Ronda Butler & Associates
Ronda Butler
(918) 361-6231(918) 361-6231

Ronda Butler & Associates
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Author: Ronda Butler

10 Things You Need to Know About the Tulsa Market NOW!

Real estate is a tricky business. The market ebbs and flows based on too many different factors to count. If you live in the Greater Tulsa Area and are currently looking to buy or sell a home, you need to know what’s happening in the Tulsa market so you can make the most educated decisions possible. (And so you can show off your impressive real estate knowledge at parties.) Here are 10 things you absolutely need to know NOW!

1. Each section of town has pockets that are “hot” or are not moving. Buyers AND sellers need to look at comps for the particular area before listing or buying.

2. The 2016 selling season started early! Things have been moving since January. This is probably due to the government stating that interest rates will rise a few times this year.  (However, when they raised their rate in March, mortgage rates actually took a dip.)

3. The price range that is moving the fastest is the $100-225K range. Demand is high and inventory is low.

4. Don’t wait! When you are looking in the above price range, be prepared to be in a multiple offer situation (especially on the lower end.) If you see something that looks interesting, call your Realtor ASAP.  If it is in good shape, it will not last.

5. You have to find the “sweet spot.” Number 4 doesn’t mean you can overprice your home when selling. Even if you get an offer that is above asking price, your home will still have to appraise unless you have a cash buyer willing to pay a premium. The appraiser will look at comps just like your Realtor provided in pricing and valuing your home.

6. The luxury market (over $500K) is moving much slower (except in midtown!).  The average time on the market for a home in this price range is 15-18 months.

7. Foreclosures are getting fewer and farther between and aren’t always good deals. If they need to be repaired, you may need to be a cash buyer. Banks are getting smarter and hiring contractors to fix them up so they can ask market value.

8. You are not going to make the kind of money they do on HGTV if you are a flipper in Tulsa. Our market is more stable and not as pricey; therefore, not as risky or profitable.

9. As the downtown areas develop, midtown and downtown are becoming increasingly desirable. Houses are being refurbished and upscaled in Owen Park, Florence Park, The Pearl District, Brookside, and Cherry Street…among others. (And going for a premium!)

10. The Tulsa market is becoming more complicated as new areas develop, millennials are entering the market, and the senior population is downsizing. Talk to a Realtor before making any assumptions in this market!

If you would like more in-depth information on the Tulsa market or anything real estate related, please contact me!  I would be happy to provide you with any details you need.

Ronda Butler  |  (918) 361-6231  |


It’s Tax Season!


It’s January and many of you may be receiving a piece of mail from the Tulsa County Assessor’s office.  It will say, “This is Not a Bill,” but it’s still worth checking outmoney-and-taxes_1212-39.  You will get this notice if the assessment on your property has changed or if your property was not on the tax records the previous year.

If you purchased your home last year, you will likely get this notice if you paid more for your home than it sold for in the past.  (More on that in a bit!)  If you feel the assessment is incorrect, you have 30 calendar days to file an informal appeal with the County Assessor.  You simply call the Assessor’s office and they will set up a time for you to come in and chat with one of the people in their office.  Be prepared to bring something more than your opinion to make your case!  If you need some documentation of property values, I would be glad to provide you with recent sales in the area.

My personal experience was a bit opposite of the typical situation.  We purchased a home at a price that was pretty low for the area.  It was a government owned property, so would be considered “distressed,” but it was in good shape and didn’t really need any renovation.  When the tax assessment came out, the property was valued much higher than what we paid.  I took in our closing documents and pictures of the condition of the house to state my case.  The person at the Assessor’s office worked with me and we came to an acceptable

As a homeowner in Tulsa County, you should also be aware that you can file for a Homestead Exemption on your primary residence.  This saves you a little bit on your annual taxes and also prevents your home from being taken from you as part of a lawsuit.  You have until March 15th to file your Homestead Exemption.  You can find these forms online, or contact me and I will send you one.  (If you are a client of mine who purchased a home recently, you should be receiving one from me in January anyway!)  If you are unsure as to whether you ever filed for Homestead Exemption on your home, call me and I will look up the tax records for you to confirm.

If you are over 65 with a limited income, you may qualify for a Senior Freeze on your property.  This doesn’t freeze you taxes but freezes the value of your home.

Don’t forget that you can claim your property taxes as a deduction on your federal income taxes too!  Nobody likes taxes, but they are a fact of life.  As Benjamin Franklin stated, “In this world, nothing can be said to be certain except death and taxes.”  Taxes may be inevitable but I’m for doing everything we can to minimize them!

About Ronda Butler

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Ronda Butler

(918) 361-6231(918) 361-6231 mobile

McGraw Realtors

524 S. Main St. Broken Arrow, OK 74012