Business news

A brisk home market

By Brian Preston

What a month with some milestones being set in July.

First, last year we had our first month with over 500 closed transactions, and a couple more since, including last month. This month, July 2020, we broke the 600 mark with 620 closed transactions. July was up over last years record setting July by 89 transactions for an increase of 16.7%.

Year to date sales thru July are up 135 deals for an increase of 4.7%. We almost broke the $200 million volume in a month. Since I did last month’s report we have had another 20 closings for June and three more for May. I guess they are so busy they can not get data entered on time.

The second milestone is we are under 900 active listings for the first time in 21 years of this report. 867 Active listings. There are more pending sales and even more closed sales than active listings in every price range from $225,000 and down. Last month was the first time we dropped under a 1,000 active homes and it only took one month to drop under 900. Same number of homes coming on the market we are just selling them that fast. Except for the bottom and top price ranges all active listing dropped and one remained the same.

Pending contracts are down from the month before by 46 from 922 to 876 for July. But that is 304 more than last July, for an increase of 53% from last year, so we are way up for this month.

With those numbers we have set our third milestone, for the first time we have for our entire market, and not just a price range, we have more homes under contract than active Listing to choose from.

New homes have had a couple great months. July had 141 closed deals which is 39.6% more than last year with 40 more deals. When I did June's report last month there were 130 closed deals. Well, those 20 closed deals added since last month I mentioned, 18 of them were new homes. So the current total for June is 148, up 40.9% from last June with 43 more deals than last year.

Lets hope this keeps up

(Brian Preston is a local Edmond real estate agent and reports regularly on the state of the local home market.)

Tickets sell out for annual St. Jude Dream Home

By Richard Mize

Oklahoman.com

Despite the house never being open to the public, the fundraiser was a sellout. All of the 8,000 raffle tickets that were available at $100 each were sold by Aug. 3. The drawing will be at 9 a.m. Thursday on Fox 25. Ticket sales are limited to establish the odds of winning the house and other prizes. "This was the earliest the campaign has sold out and the most we’ve ever raised with the St. Jude Dream Home Giveaway in Oklahoma City!" said Shannon Nadolni, spokeswoman for St. Jude Children's Research Hospital in Memphis, Tennessee, and American Lebanese Syrian Associated Charities. Actor Danny Thomas started the charity organization in 1957 to raise money and awareness for the hospital, which he opened in 1962.

The sellout means the project raised $800,000 for the hospital, which works to end childhood cancer and treats children regardless of ability to pay. The survival rate for kids with cancer, 20% when the hospital opened, is 80% now, St. Jude says.

St. Jude says all proceeds go to the hospital, which opened as the first fully integrated hospital in the South: "More than just a treatment facility, this would be a research center for the children of the world, regardless of race, religion or financial status," St. Jude says on its web site, https://www.stjude.org/.

Shaw Homes, based in Broken Arrow, stepped in to build this year's Oklahoma City Dream Home when the chosen builder backed

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The home, 2,500 square feet, three bedrooms, three baths at 8616 Maple Creek Road in Edmond, is valued at $365,000. It is in Woodland Park addition east of Douglas Boulevard, north of Covell Road.

When the chance came to build the home, "Our response was 'yes,' before they even told us the details," said Aaron Antis, vice president of sales for Shaw Homes.

It was a big disappointment not to have the personal, one-on-one encounters with people that come with daily public tours of the Dream Home, Antis said. But, he said Glenn Shaw, who founded Shaw Homes in 1985, and others believe that it and the hospital will be blessed for their efforts. "Our trust is in God. When you sow, you always reap," Antis said.

In addition to the St. Jude Dream Home, Shaw Homes has a model home in the Woodland Park addition, at 3303 Birchwood Creek Circle.

Shaw Homes also builds in Fox Lair Estates, northwest of Waterloo Road and N Pennsylvania Avenue; Ridge Creek, west of Douglas Boulevard and north of Coffee Creek Road; Rush Brook, southeast of NW 192 and Western Avenue; Pinnacle, south of SW 29 between Sara and Mustang roads; Twin Silos, northwest of NW 150 and Council Road; and Timber Ridge, north of Memorial Road between Cemetery and Frisco

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Business Data Released

The Edmond Economic Development Authority has released some financial data, which reflects some of the business climate in Edmond. Above, sales tax collections were above what they were a year ago. This was recorded despite the virus affecting local shopping habits.

Applications are now open for the University of Central Oklahoma’s inaugural Black Male Summit Leadership Class (BMSLC) this fall. The program, an innovative extension of the university’s annual Black Male Summit one-day conference, is designed to foster the next generation of leaders by empowering young, Black males.

The BMSLC is a five-week virtual leadership class in which participants will be able to earn a leadership microcredential, a demonstrated mastery of a specific skill. Class sessions are 3-4 p.m. Wednesdays Sept. 23 –Oct. 21 (except for Oct. 14).

The BMSLC is a way to continue the mission of the Black Male Summit, originally planned for March 24 and canceled due to the COVID-19 pandemic. The mission is to address the historical, cultural and relevant challenges that affect the development of young, Black males; build connections between UCO and public and private high schools across the state of Oklahoma; and, encourage the pursuit of postsecondary education.

As with the summit, the leadership class will allow participants to experience nontraditional, creative and interactive presentations, discussing topics on leadership, Black male masculinity, social justice and community activism.

“During a time of increased uncertainty, UCO’s Office of Diversity and Inclusion is excited to offer this innovative and completely virtual experience for our young, Black males,” said Dene Roseburr-Olotu, director of

(Editor’s Note: LaDonna Sinning is with Arledge & Associates, an Edmond CPA firm. Below she answers financial questions on the Coronavirus.)

