OKC Real Estate Market

[Just the facts]

But Pete. I take genuine joy in my yard looking like I don't give a hoot. And I live in a very expensive house. And I can afford to maintain it.

But you can't put a price on my joy.

It is not really a political thing, or an environmental thing. I just kind of think putting time and energy and water into a yard in Oklahoma's climate is dumb.

Zeroscape and plant native vegetation. Or if you want the do it once and forget approach put in artificial grass.

https://youtu.be/zAQvAUc-dLU

[Martin]

^
for those wanting to look it up, i think you mean 'xeriscape.'

[Celebrator]

But Pete. I take genuine joy in my yard looking like I don't give a hoot. And I live in a very expensive house. And I can afford to maintain it.

But you can't put a price on my joy.

It is not really a political thing, or an environmental thing. I just kind of think putting time and energy and water into a yard in Oklahoma's climate is dumb.

Hope you don't have neighbors near you.

[Just the facts]

^
for those wanting to look it up, i think you mean 'xeriscape.'

Yes I did mean xeriscape, although zeroscape is an option as well.

[wsucougz]

For whatever reason that area between Classen and Western consistently has some of the worst foundation problems I've ever seen.

It's funny we are talking about this because yesterday, I just drove by a flip house I had considered when I first moved back.

It was a pretty little bungalow that had been remodeled but I could tell it was out of level and that the outside paint had just been slapped on over the badly pealing coat underneath. It ended up quickly selling so I never made an offer.

When I went by yesterday, it was a complete disaster. I should have taken a photo. They had all types of heavy machinery out there and the fence wasn't just down but completely gone -- maybe the foundation had finally given out? But even the cosmetics -- including the paint -- looked horrible. Now that I think about it, they may be planning to tear it down and rebuild as is happening all around (this is on 41st between Classen & Western).

This was the sales photo from about 5 years ago and now the entire place is in shambles. I looked it up and found the property recently sold for significantly less than what had been paid right after the remodel, so something must have gone catastrophically wrong... Beware of the flip house!

[Just the facts]

I can't tell you how many homes the wife and I looked at which were remodeled and the floor wasn't leveled first. All the remodeling in the world is 100% waste if they don't level the floor and shore up the foundation. I asked one flipper why he didn't level the floor and he said that would have taken his entire budget. Feel sorry for whomever bought that house.

Not every flipper is Chip and Joanna Gaines.

[BDK]

Not to re-derail this thread, but if anyone has any landscaper recommendations for one of the homeowners likely complained about up-thread, I would appreciate recommendations. (Penn Square Mall area. Private messages are fine.) My lawn guy is flaky and seems to only want to cut grass.

[jccouger]

There are so many cleared pieces of land in far NW OKC close to Portland Ave I couldn’t even think of them all. If they all get built imminently I’m interested to know what that would do to the housing market.

[okatty]

There is a new addition going in off NW 150th, back west of Portland - Edgecreek. Lots start at $300k and the higher end lots along the creek ($400+) are all sold.

[OKCRealtor]

There is a new addition going in off NW 150th, back west of Portland - Edgecreek. Lots start at $300k and the higher end lots along the creek ($400+) are all sold.

Between that and the Annecy just west of Macarthur off 150th some really nice high end developments that aren't Gaillardia.

[rizzo]

Between that and the Annecy just west of Macarthur off 150th some really nice high end developments that aren't Gaillardia.

There is another neighborhood going on the east side of Macarthur about 1/4 mile N of 150th. I think this one is starting in the $300's. Echo Park

[OKCRealtor]

There is another neighborhood going on the east side of Macarthur about 1/4 mile N of 150th. I think this one is starting in the $300's. Echo Park

Yea that's been in the works for awhile but progress has been very slow.. Timbercraft is the developer/builder. I think starting in the 400's now.

[m.williams]

I can't tell you how many homes the wife and I looked at which were remodeled and the floor wasn't leveled first. All the remodeling in the world is 100% waste if they don't level the floor and shore up the foundation. I asked one flipper why he didn't level the floor and he said that would have taken his entire budget. Feel sorry for whomever bought that house.

Not every flipper is Chip and Joanna Gaines.

So I have been following this forum for years and recently decided to join and post. I renovate old houses in this neighborhood and the reason you see so many foundation issues in this neighborhood is because of the Murrah building bombing. The explosion shifted all of these old homes and causes damage to most of them. I 100% agree with the fact that there are several other house flippers who do not do a good job fixing major issues and simply put lipstick on it and try to resell it for top dollar. On the other hand, there are a lot of guys like me who put a lot into these properties to make them quality homes that should last another 100 years.

