Oklahoma City, OK Real Estate News

By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Val Verde OKC Real Estate Homes for Sale Market ReportFor the Month of June 2015Val Verde OKC Sales StatisticsThe following tables and charts show the real estate activity for single-family homes in Val Verde OKC as reported by the MLS (Multiple Listing Service). Please remember that averages do not necessarily reflect the actual value of a specific home...some homes are worth more than, or less than, the city averages. If you want an expert Comparative Market Analysis (CMA) on your home, please call me at 405-414-5022 or sign up online at: What Is My Val Verde OKC Home Worth ?(I do this for my buyer-clients as well!) Noteworthy Stats This MonthThese stats refer to single-family homes only...not townhomes, condos, lots, acreage, or leases. Val Verde is still experiencing a good seller's...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Mesta Park Homes for Sale and Real Estate Fine Historic Homes for Sale in Mesta Park Oklahoma CityAs a professional Oklahoma real estate agent, I often have the pleasure of showing and selling historic homes in OKC. There are several areas of historic homes and neighborhoods in Oklahoma City, but one of my favorite areas in Oklahoma real estate for historic homes is the community of Mesta Park. Mesta Park Homes for Sale are sure to please a historic home buyer!Mesta Park Historic Homes in Oklahoma City Located in the heart of Oklahoma City, Mesta Park is perfectly located in a thriving and well designed residential area of OKC. The location of Mesta Park homes for sale affords easy access to all the fun, entertainment and dining options of Western Avenue, Midtown and Bricktown. Mesta Pa...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
This is a repeat of a video I have done before for investors for Oklahoma City rental property or anywhere. The simple message is no matter how good of a job I do and everyone else does, the end person which is the property manager can make or break your investment real estate. What I do is put a return on paper and the return on investment starts with the right house, in the right area, at the right price. Then the best mortgage rates combined with the lowest for effective insurance policy is next. Finally it comes done to final inspections, repairs, and the proper due diligence to insure that the home is rent ready and totally fixed. We base our rental rates on what we receive from the property managers so when I input that into your spreadsheet to compute internal rate of return, cas...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
You think nobody cares about Quail Creek homes for sale? My experience says the reality is much different.This community in NW OKC has property that is highly desirable. The NW OKC location, access to Lake Hefner and Memorial Road shopping and dining makes one who thinks no one cares about real estate in this area sound very unreliable. New List of Quail Creek Homes for Sale in OKCOklahoma City's favorite NW area neighborhood of homes for sale!As a professional Oklahoma Realtor, I have the pleasure of touring, listing and selling many of these luxury homes in the Oklahoma Real Estate market. What I love about this high end community in Quail Creek is the quality and style of construction, the Quail Creek Golf and Country Club and the wonderful people who call Quail Creek 'home'. The lux...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Historic Homes for Sale in Mesta Park Oklahoma CityAs a professional Oklahoma real estate agent, I often have the pleasure of showing and selling historic homes in OKC. There are several areas of historic homes for sale and neighborhoods in Oklahoma City, but one of my favorite areas in Oklahoma real estate for historic homes is the community of Mesta Park. Mesta Park Historic Homes for sale in Oklahoma City Located in the heart of Oklahoma City, Mesta Park is perfectly located in a thriving and well designed residential area of OKC. The location of Meta Park homes affords easy access to all the fun, entertainment and dining options of Western Avenue, Midtown and Bricktown. Mesta Park was founded in 1902 and the design and architecture of these historic homes from the early 20th century...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 Oklahoma City real estate for investment has been heating up again but two groups have not been able to get loans to extend their portfolio, foreign nationals and US citizens with 10 mortgages. We are happy to report that we have foreign national financing available for the first time since 2006. These are 30 year mortgages that are ARMs with fixed rates from 5 to 10 years. Down payment will depend on the strength of the borrower, but as low as 35% down is available. Also on the home front, US citizens have been limited to 10 mortgages total by Fannie Mae guidelines. Those ten include a personal and second home as well as investment homes. We have the same terms for US citizens in this position as for the foreign nationals, and the number of mortgages is unlimited. The other good news ...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Looking back at the Oklahoma City real estate market conditions for March 2015, the sales versus new inventory coming on the market is overwhelmingly in a more sales that listed homes than at any other time I can remember in 26 years of being an Oklahoma City REALTOR®. While January and February showed a 10% increase in listings and a 16% increase in pending sales, March showed no increase in listed properties but a 22.5% increase in pending sales over last year. This trend will continue as long as rates stay low and that is expected for the rest of the year, and since we haven't even gotten into prime sales season, the problem for buyers will only get worse. Why is this happening? For one, despite the loss of jobs in the energy field, we are creating an equal amount of quality jobs, an...