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Karyn Seabrooke - Oklahoma Realtor®
(405) 605-6445
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Thinking of Buying Investment Property?

November 30, 2018 by kseabrooke Leave a Comment

Buying Investment Property in OKC

If you are looking at Buying Investment Property in OKC – Look to the Experts at Key Realty and Property Management.

We are a Full Service Property Management Company and we can help you find the right Investment Property or if you are thinking of Selling – we have plenty of current clients looking to add to their existing portfolio.

10 Reasons To Invest In Oklahoma City Real Estate Market

Oklahoma City is home to just over 600,000 people. The metropolitan area is home to over a million people. The Oklahoma City housing market is stable to strong because it is slowly growing. The Oklahoma metro area grew from 1.25 to 1.4 million between 2010 and today. Here are 10 reasons to invest in the Oklahoma City real estate market.

1. It Is Landlord Friendly

Oklahoma in general is landlord friendly. In general, you don’t need a rental license to be a landlord in the state. There is no payment grace period law. Interest isn’t owed on deposits. Landlords can evict a tenant in Oklahoma City for failure to pay rent, criminal activity and material breaches of the lease. If the landlord wants to evict them for a breach of lease, a ten day written notice is required in which the tenant has to solve the issue. If they don’t, they can be given 15 days to leave. The only exception is criminal activity that poses a health or safety threat to tenants and those around them – you can evict someone immediately for that. This includes illegal drug activity in a the unit. Eviction can proceed five days after failing to pay the rent.

2. Steady Growth in Property Values

The Oklahoma City real estate market is bolstered by steady population growth of 1% to 2% a year, both within Oklahoma City itself and the surrounding suburbs. This keeps housing prices and rental rates going with the rate of inflation if not better. However, it doesn’t create the boom or bust cycles that risks landlords losing all their equity when a hot market cools.

3. Housing Stock Growth Is Slow

Oklahoma City is issuing building permits for single family housing slowly. New multi-family housing stock is slow to nonexistent. The Core to Shore redevelopment of downtown Oklahoma City will bring new commercial buildings to accompany the new convention center. However, this urban redevelopment plan does not include condo towers and apartment buildings that would lower demand for rental units in the surrounding area.

4. Long Term Potential

The Oklahoma City real estate market is bolstered over the long term by its excellent long term demographic trends. The median age is in the mid-thirties, several years younger than the rest of the country. A quarter of the population is under age 18, and because of the strong local economy, they don’t have to move away to find work. Expect locals to stay and raise their families here, keeping the local Oklahoma City housing market stable.

5. Affordable Housing Stock for Investors

The Oklahoma City real estate market is notable for how affordable real estate is. The median value of an owner-occupied home according to the Census was $143,000 as of 2016. In 2018, the media value was $155,000. Despite this price appreciation, you can buy single family homes to rent out at a fraction of the cost of a California condo.

6. A Fairly Large Pool of Potential Renters

Kiplinger gave Oklahoma City a 3 for affordability by first time home buyers. The median household income is around $50,000. This means that there is a moderately large minority of residents who cannot afford to buy a home despite the relatively low cost of real estate.

7. Good Rental Rates

According to Census.gov, the median gross rent between 2012 and 2016 in Oklahoma City was around $800. However, the rental rate depends on where you live and how large the place is. For example, a one bedroom apartment in downtown costs around $800 a month to rent whereas you’d pay about $600 a month in the suburbs. A three bedroom apartment in the suburb costs $1000-$1100 per month, whereas you’d pay $1300 or more per month for a three bedroom apartment. Many residents would pay this amount or a little more to rent a single family home, while the mortgage and property taxes on the property would let the landlord clear several hundred dollars a month.

8. Overall Market Stability

We touched on the topic of not wanting to end up buying at the peak of a housing bubble before the collapse. For those who want to know their investment will retain its value, you’ll appreciate knowing that Oklahoma City is one of the least volatile housing markets in the country. The FHFA home price index only showed year over year declines in four quarters between 2011 and 2016. While these years aren’t the worst for real estate (see the 2007-2008 housing collapse), they reflect a large part of the Obama recession where housing fluctuated wildly before beginning to recover.

9. A Large Student Population

Oklahoma City is notable for the relatively large number of colleges and universities in the area. There are five public universities in Oklahoma City and its suburbs. There are fifteen more private universities in and around the city. If you want to invest in the Oklahoma City housing market while catering to students, this diversity is a plus because the value of the housing isn’t tied to the rise and fall of one particular university.

10. It Is Better Than Tulsa in General

We think the Oklahoma City real estate market is a better choice for real estate investors than neighboring Tulsa for several reasons. Tulsa keeps showing up in lists for first time home buyers because it is more affordable than Oklahoma City. That means there are fewer potential renters who would pay well to rent a good single family home or apartment. Tulsa has twice the population density. That makes single family homes for rent more expensive and harder to find for potential landlords. The smaller average household size in Tulsa reduces the share of the population that wants to rent a larger residence, as well. Oklahoma City has a slightly lower cost of living than Tulsa, as well, attracting more residents from out of state and improving profit margins for property owners.

