Reading this thread has opened my mind to a possibility I had never considered before... just buying an old building and making it into my own loft. Makes me wonder if I could round up some friends to go in with on something like that, each friend living on their own floor.

what should people expect in a condo at that price point? sq ft... amenities... finishes?

reasonably for a 150K can you expect more than a 900 sq ft 2/1 with basic finishes?

i agree the new construction options do a disservice in getting people to move downtown. but when i hear people complain on this board about prices, it seems they want to take the sq footage and price of a house in moore and get the same thing in a condo downtown.

I'm the original poster on this thread and I sure don't expect anything like you describe. I specifically stated a studio or small one bed condo. I even emphasized the word "small".

Rover, It depends on the cities, obviously. I knew Austin was high and I'm not surprised at the prices in the pacific northwest. I was comparing them to the developments in Kansas City. There are a lot of "starter condos" that are very small but certainly livable with many amenities close by for 100 Grand. In OKC, where we would prefer to be, there's next to nothing to be found and certainly not any buildings where the whole place is built on that concept.

ECO made reference along the lines of if OKC doesn't have what another city has then why don't we just move to the other city? There are family considerations and longtime ties to Oklahoma City. Just because our city isn't perfect doesn't mean I'm going to up and leave without serious consideration. I thought that was a pretty flip comment. We're not "city shopping." I'm basically comparison shopping and asked a legitimate question about downtown Oklahoma City housing options compared to another city in our region.

There's been some very good discussion in this thread with a lot to think about, some posts have presented some truly innovative ideas.

I am in Bellevue, WA (developed suburb of Seattle) tonight on business, so I checked on prices downtown Bellevue. You would be hard pressed to find a downtown condo for under $500-600/ft. I am familiar with several of the condo projects in Austin as I am in the commercial construction business and I can tell you OKC downtown is still fair compared to Austin. Sometimes I think we in OKC are totally out of touch as to what prices really are in most of the US. Why do we always want it for free? And why do you expect a businessman to open a business if you won't go regularly and pay fair prices? Why do you expect them to lose money so the city can develop the way YOU want it.

This is precisely what I was thinking tonight. You can buy at Maywood Park Lofts for $127,000. What major city has housing within a block of the CBD for a price like that? Even the "higher end" housing in the area is reasonable when you look at the square footage and allowances for the space. If people want to spend less than for close in housing, they do need to look at places like SOSA that they can renew themselves, not expect somone to offer new construction at cost.

The Leslie is a plan with the price points being discussed here, but again, I'm not surprised the developer wants to see a significant percentage of purchasers put down a deposit before construction is started. If enough people are truly interested in this type of price, and it can be built in a manner to offer the builder a reasonable profit, then condos in this price range will be built.

Reading this thread has opened my mind to a possibility I had never considered before... just buying an old building and making it into my own loft. Makes me wonder if I could round up some friends to go in with on something like that, each friend living on their own floor.

I know a talented designer that would be happy to assist you....

Dismayed, I would like to invite you to join the other frustrated downtown home shoppers in calling or emailing me. I need all of your help in bringing this disconnect to public light.

I think lower price points would attract investors as well.

I've looked into buying, renovating and renting properties in/near downtown but I don't want to mess with an old property, especially as an out of state owner. I'd love to find a newer, basic unit that I could rent out and perhaps live in part-time later in life.

I looked hard at a couple of properties at Sycamore Square, but my concern was the stigma of that property -- and the fact the southern complex is all apartments -- would not make for a worthwhile investment.

I believe most people see OKC as an up-and-coming town and would like to participate in the upside, but that's very hard to do at these higher prices, not to mention a huge risk for an investor.

Why do you expect them to lose money so the city can develop the way YOU want it.

News Flash: they're already losing money because they're not producing the product the market demands, which is entry to mid-level housing for young professionals.

They can build whatever they want and lose money. It's their money (or their banks' and investors' money).

