Oklahoma City, OK Real Estate News

By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. Over the Christmas holidays I was sitting in my bother in laws home and they had the TV onto HGTV and a "Fix or Flop" program marathon. I watched 5 episodes and it made me realize that instead of calling this reality TV it should be called unreality TV. If you watch this show for entertainment value that's great, it is and the couple is appealing. However, if you watch this thinking this is the way fix and flip is done please touch that dial and watch something else. First of all the notion that they always makes money is laughable. I have done fix and flip and I know two former builders in Oklahoma City who are outstanding at this and trust me they have lost money. Second, there are times these people could have gotten an inspection and didn't. On a sh...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Quail Creek OKC Homes for Sale Congratulations on deciding to learn more about the quality and variety of homes for sale in Quail Creek Oklahoma City! Quail Creek is a very desirable neighborhood in NW Oklahoma City. The homes for sale in Quail Creek are so popular because of their location in NW OKC, the proximity to Lake Hefner and the ever-expanding shopping and dining activity along the West Memorial Road corridor. Quail Creek also has a wonderful golf and country club! You'll love the activities, fellowship and golf action at Quail Creek Golf and Country Club! As a professional Oklahoma Realtor, I have the pleasure of touring, listing and selling many of these luxury Quail Creek homes in the Oklahoma Real Estate market. What I love about this high-end community in Quail Creek is th...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. I am in my 26th year of being an Oklahoma City REALTOR® but I remember when I first started and had very little money, it was a temptation to bend or maybe even break the rules in order to get the commission check, but I successfully resisted. Now that one commission check is not a necessity but it also means something more. It means that in selling you Oklahoma City investment real estate, or any real estate, it means that success is not measure in a quest for volume, it is measured in a quest for quality. This not only something I take pride in for myself, it is also something where with a task force I am working to change the curriculum for Oklahoma REALTORS® where our educational system helps agents become more profitable and more successful because...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Looking for a perfect neighborhood and you want it located in NW OKC? Val Verde is one of the most popular neighborhoods in Oklahoma City. Here's the top two most expensive listings this week! Finding the best real estate for sale in NW Oklahoma City usually means driving around and looking for yard signs. Well, that's what many do who don't connect with a good Realtor and use the search online resources of solid reputable real estate companies. As a professional Oklahoma City Realtor, I specialize in NW Oklahoma City which includes the exceptional property for sale selections in Val Verde in OKC! Val Verde is an excellent choice in a neighborhood for buying a home. Its location and the quality of the surrounding NW OKC area is a big plus when it comes to deciding on where to look for a...
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By Lori Ballen, Digital Marketing Strategist
(Keller Williams Las Vegas)
Real Estate Referral Network: All Star Agent Network is proud to present Matt Holder for Oklahoma City, OK Real Estate Referrals!   ABOUT THE ALL STAR AGENT NETWORK       Join Now!   Welcome to the All Star Agent Network, a public and Google Fed real estate referral network. All Star Agent Network is a National directory of real estate agents. Lori Ballen, a known Internet marketer is behind this system and is on a personal mission to lead generate for the world of real estate agents. Lori has decided to take The All Star Agent Network and make it her personal, primary marketing responsibility (along with her army of internet marketers) and she is known to dominate Google for niches and Hyperlocal communities generating hundreds to thousands of real estate client referral leads a month....
