Edmond, OK Real Estate News

By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
In a place you would never suspect a great wine shope to be, The Cork and Bottle sits next to a 7-11 Store in West Edmond Oklahoma. The young owner, Jill Ogden have made it their Holy Grail to find the best wine buys under $15, and they have succeeded. Located at 16502 N. Western, Edmond, Oklahoma 73013, Jill and here equally young employees have done their best to help this much older wine buyer, me, with great selctions, and also a constant update on new musci selections. I like going into places that have a sense of community. You are not their just to buy, you are their as a friend. The unforced greeting as you walk in is real, and when you say what's new, you get not only an answer, but a personal experience with the wine they have profiled for you taste. Two days ago I came in and...
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By Ryan Hukill - Edmond, Realtor, Team Lead
(ShowMeOKC Real Estate Pros of KW Elite)
I thought I'd share an interesting blog post I recently found, which highlights 15 iPhone apps (good and bad) that focus on our industry.  Several of these I've used.. several I haven't, but the blogger makes a good point: I think mobile is really important for real estate and that, right now at least, the iPhone is the most compelling mobile platform for application development. As an agent, you NEED to be incorporating mobile into your marketing strategy. Be mindful of the mobile version of your website as you design and brand, and use technologies like SMS (text) to promote your listings.  People want information and today that means information on their mobile devices, so think these things through as you advance your marketing efforts.
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
North Rose Lake is located on the NW side of Edmond, Oklahoma and is in Oklahoma's Number One rate school sysytem Deer Creek. Deer Creek Schools is a small personalized public school system run more like a private school. The parent, teacher, and student interaction is second to none and their college preparatory emphasis is the best. The home we have for sale at $168,900 is 17600 Pond Walk Ct, Edmond, Oklahoma 73012. It is a 3 bed, 2 bath, 2 car garage home built in 2007. The home has granite tops, a fully fenced yard, and a sprinkler system front and back. A new elementary school one mile away will open in the Fall.  The neigborhood is small with under 150 lots, and it borders much higher end subdivisions. Rose Lake to the South is a golf course community that averages $600,000 in pri...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
My team of short sale experts for Edmond Oklahoma have found a gem of a house for you. It is located in the Southeast section at 1925 Walking Sky, Edmond, OK 73034 . Listed at $165,000 it could be great for a homeowner looking for excellent condition and 2636SF (mol), with 4 bedrooms, 2.5 baths, and a large yard. Cheyenne Ridge is in walking distance to the middle school, and one mile from I-35 and the Kilpatrick Turnpike, making it easy to get anywhere quickly. It would also be an opportunity for an investor looking for a high capitalization rate  in Oklahoma residential real estate. We have new short sale listings coming weekly in all parts of the greater metropolitan Oklahoma City area. If you would like to subscribe to our Oklahoma Cuty distressed property email update, contact me a...
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By Sherine Price, CRS, GRI, CHMS
(Dove Realty)
Active Listings: 1428 homes for sale in the Edmond school district Average 112 days on the market Average list price $358,389 Average list price per square foot $119.03 Average size: 2766 square feet, 3 Bed/2 Bath Sold/Under Contract: 450 homes went under contract and/or sold So we have an inventory of approximately 3 months Average 83 days on the market for the sold properties On Average, sellers are receiving 98% of their list price Average sales price $225,547 Average price per square foot $95.94 For more information on the real estate market in the Edmond & Oklahoma City Metro Areas or for your FREE/No Obligation Market Report for your Neighborhood call or email me any time at (405) 306-7770 Sherine@MovingUpInEdmond.com Go to www.MovingUpInEdmond.com to Search the MLS for available ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Sometimes you get a break. In one week I close on my personal house that I had built for me in 2005. It is in Edmond, Oklahoma, a suburb of Oklahoma City that is on the North side and has excellent demographics. Despite the fact that i paid 2005 prices, I was able to sell it for more than I bought it for. This is no small feat in 2009 where markets in other parts of the country have had a monster sell off. I know that Oklahoma lacks for the scenery of the coasts, has no mountains like the Rockies, and the culture, well let's just say it is improving. But for a place to ride out the storm of economic uncertainty, it is a good place to be. I was happy to see oil on the way back up, and we are hoping natural gas will do the same. In the meantime, I am boxing up stuff to keep, but i am also...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
My favorite place to have Starbucks in the morning.  Every morning is simply breath taking and ever changing.
