Oklahoma City, Oklahoma Oklahoma City, the best kept secret by gyq81223

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									 Oklahoma City, Oklahoma

By: Greg Peterson
REALTOR, Residential Sales & Leasing
Dean Lemons & Associates

Oklahoma City, the best kept secret in a turbulent real estate market! 2007 existing
home sales in the Oklahoma City (OKC) metro area are up slightly
over 2006 so far. The average home price continues to increase and
currently sits at $155,367, while the median price is fairly steady at
$129,900. While we typically have about a 6 month supply of homes,
buyers and sellers are both feeling satisfied with local market
conditions. This compares well with the national average of a 10
month supply of homes; our average house sells in about 80 days. All
of this great news is due to a below average cost of living, creating
high value for less cost - a homebuyer's dream!

Rising mortgage and interest rates in the past couple of years have caused the recent
slowdown in the housing market. Nevertheless, we are outperforming many larger
cities where homes are losing value, and the OKC market is at the very least consistent
in its affordability compared to others. The fact that Oklahoma City is expanding is
basically due to the growth in our downtown and the gains in various business sectors;
this figures to help the local real estate market. That leads many economic experts to
believe that Oklahoma City's housing market is fairly healthy.

In addition to all this great real estate news, we have enough variety to be almost
overwhelming. This is one of the few places in the Nation where you can choose to live
in the country, settle in the suburbs, or enjoy the fast pace of the city center, all while
still being within 20 minutes of any interesting place OKC has to offer. In addition to
hosting the state capital, with all the associated civic attractions, we have a huge Fine
Arts following, several museums and halls of fame, a large zoo, AAA baseball, arena
football, and soon (hopefully) an NBA franchise. There's NO shortage of things to do in
and around Oklahoma City!

The business and job market are also thriving; our largest employers are OK state
government, Tinker Air Force Base (AFB), and the US Postal Service. Forbes just rated
Oklahoma City the 10th best job market in the U.S. Dell has recently announced that
they are planning on five new buildings added to the existing two, and will have a sales
and service center equal to the size of Austin and Nashville. Tinker AFB, which
includes the largest air material base in the world, also announced it will be adding as
many as 16,000 new jobs in the next ten years. This adds to their current 28,000-strong
workforce.

Supporting this growing job market and solid real estate environment is a group of top-
rated schools at all levels. Area school systems are winning awards and gaining
national attention with their initiatives and all important results. We have a serious
charter school program and our high schools continue to excel. A prime example is the
Oklahoma School of Science and Mathematics (OSSM); this is one of America's
premier math and science high schools. In the fourteen years since OSSM has been
open, the school has produced 225 National Merit Scholars, and students have been
offered more than $55 million in scholarships. Higher education opportunities also
abound-- with 15 colleges and universities and two community colleges in the metro
area alone. The community is clearly committed to higher education, with more than
100,000 students enrolled in these programs. These include the University of
Oklahoma (OU), ranked among the nation's top 10 percent of universities in the Fiske
Guide to Colleges. OU is the nation's number one school for national merit scholars,
and it's in the top five for graduation of Rhodes scholars. Others include the University
of Central Oklahoma, Oklahoma City University (one of the nation's top liberal arts
schools), Oklahoma City Community College, Rose State College and the University of
Oklahoma Health Sciences Center. Also convenient to OKC is Oklahoma State
University in Stillwater.

When we decided to retire from the Air Force in 2007, my wife and I settled in the OKC
metro area specifically because of the great entertainment variety available, the solid
job opportunities, and the stable real estate market. This area may be one of the US
Military's best kept assignment secrets when it comes to family quality of life. If you're
given the choice, come to Oklahoma City!

Greg Peterson
REALTOR, Residential Sales & Leasing
Dean Lemons & Associates
My website: www.OKCHomeStore.com
My firm's website: www.DeanLemons.com
My email: greg@okchomestore.com
Office phone: 1.888.944.3326
My cell phone: 405.227.4272

								
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