Bomasada Development (NOT) Going Forward

[Conan71]

I had the same situation trying to get tires at Hibdon at the south end of Tulsa Hills. There was a sidewalk in front of the tire place, but nowhere connecting it to the rest of the shopping center. Talk about an unpleasant walk up to Target to get some supplies and to Buffalo Wild Wings for lunch. No sidewalks. I either had to walk in some a field or the street. I chose the street. Drivers were not happy about that.

Oh, was that you I flipped off? 


JK 

[nathanm]

Side note: You were probably at Robertson tires if you were near Chiles. 

I'm not going to try to BS anyone by saying the area is pedestrian friendly.  You need to dig back to college and Road-Crossing 302 (More intense than 101)

You're right. I don't know where the confusion came from. :p Nice guys, anyway.

I have been known to practice batshitinsane crossing, but I've mellowed in my "old" age. 

[Red Arrow]

You're right. I don't know where the confusion came from. :p Nice guys, anyway.

I have been known to practice batshitinsane crossing, but I've mellowed in my "old" age. 

I've bought a few sets of tires at Robertson.  They got a good deal for my mom.  She had a tire get damaged beyond repair.  Michelin had discontinued that model and the remaining models were not really a good match.  I called Michelin, told them my concerns.  Robertson also talked with Michelin and we got an 80% credit on the 3 remaining tires with about 8000 to 10000 miles on them in order to have 4 matching tires.  I have put at least two sets of tires on my car.  Reasonable price (not rock bottom) but they treat me well and check the car over pretty good.


Street crossing:  I take a few less chances than I did 30 yrs ago too.

I looked for some crossing light boxes on the traffic light poles at 111th and Memorial tonight and saw none.  It might be better to get a hundred yards or so east or west on 111th where there would be fewer lanes to cross and a little less traffic since a lot of it goes into WalMart on the west or Starbucks and others on the east.

[YoungTulsan]

Is what is being put in within the price range of these young people or will they be driven to somewhere else?  Then they will advocate higher density at the new location and in turn be driven from there by new high priced housing.  Maybe.  I am actually asking since I don't know what incomes these young folks have. 

The money is there, because primarily young people living by themselves have pushed the going rate for a 1100 square foot postwar home for rent to above $1000/month in some cases.  You are lucky if these houses have been wired for 3-pronged plugs, and the kitchens are probably ancient.  Postwar construction means poor insulation, which means enormous heating bills in the winter.  These houses do fill the purpose just fine of a roof over your head and a place to live, but for $1000/month they are substandard.  Typical absentee landlordism puts the reinvestment into the home's upkeep at a minimum.

I've rented on Brookside, albeit not for a G, but that was a few years ago.  I see signs posted in front of huts with ridiculous rent demands, then the next day there is a U-haul out front.

[Red Arrow]

The money is there, because primarily young people living by themselves have pushed the going rate for a 1100 square foot postwar home for rent to above $1000/month in some cases.  You are lucky if these houses have been wired for 3-pronged plugs, and the kitchens are probably ancient.  Postwar construction means poor insulation, which means enormous heating bills in the winter.  These houses do fill the purpose just fine of a roof over your head and a place to live, but for $1000/month they are substandard.  Typical absentee landlordism puts the reinvestment into the home's upkeep at a minimum.

I've rented on Brookside, albeit not for a G, but that was a few years ago.  I see signs posted in front of huts with ridiculous rent demands, then the next day there is a U-haul out front.

I must have gotten into the wrong career.  Or, after paying that kind of rent, they have to have stuff nearby because they can't afford anything else.  I thought I heard some of the renovations of stuff downtown were approaching $2000/mo.  Maybe less.  I don't pay too much attention since I plan to stay where I am.

[nathanm]

I must have gotten into the wrong career.  Or, after paying that kind of rent, they have to have stuff nearby because they can't afford anything else.  I thought I heard some of the renovations of stuff downtown were approaching $2000/mo.  Maybe less.  I don't pay too much attention since I plan to stay where I am.

It's much easier to afford that kind of rent when the only mouth to feed is your own.

[cannon_fodder]

It's much easier to afford that kind of rent when the only mouth to feed is your own.

And when your still trying to impress women.   

Many young professionals make $40-50,000 a year.  The average housing cost is 33% of income in "urban" areas of the united states (mortgage companies use a 28% average).  So $1000 a month at $40K would be an "average" housing cost per month at 30%.   To live in the trendy part of town in many, if not most other areas, you'd be paying well above average.

So I'd have to say $1000 a month isn't too much to ask.  We're just used to rock bottom pricing on housing due to a glut "who cares where I live" living spaces.  Frankly, I'm starting to think our cheap real estate is a more of a detriment than an asset (no pressure for wages to rise, no need to use land wisely, no need to maintain properties or restore properties, sprawling parking lots, minimal infill or redevelopment).