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By Ryan Hukill - Edmond, Realtor, Team Lead
(ShowMeOKC Real Estate Pros of KW Elite)
I posted some information yesterday that's blowing the socks off of the people who get it, but maybe I wasn't clear enough in my initial post to help enough people 'GET IT.' I'll try to be more direct: If you or your client qualify for the New $8K Home Buyer Tax Credit, you/they can claim it on their 2008 (last year's) tax return and GET THE MONEY NOW, BEFORE BUYING A HOUSE.  This means, that money can be used toward down-payment and/or closing costs. Did everyone get that?  GET THE MONEY BEFORE BUYING A HOUSE! Now, there are some caveats to this deal, so make sure you read all the details and check with your CPA to get clarification on the advantages and disadvantages to this approach.  I'm not a Tax Pro, so make sure you cover yourself by checking with your Tax Pro on this BEFORE taki...
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By Ryan Hukill - Edmond, Realtor, Team Lead
(ShowMeOKC Real Estate Pros of KW Elite)
I've been waiting to hear back from CPA for some clarification on how the new Home Buyer Tax Credit can be used, and I finally got confirmation today... There's a twist to this new credit that EVERY HOME BUYER NEEDS TO KNOW ABOUT.  MAKE SURE YOU'RE TELLING YOUR CLIENTS! Home Buyers Incentive - NEW TWISTAbout a week ago, I told you about the new version of the Home Buyer Tax Credit, and at that time I had an idea of how this could REALLY be a benefit to someone thinking about buying a home, especially if he/she didn't have a lot of cash for down-payment or closing costs. I wanted to make sure I had correct information though, before posting it here for all the world to get excited about... I was waiting on my CPA to get clarification on the program. So here's the scenario: If you meet th...
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By Eric Richardson
(Account Exectutive, Mercury Network - a la mode)
Has the Internet made an negative impact on how we list and sell homes?  Do we just give up too much with the Internet for buyers and sellers?  Is it too easy for buyers and sellers to scan the Internet and find what they want without ever calling an agent?  With all of these articles and blogs about how to buy or sell a home have we taken the mystery out of buying or selling a home?  Thankfully, YES!  Sorry if you were thought of these questions as a rallying cry to arms to cut down that big tower that transmits all that Internet stuff but let me explain.  Honestly, I am happy that technology has moved center stage on how we do business because it's created opportunities that would have never been there before.  Can you believe that I have friends of mine that are agents in their 30's ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Two days ago I blogged about the 4  Horseman of the Real Estate Apocalypse which was Jobs, Inventory, Foreclosure Rate, and Affordability. Oklahoma City is rated as the lowest unemployment for cities over 1 million population, has a foreclosure sale rate of 4% of sales in 2008, absorption rates of 6 months or less where we sell investments, and is rated as the most affordable city to live in in 2009. This adds up to stable investment territory. I bought my personal house in 2005, the height of the real estate frenzy so I paid top dollar. Instead of taking a discount as a Realtor, I bought at list price and added items like wood floors and other upgrades. In March I close on the sale of this home with a profit. That is not something you can do in most markets right now, and the home was ...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
  When Janet and I work with relocating buyers, we send them a questionnaire in order to help target their needs.  We know that in most cases we will have only forty-eight hours with them.    We also know they need to find a house in those forty-eight hours, in one of the countries largest metro areas.  (That’s by geographic size not population.)   Under our "additional comments" section we usually always get a question regarding tornadoes.  Since the May 3, 1999 F5 tornado that ripped through the metro area and killed 44 people and destroyed over 10,000 homes, we understand the concern.   It was horrible and the destruction horrific but I have to say, Oklahoma has one of the most advanced weather services in the country.  A famed native Oklahoma son, Will Rogers, once said, “If you don...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
At the 2009 Edmond Economic Preview for economic trends, the future of real estate here was looked through the past. 2008 proved to be a difficult year, but one that showed an amazing resistance to the nationwide trend of not only lower volume but also lost value. It is estimated that since the mortgage meltdown began, $7 Trillion has been lost in home values nationwide. Brian Preston, a local realtor, and Deidre Myers, an analyst for the Oklahoma Department of Commerce presented the numbers. The details are the following: volume was down from the previous year by 12.3%, the average price of an Edmond home was up 4%, and the percentage of homes with sub-prime loans was at 5.76%. The average price rise was significant because the national average was a decline of 10.6%. So values did not...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
