House Hunting In Tulsa
I am in the midst of house hunting here in Tulsa. It is unfortunately very much a seller’s market. Not the best time to plan to move. Everything is very overpriced.
And even if you want it badly and are willing to pay the high price, unless you have cash, the appraisal is not going to get the bank loan. Quite a quandary to be in if you’re house hunting at this particular point in time.
House Hunting In A Seller’s Market:
I have some money put back, but with everything I’ll need to factor in, I fear it would not leave me anything left. And I just can’t do that.
It is a maddening process. Because sometimes the home is sold at listing. And no one even has the chance to see it.
What I’m Reading:
I am reading a book from 2016 called “The Fallen.” I picked it up on the clearance pile at B&N some time ago.
Book Summary:
From the Emmy, PEN, Peabody, Critics’ Choice, and Golden Globe Award-winning creator of the TV show Fargo.
On a foggy summer night, 11 people: 10 privileged and one down-on-his-luck painter, depart Martha’s Vineyard on a private jet headed for New York.
Sixteen minutes later the unthinkable happens: The plane plunges into the ocean. The only survivors are Scott Burroughs, the painter, and a four-year-old boy.
The boy is now the last remaining member of an immensely wealthy and powerful media mogul’s family.
I’m trying to get my actual books read in order to give to my younger daughter Kasi because I don’t want to move them.
I have a lot of books waiting to be read on my iPad.
What I’m Watching:
At night after I finish supper I watch shows on streaming TV. Right now It is Masterpiece Theater’s “Unforgotten.”
Premise: Nicola Walker (Last Tango in Halifax, Babylon) and Sanjeev Bhaskar (Yesterday) star as DCI Cassie Stuart and Cassie’s partner-in-solving-crime, DI Sunny Khan. These two are veterans at uncovering the truth of tangled, complicated murders of the past.
But the deeper the truth lies, the bigger the emotional toll for the suspects, the families left behind, and for Cassie and Sunny to handle. How long can one fight for justice while preserving their own sanity?
I’m really enjoying this show. And am now watching Season 2. I love British shows.
I will keep you updated on house hunting in Tulsa.
I live in NY, so house prices here are always ridiculously high, but this market is insane. In my tiny beach bungalow neighborhood cottages are going for double what they did a year ago and yes, well over asking, well over appraisal and you must have cash. When we bought this house the market was similar and our home was a sought after place. However, the owner chose us, because we loved the house and had no intention of knocking it down to replace it with a larger structure…even with a lower bid. So keep looking, you just never know!
It started here in British Columbia, Canada five years ago. Houses that were $300,000.00 suddenly were going for $600,000.00. Realtors were knocking on doors of homeowners telling them what they would get if they sold. Next door neighbour took the bait and sold in 2 days. But then reality set in because there was nothing to buy that did cost more than they just got and all were sold within 1 day of listing. They ended up having to buy a one bedroom apartment, selling their travel trailer and most of their furniture. Went from 2700sq feet to 700. Then a 4 year lull until 2020and covid. Everyone wanted a house. Prices jumped from 500,000.00 to&700,000.00 in two weeks with bidding wars. Most homes (45 year old homes) are now selling for over $1 million with 38 plus bids. And that is in the country. In Vancouver, the 3rd largest city in Canada, 1 bedroom apartments are $1 million and homes anywhere from 3 million to 13 to 20+ million. And rentals are totally unavailable. Young people have no chance of buying. Have to put down a 20% deposit before mortgage is approved.
You might consider finding the area you want to live in, and then write to each of the homeowners in the area, explaining that you’re looking to buy in their area, and ask big them to contact you if they’re interested in selling. Investors do this all the time.
You can always use a real estate lawyer for a contract – you don’t have to use an agent.
Not everyone wants to sell their home to a third party – lots of people like to know who’s going to be living in their home.
Best of luck!
