Edmond, OK Real Estate News

By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
  I’ve been on Active Rain the better part of two months now and a big chunk of that time has been the Holidays.  I’ve tried to follow the advice of so many of the Rainers by posting blogs using the formats they described, installing pictures, reading other blogs and making detailed comments.  It has been great fun.  I feel like I’m learning more and more about what’s happening in the national real estate market, not just in Oklahoma and more specifically not just in the Edmond Oklahoma real estate market. But this weekend blew my mind.   I sold not one but three homes in two days directly related to my posting here on Active Rain!   It doesn’t top my personal best of five in a day but in a real estate market that is purported to be down and for it to be January to boot, I think I’m kil...
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Here's a wonderful story about a great high school in Edmond , Oklahoma .  Soon Edmond will see tornados, lions and witches flying through the air of the Edmond North High School .  The dreams of fifty-two local high school students will come true when they star in the Wizard of Oz musical in March.  These energetic students will dance, sing and fly in the upcoming musical.  The Wizard of Oz has been an iconic American musical fantasy since 1939.  The musical was based on the 1900 children's novel "The Wonderful Wizard of Oz."  Tickets go on sale this week in Edmond , Oklahoma as rehearsals also begin.  Seats and equipment will be rented, totaling $55,000.  The money used to rent the seats and equipment came through the support of the community over a two year period. The flying effects...
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By Cynthia Hutcherson
(Re/Max Associates)
Breathe fresh air Live life with enthusiasm Enjoy friend and family Eat for health Work hard, but stop working while I am still enjoying it So with those resolutions in mind, I am heading out Friday, for Disney World to spend time with one of my daughters and her family.  I'll be gone for a long weekend and back at the office by Tuesday.  Lisa will be here if you need anything while I am gone. ps..........Let me know what your resolutions are.
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
I am back in my Edmond Oklahoma office today to start the work for this year. It is difficult to get going after 4 months of a cancer fight and losing my mother at the end of the year, but I want to have a great year for my clients in honor of my mother's courage, honesty, and will. The Oklahoma City area, as well as the state was able to weather the financial and real estate storm of 2008 with surprising numbers. Once the December stats are calculated it looks like the Oklahoma City area will only show a 10.8% drop in volume, and we should have a modest increase in average and median price, probably around 4%. The Tulsa area was hanging onto a 7% increase in the two averages, so it should have numbers that exceed OKC. For appreciation, it will require that we drill down into specific p...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
  Merry Christmas & Happy Holidays to All Many years ago, my wife and I were up late doing the parent thing on Christmas Eve.  You know the drill, Dad is doing “some assembly required” while Mom reads him the instructions poorly translated from the original “Chinese Text”.   In order to eliminate the use of colorful language on Christmas Eve, we had Letterman playing in the background. It’s really funny how traditions are formed but that year we formed a tradition that has lasted the better part of two decades now.  At the close of Dave’s show on Christmas Eve, he always has Darlene Love singing “Baby, Please Come Home”. Now it doesn’t seem like Christmas until we’ve heard Darlene sing.   Our kids are pretty much grown and we don’t do “some assembly required” anymore but I can’t think o...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
You know the economy is in even bigger danger when the Fed decides to throw the kitchen sink at the problem. The timing seems good considering that it looks like time has been bought for the Detroit automakers, and the stock market has for the time being acted in a more normal pattern by decreasing volatility. In this environment the Fed decided to force interest rates down by becoming aggressive in using funds to buy Treasuries and stocks in Fannie Mae. Friday, rates hit 5.0% fixed with no points, and small improvements in the housing industry have begun to appear. In this atmosphere let's try to predict the future and give some recommendations. Oklahoma is a Buy If you are in a stable market like ours, a 1.75% interest rate drop should get you out on the street and looking now. Housin...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
  Ring-a-ling it’s Christmas time in the city.   Or is it the country?   It’s hard to tell in Stonemill.  And that didn’t happen by accident.  Stonemill’s award winning developer David Yost designed it that way.  Stonemill is one of Edmond Oklahoma’s most beautiful places to live.  With its meandering streets, hidden walking trails and its lakes all in a park like setting, living in Stonemill gives you the feeling of living in a beautiful village hidden deep in private forest, when in reality you are actually just minutes away for two major highways that put within about ten to twenty minutes of anywhere you want to go in Edmond or Oklahoma City.  The elegant country estates of Stonemill invite a spectacular quality of life.  The tree lined streets curve gracefully through the neighborh...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
Communities - North Rose Lake Villas   North Rose Lake Villas is located just north of the Rose Creek golf course and close to Quail Springs Mall. The addition is located in the Deer Creek school district.  This neighborhood will be a gated, private community within easy reach of North Oklahoma City and Edmond and has good access to major expressways.  This neighborhood has two primary builders, D.R. Horton and Sooner Tradition.  We represent Sooner Traditions.  The quality of a Sooner Traditions Home is unequaled.   They currently have three properties either turn key or just two weeks away from completion.  All three are priced under $98 per square foot. Standard Features include: •1.      Ceramic tiled entry, kitchen, baths, and utility •2.      Master bath showers and garden tubs (t...