Source  http://www.noradarealestate.com/blog/oklahoma-city-real-estate-market/

Call Tom or Karyn at Key Realty and Property Management today…   405-605-6445

Looking to Buy or Sell Investment Property? Needing a good Property Management Company? Look no further than Key Realty and Property Management 405-605-6445 or text to 405-409-7779   http://www.keyrealtyokc.com #propertymanagement #okcrentals #corporatehousing #investmentproperties Key Realty

Best Large Cities to Start a Business – Oklahoma City ranks #1 

May 4, 2018 by kseabrooke Leave a Comment

Oklahoma City ranks #1 

Source Wallethub.com

Best Large Cities to Start a Business – Oklahoma City ranks #1 

This makes Oklahoma City an Excellent Market to purchase your Investment Property. 

Americans are born with an entrepreneurial streak. It’s in our DNA. From the Gold Rush to the Industrial Revolution to the Internet Age, intense periods of innovation have molded our economy and sparked important societal advancements.

Today, more than 15 million people in the U.S., or about 10 percent of the labor force, work for themselves. And there is always room in the market for new ideas, products, services and multi-million-dollar success stories — if one knows where to look.

In order to help aspiring entrepreneurs — from restaurant owners to high-tech movers and shakers — maximize their chances for long-term prosperity, WalletHub compared the relative startup opportunities that exist in more than 180 U.S. cities. We did so using 19 key metrics, ranging from five-year business-survival rate to office-space affordability. Check out our findings, additional expert commentary and a detailed methodology below.

For a breakdown of smaller markets, check out WalletHub’s  Best Small Cities to Start a Business ranking.

Call us today for your Real Estate Investment Property.

Key Realty and Property Management  405-605-6445

 

 

FESTIVAL OF THE ARTS – APRIL 24 – 29, 2018 | BICENTENNIAL PARK, DOWNTOWN OKC

April 20, 2018 by kseabrooke Leave a Comment

FESTIVAL OF THE ARTS 

APRIL 24 – 29, 2018 | BICENTENNIAL PARK, DOWNTOWN OKC

Festival of the Arts takes place at Bicentennial Park in downtown Oklahoma City.  The event stretches from Lee Ave east to City Hall, and from Colcord north to Couch Drive, with 750,000 Festival attendees! Come explore and be part of an OKC tradition! 

Festival is open from Tuesday-Saturday, 11 a.m.–9 p.m., and Sunday from 11 a.m. –6 p.m.—rain or shine!

TRAVELING TO THE FESTIVAL

Getting to the Festival is easy.  To see a Google map, click HERE.  To see a list of downtown parking options, click HERE. From I-40, take the Downtown/Shields exit.  The Festival is located in Bicentennial Park, on Walker between Colcord and Couch, and on the City Hall lawn. When traveling to the festival please note that Walker will be closed between Colcord and Couch Drive.

PARKING

Parking will be available in the Arts District Garage located just south of City Hall, as well as the lot located at 444 West Reno.                        A Chesapeake Energy CNG shuttle will pick up passengers at the parking lot every fifteen minutes from 10 a.m. to 10 p.m. daily during the festival. This lot is paid parking.

Paid parking is available in lots and garages located throughout downtown Oklahoma City. There is also limited street parking located around the perimeter of the event. Please visit www.parkingokc.com to see a list of available lots.

Source – Arts Council Oklahoma City 

Key Realty and Property Management

405-605-6445

Interested in Real Estate Investment Property?

February 19, 2018 by kseabrooke Leave a Comment

WHY OKLAHOMA CITY MAKES ONE OF THE GREAT REAL ESTATE INVESTMENT MARKETS TODAY

Oklahoma City, OK is one of the GREAT real estate investment markets right now. With sustainable growth and cash flow, it is a top pick for  real estate investment and investors! Check out the Oklahoma City turnkey investment properties on our website or give us a call, but FIRST, read why this is such a great Investment Market!Key Realty and Property ManagementIf you could design the perfect cash flow market, what would you want? –

Long term sustainable returns, both cash Flow and Capital Growth (appreciation)  Oklahoma City has the attributes that seasoned investors are looking for in a real estate investment.

