And the Good News Is...

November 20, 2008

It's getting to be more and more difficult to find good news on TV. Reporters seem to be reveling in stirring up as much "doom and gloom" news as they can – after all it's been proven that bad news sells better than good. Our addiction to news tickers and 24 hour coverage was solidified during horrific news events of the last decade. But there IS positive news to be found if you dig hard enough.

28 Metropolitan areas showed increases in median existing single-family home prices from the same quarter in 2007. Areas such as Elmira NY, Tulsa OK, Wichita KS and Urbana IL.

But even in areas where average home sales have dropped drastically, there is good news. Buyers who have been shut out of the home ownership market, are now finding that they can afford to buy. And they ARE buying. Three states where the ‘housing bubble' has burst are seeing some of the highest increases in sales. The largest sales gain during the third quarter was in Arizona, up 28.3 percent from the second quarter, followed by California which rose 28.1 percent and Nevada, up 26.2 percent. These areas have seen some of the strongest sales gains with some reports of multiple bidding.

And there's also good news for sellers. The typical seller purchased their home six years ago and is still experiencing net equity gains, even in today's depressed markets. The national increase in value since the third quarter of 2002 is 18.3 percent, which is a median gain of $31,000. Even with the current downward price distortion, 90 percent of metro areas are showing six-year price gains.

So while we are definitely in turbulent economic times, there is GOOD NEWS to be found if you look for it. Hopefully, some home buying incentives will be passed soon to stimulate even more home ownership. Lawrence Yun, the chief economist at the National Association of Realtors, said that, "A pattern of sharply higher sales in areas with large price declines is well established," Yun said. "Affordability conditions have consistently been a major factor in driving sales. Historically during recessions, buyers have responded to incentives and it's important for government to keep that in the forefront of stimulus decisions."

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Local Information for Bixby, OK

Latitude: 35.960898 -- Longitude: -95.878258

Other Area Cities: Bixby Broken Arrow Glenpool Jenks Sapulpa Coweta

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Bixby became a government town site with a post office in 1899. Located in the Muscogee (Creek) Nation, Indian Territory, Bixby was named in honor of Tams Bixby, a chairman of the Dawes Commission. The original 80-acre town site was approved in 1902.Many settlers were attracted to the area by the rich, though sometimes swampy river bottom land. In 1904 the Midland Valley Railroad laid tracks and built a depot in Bixby. It created factions that briefly split Bixby into two towns. The new part of town was deliberately surveyed so that the new streets did not align with the existing ones.As of the censusof 2000, The median income for a household in the city was $50,854, and the median income for a family was $58,104. Males had a median income of $39,941 versus $27,110 for females. The per capita income for the city was $24,336. About 4.3% of families and 5.4% of the population were below the poverty line, including 4.2% of those under age 18 and 14.9% of those age 65 or over. -- Source: Wikipedia.com

Oklahoma 2000 Census Population Profile Map

	Bixby	Oklahoma	United States
Population	13,336	3,450,654	281,421,906
Median age	33.7	35.5	35.3
Median age for Male	32.7	33.9	34
Median age for Female	34.7	36.9	36.5
Households	4,903	1,342,293	105,480,101
Household population	13,261	3,338,279	273,643,273
Average household size	2.7	2.49	2.59
Families	3,819	921,750	71,787,347
Average family size	3.09	3.02	3.14
Housing units	5,287	1,514,400	115,904,641
Occupied units	4,903	1,342,293	105,480,101
Vacant units	384	172,107	10,424,540

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