2012 Real Estate News

Buoyant about Boeing

Expert: Move bolsters OKC’s status as aerospace leader

Monday, January 9, 2012 6:00 am

by D. Ray Tuttle

Journal Record

OKLAHOMA CITY – Boeing Co.'s announcement to bring up to 900 jobs here from Wichita, Kan., and Seattle adds to the critical mass in the aerospace sector that the city is experiencing, various industry observers and experts said.

Boeing said on Wednesday that it would close its Wichita plant in two years and move 800 engineering and project management jobs to Oklahoma City. In addition, Boeing said it was moving another 100 jobs from the Pacific Northwest to Oklahoma City.

"I think if this comes to fruition, it would be very big for Oklahoma City," said Jeff Davis, a partner of Oklahoma City-based Acorn Growth Cos. "It would be another example of an aerospace and defense firm moving jobs here."

The announcement for Boeing is the second major move for the aerospace giant, as the company is committed to moving 550 jobs from Long Beach, Calif., Davis said.

"This announcement is evidence of the strides that Oklahoma City has made in recent years in how we are able to capitalize on the strength of the aerospace sector in Oklahoma City," he said.

Roy Williams, president and CEO of the Greater Oklahoma City Chamber, said the move is significant because of the economic impact the direct payroll would have on the city.

"These aviation and aerospace jobs are in engineering," Williams said. "These are well-paying positions."

Salaries for the Long Beach jobs pay in the neighborhood of $120,000 to $130,000 annually, Williams said.

If, for example, the latest jobs paid in the range of $100,000 annually, the payroll could be as much as $75 million in direct payroll, Williams said.

"But we just don't know," he said. "They have not given us salary ranges yet. We could be seeing those figures in a few weeks."

The addition of 900 jobs would push Boeing's total employment in Oklahoma City to 2,000, Williams said.

Information provided by The Oklahoma City Chamber of Commerce, more information at:

2010 Real Estate News

Family Circle Magazine has named Edmond, Oklahoma one of the top 10 Towns to live in

10 Best Towns for Families: 2010

In our yearly roundup of perfect places to raise kids, we salute these communities for their affordable homes, green spaces, blue-ribbon schools, and giving spirit.

Edmond, Oklahoma

Population: 82,530
Median Income: $69,759
Median Home Price: $177,000
Households with Children: 38%
Student/Teacher Ratio: 18:1
Great Schools Rating: 9

When Kristy Payne moved here from Southern California 16 years ago, it was mainly to be close to her older sister. "But once I arrived, it was love at first sight," she says. With abundant parks, miles of walking and jogging trails, and a lake teeming with bass and bluegill, this Oklahoma City suburb has plenty of scenic charm. That's no accident: Edmond offers free programs on preserving the environment, and sponsors an annual Arbor Day fair with seedling giveaways as well as arts and crafts for the kids. "Even Aaron, our 4-year-old, knows what it means to be green," says Kristy, 37, a real estate agent.

But what she and husband Randy, 41, a police officer and SWAT team member, appreciate most is Edmond's volunteer spirit. Their son Austin, 16, and daughter, Madison, 14, both pitch in at a nonprofit group that provides clothes and furniture to the needy. Kristy helps throw birthday parties for children living in shelters, and Randy takes part in the Shop with a Cop program, helping to solicit donations and then escorting underprivileged kids to Walmart so they can buy Christmas presents for themselves and their families. "There's a real need to give back among all the people here," says Kristy, who's also a foster mom to a 6-month-old girl. "Small-town life doesn't get any better than this."

More information on this article: http://www.familycircle.com/family-fun/money/10-best-towns-for-families-2010/

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Oklahoma's regional economy positioned to thrive

BY DON MECOY  
Published: January 8, 2010

The Great Plains states from North Dakota to Oklahoma have weathered the recession better than most, and are well placed to thrive as the nation’s economy recovers, the publisher of Forbes said Thursday in Oklahoma City.

