OKC Real Estate Market

[shartel_ave]

I own a duplex outright in the Paseo, wonder how much it is worth now?

[Bill Robertson]

I own a duplex outright in the Paseo, wonder how much it is worth now?

If there are any duplexes remotely like it in the area that have sold recently you can look them up on realtor.com or zillow.com. Even if anything not like yours has sold you can get a feel for what the area is selling for per sq ft.

[shartel_ave]

If there are any duplexes remotely like it in the area that have sold recently you can look them up on realtor.com or zillow.com. Even if anything not like yours has sold you can get a feel for what the area is selling for per sq ft.

thanks man, yeah lots of duplexes in that area. I'm not selling but I am constantly renovating and rent the other side so it's a net positive.

[OKCRealtor]

Things are still pretty much the same as they have been. Very low inventory still and way more buyers than sellers. The interest rates are starting to tighten things up just a bit but they're really just eliminating the weaker buyers from the pool who didn't have a good shot at getting something in this market anyways. That being said affordability is certainly becoming an issue for a lot of folks and they're either going to have remain in their current homes for longer periods of time or continue to rent.

[securityinfo]

I have had several realtors tell me anecdotally that there is a large pool of buyers from outside of the state, or just people new to the state. Has this been your experience?

[shartel_ave]

Things are still pretty much the same as they have been. Very low inventory still and way more buyers than sellers. The interest rates are starting to tighten things up just a bit but they're really just eliminating the weaker buyers from the pool who didn't have a good shot at getting something in this market anyways. That being said affordability is certainly becoming an issue for a lot of folks and they're either going to have remain in their current homes for longer periods of time or continue to rent.

that is a bummer especially for renters as rent is getting stupid high. I have never raised the rent on my tenant and rent it a couple hundred below the average for a one bed one bath in the paseo and that includes washer and dryer, internet, and water.

My tenant said she plans on staying as long as I let her and I'm fine with that she pays on time everytime so much so I forget rent is due until she reminds me.

[OKCRealtor]

I have had several realtors tell me anecdotally that there is a large pool of buyers from outside of the state, or just people new to the state. Has this been your experience?

Yes, I've helped a lot of people relocate in the last couple years and that doesn't appear to be slowing down anytime soon. Big reason there are more cash sales than before.

[jn1780]

I get 1 to 2 calls each week with someone asking to buy my house. Or I get a flyer in the mail asking. Starting to get annoying. Its only a "profit" if your at a later stage in life and are downsizing.

[jedicurt]

Yes, I've helped a lot of people relocate in the last couple years and that doesn't appear to be slowing down anytime soon. Big reason there are more cash sales than before.

that is what i keep hoping is that it is people relocating. but in my neighborhood in norman, of the 12 houses sold in the past 30 months, 10 of them are now rent houses. I just keep getting worried that a large chunk of these cash offers are people just buying up all of the available inventory to then rent them all out and make the market for actually purchasing a family home even more difficult with fewer options. But if i am wrong in thinking that is the majority, please prove me wrong, because i would love to hear that is the case

[OKCRealtor]

that is what i keep hoping is that it is people relocating. but in my neighborhood in norman, of the 12 houses sold in the past 30 months, 10 of them are now rent houses. I just keep getting worried that a large chunk of these cash offers are people just buying up all of the available inventory to then rent them all out and make the market for actually purchasing a family home even more difficult with fewer options. But if i am wrong in thinking that is the majority, please prove me wrong, because i would love to hear that is the case

That's definitely occurring with individual out of state investors and large hedge funds as well. We're still one of the cheapest places nationally. If you're in a sub $200k neighborhood good chance there will be a high percentage of rentals.

[Pete]

This is happening in the other direction as well.

Several former rental houses on my street have been fixed up and sold and none of them were out of state sellers or buyers.

[Richard at Remax]

Big investment firms are buying them up even at these prices, cause it's a volume game. I have been stopped in my tracks from buying a 6th rental because the numbers just don't work for me right now.

[josh]

Be glad you’re not at this point and hope to never be.



It’s a new neighborhood in San Antonio from Lennar that consists of small homes. Like, really small. And they’re selling. /facepalm

Like that one. It sold. /facepalm

[G.Walker]

https://www.oklahoman.com/story/busi...te/9792397002/

Good to see that there is a demand for an apartment tower in OKC. I think the apartment tower slated for the U-Haul site is our best bet. Or maybe Richard Mize is hinting at something else already in the works, we'll see.

[shartel_ave]

https://www.oklahoman.com/story/busi...te/9792397002/

Good to see that there is a demand for an apartment tower in OKC. I think the apartment tower slated for the U-Haul site is our best bet. Or maybe Richard Mize is hinting at something else already in the works, we'll see.

Are the midtown apartments not in use? The midtown apartments in far NW OKC

[Richard at Remax]

A midrise on the Goodwill property would kill it. After being in Austin and Dallas, there are so many APT towers exiting and being built. I know we aren't on that level but there is enough demand for at least one solid one.

[David]

A midrise on the Goodwill property would kill it. After being in Austin and Dallas, there are so many APT towers exiting and being built. I know we aren't on that level but there is enough demand for at least one solid one.

It'd be fantastic to see midrise housing going up on that lot. For reference: Goodwill property on the boulevard.

[mugofbeer]

I would have to think something built on the Scissortail Park would be successful, especially by the time it would be completed a couple of years down.

[April in the Plaza]

Has anyone used Houzeo to sell? It seems pretty tempting in a market like this, if you're comfortable with the contracts and negotiation points.

[shartel_ave]

I walk my dog by this house all the time I thought it was being renovated for someone to move in. Should have known it was going to be a flip.

Nice house

https://www.zillow.com/homedetails/6...21848513_zpid/

[FighttheGoodFight]

I walk my dog by this house all the time I thought it was being renovated for someone to move in. Should have known it was going to be a flip.

Nice house

https://www.zillow.com/homedetails/6...21848513_zpid/

$232 a square foot and you dont even get a garage or good school district. My lord.

[Pete]

I bet that house sells quickly and for pretty much what they are asking.

Fantastic location and that's a very nice renovation.

Nicely remodeled homes in my own modest neighborhood (west of Penn, south of NW Expressway) are approaching $200/SF

[shartel_ave]

I bet that house sells quickly and for pretty much what they are asking.

Fantastic location and that's a very nice renovation.

Nicely remodeled homes in my own modest neighborhood (west of Penn, south of NW Expressway) are approaching $200/SF

You would think it would sell quickly.

there is a house on 32nd close to Shartel that has been listed for over a year or close to a year but its over half a million

Price has been dropped a couple of times and it has a shared driveway and not much of a yard. I know the guy that owns the house on the corner a 2 story red brick house

https://www.zillow.com/homedetails/7...21848502_zpid/

[shartel_ave]

$232 a square foot and you dont even get a garage or good school district. My lord.

not a lot of garages in the Paseo unless they have been recently built or built during the renovation. Once you get into Edgemere Park you see more garages

[Dob Hooligan]

$232 a square foot and you dont even get a garage or good school district. My lord.

My sons went to the "urban" Wilson Elementary in the mid to late 1990s. It was a great group of educators and a real family atmosphere. I won't soapbox, because I can't stop when I get started, but I will say it was humbling, revelatory, and gave my boys a clear-eyed understanding of the world. All while getting as good an education as we could have gotten anywhere. I love OKCPS.