I watch the unforgotten and it is a great series. The housing market is crazy and a lot of buyers are waiting until this crazy slows down. We got thousands over our asking price which was good for our sale as a seller but when we needed to purchase the condo we had to go over the asking price for this place. Ours did appraise out on both the condo and our home so we were lucky to not have to have the buyer come with cash for the difference or have to lower our price as the seller. My friend that is a realtor said her buyers are losing out on homes and they are 30 to 40 thousand over asking and still lose out. Insanity.
You would be better to wait until the market calms down. If you are a seller the world is yours but if you are a buyer it is almost impossible. Good luck.
My daughter and son in law experienced this in the fall in upstate NY.
Every house that ticked all their boxes was gone as soon as the listing hit Zillow,they finally got lucky by offering over asking!
Its completely nuts,seems everyone is fleeing the crime ridden cities.
Dear Brenda,
I just want to send you encouragement with your house hunting. Our story….we relocated to Durham NC 12/2019 in a hot sellers market. We were renting for 6 months. We made 2 offers both rejected. The 3rd house I viewed earlier Saturday morning was like Grand Central Station. There were so many interested buyers, I had not hope. We made an offer that was accepted. So keep the faith you will find a home. We both feel the 3rd house was the absolute best choice for us. Blessings
Brenda, It was the same type of housing market when my daughter was trying to buy a home several years ago. Every time she found one she liked it had already been taken off the market or there were 10 other offers ahead of hers. Finally, a friend of a friend had a relative who was getting ready to sell their income property. They were in the process of fixing it up. They agreed to let her view it before they listed it. She loved it (1940s bungalow) and made an offer that was accepted on the spot. They finished what they had started, but didn’t start anymore renovations. She has been there 15 years now and LOVES it. It’s 800 sq. ft., single car garage, two bedroom, one bathroom, tiny sun-room, galley kitchen, small front yard and little larger fenced back yard with patio. (dog proof) Keep looking and tell everyone you know that you are looking. The right house will present itself and all the doors will open for you. Don’t give up. Sandra
I have watched three seasons of Unforgotten on PBS. I love the British shows too.
I have been wanting to move for years, and now that I can get something for my home, I could never afford another one. It is maddening at the least. Hopefully next year will be better.
Brenda, I was looking on realtor.com for houses in Tulsa and I found several just listed some twenty minutes ago for $90,000 and under! You should take a look!
I looked too. Lots of homes under 100 thousand and some have been listed for a whole.
Is your daughter helping you look? With her background flipping houses she seems like she would be a valuable resource. It does seem the country has gone a bit crazy, people moving hither and yon.
I guess it isn’t a very good time to be buying but, is there really a good time? I think the interest rates are great now and are starting to go up and the low interest rates kind of out way the price of real estate.
I like Nichola Walker, she is a great actress!
I loved Unforgotten. A brilliant show concept with great actors.
I may go back and rewatch it.
Thank goodness you have your own personal professional to help you re-enter the real estate market.
Loved “Unforgotten”. Have you seen “New Tricks”? Also a British show about unsolved crimes, but with a bit more humor and each episode is unto itself. It is on Netflix.
I don’t have Netflix.
I found these on Prime, but not Netflix, in case anyone wants to watch. Too much to keep track of, sometimes? I’m glad you suggested them, Brenda and Arli. Thanks.
It’s a tough time to be a home buyer, that’s for sure. I hope the neighbors who take the next door unit are okay so you don’t feel rushed to make a moving decision.
I’ve read the Before the Fall but can’t recall the ending 🤷♀️. Unforgotten is good; Nicola Walker is good in everything I’ve seen her in.
The real estate market seems to be nuts everywhere, even in my usually very stable value for homes city, the prices that basic starter homes are going for is mind-boggling. You are right, this is not a good time to be out looking for a home, in a market bubble. But you also don’t want to be caught in a spiral of increasing decay and neglect of your apartment complex with potential rental increases. I don’t know if this is an option you’d consider – buying a duplex and renting to a tenant to help pay the mortgage (preferably a mature single woman). This bubble will burst at some point – we all lived through the rapidly rising prices in homes between 2001/2 – 2007 and then saw what happened when the bubble burst. Now it’s happening again, except the homes are older.