Tulsa_Real_Estate

[spoonbill]

quote:Originally posted by wavoka

Last week I ran into the realtor we used to sell our house last summer. As we were talking in line at Reasor's I asked how business was and he said he was moving into the foreclosure market and had been doing "a ton of business in that market in Jenks and Bixby lately." He said that probably 60% of his business the last 4 months has been buying and reselling foreclosed homes in those areas.

Take it for what it is worth...but it sounds like "South County" may have burst its bubble.

That's interesting.  Our builders are still spitting out customs and specs as fast as they can to keep up with the market.  Of 24 lots in Country Woods of Jenks, and Providence Hills, owned by our builders, all but 6 have contracts for customs and the specs are moving like wild-fire.

I wonder where the foreclosures are? I'd like to get ahold of them for flips!  He/she must be getting to them before they hit the market, because I'm not seeing them listed through MLS by the banks.

[dggriffi]

MLS is the last place you will see a foreclosure.  There are at least two opportunities to grab a house before MLS.

[spoonbill]

quote:Originally posted by dggriffi

MLS is the last place you will see a foreclosure.  There are at least two opportunities to grab a house before MLS.

Yeah, but if this guy can make "60%" of his income from it, there must just be a bunch!

[dggriffi]

Yeah,  there are so many that even the pre-forclosure folks cant snap up all the good ones.

[NellieBly]

Williams Real Estate Auction got into the REO (bank-owned foreclosed homes) market last year and apparently is a leader in the industry now. I think he works directly with banks and then auctions the properties for them for a hefty price. It's a much faster turnover rate than trying to sell a foreclosed home the traditional way and the banks really seem to be going for it.

The great part is they sell them as is. There is no flipping like you think(buying cheap, painting, installing new floors and cabinets, selling high).

[mr.jaynes]

Speaking of real estate, prices, sales and the like, what's this i hear that Camino villa in Broken Arrow may be "redeveloped"?