Housing Market in OKC

[ljbab728]

You would think Moore would be encouraging more dense, urban development since they will be running out of land in the next several years if trends continue.

And what would they do to encourage that?

[catch22]

And what would they do to encourage that?

They seem to be able to encourage every other style of development....

[ljbab728]

They seem to be able to encourage every other style of development....

So you think they don't want any higher density development? They are obviously giving some incentives but you have to have someone who wants to develop higher density first to give an incentive to. That isn't easy to find in a suburb. Finding developers for the kind of development they are getting who are willing to take incentives isn't that difficult.

[catch22]

The dense development would occur if they laid a foundation for it. Provide a space to build around. Instead of a place to just build on. Just throwing money out the door on ever-widing roads and new subdivisions isn't going to do squat.

[ljbab728]

The dense development would occur if they laid a foundation for it. Provide a space to build around. Instead of a place to just build on. Just throwing money out the door on ever-widing roads and new subdivisions isn't going to do squat.

I'm sorry but that doesn't really say anything about what they should do. What does laying a foundation mean? Every city improves roads so Moore isn't any different. They certainly can't tell land owners of undeveloped land that they can't build a new subdivision if it's properly zoned. I understand what you're aiming for but there is only so much the city can do without developers who want to do dense development and that isn't likely for Moore anytime soon.

[catch22]

Instead of just investing in roads. Invest in public spaces. Change your city codes. Provide a transit system. Any basic urban features to just get something started before they are completely out of land and unable to further expand their population.

[Snowman]

The dense development would occur if they laid a foundation for it. Provide a space to build around. Instead of a place to just build on. Just throwing money out the door on ever-widing roads and new subdivisions isn't going to do squat.

Most of their land is near the perimeter of the city, the likely spot I think could work for a start is fields and a couple warehouses adjoining where their central park is proposed near the railroad. With part of their plan moving their old station to the park, it makes it a natural park and ride if commuter rail ever gets established or for an Amtrak stop, dense development alongside cements that as the best place for a rail stop in Moore. The space is fairly long but relatively narrow, with single family housing backing the narrow side. So assuming they would want that and could incentivise dense development there, they would probably have to limit the entire project height to either two or three stories instead of having a tapper before they get a lot of push back (it probably would need some good PR to for people not to complain about density anyway).

[ljbab728]

Instead of just investing in roads. Invest in public spaces. Change your city codes. Provide a transit system. Any basic urban features to just get something started before they are completely out of land and unable to further expand their population.

Sounds nice, but you still have to have investors wanting to build dense development in a suburb. Those aren't common. What kind of public spaces are you talking about and change what city codes? How would that encourage dense development by investors?

[Plutonic Panda]

Central Oklahoma homebuilders surge in 2012 | NewsOK.com

[BBatesokc]

Good news according to The Oklahoman. The housing market seems alive and well in Oklahoma City with the exception of a few suburbs.

Oklahoma City homebuilders are acting like it's 2002 | NewsOK.com

I would agree with the article. With our only kiddo out of the house and no more college expenses to pay for we finally decided to move after 15 years in the hood.

Interest rates are just too low and prices pretty decent if you wanna build or buy used.

We locked in 3.275% on a nice home in a great wooded neighborhood on 2.5 acres in Edmond near 33rd and I-35.

We decided to go with a used home over a new one. We could have gone new, but for the same price we'd be on some small flat piece of land in some new edition with no trees and virtually every other house looking the same and only an arms length apart. The wife and I prefer 'character' and a lack of neighbors over that cookie cutter high end apartment look (probably because we are getting old and grumpy).

But, like the article said, closing was a nightmare. Even though we set the date over a month out, the underwriters still waited until the last week to even look at the paperwork and make their laundry list of requests. Even going conventional with a big downpayment on a place appraising for more than we were paying, it was still stressful.

We had friends who built a new place near Chesapeake and the Classen Curve and even with 50% down they were denied by the first lender (picked up by a second).

Selling on the other hand has been no fun either. Two bedrooms in a not real desirable neighborhood proved to be a chore to sell.

[Richard at Remax]

Shameless of shameless plugs but I am putting my house in Edgemere Park on the market next week after labor day. 3 beds and 2 baths, 1825 sq feet with almost 700 sq feet in basement not included in price.

So if you know anyone who is interested it is on Edgemere Ct just south and west from Eubanks St

PM me if you want any extra details

[Plutonic Panda]

Oklahoma City keeps mopping up home listings | News OK

[Plutonic Panda]

Demand builds: Homebuyers face inventory shortage in OKC metro | The Journal Record

[Plutonic Panda]

Oklahoma City-area home sales as warm now as in early 2014, except for Edmond | News OK

[Plutonic Panda]

County sees $1M homes on rise | News OK

[Canoe]

Nice break down by zip code

[oklip955]

Seems like a lot of new houses are still going up. Hope they get sold. Its looking like anything over $300K is moving slow, is that correct? Any real estate people in this group?

[Pete]

The core is still red-hot.

Anything decent sells very quickly and at a pretty good premium.

[okatty]

Seems like a lot of new houses are still going up. Hope they get sold. Its looking like anything over $300K is moving slow, is that correct? Any real estate people in this group?

I was in a meeting last week with a builder, banker and realtor. Their basic consensus was that the $300-500K market has softened. They were not talking about a particular area but probably NW and Edmond as opposed to the core would be their focus. The lower market still seems strong and interestingly the very high upper end market pretty strong especially customs. I understand there will be 9 homes build in the 16 Street of Dreams in Edmond (Iron Horse Ranch) and all will be at or over $1mill.

[cxl144]

Living in the Yukon District/WOKC I can say the pace of development is really picking up on this side of town. At the SE corner of SW 29th and Mustang Road dirtwork has begun on Meadow Park, a full 1/4 section that will eventually be 420 homes. The last development started near my house was sold out before they could complete the infrastructure for the next phase.

[Plutonic Panda]

'Unprecedented market': The trials and tribulations of the first-time Oklahoma City home buyer | News OK

[AP]

Just went through this experience. To say it was the most stressful period of my life would be an understatement.

[sooner88]

I've been in the market off and on for the past year/year and a half and that was my exact experience. Any house that is worth buying is gone in days if not hours. Also, like she mentioned, there are a lot of houses where they made cosmetic updates (i.e. kitchen, etc.) yet left the major updates untouched. Had I not had my realtor with me as an unexperienced buyer it would difficult to know what all to look for and what questions to ask.

[AP]

Luckily, I used Verbode and they were able to show me another Verbode listed house a day before everyone else saw it so I was able to get in an offer 24 hours in advance.

[Canoe]

What price range are y'all looking in. There is a difference between 100k, 200k, and 300k.