  Every January, I have a ritual of searching the bookstore for motivational CD’s to help keep me pumped all year long.   Sometimes the offerings have been great and sometime less than stellar.  However, this year I ran across a book that in a mere three weeks has changed my life.  The title of that book is “Money and the Law of Attraction” by Esther and Jerry Hicks.   I’m sure many out there have found these folks but it wasn’t my time until now.   They have answered so many questions I’ve had for an untold number of years.    It is really so amazing!  I can’t even began to tell you what a difference using the techniques laid out by Abraham/Esther have positively changed my life in just a matter of weeks.  I just can’t quit listening to those eight disks.  The more I put it into practi...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
    The old adage, “The Only Consistent Thing Is Change” seems to be truer today than ever before.  I have to be really honest.   When I got into real estate some fifteen years ago I was much more advanced than technology.   I envisioned having the tools we now take for granted everyday.   I wanted a fax in my car.  Now I have e-fax on my iPhone.   I hated writing contracts by hand because my handwriting was merely scrawl.  Now not only can I type in forms, with new voice recognition software I recently dictated my first contract and emailed it without ever picking up a pen or touching a keyboard.    I will really know I have arrived when I’m able to dictate, email, and have the buyers and sellers sign electronically from the Bluetooth hook up on my iPhone.   Can you imagine, meeting wi...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
One of our state banks has given up special financing for investors who want to buy residential real estate in our state. The only people who cannot qualify are investors who live in California, and in certain areas of Florida. Those limits are due to the problems with the economies of those states, and the dramatic drop in home values. What is being offered is 20% down financing with rates below 5% fixed on 30 year financing. One has to have a credit score of 720, pay two discount points, and own no more than 6 homes including a personal residence. This can really make your monthly cash flow outstanding. Tpically, Fannie Mae limits you to 4 properties total, and the rates are higher than a normal owner-occupant loan. This is a perfect time to have this financing because prices are bett...
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By Gordon Wynn
(Keller Williams)
More fun is on the way to Edmond, Oklahoma, just in time for the spring and summer.  The spacecraft-themed Chitwood Park will launch a fun, new design for kids of all ages in March, weather permitting of course.  The design will expand on the current spacecraft theme of the old rocket slide with new custom-made playground equipment. The original rocket slide has become somewhat of a safety issue over the years.  Children are able to crawl through spaces that they shouldn't have and pull bars off.  The rocket slide was added to Chitwood Park in the late 1960s.  Many of Edmond's adult residents can remember playing on the rocket slide as a child. Since the rocket slide is no longer in compliance with the Consumer Product Safety Commission guidelines, the Edmond Parks and Recreation Depart...
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By Gordon Wynn
(Keller Williams)
The Centennial Groves are a gateway to Edmond , Oklahoma and they are getting a financial boost from the Edmond City Council for improvement projects.  The Centennial Groves welcoming site will receive just over $34,000 to plant new trees and for a good irrigation system.  The Centennial Groves project will include long-term development and quality of tree parks as well as other landscaping at 2nd Street , 15th Street and 33rd Street along I-35. A budget of $187,000 was approved and setup by the City Council for Street Scape and median maintenance which included Centennial Groves.  Some of the money will pay for contracting services.  Some of it will also pay for electrical costs.  Some money will also be dedicated to paying for mowing the grass and tree replacements and the expenses of...
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By Cynthia Hutcherson
(Re/Max Associates)
For those of you who have lived in Edmond for a while, it is no secret that Edmond has a fine park system.  What I didn't know was the number of parks that are maintained by the city.  And some of the parks I thought were maintained by neighborhoods are actually city maintained!  The city parks and recreation department is one of the reasons that young families flock to Edmond to establish a home for their young families.  Even this senior citizen can enjoy the amenities of the city parks.  There are 26 total parks maintained by the City of Edmond. The surprise (for me) neighborhood parks maintained by the city are the following: Kelly Park Meadowlakes Park Whispering Heights Park Westborough Park Brookhaven Park  and many more. What a simple pleasure to throw some sandwiches in a sack ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Sorry for the delay in my blogging lately. It seems cancer can be a full time job. I just got back from MS Anderson in Houston to have to deal with two investor offers on a new already rented home. The orginal list price was $175,000, but the builder financed this home with  was his last since that company was absorbed by another, and the note was due. We lowered it for a quick sale to $149,900, paid the 87.5% lof the first month leasing fee, and had a solid year lease. This was also in East Edmond Oklahoma where the absorption rate is 2-3 months in this price range, and where the average and median price went up over $10,000 in 2008. Take that Miami, Phoenix, and Las Vegas. Oklahoma may be the place to be that is stable. I know I shouldn't be insulted by one investor offering $130K, bu...
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