The point is that these folks could develop a product that meets the actual market demand and still makes money. They just choose to continue to pursue this dumb strategy of targeting suburbanites and "empty nesters," which you seem to defend.

Seattle, Washington is hardly comparable to the rest of the country when it comes to housing costs. They're frankly way out of whack. They are ridiculously high, as my Seattle-native coworker attests. And not just downtown. It's extremely expensive to buy anything near Seattle, even in the suburbs. Not a fair comparison.

Remember, we live in Oklahoma City, where the median home price is $120,000, not $400,000.

Some of the high-end condos here in Austin have gone on the auction block recently. In many cases they had deposits on them but when they were completed the people couldn't get financing for them after the credit crisis hit, others just hadn't sold yet.

KVUE - Condos hit the auction block (http://www.kvue.com/news/top/stories/051709kvuecondos-bkm.1338b260.html)

This was in the Austin Business Journal just today about a near downtown condo development going up for auction: Sage Condos set for auction block (http://www.bizjournals.com/austin/stories/2009/07/27/daily25.html)

The credit crisis for development has hit these markets that were relatively stable hard, otherwise projects like The Leslie may have gone through. Right now the requirements to get financing for a development (residential or commercial) are much higher than they were two years ago. For that you can than California, Washington, Florida, Las Vegas and Phoenix for their overvalued homes and associated loans. Soonerguru is right, you can't compare per SF prices in those overvalued markets to the markets here, the economic dynamics are completely different along with the pay scales. It's all about perception, Austin is considered "expensive" by Texas standards but compare it to California (where a good number of the downtown condos buyers have originated) and they think Austin is a bargain.

Face it, downtown living options are in competition with existing and new offerings outside of downtown and most who want to live downtown realize that they are not going to get near the SF that they would buying in the burbs but to ask them to pay double or more the amount for less SF is a hard sell to all but the die hard downtowner. There needs to be options for the middle and high end buyers, unfortunately the credit crisis hit as that was starting to germinate in OKC.

Steve I sent you a lengthy email yesterday - let me know if you recieved it or not so I can send it from another account because my gmail has been acting funky lately

I'm the original poster on this thread and I sure don't expect anything like you describe. I specifically stated a studio or small one bed condo. I even emphasized the word "small".

Rover, It depends on the cities, obviously. I knew Austin was high and I'm not surprised at the prices in the pacific northwest. I was comparing them to the developments in Kansas City. There are a lot of "starter condos" that are very small but certainly livable with many amenities close by for 100 Grand. In OKC, where we would prefer to be, there's next to nothing to be found and certainly not any buildings where the whole place is built on that concept.

ECO made reference along the lines of if OKC doesn't have what another city has then why don't we just move to the other city? There are family considerations and longtime ties to Oklahoma City. Just because our city isn't perfect doesn't mean I'm going to up and leave without serious consideration. I thought that was a pretty flip comment. We're not "city shopping." I'm basically comparison shopping and asked a legitimate question about downtown Oklahoma City housing options compared to another city in our region.

There's been some very good discussion in this thread with a lot to think about, some posts have presented some truly innovative ideas.

MikeOKC, I can guarantee you that the market will eventually determine the correct pricing for downtown condos. If a developer wants to sell a condo for $250,000, that's what the market will bear, meaning no one will buy it until the developer has no choice but to bring down the price.

This is precisely what I was thinking tonight. You can buy at Maywood Park Lofts for $127,000. What major city has housing within a block of the CBD for a price like that?

You can't compare it to other cities; you need to compare it to our housing alternatives here in town.

I'm just saying, when I bought my house, I got more than twice as much sqft space (not counting the driveway/yard) for about $30k less than Maywood's cheapest option, and I'm barely 5 miles from downtown. You're going to have trouble competing with that with our current downtown options.

You can't compare it to other cities; you need to compare it to our housing alternatives here in town.

I'm just saying, when I bought my house, I got more than twice as much sqft space (not counting the driveway/yard) for about $30k less than Maywood's cheapest option, and I'm barely 5 miles from downtown. You're going to have trouble competing with that with our current downtown options.

