Investing in Oklahoma City Real Estate Part Six-Exit Strategy - 03/31/10 06:25 PM
On previous post about real estate investment in Oklahoma City, I have dealt with how to get started, choosing a location, return on investment, property management, and what to do about mortgages. Today the topic is the exit strategy. First it depends upon why you bought the property in the first place, and how old were you when you decide to dispose of it. My personal opinion is residential real estate investing especially in a long term market like Oklahoma City is for a lifetime, but lets examine a few reasons for some type of liquidation.
I have to sell. Into each … (0 comments)

Investing in Oklahoma City Real Estate Part Five-Location, Location, Location - 03/30/10 10:32 AM
Oklahoma City real estate investment requires that you pay attention to this cliche. Yes it is what all Realtors are taught, but it needs to be drilled down to fit your investing guidelines and goals. I want to run through possible locations and types you need to be looking for and some of the answers may surprise you becasue some markets are being ignored.
School System driven location. This is the easy one. If you have a robust employment market, and Oklahoma City is one of the best, you have relocation. Two main questions I always get from these folks is … (1 comments)

Investing in Oklahoma City Real Estate Part Four-ROI - 03/28/10 11:30 AM
If Oklahoma City real estate investing is your choice, then it is important to get an estimate of your reutrn on investment. This is different from the retun of investmnet, that is getting you money back it cost you to get in. Return of investment is defined as the percentage you make on your money while that money stays in the investment. When you exit that investment depending on whether you do a tax deferred exchange or a cash out, my team 's estimate will give you an annualized return with both a pre-tax and a post-tax analysis. Personally my recoomendatio9n … (0 comments)

Investing in Oklahoma City Real Estate Part Three-Property Management - 03/27/10 10:58 AM
For years I managed myself the investment homes I owned in Oklahoma City. As a property manager I wasn't good. First I had a hard time getting tough on late payments. I am a sucker for a hard luck story. Second, I don't like to handle the little stuff that renters throw at you, and some are very trivial. In other words, I had not master the classic lines taught to be in CRS 204 by Jock Barker when payments are late and they have another excuse, "That just doesn't work for me". The reply "why not"? "Because it doesn't. Sounds easy … (6 comments)

Investing In Oklahoma City Real Estate Part Two-Mortgages or Not - 03/25/10 07:07 PM
Back in 2005 if I was writing about buying investment homes in Oklahoma City I would have been talking about the power of leverage. On paper I could have shown you a return on investment analysis that was a greater yeild with 10% down versus 20% down. Howvever the last time i checked it is 2010, and lenders are not doing 10% down loans or their cousin 80-10-10 loans. So 20% or more is the norm. The non-conforming conventionals and the i will portfolio your loan options are also gone, so I want to go into the four ways you can buy an investment property in … (0 comments)

Investing in Oklahoma City Real Estate Part One-Where to start - 03/24/10 04:36 PM
Oklahoma City offers real estate investment opportunity in evry area, and every price range. Unlike many overheated areas, Oklahoma was not subject to a huge upswing in pricing beginning in 2001, and was never overstaurated in investment property driving rental prices down. In 2004 I started to get numerous investors doing 1031 tax deferred exchanges out of the Phoenix area as well as Nevada. These savvy investors knew that these markets were played out and they were looking for a safe haven. Oklahoma City has the place they began to buy in. From 2005 through 2008, I closed over 500 investment … (3 comments)

Oklahoma Licensees - *Important* - Per Change Coming in Oklahoma Rules - Your Use of Social Networking Sites - 03/21/10 06:39 PM
Judi Barrett, an oklahoma broker has posted on Active Rain a valuable piece of information to all realtors here who use social networks as well as automated feeds that originate from a blog post. make sure you follow new Commission guidelines to avoid potential finesa and be in compliance with state real estate rules. Looks like i will be doing a lot of checking tomorrow.
Via Judi Barrett Integrity Real Estate Services, 580-212-5946:
Oklahoma Licensees - Important - Per Change Coming in Oklahoma Rules - Your Use of Social Networking Sites Oklahoma Real Estate Licensee Rules that were adopted on  3-10-2010 (yes only … (2 comments)

Real Estate marketing-Are you a Hunter or a Farmer? - 03/21/10 05:35 PM
Seth Godin asked that question about a month ago in one of his daily blog post. It was not just for realtors, it was for anyone that markets on the internet. Seth first asked us to define ourselves as what type of personality we have. He is big on being yourself and going after what you like to do passionately. He also requested that as you look at the various sites to market to for real estate to analyze what type of sites they are, so since I do both, but honestly I like hunting and don't we all, I want to … (5 comments)

Government loan modification can drag your credit down - 03/20/10 08:09 PM
I just read an article on www.msnbc.com that has confirmed what we are hearing from Oklahoma City homeownersn in distress. If a homeowner applies for the making Home Affordable plan and is not behind on their payments, they could be hit as hard as 100 points. Owners already behind are going to have lower scores becasue they are late, but evidently a credit hit when you are not behind is a nasty surprise. Once they applicant enters the trial period once tghat is reported to the credit bureaus then a reduction ahppens becasue it is reported as a sign of financial … (1 comments)

Create a caption for this photo - 03/19/10 10:43 AM
Yesterday I was on my way to a small town outside of Oklahoma City called Tuttle to pick up our poodles from the groomer, I had to do a detour for road construction and I came upon this for sale sign. Sometimes the law of unintended consequences can actually make you smile. Folks, you can't make stuff like this up. Share your captions. My first thought was, I wouldn't dare offering anything below list price.

