Oklahoma City, OK Real Estate News

By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
I did this video and was going to post it earlier in August about being a home buyer in August or September as a great time in Oklahoma City not to pay too much. We have had a summer where multiple bids were the norm and prices went up because of low supply. Now with Labor Day coming the market has slowed and homes that could have sold earlier because of getting in by the start of school have lost that advantage. Some Oklahoma City home owners take their homes off the market if it is not important to get a contract, but if a home is still being listed this should look like opportunity for you. If you are the only offer on a home then your chances of getting a fair price goes way up, and maybe even doing better than that. Just make sure your lender has already qualified you, close when t...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Top 3 Listings that were viewed on my OKC real estate blog. I love the ability of my RE/MAX office here in Oklahoma City to show the best listings in Oklahoma City. They are the 'featured listings' in our local MLS Oklahoma City real estate market. Being a part of an advanced real estate tech savvy company like RE/MAX Preferred Properties in Oklahoma City makes it fun to do business here. Oklahoma City needs to encourage more technically savvy and internet enhanced real estate agents to promote good properties in OKC.    Here are the top three listings that were viewed on my site this past weekend in OKC: 8501 NW 70th Street in Oklahoma City, OK 17216 Hawks Ridge Lane in Edmond, OK 4415 Thompson Avenue in Oklahoma City, OK If you need a complete list of highly viewed properties in Oklah...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Crown Heights OKC Historic HomesLatest List of Historic Homes for Sale in Crown Heights Oklahoma CityMy latest list of historic and very precious Crown Heights OKC Homes for Sale! I love Crown Heights! It's one of my the MOST requested neighborhoods to show homes here in Oklahoma City. Need to see the best listings for sale in OKC in Crown Heights. Well, they are here, right below! Review and call 405-414-5022 for a personal tour. You can Text me at that number, also!Crown Heights OKC Historic Homes for Sale Oklahoma City Real EstateThe above Real Estate information on Historic Homes and Crown Heights OKC Homes for sale is provided by Valerie McEvoy, an experienced and successful Oklahoma real estate professional. Valerie can be reached via email at valeriemcevoy@remax.net or by phone a...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Whitehall Homes for Sale and Sold Report July 2015New July 2015 real estate report I did for this wonderful NW OKC neighborhood, Whitehall. Average Days on Market - 17 Selling Price vs. Asking Price - -3% Median Sold Price - $231,500 Here's the latest breakdown of real estate activity, sales and price trends in Whitehall Homes for Sale: There are no Single-family homes in this area currently on the market. This makes it difficult to estimate how long it would take to sell or buy a home and the actual time to sell becomes the only indication. Homes that sold in the last 3 months have taken up to 35 days while the average time is 17 days. The minimum is 0 days.Of the 5 2+ bedroom, 0+ bath, Single-family homes in this area that sold in the last 3 months, 0 got over their listing price, 5 g...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
One of the real sticking points in buying or selling an Oklahoma City home is the whole house inspection. The inspector who in Oklahoma is licensed by the state is not someone who is a specialist in every field, in fact they may not be a specialist on anything. This is not necessarily a problem because all inspection requirements have to be proved by someone licensed in plumbing, electrical, mechanical, and structural licenses. The problem sometimes come with people assuming that the inspector checks for code updates. If that was the case then homes would be unsellable. Code is changing constantly and not always for safety reasons. For instance when i had a home built in Edmond Oklahoma in 2005, the sprinkler controls had to be above ground which I thought was stupid. Two years later Ed...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
July 2015 Val Verde Oklahoma Homes for Sale and Sold Report Val Verde OKC Homes for Sale and Sold ReportValerie McEvoy RE/MAX Preferred PropertiesAs a Realtor® who focuses on the real estate market in NW OKC, I love to educate and provide to clients, the information on great neighborhoods like Val Verde OKC so they always have the best information on homes for sale trends and real estate activity. I think it's very important to do more than just send out listings via email or share home improvement tips. I believe that being a RE/MAX professional means that you share the strong data our office provides for prospective home buyers and home sellers in all neighborhoods in Oklahoma City. Val Verde is one of my favorites to show and sell and I want to be the kind of real estate professional...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 For first time Oklahoma City homebuyers there is not a clear cut winner as to what the best loan is for you, but I hope this video will explain advantages to each. FHA starts at a lower down payment of 3.5%, can use lower credit scores for qualification like 640 for a low interest rate, has larger ratios for debt amounts allowed, and often special programs for down payment assistance. The negative for those staying in the home a long time is that the mortgage insurance never leaves the home as long as it isn't paid off. Convention 5% is of course higher that FHA, has tighter qualifications for debt, and need a higher credit score like around 720. The advantage of conventional is once you achieve around 80% loan to value, the mortgage insurance will go away based on a good payment histo...