However, some of these old houses will NEVER be totally level. I just redid a foundation on a house in this neighborhood and spent nearly 15k on foundation work. I put in new beams and replaced several joists. The house is 100% architecturally stable and solid but at the end of the day the house is still not completely level (although it is much closer than it was when I started). This is because wood stiffens over time as it loses its moisture and there isn't a lot of flexibility in the joists and walls. these pieces often do not move together when lifted, and you run the risk of pieces breaking if lifted too much. The unlevel floors can be mitigated to some extent with floor levelers and shims after lifting the foundation, but having a slightly unlevel floor It is just a part of owning an old home and not always an indicator that the house has foundation issues.

My recommendation is to ask to see any reports from foundation repairs completed before purchasing and if they can't provide any then get an inspection done before closing. just my two cents in case anyone on here is interested in buying one of these older homes.

[Bits_Of_Real_Panther]

Intersection of NW 10th & Classen - noticed for sale signs on West side.theres a decent sized lot on the SW part if the Intersection.

I wonder what would be a good addition, pretty good location

[king183]

Intersection of NW 10th & Classen - noticed for sale signs on West side.theres a decent sized lot on the SW part if the Intersection.

I wonder what would be a good addition, pretty good location

That area has been for sale for quite a while. If I recall correctly, there have been at least two plans to develop it within the last 10 years that have fallen through for one reason or another.

Relatedly, there are a lot of properties along the west side of Classen that are for sale. If a developer acquired all of those, they could do something really cool with that section of Classen.

[Pete]

The same out-of-state owner owns all the property along the west side of Classen on either side of 10th.

There was to be senior housing on the north side of 10th but that fell through.

They've owned all that for over a decade now and don't seem very motivated to sell.

[Bill Robertson]

What's the average time on market now? I only judge by houses I see on my routes around town. But for awhile a for sale sign went up and the house sold almost immediately. I'm seeing some now that have signs for a few weeks.

[gjl]

I had a relative recently sell a house on NW26th st just west of Taft Stadium. Realtor originally priced the house at 270K It took 4 months to sell and just sold for 205K. It was a nice house and not a dump. It was on the market for 4 months. About every month they dropped the asking price. I realize that in anecdotal and just one of many houses for sale. Back in 11/2020 the house next door to me sold in 2 weeks. It was a 1300 sq ft house brick 3 bed 2 bath on 1/2 acre lot and sold for 155K.

[DowntownMan]

What's the average time on market now? I only judge by houses I see on my routes around town. But for awhile a for sale sign went up and the house sold almost immediately. I'm seeing some now that have signs for a few weeks.

Deer creek under 300k selling immediately. Nothing has changed except maybe there is even less coming available for sale which is creating the fast sell when they do become available. There have been 5-6 in my neighborhood sell in days over last 3 months.

[OKCRealtor]

Median days on the market in April trended down to just 12 from 18 in March. Sub 300k properties are still selling very quickly with a lot of multiple offers.

[jackirons]

I had a relative recently sell a house on NW26th st just west of Taft Stadium. Realtor originally priced the house at 270K It took 4 months to sell and just sold for 205K. It was a nice house and not a dump. It was on the market for 4 months. About every month they dropped the asking price. I realize that in anecdotal and just one of many houses for sale. Back in 11/2020 the house next door to me sold in 2 weeks. It was a 1300 sq ft house brick 3 bed 2 bath on 1/2 acre lot and sold for 155K.

I think that might be about location (unless it was a small house). I've seen several houses in Cleveland (just east) sell in the $260k - $350k range.
-$294k: https://www.zillow.com/homedetails/2...21865567_zpid/
-$260k: https://www.zillow.com/homedetails/2...21864614_zpid/
-$335k: https://www.zillow.com/homedetails/2...21865560_zpid/

[gjl]

I think that might be about location (unless it was a small house). I've seen several houses in Cleveland (just east) sell in the $260k - $350k range.
-$294k: https://www.zillow.com/homedetails/2...21865567_zpid/
-$260k: https://www.zillow.com/homedetails/2...21864614_zpid/
-$335k: https://www.zillow.com/homedetails/2...21865560_zpid/

A bit similar to the first one you listed but about 200 sq ft bigger.

https://www.zillow.com/homedetails/3...1865233_zpid/?

[jackirons]

A bit similar to the first one you listed but about 200 sq ft bigger.

https://www.zillow.com/homedetails/3...1865233_zpid/?

I am surprised that didn't sell for more!

[gjl]

I am surprised that didn't sell for more!

Well it's not like they didn't try for 4 months.

[ChrisHayes]

While so many other housing markets across the country (mostly west and south of here) are crashing, OKC is staying resilient. Just like the last housing crash.