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Karyn Seabrooke - Oklahoma Realtor®
(405) 605-6445
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Downtown Investment Property, Office, Two Bedroom Loft and Warehouse

December 8, 2020 by kseabrooke Leave a Comment

OKC Investment Property, Office, Loft and Warehouse

This multi-use building includes with Office, Warehouse and a Two Bedroom Loft. okc office

This Amazing Downtown Office building, Warehouse and 2nd story Apartment Flat is a gem to find in the heart of Downtown OKC.    Walking distance to the Midtown district, Museums, Fine Restaurants, and Scissor Tail Park.

The lower Law Office has been remodeled in 2006 and holds 3 office spaces, a conference room, copy room, 2 additional work stations, break room and 2 bathrooms. Comes with 8 marked parking and potentially 2 additional exterior parking spaces. Love to live where you work, you can, with the upstairs 2 bed 2 bath loft apt with elevator and 2 reserved interior garage parking.

The apartment has a formal living and formal dining, wonderful kitchen with an open layout. The upstairs laundry is very convenient and has an amazing outdoor patio that will allow for entertaining and or quiet get away in the heart of the city life. The attached warehouse space   is ready to be built to suit by any new owner or tenant.

Apartment is 2250sf, Law office is 2875sf and Warehouse is 2750sf.

Property is easy to show contract listing realtor 405-409-7989. 2019

Utility Costs = $4344.00 (The utility account combines, gas, water/trash and electric.)                                                 2019 Ad Valorem Taxes = $4599.00                                                                                                                                                                                                2020 Insurance for building – $5125.00                                                                                                                                              Office remodeled in 2006. Upstairs flat has fire (wet) suppression system. ZONED Commercial/Residential.            Listing Realtor related to seller

411 NW 5th ST, Oklahoma City, OK 73102

www.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

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

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

 

Oklahoma City Real Estate Market

November 2, 2015 by kseabrooke Leave a Comment

Oklahoma City Real Estate Market

   Courtesy of Fortune Builders Inc. source

Oklahoma City real estate investing has seen a lot of ups and downs in the years following the recession. However, thanks in part to the expansion of the economy, and in particular the oil industry, local housing is doing very well for itself. Things appear to be in a sustainable, upward trajectory for the time being.

With home prices averaging $152,900; the Oklahoma City real estate market is considerably behind the national average. In fact, Oklahoma City homes are about $55,000 less than the national average. The difference is largely the result of recent appreciation rates. While prices in the Oklahoma City real estate market continue to grow relative to last year, they are not on pace with the rest of the country. Over the course of a year, homes in Oklahoma City have appreciated at a rate of 2.5 percent, less than half the national average. It isn’t until you look back at least three years, however, that you discover the significant difference in home prices. Over the last three years, Oklahoma City homes have appreciated just 6.9 percent, whereas the national average was above 28 percent.

Oklahoma City Real Estate Market Statistics

While Oklahoma City homes have yet to keep pace with appreciation rates across the country, there is no denying the amount of equity that has returned to the area since the recession. The following highlights how much equity has been gained relative to the year of the home’s purchase:

  • Homes purchased in the Oklahoma City housing market one year ago have appreciated, on average, by $5,975. The national average was $14,170 over the same period.
  • Homes purchased in the Oklahoma City housing market three years ago have appreciated, on average, by $17,056. The national average was $53,857 over the same period.
  • Homes purchased in the Oklahoma City housing market five years ago have appreciated, on average, by $26,927. The national average was $48,036 over the same period.
  • Homes purchased in the Oklahoma City housing market seven years ago have appreciated, on average, by $30,465. The national average was $13,870 over the same period.
  • Homes purchased in the Oklahoma City housing market nine years ago have appreciated, on average, by $52,060. The national average actually decreased by as much as $2,822 over the same period.

oklahoma city real estate market key realty and property management

Oklahoma City real estate investing owes a lot of its success to the local economy and job market. The recent oil boom has the region in a position to succeed in the immediate future. With that said, the job market should continue to support supply and demand within the housing sector. Recent data suggests that the unemployment rate in Oklahoma City is as low as 3.6 percent. That is two whole percentage points lower than the national average, and experts think it will only improve in the coming months. In fact, the only facet of the Oklahoma City job market more promising than the unemployment rate may be job growth. At 3 percent, 1-year job growth is well about the national average and expected to continuing in an upward direction. For all intents and purposes, the job sector is supporting the Oklahoma City real estate market.