  • High rents compared to purchase prices
  • High demand for rental units with low vacancies
  • Easy and fast eviction laws
  • High incomes relative to home prices
  • Low unemployment
  • Great school systems
  • Undervalued market
  • Baby boomer appeal
  • Local government with a 15 year growth initiative (in full swing and effective)
  • Lowest unemployment (for cities over 1 million population) 3.5% (Forbes)
  • 2nd best place to start a small business ( Business Journal)
  • 5th best city to retire in (AARP)
  • 7th best boomtown / population growth (Bloomberg)
  • 17th fastest growing city in the country (Forbes)

OKLAHOMA CITY IS A REAL ESTATE INVESTMENT MARKET THAT OFFERS VIRTUALLY ALL OF THE FIVE WEALTH BUILDING PRINCIPALS

Oklahoma city market reflects the I.D.E.A.L. investment as it can will will provide:

  • Income: from positive cash flow
  • Deductions: reduced tax liabilities are money in your pocket
  • Equity: Tenants’ paying down your mortgage increases your return at sale
  • Appreciation: the economy in this emerging market is poised to maximize your appreciation (this is where wealth is created)
  • Leverage: financing will be available for our foreign and domestic investors allowing you to make money off of borrowed money (O.P.M.)

Your strongest most sustainable markets are those markets that have forward thinking city initiatives with plans for strategic growth. Oklahoma city has done their diligence and has captured the spirit of economic growth in this set of 3 (Oklahoma City 5 year initiative plan).

You got to love forward thinking long term visionaries and Oklahoma City has definitely done their homework. They created the 5 year initiative and all you have to do is tour the city and see the growth this proud city is experiencing.

WOULD LIKE TO FIND OUT MORE ABOUT THE OKLAHOMA CITY MARKET?

Call Tom or Karyn at Key Realty and Property Management – 20+ years as Property Owners and Property Managers for over 80 clients.

tom@keyrealtyokc.com

karyn@keyrealtyokc.com

405-605-6445  

Afraid of a Bubble? Buy Without Fear in These Top 10 Stable, Growing Markets

July 26, 2017 by kseabrooke Leave a Comment

Key Realty and Property Management

Special Thanks to  http://cherylcorealestate.com/

Today’s rapidly skyrocketing home prices are making more than a few people nervous.

After all, it was only about a decade ago that the U.S. real estate market bubble burst, and millions of Americans lost their homes (and for many, life savings). And, as most of us recall all too well, plenty of others found themselves underwater on their mortgages, owing more than the homes were worth. But then came … the recovery. God bless the recovery! The housing market and economy have come roaring back. Some markets, in fact, are booming to historic levels.

So let us put you at ease: What goes up doesn’t have to come crashing down. As we’ve said before, record-high prices alone do not make a bubble. Still, if playing it safe is your top priority, we’ve got you covered. Our data team at realtor.com® set out to find the real estate markets that are least likely to pop if the country heads toward another recession—metros where home prices are still rising at a healthy (versus dizzying) pace.

We also only included markets where the supply of homes for sale is still large enough that buyers are unlikely to be pulled into costly bidding wars.

“These are the Goldilocks of today’s housing market,” says Javier Vivas, manager of economic research for realtor.com. “Not too hot, and not too cold, these markets present the right balance of housing and economic conditions for buying and selling activity to evolve naturally.”

Of course, no market is completely bulletproof against another financial crisis. But these cities, with their strong and diversified industries, come pretty darn close. Plus, steadily rising price appreciation means that they’re likely to be solid investments for the long haul. And slow and steady wins the race, right?

“They have rising demand, and the corresponding supply to quench it,” Vivas says. “And they’re all relatively smaller metros, often with large nearby siblings eating up any potential irrational growth, which keeps them from overheating.”

To identify the 10 metros where you can buy a home and rest easy about it, we compared the 150 largest U.S. housing markets, using nine key metrics:

  • Positive (but not out-of-control) price appreciation of between 4% and 12% in 2016
  • An ample supply of homes for sale (between three and seven months available)
  • Affordability, measured by the percentage of income needed to buy a home
  • New home construction recovered from the recession
  • Median number of days homes are on the market (the lower the better)
  • Foreclosure rate
  • Percentage of homes underwater
  • Percentage of homes with price reduction (yep: Lower is better)
  • Low unemployment rate

Got it? So stay calm, get comfortable, and take a tour through our list of America’s most rock-steady markets.

  1. Fort Collins, COMedian home price: $376,000

    Annual price growth: 7%

    Colorado State University and a robust high-tech scene, which includes Hewlett-Packard and Intel, contribute to an enviable unemployment rate of 2.9% in this city of 160,000, the state’s fourth biggest. Fort Collins also has a third line of defense against economic downturns: the beer industry. It is home to a major Anheuser-Busch facility and 22 craft breweries—and as the Prohibitionists found, the alcohol industry is awfully tough to kill.

    “Largely due to its diverse economy, the Fort Collins market has been extremely stable,” says Realtor Larry Kendall of the Group. “During the recession, our home prices didn’t fall nearly as much as the rest of the country.”

    Fort Collins is also very affordable—at least by Colorado standards. The median home price is about 25% less than in Denver and 40% less than in Boulder, CO, both of which are about an hour away.

