Oklahoma City Information

Leaving a vacant home in Oklahoma City up for sale can be very costly. You will still have to pay your taxes and mortgage payments and there are other expenses you’ll have to pay on top of that. Generally speaking, it is always best to avoid selling a vacant property whenever possible.

Here are some of the added expenses you can expect when selling a vacant home in Oklahoma City.

1. Homeowners insurance

You will have to let your insurance company know that the home will be left vacant. This will increase the premiums and you may have to pay up to double the cost to keep the house insured. There will be an increased risk of theft and vandalism to your vacant home in Oklahoma City as well as the risk of damage from home systems that malfunction. If a pipe were to leak, for example, the results could be disastrous.

2. Maintaining the exterior

You will have to make sure that the exterior of the home is maintained while you are gone. The grass will need to be cut and trees and bushes will need the occasional trimming. The overall condition of the exterior will need to be checked on a regular basis to make sure that no debris falls onto your property from the wind or a careless passersby.

3. The interior of the home

You’ll need to hire a caretaker to walk through your Oklahoma City home on a regular schedule. They will also need to open the windows to air out the house and make sure that everything remains in order. They will be looking for anything out of the ordinary that may suggest that someone has stepped into the house that shouldn’t have been there and also keep a lookout for any systems that are malfunctioning, such as the electrical or the plumbing.

4. A pool

If you have a pool you will need to have it maintained while you are gone. The pool service will make sure that the proper chemicals are added to the pool to prevent algae and other fungi from accumulating and will manually clean the pool of any debris.

Your real estate agent can give you more hints and suggestions about leaving a vacant home in Oklahoma City up for sale. You will not only have to pay extra for home maintenance and insurance, but you may end up with a lower closing price as a result of selling an empty home. You need to weigh your options and only leave the house empty if there is no other alternative available.

While real estate can be a very good investment vehicle worth considering, some people are now offering real estate seminars in Oklahoma City that make outrageous get rich quick promises. Many people are attracted to the prospect of making thousands of dollars on property after investing a small amount of money. You can end up investing hundreds and even thousands of dollars for these seminars that tell you there is fast money in real estate. While some seminars are legit, some are a scam.

Indeed there are genuine seminars that educate investors on the real estate industry without making guarantees of quick wealth. Tread cautiously if you see ads promoting ‘investment secrets’ and ‘risk free investments’ for these seminars.

Here are some questions to ask yourself before attending any of these seminars.

Can the speaker show real experience that he has he made money from real estate investments?

The speaker should be able to provide real proof that he has used the information he is offering to make wealth. Proper information and recommendations about the speaker should be provided with accurate contacts that can be investigated further. Be weary of speakers who use religion to gain credibility.

Is proper information provided prior at the seminar?

Most advertisements about a seminar tend to focus on the good things without giving real information. A beautiful picture of wealth and luxury is painted without any real information on how to get there. Good real estate seminars in Oklahoma City should give you details on what you would have to do to make a profit and mistakes you should avoid. The objectives and the discussion points of the seminar should be clearly spelt out in advance.

What materials are provided?

Many seminars offer books and CDs for sale. Ensure that the materials provided are useful and written by well-known authors. Read through the first few pages and go through the table of contents. This will give you a good idea about the material and what it covers. Many of these real estate seminars in Oklahoma City are simply used as avenues to sell more books and CDs while offering no real information.

Real estate seminars in Oklahoma City that offer exaggerated results and out of this world profits for a small investment are an outright scam. Legitimate seminars will focus on giving you step by step guidelines and solutions without making wild promises. Proper references will be provided, and speakers will be well known successful individuals in the real estate field.

Right now the Oklahoma City real estate market is the Tale of Two Markets.

We have simultaneously a Buyer’s Market and a Seller’s Market.

How can this be you might ask?  Well let’s take a look at the dynamics.

First we have the clock ticking on the first time home buyer tax credit.  For those of you that don’t know, it is an $8,000.00 Tax Credit for first time home buyers that purchase before December 1, 2009.  There are many Buyers looking to take advantage of this who have procrastinated and will now find themselves competing for these first time home buyers houses that are typically around $100,000.  As we close in on the end of the Tax Credit this market is going to start looking like the chaos surrounding a blue light special at K-Mart.  This all adds up to a Seller’s Market for the Move Up Buyer who is selling to the first time home buyer.