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. Many investors wait until Spring to build their Oklahoma City real estate investment portfolio but right now is the best time to make your purchases. The best returns in Oklahoma City come with new construction and starting now gets the completion done in April and May which is the beginning of the peak rental season where we get the highest rent. New construction is also your best low maintenance solution to long term investing in that new homes come with extended warranties and maintenance costs will not eat up your profit. New homes have also been the most desirable so vacancy is less. People love the modern open floor plans, the high ceilings, the large bathrooms and closets, and the superior communities. We are in the process of staring 30 new home...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. For 22 out of my 25 years in selling Oklahoma City real estate I have focused mostly on investment real estate/ In 2004 I made the decision in 2004 to go all in and sell nothing but investments and had team members who would handle other types of real estate. When investment real estate dried up as did just about all real estate in 2008 I segued into doing short sales to keep going but eventually investors came back and started to buy Oklahoma City real estate short sales. By 2012 I was back into the full time business of investment real estate as the bubble markets corrected and real estate investors were back to looking at fundamentals which is Oklahoma City real estate homes. The key is that we are at a time in large city real estate markets where be...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. As an Oklahoma City real estate investment specialist you would think that I would be happy if everybody becomes a renter, not true. The Millennial Generation, the under 33 group, is large and they are only at about 35% home ownership, the lowest we have seen in my lifetime. We do not need a nation of renters because home ownership builds families, it builds pride, and it is your castle. But with excessive student loan debt, lower paying jobs since 2008, and credit issues, many of this group are delaying buying a home and family formation for as much as seven years longer than previous generations. As a country this is not in our best interest and for me it is not in the best interest of Oklahoma City investors. Home owners drive values up, they improve...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. Oklahoma City real estate is flying high even in October and investors from all over are looking at our real estate market. One investment type is to fix and flip a house quickly and many infomercials and seminars with hustler type promoters are telling people you can make a fortune in a short period of time. I do get these calls for assistance from out of state investors and our answer is no we can't help you. Oklahoma City real setae may be vibrant but we are not a volatile market with foreclosures that give you the margin of profit you need. We also won't take on the liability of handling subcontractors to do the work for you. The last reason is you are out of state. If you want to make money on fix and flip real estate stay in your home market and d...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Please excuse the length of this video on investing in real estate and risk management but this is not talk about enough with potential clients. When investing in Oklahoma City real estate or anywhere it is not enough to get the figures on return on investment, you also need a risk management assessment. Any investment has a risk from low to high and understanding that as you build your portfolio is essential. When I discuss Oklahoma City real estate investment with anyone I talk about this because when someone tells me don't worry or this investment is a "no brainer" then that is when I would worry. This video will address the basics of risk management but we will have a more comprehensive discussion before you out out your money. For more information on investing in Oklahoma City real...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Back in 1999 I attended a real estate tech conference in Santa Fe and heard speakers like Michael Russer and Stefan Swanepoel, both not particularly well known back then but now especially Stefan has become one of our influencial leaders. They talked about the need to differeniate yourself online, and to create taglines, and that was the beginning of my adventure into the brave new world of web marketing. So for the last 7 years I have used this as my "UPS": Traditional Real Estate Values, Delivered with the Speed of Technology. Let me first explain my business model, I am a real estate investment specialist, in fact I consider myself a sub-specialist. Almost all of my clients are from out of the state or out of the country, and I only work with long term investors who committ to multip...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. You get a rental application for your Oklahoma City investment property and they have a 740 credit score, 4 times the income of the rental amount, and a long time homeowner from another state, the perfect renter. Maybe not and yes I would rent to them but the chances of them renting for only one year are very great, and vacancy is inevitable. Sometimes we see someone who had a credit issue or maybe a foreclosure and their were circumstances beyond their control and the credit score dropped. A bad renter? not necessarily for two reasons: First they often are willing to pay 2 full months of a security deposit and second, they won't be able to buy a home for some time. This is why these renters will stay 3 years in a home and pay more year after year. When...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