    Housing highlight: The city is home to River Rock Commons, a progressive cohousing development of nearly three dozen single-family homes set up around a common house, where residents can prepare communal meals they can enjoy with one another. Togetherness rules.

  2. Madison, WIMedian home price: $272,500

    Annual price growth: 10%

    The University of Wisconsin infuses Madison with a young, hip, and relentlessly energetic vibe. That feeds directly into the ultra-walkable downtown lined with cafés and restaurants. But if that’s not your scene, residents can take advantage of the miles of hiking and biking trails along idyllic lake shores.

    Homeowners here also have a low risk of foreclosure. Only 28 homes were shuttered in the last quarter of 2016, representing less than 2% of all home sales.

    “That’s because we have a solid economy, with very few layoffs,” says realtor Alex Saloutos of First Weber Realtors. “Coming off the last recession, buyers are also much more cautious. They don’t max out their [debt-to-income] ratio.”

    The University of Wisconsin is the area’s largest employer, but there are also jobs to be had with companies like health care software maker Epic Systems and insurance provider Wisconsin Physicians Service.

    Housing highlight: Wisconsin state Rep. Melissa Sargent, who hails from Madison, recently proposed a law that would increase the number of “sober housing” developments in the state, intended for drug addicts and alcoholics in recovery.

  3. Durham, NCMedian home price: $320,000

    Annual price growth: 10%

    Top schools like Duke and the University of North Carolina at Chapel Hill supply a steady stream of talent to Durham’s thriving health care and research industries.

    Research Triangle Park, aka “Smartsville, USA,” is one of the world’s largest research centers. More than 200 high-tech companies, including IBM and Cisco, operate there. Throw a rock, and you might hit a Nobel Prize-winning scientist or inventor of the next life-altering tech startup. (But don’t throw rocks, please.)

    “People are starting to notice Durham,” says Courtney James, owner of Urban Durham Realty. “It’s a relatively affordable market for young people graduating from universities and creating their own startups. This is a young city, full of creative energy.”

    Housing highlight: When living in traditional homes gets boring, Durham residents can move into tobacco mills converted into awesome lofts with 22-foot ceilings at the Apartments at American Tobacco.

  4. Honolulu, HIMedian home price: $649,500

    Annual price growth: 9%

    How the heck did gorgeous, universally desired Honolulu wind up on this list? Affordability clearly isn’t the Hawaiian capital’s greatest asset, but high rankings across all of our other metrics make it a surprisingly stable market. The Polynesian paradise has an extremely low foreclosure rate (2%), very few underwater homes (4%), and a jealousy-inducing unemployment rate (2.8%).

    And, hey, who doesn’t love crashing waves, lush palm trees, and sun-drenched beaches? Those lures, which draw legions of tourists from all over the world, helped to insulate the city—for the most part—from the last recession.

    “We have a well-balanced combination of mainland and international buyers, which cushioned us through the last mortgage meltdown,” says Khai Tran, a real estate agent with Coldwell Banker Pacific Properties.

    Housing highlight: There’s a push to bring back the traditional Polynesian hale homes in Hawaii, as a way to create more affordable housing for the state’s low-income and homeless residents. The thatched homes are typically made of local trees and plants.

  5. Greenville, SCMedian home price: $234,000

    Annual price growth: 10%

    Greenville strikes a remarkable balance between economic diversity (aka a variety of jobs) and a high quality of life. The city has no shortage of large companies with local operations, like the multinational conglomerate 3M, General Electric, and Michelin, which is drawing younger and older workers alike. Yet, it still serves up an affordable cost of living, with a revitalized downtown filled with cool restaurants and bars, art galleries, and boutiques lining the popular Falls Park, and yep, even a craft distillery.

    Realtor Lindsay Saunders, of Greenville Home Girls, says the majority of her clients are younger professionals relocating to Greenville thanks to corporate job opportunities and the city’s affordability.

    “They sold their homes in big cities like Charlotte and Atlanta, come here, buy a home, and live comfortably with the rest of their savings,” Saunders says.

    Bucking the national trend, Greenville does not suffer from the problem of having too few homes for sale. That’s due to a building boom that’s reshaping the city.

    Housing highlight: Completed in 2004, the beautiful 345-foot Liberty Bridge in Falls Park holds 1,300 people at a time, supported by a single suspension cable. The stunning downtown view is just a bonus.

  6. Ann Arbor, MI
    Median home price: $286,000Annual price growth: 10%

    The University of Michigan is a huge economic and cultural force here. Benefiting from a highly skilled workforce, Ann Arbor has thriving technology and health care communities, including Trinity Health and University of Michigan Medical Center.

    Deb Odom Stern, an associate broker at Charles Reinhart Realtors, says she has never worked with any sellers who are “moving away from Ann Arbor because they lost their jobs.” The majority of her clients are out-of-towners relocating to Ann Arbor for work.

