Key Realty and property management
Karyn Seabrooke - Oklahoma Realtor®

Apartment Complex – Listed and Sold in a week!

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16 Unit Apartment Complex – Listed and Sold in a week!

Looking to Sell your Investment Property? 

Look no further than Karyn at Key Realty and Property Management.

Whether you are Buying or Selling Investment Property here in the Oklahoma City Metro, you can rely on Karyn and her Team for top guidance and professionalism throughout the transaction process. Karyn is a seasoned Investor herself having owned and managed hundreds of apartments and homes in the metro over the past 20+ years. 

Don’t delay, make the call today.

Karyn Seabrooke                                                                                                                                                                                                                            Key Realty and Property Management                                                                                                                                                                                        405-605-6445

 

 

 

Investor Alert! Strong Cash Flow – Hurry Hurry…Price $190K

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Investor Alert! Strong Cash Flow

Multifamily listing Wow 6 units… this won’t last at $190K. 

Two single family dwellings plus 4 garage apartments- 6 units total. This home is a 2 bed 1 bath 1 plus 2 garage apts in the back. The home next door is a 3 bed 2 bath 1 Car garage plus 2 garage apts in the back. Combined square footage for all units is 4941. Both homes have a shared drive way. Please see rent rolls and financials provided. This home has central heat and window units for a/c. All the garage apts have window units and gas wall heaters. The second home has central heat and air.

All units are rented. Homes and apts are easy to rent. This listing is being sold as-is.

Monthly Income $7,500 per month

 

 

 

Call 405-605-6445 for your showing.

 

Key Realty and Property Management

 

Thinking of Buying Investment Property?

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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   https://www.keyrealtyokc.com #propertymanagement #okcrentals #corporatehousing #investmentproperties Key Realty

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

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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

Awesome Rental Income Property For Sale NW OKC

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Awesome Rental Income Property For Sale NW OKC

Very Affordable Living at the Villa Manor Apartments on 35th Street.

Investment Property OKC Key Realty

Investment Property

This small complex is nestled in the Darralls Addition in Oklahoma City. Talk about location. Close to the Shepherd Shopping area, easy access to I-44 highway, shopping and great restaurants on May Avenue. Right on the bus line for those seeking a more green mode of transportation. These cute 1 bedroom 1 bath apartments are all electric and come with refrigerator and electric stoves, the bedrooms are nice sized with a spacious living and dining area. Roof replaced in 2012, concrete decks resurfaced 2013, new exterior windows 2016, most units have been remodeled on the interior.

List and Sell Your Home on MLS 4% Commission

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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

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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

Executive Home For Lease

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Brandywine Executive Home For Lease

6440 Brandywine Ln,
Oklahoma City, OK 73116
2 beds 3 baths 2,301 sq ft

Live beautifully in this elegantly understated home. With enduring and welcoming grace, this property offers a maintenance free lifestyle within its gated walls. Spacious rooms elevate your everyday, and give an overall feeling of calm. The tastefully remodeled kitchen, updated bathrooms, and classically modern paint colors and finishes make each room a delightful experience. The exterior of Jamestown is a nod to the unique beauty of New Orleans with its lovely Georgian style architecture. I invite you to come and visit, and experience this lovely home for yourself.
WHAT I LOVE ABOUT THE HOME

Wonderful location in the heart of NW Oklahoma City. Close to major highways, shopping, restaurants and Lake Hefner. Jamestown is a unique and beautiful community!

Baths: 2 full, 1 half
Condo
Built in 1975
Cooling: Central
Heating: Other
Parking: Carport, 1 space, 264 sqft

FEATURES
Cable Ready
Ceiling Fan
Double Pane/Storm Windows
Fireplace
Flooring: Carpet
Garden
Gated Entry
Intercom
Patio
View: Park
Wet Bar
ADDITIONAL FEATURES
Dumb Waiter
Lutron Lighting System
LED Under Counter Lighting
APPLIANCES INCLUDED
Dishwasher
ROOM TYPES
Breakfast nook
CONSTRUCTION
Exterior material: Brick
Roof type: Composition
Room count: 5
Stories: 3
Structure type: Georgian
Call Karyn at Key Realty and Property Management
405-605-6445

Renting vs Buying, OKC Real Estate Market

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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

 

Uncovering a Hidden Gem of American Cool

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Oklahoma City Documentary: Uncovering a Hidden Gem of American Cool

Seamus Payne of TheCoolist.com travels to Oklahoma City for an in-depth look at a city on the rise. “CITY RISING: OKC” explores the city’s unique storylines from startups to sport, culture to creativity.

Great place to start Investing in Income Properties.

Call Karyn for more info on this Great Hidden Gem – Oklahoma City.

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