Home Buying in Oklahoma City>Question Details

Evrlearnin, Home Buyer in USA, Mobile, AL

What's the market like in NW Oklahoma City? Is it safe to buy a new house here?

Asked by Evrlearnin, USA, Mobile, AL Thu Jul 3, 2008

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The question was specifically asking about the market in NW Oklahoma City. Not the entire market. Although, the greater Oklahoma City market is percieved as "recession proof" and beyond the influence of the current down-trend in the national market, I think the relatively new NW Oklahoma City market does have some specific characteristics which still make it a safe bet to buy there.
- Some of the housing neighborhoods are in the Edmond school system and therefore will be desired property.
- The new expansion of businesses and the "new model" for American shopping of large chain store surrounded a central mall area will continue for at least the next decade to be an area of growth and there will be no real marked decline in this area for the coming future. Personally, I think another model of "downtown shopping and business" is coming back and if Oklahoma City planners have thier way, the downtown area housing values will drastically increase over the next two decades.
- The new housing developments (particularly golf course living) are not cutting corners and the new developments continue to be well designed, planned, and executed place to live.
- Where I do foresee negative growth are areas between downtown areas and new surbuban-countryside development. In other words, the late 70-80's neighboorhoods which have no proximity to either new business and shopping, planned revitalization areas, or downtown (within 10 min walk)
0 votes Thank Flag Link Wed Sep 10, 2008
I certainly agree too.Oklahoma Department of Commerce says the following: "Forbes Magazine recently ranked Oklahoma City as the most recession proof city in the United States. The magazine cited Oklahoma City's falling unemployment, one of the country's strongest housing markets, and solid growth in manufacturing, energy, and agriculture." Futher adding : "Cost Of Living - Give Yourself A Raise
In Oklahoma, our low costs mean you can increase your standard of living substantially. Our low costs mean more for your dollar, more out of life. "Oklahoma has the fourth lowest total tax burden in the nation. When combining federal, state and local taxes, Oklahoma ranks #47, making ours a very affordable state in which to live and do business. "Combine that low tax burden with the ACCRA Cost of Living Index--released quarterly--and cities across Oklahoma represent some of the least expensive places to live in the country."
0 votes Thank Flag Link Thu Jul 24, 2008
I think of Oklahoma as the turtle......slow and steady wins the race...... We haven't had a huge housing bubble like the rest of the country. Steady upward movement. Check out the "Good thing you're in Oklahoma" video on our website!
0 votes Thank Flag Link Sat Jul 19, 2008
As Heidi mentioned above, the Central Oklahoma market is still moving upward. I've posted the most recent sales statistics on my blog so you can decide for yourself how positive or negative our market is. You'll see that our inventory levels are beginning to drop again, which means we'll see a gradual shift back to a sellers market before long. IMO, now is a great time for home buyers to take advantage. Hope this helps.
0 votes Thank Flag Link Thu Jul 10, 2008
Our Oklahoma City market is doing very well we have been saved from much of the country's turmoil. The mortgage fallout has made us much more concious of pre-approval but other than that we have a large inventory and have enjoyed a steady market.
0 votes Thank Flag Link Thu Jul 3, 2008
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