Rich Karlgaard,Forbes publisher, author, blogger and entrepreneur, noted that Oklahoma City has the lowest unemployment rate among the nation’s large cities. The region’s relatively low cost of living and doing business, and the growing importance of the energy sector also should help boost Oklahoma in the coming years, Karlgaard said.

"You really have the wind in your sails right now, and it can get windy here, so that’s a good advantage,” he said.

Karlgaard writes Forbes’ "Digital Rules” column, and produces a daily blog at Forbes.com. He also co-founded two companies, Garage Technology Ventures in 1997, and Upside magazine in 1988, and one civic organization, the 5,500-member Churchill Club.

Karlgaard, who traveled extensively when researching his book "Life 2.0: How People Across America Are Transforming Their Lives by Finding the Where of Their Happiness,” said the character of people in different regions of the country varies widely.

"I don’t think it’s a coincidence that the Plains states are outperforming the rest of the country right now,” he said. "I think that Oklahoma City is in great shape going forward.”



Read more: http://www.newsok.com/regional-economy-positioned-to-thrive/article/3430557?custom_click=lead_story_title#ixzz0d7BhDyaP

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2009 Real Estate Market

*According to the figures based on the Keller Center for Research at Baylor Univeristy, 2008

8 out of 10 Economists believe home prices will rise in the next 5 years

If you are thinking of buying, there are many signs that point to favorable buying conditions; mortgages are available, affordability has improved, home choices are abundant and interest rates are low. Getting on the ground floor before prices begin to rise is a smart move.

 

Strong Oklahoma home values praised

BY RICHARD MIZE
Published: January 21, 2009

 

Oklahoma City and Tulsa remain among the nation’s Top 25 strongest housing markets despite the slowdown and recent price weakening, Forbes.com said this week.

It’s relatively good news when, as the business news Web site reported, "not one metro area will see prices increase before the end of this year.” Forbes projected home values to drop 1.1 percent in Tulsa and 2.8 percent in Oklahoma City this year.

It’s the second time in less than a year Forbes.com has spotlighted Oklahoma for economic strength. In May, Forbes called Oklahoma City the most "recession-proof” city in the country, based on its relatively sturdy housing and energy sectors.

"It’s a good dose of B-12 going into what I’m sure will be a very somber session of ... board meetings and seminars this week at the International Builders Show (in Las Vegas),” said Jeff Click, president of the Central Oklahoma Home Builders Association.

Judy Lindsay, president of the Oklahoma City Metro Association of Realtors, said Oklahoma City values won’t slump much because they didn’t boom much. "It also stands to reason that due to the economic conditions that have developed not only nationally, but internationally, even a market like ours will see some mild decreases in property values in 2009,” she said.

 

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2008 Market Info

If you purchased a home between APRIL 9, 2008 AND BEFORE JULY 1, 2009 YOU MAY BE ELIGIBLE FOR UP TO $7500 tax credit for first time homeowners..for more information visit the Federal Housing Authority Tax Credit link below:

http://www.federalhousingtaxcredit.com/ 

Sun February 17, 2008

State not following recession's path

By Don Mecoy
Business Writer

WHAT IF the national economy threw a recession, but Oklahoma decided not to attend? "We're not going to play along with the nation,” said Keith Geary, president of Capital West Securities in Oklahoma City. "For us here everything is going really well.”Two sectors that are slowing the national economy — housing and energy — are positives for the local economy. The average sales price of an existing home in Oklahoma rose last year by 4.24 percent while the number of foreclosures filed in the state declined nearly 13 percent. Meanwhile, about 39 percent of homes bought nationally last year are worth less than what the homeowners still owe, according to zillow.com. While local consumers are no happier with near-record gasoline prices than those who live elsewhere, Oklahomans pay among the lowest prices for fuel. And those high prices have fueled expansion in Oklahoma's robust energy sector, which produces jobs, higher wages and taxes for the state.

Economic forecast sunny with job growth

Mark C. Snead, director for the Center for Applied Economic Research at Oklahoma State University, forecast this month that the state's job growth could continue even through a national recession. His prediction was that a recession would, at worst, stall Oklahoma job growth only during the second and third quarters. "The insulation provided by a stable housing sector and high energy prices are expected to allow the state to enjoy very modest economic growth,” Snead wrote.

