
Originally Posted by
MidCenturyModOKC
Regarding the lots in SoSa - I believe you can still find some deals- $25,000 or less to me is a great deal for an infill lot. That is what builders in Edmond and Yukon and Moore are paying for those tiny lots in subdivisions with no trees, no view, and cookie cutter homes as far as the eye can see! At $25,000 per lot you could realistically build something in the $175-200,000 range and come out ahead.
I think you have a very valid point though. I would preface my previous comment with the LAST thing I would ever want to see is a standard set of floor plans thrown up in the beautiful diversified neighborhoods of NW OKC! I just do feel like there is a void in developer/builder interest in single family projects under the $200,000 mark. My background is in construction but because of the overwhelming bank issues of today's economy I took a corporate job in management - maybe they have all done the same.
I will say however that in order to make money you DO NOT have to build 500,000+ homes and you do not have to throw up 60 each year. There is a respectful way of building that really positively impacts the neighborhood your in and the customer who ends up purchasing the homes you have built with thought and care. I am not saying this doesn't exist in OKC - but I have not heard of too many builders who have that mindset.
Maybe I am wrong and they are all out of business. Maybe I am dumb in thinking that single family is the way that downtown/midtown/NW OKC should grow - I just feel like OKC is so spread out and there are still so many land options and vacant lots that when a buyer is coming to look at properties they are comparing these condo projects to getting yards for a lot less money - if they like that at all then they are going to lean the single family direction.
I will say that housing options of all kinds - condos, leased apartments, single family - in all price ranges under 200,000 - over 500,000 will be the only plan that offers truly long term growth for midtown and for downtown OKC. The housing has to be as diverse as the people who are considering making the move!
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