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Edmond, OK

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Edmond Oklahoma’s Book-Smart Students

11-26-08
Gordon Wynn
Gordon Wynn: Real Estate Agent in Oklahoma City, OK
  • view my blog
  • Office: (405) 330-2626
  • Mobile: (405) 203-3963

Education in Edmond, Oklahoma excelsAnyone looking to relocate to a great community with awesome schools can count on Edmond , Oklahoma . Students in Edmond are smart and love to read. The principal of Deer Creek Elementary recently had to pay-up on a challenge she offered her students. Mrs. Straughn challenged her students to read 6,000 books. She called the challenge "Cruise into a Good Book."

The students of Deer Creek Elementary not only read 6,000 books, they went far and above that mark reading over 12,500 books. So, to pay-up on the challenge, Mrs. Straughn had to pack for a cruise in 1 minute, scuba dive in a kiddy pool and dance with a ship captain.

The challenge lasted for three weeks. The first week the students blew teachers away by reading over 4,500 books. The second week students read over 3,700 books, and over 4,200 in the last week.

Mrs. Straughn actually went scuba diving in a kiddy pool that was set up in the school's gym. From the looks of it, the kids really got into the challenge. This is Mrs. Straughn's fourth consecutive year winning the state's Reading Challenge contest. Deer Creek student's even donated six suitcases filled to the top with books to a local women's shelter.

The goal of the Reading Challenge in to instill the love of reading in children at a young age. After thirteen years of the challenge, it still shows today in Edmond 's students.

Edmond, Oklahoma Real Estate

Edmond, Oklahoma Schools

Gordon Wynn

Edmond Homes For Sale

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Why I am Bullish on Oklahoma Real Estate

11-20-08
Joe Pryor
Joe Pryor: Real Estate Agent in Oklahoma City, OK
  • view my blog
  • Office: (405) 359-8729
  • Mobile: (405) 590-2135
  • Secondary: (405) 800-7629

It sounds a little crazy to say you are bullish on real estate anywhere in the United States. The stock market is continuing to go down, the American auto industry is on the brink, and the foreclosure rate is still continuing to rise. America is in for a hard fight to get out of this recession, but improvements could be coming next year. Obama looks like he is bringing in the best and the brightest, Detroit will get their money but with reforming strings attached, and public works spending will help employment. Oklahoma is not following the downward trend of much of the country, and I would like to show some sunshine peaking through the dark clouds. Here are my reasons to be bullish.

Gas Prices

Gas in Oklahoma has gone down in Oklahoma from $4 a gallon to $1.70. It is estimated that in short order nationally this will result in A $225 Billion dollar savings. this is the equivalent to a massive tax cut. With more money in peoples pockets there is more money to spend. Some of it will go into savings but that is good to. If financial institutions get your business, they have that money to loan. This is bigger that the stimulus package that Bush initiated.

Interest Rates

Rates dropped today on the ten year note to 3.01%. One week ago it rose to 3.93%. Let's use a $160K home mortgage and see the effects of lower rates. If we take this loan and lower the fixed rate to 5.75% from 6.5%, we lower our payment around $77 per month. Using the cost per thousand of a 30 year mortgage of $6 then that is the equivalent of approximately $12,800. That means that I just got a discount of $12,800, or because of the lower interest rates, I now have $12,800 in buying power. We all go by the monthly PITI payment, so that is the economic value of lower rates.

Inventory and Foreclosures

Oklahoma City still shows a sellers market below $200K overall. Edmond, Oklahoma, the most affluent suburb shows 6 months of inventory on the market from $150K to 200K, and 3 months inventory below $150K. This is a condition for prices rising. A discount in an over inventoried market doesn't help you becasue that with foreclosures will put tremendous pressure downward on pricing. You want a market that is rising to protect your largest investment. On foreclosures, Oklahoma City has only 6% of all listed homes as foreclosed property on the market. In areas of Arizona, Florida, California, and Nevada, it has run as high as 65%. In those markets the scary thought is that you don't know what the bottom is. Chances are in may be 2010 or 2011 before the bad inventory works itself out of the system.

