Investing in real estate is a personal choice,  investing always comes with a risk Realtor Donnie Weddle says during an interview this past week. He went on to say he has multiple clients looking to  purchase properties, renovate the properties and then re-sell them. The industry is still going strong in the Tulsa market during the month of August. While we are seeing day on market trending up, homes that are competitively priced move quickly. What is driving up ( DOM ) days on market?  Some sellers have decided to price their home at the high end of the price range for the current market we are in. As of this last week the Tulsa market is seeing fewer listings this month. What does that mean to buyers? Weddle says with less listings hitting the market inventory levels will be strained even more. He did say that he is seeing more price reductions being done this year compared to the same time last year. So the average person is scratching their head trying to figure out the market. Weddle said let me put it simple for you to understand.  We have less homes being listed, we have homes that are priced above what the market dictates they should sell for. The number of homes selling is slowing down due to low inventory level, rising interest rates and a number of other variables.  We are seeing price reductions across all price ranges which means sellers are ready to move on. What does this mean for investors? Real estate investors with cash or who have access to inexpensive funds will be the ones who will take advantage of the sellers who have priced themselves out of the market for the last four to six months. The buyers who could have bought those  homes have been reduced as the interest rates climbed the number who could afford them has gone down. Its simply supply and demand, more days on market your home is what is known as stale and when a home becomes stale the value of it trends down usually. One thing remains the same today as it was 50 years ago Donnie said, you make your money when you buy an investment property. A home is a great investment if bought right, renovations must be completed by competent contractors or sweat equity with attention to money management Weddle says. Today’s flippers in the Tulsa market are falling into a couple categories. The category most  would fall in are the weekend home re-modeler or paint and carpet crews. We do have some top notch residential re-developers who approach the renovations from mechanical, structural and cosmetic to make the home the best one on the block. The seasoned investor has learned where to spend the money he or she has to based on the market and the neighborhood. Home buyers are relying more and more on real estate agents to help identify the homes to beware of. The agents utilize professional partners such as inspectors, contractors and sub contractors to help guide them and their client through the field of remodels.

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