But, in Oklahoma City and suburbs you have great disparity between costs of houses per square foot even outside of downtown. That's due to a variety of factors, some of which include quality of construction or finishing details, as well as location. A stick built house, built of 2 x 4s with low cost roofing may also have inexpensive carpet, tile, appliances, countertops, etc. You cannot compare that house to one built with 2 x 6s (which is or used to be code in Nichols Hills) that has an expensive roof, higher cost carpet,tile and/or marble, granite countertops, expensive appliances and woodwork. In developments like the Maywood Brownstones or Central Avenue Villas the homes were built with an buildblock, an expensive, but energy saving option. People look at price per square foot, but there's a lot that factors into that price, and frequently they're comparing apples and oranges.

I don't think living downtown because it's cheap, rather than because a person wants to live downtown, is going to be a frequent option in a place like Oklahoma City where land is cheap and plentiful. And really, nowadays, most downtowns do not have the cheapest price per square foot in bigger cities. It's more a lifestyle choice than a financial choice, IMO.

I'm looking to buy a house sometime next year. I'll probably be able to afford somewhere in the $150K range. I'd like to live downtown (not SOSA, not some rundown place in Mesta Park, actual downtown).

Here's the problem. For that price I can get a 900 sq ft place at the unbuilt Leslie. That's it. Or I can go a few miles from downtown and get a much larger place. I'm not a diehard downtowner. Downtown has to offer realistic housing options. I went to law school in Washington DC, and lived downtown there for three years. I'm absolutely NOT going to pay the same price in OKC that I paid to live in DC. I knew people who were buying in DC who were paying prices not too much higher than the downtown living options we have now. It's insane.

The problem is, there are only a small percentage of people who can afford to buy downtown at all. Most of those don't want to live downtown when they can get much larger places elsewhere. They need to make downtown affordable for those of us who would consider purchasing here. A development of for sale housing between $100K and $200K would attract a lot of young professionals. That will increase the population downtown and begin to bring in density. We'd then be able to support more retail in this area.

But none of it will happen if we don't get more than a handful of people here.

But, in Oklahoma City and suburbs you have great disparity between costs of houses per square foot even outside of downtown. That's due to a variety of factors, some of which include quality of construction or finishing details, as well as location. A stick built house, built of 2 x 4s with low cost roofing may also have inexpensive carpet, tile, appliances, countertops, etc. You cannot compare that house to one built with 2 x 6s (which is or used to be code in Nichols Hills) that has an expensive roof, higher cost carpet,tile and/or marble, granite countertops, expensive appliances and woodwork. In developments like the Maywood Brownstones or Central Avenue Villas the homes were built with an buildblock, an expensive, but energy saving option. People look at price per square foot, but there's a lot that factors into that price, and frequently they're comparing apples and oranges.

I don't think living downtown because it's cheap, rather than because a person wants to live downtown, is going to be a frequent option in a place like Oklahoma City where land is cheap and plentiful. And really, nowadays, most downtowns do not have the cheapest price per square foot in bigger cities. It's more a lifestyle choice than a financial choice, IMO.

These are all excellent points. I think all anyone is suggesting is that there is a larger, untapped market that is somewhat sensitive to price that has not been an initial focus of the developments.

There is simply too much of a discrepancy between the price of these downtown condos and the rest of the market.

OKC has some of the most affordable housing in the country and these units are not being marketed in a vacuum.

As much as someone may want to live downtown, common sense dictates these prices are out of whack. Any initial pent-up demand has long been exhausted.

Frankly, if I was looking to buy, I'd merely opt for a nicer place in Mesta Park / Heritage Hills instead of a $300K condo in one of these developments. And just doing a quick search, I see lots of great options in those neighborhoods.

