The seller’s market continues around the Oklahoma City Metro Area, but it has softened somewhat (ever so slightly) during our “summer swoon”.  Mortgage rates trended downward at the beginning of last week to some of their lowest levels since February. Construction spending rose, mortgage applications decreased, and ADP employment increased. Jobless claims edged lower and continuing jobless claims fell to a new pandemic low. Average hourly earnings and average weekly hours increased. Government payrolls, manufacturing payrolls, non-farm payrolls, and private payrolls all rose as well. The unemployment rate fell, while the participation rate climbed.  So far, so good, but if you’re in the market to buy or sell, stay on your toes!! 

For a bullet by bullet market recap, check out the data below!

Market Recap

  • Construction spending rose slightly in June, climbing 0.1% month-over-month with single-family homebuilding up 1.8%.
  • Mortgage application submissions saw a composite decrease of 1.7% during the week ending 7/30. The Refinance Index fell 2% while the Purchase Index dropped 2% — likely reflecting the ongoing inventory shortage.
  • Initial jobless claims fell to 385,000 during the week ending 7/31. Continuing jobless claims fell to their lowest pandemic level during the week ending 7/24 – 2.93 million.
  • The employment situation improved in July. Average hourly earnings increased 0.4%, while average weekly hourly inched up to 34.8. Government payrolls rose by 240,000, manufacturing payrolls rose by 27,000, non-farm payrolls rose by 943,000, and private payrolls rose by 703,000. The participation rate inched up to 61.7% while the unemployment rate fell to 5.4%.

If you’s like specifics on your neighborhood, community, or home then give me a call, or shoot me a text/email.  I can pull together a report for your immediate area in about 5 minutes!  Stay safe out there and enjoy the last few weeks of Summer!

Robert Gideon II

 

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Local Realtor® Earns NAR’s Military Relocation Professional Certification

FOR IMMEDIATE RELEASE:

Robert Gideon II Earns NAR’s Military Relocation Professional Certification

Military Personnel and Veterans Benefit from Professional Expertise in Military Benefits, the Relocation Process, and Support

Oklahoma City, Ok, 12/9/2020 — Robert Gideon II with NextHome Central Real Estate has been awarded the nationally recognized Military Relocation Professional Certification. The National Association of REALTORS® awards the MRP certification to REALTORS® who help military personnel, veterans and their families find housing that lets them make the best use of their benefits and serves the unique needs of military life.

When military staff and their families relocate, the services of a real estate professional who understands their needs and timetables can make the transfer easier, faster, and less stressful.  REALTORS® who earn this certification know to work with active duty military buyers and sellers, as well as veterans.

The certification provides NAR’s members with resources to accommodate current and former military service members at any stage of their military career, and is an approved elective for NAR’s Accredited Buyer’s Representative designation. To earn the MRP certification, REALTORS® must be in good standing with NAR; complete the Military Relocation Professional (MRP) Certification course, and complete two webinars.

For more information about the MRP certification, visit www.militaryrelocationpro.org

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LOCAL REALTOR® AWARDED SRS DESIGNATION- Robert Gideon

LOCAL REALTOR® AWARDED SRS DESIGNATION

FOR IMMEDIATE RELEASE               Contact:        (Robert Gideon)

            (NextHome Central Real Estate – bobby@nexthomecre.com)

(Oklahoma City, Oklahoma), (6/25/2020) — Robert Gideon II with NextHome Central Real Estate, has been awarded the Seller Representative Specialist (SRS) designation, the premier seller agency designation in the country. The SRS is conferred by the Real Estate Business Institute (REBI) and is an official credential of the National Association of REALTORS®.  Robert joins an elite group of real estate professionals from around the world who have earned the SRS designation. All were required to successfully complete comprehensive coursework in seller representation, demonstrate significant seller representation experience and expertise, and subscribe to the REALTOR® Code of Ethics.

Along with his SRS designation, Robert has previously earned the Accredited Buyer’s Representative designation from the NAR, the AHWD certification, and the C2EX Commitment to Excellence endorsement for his “dedication to practicing real estate at the highest professional standards”.

SRS is wholly owned by REBI and focuses specifically on representing the real estate seller. Formerly the Council of Real Estate Brokerage Managers (CRB), REBI is a not-for-profit affiliate of the National Association of REALTORS®. You may contact REBI by calling 800-621-8738, e-mailing info@rebinstitute.com, or visiting REBInstitute.com.

