|Closing Conducted by:||Title Companies, Lenders, Real Estate Agents, Attorneys|
|Primary Foreclosure Method:||Judicial|
|Process Period:||4 - 7 months|
|Notice of Sale:||Sheriff|
|Redemption Period:||Until Confirmation|
|Income Tax:||0.50% - 5.00%|
|Median Property Tax:||0.74%|
|Property Taxes by County:||http://www.tax-rates.org/oklahoma/property-tax#Counties|
|Transfer Fee:||Deed 0.15%; Mortgage 0.02% - 0.1%|
Harmon: 1 in every 1,532 homes is distressed
Logan: 1 in every 3,492 homes is distressed
Le Flore: 1 in every 4,381 homes is distressed
Grady: 1 in every 4,540 homes is distressed
Love: 1 in every 4,566 homes is distressed
Tulsa will grow in popularity: Tulsa may be in line for some added attention from prospective homebuyers. In particular, more people may migrate to Tulsa in an attempt to seek city living with relatively affordable prices. At $136,967, the median home value in Tulsa is below the state average, which bodes well for first-time buyers. At a time when prices have appreciated for nearly a decade, Tulsa's value proposition may be too good to ignore.
Historic appreciation will continue: Despite the pandemic, real estate in Oklahoma remains red hot. As it turns out, pent-up demand was enough to maintain an active housing sector. However, there simply aren't enough listing to keep up with demand. As a result, sellers will increase asking prices to line up with the competition. Home values may increase by as much as 7.0% over the next 12 months.
People will leave big cities: Metropolitan areas have become dangerous because of the pandemic. As a result, more people have been allowed to work from home, essentially freeing them from having to live within proximity to work. That said, it only makes sense that people will want to escape more expensive cities and trade their tired confines for more spacious suburban homes.