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 Enid, OK

Latitude: 36.400583 -- Longitude: -97.880784

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Enid was founded during the opening of the Cherokee Outlet by land run in 1893. Today, the history of this era is preserved at the Museum of the Cherokee Strip, located in Enid. Vance Air Force Base was founded in 1941 on land leased by the city of Enid to the United States Army Air Forces, now the United States Air Force. Enid was once home to Champlin Petroleum; the H. H. Champlin mansion is on the National Register of Historic Places. The town's early history was captured in The Cherokee Strip by Pulitzer-winning author Marquis James, who recounts his boyhood in Enid. Other well-known natives include astronaut Owen K. Garriott, movie actress Glenda Farrell, photojournalist David S. Holloway, opera singer Leona Mitchell, and her brother Hulon W. Mitchell (also known as Yahweh ben Yahweh), contemporary messianic figure and leader of the Nation of Yahweh. Hall of Fame basketball coach Don Haskins was born and raised in Enid. -- Source: Wikipedia.com

Oklahoma 2000 Census Population Profile Map

	Enid	Oklahoma	United States
Population	47,045	3,450,654	281,421,906
Median age	37.2	35.5	35.3
Median age for Male	35.2	33.9	34
Median age for Female	39	36.9	36.5
Households	18,955	1,342,293	105,480,101
Household population	45,320	3,338,279	273,643,273
Average household size	2.39	2.49	2.59
Families	12,565	921,750	71,787,347
Average family size	2.94	3.02	3.14
Housing units	21,255	1,514,400	115,904,641
Occupied units	18,955	1,342,293	105,480,101
Vacant units	2,300	172,107	10,424,540

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