Oklahoma comes from the Choctaw Indian phrase okla humma, or Red People. Choctaw Chief Allen Wright suggested the name in 1866, when Oklahoma was Indian Territory, and the tribes envisioned an all Indian State of the United States. That changed in 1889, when the famous Run of Oklahoma transformed the land into Oklahoma Territory, where citizens come come for a free 160 acres of land. In 1907, Oklahoma was declared the 46th State in the Union with it’s Capitol in Oklahoma City. Our state still reflects the hard work and daring that those first settlers brought, and today we are a proud state that leads the nation in the appreciation and stability of our housing market. Let me introduce you to some facts about our state.
Oklahoma City is the largest city in Oklahoma, and it’s State Capitol. The city ranks 31st in population in the U.S. but when you add in the suburbs and feeder cities, it population goes upwards to 1.25 million people. It is the 7th largest city by land area, and extends into 4 Oklahoma Counties. Oklahoma City’s downtown is crossed by two major interstates, I-35 and I-40 which cross at the SE corner of downtown. Oklahoma City is home to two of the largest independent energy companies in the world in Devon and Chesapeake, and is also home to next to the State Capitol complex, the second largest employer in Oklahoma, Tinker Air Force Base, one of the largest in the world. Other major employers are Dell Computers, The FAA, AT&T, UPS, and Cox Communications. Between 2001 and 2005, Oklahoma City’s economy grew by 33%, and currently possesses one of the lowest unemployment rates in the country. More >>>
Investing in Oklahoma City real estate can be profitable but there are a few basics that everyone needs to analyze and I always go over this with my investors before they do a contract. So here a few basics that I believe are always true when investing in Oklahoma City real estate or buying investment property anywhere. Make your money on the buy: Too often investors concentrate on the end game thinking that appreciation will carry them to wealth but that is not where it starts, in fact appreciation should always be considered the bonus to investing. You make your money by buying the right house in the right location of course, but how about starting off with equity? When I … Continue reading →
Posted By: Joe Pryor
10:13 PM
Sunday, March 31, 2013
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When a lender wants Oklahoma City real estate valuations on a portfolio of loans or if it is a short sale or foreclosure, often they ask a licensed REALTOR to give them an estimate of value and usually in a 48 hour period. For this the company handling the details for the lender pays the agent a small sum of money to find three active listings and three sold com parables with adjustments made for condition, year built, number of rooms and garage size among others. Sometimes the lender wants also an interior valuation which is a more complex and detailed price so why would a busy and successful real estate agent want to do this when their time is … Continue reading →
Posted By: Joe Pryor
11:01 PM
Sunday, March 17, 2013
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Posted By: Joe Pryor
8:08 PM
Monday, March 11, 2013
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In the last blog post about Oklahoma City real estate investment I talked about market fundamentals and why in this housing recovery investors are shifting from the distressed market areas to the solid and predictable markets like Oklahoma City. Today i want to talk more about our city to give you the reasons for you to follow this trend because of the fundamentals of our economy. Linear investment markets: There are three types of markets, cyclical markets like Florida, hybrid markets like Arizona, and linear like Oklahoma. The first historically has ups and down movements, the second can have stability then wild swings, and the third stays mostly constant within a range. Oklahoma City is this and it reduces the … Continue reading →
Posted By: Joe Pryor
10:56 PM
Saturday, February 23, 2013
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Why would real estate investors be flocking to cities like Oklahoma City? When the housing industry collapsed in late 2007, by 2008 some values in areas like Florida and Nevada had dropped 80% overnight, the smart cash money started to buy up what they could find once the properties got through the foreclosure mill, and the foreclosures just kept coming. Oklahoma City in contrast had a market correction of around 5% and up to 10% in lower priced areas, so it was understandable why we were off the map for investors looking at deals. Now things have changed and here are the reasons why. The Mini Bubble Forming: Investors have been driving the housing recovery so far. Home ownership for personal … Continue reading →
Posted By: Joe Pryor
10:13 PM
Wednesday, February 20, 2013
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