Fascinating demand and prices for single family homes in Guymon, OK

[dlundblad]

Seems cheaper than where I’m standing.

 

[BHopkins]

I remember when you used to live in Heber Valley. Yes, the price of housing in Northern Utah, and all along I-15, is totally out of control. I don't know how people can afford to buy a first home here, or come from a more affordable part of the country, such as the Mid-West.

I wasn't sure how housing prices are in some of the more remote parts of the state, such as Moab. As far as the outdoors is concerned, Moab is definitely a piece of heaven on earth. Especially if you are a local, and know many of the beautiful places to go, that are away from the tourists.

 

[skyactiv]

My wife's parents are near retiring, still live in NYC but bought a Margaritaville home near Hilton Head, SC.
I'm not sure I'd like that lifestyle myself.

​

 

[GON]

My wife's parents are near retiring, still live in NYC but bought a Margaritaville home near Hilton Head, SC.
I'm not sure I'd like that lifestyle myself.

​

Skyactiv,

Are you sure- we saw a picture of you and someone under the sheets in that Holiday Inn Express......

 

[Passport1]

Check out the MLS on BITOG Island. The lifestyle is relaxed and retiree friendly. Traffic is nil, neighbors are friendly and nobody ever has hurt feelings. No HOA fees and you can work on your vehicle in your driveway. Air strip, always near a boat ramp, good fishing and lots of pistol ranges. Nobody pays taxes there either.

Close your eyes and imagine you are there.

 

[CKN]

Have you considered Moab, UT?

There is a critical housing shortage there.....

 

[RhondaHonda]

@GON - what was your price range for when you retire? Have you looked other places in Colorado outside of the Denver metro area?

 

[GON]

@GON - what was your price range for when you retire? Have you looked other places in Colorado outside of the Denver metro area?

Rh,

Hope you are sitting down. We would like to be at 300k, which is now unlikely but a few years ago not out of reach. We budgeted 125k to update any home we buy, as my wife has been in rental homes many times, and wants the inside to her wants. I support her fully in this. We can go up into the 700s, but prefer not to go that high.



Our kids out grown, so public school system not a issue. Safety is important to my Wife, so a area that supports law enforcement is important. Finally, my wife has a deep fear of spiders. Beats me, but it is what it is.

And for a final challenge, she wants the location to be her idea. She has not had a vote in where we have lived for many years. She wants to vote and vote big on this home.

The challenges.....

 

[AZjeff]

If you bought a 300k property in many places today it wouldn't be hard to spend $125k just to bring it up to a nice standard much less something above average. We spent some time last month in the Fort Collins/Windsor/Loveland Co area and liked it. Property prices similar to here. BTW, have you looked at the Prescott, Az area?

Are you ready to buy if the predicted real estate correction happens?

 

[GON]

If you bought a 300k property in many places today it wouldn't be hard to spend $125k just to bring it up to a nice standard much less something above average. We spent some time last month in the Fort Collins/Windsor/Loveland Co area and liked it. Property prices similar to here. BTW, have you looked at the Prescott, Az area?

Are you ready to buy if the predicted real estate correction happens?

AZJ,

I think my wife will spend 125k in interior revisions, not necessarily updates, regardless if they are needed. She wants white kitchen cabinets and quartz countertops in the kitchen. Things like that. I don't get it, but it is important to her, so I support it. She doesn't ask for much of anything, so as all I want is the home to be clean and safe and bright, she also wants nice.... I will do what it takes to make that happen.

I have been tracking real-estate prices very closely and not sure a correction is enroute. A correction would greatly benefit us, and we are prepared to buy immediately for the right match at a great price, but not sure it is going to happen. Yesterday I saw an example of a "correction". A new construction single family track home in Park City, UT reduced 150k, from 1,250,000 to 1,125,000. The house is no big deal, I would value the home at 450k. Not a single special thing about this home, squeezed into a tiny lot. If the home was waterfront, I can get the special value. Or even close to a ski lift, maybe even close to downtown Park City. It is none of those things. I am seeing prices reduced from super, duper bloated prices down to super bloated prices. And the houses are selling. I am somewhat aware of a very stagnate market in places like Montana, and even Dallas in the early 1990s. That may come again, where days on the market rise huge.

And the biggest thing I can't figure out, and I suspect many on BITOG some can, is the value of the USD and inflation. If the USD is being devalued by let's say 50 percent, should not home values rise 50 percent? I know inflation makes home buying less desirable, so the correlation is not in synch. But is the basic theory that as inflation rises due to free printing of the USD, asset prices should rise accordingly? And home values may not be rising, but home prices are due to the devaluing of the USD?

Finally, we didn't see the change in law and order in the USA, where citizens are often not safe in places that were typically safe for decades. How does that impact the housing markets in places still considered safe? Is there an unspoken migration of people with buying power from places no longer considered safe to places considered safe?

 

[97K15004WD]

...And the biggest thing I can't figure out, and I am many on BITOG some can, is the value of the USD and inflation. If the USD is being devalued by let's say 50 percent, should not home values rise 50 percent? I know inflation makes home buying less desirable, so the correlation is not in synch. But is the basic theory that as inflation rises due to free printing of the USD, asset prices should rise accordingly? And home values may not be rising, but home prices are due to the devaluing of the USD?...

Best answer is to review the mid 70's to the early 80's. Housing prices did increase with inflation, but due to multiple factors at once. Higher inflation dampened home buying and building in my area, so equilibrium was met by a decrease in supply to match the decrease in demand. Once that equaled out, prices stabilized at about 25% higher on average (depending on the local school district).

So many factors come into play with home pricing. School districts seem to be the biggest in my area.