The SCOOP stands for South Central Oklahoma Oil Province and it looks to be a historic find. The Baaken Shale in North Dakota set off a boom because not only did it have natural gas it had an estimated 23 billion barrels of oil in reserve. The SCOOP which is about 45 minutes south of Downtown Oklahoma City is estimated to have 70 billion barrels of oil in reserve. This is important because we have plenty of natural gas but not oil. This is going to add to our boom economy in Oklahoma City and we are preparing real state investments to take advantage of large return on investments. Not only does this strengthen the Oklahoma City economy because of the energy companies here adding personal, it is also creating demand in the region of the oil find. If you want to be put on a mailing list f...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. When a real estate agent in Oklahoma City tells you they are full service is that just a sales line or is it true? This video is about a tale of two vacations that illustrates the meaning. The travel industry has to a large part become a commodity where I books a Colorado mountain vacation through VRBO and Southwest Airlines. But in July my wife and I spent 9 days in Costa Rica arranged by a travel agency in Chicago. The level of service and the perfection of the details we experienced is truly full service and the agency only did Costa Rica travel. Our industry is evolving this way and that is why I specialize in Oklahoma real estate investment only and refer business out to others like buyers and sellers of traditional real estate. I have worked on fu...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. I have sold Oklahoma City investment real estate for the last 25 years and the amount of outrageous claims about cap rate and return could fill a book at large as War and Peace. The latest is one that i read from an online company that sells you expensive eBooks. They were saying that you should get 2% returns of the gross purchase and that markets exist where a $100,000 home would rent for $2000 and that sounds to good to be true. So they showed this little Ohio town where a $70,000 home was getting $1800 a month. I Googled the town and the unemployment rate as about 12%, average income was about $24,000, and the town had less than 25,000 people. What I am saying is look at the facts before buying books, programs or whatever, be skeptical and asks what...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
New list of Urban Downtown Living OKC Lofts, Condos and Townhomes Oklahoma City has a new and vibrant urban living area. It's called Downtown Living OKC, and it is comprised of several very cool neighborhoods and housing areas. If you've ever heard of Bricktown, Downtown and Midtown, then you know about some of these great urban Downtown living areas. Block42, The Hill, 5th Avenue Lofts, Central Avenue Villas and The Montgomery are huge draws for Oklahoma City residents who want to take up residence in the Downtown area. Residents and employers alike are flocking to downtown living in Oklahoma City to be a part of its revitalization and creative energy. It's a tight-knit community full of friendly neighbors and street life. Close proximity to downtown's amenities make this a great place...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. A recent study using Zillow statistics said that Oklahoma City is the number one real estate market for building cash flow for future wealth. We have always emphasized positive cash flow because that you can depend on and appreciation five cash flow can only be estimated. A recent example was an investor who did a tax deferred exchange out of Phoenix and bought 2 houses here in exchange for the one in Phoenix. They were rented before they closed and he went fro $200 a month positive cash flow to $1100. I have been an Oklahoma City real estate investment specialist for 25 years and I am dedicated to help you build wealth through Oklahoma City homes for sale. For a personal consultation please email me at joe@joepryor.com  
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. Town homes for sale in Oklahoma City are the hottest category for investors but also those looking for a place to own and live. Building the Terra Town Homes on a less than 1/2 acre tract maximizes the use of land for 17 properties. On this video we will explain that with even all factors put in like vacancy, maintenance, and property management fee, the capitalization rate is still close to 10% which for new construction is beyond what most commercial investors find acceptable. Even though they are in Oklahoma City limits they also are in the Yukon Oklahoma school district which has the most aggressive new school building plan in the metro. The units are arrayed in units of 3 or 4 attached buildings and this also makes for an excellent exit strategy be...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
http://virtualrealestateteam.com. Town homes for sale in Oklahoma City are the hottest category for investors but also those looking for a place to own and live. Building the Terra Town Homes on a less than 1/2 acre tract maximizes the use of land for 17 properties. On this video we will explain that with even all factors put in like vacancy, maintenance, and property management fee, the capitalization rate is still close to 10% which for new construction is beyond what most commercial investors find acceptable. Even though they are in Oklahoma City limits they also are in the Yukon Oklahoma school district which has the most aggressive new school building plan in the metro. The units are arrayed in units of 3 or 4 attached buildings and this also makes for an excellent exit strategy be...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
As a monthly participant in NAR national real estate market surveys I get to input what Oklahoma City real estate looks like and the trends going forward. When I get the results I see many REALTORS® nationally complaining about low appraisals and too much government regulations killing real estate deals. Personally I have not experienced that in Oklahoma City nor the REALTORS® I talk to on a regular basis see this either. Yes, there are some regulations that need to be pushed back, but asking a loan officer to make sure someone can make a payment and have documentation to prove it sounds prudent to me. I also live in a real estate market that doesn't experience wide swings in values so an appraisers job is much easier in Oklahoma City real estate. Oklahoma City real estate has values yo...
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