Will history repeat itself? 

For more information visit:

Sun February 17, 2008

State not following recession's path

By Don Mecoy
Business Writer

WHAT IF the national economy threw a recession, but Oklahoma decided not to attend? "We're not going to play along with the nation,” said Keith Geary, president of Capital West Securities in Oklahoma City. "For us here everything is going really well.”Two sectors that are slowing the national economy — housing and energy — are positives for the local economy. The average sales price of an existing home in Oklahoma rose last year by 4.24 percent while the number of foreclosures filed in the state declined nearly 13 percent. Meanwhile, about 39 percent of homes bought nationally last year are worth less than what the homeowners still owe, according to zillow.com. While local consumers are no happier with near-record gasoline prices than those who live elsewhere, Oklahomans pay among the lowest prices for fuel. And those high prices have fueled expansion in Oklahoma's robust energy sector, which produces jobs, higher wages and taxes for the state.

Economic forecast sunny with job growth

Mark C. Snead, director for the Center for Applied Economic Research at Oklahoma State University, forecast this month that the state's job growth could continue even through a national recession. His prediction was that a recession would, at worst, stall Oklahoma job growth only during the second and third quarters. "The insulation provided by a stable housing sector and high energy prices are expected to allow the state to enjoy very modest economic growth,” Snead wrote.

Will history repeat itself?

However, Robert Dauffenbach, associate dean for research at the University of Oklahoma's Michael F. Price College of Business, said Oklahoma's economy tends to follow the nation's in good times and bad. "My own research indicates that Oklahoma is fairly reliably impacted by national recessions,” Dauffenbach said. "The only period where we haven't had fairly close correspondence between what happens in Oklahoma and what happens nationally was in the late 1970s through about 1986 where we had the energy boom and bust. We did a whole lot better then a whole lot worse than the nation.” While soaring energy prices provide "insulation” from some national economic woes, Dauffenbach said, the state is not immune to economic cycles. "I generally don't buy the argument that swings in the national economy don't affect the state,” he said. "There are reasons to suspect that whatever recessionary dislocations occur will impact Oklahoma less than others.” On the positive side, Dauffenbach also isn't convinced that a national recession is inevitable. "I don't think we're in a recession yet. That doesn't mean one's not coming,” Dauffenbach said. "I'm seeing a lot of weakness, but I'm not seeing the dramatic drop-off that tends to result in recession.” The Fed's recent interest rate cuts were prompted more by investors than economic data, Dauffenbach believes. "Crying recession is one way in which Wall Street gets attention,” he said.

Regional differences

Sue Lynn Sasser, economics professor at the University of Oklahoma, said there often are marked differences in regional economic conditions across the nation. Sasser recalled that the Federal Reserve offered a lower discount rate in the Southwest during the 1980s when banks were closing at record rates. Some of that division showed up at an October meeting of the Federal Reserve's Open Market Committee. When the panel voted to lower its target rate by a quarter-point in October, the only dissenting vote came from Thomas Hoenig, who represents the heartland area including Oklahoma. "Recessions look at national averages,” Sasser said. "There can be pockets of the country that are still doing well.”

Jobs are available

For some local business people, this pocket is doing quite well. Paycom Chief Executive Officer Chad Richison said his Oklahoma City payroll company has been expanding so quickly that it has eased its previous requirements for a four-year college degree to increase the pool of potential employees. "If you're looking for a job, we're hiring. Dell laid off 200, and we're looking for those people,” Richison said. "Mortgage companies that had offices here (laid off workers). There have been other layoffs, and I'm paying people to go locate these people who were let go.” For Capital West's Geary, local optimism should outweigh national pessimism. "I think it's proper and appropriate to focus on Oklahoma,” he said. "We're doing better.”

 

For more information visit: http://whyrealtorswork.com/GoodThing/NewsOK1.html    

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