    In the off-hours, there are plenty of things to do. Michigan Stadium, the country’s largest stadium, is packed with Wolverine fans during University of Michigan games. In addition to museums and performing art centers, Ann Arbor—which some people consider the city with the most educated population in the United States—has a reservoir of independent bookstores.

    Housing highlight: Ann Arbor is dotted with “fairy doors,” unique and exquisitely detailed tiny entrances set into walls around town. Many of them open onto miniature rooms. Cute, huh?

  7. Manchester, NHMedian home price: $293,500

    Annual price growth: 9%

    With colorful foliage, Colonial-style homes, and the occasional moose, Manchester conjures up a bucolic Northeastern mise en scènethat’s becoming increasingly rare. Just an hour’s drive north of Boston, Manchester is a commutable destination for home buyers fleeing the ridiculously competitive big-city market. Its median home price is only two-thirds of what they would pay in Boston.

    A longtime manufacturing center, New Hampshire’s largest city has made big strides in exploring new industries. The downtown has an emerging high-tech hub, including a revitalized mill building serving as a startup incubator with a catchy name: Silicon Millyard. And Manchester’s unemployment rate of 3% is among the country’s lowest.

    “A lot of millennials [have been] moving into the downtown area in the past several years,” says local real estate agent Moe Archambault, owner of Moe Marketing Realty Group. Obviously, he says, the draw is “job availability—the Silicon Valley type of employment.”

    Housing highlight: Comedian Adam Sandler grew up in Manchester, and never lets his fans forget it. “Grown-Ups 2” prominently featured Manchester’s iconic diner Red Arrow—recreated on location in nearby Marblehead, MA.

  8. Salem, ORMedian home price: $283,000

    Annual price growth: 11%

    As the state capital of Oregon, Salem brims with state and federal employees. Surrounded by picturesque countryside, Salem is a regional hub for agribusinesses—including Kettle Foods, maker of dangerously addictive potato chips—and a booming renewable energy sector.

    And home prices are only two-thirds of what they are in pricey hipster Portland, just an hour away.

    Education is a big plus for Salem, too. The Salem-Keizer School District is the second-largest school district in Oregon, with 65 schools and about 41,000 students.

    A solid economy helps to buoy Salem’s housing market. Just 13% of homes in Salem had price reductions in 2016, among the lowest in our study.

    Housing highlight: Salem is smack-dab in the middle of Oregon’s wine country, and you can even live in a winery—Ankeny Vineyard is currently on the market at only $895,000.

  9. Oklahoma City, OKMedian home price: $219,000

    Annual price growth: 7%

    The capital of Oklahoma has more going on than tornadoes. The city is home to the most rabidly loyal fan base in the NBA, and more rodeo festivals than you’ll ever have time to attend. Most importantly, with such an affordable median home price, buyers can realize their dream of a spacious home with a backyard for the kids.

    Oklahoma City is also A-OK when it comes to dealing with recessions. It was the big city the least affected by economic downturns between 1990 and 2015. according to a study in the Journal of Urban Economics.

    The recent oil slump did have some impact here. But so far, home prices have been holding up. Prices went up 7% last year, down from 11% in the previous year, but much more than in other oil-dependent cities, such as Midland, TX (-7%), and Bismarck, ND (-7%).

    That’s partly due to a diverse economy of oil and gas, state government, and the Tinker Air Force Base, which help to safeguard it against economic volatility.

    Housing highlight: Oklahoma City’s most expensive home on the market comes with a private pond and an awesome grotto. A steal at $4.75 million.

  10. San Antonio, TXMedian home price: $276,000

    Annual price growth: 5%

    Dubbed “Military City, USA,” San Antonio is home to four major military bases, which supply more than 80,000 jobs. The city is blessed with strong bioscience and health care industries, which employ 1 out of every 6 San Antonians.

    The city also has attractions like the bustling River Walk, the tourist fave Alamo, and lots of picturesque Greek Revival historic homes downtown.The city’s old-world charm attracts not just tourists, but residents who bond over tacos.

    To meet the housing demand, new condos have been popping up all over the metro.The good news: San Antonio still has room to grow! At a whopping 461 square miles, it ranks as the ninth-largest city by area in the contiguous United States.

    Housing highlight: King William Historic District, a historical neighborhood with beautiful Victorian-style homes, dates to the 1790s and is San Antonio’s first suburb.

Yuqing Pan, a Stanford graduate with a multimedia journalism background, writes data-driven stories for realtor.com.
Follow @YuqingPan

Call Karyn with Key Realty and Property Management to start or add to your OKC Investment Properties Portfolio. 

405-605-6445

List and Sell Your Home on MLS 4% Commission

September 30, 2016 by kseabrooke Leave a Comment

Fall Special – List and Sell Your Home on the MLS  Only 4 % Commission

That’s right folks, this Fall we are giving all Home Sellers a break on Commissions.  Save A Bunch…

Traditionally, Real Estate Companies charge Commissions and Fees to Sellers equal to 6% or higher for Listing and Selling their Clients Homes “For Sale” on the MLS.  Well, take advantage of our “Fall Special” and get the same exposure you would expect from a Real Estate Company here in OKC – but for a Lot Less.