When you can buy a 3,000 square foot completely remodeled house like this for about $300K in the same general area, I just don't see how the units in that price range have much of a chance:

http://p.rdcpix.com/v02/l1922f141-m0x.jpg

http://p.rdcpix.com/v01/l1922f141-m5x.jpg

I don't know if we can say that pent up demand is exhausted. I think there are a variety of factors, predominantly the economy, affecting housing purchases of any kind. The market in that price range has slowed incredibly, and loans are more difficult to obtain, especially if you need a jumbo.

Personally, although I'm biased, I prefer living closer to Bricktown, so that I can walk everywhere. If I were to live in Mesta Park, I'd still be driving many of the places I like to go. I'm willing to pay extra for that ability. Also, houses in Mesta Park are older, with some of the upkeep issues of older homPeople in Nichols Hills pay a lot more to live there. Try and find a tear down there for under $100,000.00 It's the location, not the price per square foot that makes people want to live there. Location almost always has an effect on price.

There may well be demand for less expensive downtown housing, but I really think it's going to be difficult to get developers to bite unless they can presell enough of the units to ensure they'll break even or make a small profit in this buyers market we have right now. I noticed very few of the Leslie units have been presold, and that's the cheapest housing potentially available downtown right now. Perhaps people should contact known downtown developers and talk to them about cheaper housing, to see if they think it's commercially feasible. But otherwise, I don't know how you get someone to take that kind of risk in this market.

I think there are a variety of factors, predominantly the economy, affecting housing purchases of any kind. The market in that price range has slowed incredibly, and loans are more difficult to obtain, especially if you need a jumbo.

All the more reason to not build expensive units.

There are still over 1,000 homes being sold in OKC every month, even with the current financial downturn.

Even in the best of times -- where loans were cheap and easy -- the average sales price per square foot never got above $80; most the downtown condos are going for triple that amount. If these places were in high-rises with great amenities and incredible views, that would make a bit more sense.


And many of these projects were on the market long before the mortgage companies tightened up.

I don't understand why some group here in the city doesn't build an apartment high rise 40-50 stories tall downtown. If they didn't get crazy with rent prices I bet they would stay full. Look at the Regency Towers for example. That one is only 20-25 stories and has been around for years and never has many open units. I could see several highrise apartments making downtown living in OKC a very nice option. If I had the clout to make it happen I would. I don't think a person could lose doing a project like this. They would also need to build a parking garage in to the building or next to it with cat walks to the main building. IMO this is one of the main things downtown is lacking.

The Monarch (http://www.monarchaustin.com/) is the 30-story rental tower that was recently built here in Downtown Austin. The AMLI Downtown (https://www.amli.com/apartments/austin/downtown/) is the one built a couple of years before the towers started, it is 7 floors (ground floor retail, 6 floors apartments) tall.

The Regency has stayed well-occupied even in the lean years of the late 80's and early 90's. And it was never that nice... Just really the only such option for a long time.

It seems all the decent rental units in and around downtown have pretty darn high occupancy rates: The Montgomery, The Park Harvey, Deep Deuce, Sycamore Square, etc. They are also charging pretty strong rents.

The rental market is extremely strong downtown.

The rental market in downtown is strong so again,why no new high rise apartments? This would seem like a no lose situation for someone with the clout to get it done.

Build it and everything else will come.

OKCRT - I really can't argue with you on this one. Financing, of course, is tough on pretty much everything right now. Bankers are running scared and aren't using a lot of common sense right now when it comes to extending credit for anything, regardless of low risk, according to various sources I've heard from.

I just toured Maywood Lofts today and, even though they're not completely finished, I really don't think the listed prices are justified. They are way too high and the designs are not that impressive. There are a few designs that I liked, but many of the 2 bedrooms are terrible and inconvenient. Most of the views stare (or will stare) directly into brick walls or an ugly pre-fab building.

Now, that's just my uneducated opinion (I know very little about condos and real estate pricing), so take what I say with a grain of salt. I spoke to a developer friend of mine who said the prices are outrageous for the market and what you get. But I want to be sure, so I'm going to take my architect uncle to see what he thinks about them.