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By Gordon Wynn
(Keller Williams)
Winter holidays are a time when everyone comes together for celebrating, giving and helping others.  This holiday season Edmond , Oklahoma will have many wonderful events for residents and visitors to enjoy.  So bundle up and go have some fun. ·         Now - 31st - 2nd Annual First Lights: Come to the First Baptist Church at 33rd & Bryant for a nightly lighting ceremony.  Starts at 6:00pm each evening.  Free for all. ·         December 18th - 20th - Merry Memories: The UCO Music Theatre will be performing their annual jazzy holiday revue that will feature the tunes of yuletides past and present.  Songs will be performed by UCO's Searle Pop/Jazz Quartet.  A perfect way to kick off your holidays.  Price is $12 and program begins at 8pm each evening at the UCO Jazz Lab. ·         December...
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For most of the late 1990s up to 2006 I was one of the primary trainers for our company of about ninety agents and its four offices.   My main focus was post-licensed sales training.   It was my job to turn newbie agents who had just gotten their real estate license into successful profitable Realtors.   When I moved out of management and back to sales about six months ago I feared I would experience a lag.   You know that rather uncomfortable time when you have NO income.  But I didn't.  Here's the reason why.  I practiced what I preached.  My first day back in the trenches, I sat down at my new non-manager desk and had more than a slight panic attack.  It wasn't because I was afraid I couldn't do it anymore.  Here's the real kicker, I found myself fearing that I wouldn't be a "super s...
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By Jim Lee & Janet Holt Edmond Oklahoma Luxury Home Realtors
(EXIT STRATEGIES REALTY)
The English cottage gatehouse with its massive wrought iron secured gates marks the entry to Stonemill.  When you pass through the distinctive and beautiful old world gates you will be transported to a private world steeped in quiet rustic charm. Winding tree covered streets, old-world street lighting and a large nature park with lakes and trails are among the many reasons you will seldom want to leave home.  The fortunate residents of Stonemill experience an unmatched lifestyle - all of the convenience of urban living surrounded by the beauty and tranquility of a native time honored woods, home to birds and wildlife. Parks & trails dot the landscape of the gentle rolling hills.   Stonemill is a development of unparalleled quality by national award winning developer David T. Yost.  The ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
One of the best real estate investments I believe anyone can make is purchasing a model home from a builder with a guaranteed lease back. Model homes are designed to give the builder the ability to sell custom homes, and the spec homes under construction. The builder typically will be upgrades in the home to create the best impression, and they are kept in immaculate condition because first impressions do matter. The builder wants to sell the home to an investor and pay rent for two basic reasons. First, banks do not loan much for the construction of model homes and they are kept for at least two years typically, so this ties up the builders line of credit and cash. Second, the builder can write off the full amount of rent off taxes. Another good reason is that at the end of the builder...
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By Gordon Wynn
(Keller Williams)
Anyone looking to relocate to a great community with awesome schools can count on Edmond , Oklahoma .  Students in Edmond are smart and love to read.  The principal of Deer Creek Elementary recently had to pay-up on a challenge she offered her students.  Mrs. Straughn challenged her students to read 6,000 books.  She called the challenge "Cruise into a Good Book."  The students of Deer Creek Elementary not only read 6,000 books, they went far and above that mark reading over 12,500 books.  So, to pay-up on the challenge, Mrs. Straughn had to pack for a cruise in 1 minute, scuba dive in a kiddy pool and dance with a ship captain. The challenge lasted for three weeks.  The first week the students blew teachers away by reading over 4,500 books.  The second week students read over 3,700 boo...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
It sounds a little crazy to say you are bullish on real estate anywhere in the United States. The stock market is continuing to go down, the American auto industry is on the brink, and the foreclosure rate is still continuing to rise. America is in for a hard fight to get out of this recession, but improvements could be coming next year. Obama looks like he is bringing in the best and the brightest, Detroit will get their money but with reforming strings attached, and public works spending will help employment. Oklahoma is not following the downward trend of much of the country, and I would like to show some sunshine peaking through the dark clouds. Here are my reasons to be bullish. Gas Prices Gas in Oklahoma has gone down in Oklahoma from $4 a gallon to $1.70. It is estimated that in ...
