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Oklahoma City, OK Real Estate News

By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Condos for Sale Bricktown Oklahoma CityCheck out the latest listings of condos for sale in Bricktown Oklahoma City real estate!Learn more about fun and frolic in Bricktown OKC in the video below! In the 1990s, mayor Ron Norick persuaded Oklahoma City residents to approve a series of tax incentives to lure new businesses, but these were not sufficient to create the Bricktown of today in OKC. A visit to Indianapolis, Indiana, which had recently beat the city in a competition for a new airline maintenance plant, led him to believe that Oklahoma City needed a vibrant downtown. It lacked the range of activities and amenities to attract more residents and visitors.See All Current Condo Listings Here!Along with Greater Oklahoma City Chamber President Ray Ackerman, Norick and their staffs devel...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Oklahoma City Museum of Art I'm a member of the Oklahoma City Museum of Art and I love the offerings they provide to the community. What a great enhancement to Downtown Urban life and fun!  OKCMOA works hard to increase the value and enrich the lives of all residents in OKC via the visual arts. It's really nice that this is not just a passive viewing art museum. They have interactive events that increase the involvement in the arts, especially with the children classes available. I highly recommend you become a member and take advantage of the discounts you get on the programs they offer to families and individuals here in Downtown OKC. OKCMOA has a wonderful movie theater..come Thursday or Friday and see this special film titled 'Mountains May Depart'. Got some time Thursday and Frida...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Spring Break Fun Ideas for Oklahoma City and Beyond! It's Spring Break in Oklahoma! What's on your schedule for FUN!Need to make your way to some Spring Break fun in OKC? Maybe your are doing the Spring Break 'Staycation' and keeping it close to home and local? If you need some local ideas for having some Spring Break fun, then let me assist you on that project.Here are some of the ideas my clients and friends have shared with me on fun for Spring Break in the Oklahoma City Metro area. There's really no need to plan a long away trip for the family. Cast away any lingering winter blues with a myriad (or Myriad Botanical Gardens) agenda of kid-friendly destinations and activities in Oklahoma. *Head North to Enid, Oklahoma: There you will find Leonardo's Children's Museum. You won't see w...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Love our local Downtown events this Spring in Oklahoma City Oklahoma City Museum Of Art Oklahoma City Museum of Art I'm a member of the Oklahoma City Museum of Art and I love the offerings they provide to the community. What a great enhancement to Downtown Urban life and fun!   OKCMOA works hard to increase the value and enrich the lives of all residents in OKC via the visual arts. It's really nice that this is not just a passive viewing art museum. They have interactive events that increase the involvement in the arts, especially with the children classes available. I highly recommend you become a member and take advantage of the discounts you get on the programs they offer to families and individuals here in Downtown OKC.   This Paper Garden event is scheduled for Saturday, March 19 a...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
So what's your favorite pie feast to celebrate it? Did you know that it's National Pie Day? So what are you going to do about it?Are you really into pies or more a cake and cookie fiend?For pie lovers in Oklahoma, we have some choices that will satisfy the most discerning sweet tooth out there. Here are a few of my commercially available pie dream chow downs. Of course my pies and my grandmother's specialities will always take the cake(pun intended).Top choices if the OKC Metro area for Pie Fans: *Pie Junkie: My favorite is the buttermilk pie that is loaded with rhubarb(Love a rhubarb pie), blackberries, strawberries and a dreamy cinnamon apple crumble top! It's about as home made grandma approved as you can get around our neck of the woods. My husband is crazy about Key Lime Pie at Re...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
When buying an Oklahoma City investment home appreciation of the property is always important but rental appreciation is just as important. I was talking to an investor yesterday who was visiting from California and we were discussing his Phoenix investment homes. The home itself was appreciating but the rental was not because of a growing supply of rental homes that didn't equal the growth of renters. In that case the law of supply and demand works against you and puts the renter is a commanding position as well as increasing vacancy. A steady under the radar city like Oklahoma City or Nashville for instance will have a more balanced supply and demand which gives you a better opportunity to increase rents or at the very least, keep them steady. If a market has appreciating home prices ...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Last weekend was so much fun! Downtown OKC Home Tour and Urban Living Review Spent part of the weekend exploring Downtown OKC Homes and Urban Living. Loved it! Did you get a chance to take part in the Downtown OKC Home Tour this past weekend? Living in Downtown, Midtown and the Bricktown area is becoming highly desirable for residents of OKC. Lofts, townhomes and condos and exciting new developments are making work and play in the Downtown areas of Oklahoma City a reality! If you enjoy walking and biking around more than driving, then you might want to check out what our OKC urban living evangelists have to say about it. View the video below to get a first-hand report on what it's like to establish a home and lifestyle in our Oklahoma City Downtown living areas. As a REALTOR®, I really...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
