Plaza District

[Pete]

Typically those run-down places are owned by someone who has lived there for a long time.

Ultimately, they can no longer live independently, are forced to sell, and then the flippers swarm.

I've seen this happen at least 10x in my own humble neighborhood.

In fact, one such neglected house was quickly snatched up and two new houses were built on a pretty small lot to start. They both sold within days of hitting the market with no brick and almost no yards and decent but not great finishes. They each went for $235/SF, and this was in the last couple of weeks, well after rates had climbed. Here is one:

https://www.zillow.com/homedetails/2...21880332_zpid/

[shartel_ave]

Typically those run-down places are owned by someone who has lived there for a long time.

Ultimately, they can no longer live independently, are forced to sell, and then the flippers swarm.

I've seen this happen at least 10x in my own humble neighborhood.

In fact, one such neglected house was quickly snatched up and two new houses were built on a pretty small lot to start. They both sold within days of hitting the market with no brick and almost no backyards and decent but not great finishes. They each went for $235/SF, and this was in the last couple of weeks, well after rates had climbed.

That is exactly what I was getting at

[LocoAko]

Typically those run-down places are owned by someone who has lived there for a long time.

Ultimately, they can no longer live independently, are forced to sell, and then the flippers swarm.

I've seen this happen at least 10x in my own humble neighborhood.

In fact, one such neglected house was quickly snatched up and two new houses were built on a pretty small lot to start. They both sold within days of hitting the market with no brick and almost no yards and decent but not great finishes. They each went for $235/SF, and this was in the last couple of weeks, well after rates had climbed. Here is one:

https://www.zillow.com/homedetails/2...21880332_zpid/

Yep.

Here in Military Park there are generally multiple dumpsters on every single street in the neighborhood. Everywhere you look homes are being renovated and flipped. We have a long way to go with many derelict properties continuing to exist but even since we moved here two years ago many of the worst offenders on the area have been turned around.

[Pete]

Generally speaking, the forces at work are greatly improving a lot of decent but not great neighborhoods, my own included.

People moan about gentrification but there are still tons and tons of well-located, inexpensively priced homes. You just have to do some work, which is exactly what I did and my house doubled in value in five years. And my mortgage is about what people pay to rent a decent 2-bed apartment in OKC.

There has been a really ragged rent house around the corner since I moved in 5 years ago. Because prices have appreciated, the landlord tossed out the scumbag tenants (the place had 4 (!) inoperable cars and junk everywhere) and put it on the market. What a relief.

Another benefit is you get more young families moving back into neighborhoods that haven't seen kids in two generations. The houses on either side of me have little kids and it's really nice to see.


Just a few years ago, many of those streets south of the Plaza were pretty rough. Stray dogs running around, cars on lawns, junk everywhere. A tipping point has been reached and as soon as a house is available, it gets a big upgrade one way or another.

[Dob Hooligan]

As much as I would like to see this house sold and made into something better it is not the only problematic property on 16th street. 1500 NW 16th Street has been vacant for at least 5 years and this last week it caught fire. The city has let the owners just board it up. There are other homes that seem to have tenants with no plans of leaving or even fixing the problems to their own properties. Our city lets property owners off easy with small fines and it will likely take years for most of 16th street to be rid of any of these problem properties.

I know this sounds crazy, but I think the state legislature changed the laws within the last couple years so that cities can't force property owners to maintain their properties at a high level. They can barely force them to secure their property, IIRC. I'm sure it was something about government overreach in the big city and the woke mob.

[OkieBerto]

Typically those run-down places are owned by someone who has lived there for a long time.

Ultimately, they can no longer live independently, are forced to sell, and then the flippers swarm.

I've seen this happen at least 10x in my own humble neighborhood.

In fact, one such neglected house was quickly snatched up and two new houses were built on a pretty small lot to start. They both sold within days of hitting the market with no brick and almost no yards and decent but not great finishes. They each went for $235/SF, and this was in the last couple of weeks, well after rates had climbed. Here is one:

https://www.zillow.com/homedetails/2...21880332_zpid/

I have watched many homes that looked completely run down turn into beautiful new properties. The downside is, that the house directly west of the one that burned on the corner is in the middle of a major renovation. The person working on that home who has already put in a ton of time and money could have also lost that home. Causing them to have to start over. There is also a home on 16th and almost McKinley that was basically rebuilt from the foundation up and seems to be completed, for the most part, that has sat vacant for most of this year. Have not seen a for sale sign or anything, just a landscaper who comes by from time to time to keep up the front plants. There are all types of odd things going on up and down 16th Street.

[shartel_ave]

Generally speaking, the forces at work are greatly improving a lot of decent but not great neighborhoods, my own included.

People moan about gentrification but there are still tons and tons of well-located, inexpensively priced homes. You just have to do some work, which is exactly what I did and my house doubled in value in five years. And my mortgage is about what people pay to rent a decent 2-bed apartment in OKC.

There has been a really ragged rent house around the corner since I moved in 5 years ago. Because prices have appreciated, the landlord tossed out the scumbag tenants (the place had 4 (!) inoperable cars and junk everywhere) and put it on the market. What a relief.

