The New Construction Process: Explained

Does this sound familiar? You are driving around Edmond and looking for your dream home. You see a few houses that you like, but nothing that checks all of the boxes. Then you find the perfect new neighborhood. 

It’s in the right school district, has plenty of green space for your furry friends, there is a beautiful walking trail, clubhouse, gym and then the neighborhood pool starts calling your name! The only issue is that the lot you love doesn’t have a house on it! There is a builder sign, but you’re unsure about building. I mean, isn’t the process long, complicated, and fraught with headaches?

Well, do I have good news for you! The process is simpler than you might think, especially in a planned community. Oklahoma City is lucky to have builders in all price ranges that are fantastic to work with. And, if you are working with a Realtor to build a new home, we can help coordinate the process and keep your stress levels down. Wondering where to start when building your dream home? The process can be daunting, but let's break it down to a few simple steps. 

Generally, the new construction process will follow these five steps:

1. Choose a lot.

   There are a lot of things to consider when picking your lot. If building on raw land; slope, drainage, and utilities need to be considered. In a planned community, pay attention to traffic flow, noise, location to amenities, and home orientation if those are important to you. 

2. Select a floor plan.

   This is one of the most important things you will choose. You want to make sure that the space works for your needs! A few things you’ll want to consider are bedroom and bathroom count, single vs multi-level, open concept vs traditional layout, extra spaces like a bonus room, study, theater, etc. Some builders will have set floor plans to choose from, while custom builders can work with you to design a totally customized layout.  

3. Pick the upgrades.

   Some upgrades will almost always add a dollar value to your home, while other upgrades are just personal preferences. Additional usable square footage will almost always add value, while cosmetic upgrades like upgraded flooring or high end light fixtures may be personal preference items. 

4. Sign the contract.  

   Your Realtor will help navigate the contract terms and explain different options with your contract. Each builder will have their own contract terms and process to sign the contract. 

5. Watch your home come to life!

   Once you get under contract, the process can begin! Your builder will give you an estimated timeline on the construction process based on your individual home and lot. 

Whether you’re thinking of custom building or buying new, let us help guide you through the process.  We know and work with the best builders in Oklahoma City and Edmond and would be happy to introduce you to them. 

5 Tips to Make Your Cozy Home Feel Larger

If you have a cozy home, you know that it doesn’t take much to start to feel cramped. Living in a comfortable environment is important. And when you are looking to sell your home, a spacious feeling home becomes even more important! Buyers want to picture themselves in your home, and the last thing you want them thinking is that your home is too small for them. Do you love  your “cozy” home but want to make it feel less, well, cozy? This post is for you! Here are 5 ways to make your small house feel larger:

Less Furniture
Less is more when it comes to furniture. Choose several larger pieces over a bunch of smaller ones to make your space feel bigger and less cluttered. If you are in the process of selling, a good option could be to take some non essential furniture and place it in storage to free up some space. Think about moving out accent chairs, side tables, or coffee tables if the main living spaces feel tight.

Declutter

Speaking of clutter, declutter, declutter, declutter! Nothing kills a space like too many knick-knacks. Clear table tops and reduce items on shelves and bookcases. Open space = open feeling. Every. Single. Time. A staging professional can help you decide which items to leave for decor and which items to go ahead and pack up.

Paint Choices

Choose light paint colors. Use whites, grays, creams, and yellows on your walls, doors, and trim because of their ability to reflect light and brighten a room. If you are looking for an easy improvement that makes a big impact, freshening up the paint to a light neutral color is usually a good option!

Add Mirrors

Just like light paint colors, mirrors are magic at reflecting light. When planning your wall decor, make sure to use mirrors to expand a room’s feel.

Natural Light

When possible, ditch the window coverings. Open windows or ones with sheer coverings welcome natural light and expand your space to the outdoors. Prior to showings, open your blinds and curtains and let in as much light in as possible. Make sure all of your light bulbs are changed out and turn on any lamps that you have. An easy update to improve your natural light would be to replace your solid front door to one that has a few windows.

Have you mastered small home living? Share your best tip in the comments below with fellow “cozy home" owners!

5 Secrets When Selling Your Home

There is a lot of advice out there when it comes to selling your home. Most people probably start by asking themselves, “What do I need to do to sell my home?” Through the years, we’ve learned a few tricks to help sellers maximize their profit when selling their homes. It's pretty simple. It’s all about working with an agent that can advise you on the current state of the Oklahoma City market, staying calm under pressure, and using these five “secrets”:

Set the right price and do NOT overprice.