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. The Blackstone Group is a Wall Street hedge fund that since 2008 has been buying thousands of single family homes in the US, but not in Oklahoma City. The over 50,000 homes they have are concentrated in Florida, Georgia, Nevada, and Arizona, but they have bought elsewhere. This group saw that after the mortgage meltdown real estate values in bubble markets were below the cost of building so they went all in. Many of the homes early on were 50% to 80% off bubble price foreclosures and even though rents were low they did the classic buy low sell high, and they had the cash to wait for a recovery. The recovery did happen earlier than predicted but Blackstone kept buying. The real story here is when you combine yields with the low risk factor, real estate i...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 When you get on the internet for an online source for Oklahoma City real estate data or for any city what is accurate and what is estimated? If you go to Zillow and check the Zestimate you get a gross approximation that is a starting point but as much as 20% in error. Dealing with a local REALTOR® armed with not only local data but also local knowledge you start to get a more accurate picture. So if you start locally with what is the size of the property you get appraisal data but it is still an estimate but the closest to accurate. This is why we put MOL or more or less in our statements about size because three appraiser may come up with three different sizes all close but different. Then taking the gross data and armed with local knowledge we evaluate the property and get a close id...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
If yo visit Oklahoma City for any reason you will find a friendly and inviting city that will be eager to help you if you are a stranger. I have real estate investors coming to Oklahoma City to see what they are buying for rental property and they always remark that our city was surprisingly open the them and curious. I had a group of South African investors in last week and at bars and bistros people wanted to buy them drinks and talk about there home. The net result of this is a comfort level with investing in Oklahoma City real estate that goes beyond statistics and cash flow analysis. of course the numbers have to work and no amount of being a friendly city will make bad numbers good. But is is an important psychological lift to get people to act. I am not here to say that our city ...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Buying Is Cheaper Than Renting in Most Places?   Great issues that are explained here from my Realtor® magazine. If you have wondered if it's better to rent than buy, then you might find this article interesting. Of course, lifestyle issues, planned career moves, retirement, etc also play a major factor in whether to buy or rent, so remember to take stock on your future five year plans and then discuss options with a quality Realtor®.     Read more below on why Buying Is Cheaper Than Renting in Most Places.   Many renters would be better off buying a home than continuing to pay steep rental costs, finds a new study. The monthly payment on a median priced home is more affordable than the monthly fair market rent on a three-bedroom property in 76 percent of the U.S. counties, according t...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
  MLS ID: www.listedbyvalerie.com/583012   Click through to see details on the great new listing in Edgewater here in Oklahoma City. Outstanding Edgewater neighborhood in Oklahoma City very near Lake Hefner. Easy access to highways, fine dining and shopping. Near Integris and Deaconess. Much updating is done and priced over $30k below neighborhood comps to allow for more personal touches. New inground sprinkler & stone patios. New tile and faucets in baths. Recent kitchen update with new appliances and more. Oversize 2 car. Could have parking area for boat or RV. Owner is licensed realtor Property Features of this great new listing in Edgewater neighborhood in Oklahoma City! General Information Beds4 Bed House Size2336 Sq Ft Price/sqft$80 Year Built1967 Baths2 Full, 1 Half Bath Price$1...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
As an Oklahoma Realtor® who loves learning and sharing tips and ideas about OKC real estate, I found a really nice article about some reasons why you as a home seller might be experiencing difficulty in getting your home sold. 5 Real Estate Tips Why Your Home Hasn't Sold Yet It's always good to learn about marketing and home selling strategies and tips to get your home sold. After all, why would you put your house on the market unless your intent was to get it sold. I always know that my home seller clients want to have good information on how to sell their home quickly and for a good price when the time comes for them to list their property for sale here in Oklahoma. Take a look at these 5 real estate tips that itemize the reasons why your home might not be selling as quickly as you wo...