Grand Lake Ok Real Estate - An In Depth Analysis Of Recent Five Years

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We conducted a Grand Lake Area Real Estate Symposium recently for 100 local business, government and Real Estate people. The speakers included the Region Vice President for NAR, the Region Department of Commerce representative, the Oklahoma House of Representative member, and me, Jeff Savage.
For that Symposium, I prepared an in-depth study of the local Real Estate market – analyzing the last five years. I would some of my findings with you in the attached presentation.
We’ve heard about the National real estate market and what’s going on around the country. That does have some effect on our market as people try to sell homes in California, Arizona, Colorado and around the country to buy property at Grand Lake.
We’ve heard the Oklahoma State economy is running strong with 2.9% unemployment, which can influence the decision to buy property at Grand Lake.
Real Estate is local, and Oklahomans are buying or selling their homes in the local housing market.
NOW, let’s focus on that local market, our four counties in Northeast Oklahoma – Delaware, Ottawa, Craig and Mayes

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Grand Lake Ok Real Estate - An In Depth Analysis Of Recent Five Years

  1. 1. 2008 Grand Lake Area Real Estate Symposium<br />
  2. 2. SPONSORS:<br />RE/MAX Grand Lake<br />Grand River Abstract & Title<br />Grand Savings Bank<br />Grand Lake Association<br />Wells Fargo<br />The Real Estate Book<br />Enterprise Builders – Craig Criger<br />Shelter Insurance – Mark Lee<br />Helicopter Advantage.com<br />
  3. 3. Real Estate Statistics<br />Jeff Savage<br />2008 Grand Lake Area Real Estate Symposium<br />
  4. 4. Real Estate Acronyms, Terminology and Definitions<br />DOLLAR VOLUME<br />Total dollars spent in that property category.<br />AVERAGE SOLD PRICE<br />Total Dollars Spent divided by <br />number of units sold in that property category.<br />Luxury Home Market<br />In this instance, we will simply use <br />the price point representing <br />the upper 5% of the market, or $500,000+<br />
  5. 5. Signs of a Seller’s Market<br /><ul><li>Inventory is Low
  6. 6. Comparable Sale Prices are Lower than Active Listing Prices
  7. 7. Median Sale Prices are Increasing</li></ul>Days on Market will be Decreasing<br />
  8. 8. Signs of a Buyer’s Market<br /><ul><li>Inventory is high
  9. 9. Median Sale Prices are Decreasing
  10. 10. Comparable Sale Prices are Higher than Active Listing Prices</li></ul>Days on Market is Increasing<br />
  11. 11. Source of Information<br /><ul><li>Based on information from the Northeast Oklahoma Board of Realtors® </li></ul>For the period January 1, 2003 <br /> through December 31, 2007<br />
  12. 12. All Property Types<br />
  13. 13. All Property Types<br />
  14. 14. Residential Waterfront<br />
  15. 15. Residential Waterfront<br />
  16. 16. Residential (not Water Front)<br />
  17. 17. Residential (not Water Front)<br />
  18. 18. Luxury Home Market<br />
  19. 19. Luxury Home Market<br />
  20. 20. Water Front Lots<br />
  21. 21. Water Front Lots<br />
  22. 22. Condos and Townhomes<br />
  23. 23. Farms and Ranches<br />
  24. 24. Commercial<br />
  25. 25. Number of Sold Transactions<br />
  26. 26. Days on the Market<br />
  27. 27. Grand Lake Real Estate <br />The Stock Market<br />vs<br />Let’s see the future value of this $200,000 in 5 years for those investments <br />
  28. 28. Assumptions<br />$200,000 is invested in both the Stock Market, and Grand Lake Real Estate. <br />Using averages for the last 5 years:<br /><ul><li>The Dow Jones Industrial Average saw an annual increase of 8.9% per year on average.
  29. 29. The S&P 500 saw an annual increase of 9.28% during the same period</li></ul>Grand Lake Water Front Homes saw an annual increase of 11.7% during the same period<br />
  30. 30. Grand Lake Water Front Homes vsStock Market<br />
  31. 31. In Conclusion<br /><ul><li>The numbers show a strong </li></ul>local real estate market.<br />Water Front Homes and Lots bring buyers to Grand Lake, and continue to be the strongest segment of the area market.<br /><ul><li>Real estate is local, and Oklahomans are not buying or selling their homes </li></ul>in a national housing market.<br />
  32. 32. 2008 Grand Lake Area Real Estate Symposium<br />
  33. 33. SPONSORS<br />RE/MAX Grand Lake<br />Grand River Abstract & Title<br />Grand Savings Bank<br />Grand Lake Association<br />Wells Fargo<br />The Real Estate Book<br />Enterprise Builders – Craig Criger<br />Shelter Insurance – Mark Lee<br />Helicopter Advantage .com<br />

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