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Thoughts from the recent SF seminar
September 14th, 2007 4:30 AM
I enjoyed this last weekend as much as I have since my first one in 2005. Much has changed in the investment market since that time, and like all things you see the good and the bad. In the last two years, the mortgage loan business has been a wholesale giveaway that allowed investors to purchase property without a thought for the wisdom of future value or market stability. While no one had a crystal ball to say with 100% assurance that the market would change drastically, common sense should always rule the day. I saw more common sense this last weekend coming back to the forefront. It is impossible to make every investment perfect, but at least due diligence should prevail, and the attendees at this seminar did exactly that. By no means am I saying that everyone should invest all their money in Oklahoma City. If that happened the market would become over saturated, and rents would go down. It is important in 2007 and 2008 that we return to a time of less speculation, and concentrate on solid long term investments. Markets like Oklahoma City and Tulsa can still achieve positive cash flow with 20% down, some neutral with 10% down, and almost all positive with interest only loans. Recent statistics from NAR show that the average price of a home sale in Oklahoma City is up 12.1%, the second highest in the U.S. Local statistics show a 5% increase in volume over last year, where the majority of markets are trending down. While we can never show you the large run ups in value that Nevada, Arizona, and Florida achieved in the last two years, we can help you avoid the equally strong reductions in values that those cyclical markets are experiencing.

Posted by Joe Pryor on September 14th, 2007 4:30 AMPost a Comment (0)

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