As if a thriving job sector wasn’t enough, Oklahoma City has one additional indicator working in its favor: affordability. The monthly mortgage payment to income ratio is considerably less in the Oklahoma City housing market. Homeowners in the area can expect to use about 7.4 percent of their income on monthly mortgage payments, about half of the national average. The average homeowner in the United States allocates more than 15 percent of their income to mortgage payments.

With affordability higher than historical averages and a thriving job sector, Oklahoma City is expected to see an influx of younger buyers. The presence of Millennials alone may provide enough activity to help Oklahoma City lead in the recovery.

 

The Oklahoma City real estate investing industry should pay close attention to foreclosures in the area. In fact, RealtyTrac acknowledges approximately 670 properties that are in some stage of foreclosure. February actually saw foreclosure filings increase 69 percent from the beginning of the year. However, year-over-year, foreclosures are actually down 23 percent. Oklahoma City real estate investors should know that distressed properties are nearly half the price of non-distressed ones. The median sales price of a foreclosure home was $58,000, or $55,500 less than the average non-distressed property.

Most of the foreclosures in the Oklahoma City real estate market are of the auction variety. At 75 percent, the majority is going to be placed up for auction. Bank-owned foreclosures round out the rest, which are actually down about 30 percent from the previous year. Auction foreclosures, on the other hand, have only increased a modest 3.1 percent on the year.

There is certainly no lack of activity in the housing industry. There are about 1,487 homes for sale in the Oklahoma City housing market, compared to 5,797 that recently sold.

Oklahoma City real estate investors will want to consider the following neighborhoods, as Trulia has identified them as the most popular:

  • Quail Creek
  • Mesta Park
  • Central Park
  • Woodland Park
  • Downtown Oklahoma City

Of those neighborhoods that made the list, Quail Creek and Mesta Park received the most nods. However, outside of the most popular neighborhoods, Helm Farm deserves some consideration. In a one-week period, the average listing price in Helm Farm increased nearly 60 percent. This particular neighborhood may provide entrepreneurs with a prime Oklahoma City real estate investing opportunity.

The Oklahoma City real estate market has every right to be excited for the direction it is heading. While not quite on pace with the rest of the country, it has come a long way in the face of significant headwinds. Market indicators, including affordability and a booming job sector, should make it a great place to invest.

Oklahoma City Real Estate Market Summary:

  • Current Median Home Price: $152,900
  • 1-Year Appreciation Rate: 2.5%
  • Unemployment Rate: 3.6%
  • 1-Year Job Growth Rate: 3%
  • Population: 610,613
  • Median Household Income: $45,704

Oklahoma City Real Estate Market Q3 Update:

 

The Oklahoma City real estate market has come a long way since we last checked in on it, and Oklahoma City real estate investing couldn’t be in a better place because of it. The median home price for the area has increased, and is now sitting at approximately $156,300. While a far cry from the national average, it shows signs of strong improvement. What is even more impressive, however, is the city’s rate of appreciation. Homes in Oklahoma City have appreciated at a rate of seven percent in the last year. That is nearly a five percent increase from the beginning of this year.

Surprisingly, foreclosures have increased significantly, and are now at 1,551 units, according to RealtyTrac. Those interested in Oklahoma City real estate investing should take note, as these properties could come at an intriguing discount.

For the most part, the Oklahoma City real estate market has made strides to keep up with the recovery. While it has a long way to go till it is on pace with national averages, it is doing very well in its own right.

Oklahoma City County Map:

oklahoma city neighborhoods key realty and property management
Courtesy of Fortune Builders Inc.
*The information contained herein was pulled from third party sites. Although this information was found from sources believed to be reliable, FortuneBuilders Inc. makes no representations, warranties, or guarantees, either express or implied, as to whether the information presented is accurate, reliable, or current. Any reliance on this information is at your own risk. All information presented should be independently verified. FortuneBuilders Inc. assumes no liability for any damages whatsoever, including any direct, indirect, punitive, exemplary, incidental, special, or consequential damages arising out of or in any way connected with your use of the information presented.

Business is Booming

July 4, 2015 by kseabrooke Leave a Comment

Alaska Airlines Indicator Of OKC’s Soaring Business Climate

1
OKLAHOMA CITY – Alaska Airlines is now ready for takeoff from Will Rogers World Airport.  Employees with Alaska Airlines celebrated their inaugural flight out of Oklahoma City Wednesday afternoon.  The airport has been working on bringing the carrier in for about seven years.

