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Real Estate Investments - Tulsa Rated As a Great Place for Home Buying

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By : John Cutts    99 or more times read
Homebuyers and people involved in real estate investments are encouraged to choose Tulsa, Oklahoma, as one of their destinations. This was based on the nationwide ranking of U.S. markets considered ideal for home buying activities for the current year. Tulsa was ranked fifth out of more than 100 metro areas in the country.

People who buy foreclosures in Tulsa are expected to benefit from the high affordability rating of the city. The potential of property values to appreciate over the years and the relatively low unemployment rate of the metro area also played a role in giving Tulsa a high ranking. Foreclosure numbers, although a concern in the region, are not as high as in other metros, thereby giving the area a good housing market value.

Local industry analysts admit that Oklahoma Foreclosures are as much a problem in the state as in other U.S. areas, but they stated that the depth of the problem is not as deep as in other foreclosure hotbeds like Nevada, Arizona, and California. However, these distressed properties did play their role in pulling the prices of housing units down in some key areas of the state.

For homebuyers and people interested in real estate investments, the low prices of homes in the city will benefit them in their transactions. Local housing data showed that the average price of dwellings in Tulsa was around $114,000 as of the end of the 2010 third quarter. Values of residential properties in the city have gone down by a little over 3.5% last year, enough to provide affordable properties to buyers without harming their long-term investments too much.

Tulsa was also recommended as a great place to buy foreclosure homes because of properties' potential to appreciate over the years. Part of the reason is the relatively strong job market of the city. Compared with other U.S. metro areas, Tulsa's 7.4% unemployment rate is reasonably steady.

Real estate investments are also expected to thrive in the area since they are unlikely to get bogged down by too many cheap foreclosures in the market. The region had an estimated foreclosure rate of two housing units per 100 households last year.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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