Oklahoma Economics

The larger Oklahoma cities like Oklahoma City is sitting on 3.7% unemployment which is dramatically below the national average. Federal government statistics show that Oklahoma is leading the country in the rise of the average and median price, and the economy is stable and not dependent on manufacturing like the Rust Belt and Midwest. Plus, having strong industries in energy and agriculture creates strength. Although prices are down on energy most Oklahomans are grateful. Can you imagine the current U.S. economy with high gas prices. The prices will rise again, but hopefully when we have recovered, and Oklahoma will benefit greatly. The push for 25% biofuels by 2025 will create 160,000 jobs and billions of dollars in revenue. Oklahoma is growing and if you look to a long term purchase you want the economic prospects to be bright. The time to buy is now. To get set up on an auto-email notification of property listings in real time, go to www.homesearchbyemail.com, fill in the information with your guidelines, and we will get you started.

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Moving? Find a Job in Edmond

11-20-08
Gordon Wynn
Gordon Wynn: Real Estate Agent in Oklahoma City, OK
  • view my blog
  • Office: (405) 330-2626
  • Mobile: (405) 203-3963

Many people around the country will be looking to relocate to a different city and seeking a different lifestyle. If you are in that category, let me introduce you to Edmond , Oklahoma . It is a great city to work, live and play. Edmond has a strong economy, top schools, it's close to Oklahoma City , and the City has several job openings. Working for the City of Edmond also has great benefits.

Edmond's Job Openings:Job openings in Edmond, Oklahoma

Clerical -

Parks & Recreation

Utility Customer Services

Emergency Services -

Police

Dispatch

Maintenance -

Water Plant

Electric

Meter Services

Downtown Community Center

Facility Maintenance

Field Services

Professional & Technical -

Urban Forestry

Parks and Recreation

Solid Waste

Public Works Administration

Engineering

Seasonal -

Kickingbird Golf Club (several openings)

Benefits Include:

· Health Insurance - PPO plan

· Life Insurance

· Wellness Program

· Overtime Pay

· Holiday Pay

· Personal Leave Accruals

· Sick Leave

· Pension and Supplementary Pension Plans

· Longevity Bonus

· Regular Salary Reviews

· Tuition Reimbursement

· Employee Development and Training Programs

· Section 125 Cafeteria Plan

· Direct Deposit Pay

For anyone interested in any of the listed job opportunities, you can pick up an Application at the Edmond Human Resources Office at 100 E. First, Room 106. You can also download the Application online by visiting Edmond 's Employment Opportunities (will be link), then just mail it to: City of Edmond Human Resources , PO Box 2970 , Edmond , OK 73083 .

I hope this information will help you land a job in Edmond when you're ready to buy a home here.

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Oklahoma City is doing well but is not immune

11-17-08
Joe Pryor
Joe Pryor: Real Estate Agent in Oklahoma City, OK
  • view my blog
  • Office: (405) 359-8729
  • Mobile: (405) 590-2135
  • Secondary: (405) 800-7629

Looking at statistics for Oklahoma City home sales and the surrounding suburbs there is much to be happy about. Homes below $150,000 still show a strong buyers market. In Edmond, under that price range shows a 2.86 month absorption rate and up to $200,000 is still below the six months neutral absorption rate. Rents are up for my clients this year about 10%. With that rental price to home value you can make a case for a 15% increase without exceeding the national average rent to purchase price. There are certainly pockets of overbuilt new homes, especially if you have above 3000 square feet in distant areas from schools and businesses. Carl Tiemann of First Mortgage reports that their firm had one of their best October's ever, so in popular and affordable areas people are buying and credit exist. But the key to good health and a great to avoid the flu is to get a flu shot. Oklahoma City housing needs the equivalent of a flu shot to insure that we can continue our steady growth that has led the nation in the rise of the average price of a home.

