Edmond, OK

Communities - North Rose Lake Villas

North Rose Lake Villas is located just north of the Rose Creek golf course and close to Quail Springs Mall. The addition is located in the Deer Creek school district. This neighborhood will be a gated, private community within easy reach of North Oklahoma City and Edmond and has good access to major expressways.

This neighborhood has two primary builders, D.R. Horton and Sooner Tradition. We represent Sooner Traditions. The quality of a Sooner Traditions Home is unequaled. They currently have three properties either turn key or just two weeks away from completion. All three are priced under $98 per square foot.

Standard Features include:

•1. Ceramic tiled entry, kitchen, baths, and utility

•2. Master bath showers and garden tubs (tiled not inserts)

•3. Hand textured walls

•4. Bull nose Sheetrock corners

•5. Kenmore appliances package

•6. Space saver microwave

•7. Granite counter-tops in kitchen

•8. Marble counter-tops in baths

•9. Maple Cabinets

•10. Read garden door w/blind insert

•11. Security system with 1 key pad

•12. Wisbro-Aquapex plumbing system (with a 25 year warranty)

•13. Pre-wired for 5 phones and cable

•14. Brick and siding exteriors

•15. Brink mailbox

•16. Stone Address

•17. Full sod in front and backyards

•18. Custom front doors with leaded glass

17725 Spacious Sky Court Edmond Oklahoma 73012 $159900 (1700 sq ft MOL)

17609 Pond Walk Court Edmond Oklahoma 73012 $159900 (1632 sq ft MOL) 3 car garage

17613 Pond Walk Court Edmond Oklahoma 73012 $159900 (1632 sq ft MOL) 3 car garage

Prices and Standard Features are subject to change without notice

Winter holidays are a time when everyone comes together for celebrating, giving and helping others. This holiday season Edmond , Oklahoma will have many wonderful events for residents and visitors to enjoy. So bundle up and go have some fun.

· Now - 31^st - 2^nd Annual First Lights: Come to the First Baptist Church at 33^rd & Bryant for a nightly lighting ceremony. Starts at 6:00pm each evening. Free for all.

· December 18^th - 20^th - Merry Memories: The UCO Music Theatre will be performing their annual jazzy holiday revue that will feature the tunes of yuletides past and present. Songs will be performed by UCO's Searle Pop/Jazz Quartet. A perfect way to kick off your holidays. Price is $12 and program begins at 8pm each evening at the UCO Jazz Lab.

· December 21^st - Horseshoe Road with Kyle Dillingham & Brad Benge: Come to the UCO Jazz Lab for great food and beverages at 7:00pm. $10 to enter.

· December 26^th - The Dennis Borycki Trio: The UCO Jazz Lab will present traditional and contemporary Jazz with food and beverages. Doors open at 7:00pm. $7 to enter.

· December 27^th - The Michael Summers Band: UCO Jazz Lab will feature the Michael Summers and Band at 7:00pm. $7 to enter.

· December 31^st - January 4^th - US Team Roping Superbowl II: Come enjoy the entertainment of live cowboy roping at the Lazy E Arena. Call 405-282-7433 for time and ticket information.

· December 31^st - Shortt Dogg New Year's Eve Party: The perfect place to bring in the New Year with Blues and Soul tunes at the UCO Jazz Lab. Admission is $50, which includes an all you can eat Pizza Bar. Doors and dance floor open at 7:30pm.

Don't let the holiday season pass you by without enjoying some of these great festivities.

Edmond, Oklahoma Real Estate

More Oklahoma Communities

Edmond, Oklahoma Realtor® Gordon Wynn

For most of the late 1990s up to 2006 I was one of the primary trainers for our company of about ninety agents and its four offices. My main focus was post-licensed sales training. It was my job to turn newbie agents who had just gotten their real estate license into successful profitable Realtors. When I moved out of management and back to sales about six months ago I feared I would experience a lag. You know that rather uncomfortable time when you have NO income. But I didn't. Here's the reason why. I practiced what I preached.

My first day back in the trenches, I sat down at my new non-manager desk and had more than a slight panic attack. It wasn't because I was afraid I couldn't do it anymore. Here's the real kicker, I found myself fearing that I wouldn't be a "super star" and therefore would appear as a failure to all those people I had trained over the years. That was a new one for me. Fear of loosing face. My panic attack lasted a full five minutes before I figured out the answer. "Practice what you've preached!" I pulled out my newbie training manual and started with step one, goal setting. By the end of that first day I had my plan. So it was simple starting day two, I would worked my plan. It worked! I had two properties under contract and had listed three others in less than a month. That let me know that what I had been preaching all those years was really the right stuff, which brings me to the reason for my article today.

Ever heard the quote, "Sing like no body is listening, love like you've never been hurt and dance like no body is watching"? As Realtors we need to add another phrase. "Work like it's always a down market!"