“So it’s really great to see it finally happen,” said airport spokesperson Karen Carney.

The non-stop flight will fill a previously unserviced area of the Pacific Northwest, where the need is growing with the city’s soaring aerospace industry. That includes Boeing, who announced last year they are moving another 900 jobs to Oklahoma City.

“We’ve got certainly Boeing and that makes a connection with Seattle, but we’ve also got Tinker Air Force Base, we have Mike Monroney Aeronautical Center and we have all of those associated businesses with those areas,” said Carney.

7/1/15 Related Story: Alaska Airlines Flights Connect Oklahoma City, Seattle

In addition, the Airline will provide a link to Alaska and Canada, crucial stops for the energy sector that also helped put OKC on the airline’s radar.

“That whole business story we have been talking about in Oklahoma City for a long time, it really paid off in securing this new air service,” said Carney.

And early indications show there will be passengers on the planes.  The inaugural flight was completely full, and future flights don’t show a departure from that success.

“The early bookings have been great, I think it even surprised Alaska that it took off so well,” said Carney.

Right now, Alaska Airlines offers one flight a day seven days a week but hopes to add more flights in the near future.

The daily Seattle/Oklahoma City schedule is as follows:

Seattle to Oklahoma City

Departs – 10:30 a.m.

Arrives – 4:23 p.m.

Oklahoma City to Seattle

Departs – 5:05 p.m.

Arrives – 7:14 p.m.

The daily flights are open for sale through alaskaair.com, Alaska Airlines reservations at 1-800-252-7522 FREE or through travel agencies.

Thanks to Dana Hertneky, News 9

Best Place to Launch a Startup

May 27, 2015 by kseabrooke Leave a Comment

plaza district homes for sale key realty.jpgOklahoma City Realtor Karyn Seabrooke

 Best Place to Launch a Startup

  Access to funding, labor and the cost of living can make or break a new business. Based on a NerdWallet study, these 10 cities are the best in the country to launch a startup.

Oklahoma City Realtor Karyn Seabrooke

If you have entrepreneurial dreams, you’ll want to consider Oklahoma City. It nabbed the title of the best place to launch a small business last year, according to NerdWallet’s second annual ranking.

“Oklahoma City has seen a recent uptick in small business lending, which is helping to spur entrepreneurship there,” said Sreekar Jasthi, an analyst with NerdWallet, noting that it moved up from fifth place in 2012.

The small business loans are bolstered by a low cost of living and relatively low income tax.

“The ease of getting a business started here is another big sell,” said Susan Urbach, director of the University of Central Oklahoma Small Business Development Center. “You can file all the paperwork online or head downtown and get it all done in a single morning.”

The city’s revitalized downtown and several new business accelerators are helping Oklahoma City attract new startups, particularly in healthcare, biotech and technology.

Courtesy money.CNN.com

Looking for a House to buy or rent, Call Karyn Seabrooke with Key Realty and Property Management

Boathouse District Update

September 4, 2014 by idxcentral Leave a Comment

February 20, 2015 – MAPS 3 Program Manager David Todd provides a construction update on the Oklahoma River Improvements project. Jeffrey Gustin, senior project manager with whitewater consultant S2O Design discusses upcoming project milestones and describes the major engineering components of the facility.

Boathouse District

Devon Boathouse

North of Capitol Hill and due south of downtown Oklahoma City, the Boathouse District promises to be yet another major urban area for Oklahoma City made developable by the renovation of the Oklahoma River. The area north of the Oklahoma River is part of Oklahoma City’s Core to Shore redevelopment area has a master plan that shows public park and recreation space, residential neighborhoods, office parks, several “urban waterfronts” and river taxi docks along the waterfront. The recently completed Chesapeake Boathouse is a new Oklahoma City landmark on the Oklahoma River and a promising symbol for the Riverside District. The Oklahoma Boat House Foundation is the sponsoring organization for the US Olympic & Paralympic Training Site for both rowing and canoe/kayak.

The area south of the Oklahoma River contains several parks. This area of Oklahoma City is also home to the Mat Hoffman Action Sports Park of Oklahoma City located at 1700 S. Robinson. The Skate Park is a 26,000-square-foot (2,400 m2) mecca for skateboarders and other extreme sports enthusiasts. The park was designed by local extreme biking guru and national icon Mat Hoffman.

Source Wikipedia

 

1st Quarterly Market Report

June 1, 2012 by idxcentral Leave a Comment

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4415 N Classen Blvd, Oklahoma City OK 73118

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