The Oklahoma City real estate market has held steady despite some layoffs we have seen in the energy sector. The unemployment rate has stayed steady at 3.3%, the second lowest in the US for metro areas over 1 million. The reason is job growth in government, the military, hospitality, construction durable goods manufacturing, tech, and medical tech. This has offset the losses and it is reflected in the Oklahoma City homes sale, which is showing strength. The median price of a home is rising, days on market held at 54 days, but we are seeing an increase in inventory of homes for sale. This is also a good sign because of confidence in the economy in Oklahoma City. We are seeing an oil price recovery lately with it approaching $35 a barrel, and if can break the $38 resistance level then ene...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Oklahoma City before 1982 used to be a city dominated by the oiled natural gas business. After the bust we found out the true meaning of a one dimensional economy with a long lasting deep recession. Since that time we have pursued outstanding ideas that have lead to a different city with a diversified economy, so when we lose jobs because of energy prices does Oklahoma roll up it's sidewalks like in 1982 when the energy bubble burst? Here is the telling statistic: Before the energy bust, Oklahoma City was at 3.3% unemployment rate, the second lowest for metro areas over 1 million, Austin was first at 3.1%. After the energy prices dropped significantly the unemployment was at, wait for it....3.3%. Just think what we would be like if energy was $65 a barrel? The key factors are first the ...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
What's on tap for fun this coming weekend in OKC? Oklahoma City, Oklahoma Fun and Events this coming Weekend!Excited to see some interesting and fun activities coming up this weekend in Oklahoma City, Oklahoma! As you know from reading my blogs and posts, I am very much involved with showing and selling great homes in OKC, but I also love Oklahoma City and the civic endeavors that our residents are making to move OKC forward in our quality of life. So if you are visiting OKC and wanting to take a break from house hunting, then you might want to pencil in some ideas for fun this coming weekend.Here's a few things that I plan on checking out in our OKC lifestyle experience this weekend. Orchid Show Guided Weekly Tour; 2 p.m.; Myriad Botanical Gardens, Crystal Bridge; 445-7080; Free with a...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
RED TIE NIGHT IN OKLAHOMA CITY, OKLAHOMA! Pretty fabulous  time coming up if you are a participant in great causes, civic pride and enjoy fine food and charitable celebrations. It's RED TIE NIGHT coming up March 5, 2016 and it's one of my favorite events each Spring in the Oklahoma City social scene. The event chairs for the 2016 festivities will be Grant Colton (incredible musician and performer here in the Oklahoma and national music scene) and Cindy Colton. It will be an amazing night of fun and good charity fund raising for the support of this cause. I'm wondering who will be the recepient of the Richard May award this year. It's a great honor to receive it. Each year the Oklahoma AIDS Care Fund awards one deserving individual with this award. Through this award, the board honors Ri...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
7 Tips for Pet Owners Selling a Home Lingering animal smells and fur can be a turn-off for would-be buyers. Be sure to remove all signs of your furry friends before showings. Here are some tips.1. Holey backyard, Batman!Does your dog bury more bones than they munch on? Start at the perimeter of your yard and circle inward to find your pup’s landscaping efforts and fill them in.2. Scoop the ####One misstep can ruin a buyer’s impression of your yard (and possibly home). Make sure your property is clear of any pet-related landmines.3. Mend fencesCheck your fencing, deck and porch for any marks from scratching or chewing. Most can be erased with elbow grease and a bit of sandpaper.4. Stash the evidenceCollect your pet’s toys, bowls, beds and litter boxes and keep them out of sight. Hide pet...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
Oklahoma City like other major metropolitan areas in the Midwest are going through a housing revolution. In Oklahoma City for many years it has been about single family homes and apartments. Now we are seeing the rise of housing specific concepts for Baby Boomers and the Gen Y group specifically.For 26 years I have been offering primarily single family homes for investors, but now that is changing. The needs of those over 55 to the front end of the Boomer generation want specific things  now that schools are not their primary concern. They also like the company of those who share their generations experiences and culture and we are designing over 55 age restricted communities now. This is not a nursing or assisted living facility type, rather it is more geared to not needing the space a...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