According to my guide, they aren't selling well at all, so I'm sure they're going to have to come down in price soon. By the way, the price doesn't include the monthly HOA dues of around $140 a month, which is just another added expense. She also said she doubts the next round of Brownstones will not be built and will be replaced with another design. Interesting.

According to my guide, they aren't selling well at all, so I'm sure they're going to have to come down in price soon. By the way, the price doesn't include the monthly HOA dues of around $140 a month, which is just another added expense. She also said she doubts the next round of Brownstones will not be built and will be replaced with another design. Interesting.

Important correction: the real estate guide doubts the next round of Brownstones will be built. (Not: she doubts the will not be).

I know they're closing soon on 15 units at the Lofts. Don't know if that constitutes not selling well at all.

As far as the Brownstones go, I suspect all plans will be based on their determination of demand. A lot of that is based on both what happens with the economy and people's perceptions of the desirability of living downtown, as well as what is available to purchase and at what price. The next few years will be more telling, as there are probably enough people now living in the area to ease the fears of those who didn't want to be the only people living in a development.

King183, based on talks with Ron Bradshaw, etc., I think that doubt is pretty well placed. But they are very determined to keep moving forward and create a real mixed use community.

But they are very determined to keep moving forward and create a real mixed use community.

Which is really the only way the current prices can be justified. It's becoming obvious that they have to build the community before they can ask for the top end of the housing market. If they want to get the same price per square foot as some of the best houses in the historic districts, they better offer something extra those neighborhoods can not.

People will pay a premium for a true urban living option in Oklahoma City, but it's too much of a risk right now to pay that premium, especially if the city spreads the urban landscape out even more with core to shore before the housing in the emerging districts take hold.

I also think not finishing the brownstones will hurt the original project. It's a nice concept, but I think not finishing more of them in the first phase and then charging top tier prices really hurt it. Not only are they asking you to pay a premium on a neighborhood that may or may not come to fruition, they're asking you to pay a premium on a development that might not get finished either. That puts a strong downward pressure on the close to $230/sq ft price at which they started.

Poking around I found this 3BD 2BA completely remodeled house with a fenced yard and attached garage for under $175K.

It's just south of Saint Anthony's... I can't imagine another city the size of OKC that offers such great housing at these prices.

619 Nw 7Th, Oklahoma City, OK, 73102 - MLS ID#394156 - Single Family Home real estate - REALTOR.com® (http://www.realtor.com/realestateandhomes-detail/619-Nw-7Th_Oklahoma-City_OK_73102_1109769350?mp=1)

http://p.rdcpix.com/v01/l86bc2542-m0m.jpg

http://p.rdcpix.com/v01/l86bc2542-m1m.jpg

http://p.rdcpix.com/v01/l86bc2542-m2m.jpg

Pete, that house was recently taken off market and rented. My wife and I seriously considered buying it when it was for sale.

Metro, why didn't you buy it?

And why do you think it didn't sell?

Going to live well below our means awhile longer. We're on a plan to become debt-free and bumping up a notch while still in debt doesn't help us reach that goal. I don't know it was on the market for quite some time actually, quite surprised myself. It had some oddities about the house though, and the area is still a little sketchy although I've never had any major problems while living in the neighborhood 4 years now. I think people saw for that much money, they could get a condo in Deep Deuce or elsewhere downtown that was newer and within closer walking distance to more amenities. Just my guess. Downtown is fickle.

Steve,

No offense, but the original poster refers to them in his thread, and he clearly hates them, saying they look out of place, are "way over on Classen," and look like a New Mexico ski condo.

The motif is actually called California Contemporary. It permeates residential structures built out west, in the 70s and 80s.. and never quite made it this far east. I actually kind of like it. You can't just scoff at every urban design that is tried, saying "Oh this looks too much like a Philly brownstone," or "This looks too much like a New Mexico ski condo," or "This looks too much like an Austin loft building."