… (10 comments)

FHA short sales in Oklahoma City are not selling - 03/18/10 10:54 AM
Oklahoma City is one of the better real estate markets in the country. It has also been assessed as one of the best places for low unemployment as well as a haven for young people looking for work. So you would think that with the $8000 tax credit deadline coming up that anything below $100,000 would sell, right?
Wrong. FHA has a limit of 1% closing cost on short sales. But you say to yourself that's no problem if it is a smoking deal. I have a house in the suburbs listed at $75,000. It has an almost new roof, central … (3 comments)

Have we lost our sense of humor? - 03/17/10 05:24 PM
I woke up this morning to my daily routine that involves reading Active Rain posts. I particularly enjoyed Sheldon Neal's creative limericks on Active Rain members on this St. Patrick's Day. Sheldon meant no insult to the Irish, or the objects of his limericks. Most importantly, like others who read it I laughed. 
So I was off the Facebook to do a little daily fun of my own. I treat my news stream as a group of friends and a community so I try to engage them not on real estate but on personal matters. I want to console my friends … (14 comments)

The Rational Leap of Faith into social media - 03/14/10 03:13 PM
One of my favorite philosphers is Soren Kierkegaard, the father of modern existentialism. He put forth the idea that in order to go from the rational to the spiritual which has no tangible proof, you had to make the irrational leap of faith. If Soren was alive today and using social media he would add the rational leap of faith, becasue unlike traditional media where it is difficult to quantify results, social media and the internet in general can give you a peek into the soul of media, and come out with quantifiable analysis.
It has to start with a general idea … (15 comments)

Edmond Oklahoma real estate Short Sales, a few myths exploded - 03/09/10 10:58 AM
I pay a lot of attention to Edmond, Oklahoma real estate, especially short sales. Not only is Edmond where I have always officed in real estate, it is also where I am most invloved as Presidnet-Elect of the Board of Realtors there. So it gets to me when I hear professionals misrepresent the process and this includes not only Realtors but also lawyers and CPAs.
Let me tell you what I have been told in just the last week. One client asked their CPA about doing a short sale instead of a foreclosure. The CPA told them that either way the … (5 comments)

Oklahoma Realtor Spring Tech Conference-Part Two - 03/08/10 01:26 PM
Yesterday I started tallking about our conference in Oklahoma City that is starts this Wednesday. One of my laments was that so many who need it won't be there. I am happy to report that we have now gone to 300 participants and I think that is terrific. There is a special irony about the meeting becasue on the day we start, Realtor.com is having a free 3 hour marketing conference at another location. Leave it to them to plan it this way, and to think that this is "free" is amusing to me considering that they charge a bundle for … (0 comments)

Oklahoma City Realtor Spring Technology Conference - 03/07/10 06:15 PM
On March 10th & 11th, Our city Realtor association is holding a two day event that highlights the use of technology and social media marketing in our daily Realtor business lives. I am excited to be a panelist and a presenter but first a word about the important people. First is Brain Boero of 1000 Watt Consulting. If you have been to Inman you have heard Brian, and he is cutting edge. Gee Dunsten who I have had as a CRS instructor is bringing much needed training on business planning. We have smart phone experts, communication experts, and oh yeah, local … (1 comments)

When I'm down I just go to the Apple Store - 03/05/10 05:38 PM
As much as I wish everyday in Oklahoma City is a great day where all is well, everything is selling, people are extremely polite, and I feel like a million bucks, I know that life just isn't that way. What do you do on days like this? I guess you can get toasted but hangovers are nasty. You can go to an therapist but that is expensive. You can go out and practice road rage, but you never know if someone in another car is crazier than you. None of that works for me. What does work for me is a trip … (8 comments)

Components of the real estate offer - what to consider when you receive an offer on your home for sale - 03/05/10 08:28 AM
Graet advice from my Tulsa friend Lori Cain. As a Realtor people look to us not only to get a contract but successfully make it to closing with a minimum of trouble. The devil is often in the details and Lori has pointed this out that you have to look beyond the gross number. I would add that the A offer puts less stress on an appraiser to justify the value. When your home is under contract it is off the market. Losing 30 days because the house did not appraise and the buyer is gone does you no good. 
Via Lori Cain … (0 comments)

What selling REO's can do for your home value analysis - 03/04/10 06:48 PM
I entered real estate in October of 1989 in Oklahoma City. We were 7 years past the energy bust of 1982, but distressed housing was so dominate that private sellers had no choice but to sit and wait. I cut my real estate teeth selling HUD and VA repos. I would get a weekly list of HUD's for the state and there was never less than 2500 on the list, and this continued through 1993. The first 100 or so homes I sold were either a HUD or VA, with an FDIC thrown in for spice. We joked about the Fannie … (2 comments)

20 Eco-Savvy Steps Sellers Can Take to Attract Eco-Friendly Buyers and a Speedier Sale - 03/03/10 04:23 PM
JaneAnne has written a resonable guide to being eco-friendly. Her practical application to energy efficiency is something that everyone can use to market a home more effectively, or just save money on utility bills.
Via Asheville NC Real Estate- LAND & Green Built Homes:
20 Eco-Savvy Steps Sellers Can Take to Attract Eco-Friendly Buyers and a Speedier Sale  
Looking for added value, Buyers demand eco-friendly features and Sellers benefit from that demand. . Sellers, you know the "Banish the Clutter!" anthem.Creating a great first impression is important, but investing in a home- and that's what buyers are doing- means Buyers are also  looking … (0 comments)

 
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Joe Pryor.com REALTOR® Oklahoma Investment Properties

Oklahoma City, OK

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Redbud Realty

Address: 500 W. 15th Suite 3, Edmond, OK, 73013

Office Phone: (405) 216-0020

Cell Phone: (405) 590-2135

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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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