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March First ICG meeting
February 28th, 2008 8:43 AM
I look forward to seeing the ICG family this weekend. We are coming with some terrific deals, guaranteed rent, builder model home lease backs, and preconstruction. We have two new subdivisions that we are holding back on until the next meeting that are in Edmond and Deer Creek. We are also going to wait on our new commercial opportunities until next month. We have new homes starting at $125,000 with interest rate buy downs and 3 months guaranteed rent to start. We have sixteen condos leased in the East Village in Norman, and ready for sale as well as a great deal on the town homes in Phase One. Oklahoma should still be in your portfolio now more than ever. The U.S. Bureau of Housing Affairs released statistics that only three states last year did not have dips in the average price of a home and Oklahoma was one of them. Realty Trac not only showed Oklahoma down 15.4% in foreclosed property last year, they also showed that january 2008 was down 17.87% from January 2007. You can buy distressed property in areas like Florida and it may look like a good deal, but many states have not reached bottom yet and your values could still plunge. Government statistics are showing that in order to reach a decent affordability index many areas like Florida and Arizona need another 30% to 40% drops. Oklahoma is still slightly undervalued for its economic condition. Buy sage, buy predictable, buy cash flow, buy for the long term, buy Oklahoma.

Posted by Joe Pryor on February 28th, 2008 8:43 AMPost a Comment (0)

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