Overpricing is probably the single worst thing you can do! Less potential buyers see your listing when it’s new if it’s out of their price range. The buyers and their agents that do see your home will likely choose to spend their limited time and energy on other similar homes that are priced competitively. A competitive asking price will give more buyers the confidence to come see your home, fall in love and hopefully submit a strong offer! High quality photos and videography are everything.

In this area, most buyers will start their home search by looking up “house for sale in Oklahoma City.” Almost all buyers will see pictures of your home online before they see it in person. Professional photography will highlight the best features of your home! Buyers will decide if they want to see your home in person based on the pictures they see online. You want your home to make the very best first impressions! 

Declutter and depersonalize as much as possible.

When you are looking to buy a house, you are looking for somewhere you can picture yourself living. Decluttering will make your home appear more spacious and show off all of the possible storage space. Depersonalizing the home will make it easier for your  potential buyers to picture themselves living there. Neutral decor is best! If you have questions, you can always have a professional home stager come and give you some pointers! 

Spruce up your curb appeal for a great first impression.There’s never a second chance to make a great first impression! You want buyers to pull up to your house and get excited! Clean flower beds, a mowed yard, swept porch, and trimmed bushes will go a long way towards first impressions! A home that appears well maintained from the outside will give the buyer the confidence to assume the rest of the home is well maintained too.

Use strategic timing when you list your home on the MLS. We want to keep the days on market low!

Each market may have their own “best days” to list a home. In the Oklahoma City market, we like to list homes towards the end of the week. This allows plenty of time for weekend showings and open houses! We also try to not list on a holiday or during bad weather.  

Have you sold a house before? If so, did you use some of the tricks?

Let me know how I can help you reach your real estate goals this summer—that's why I'm here!

Oklahoma City Real Estate Market Data - June

Real Estate Market Data for Oklahoma City
June 2022:
Average Sales Price: $240,000
Median Days on Market: 4
Months of Inventory: 1.3
Average Sales/List Price Ratio: 100%

If you’ve googled “Is now a good time to sell my home?” or “Is now a good time to buy a home” you’ve probably heard some pretty scary stuff. The big news outlets will make you think that the Oklahoma City real estate market is crazy or maybe you’ve heard the market is crashing! What is actually happening in the market is a little less intense than you might expect.

Inventory is up from where we were at the bottom of the shortage when we had less than 0.6 months supply, but overall still low! *This varies by price point though! Higher price points naturally have a little more inventory because there are less buyers looking for these homes.

Well priced homes throughout the metro area are still selling quickly and close to list price. However, buyers are being more conservative with offer terms.

Sellers: Pricing your home competitively and having it in the best possible shape for showings is going to be important than ever as inventory continues to increase. When given options, buyers will choose the best priced comparable home that fulfills their needs.

Buyers: You may notice more options to choose from! Many builders are offering closing cost assistance and other incentives to help move inventory. You still need to act fast if you see your dream house, but it may not be as difficult to get a home as you might think!

Are you thinking about buying a new home, selling your house or even purchasing an investment property this year? Let's chat and figure out what the best strategy would be for you!!

Looking to Buy BRRR Property?

If you have been in the real estate investing space for any amount of time, you’ve probably heard about BRRR investing. We are lucky that the Oklahoma City market still has solid options for buyers that would like to put in some work and capture a some equity on their investments. Is it easy? No! But it can definitely be done!

So what is a BRRR property? In a nutshell, it’s a distressed property that you buy, renovate, rent out and then refinance to capture that new equity.

Think of it like a flip, except in the end instead of selling the property you keep it and rent it out.

Here are a few common questions we get about the BRRR process:

• Can I work with a Realtor or real estate agent with a BRRR deal?

  Yes! We can help with all aspects of your BRRR transaction from bringing you the deal, helping with sales/rental comps, coordinating inspections/closings and referring you to fantastic contractors and property managers.

• How do I know what work will need to be done?

  We recommend having a professional home inspector complete an inspection prior to closing. They will give you an idea of any significant issues that will need to be addressed. We can work with you and your contractor to help you make renovation decisions to maximize your return.

• Can you refer me to a contractor or banker?
  Absolutely! We have contractor recommendations that specialize in investment properties. We also have multiple banks and mortgage brokers that have fantastic options for investors on both the purchase and the refinance side of things.

• Do you have a hard money lender or bank that will lend on the purchase?

  Of course! There are several local banks and hard money lenders that can loan based on appraised value or after repair value rather than traditional 20% down payment options that are common for investment properties.
  
  I’m in! What do I need to do to get more information on these types of deals?
  Comment on this post or email us at ax.cassi.justiz@gmail.com