Too bad nobody outside of Oklahoma is going to say, "Oh this looks too much like a Deep Deuce brick loft." Unless downtown development goes on steroids..

It's SOSA/Midtown. Imo it's priced way too high for right where it is(varies greatly block-to-block) - small house and still pretty sketch area. You could get a 1500 sq. ft house in Mesta Park for less or the same sized fixer upper in J-Park for around $50k.



Poking around I found this 3BD 2BA completely remodeled house with a fenced yard and attached garage for under $175K.

It's just south of Saint Anthony's... I can't imagine another city the size of OKC that offers such great housing at these prices.

619 Nw 7Th, Oklahoma City, OK, 73102 - MLS ID#394156 - Single Family Home real estate - REALTOR.com® (http://www.realtor.com/realestateandhomes-detail/619-Nw-7Th_Oklahoma-City_OK_73102_1109769350?mp=1)

This no doubt is reflective of how others in the market feel, which underscores many previous posts about the downtown condos being overpriced.

If a remodeled single family home within walking distance of the CBD is overprices at $175K, it's no wonder that smaller condos for much more are not selling.

Well when you're in a metro where you can still easily get 3,000 sf for less than $200,000 .. and $100,000 buys you almost 2,000 sf .. of course these tiny $300k condos are most selling lifestyle and not anything else. The problem isn't that there aren't enough people who want an urban lifestyle in OKC and are willing to pay more for it. The problem is that there isn't an urban lifestyle in OKC. But we're working on it.

How laughable is it when people are paying premiums for these condos so that they can get in on this romanticized vision of urban living when the undeveloped lot next to them is a mud pit that isn't about to be broken ground any time soon due to whatever external factors. The pioneers who are getting in on the action early should be commended, but surely they can't wait to see their neighborhood, or even just their block, built out. When there are all these construction hassles constantly and more undeveloped lots within eye shot than there is new development, that doesn't quite meet up to the expectations of some for sophisticated, chic urban living.

Right now we look at downtown like it's the pet project of a former mayor, instead of as a viable, growing community. Why can't downtown be growing as fast as Edmond or Moore? If it weren't for this recession, and had all the projects lined up at one point started to move forward, downtown would be adding as many new residents as Edmond or Moore.

The recession is making it harder than it would have been to achieve a critical mass of downtown housing (although the tract housing market is doing fine), so the City needs to step in and incentivize development. Stop dragging its feet on putting in real transit, and with the addition of a streetcar system (even if there is no other MAPS 3 item) will really spur a critical mass so that we could just get the growing pains over right now and actually have a critical mass. Then the ball will really be rolling. Good neighborhoods don't need to develop slowly over time, they need to develop altogether, cohesively.

If a remodeled single family home within walking distance of the CBD is overprices at $175K, it's no wonder that smaller condos for much more are not selling.

Actually, I was told it was a new home, built in 2005...

The house doesn't have a garage, which I would want so I could park my car while I walk to work. One of the bigger crimes in the area is burglary, nothing violent, so you'd want a place to keep your vehicles.

I bought my relatively renovated home (with garage) in Mesta Park in late 2005 for $124,000. When I feel like it, I can walk to work - only 25 minutes. I'd love to be even closer, so it took me 5-10 minutes to get to work, but the prices, even if I went up to $200,000, just aren't there yet.

How laughable is it when people are paying premiums for these condos so that they can get in on this romanticized vision of urban living when the undeveloped lot next to them is a mud pit that isn't about to be broken ground any time soon due to whatever external factors. The pioneers who are getting in on the action early should be commended, but surely they can't wait to see their neighborhood, or even just their block, built out. When there are all these construction hassles constantly and more undeveloped lots within eye shot than there is new development, that doesn't quite meet up to the expectations of some for sophisticated, chic urban living.


That's a good point...and makes a development like the Centennial in Bricktown seem like a way better option than a lot of them just east of the CBD.

wsucougz, show me something in Jefferson Park for $50,000 please........

Spartan, what part of town does such a self proclaimed urban expert live?