First, Oklahoma as a state needs to put money into the electrical infrastructure to not only delivers more wind power to our major cities, but also to be able to export it like out natural gas and agriculture industries. Secondly, we need as a city to invest in light rail. Gas prices cannot stay down for long and the cities like Houston, Seattle and Phoenix for instance are connecting their cities taking pressure off traffic, and allowing people to reduce their expenses. Bu doing that, people can spend more on consumer goods that help create employment. We also need more name brand higher quality stores that have an appeal as amenities to businesses. When I leave Houston after my cancer treatment is over, the one thing I will miss is going to Whole Foods and Central Market. It takes us at least four supermarkets in Oklahoma City to do what we can do at Whole Foods and still at a lower quality. This will require that we change our sadly outdated liquor laws to allow wine and strong beer to be sold outside of liquor stores. It wouldn't hurt to have better retail stores also. I know that Houston is a bigger and more culturally diverse, but when you go to The Galleria and surrounding areas you can shop for name brands that are known world wide. We have made a great recovery due to being the state capital, the resurgence of the energy and agriculture industries, the expansion of Tinker Air Force Base, and the brilliant leadership of David Boren who is leading the creation of what will be one of the top cancer centers in the U.S. As a native Oklahoman it is time to take pride in being elite, and having our economy reflect that.

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Real Eststae Investment-Cash Flow or Flip?

11-15-08
Joe Pryor
Joe Pryor: Real Estate Agent in Oklahoma City, OK
  • view my blog
  • Office: (405) 359-8729
  • Mobile: (405) 590-2135
  • Secondary: (405) 800-7629

I feel fortunate to live in Oklahoma at this perilous time. Oklahoma leads the nation in the rise of the average and median price of homes increasing. Oklahoma City home listings are only at 6% foreclosure or short sale where other areas of the country are over 50%. Unemployment has dropped to 3.5% which means it is at a level of full employment since 3.5% is the number of the hard core unemployed. The state has positive cash flow on virtually everything property you but at 20% down, so you can expect I am naturally biased toward positive cash flow versus flip. Let me give you an example. In the 1990's I flipped 20 properties at an average of $12,000 profit which was at a time Oklahoma was still suffering. However, the average price was $50,000 fixed up. It's hard to argue with $240,000 profit, but also remember capital gains where at 25% or you paid normal taxes at that time when you sold. Had I help the properties, the average value now would be $140,000. That is $1.8 million in equity, plus I would have positive cash flow of around $96,000 per year, and the depreciation would be greater than the income! Yes, sometimes I do consider myself an idiot. I did invest much of the money made in other investments so it wasn't a total loss, but let me break down an example of how you build wealth conservatively though real estate where you can buy 20 properties and not pay taxes.

Here is how it works. First it always helps to buy undervalue. Starting with equity is great, especially if you are in an area like Florida that has a good chance of losing that equity in the next few years. Pay attention to inventory levels. If the average time it takes to sell the existing inventory which is called absorption rate is measured in years, then you have a declining market. Miami Florida has a ten year inventory so watch out. A $150K property in Oklahoma City has a 2.85 month absorption rate which means a bias toward appreciation. Not only that we are half the property tax rate of Texas, and more than half less the insurance of Florida. If you put 20% down you have positive income. For instance if it is $200 per month you don't pay taxes. This is because the house less the land is depreciated over 27.5 years. Lets say the $150K home has an improvement value of $135K then the monthly depreciation is larger than the cash flow. it also helps to buy in places like Oklahoma and Texas because unlike the coast, land values are low therefore your depreciation is greater. Even if the appreciation is only 4% per year, after five years you have enough equity to buy two properties with the sale of one, because you bought under value in an appreciating state unaffected by the sub-prime meltdown. And you won't pay taxes on the sale because of a special government sponsored program.

It is called a 1031 tax deferred exchange. The government allow you to defer taxes if you invest all your equity and buy for more than the sale of your home. Now you have two sources off tax deferred income. Then 5 years later you could have 4 sources of tax deferred income, and depending on your age you can keep going. In other words, after an initial investment in one home, you can buy more over time without another penny. Of course you will have maintenance so there are cost, but buying right can put you in the black even with yearly expenses. If this works for you then you may want to buy more with extra money. The point is to create new sources of revenue that is not subject to the greed of Wall Street or incompetence of the government. Plus you have a tangible investment of bricks and mortar that has a long history of being able to access real value. Now that we have passed through the insanity of the recent real estate bubble, let's get back to the fundamentals of long term investments based on solid principles.

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