Real Estate Opportunities in Oklahoma City

September 3rd, 2010

There are many reasons to move to Oklahoma City, Oklahoma. Oklahoma City has the excitement of being the capital of the state of Oklahoma but yet can give you the hometown feel family members crave on some of their quieter residential streets. The city has so much to offer visitors and residents including political events, downtown activities including those of the Bricktown Entertainment district and the Myriad Botanical Gardens located in downtown Oklahoma City.

General Facts:

It is the 36th largest city in the U.S. with an estimated population in 2006 of 1,172,339. In 1993 the city passed a redevelopment package called: Metropolitan Area Projects which includes a baseball park, central library, a canal to the Bricktown entertainment district and renovations to the civic center, the convention center and the fairgrounds. The “Core-to-Shore project creates a connection between the core of the city and the shores of the Oklahoma River.

When deciding on whether or not to purchase real estate in Oklahoma City it is important to look at all the areas of interest including: Weather, schools and hospitals, sports and entertainment, demographic information including median price of housing.

Weather:

Oklahoma City weather has an average annual temperature of about 60 degrees with an average rainfall of 33.36″ and an average snowfall of 9.1″ per year and also the skies are usually clear.

Population and Education:

Oklahoma City is the 29th largest metropolitan city in the U.S. with 635,000-employed individuals. The Median age in years of a resident of Oklahoma City is 34.1 with 403,138 households and an average of 2.52 persons per household. The median household income is $32,286. Education is valued in Oklahoma City with 28% having a high school diploma or technical school certificate and 27% having a college degree or higher.

Schools:

Oklahoma has a mix of public schools, private and parochial schools, colleges and universities and also Oklahoma city Technology Centers.

Sports and Entertainment:

Oklahoma City has everything for family entertainment including – museums, liberated arts center, children’s theatre, music hall, International gymnastics Hall of Fame, Martin Park Nature Center, National Cowboy Hall of Fame and the National Softball Hall of Fame, the city zoo, the Oklahoma Opry, parks and recreation department, the Philharmonic Orchestra, and White Water bay.

In the minor leagues Oklahoma City has the RedHawks a AAA affiliate of the Texas Rangers, Yard Dawgz of the Oklahoma City Lightning, of the National Women’s football Association, City Blazers of the Central Hockey League.

The New Orleans Hornets of the National Basketball Association temporarily relocated to the Ford Center during the 2005-2006 and 2006-2007 seasons.

When considering a real estate decision, cost of housing, location, education, job opportunity and entertainment are all major items to discuss. Oklahoma City has all your major points of interest in a big city style without forgetting about the hometown residential needs of those who seek those comforts.

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Oklahoma City Hotels

June 2nd, 2010

Oklahoma City hotels offer a variety of accommodation options (budget as well as luxury hotels) that enable leisure and business travelers on various budgets to have a great time at the vibrant OKC. Being a city brimming with tourists and residents young and old, Oklahoma City has a variety of destinations for them including the Bricktown entertainment neighborhood to which these hotels offer shuttle services.

The Bricktown Canal and entertainment district in downtown Oklahoma City are at the heart of Oklahoma City’s entertainment options. The Bricktown entertainment district gives tourists a peep into the cultural heart of the city, provides great dining and shopping options, hosts sporting events at venues such as the AT&T Bricktown Ballpark, shows blockbuster movies at theaters such as the Harkins Theaters and has a vibrant nightlife. The Bricktown Canal is an important waterway in the entertainment district, through which ply water taxis that offer an educational tour and connect all the major entertainment destinations of Bricktown. The Oklahoma City National Memorial and the Ford Center Arena are the other attractions of Oklahoma City. Oklahoma City hotels ensure you are able to visit all the destinations you desire, as apart from offering shuttle services, the hotels are located strategically close to all these major attractions.

Great luxury ideas are offered by Oklahoma City hotels. They are equipped with amenities such as fitness center, spa, conference room, ballroom, cafeteria, restaurant, VIP suites, and offer complimentary airport shuttle services. After a day of hectic traveling, the creature comforts of Oklahoma City hotels and the hospitality of their staff offer the perfect relaxation, enabling you to unwind and look forward to another day of sightseeing.

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Oklahoma City Tourism

May 15th, 2010

Oklahoma City tourism is big business. It’s a city that just can’t run dry. Along with the attractions of the Bricktown entertainment district, Oklahoma City offers myriad tourist attractions for the hardcore vacationer (whether on a budget or not) or the casual sightseer. The city has parks, botanical and zoological gardens, lakes, convention centers, movie theaters, restaurants, malls, museums, and other attractions.