Your Home will be seen by all Real Estate Companies and their Agents and all people searching on sites like Trulia, Realtor.com and of Course the OKC MLS and all other Partners Sites.

Call, text or email Tom at KeyRealtyOKC.com for more details and get started on the Amazing Journey – sell your home and let Tom help you look for your next Dream Home   Text to 405-409-7608  or tom@keyrealtyokc.com

Here are a few tips for Sellers…Special Thanks to HGTVhttp://www.hgtv.com/design/decorating/design-101/10-best-kept-secrets-for-selling-your-home

Selling Secret #10: Pricing it right
Find out what your home is worth, then shave 15 to 20 percent off the price. You’ll be stampeded by buyers with for sale  multiple bids — even in the worst markets — and they’ll bid up the price over what it’s worth. It takes real courage and most sellers just don’t want to risk it, but it’s the single best strategy to sell a home in today’s market.

 

 

Selling Secret #9: Half-empty closets
Storage is something every buyer is looking for and can never have enough of. Take half the stuff out of your closets then neatly organize what’s left in there. Buyers will snoop, so be sure to keep all your closets and cabinets clean and tidy.

Selling Secret #8: Light it up
Maximize the light in your home. After location, good light is the one thing that every buyer cites that they want in a home. Take down the drapes, clean the windows, change the lampshades, increase the wattage of your light bulbs and cut the bushes outside to let in sunshine. Do what you have to do make your house bright and cheery – it will make it more sellable.

Selling Secret #7: Play the agent field
A secret sale killer is hiring the wrong broker. Make sure you have a broker who is totally informed. They must constantly monitor the multiple listing service (MLS), know what properties are going on the market and know the comps in your neighborhood. Find a broker who embraces technology – a tech-savvy one has many tools to get your house sold.

Selling Secret #6: Conceal the critters
You might think a cuddly dog would warm the hearts of potential buyers, but you’d be wrong. Not everybody is a dog- or cat-lover. Buyers don’t want to walk in your home and see a bowl full of dog food, smell the kitty litter box or have tufts of pet hair stuck to their clothes. It will give buyers the impression that your house is not clean. If you’re planning an open house, send the critters to a pet hotel for the day.

Selling Secret #5: Don’t over-upgrade
Quick fixes before selling always pay off. Mammoth makeovers, not so much. You probably won’t get your money back if you do a huge improvement project before you put your house on the market. Instead, do updates that will pay off and get you top dollar. Get a new fresh coat of paint on the walls. Clean the curtains or go buy some inexpensive new ones. Replace door handles, cabinet hardware, make sure closet doors are on track, fix leaky faucets and clean the grout.

Selling Secret #4: Take the home out of your house
One of the most important things to do when selling your house is to de-personalize it. The more personal stuff in your house, the less potential buyers can imagine themselves living there. Get rid of a third of your stuff – put it in storage. This includes family photos, memorabilia collections and personal keepsakes. Consider hiring a home stager to maximize the full potential of your home. Staging simply means arranging your furniture to best showcase the floor plan and maximize the use of space.

Selling Secret #3: The kitchen comes first
You’re not actually selling your house, you’re selling your kitchen – that’s how important it is. The benefits of remodeling your kitchen are endless, and the best part of it is that you’ll probably get 85% of your money back. It may be a few thousand dollars to replace countertops where a buyer may knock $10,000 off the asking price if your kitchen looks dated. The fastest, most inexpensive kitchen updates include painting and new cabinet hardware. Use a neutral-color paint so you can present buyers with a blank canvas where they can start envisioning their own style. If you have a little money to spend, buy one fancy stainless steel appliance. Why one? Because when people see one high-end appliance they think all the rest are expensive too and it updates the kitchen.

Selling Secret #2: Always be ready to show
Your house needs to be “show-ready” at all times – you never know when your buyer is going to walk through the door. You have to be available whenever they want to come see the place and it has to be in tip-top shape. Don’t leave dishes in the sink, keep the dishwasher cleaned out, the bathrooms sparkling and make sure there are no dust bunnies in the corners. It’s a little inconvenient, but it will get your house sold.

Selling Secret #1: The first impression is the only impression
No matter how good the interior of your home looks, buyers have already judged your home before they walk through the door. You never have a second chance to make a first impression. It’s important to make people feel warm, welcome and safe as they approach the house. Spruce up your home’s exterior with inexpensive shrubs and brightly colored flowers. You can typically get a 100-percent return on the money you put into your home’s curb appeal. Entryways are also important. You use it as a utility space for your coat and keys. But, when you’re selling, make it welcoming by putting in a small bench, a vase of fresh-cut flowers or even some cookies.

