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Tulsa Considered Good Bet Despite Foreclosures and Bank Repo Listings

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By : John Cutts    99 or more times read
Although Tulsa, Oklahoma has its share of bank repo listings and foreclosures, the city still made it to the top of the list of the best areas for conservative real estate investors. According to Local Market Monitor, the Tulsa housing market is the most highly favored among traditional property investors.

Regardless of the presence of Tulsa foreclosure listings, October rankings from Local Market Monitor showed that investors favor the city out of 315 other U.S. metro areas. According to the real property analysis firm, the area is the least likely to produce future investment losses; and although it is also not expected to provide spectacular returns, steady profits can be expected by those who invest in its housing market.

Amid the presence of Oklahoma foreclosure listings, it seems that the state is considered a viable investment venue for conservative housing investors as two of its metros are ranked first and second in the Local Market Monitor report, with Tulsa ranked first and Oklahoma City ranked second.

Most local housing investors agree with the analysis of the real estate research firm, stating that although bank repo listings and foreclosed homes are primary concerns in Tulsa, the city offers investors a steady investment place. However, local investors stated that those who wish to invest in real estate must choose Tulsa only if they are willing to stick it out for the long haul and if they have the patience to do so.

Although properties under list of foreclosures will remain a factor in the city's housing market performance in the coming years, the assessment from Local Market Monitor predicts that housing prices will remain flat until 2011. Prices are then expected to increase by one percent in the succeeding year and by two percent in the third year. The average price of a residential property in the city is around $150,400.

The firm based its analysis on a number of factors, including the difference between actual home prices and prices as they should be, unemployment, population growth and recent changes in housing prices. People behind the analysis report also stated that income growth will be the primary determining factor for future price increases in residential properties. With the rate foreclosures and bank repo listings are going, the area is given a great chance by market observers to maintain a balanced housing industry.

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