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 I have done similar videos about Oklahoma City real estate market conditions but it is helpful in the current time to again discuss how we define a real estate market as it may be in favor of a buyer or seller. In this video I use the industry standard of 6 months of inventory and in this case every listing at any price in the Oklahoma City MLS for sale and show how we determine this definition. By using absorption rate or the amount of time it takes based on historical sales data to sell all the home currently for sale that is the starting point. What I do is take the Oklahoma City homes for sale and then compare that to what has sold in a 3, 6, or 12 month period and divide that by unsold homes. Currently all of the Oklahoma City homes for sale would be sold in 3.5 months more or les...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Latest updates on Quail Creek Homes for Sale in Oklahoma City Here's my latest list of homes for sale in Quail Creek here in OKC. Quail Creek is located in NW OKC, just off the Lake Hefner Parkway access on the east side. Exiting Lake Hefner Parkway from Hefner Road or 122nd Street will get you into Quail Creek! If you are looking for home buying opportunities in Quail Creek, you are not alone. It's very popular as it's located close to Lake Hefner, the Memorial Road dining and shopping corridor and has easy access to all of Edmond and Oklahoma City. My clients who are moving to OKC all find Quail Creek highly desirable because of the quality of homes, pricing and location! Quail Creek Homes for Sale Quail Creek Open Houses in Oklahoma City The Greens Homes for Sale in Oklahoma City Val...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Buying a Home in Edmond Oklahoma | Edmond Oklahoma Real Estate As a professional Realtor® and Buyer's Agent in Edmond Oklahoma, I deal with many clients who want to buy a home and live in Edmond, Oklahoma. Edmond has a large selection of quality homes, nice neighborhoods, is home to the University of Central Oklahoma, and close to all the new developments and excitement of the Oklahoma City Metro area. Not only do my clients desire to live in great cities like Edmond, but they also understand the long-term value of becoming a home owner. Residential home ownership is definitely the foundation of the American Dream. And buying a home in Edmond Oklahoma is a sweet deal! However before you begin searching; there are a variety of issues you should think about. Initially, you should really f...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Are you buying a home in Oklahoma City? Buying a home. Best tips for buying a home. Buying a home in Oklahoma City? I'm Valerie McEvoy of RE/MAX Preferred Properties. As a Realtor® who loves to show and sell homes in the OKC real estate market, I can tell you that preparation is key in buying a home and getting a good deal. The most important first step you can take whenever you're buying a home is to start doing some research on your own. Hey, it never hurts to review the Internet websites, magazines real estate listings online and in print and get an idea of what's available in the city that you're looking to buy homes. Good sites like RE/MAX.com and local agent sites are preferred over Zillow and Truila. Take a look at the Saturday real estate sections in your local newspaper look at...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Val Verde Homes for Sale Offered by Valerie McEvoy 405-414-5022Val Verde is one of the most desirable neighborhoods in which to buy a home in Northwest Oklahoma City. Located just off the North side of 122nd Street between MacArthur and the Hefner Parkway, you will find your Val Verde home close to everything going on in OKC. Easy access to Hefner Parkway makes all of OKC accessible to you. Lake Hefner restaurants, recreational trails and perfect sunset views also enhance your wise choice of moving into this upscale and exclusive community. Living in this community of high-end homes puts you right in one of the best locations for being a homeowner in OKC. The ease and access to NW Oklahoma City from Val Verde, makes the choice of living here an easy decision.Val Verde homes have solid p...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Just Listed and New on the Oklahoma City Real Estate Market! New Home Now For Sale in Glenhurst Oklahoma City 5409 NW 122nd Terrace Oklahoma City, OK 73162 Here's a new listing that will be sure to please if you are a home buyer looking for a great neighborhood in NW Oklahoma City. Close to Lake Hefner and all the wonderful activities around the lake and the growing Memorial Road dining and entertainment corridor in NW OKC. MLS# www.ListedByValerie.com/576833 Single Family 3 Beds 2,315 Sq. Ft. 1 Days on Market If you are looking for all the current homes for sale in the Glenhurst addition of Oklahoma City, then please review this list and fill out the appointment form to schedule a personal tour. I've been specializing in homes for sale in NW Oklahoma City for years and love all the lif...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. In 1982 I owned home electronic stores in Oklahoma and the oil business was booming until in July a formerly small suburban bank in Penn Square Mall was closed by the FDIC because OPEC had turned the oil spigots back on and a 60% drop in oil prices caused this heavily leverage bank to fail. Literally overnight banks and oil companies closed and even the largest bank in Chicago and the second largest in Seattle shut their doors because of the fall. It took Oklahoma City over 15 years to recover from that bubble bursting. Now fast forward to 2015 and oil again has dropped 60% and now we have the sound of silence. No banks are failing, no energy companies are going out of business, not value loss in real estate so what gives and what made the difference? F...
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