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Real estate is again the number one investment by different rating services like BizRate and cash is number two. One of the big advantages for you investing is offsetting taxes with a depreciation schedule. The IRS on passive income allows you to depreciate the improvements. So if you buy a $175,000 house for rent, and the land is worth $25,000, and land does not depreciate, the IRS takes the $150,000 and divides it by 27.5 years. For instance, if that investment is giving you $450 a month in passive income after all expenses, the the depreciation mostly is $454 which makes the $450 tax deferred. When you go to sell the property if you want to just cash out you pay back 25% of the depreciation back and the capital gains rate that is current. However, with a 1031 tax deferred exchange yo...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Condos for Sale in OKCValerie McEvoy RE/MAX Urban Living Homes, Condos, Lofts and TownhomesLofts, Townhomes and Condos for Sale Downtown OKCJuly 2015 was a great month for urban living fans in Downtown and Bricktown Oklahoma City. Condos for Sale in OKC were full of choice and delight for my urban condo and town home buyers in OKC. Two of my top picks for condos for sale in this area? Price:   $1,695,000 MLS#:   580374 345 NE 4th St Oklahoma City, OK 73104 Type:   Condo Bedrooms:   2 Full Bathrooms:   2 Half Bathrooms:   2 Price:   $895,000 MLS#:   573624 119 N Geary Circle Oklahoma City, OK 73104 Type:   Condo Bedrooms:   4 Full Bathrooms:   3 Half Bathrooms:   1 Contact me for complete updates on listings in our Downtown OKC area. Urban Living Homes for Sale Downtown OKC? We have a g...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Oklahoma City real estate at the end of July is selling faster than ever, and for more than ever. A low inventory that we thought could not be any lower has done exactly that, homes for sale are fewer. One additional factor is that the start of school is typically the middle of August so purchases are now finalizing and closings need to be before the first day of school. It is so low that I checked the west side for Piedmont School District and found only 5 homes for sale between $130,000 and $150,000, and four were new construction. I have seen this in my 26 years of selling Oklahoma City real estate. The slight uptick in mortgage rates has also caused many who were sitting on their hands thinking that rates won't change to realize they do and are now buying. New construction has been ...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Oklahoma City Luxury Real EstateLearning about the latest properties for sale in the luxury real estate market here in Oklahoma City and Edmond is easy if you use a good website that lists the current properties for you. Being an Oklahoma luxury Realtor®, I love to share this kind of information on property listings in the luxury real estate market. Here are the top areas in OKC for luxury homes if you are wanting to learn more about exceptional luxury houses in our local OKC Metro luxury homes market.  GaillardiaGated and exclusive in far NW OKC. Close to the dining and shopping of the Memorial Road area and easy access to OKC and Edmond.Quail CreekLocated close to the fun and recreation of Lake Hefner. Easy access to all of OKC. Join the Quail Creek Golf and Country Club! You'll love ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Listings to Leads - eFlyers   JUST LISTED     Cute home in Deer Creek Schools   DESCRIPTION PHOTOS MAPS & LOCALS SCHOOLS PRINT BROCHURE MORE       Search All Homes For Sale   13448 Prairie View Lane Oklahoma City, Oklahoma 73142   Bedrooms: 3 | Bathrooms: 2 full | List Price: $ Get Current Price | 1454 square feet     Great home in Deer Creek Schools. Open concept layout. Large Kitchen with tons of storage. Private homesite with fenced backyard. Large covered front porch. Guest bedrooms are separate from Master Suite. Living room has fireplace and is open to Dining and Kitchen, great for entertaining. Enjoy life in a gated community with pool, pond and full lawn care. Close to everything!   Follow This Home!       Courtesy:   Joe PryorThe Virtual Real Estate TeamEmail Me Now405-590-2135...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
New Bricktown OKC Real Estate Listing for SaleHere's the details on this new, 7 days on the market Bricktown OKC Real Estate property for sale in Downtown Oklahoma City! 322 NE 14th St Oklahoma City, OK 73104 www.listedbyvalerie.com/591825 Single Family 3 Beds 1,904 Sq. Ft. 7 Days on Market Read more HERE to get details on this hot new property! If the property is no longer visible, it's been sold or under contract. Don't worry though, as you can find more at my main RE/MAX Preferred Properties website. Contact me for more details!The above Real Estate information on Bricktown OKC Homes for sale is provided by Valerie McEvoy, an experienced and successful Oklahoma real estate professional. Valerie can be reached via email at valeriemcevoy@remax.net , by phone at 405-414-5022 or online. ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 Fannie Mae has a limit of ten total mortgages with 20% down with up to 4 total mortgages. This includes your primary residence, a second home, or if you buy a duplex with only one mortgage it still counts that as two. Once you pass 4 then on the next 6 it is 25% down and more stringent requirements for reserves. The availability of loans for going past 10 gets better all the time. Even though these loans have existed for less than a year, we now have the ability of packaging 3 investment homes minimum and a minimum of a $300,000 loan, as well as 30 year mortgages with a fixed rate up to 10 years. 10 years is often more than enough time for investors to get their return on investment and go tax free into a 1031 exchange. One other wrinkle, if you are a married couple but you can indepen...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 When I deal with a first time Oklahoma City real estate investor, some of the advice is the same for all, but much is different depending on a log of factors. Naturally, what your cash position is a start, but other factors like age, level of risk taking, what the investment is for are a few important parameters we build into your portfolio. Also, what percentage of your total investment portfolio will you devote to real estate? Do you start with more than one property, or do you wait and do one at a time? Certainly a 25 year old is a lot different from someone in their 50s. Having $200,000 in liquid assets is different than $60,000. If you are saving for retirement, what is the amount of passive income do you need at 60, or 65, or 75? The point is to invest smartly, know where you wan...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 When you are buying an Oklahoma City home there are closing costs that a seller has to pay and a buyer has to pay. Then there are closing costs that are negotiable on who pays them. Whether you are a owner occupant buyer or an investor buyer the question is, do you negotiate closing costs for the seller to pay for you. Here is my take on who really pays these, it is the buyer regardless. A seller looks at an offer and when we represent them, they get a net sheet of proceeds. Oklahoma City home sellers only care about the bottom line, if they need $20,000 above net then whatever offer you give, the sales price they counter is based on that, the net. So if you ask for the seller to pay $5000 of negotiable closing cost then essentially you are paying $5000 more for the house. So on one ha...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. I talke to investors weekly about Oklahoma City real estate rental homes and often the investor will say, but you can't get 1% and I don't buy unless I get 1%. What they basically is that either an 1800SF hoe should rent for $1800 a month, or sometimes a $200,000 home needs to be $2000 a month. This is just the tip of the iceberg when it comes to return on investment. First, taxes can vary, for instance Texas is at least twice as high as Oklahoma on property taxes. Second, insurance an vary, for instance coastal areas in Florida may have insurance  two to three times as much as Oklahoma City has. Third, Home Owners Associations can eat up your cash flow. If you buy a condo and have $300 a month in HOA and even though it covers exterior insurance you sti...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Bricktown Apartments OKC Offered by Valerie McEvoy 405-414-5022 Latest List of Bricktown Apartments and Lofts in OKC!Finding good options in urban living has become a top search quest on my RE/MAX OKC website. People seem to be looking for housing in Downtown Oklahoma City, primarily in the area of Bricktown. Bricktown Apts and Lofts in OKC keep coming up in conversations with my young professional clients and new home buyer clients who have heard so much of the new excitement happening in Downtown and Bricktown OKC.Bricktown Apts and Lofts Homes for Sale List in OKC!If you are just starting your search for homes, apartments and lofts in Bricktown or anywhere in Oklahoma City, take a tour of some good information about the Downtown and Bricktown area: Downtown OKC Bricktown OKC Upcomin...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. We are coming up on the end of the first half of the Oklahoma City real estate market action for 2015, and it is like what they say about a "broken record", it just keeps doing the same thing over and over. Inventory keeps shrinking, days on market are lower, and the median price of a home sold does it's 3% increase or more. The only thing that can stop real estate sales would be higher interest rates and more homes being put on the market. That is possible but it is looking unlikely for the rest of the year although rates are up .25% over the last 30 days. However, decent deals are out there, just harder to find, so you need patience and a good REALTOR® in your corner to protect you and get you the right home or investment property. The Oklahoma City e...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Latest real estate market reports for zip code 73142Val Verde | The Greens | Hidden Creek | Gaillardia Just wanted to update you on some activity in an area you might find of interest. I've been seeing more out of state home buyer clients looking at zip code 73142 this past month. Real Estate Market Reports Stats are good to know! Here's what I came up with when I ran a quick analysis in this popular area in NW OKC. Average Days on Market: 123 Selling Vs Asking Price: Homes are selling around 10% under the asking price of the home seller. The Median Sold Price in Zip Code 73142 is $1,215,000 Number of Homes Listed for Sale in the Last 90 Days: +23% Most Recent Sale in this Area: $849,500 5800 Rosebay CT 4 Beds, 4 Baths, 3517 Sq.Ft., $207 /Sq.Ft. (SOLD for $728,000) If you need more info...
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