The typical Move Up Buyer will be purchasing a home between $150,000 and $300,000.  In this price range you can definitely hear the crickets chirping through the silence.   What does this mean?  Deep Discounts.  Lower listing prices.  And Sellers that are willing to take offers considerably less than the already discounted listing price.  In short a Buyer’s Market.

So, if you are a Move Up Buyer, you are Selling in a Seller’s Market and Buying in a Buyer’s Market.  It doesn’t get any better than this.  And if you think you are missing out on the Tax Credit you just aren’t doing the math.  Tax Credit = Seller’s Market on First Time Home Buyer houses.  Seller’s Market=Premium Price on the Move Up Buyers Sale.  Thus a percentage of the Tax Credit is being passed through to you.

Do the math and then go find that Dream Home that is only attainable in this unique set of circumstances. 

Here are some pictures to give you an idea of what kind of homes you will find in the Edgemere Park Neighborhood in Oklahoma City.  You can get a feel for the architectural style of the neighborhood.

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The number closed is sharply down indicating a slowing real estate market in Oklahoma City.  Often a sharp drop in the numbers sold will precede a corresponding sharp drop in prices.  Let’s hope this phenomena does not prove to be true in this case.

Total closed in January 2009 was 741 down ↓36.7 % from the 1170 closed in January 2008.

The average price was $146,837 down ↓5.9 % from the January 2008 price of $156,089.

The median price was $125,000 down ↓6.7% from the January 2008 price of $134,000.

The average Days On Market for November 2008 was 95 up from 92 in 2008.

 Based on information provided to and compiled by MLSGateway.com, Inc. covering a period 2008 through 2009MLSGateway.com, Inc. does not guarantee or is in any way responsible for its accuracy.

Find out How Much Your Home is worth Today!

From City of Oklahoma City News Release

Motorists can travel safely along city streets when icy weather strikes by taking one of the designated regional snow routes.  During snow and ice storms crews primarily concentrate on salting and plowing streets along the snow routes and keeping them drivable.

 Regional snow routes stretch from Norman to Edmond and Harrah to Mustang.  The regional snow route map as well as maps for all four quadrants of the metro area and downtown Oklahoma City are on the City’s Web site, www.okc.gov.  Citizens can also call the City’s Action Center at 297-2535 to request a map by mail.

From City of Oklahoma City News Release

While youngsters wait anxiously to count presents under the tree this Holiday Season, a count of a different feather will take place on Saturday, December 20 when the naturalists at Martin Park Nature Center host their annual winter songbird census.

 Bird and nature enthusiasts alike are invited to take part in the census, part of a nationwide study in collaboration with the Audubon Society’s “Christmas Bird Count.”   The census will begin at 9 a.m. when participants trek through the trails of Martin Park to count specific species of birds that overwinter in the park.

 The results of the count are submitted to the Audubon Society, which tracks the migratory patterns of early winter birds throughout North America.

 “We’re always excited to take part in this study,” said park naturalist Neil Garrison.  “The Christmas Bird Count provides naturalists and ornithologists with important data about bird populations, weather and climate change. The fact that it is an ongoing study means that we can track these changes annually, and see specifically how changes in climate affect the bird populations right here in central Oklahoma.”

 Participants in this year’s census may spy yellow-bellied sapsuckers, red-breasted nuthatches and brown creepers, in addition to some of the more common bird species that make Martin Park their winter home.

 “It wasn’t that long ago, maybe fifteen years, that house finches were a rare sighting in Oklahoma, even in winter,” said Garrison.  “Now we can see how migratory patterns have changed to such an extent that these birds now permanently roost in Oklahoma. This count helps us predict these kinds of patterns and see what changes the bird populations may make.”

 Participation in the songbird census is free, though registration is required.  For more information, call Martin Park Nature Center at 755-0676, or visit www.okc.gov/parks.  Martin Park Nature Center is located at 5000 West Memorial Road, ¼-mile east of MacArthur.  The park is operated by the Oklahoma City Parks and Recreation Department.