Last time you spoke to developing a cash flow plan to survive this pandemic. There is still no end in sight, what other advice to do you have for businesses during these uncertain times?

This does seem like it is a never-ending crisis. Once you have managed your cash flow and made sure you can stay afloat, there are a few things you should address. First, make sure you are Sinning communicating to your customers in a clear fashion. Are you open? What limitations do you have on that? Are you required masks and/or social distancing? In other words, if I want to patronize your business, how and when can I do that?

What should I be doing in regards to internal communications?

Don’t fail to communicate with your employees, particularly your best employees. Retaining your best people can be vital to your success. To retain staff during this crisis, it’s important that they feel physically safe and financially secure. To that end, I would encourage you to talk to them about what you could do to make them feel safer at work as well as talking to them about the security

PHOTO PROVIDED

Central’s Office of Diversity and Inclusion.

“At its very core, the BMSLC is about empowering and uplifting this often-forgotten segment of our community. Although we will not host the Black Male Summit this year in its and future for your business. Giving them a voice in their own safety and making them aware that the business is, indeed, going to continue well beyond this crisis will help calm nerves and improve morale.

Is there anything else that we should be doing?

One thing I know for sure is that most businesses should be reviewing their strategic plan and marketing and business development action steps. The environment has changed and we don’t know that it will ever be as it was before. Now is a great time to adjust strategies and approach for what a more socially-distanced future may look like. If people continue to shop mostly online and have come to enjoy curbside service, what does your business strategy need to be to capture your market? I believe that it’s unlikely that we will be able to return to the levels of customer service we offered in the past as that will be a downgrade to what people have come to expect. We need to recognize that we have made some permanent changes to our business model and work toward incorporating those going forward. Adding these models of service to your business plan (remote work, curbside service, contactless delivery, etc.) will help you address improvements and profitability while maintaining a competitive presence in this new environment.

LaDonna Sinning, CPA, CFE, is a partner at Arledge and Associates,

Black Male Summit Leadership Class nears

Students attend the 2019 Black Male Summit on the UCO campus. This year, the summit will continue as a five-week virtual leadership class.

See Q&A, Page 19

traditional form as we consider the safety of our students and families, we hope that through this leadership class we can still provide a platform for these students to come together and engage in authentic conversations while emphasizing the importance of leadership and postsecondary education.”

The theme for the leadership class is “The Marathon Continues.” Inspired by the late rap artist Nipsey Hussle, the BMSLC will allow young, Black males to (re)discover their identity and reimagine their futures.

Students who are accepted to participate in the BMSLC will be eligible to apply for nearly $4,000 in scholarships, courtesy of diamond-level sponsors Perry Publishing and Broadcasting, CSAA Insurance Group a AAA insurer, UCO’s African American Faculty and Staff Association, and UCO’s President’s Leadership Council and Leaders of Tomorrow.

Interested high school and college students should apply by Friday, Sept. 4. Information sessions will be held Aug. 28-29. For more information or to apply, visit www.uco.edu/student-resources/odi/diversity-outreach/blackmale-summit/ or contact the Office of Diversity and Inclusion at 405-974- 3588 or odi@uco.edu.

The Oklahoma City Community Foundation announced recently that more than $5.2 million in endowment fund distributions will go out this week to 365 Central Oklahoma nonprofits. And, despite severe economic disruptions tied to COVID-19, the sum of this year’s distribution is an increase over the amount given in 2019.

“These distributions help anchor the budgets for many of our nonprofit partners, assuring their long-term sustainability and allowing them to plan for the future,” said Nancy Anthony, president of the Oklahoma City Community Foundation. “We could not be more pleased to report that the size of our annual distributions has not been affected by these uncertain times.”

Each Fall, nonprofits that have established endowment funds at the Community Foundation receive a distribution generated from the fund. The

Q&A

From Page 18

PC, an Edmond-based accounting firm. Arledge and Associates, PC is a recognized leader in the accounting industry offering practical solutions in the areas of tax planning, auditing, consulting, accounting advisory services and client accounting. Through its Gateway Executive Solutions division, the firm offers outsourced CFO, controller and cloud-based accounting solutions.

This article contains general information only and does not constitute tax advice or any other professional services. Before making any decisions or taking any action that might affect your income taxes, you should consult a professional tax advisor. funds are established by the respective organizations or individual donors and are managed through the Community Foundation’s Charitable Organization Endowment Program. In addition to an increased distribution amount, nonprofits are also receiving this year’s distribution months in advance to help with current fundraising and cash flow needs that might have been affected by the pandemic.

“We are excited about the size of this year’s distribution,” Anthony said. “Agencies will receive an average of $14,800, and 20 of the organizations will receive $50,000 or more.”

Supporters have been donating through the Community Foundation’s endowment program for years, and now it is the largest of its kind in the nation.

“Some of the funds were established by Okla

homa City Community Foundation Founder John E. Kirkpatrick 50 years ago,” Anthony said, “and the size of our distributions have increased through the years, helping to strengthen our community and improve quality of life.”

Anthony said there are a lot of nonprofits in Central Oklahoma making a real difference in the community, and it is important for the community to continue supporting them because of the positive difference they are making in people’s lives.

But many donors struggle to find organizations that best fit their individual interests, so the Community Foundation is hoping to help through GiveSmartOKC.org, a website with in-depth information about more than 300 charitable organizations in the Oklahoma City area.

“GiveSmartOKC.org is a great first step to giving,” Anthony said.

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