Save on your Commissions and List and Sell with Tom – Key Realty and Property Management

Call or Text to  405-409-7608

0r email to  tom@keyrealtyokc.com

 

 

OKC, Good Jobs, Affordable Housing and High Quality of Life

June 13, 2016 by kseabrooke Leave a Comment

Only Three US Cities Have Good Jobs, Affordable Housing, and High Quality of Life

When looking for a place to live and to invest, people are generally looking for three things: affordability, a strong economy, and good quality of life. Most US cities can only claim excellence in one of these areas. A dozen cities specialize in two. But if you truly want it all, you only have three choices.

And they’re all in the Midwest.

That’s the finding of Josh Lehner at the Oregon Office of Economic Analysis, who explored what’s being called the “housing trilemma”—the idea that due to the housing crisis, Americans have to make big tradeoffs in deciding where to live. Lehner looked at the 100 largest metropolitan areas in the country, comparing them for quality of life, affordability and economic strength across several metrics using Census data and several other indicators.

According to his data (which you can see here), if you want a city that excels in all three, you have just three choices:

  • Oklahoma City, Oklahoma
  • Omaha, Nebraska
  • Des Moines, Iowa

In fact, only 15 cities got high marks in two categories, most of them focused in quality of life. But if it’s most important for you to live in a place with good quality of life and economic strength, you’ll pay more to live there. In fact, this is usually what eventually drives those cities off this Venn diagram, as Lehner explains. Cities that become too desirable become too expensive:

The reason these trade-offs exist is mostly, but not entirely, due to market forces. People want to live in cities with a strong economy and high quality of life. Increased demand for housing leads to higher prices and lower affordability. Nice places to live get their housing costs bid up due to strong demand. The opposite is true as well. Regions with under performing economies and a lower quality of life do have better affordability.

San Francisco, of course, is the quintessential example of a city that has a huge affordability problem that’s keeping people out, even as it remains a great place to live with job growth that’s exploding.

But look at another place that is slowly edging off this chart: Portland, Oregon, which has been celebrated for its quality of life and strong job growth, but in the last few years the city has become way less affordable. Portland is also a unique case in that it has very, very low vacancy rate, which makes it harder for renters to find affordable places to live.

The solution to move more US cities into that sweet spot with Des Moines, Omaha, and OKC is the same one you’ve been hearing throughout the housing crisis: Build more housing.

For more information on Investment Property in Oklahoma City, contact Karyn Seabrooke at

Key Realty an Property Management  405-605-6445

Ranch House and 25 Acres for Sale

May 20, 2016 by kseabrooke 1 Comment

Ranch House and 25 Acres for Sale in Yukon

ranch house for sale

All this in Yukon for just $575,000

This Amazing home was remodeled from floor to ceiling in 2015 with an open concept. Wow new HVAC System  2015,  New heat pump & water softener 2015.  Well water & septic tank, new lighting through out, Wood like Porcelain tile floors throughout, wood burning fire place to cozy up to, raised ceiling in formal great room, built ins, double pane windows. Open kitchen with plenty of counter space and storage, stainless steel appliances, dishwasher, refrigerator, builtin in convection oven, built in microwave, granite counter tops. Knotty Alder woodwork on ceilings, trim and doors. Want to step outdoors do so through the front and back patios. Have cattle or horses? We have an amazing 50’x 60′ Morton Barn, steel storage container, 6 horse hydraulic horse walker, Horse training area, 150′ x 250′ roping area, beautiful pasture and pond, red clay, no way we have sandy soil, the entire property is fenced and North Canadian River is north boundary…A dream home waiting for you. Call us today!!

Karyn Seabrooke

Key Realty and Property Management

405-605-6445

Executive Condo For Lease, Short Term

February 25, 2016 by kseabrooke Leave a Comment

Executive Condo For Lease

Jamestown Condominiums has 2 Executive  Condo’s for Lease / Furnished or Unfurnished

Description
Comfortably elegant and glamorous, these homes will delight you with their gracious proportions. Spacious, light-filled rooms flow effortlessly from one to the next in the central living spaces. Traditionally timeless finishes blend beautifully with classic, modern elements for the art of living well. These properties offer a maintenance free lifestyle within their gated walls. The exterior of Jamestown is a nod to the unique beauty of New Orleans with its lovely Georgian style architecture. Please come and experience these lovely homes for yourself.