As we draw towards the end of the year, it's time to do two things. First, take a cold hard look back on 2008 and evaluate how well we did. Did we meet, exceed or fall short of our goals for the year. Always evaluate your year even if you know you didn't come anywhere near achieving your goals. "It is what it is!" You need to know where you stand. Next set your goals for next year. Sound simple? Well, it really is. Here are a few pointers on setting your goals for 2009.

•1. Write them down. (Ever heard that before?)

•2. Keep them simple.

•3. Make them measurable. (So you can evaluate them.)

•4. Make them realistic.

•5. They should include money. (But not be solely about money. Most of us are deeper than that.)

•6. They should include family.

•7. They should include fun/vacation.

•8. They should include spiritual.

It really is quite simple to do. This year since we are in a declining market, I'm taking my goal setting to a whole new level. My partner and I have been working on this for the last month. Money is one of the most important factors in our goals. It enables us to give our families the lifestyle we want for them and for ourselves. So this year we are looking at a whole lot more than just numbers of units and GCI (Gross Commission Income). We are evaluating everything about our company to make sure we are positioned to make the maximum amount of profit in a slowing or down market.

So where do you begin? Start the same old way, with that number of units. Based on 3% of the average sales price in your market, how many units (closed sides) do you have to sell to make your desired income? Now remember when calculating this figure you have to take into account your split, any franchise fee you have to pay, any desk /office fees you have to pay and any other expenses incurred in a transaction that affects your bottom line.

Here's my new twist! Are there ways to make more money with less closed units? The term "declining market" indicates that in 2009 you will not have as many transactions. So you need to figure out ways to generate more money per closed unit.

The first way of course is the one that comes to everyone's mind, a better commission split. It certainly is nice to get a higher split but you need to look at the whole picture. What do you get for the money you pay into your broker besides their omnipotent wisdom? Many brokers offer their agents extra services at little to no additional fees. You really need to take this into account. Realize that over and above your split there are many things that affect you bottom line that you should give careful consideration.

For example, if you have a 6-10% franchise fee then that affects your bottom line, ask yourself, "What does my current franchise offer me?" Is it worth up to 10% of my income? If I changed companies, would I get up to a 10% raise on every transaction just because there was little to no franchise fee? (That's more than most cost of living raises given by major corporations.) So if the answer is yes, then you might need to consider a change. Look at every aspect of a transaction and apply that same formula and ask yourself that same question. Write your results down so you have something so that you have something to compare. I have a great formula for doing this. Let me know if you want it.

Is listing and selling real estate your only income stream within the company you currently work for? Many companies have additional ways agents can earn income. Some real estate companies have their own mortgage companies and all their agents can work for their broker's mortgage company. They earn additional money from the financing side. Ours does and it's really nice to get an extra dollar in a transaction. Some companies offer sponsoring (recruiting) bonuses. Most are pretty worthless but some give you the chance to make as much as 10% of the gross commission income per transaction on every agent you sponsor into the company. (Example $300K sale-$9000 GCI = $900 sponsoring bonus) That's a really great aside for those months your own pipeline runs dry. Some companies offer profit sharing but you've got to be really careful because in a down market there are NO PROFITS to share.

Does your company offer a retirement plan? For most real estate agents, when they make their last sale they've earned their last dollar. Frankly, I don't want it to end so abruptly.

Does your company offer a full time in-house closer at little to no cost to you? This can be huge. Using automation (Google docs and Google calendars) along with an in-house closer, you can focus on what you do best, Listing, Selling, Mortgages, and Sponsoring. For my partner and me it saves the cost of a personal assistant. (That's pretty huge too!) If you are going to do some serious numbers you can not do all the paper work yourself. Remember the old adage "Never busy the quarterback passing out the Gatorade."

You are the star of your own business! That really means you wear two hats. As Realtors, we tend to love to wear the star hat but not so much when it comes to the businessman's hat. That's why I urge you to sit down now and wear the businessman's hat for about a day. Then as a well informed businessman with a plan you can focus on keeping your star performer happy. I know it's kind of split personality approach but it minimized the time you have to spend being the businessman and maximizes your time as "the star". (Star = Fun)

Interview with other companies! Yeah I said it! It's good for your soul. Find out what the market has to offer. When I said this to an associate of mine, she said with a taken aback gasp, "But I love our broker!" My answer was, "I do too! But I love my family more and their welfare is more important!" I also told her that not only should she shop around but before her interviews, make sure our broker knew she was going to interview and tell him why. That way you don't have to sneak around. When I interview a company I want to walk in the front door and say "Hi" to everyone I know. I'm not the backdoor kind of guy. If that company makes me an offer I can't refuse then so be it. If not then I'm well in formed. Nothing wrong with that!

I know what I do for my company because I set my goals for the year and then I go back and evaluate them at the end of each year. I also know what my company is doing for me currently for the very same reasons; I set and evaluated my goals. With my new next level approach, I now know what the other companies in my market place can do and are willing to do for me.