Did any of the downtown housing units that have been constructed/rehabed recently utilize any sort of public funding, or were they all privately funded? The reason I ask, is because it looks like if they were publically funded in some way that there could be a stipulation that at least 10% of the units could be affordable (available for less than market rate) for at least the first renter/owner, assuming they meet certain income requirements. That would serve to make living downtown more affordable as well as making it more diverse. Just my 2 cents.

Well when you're in a metro where you can still easily get 3,000 sf for less than $200,000 .. and $100,000 buys you almost 2,000 sf .. of course these tiny $300k condos are most selling lifestyle and not anything else. The problem isn't that there aren't enough people who want an urban lifestyle in OKC and are willing to pay more for it. The problem is that there isn't an urban lifestyle in OKC. But we're working on it.

Bingo.

The house doesn't have a garage, which I would want so I could park my car while I walk to work. One of the bigger crimes in the area is burglary, nothing violent, so you'd want a place to keep your vehicles.

There is a garage at that house, it's just in the back accessible via an alleyway.


And I actually think there are plenty of people willing to pay a bit of a premium for the limited (but growing) urban lifestyle offered by downtown OKC, they just aren't willing to spend $300K and what amounts to 3 or 4 times the $ per square foot amount of homes just a mile or two away.

Pete, I don't think so, we looked at the house several times and there was only a driveway in the back yard (with no gate BTW). The Realtor had mentioned there was no garage with the sale as well. Another turnoff.

I see a garage (http://www.bing.com/maps/default.aspx?v=2&FORM=LMLTCP&cp=pxcb386w5r19&style=b&lvl=2&tilt=-90&dir=0&alt=-1000&phx=0&phy=0&phscl=1&scene=11141159&encType=1).

There IS a garage and a gate from the back alley:

http://photos.listhub.net/OCMAROK/394156/10

Decent skyline view from the front porch as well:

http://photos.listhub.net/OCMAROK/394156/12

wsucougz, show me something in Jefferson Park for $50,000 please........

Spartan, what part of town does such a self proclaimed urban expert live?

??

That house in the foreground used to have farm animals in the fenced area. It was truly a bizarre sight to see in such an urban area.

I can't imagine that area is zoned for farm animals... Maybe someone finally complained.

It's pretty clear the city isn't very proactive in enforcing lots of the municipal codes.


BTW, I spoke to the realtor about that house on 7th street and he said it is rented but the owner is still interested in selling it.

I can't imagine that area is zoned for farm animals... Maybe someone finally complained.

It's pretty clear the city isn't very proactive in enforcing lots of the municipal codes.


BTW, I spoke to the realtor about that house on 7th street and he said it is rented but the owner is still interested in selling it.

Urban Pioneer can attest to the farm animals. We drove around "SOSA" a few years ago before it had any gentrifying cachet.

I hope I'm not crazy, but if memory serves they had a horse or a donkey in that fenced-in area.

wsucougz, show me something in Jefferson Park for $50,000 please........


There isn't anything right now but in the past 12 months alone I've seen a couple of livable fixer-uppers in the $50k range and 2 bank-owned duplex's in the $40k's.

example:

Leonard Sullivan Oklahoma County Assessor Real Property Detail Sheet (http://www.oklahomacounty.org/assessor/Searches/AN-R.asp?ACCOUNTNO=R046606500)

6 months or so ago there was a bank-owned house that went for $36k in Mesta Park with good bones needing about $10k in renovations. Someone did just that and it looks pretty sharp:

Leonard Sullivan Oklahoma County Assessor Real Property Detail Sheet (http://www.oklahomacounty.org/assessor/Searches/AN-R.asp?ACCOUNTNO=R045003069)

There aren't a lot, but they still do come down the pike every once in a while. When they do, they don't tend to last long.