 

[97K15004WD]

Best answer is to review the mid 70's to the early 80's. Housing prices did increase with inflation - but due to multiple factors at once. Higher inflation dampened home buying and building in my area, so equilibrium was met by a decrease in supply to match the decrease in demand. Once that equaled out, prices stabilized at about 25% higher on average (depending on the local school district).

So many factors come into play with home pricing. School districts seem to be the biggest in my area.

 

[Hillbilly Deluxe]

We lived in Midway UT in 2018. We rented a wonderful home that the owner was unable to sell at $750,000. When we moved to South Carolina in 2021, the home went back on the market, and sold for $1,500,000. From no buyers at $750k to 1.5 million sale in under three years. I am not sure what changed, but a major muscle movement upward in Utah single family home prices.

It's called the mass evacuation from California to wherever Californians haven't ruined yet.

They are invading the whole country, but very clearly steering clear of states that mimic California....I wonder why? I live in an area that is being invaded with them and the locals are EXTREMELY VOCAL, in their faces, about how these new residents from the west coast need to act in early November every 2 years..... I'll leave it at that.

 

[BMWTurboDzl]

As my Wife and I continue our search for a retirement location, Guyman, OK came up on my Wife's radar. Guyman is within a day's drive to Denver (grandkids), and has a church my Wife thinks she would like. I agreed to take a look.

I was not expecting the prices to be so high in Guyman, OK. And even more, of all the searches for real estate I have done, Guymon has the highest percentages of homes under contract/ contingent. My guess, and a wild one, Guymon may offer people that want to stay near the Colorado/ New Mexico border and alternative to the taxes and such that Colorado, and especially New Mexico can have.

https://www.realtor.com/realestateandhomes-search/Guymon_OK

Who has to live in Denver?

 

[Dave Hess]

Guymon, Oklahoma is kind of far from a major city, I would not buy a house there.

 

[GON]

Who has to live in Denver?

Our Grandkids live just south of Denver. And my Wife wants to see them (as do I) as often as possible. My Wife is not fond of driving over 250 miles a day. When we lived in SLC, we were 500 miles from Denver. My Wife would insist on spending the night in Rawlins, WY, 250 miles from both Denver and SLC. I ended up flying her and driving myself at times.........

 

[BMWTurboDzl]

Our Grandkids live just south of Denver. And my Wife wants to see them (as do I) as often as possible. My Wife is not fond of driving over 250 miles a day. When we lived in SLC, we were 500 miles from Denver. My Wife would insist on spending the night in Rawlins, WY, 250 miles from both Denver and SLC. I ended up flying her and driving myself at times.........

I get that but your grandkids don't care where they live. What's the anchor to Denver? Whose Job? Other parents? How old are the grandkids? How often do you visit them? As the kids get older and involved in extracurricular activities do you think you'll visit them more or less often?

Is Denver is a long term solution to whomever is currently living there?

Do you guys need access to competent and affordable healthcare? Are you going to get that living in BFE rural whatever place?

 

[GON]

Best answer is to review the mid 70's to the early 80's. Housing prices did increase with inflation, but due to multiple factors at once. Higher inflation dampened home buying and building in my area, so equilibrium was met by a decrease in supply to match the decrease in demand. Once that equaled out, prices stabilized at about 25% higher on average (depending on the local school district).

So many factors come into play with home pricing. School districts seem to be the biggest in my area.

97K,

Thanks for the suggestion to study home prices in the late 1970s/ early 1980s at a time of high inflation. As you noted, the home prices did not appear to fall.

 

[Yah-Tah-Hey]

We looked and looked in detail at Cheyenne.

Daughter, SIL, and grandkids live a bit south of Denver in Castle Rock. I am hoping at all costs of not driving through I25/ downtown Denver if I can avoid it. While my Daughter was building her house, she lived in Windsor, about 40 miles north of Denver. Cheyenne might have worked if she remained in Windsor.

I wish my Daughter would move far from Denver. That would possibly solve so many issues with us finding a place to live that we are finacially comfortable with; and not get killed financially on the visits. The airline tickets for my Grandon's birthday next month for two of us, are $900. We can get a lower fare, but not at a time that matches with my work schedule. Add in the cost of parking at SEA, uber to the Daughter's house..... big drain on finances having grandkids and living far away.

I remember when you used to live in Heber Valley. Yes, the price of housing in Northern Utah, and all along I-15, is totally out of control. I don't know how people can afford to buy a first home here, or come from a more affordable part of the country, such as the Mid-West.

I wasn't sure how housing prices are in some of the more remote parts of the state, such as Moab. As far as the outdoors is concerned, Moab is definitely a piece of heaven on earth. Especially if you are a local, and know many of the beautiful places to go, that are away from the tourists.

Vernal could be the city of their dreams, or not.

 

[GON]

I get that but your grandkids don't care where they live. What's the anchor to Denver? Whose Job? Other parents? How old are the grandkids? How often do you visit them? As the kids get older and involved in extracurricular activities do you think you'll visit them more or less often?

Is Denver is a long term solution to whomever is currently living there?

Do you guys need access to competent and affordable healthcare? Are you going to get that living in BFE rural whatever place?

BMWTD,

Grandkids are four and two years old. My Daughter and her husband both work in Denver. My Daughter can work from anywhere, but here husband is a field rep based in Denver. I have wished for years he would get a job somewhere else, but my wish- not his.

I was not around much of my kids growing up as my work required extensive travel for extended periods of time. I enjoy the grandkids immensely and appreciate the opportunity to get a "second chance" as a grandparent.

Here are a few pics of what fun it is with the grandkids; they boys came to visit us in Seattle last month. The older grandson caught his first fish, went on a detailed tour of a UH60 (grateful to the Warrant Officer for doing this), and of course no trip with Grandpa is complete with a trip to a donut shop.