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
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
I have always been a fan of real estate and the entrepreneurial leadership and I have decided I would like to share my thoughts on what I am seeing in the market and other random topics that might come up. Less not forget that football season is right around the corner and the Oklahoma City Thunder are building a championship contender. So please join me on this little adventure and let me know what you think. Sometimes I will be thought provoking, sometimes I will be wrong and hopefully sometimes I will be funny.
With that said I would like like to share this post from The Bigger Pockets Real Estate blog on starting your own real estate investing business. I have experienced the hard days and long nights and completely understand the market.