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By Gordon Wynn
(Keller Williams)
Many people around the country will be looking to relocate to a different city and seeking a different lifestyle.  If you are in that category, let me introduce you to Edmond , Oklahoma .  It is a great city to work, live and play.   Edmond has a strong economy, top schools, it's close to Oklahoma City , and the City has several job openings.  Working for the City of Edmond also has great benefits.  Edmond's Job Openings: Clerical -      Parks & Recreation      Utility Customer Services Emergency Services -      Police      Dispatch Maintenance -     Water Plant      Electric      Meter Services      Downtown Community Center      Facility Maintenance      Field Services  Professional & Technical -         Urban Forestry      Parks and Recreation      Solid Waste      Public Works Admin...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Looking at statistics for Oklahoma City home sales and the surrounding suburbs there is much to be happy about. Homes below $150,000 still show a strong buyers market. In Edmond, under that price range shows a 2.86 month absorption rate and up to $200,000 is still below the six months neutral absorption rate. Rents are up for my clients this year about 10%. With that rental price to home value you can make a case for a 15% increase without exceeding the national average rent to purchase price. There are certainly pockets of overbuilt new homes, especially if you have above 3000 square feet in distant areas from schools and businesses. Carl Tiemann of First Mortgage reports that their firm had one of their best October's ever, so in popular and affordable areas people are buying and cred...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
I feel fortunate to live in Oklahoma at this perilous time. Oklahoma leads the nation in the rise of the average and median price of homes increasing. Oklahoma City home listings are only at 6% foreclosure or short sale where other areas of the country are over 50%. Unemployment has dropped to 3.5% which means it is at a level of full employment since 3.5% is the number of the hard core unemployed. The state has positive cash flow on virtually everything property you but at 20% down, so you can expect I am naturally biased toward positive cash flow versus flip. Let me give you an example. In the 1990's I flipped 20 properties at an average of $12,000 profit which was at a time Oklahoma was still suffering. However, the average price was $50,000 fixed up. It's hard to argue with $240,000...
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By Ryan Hukill - Edmond, Realtor, Team Lead
(ShowMeOKC Real Estate Pros of KW Elite)
As indicated by the frequency of my ramblings on the topic, proper home pricing is one of my largest hurdles when meeting with hopeful home-sellers. Common sense tells me that will never change, but I feel that helping those who want to buy or sell homes in Edmond better understand the market is not only my job, but it's my duty. Business Week just published a pretty interesting story about the tendancy of homeowners to hold on to unrealistic expectations in regard to the value of their homes - even in this ‘declining’ market - and how that affects the overall recovery of the market. I can’t disagree with most of their points about the ’stubbornness’ of some home sellers, and I’ve witnessed the ‘better-than-average’ effect more than a few times, but I think the blame belongs less on ho...
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By Gordon Wynn
(Keller Williams)
A new non-profit organization in Edmond , Oklahoma has been formed to help local service men and women.  Recently, a longtime  Edmond resident and Marine was able to take advantage of donations from the organization.  The Edmond Sun wrote a two-part series about the Marine, who served in Iraq and now has no money to buy food.  The Marine is currently a student at the University of Central Oklahoma .  After seeing this Marine's story, Tom Guild, another Edmond resident, wanted to start an organization to help fund service members who fought for our country. The very first committee meeting has already been held.  The committee decided that the funds will be used for Edmond 's veterans who are college students.  There will be another committee meeting Sunday from 2-3 p.m. on 1701 S. Broad...
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This is the 22nd consecutive year that Edmond , Oklahoma has been awarded the Certificate of Achievement for Excellence in Financial Reporting, by the Government Finance Officers Association. The certificate was awarded for Edmond's comprehensive annual financial reporting. Awesome job, Edmond . The award recognizes conformance with high standards for preparing local and state financial reports. The Government Finance Officers Association says that attaining this award shows a great and significant accomplishment by the government and its management team. There are five hundred and ninety counties, towns and cities in the state of Oklahoma that are eligible for the award. This time, there were thirteen local government entities that were awarded, some including Oklahoma City , Tulsa , S...
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