Only as an informed agent can you ever ask your broker for more than just a commission split raise. Guess what? Most of them are much more practiced at saying "NO" than you are at asking. Can your current company do more for you or better yet are they wiling to do more for you?

After checking it out and talking (negotiating) with my broker, I know, my partner and I are sitting pretty for 2009. Are you? "Ask not what you can do for your company in these down times. (You should already know.) But instead ask what your company is doing for you." How's that for a spin on JFK!

The English cottage gatehouse with its massive wrought iron secured gates marks the entry to Stonemill. When you pass through the distinctive and beautiful old world gates you will be transported to a private world steeped in quiet rustic charm. Winding tree covered streets, old-world street lighting and a large nature park with lakes and trails are among the many reasons you will seldom want to leave home. The fortunate residents of Stonemill experience an unmatched lifestyle - all of the convenience of urban living surrounded by the beauty and tranquility of a native time honored woods, home to birds and wildlife. Parks & trails dot the landscape of the gentle rolling hills. Stonemill is a development of unparalleled quality by national award winging developer David T. Yost.

The builders are limited to only a few of Edmond and Oklahoma City's top home builders. Names like Mark Dale of Carriage Homes, Matt Wilson, Roger Fite, and Vigil Onan of Carillon Homes. Many of the homes were designed by Brent Gibson. These are all names synonymous with luxury home building in the Edmond and Oklahoma City real estate markets. The covenants require a minimum of 3400 square feet of livable floor space but most are between 4500 to 7500 square feet. Currently there appears to be seven custom homes under construction, two existing homes listed for sale and one spec home under construction and listed for sale. There have been eleven homes close in Stonemill since January 1, 2008.

One of the best real estate investments I believe anyone can make is purchasing a model home from a builder with a guaranteed lease back. Model homes are designed to give the builder the ability to sell custom homes, and the spec homes under construction. The builder typically will be upgrades in the home to create the best impression, and they are kept in immaculate condition because first impressions do matter. The builder wants to sell the home to an investor and pay rent for two basic reasons. First, banks do not loan much for the construction of model homes and they are kept for at least two years typically, so this ties up the builders line of credit and cash. Second, the builder can write off the full amount of rent off taxes. Another good reason is that at the end of the builders need to have it as a model home he doesn't have to worry about selling the home, it is already sold. Let's look at an available example.

2801 NW 172nd, Edmond, OK 73013

This is a split level home with 4 bedrooms, 2 baths, and a 3 car garage downstairs, and a bonus room upstairs that can be a media room or a 5th bedroom. The home is 2288SF (Plans), is fully fenced, sodded and landscaped, sprinkler system, and is in a gated community called Rosewood which has a neighborhood pool and park. Inside is Stainless steel appliances, has 2 inch blinds throughout, maple cabinets, and granite tops in the kitchen and bathrooms. The purchase price would be $219,000. The lease would run for one year with option to renew for one more year at $1800 per month.

General Area

Edmond, Oklahoma has the highest household income and adult education level of any city in Oklahoma. The city government is a model for all other cities in Oklahoma in providing amenities to its residents, and running a budget surplus. Edmond spends more money on parks, soccer fields, recreation facilities, and events and festivals than any Oklahoma town. One of the two school systems in the Edmond area is Deer Creek, where the home is located, and Deer Creek is yearly rated as either the No. 1 or 2 school system in the state.

Advantages to the Investor

Tpically when in investor buys a property it is not rented. This means that their may be vacancy which affects the rate of return, and the typical property management fee is 87.5% of the first months rent, and 8% per month management fee. In a model home you not only get your first months rent with the closing packet, you also pay no upfront fee or monthly fee which enhances your bottom line. Often on model homes upgrades come at no extra charge. Even though the home is open usually six days a week, their is much less wear and tear because of the limited open house hours, and the builder is responsible for any upkeep, and is expected to deliver the house in excellent condition at the end of the lease. In this particular example, it also happens to be one of the lowest priced homes in the neighborhood which means you are surrounded by more expensive homes.

The Bottom Line

Using 20% down and an interest rate of 6.75% which can vary, the expected monthly cash flow would be above $350 per month over your total payment. The internal rate of return which is the return you get as long as the investment stays in the property can be calculated for you. We can send you the excel spread sheet based on the amount of time you expect to hold the property. We will also factor in a conservative appreciation for the holding period because Oklahoma is still appreciating. I have blogged before about how the federal Government statistics has Oklahoma as the No. 1 state for the rise of median and average price in the first half of 2008, and Forbes called us the most recession prooof city. Out stable housing market will really enhance your return because Oklahoma had no bubble pricing to burst. In fact we are still considered undervalued by national standards. For more information and a spread sheet, please email me at joe@joepryor,com and we will send it to you. This house is ready at this writing.