Looks like these are bank repo's though, and that's just the County Assessor which is almost always wayyyy under actual market value. Are they actually FOR SALE for that price to the public though? I'm guessing these are probably in the crappier, older part of J-Park that borders Paseo, and not in the nicer parts of J-Park. There is no way you can touch anything nice and move in ready in J-Park for under $150K. Many have appreciated to well over $200K now.

Looks like these are bank repo's though, and that's just the County Assessor which is almost always wayyyy under actual market value. Are they actually FOR SALE for that price to the public though? I'm guessing these are probably in the crappier, older part of J-Park that borders Paseo, and not in the nicer parts of J-Park. There is no way you can touch anything nice and move in ready in J-Park for under $150K. Many have appreciated to well over $200K now.

Wait.. are we talking about the same Jefferson Park? You know, north of 23rd? Not to be confused with south of 23rd.. Dat no J-Park, dat M-Park..

here (http://realestate.yahoo.com/Oklahoma/Oklahoma_City/117-nw-24th-st:16d8625bcc5564be2ddda2d23e467e7) is a house in jefferson park that's 33K.

Looks like these are bank repo's though, and that's just the County Assessor which is almost always wayyyy under actual market value. Are they actually FOR SALE for that price to the public though? I'm guessing these are probably in the crappier, older part of J-Park that borders Paseo, and not in the nicer parts of J-Park. There is no way you can touch anything nice and move in ready in J-Park for under $150K. Many have appreciated to well over $200K now.

If you look at those county assessor links, you will see the sales records. I'm not talking about the assessed valuations.

Those listings are bank owned and hit the MLS just like any other listing. For sale to the public and would have appeared in any realtor's search.

You obviously don't know much about this neighborhood. Beside the JPNA neighborhood association new construction, there is very little that is nice and move-in ready. I'm telling you that it's realistic that you could get a house for $50k that needs 25-30k in work in order to be a really nice house. Many have appreciated to well over $200k? Try maybe 3 of them and they're all large multi-family conversions - and I could tell you exactly where they're at.

I like how you ask for something when you are obviously just getting ready to tell me the answer. Investment property in J-park, Mesta, and other neighborhoods is what I do(when I'm not at my day job).

^ the link okyeah posted,

That would actually be a very nice starter home in a decent neighborhood if someone would just do something with the front facade. The porch awning looks terrible, peeling paint, probably structural issues.. but if you put 10k into it I'm sure it would be fine, and the interior looked surprisingly nice for such a cheapo house.

The land alone is probably worth more than that.

A lot of the new period-style homes they have built in the Jefferson Park area were done so using federal grants for low/medium-income housing. If the buyer or renter is beneath a certain income benchmark and passes a background check, there are HUD loans available for redevelopers. That's why there are some really amazing bargains in the J Park area.

Those historic apartments (recently renovated) off Robinson between 23rd and Goodholm Park are a great bargain, and on Walker and also 25th there are some new homes that I think went on the market for just $70,000. Those homes are obviously worth a lot more than $70,000, but it does a LOT of good for the neighborhood to have nice clean homes built in the same period-style that decent people move into and take care of.

It's pretty clear the city isn't very proactive in enforcing lots of the municipal codes.

Being proactive would require higher taxes to pay for more inspectors... the City has to rely on complaints for many areas because of the massive area of the City and the little funding available.

In Lawton the city council members have begun to drive around and list blatant city code violations themselves. That's one way for a city to get proactive and crack down on eyesores..

Also if I'm not mistaken there is an enforcement hotline that anyone can call to report these sites.

Looks like these are bank repo's though, and that's just the County Assessor which is almost always wayyyy under actual market value.

Actually Oklahoma County does very good job with their market value assessments. Not always, but they are generally in the ballpark.

I wrote a letter to the newspaper expressing some of my annoyances with the current downtown perception.. who knows if they'll run it, especially since I did go over 250 words by like 2 sentences. It's hard to convey a meaningful thought in 250 words, but oh well. Here it be:

A Downtown ontheRange: Letter to the Daily Oklahoman (http://downtownontherange.blogspot.com/2009/08/letter-to-oklahoman.html)