was a PhD (that’s my retirement goal).  

After school, Sara fell in love with libraries and is now famous “Ms. Sara” in the children's department at the SW OKC Public Library (you should go to the grocery store with her).  I, on the other hand, found an awesome job being a Real Estate Project Manager and Financial Analyst.  I had a ton of fun managing properties and learning as much as I could for the five years I was there, which I left to start Rose Rock Realty.

Our real estate journey started when we separately bought homes before we were married.  We loved our little starter homes, in the process of preparing to turn Sara’s into a rental for after we were married the May 2013 tornado hit, destroying her house.  It was devastating!  But, it also meant that we didn’t have our first investment property.  

So about a year later, we started to get the itch to find a new investment property.  We started searching and bought our first investment property, a duplex in Norman.  It was so fulfilling providing a home to great people.  Our principal was to treat our tenants the way we would want to be treated.  With this philosophy, we have great business relationships with our tenants, our first set of tenants is still with us to this day in a different unit.  This became an addiction, we ended up buying three more units, for a total of five today.

The rentals led to the desire to start touching more people by bringing the same level of service to the great homeowners and future homeowners of Oklahoma.  In 2016 we starting launching a real estate career.  We explored the possibility of joining a large franchise real estate firm but decided that to provide the level of service we would expect that we needed our own company.  So, Rose Rock Realty was born!

We would love to show you the Rose Rock difference, please contact us by phone, email, text, snail mail, carrier pigeon, or whatever your preferred method of communication.

Posted in information