6440 Brandywine Lane, 2301 SF Luxury Condominium – $3,500 per month, HAO included

6448 Brandywine Lane, 3052 SF Luxury Condominium – $4,500 per month, HOA incuded

Either unit furnished, Elegant Furniture – $600 extra. Minimum 6 month contract.
Property Amenities

Architecture Style: Georgian  executive homes for lease oklahoma city
Cable Ready
Cooling System: Central A/C
Double Pane Windows
Exterior Type: Brick
Fireplace
Floor Covering: Hardwood
Gate
Heating fuel: Natural Gas
Jetted Bathtub
Parking Spaces: 2
Parking Type: Carport
Patio
Porch
Roof Type: Composition Shingle
Room Count: 6
School District: Oklahoma City
Security System
Stories: 3
View Type: Park
Wet Bar
Year Built: 1975

Schools

Students who live in this sale at 6448 Brandywine Lane attend the following Oklahoma City School District (Unified School District) public schools:
School Level School
Primary School West Nichols Hills Elementary
Middle School John Marshall Middle School
High School John Marshall Middle High School
* School attendance boundaries are constantly changing and may contain errors. Always verify them with school administration before making any commitments relating to this property.

Call Karyn at Key Realty and Property Management  to schedule showings.

Renting vs Buying, OKC Real Estate Market

January 27, 2016 by kseabrooke Leave a Comment

OKC Real Estate Market

This Video brought to you from our Friends at  How to Adult

 

Special thanks to Geoff Williams at Money.USNes.com
When Laurence DeGaris moved into his first house last August, at the age of 49, the University of Indianapolis marketing professor quickly found himself missing some of the pleasures of renting.

“The best thing in my old place was Lou,” DeGaris says. “Faucet leaking? Call Lou. Air-conditioning not working? Call Lou. Now that I’m a homeowner, I got no ‘Lou.’ You know anyone who does gutters in Indianapolis?”

Is it better to rent or buy a house? That’s a question virtually all adults ask themselves at one point or another, and especially around this time of year, as some people consider their goals and plans for the year ahead. So before you answer the question, here are some other questions you should ask yourself first.

Is it important that your house is an investment? If it’s very important, you might want to rethink your future living arrangements. “Americans were used to their homes being a store for wealth – something to liquidate in retirement and downsize,” says Scott Shellady, a senior vice president of derivatives for Trean Group, a futures and commodities exchange in Chicago. “No longer the case. Houses can go down just as easily as they go up.”

[See: A Step-by-Step Guide to Homebuying.]

He adds: “The bull run in housing we saw in the ’90s and early 2000s will not happen again in our lifetime.”

Shellady also cautions prospective homeowners to think about the health of the city they want to live in before taking out a mortgage. “Bankrupt municipalities can’t put out fires. They can’t stop thieves. They can’t pick up trash and they can’t maintain roads,” Shellady says. “How much would your house be worth if your municipality was in that situation?”

This isn’t to say your house won’t be worth more someday versus when you bought it. But if you want a robust investment portfolio more than you want to buy a house, talk to a financial adviser instead of a real estate agent. Additionally, if you believe you’re going to be in a house less than five years and want to sell it at a profit, most experts suggest it’s safer to stick with renting.

Have you crunched all the numbers? Ron Throupe, an associate professor of real estate at the University of Denver, says the biggest mistake future homebuyers make is comparing a month’s rent to a month’s mortgage payment.

“Many people don’t have all the numbers,” he says. “There are many additional fees you need to include to make a fair comparison: the principal interest, property taxes, property insurance, homeowners association fees and maintenance.”

The maintenance, in particular, can’t be underestimated, he says. As DeGaris found out, if your furnace goes out or a pipe leaks, you have to fix it yourself or hire a professional. And there are other ancillary costs as well. “As a homeowner, you may find you suddenly need lawnmowers and snow shovels and new furniture,” Throupe says. “It all adds up.”

Can you handle the stress? “Most people weigh the financial aspects of buying versus renting, as they should, since it’s the biggest financial decision most people will make. But one big factor to consider when buying a home is stress,” says Tim Lucas, editor-in-chief of mymortgageinsider.com, an informational website.

Lucas says the Holmes and Rahe Stress Scale, a landmark stress study conducted in 1970, ranks many events that go along with buying a home in the top 43 most stressful circumstances in life. Four events are specifically home-related: change in financial state (No. 16), large mortgage or loan (No. 20), change in living conditions (No. 28) and change in residence (No. 32).

“If someone has recently made other life changes such as marriage, which is No. 7, switching careers (No. 18) or having a child (No. 14), it might be wise to postpone buying a home,” Lucas says. “Stress overload can lead to missed payments, which can result in destroyed credit or even losing the home. It’s better to rent if your life is in flux, and then buy when your stress levels are lower.”

For all your Oklahoma City Real Estate Needs… Call Karyn at Key Realty and Property Management.

405-605-6445

 

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Key Realty and Property Management LLC

426 NW 5th Street, Suite #150
Oklahoma City, OK 73102

(405) 605-6445 Office | (405) 605-6440 Fax
Contact Karyn

Karyn Seabrooke

Key Realty and Property Management is a full service real estate company specializing in residential, commercial, investment real estate and offers professional property management. Karyn has been involved in property ownership, management, and real estate development in Oklahoma City since 1994. Meet Karyn Seabrooke
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