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Oklahoma job market looks good - 01/31/09 10:48 AM
The U.S. Bureau of labor statistics are very kind to Oklahoma. Both of our major metropolitan markets, Oklahoma City and Tulsa, show a rise in jobs for 2009 to be .2%. I know that sounds like damning with faint praise, but look at the layoffs just last week. The Bureau is also estimating a total U.S. job loss for 2009 at 2 million. So for Oklahoma to show even a blip of an increase is good news. The housing market here is still stable. Even with a reduction in volume in 2008, we held on to a slight gain in housing values … (0 comments)
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Under 5% Mortgage Rate for Real Estate Investors in Oklahoma - 01/29/09 06:23 PM
One of our state banks has given up special financing for investors who want to buy residential real estate in our state. The only people who cannot qualify are investors who live in California, and in certain areas of Florida. Those limits are due to the problems with the economies of those states, and the dramatic drop in home values. What is being offered is 20% down financing with rates below 5% fixed on 30 year financing. One has to have a credit score of 720, pay two discount points, and own no more than 6 homes including a personal residence. … (0 comments)
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CRS "Sellabration" in San Francisco - 01/28/09 03:42 PM
CRS, Certified Residential Specialist, is the top designation in residential real estate. It's members represent the top 4% of Realtors in the United States. Every year they have a convention called "Sellabration", and this year it is in San Francisco. I am privileged to have been asked to be on a panel with one of my favorite people in real estate, Pat Zaby, on low and no cost marketing for Realtors. It is not just that everyone is tightening their belts and reducing cost, it is also that the Internet has given us many free sites that can spread the word about … (0 comments)
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Is it enough for Oklahoma City to hold its own? - 01/27/09 06:05 PM
My last two post were about how good news about the Oklahoma economy is filtering in through the gloom of the national presses focus on what is falling apart. Today more job significant job losses were reported by Catepillar, Sprint, Home Depot and others. Catepillar alone reported 20,000 lay offs. Some estimates of job loss in 2009 run to another 2 million to match the 2 million from last year. Is Oklahoma City really an oasis in an economic desert? The answer is no. We have worked hard since the 1980's to diversify our economy to match job numbers in the … (0 comments)
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Oklahoma City is weathering the economic storm - 01/24/09 05:15 PM
Moody's just released a list of the 100 best compnaies to work for. Among the criteria is new jobs being created. Devon Energy of OKC ranked No. 13. American Fidelity of OKC ranked 46, and Chesapeake Energy ranked 73. Chesapeake is just finishing two buildings at $20 million each that will bring its campus to 33 buildings. Devon is going forward on it's new $750 million office building.
Forbes has just released its top 25 housing markets, and Oklahoma City and tulsa are in the top 25. In the first year of the NBA's Oklahoma City Thunder we are in the … (0 comments)
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Oklahoma City and Tulsa in Forbes Top 25 housing markets - 01/21/09 03:48 PM
Forbes.com in conjunction with Moody's Rating Service has evaluated the Top25 and Worst 25 housing markets in the U.S. There ratings considered the job market, inventory levels of homes, foreclosures, and previous history of inflated run ups in prices. Most of the Top 25 did not participate in the shark feeding frenzy that saw sky high prices, and ridiculous sub-prime financing to back it up. Both of Oklahoma's major metropolitan markets were in the Top 25. Both Oklahoma City and Tulsa are expected to have a very samll sell off in 2009. I don't think anyone is looking for markets tp … (0 comments)
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Oklahoma State budget looks Good - 01/18/09 06:10 PM
It is a good time to be in Oklahoma and not places like California. All the states recently published their projected shortfalls for 2009. Many states like California are projecting huge deficits even into the billions. California recently suspended tax refunds and welfare checks. On the other hand Oklahoma increased its budget for 2009, and projected no mid-year shortfall and a deficit of only 1.7%, or less than the budget increase. This is with drops in revenues coming for the oil and gas industry. The shortfall is projected at the end of the year to be only $110 million which is a … (0 comments)
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Norman Oklahoma Owner Carry Condo Project - 01/17/09 11:18 AM
2009 is finding the mortgage industry without good loans for investors. Fannie Mae has reigned in the number of properties financed to 4 total, and no company wants to back 10% down conventional investor loans. We have an answer. The East Village is a new condo project just over a mile from the University of Oklahoma. That state school is well endowed and growing, and college towns have a regular turnover of renters, so it is not related to how the job market is doing. With the loss of jobs in the U.S. this is an important point for investors because vacancy really … (0 comments)
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The Real Estate Buyer-Seller Disconnect - 01/14/09 06:50 PM
Sorry for the delay in my blogging lately. It seems cancer can be a full time job. I just got back from MS Anderson in Houston to have to deal with two investor offers on a new already rented home. The orginal list price was $175,000, but the builder financed this home with was his last since that company was absorbed by another, and the note was due. We lowered it for a quick sale to $149,900, paid the 87.5% lof the first month leasing fee, and had a solid year lease. This was also in East Edmond Oklahoma where the … (1 comments)
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Oklahoma needs Energy Conservation - 01/06/09 06:54 PM
In the Presidential election, much talk was given to the need to reduce our dependence on foreign oil. Senator McCain touted drill baby drill which would not touch the problem for maybe 10 years from now, and a return to nuclear energy plants which have been shown to be too expensive to be effective. President-Elect Obama wants to do green infrastructure spending, but again this is a long term solution, so the question is, what can we do now?
The answer is energy conservation, higher fuel economy standards, and less waste. The last energy crisis in the U.S. was in 1973. Not only … (0 comments)
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Oklahoma City real Estate in 2009 - 01/05/09 04:00 PM
I am back in my Edmond Oklahoma office today to start the work for this year. It is difficult to get going after 4 months of a cancer fight and losing my mother at the end of the year, but I want to have a great year for my clients in honor of my mother's courage, honesty, and will. The Oklahoma City area, as well as the state was able to weather the financial and real estate storm of 2008 with surprising numbers. Once the December stats are calculated it looks like the Oklahoma City area will only show a 10.8% … (0 comments)
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Republicans Wrong on Big 3 Bailout - 01/05/09 03:59 PM
The Republican party have returned to the glory days on Herbert Hoover. Their attitude after busting the budget for the first six years of Bush and the next two years blocking progress, is to all of a sudden become fiscal conservatives. It is especially galling for the Southern Senators like Shelby talk to about how it is irresponsible to give 14 Billion to Detroit while he sits is in a state that has given away the farm to get foreign automakers like Toyota to come to his state. Taslk about conflict on interest. I hope but fear this is also the Republicans way … (0 comments)
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Joe Pryor.com REALTOR® Oklahoma Investment Properties
Oklahoma City,
OK
More about me…
Redbud Realty
Address: 515 S Santa Fe Ste 101, Edmond, OK, 73003
Office Phone: (405) 216-0020
Cell Phone: (405) 590-2135
Email Me
We want to inform you of economic and demographic information in Oklahoma, as well as alert you to unique investment opportunities in both residential and commerical real estate. We also will step outside of our state to comment on important news and events as they shape our real estate world. This blog has opinions but is not dogmatic. We hope for open dialogues that make us all better Realtors that give exceptional service to our communities.
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