Another benefit is you get more young families moving back into neighborhoods that haven't seen kids in two generations. The houses on either side of me have little kids and it's really nice to see.


Just a few years ago, many of those streets south of the Plaza were pretty rough. Stray dogs running around, cars on lawns, junk everywhere. A tipping point has been reached and as soon as a house is available, it gets a big upgrade one way or another.

Most people don’t have the money to buy a home and dump a ton of money into it to renovate the home that’s just reality.

The average family income in the state of Oklahoma is $58k annually before taxes

South of NW 16th still has tons of rundown homes

[Pete]

^

You don't need "a ton of money" to fix up a home.

I've done it twice and did a lot of the work myself.

[shartel_ave]

^

You don't need "a ton of money" to fix up a home.

I've done it twice and did a lot of the work myself.

You need a lot of disposable income, I’m guessing you make over 6 figures

I do really well myself and I grew up in poverty and have a lot of family living that reality now. Most people can’t afford to do what you are saying.

Upper middle class maybe

I’m dropping $500 just to get my yard decent, I’d do it myself but my injuries from the military means I can’t do it but I’m fortunate enough to have the money.

And really I don’t have a yard it’s mostly having trees cut down and large bushes cut down

[Pete]

You need a lot of disposable income

You can do a lot for a little if you are willing to put in the work.

Materials are generally cheap.


Anyway, back to discussing the Plaza District.

[therhett17]

Went through the Plaza today and noticed a road closed sign for 7/20 and all of the concrete walkways had utilities marked on both sides of the street.

[Laramie]

You need a lot of disposable income, I’m guessing you make over 6 figures

I do really well myself and I grew up in poverty and have a lot of family living that reality now. Most people can’t afford to do what you are saying.

Upper middle class maybe

I’m dropping $500 just to get my yard decent, I’d do it myself but my injuries from the military means I can’t do it but I’m fortunate enough to have the money.

And really I don’t have a yard it’s mostly having trees cut down and large bushes cut down

Veteran... Is there funds available thru the VA to fix up your home? My cousin (Lenola) was married to a Veteran who died and they paid for all of her home improvements.

[shartel_ave]

Veteran... Is there funds available thru the VA to fix up your home? My cousin (Lenola) was married to a Veteran who died and they paid for all of her home improvements.

You can only use a VA home loan to buy a home and you can only use it once. I haven't used mine.

I'm fortunate, my home is paid off.

edit:

just found this link

https://www.veteransunited.com/valoa...xisting%20home.

[BoulderSooner]

You can only use a VA home loan to buy a home and you can only use it once. I haven't used mine.

I'm fortunate, my home is paid off.

edit:

just found this link

https://www.veteransunited.com/valoa...xisting%20home.

you can you your va home loan benefit multiple times .. (you just can't have more then 1 va loan at a time)

[shartel_ave]

you can you your va home loan benefit multiple times .. (you just can't have more then 1 va loan at a time)

you are correct. You can use it as much as you want as long as you meet the requirements. I've been out for over a decade and never used the benefit.

[BoulderSooner]

you are correct. You can use it as much as you want as long as you meet the requirements. I've been out for over a decade and never used the benefit.

i have used it on some houses and not used it on others .. ...

[therhett17]

[TheTravellers]

Thx for posting this, we'll park a street or two further away than we usually do when we hit the Plaza for the next year.

[Bits_Of_Real_Panther]

I was out for a walk around sunrise. Watched the 10 bus blast by heading west on 17th! Hadn't seen that before!

Scorecards had their new sign up.

And that corner, believe it's bad grannie's, or something like that...anyway used to have a community food shelf outside. Someone would drop some bakery items there, like bagels from locally. Also would have canned goods, bottles of water, etc.

Anyway that food shelf is no longer around, the gentrifier class I'm sure must be patting themselves on the back...

[shawnw]

It's done that before for detours, so get used to it :-)

Here's a video from Hide and Go Bike going through there tonight, it's quite torn up already...

[BridgeBurner]

Has the city published any renderings for what exactly they are doing to the streets in the plaza similar to what they did for 39th st https://www.okctalk.com/showthread.php?t=40603&page=8?

[therhett17]

Has the city published any renderings for what exactly they are doing to the streets in the plaza similar to what they did for 39th st https://www.okctalk.com/showthread.php?t=40603&page=8?

I was wondering the same thing. The concrete wasn't in bad shape where they tore it up, so I'm wondering if this is a major renovation of some type?

[baralheia]

Went for the free food test at Neon. Had the bacon, egg, and cheese sandwich on the donut bun. Loved the taste and the bun isn't overpowering. I just drink cold brew, but it is pretty decent.

I went today to try the donuts and got the Chocolate. They are a good size and not bad. I am not really a jelly donut-style type person, so I will just stick with the sandwiches. It was busy and the staff has it down to a science already. I think this place will be a hit!

Tasting Table ranked Neon's donut-bun BLT as one of the 20 best breakfast sandwiches in America: https://www.tastingtable.com/940402/...es-in-america/

[HOT ROD]

#7 to be exact. Looks good!

[DoctorTaco]

Neon Coffee's donuts continue to impress me. Which is good, because their coffee is fair at best.