One of my favorite OKC restaurants is featured on CNBC! Watch for Nunu's!! **Authentic style of Lebanese cuisine **I love OKC real estate and I love good OKC locally owned restaurants! I highly recommend Nunu's in NW OKC in the Quail Springs District! It's locally owned which is very important to me and the food there is amazing. I love the ambience and the great and personable service. Now guess what? They are going to be featured on CNBC!The owners are appearing on a CNBC show named 'Restaurant Start Up' which I take it, is kind of like Shark Tank for restaurants.Here's a brief run down on how Nunu's got started in OKC."Back in 2008, Janet Farhood was mulling a retirement venture and sought her son's advice.Clayton had logged enough years and miles in the restaurant business in Indian...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
 I have had real estate investors who said why should I buy in Oklahoma City when you don't deliver 1%? What they are saying is that if they invest $150,000 in a rental home then they should get $1500 a month rent. Trust me, if I could get that I would be buying all of them myself, but the problem is, that not the way to buy and here's why: First, the devil is in the details. What if in another state the property taxes where at least twice as high? That is the case with Texas so that affects cash flow. What if the insurance is much higher? We had to get flood insurance on a Florida home even though it wasn't in a flood zone and is a second story condo. The reason is hurricanes. It can also be affected by homeowners association dues. If I have one that is $80 a year versus another state ...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Elaborate climbing and fitness facility has started construction Love to see the wonderful things happening in OKC! Here's the latest update on recent ground breaking on this new climbing and fitness center coming to Oklahoma City, OK. Dubbed Threshold Climbing + Fitness, the center will be located on 2 acres of land near the intersection of N. MacArthur and Memorial Road.With a $2 million construction budget it will be comprised of 20,000 square feet and be over five stories at it's tallest point, with impressive climbing walls of all types. A ground breaking ceremony took place on January 22nd and construction should be complete near the end of the year.Threshold will join existing climbing facilities Rocktown in downtown OKC and Climb Up in Norman. I've never wall climbed, but I lov...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Februay 6th 2016 in Oklahoma City, OK Director’s Tour Overholser Mansion. It's Tomorrow, So Don't Miss It!   February 6th 2016 is Saturday and you still have time to work this into your schedule. I'll be showing homes in the area and won't be able to make it, but I cannot let this event slip by for those of you who are interested in the amazing Henry Overholser Mansion in Oklahoma City!Here are the tour details and I've included a link in this post about how to learn even more!One such short notice I would advise anyone interested to just call directly and get a reservation for this one!"Visitors to the mansion will have an opportunity to learn more about the history and collections of this Oklahoma City treasure with new Director’s Tours, held each Saturday at 2 p.m. During the tour, g...
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By Valerie McEvoy, Oklahoma Real Estate and Homes
(Preferred Referrals LLC)
Latest updates and current listings of  Luxury Condos in OKC in Downtown Bricktown Midtown! As a professional REALTOR® in Oklahoma City, I enjoy showing and selling Bricktown and Downtown condos in OKC and townhomes in the exciting urban living scene here. It's nice to be able to hop over to many of the cool urban restaurants in Downtown OKC with clients and discuss our showing schedule and the properties they like and want to make an offer on here in Oklahoma City. Condos in OKC are a hot item now! It's really a developing real estate market with so many opportunities for new home buyers, especially the young professional crowd who desire to live in Midtown and Downtown. The amenities of living close to Bricktown make buying a condo or townhome here a simple decision. Condos and Townh...
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
This video should have been posted earlier about Oklahoma City real estate trends, but being exceptionally busy in January was not a trend that I expected to be an overload. But now I can look back at recent events that I was going to predict, and correctly, and still look forward to what I think will be a great year for home buyers and sellers. First, we avoid a government shut down, this nonsense has been plaguing us and has stifled the economy and the good faith and credit of the US. This time both parties came together and made sense and this was a huge relief. FYI, a lot of good things for property owners were also in the Omnibus Spending bill. The other great concern was the Fed raising interest rates at least 4 times this year after last years raise after 9 years of not doing it....
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By Joe Pryor, REALTOR® - Oklahoma Investment Properties
(The Virtual Real Estate Team)
For investors the 10 mortgage Fannie Mae limit can be a problem. It starts with your first 4 properties that include a primary dwelling, a second home, and two investment properties, that is 20% and straight forward. Then from 5 to 10 it goes to minimum 25% down and larger reserve requirements. Here is a possible suggestion to first maximize your rental units in Oklahoma City as you approach 10 mortgages. If you buy a duplex to quadriplex on one mortgage it only counts as one mortgage not 2 to 4 units. This allows you to increase the number of rental units you can have. We found an interesting variation in putting two duplexes on one lot to create one mortgage and four rentals. Think about this as you reach the limit. After ten you can go to what is called a non-conforming conventional ...
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