The summer might be winding down, but the Oklahoma City market is still hot! As reported by The Oklahoman apartment sales prices are holding steady based on a mid-year report released by Commercial Realty Resources Co.
The metro-area multifamily investment market, he said, is seeing sustained high prices because investors just keep coming “and buyers are becoming more comfortable paying these prices because so many other people are paying them.”
As most people know in the area, investor from outside the market are finding out the Oklahoma City offers great potential on a high ROI. Of course if you can’t get into an existing building keep an eye on new development. Mike Buhl from Commercial Reality Resources Co “expects to see continued strong construction of new apartment complexes for the next 12 to 18 months, at least.”
Source – Oklahoma City Apartments Still Hot With Investors
Every week I run across various articles and videos that I find interesting that I don’t have time to discuss but would like to share. Welcome to the first “Week in Review.”
Detroit Foreclosure Auction: All The Basics You Need To Know Before You Bid On Property (Huffington Post)
Last year, 20,041 Detroit properties went to auction. 703 properties sold in the first round, and 11,831 sold in the second (county wide). 7,920 Detroit properties did not sell even for a minimum bid of $500.
Lets Talk Mavs #MFFL (Blog Maverick) – editors note: I am not a Mavs fan at all but very rarely do you see this kind of openness in the NBA.
I wish i could share the texts coming from some of our vets who saw the season slipping away. As one guy said “We are done”
Real Estate – It’s About Story Telling and Brands (A Student of the Real Estate Game)
At the end of the day real estate is what I do and what I love to do. I don’t believe it should be relegated to rich people. Now, slowly but surely, it won’t be.
5 Best College Towns for Real Estate Investors (Fox News)
People thinking about getting into real estate as an investment can bring in a profit buying a home in a college town as enrollment numbers continue to rise and schools struggle to meet on-campus housing demands.
And finally a funny video to end your week on…
If you remember my first post I told you sometimes I would write off topic about what every was on my mind. Well today I want to talk about the Oklahoma City Thunder and there 2013 off-season. I will start off with stating that the Thunder really don’t need that much when you factor they have two of the top 10 players in the NBA. I was a little disappointment that they were unable to add a solid third scorer to the group, especially when you consider that most of the time the Thunder are playing 4 on 5 on the offensive side when Perkins or Ibaka are on the floor. Most people will be disappointed that they were unable to trade up in the draft, but with such a weak draft this year, unless you were getting the number #1 pick I don’t think it was worth the risk.
At the end of the day, as long as Durant and Westbrook are healthy I think this team can still win 55+ games this year and go deep in the playoffs. Also, if the Thunder are in the hunt don’t underestimate Presti making a big move at the trade deadline for that third scorer.
The last couple of weeks I have been seeing all the great activity of a health real estate market in Oklahoma City and here is one more example.
“Greystar is very excited about making our first investment in Oklahoma City. We are attracted to the healthy economy of the city, particularly the tremendous economic benefits of the domestic energy sector and the importance of Oklahoma City within this growing industry. We intend to grow our multifamily platform in Oklahoma as an investor and as a third-party property manager,” Fuller said.
It is awesome of not only the real estate industry but the city as a whole when large companies take an interest. I can’t wait to see what is next!!!
From the latest reports from Reality Trac and the National Association of Realtors-Oklahoma, the Oklahoma City market is looking great! Month over Month home sales were up 16& from March to April 2013 and foreclosures have dropped 33% during the same time. If you are looking for hot neighborhoods, Trulia has listed Quail Creek, Cleveland UCD, Shepherd Historic District, Crestwood and Downtown Oklahoma City as the top 5 most popular neighborhoods with the week ending June 26, 2013.
-source: Reality Biz News