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Seller’s Market – OKC Metro 2020

Realtors all over social media are shouting it from the rooftops across the Metro Area: “It’s a seller’s market!”, “It’s a seller’s market!”, but what does that mean exactly? Simply stated, a seller’s market occurs when demand exceeds supply, or when there are more buyers seeking to purchase homes than there are available homes on the market.  This market condition often leads to multiple buyers being interested in purchasing the same property. A seller’s market is a fantastic time to sell your home, but what do you do when you’re a buyer?  How do you ensure that your offer doesn’t get shuffled to the bottom?  When it’s a seller’s market, you can’t always compete against an all-cash offer from a buyer willing to close quickly. But there are some things you can do to make a great impression with sellers:
  • Making a higher down payment – 20 percent or more. Sellers will worry less that you won’t qualify for a mortgage and know you are a serious buyer.
  • Offering to make a larger earnest money deposit can impress: it signals you won’t easily back out of the deal.
  • Shortening the contingency period and not asking for large seller concessions shows you’re committed to moving quickly.
  • For the right seller, a heartfelt “buyer’s love letter”, or video, may tip the scale in your favor. (This is one of my favorites)
  • Choose a knowledgable agent who is an expert in contract writing and negotiations.
Sometimes it’s not the highest-priced offer that wins the day, but a buyer willing to go the extra mile!  If you want to learn more about our current market conditions and what it means for you and your family, give me a shout!
Your trusted neighborhood expert,
 Robert Gideon
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Accredited Buyer’s Representative

I am proud to announce that I have completed the education and practical experience requirements to earn my ABR Designation from the National Association of Realtors.  The Accredited Buyer’s Representative (ABR®) designation is designed for real estate buyer’s agents who focus on working directly with buyer-clients. This designation, and education, provides me with valuable real estate information that elevates my skills and knowledge of our market.  This designation provides me with ongoing specialized information, programs, and updates that help me stay on top of the issues and trends in successfully representing my clients.  Through earning this designation I am also provided access to REBAC members-only marketing tools and resources, which provide an additional competitive edge for me and my clients.  I’m thrilled to earn this endorsement and be able to better represent my clients in our competitive market!  If you’d like to learn more about our business model or my unique value proposition and what I can offer you as your Realtor, feel free to reach out anytime!

7 Reasons to Hire an ABR (YouTube)

“LOCAL REALTOR® ACHIEVES NATIONAL RECOGNITION

Oklahoma City, Oklahoma – Robert Gideon II with NextHome Central Real Estate has been awarded the Accredited Buyer’s Representation (ABR®) designation by the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS® (NAR).

Robert joins more than 27,000 real estate professionals in North America who have earned the ABR® designation. All were required to successfully complete a comprehensive course in buyer representation and an elective course focusing on a buyer representation specialty, both in addition to submitting documentation verifying professional experience.

REBAC, founded in 1988, is the world’s largest association of real estate professionals focused specifically on representing the real estate buyer. There are more than 40,000 active members of the organization world-wide. THE NATIONAL ASSOCIATION OF REALTORS®, “The Voice for Real Estate,” is the world’s largest professional association, representing over 1.4 million members involved in all aspects of the real estate industry.

You may contact the Real Estate Buyer’s Agent Council by telephone, (800) 648-6224, by email, [rebac@nar.realtor], or by visiting the REBAC website, [www.REBAC.net].”

 

 


ABR® (Accredited Buyer’s Representative) and ABRM (Accredited Buyer’s Representative Manager) are designations of

REBAC (Real Estate Buyer’s Agent Council) and THE NATIONAL ASSOCIATION OF REALTORS®

Your trusted neighborhood expert,

Robert Gideon

Covid-19 Real Estate Market Update

I recently had the pleasure of being interviewed by The Journal Record and News Channel 9 in OKC concerning the Covid-19 outbreak.  The links to those interviews are below, along with my written thoughts on the pandemic and its possible affects on our real estate market.

Local Real Estate Industry Bracing For Potential Impact Amid Coronavirus (COVID-19) – News Channel 9 – OKC

Housing Hesitation? Financial Fears Could Put Brakes on Home Sales – The Journal Record – OKC

We are doing our best to be respectful of the recommendations of Governor Stitt, Mayor Holt, and our Nation’s leaders while we conduct business across the metro area.  In our industry people are motivated to buy and sell homes for many different reasons, and right now we are focused on helping those who currently have deals outstanding or would be otherwise homeless if we don’t push forward with their transaction.  We have asked our Realtors to conduct their meetings virtually whenever possible, drive in separate cars when showing properties, and to keep a respectable distance from their clients when meeting with them face to face. We are considering, and utilizing, alternative marketing opportunities, like virtual tours and video walkthroughs for open houses, property tours, and marketing homes to sell.

My thoughts on how Covid-19 will affect the local housing market changes by the hour.  Initially, I thought that oil prices would have a greater immediate effect on our local market…enter Rudy Gobert and the NBA shut down, then our real estate conference in Orlando was cancelled, and finally a state of emergency was declared.  Now I fear that our biggest issues (obviously outside of the immediate health risks to the general public) is the direct impact on our local economy, especially hourly employees, self employed individuals, small businesses, and those in the service industry.