The Myriad Botanical Gardens located downtown at Reno and Robinson are some of the most beautiful gardens you can come across. Visitors can find typical northeast Oklahoma landscape, a sunken lake featuring native Oklahoma fish and Japanese koi, the Adventure Trail that winds beneath a 35-foot waterfall feet and up a mountain covered with vines, clear streams, gardens planted in surreal landscapes, and the Crystal Bridge Tropical Conservatory featuring unique animal species such as butterflies, lizards, and plants from all over the world.

One of the great “hang out” destinations in Oklahoma City is the Bricktown Canal. This manmade canal flows through the Bricktown entertainment district and has shops and restaurants lined up along the banks. The canal connects all the important Bricktown destinations including the AT&T Bricktown Ballpark. One of the main attractions of the canal is the Water Taxi service utilizing long flat-bottomed boats painted in a distinctive yellow and green color scheme.

The National Cowboy and Western Heritage Museum commemorates the heritage of the American West. It features photographs, sculptures, paintings and artifacts dealing with the Old West. Visitors can find a frontier soldier gallery, rodeo gallery and cowboy gallery, as well as a life-size reproduction of a frontier town.

The rest of the innumerable attractions that make up Oklahoma City tourism include the Oklahoma City Museum of Art, Oklahoma City National Memorial, Science Museum Oklahoma, Cox Convention Center, Civic Center Music Hall, White Water Bay water theme park, Frontier City amusement park, and many more. Malls here include the Penn Square Mall, Quail Springs Mall, Crossroads Mall, and Northpark Mall. The Bricktown historic and entertainment district is also home to great restaurants.

Oklahoma City tourism prospects are wonderful considering all that this place has to offer. The great hotels of Oklahoma City provide convenient shuttle services to all the important Oklahoma City tourist destinations.

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Oklahoma City Real Estate | Busting the Midwest Real Estate Bubble

April 21st, 2010

Despite a gloomy economy and a stumbling real estate market, Oklahoma City remains a viable market with strong buyers and sellers working together to rejuvenate the economy. If you are in the market for a real estate investment, Oklahoma City is a prime location to find some of the countryÕs best deals.

Oklahoma City is located near the center of the state of Oklahoma and serves as the stateÕs capital and the seat of Oklahoma County. The city covers 621 square miles, making it one of the largest cities in land area in the United States, according to the official Oklahoma City website. The city has a population of 558,000 people.

Energy forms an important piece of the economy, both of the city and of Oklahoma state, with oil reserves first discovered in the area in 1928. ÒOklahoma remains an energy state and the heavy concentration of oil and gas activity in the metro area will provide a boost to area job and income growth as long as energy prices remain high enough to encourage local firms to expand their operations,Ó according to the 2008 Oklahoma Economic Outlook report by Mark C. Snead of Oklahoma State UniversityÕs William S. Spears School of Business. Because of this, the rising oil costs that are bringing other regions to their knees may actually be helping counties in the state of Oklahoma.

ÒThe Oklahoma City region is outperforming the state for much the same reason that the state is outperforming the nationÑenergy,Ó according to Snead. ÒThe greatest income gains in the metro area have occurred in Oklahoma County and have propelled the county among the ranks of the top ten nationally in terms of income growth in recent data releases.Ó

The city boasts a low median housing cost of $134,900, according to Zillow.com, and 87 percent of Oklahoma City homes are occupied, leaving the area with a 13 percent vacancy rate. Of occupied homes, 38 percent are rental units with the remainder being owner-occupied. A property owner in Oklahoma City should expect to pay approximately $1,104 per month for property-related expenses and mortgage payments, while owners without a mortgage will pay approximately $373 on average, according to 2006 U.S. Census data. Median gross rent was $570 per month as of 2005, according to census data.

Oklahoma CityÕs overall economy may bode well for investors. Although job growth in the area was down in 2007 from previous years, it still exceeded the national average growth rate for the year. The Oklahoma City Metropolitan Statistical Area (MSA) experienced a job growth rate of 1.7 percent for 2007, a drop from a rate of 2.2 percent in 2005. The United States averaged a growth rate of 1.3 percent for 2007. Oklahoma City is expected to add 6,800 jobs in 2008 and 9,400 jobs in 2009, according to Snead.

And, despite the difficulties befalling housing markets around the world, Ò[t]he Oklahoma City construction market has hardly noticed the national building slowdown and should remain strong through 2009. While some housing-related hiring weakness is expected in the financial services sectors, the metro area will primarily be impacted by the national housing slowdown in an indirect manner through marginally slower U.S. economic growth,Ó according to Snead. He also wrote that homeowners can expect home values in the Oklahoma City MSA to increase by 2 to 4 percent through 2009.

So there you have it, Oklahoma City remains a diamond in the rough. It is a perfect time to consider this pristine Midwest city is the place to invest your next real estate dollars.

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