[Red Arrow]

When you are single and renting, taxes are a BIG chunk of your income.  Throw in some money for a 401K or similar to provide for the retirement that Social Security may not provide.  Throw in the topic of the year, health care cost. Pretty soon that $1000 becomes significant and there will be little money left to impress women.  Now the credit card comes into play...... pay for it next month....or whenever.

Wages increasing due to high real estate prices is not a benefit in my mind.  Better land use and maintenance of existing property I will agree with.  I have no desire for Oklahoma to followthe California model of real estate.  Increasing property values only help when you move to a less affluent area.  Otherwise you just pay higher taxes and when you try to move to a better place, its price is up too.  I know there have been times when one could play the real estate market and win.  In my mind there is no real increase in value, just an increase in price.  It's one reason I have little sympathy for the people in the super overpriced housing markets losing their butts. If you just like to pay a lot for things, I have an 11 year old car I would be willing to part with for the price of a new one of better quality. (Old Buick for new BMW or Mercedes)

[Conan71]

On a semi-related note, I was talking to a realtor friend of mine last night about the new condos just south of The Consortium (or whatever they call the center with Cafe Ole and the Oliver's Twist FAIL).  She said 2000 sq. ft. units at about $500K apiece is what she thought they were sized at and bringing.  Still some vacancies- surprise.  Anyone else know if that's right?  I can't imagine who their demographic is, unless it's fairly well-off middle-age single or empty-nest professionals who want to be in the thick of things on Brookside.

[swake]

On a semi-related note, I was talking to a realtor friend of mine last night about the new condos just south of The Consortium (or whatever they call the center with Cafe Ole and the Oliver's Twist FAIL).  She said 2000 sq. ft. units at about $500K apiece is what she thought they were sized at and bringing.  Still some vacancies- surprise.  Anyone else know if that's right?  I can't imagine who their demographic is, unless it's fairly well-off middle-age single or empty-nest professionals who want to be in the thick of things on Brookside.

It is, I saw they were asking $550,000 and two weeks ago or so I saw people starting to move in. You can get an awfully nice classic Maple Ridge house less than a mile away for 550 (and less).

[YoungTulsan]

When you are single and renting, taxes are a BIG chunk of your income.  Throw in some money for a 401K or similar to provide for the retirement that Social Security may not provide.  Throw in the topic of the year, health care cost. Pretty soon that $1000 becomes significant and there will be little money left to impress women.  Now the credit card comes into play...... pay for it next month....or whenever

Hypothetically, someone could work for tips, and pay their landlord in cash.  Purely hypothetical situation of course.

[YoungTulsan]

Frankly, I'm starting to think our cheap real estate is a more of a detriment than an asset (no pressure for wages to rise, no need to use land wisely, no need to maintain properties or restore properties, sprawling parking lots, minimal infill or redevelopment).

I'm rather happy we didn't have a huge bubble in Tulsa.

[TheArtist]

It is, I saw they were asking $550,000 and two weeks ago or so I saw people starting to move in. You can get an awfully nice classic Maple Ridge house less than a mile away for 550 (and less).

Yea but you would have to mess with a yard and a lot more upkeep. A lot of people absolutely, abhore the idea of having a house and would rather die than live that kind of lifestyle. But very importanly, stylish, uber contemporary design just seems a bit out of place in a quaint little cottage unless you want to spend a lot of money, and work to gut it. They are selling a lifestyle and that doesnt just include living right in the middle of things, its a "look and feel" as well.  But I do think its still a little high for what your getting, though the trick is, its pretty much all you can get in Tulsa. 

[Red Arrow]

Real Estate is one of those areas where supply and demand generally works.  If you just have to have that: a) rent house, b)condo, c) 5000 sq ft mansion on the hill, apartment on the most stylish street in town ... then you will pay whatever it takes to get it.  Sometimes more than you are capable of paying/repaying.  If you own and need to sell when demand is low, you pay for your folly.  If you are lucky enough to buy low and sell high, good for you.  Don't expect me to willingly bail you out if you are on the bad part of the cycle, unless maybe you want to help me buy some more toys.

[nathanm]

Real Estate is one of those areas where supply and demand generally works.

Ironically, it's not any more than any other good. It works more like the economists saying, "oh, this 32 ounce bottle of ketchup costs twice what this 16 ounce bottle costs, so the market is rational." People compare the price of houses to each other, but usually fail to look at how they are valued relative to other goods. If that were not the case, the housing bubble would have been impossible.

I think the bailing out that should happen is whatever it takes to keep the foreclosures coming in at a slow enough rate to avoid financial armageddon for the entire country. If someone makes bad decisions and ends up not being able to keep their house, that's fine, but I don't like cutting off my nose to spite my face. We don't live in a vacuum; the overall economy and lending environment affects us greatly. If our employers can't get loans, they will cease operating, leaving us with no job and eventually no home. (Whether it goes to the bank or the tax man, the result is the same)