Real Estate Auctions Oklahoma

Real Estate Auctions Oklahoma

With over 55 years of real estate experience, Wiggins Auctioneers has solidified its presence in the Oklahoma real estate auction market. Our team of professional auctioneers connect with the most qualified buyers and are committed to providing timely and efficient real estate transactions. Real estate agents at Wiggins Auctioneers help clients with a range of properties including homes, commercial buildings, acreages, land, and farms.  

At a real estate auction, one of our licensed auctioneers will handle the process of transacting a property. Similar to other auctions, real estate auctions are an innovative way to sell real estate. Since this is done in a public environment many of the sales involve intense and competitive bidding. We provide the necessary valuation and marketing of your assets so that you can receive the maximum benefits possible. This post will cover how the quality of life has impacted Oklahoma City real estate investors. Read on to learn more about Oklahoma’s growth in the housing market and the benefits of selling your real estate at an auction!

Oklahoma Housing Market

Oklahoma Housing MarketWithin the last year, the Oklahoma housing market has seen an exponential growth of 6.8% and it doesn’t seem it will stop there. Some home buyers deem it ideal to invest in a new home. However, for those wanting to save more money, the smarter move is to look into Wiggins Auctioneers latest Oklahoma and Oklahoma City real estate auctions. The metro area has one of the most affordable places to own a home in the U.S. Even now the OKC real estate market is continuing to do well for buyers, sellers, and investors. Another notable fact in the real estate market is that in Oklahoma City, rental property investors have the benefit of buying into a stable growing market where selling prices are nearly 25% below the listing price. 

Oklahoma Property Investors

It’s a common occurrence to see people buy or sell homes in Oklahoma, but there is also an increasing number of people who come into the area looking for investment property for sale in Oklahoma City. Here are five main reasons why Oklahoma City real estate investors are making a good investment.

oklahoma city real estate auctions

5 Reasons Why You Should Invest in OKC

Oklahoma Economy 

Oklahoma’s economic expansion has put it in a unique position within the job and real estate market. Over the years, Oklahoma City has been the epicenter of the nation’s gas and energy industry with household names such as Devon Energy, Chesapeake Energy, and Continental Resources. Due to the city’s growth in government and military employment, there has been an increasing number of employment opportunities. For this reason, Oklahoma city real estate investors should consider taking this opportunity to invest in a market that offers stability and a diverse economic base. 

Living in Oklahoma City 

Low tax rates and affordable land and housing are a few of the main reasons people move here from other parts of the country. Since the beginning of the MAPS program in 1993, Oklahoma City has undergone various transformations. These projects are built debt-free, and over time the money is collected and spent without burdening future taxpayers. Quality of life in Oklahoma City has improved and in return, the growing economy has also brought lots of job opportunities. Cost of living in Oklahoma City has a score of 91.5 compared to the average 100, meaning your dollar can go further than it would in other U.S. cities. 

Education

Oklahoma City has a diverse range of institutions for educational purposes. As of right now, there are over 120 primary and secondary schools available to choose from with some of them being located in locations such as Edmond, Oakdale, Deer Creek, and Bethany. For college students, Oklahoma City has several large universities like Oklahoma City University, University of Oklahoma, University of Central Oklahoma and Oklahoma City Community College. 


The Next Move

With the high taxes, government regulations, high crime rates, and the education system it’s no surprise that people are moving out of big cities like New York City and Los Angeles. Compared to the living and economic conditions in these two cities, Oklahoma City offers so much more. One of the main reasons people are moving to Oklahoma all comes down to affordability. In fact, the cost of living in Oklahoma City is 54.4% cheaper than New York City.

Living Comfortably 

Oklahoma City real estate investors are benefiting from the increase in median home sales prices. Now the question is, how much money do you really need to live comfortably in Oklahoma? 

  • Income needed: $44,180

  • 50 percent for necessities: $22,090

  • 30 percent for discretionary spending: $13,254

  • 20 percent for savings: $8,836

As with most locations, prices and percentages will vary depending on each owner, however, there is nearly a three thousand dollar cushion beyond the amount needed to live comfortably. Other locations like New York City and Los Angeles just cannot compare to the quality of life here in Oklahoma City.

Cash Realty and Auctions - Selling a House in Oklahoma

cash realty and auctionsA real estate auction is the quickest and time-efficient way to convert your assets to cash. To sell at auction is an innovative method that involves a free market environment and the competitive bidding of qualified targeted buyers. Due to its quick turnaround, you can sell your property at an auction as is and have a set day of sale. Wiggins Auctioneers will provide all the marketing services needed so that you won’t have to stress about additional property conditions. Chances of selling your property at auction are higher in this dynamic setting than if you went through a more traditional route.  

How Cash Realty & Auctions Work

Deadlines or set sale dates motivate buyers by encouraging them to research beforehand so that they are prepared to buy. In the case of real estate auctions, buyers must also be qualified through a nonrefundable deposit. With Wiggins Auctioneers you’ll not only have a higher chance of a successful sale, but also the advantage of having a reliable source to prepare for the auction. 

Benefits of Selling Real Estate at Auctions

no reserve auctions oklahoma cityFor those who want to maintain control of the selling process, making a sell at auction is the best option. Below are just a few of the benefits when you choose to sell at auction: 

  • Focuses attention on your property alone

  • The seller sets the day of the auction

  • Setting the terms of the auction

  • Eliminates prolonged negotiations.

  • Non-refundable earnest money.

Best Bids

At an auction, each bid is an offer to purchase or an offer to buy. Economic factors can sometimes favor buyers while other times sellers have the upper hand. There are other factors that influence the price bidders pay such as:

  • Bidding format

  • Terms of the auction

  • Type of auction 

In a “No Reserve Auctions,” the seller has to sell to the highest bidder. On the other hand, there are “Reserve Auctions” that allow the seller to refuse the highest bidder which can be seen in many real estate auctions. Wiggins Auctioneers will counsel you on which auction type will give you the maximum dollar return.

Seller Responsibility at an Auction

Below are some responsibilities that sellers have in any real estate transaction:

  • Provide the auction company with title information

  • Provide the auction company with property descriptions

  • Make disclosures of known defects

  • Be realistic about the value of the property 

 

What Wiggins Auctioneers Offer 

oklahoma real estate auctions

When using the auction method, properties are being exclusively showcased among targeted and qualified buyers. At Wiggins Auctioneers we will evaluate your assets and determine the best methods to achieving your goals. Whether you are buying or selling we offer services such as:

  • FREE Confidential Consultation

  • Professional & Knowledgeable Auctioneers/Auction Managers

  • Award-Winning Marketing Team

  • Two local offices, Enid and Fairview

  • Impressively Illustrated Brochures

  • Reaching the Most Qualified Buyers

  • Substantial Web and Social Media Presence

  • Cost Effective Operations/Fiscal Responsibility

  • Experienced Setup & Assist Personnel

  • Advanced/Modern Auction Equipment

  • Continuing Education of Marketing and Real Estate Methods

  • A Commitment to Excellence

Don’t hesitate to reach out or you might just miss out on the best opportunity for selling your property. Take the first step in the right direction by giving us a call to set up a free consultation today!