There are several avenues of concern from the real estate perspective. Demand for housing could be affected due to the stock decline, eroding down payments, and concern about a buyer’s future employment.  Furthermore, social distancing could weigh on the ability to transact. Current home owners could be hurt if their incomes are impaired, resulting in more delinquencies and potentially more inventory coming to the market.  Wage declines from social distancing and economic decline could affect renters’ income and landlords in turn. If landlords are hurt, that inventory could come to the market. And finally, the effects I just mentioned are due to social distancing, but actual illnesses could compound the decline in demand and supply.  Stay with me, it’s not all bad news!!

Currently, we are hearing that some lenders in our market are overwhelmed from the volume of refinances due to rate declines and we have yet to see a slowdown affect our office specifically, but that is obviously subject to change.

The National Association of Realtors recently did a flash survey and the majority, 88% to be exact, of sellers have decided not to make a change in their current home listing.  Half of all members cited there was no notable change in client behavior regarding the stock market and mortgage rate changes.

It is safe to say that nobody really knows how this unprecedented situation will impact the housing market, but it is almost certainly going to have a major impact!  As you take stock of what is going on around us, remember that in the history of the stock market, after a decline the market has recovered 100% of the time, and after a recovery, the market has gone on to reach a new high 100% of the time!  So stay home, stay safe, and stay informed!

Your neighborhood expert,

Robert Gideon II

NextHome Central Real Estate

 

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I recently received the “At Home With Diversity” certification from the National Association of Realtors!  According to the NAR: “At Home With Diversity (AHWD) is an NAR certification program designed to present a picture of the changing face of the real estate industry. Since 1998, the At Home With Diversity program has prepared over 20,000 REALTORS® to work effectively with and within today’s increasingly diverse pool of homebuyers.”  This course addresses the topics of diversity, fair housing, and business planning development.  Per the NAR Website: “The At Home With Diversity Course teaches REALTORS® how to:

  • Assess and understand attributes of diversity in local markets and their impact on the real estate industry
  • Understand basic competencies to earn the confidence of potential buyers and sellers, regardless of race, ethnicity, religion, gender, handicaps, familial status, or national origin
  • Build a business plan that minimizes risk and successfully services all types of clients”

My hope is that this course helps convey to my clients that they are working with a dynamic Realtor with expertise that transcends cultural barriers.  I am grateful for the instructors who gave their time to present meaningful and impactful information in such a useful way!

Your neighborhood expert,

Robert Gideon II

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My Commitment to Excellence

On February 20th, 2020, I was honored to receive the “Commitment to Excellence” endorsement from the National Association of Realtors for my “dedication to practicing real estate at the highest professional standards”.  This endorsement reiterates, and underscores, my personal commitment to serve my clients and team members to the best of my ability.  While humbling to receive this endorsement, I look forward to my continued education as I work to master my craft and continually hone my professional skills.  Earning this endorsement would not have been possible without the amazing team members (NextHomies) that I have surrounding me every day.  Your combined work ethic and passion to pursue a career where we focus on humans over houses provides me with the motivation and energy to not only enjoy my career, but also thrive.

 

Humbly and gratefully yours,

Robert Gideon II

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First Impressions Last (Why Curb Appeal Matters)

Thinking about selling in the future and want to know how to prepare your home?  Start with the simple things you can do yourself and consult a professional (like me) before making any sweeping changes to your property.  Home shopping is visual and emotional. Buyers are searching for a place to build a life and memories form the overall property experience starting with the street view, to the back of the home, and every detail in-between. Initially, buyers will focus on the property’s features, cleanliness, and condition. Next, they will begin to hone in on the details, the specific parts of the exterior, interior, yard, and more. Most importantly, buyers comparison shop. They look at a median of 10 or more homes during the shopping process and compare the features, condition, and price of your home against your competition. They will equate a relative value of your property in comparison to the market based on the presentation. Bottom line – the appearance of your home will directly impact the maximum dollar you can get in today’s market.

To maximize your profit, generate the most interest, and show value above other competing homes, your home should sparkle. Curb appeal, fresh paint, clean carpets, no clutter, working fixtures, trimmed yards, and inviting décor are among the items to spruce up for the sale.  If your home needs larger repairs please consult a professional as there are many things to consider before making improvements on a property you intend to sell.  If you have specific questions about your property, give me a call, or send me a message, and I’d be happy to provide my professional opinion! Lastly, don’t forget that we have a designer in house!! So if you aren’t keen on recent paint color palettes or decorating trends, it’s no big deal!  We can still help!

Your trusted neighborhood specialist at NextHome Central Real Estate,

Robert Gideon II