Real Estate 101
Some times it’s easy to forget a basic rule of your business. I forgot a very basic rule that is probably in the 1ST chapter of any Real Estate training manual, “The Real Estate Market Responds Sloooowly”. Here in Minot ND we are sitting on the largest oil strike ever. When word started getting around about the oil strike this past winter and I was driving around the countryside seeing rigs going up all over I was sure our housing market was about to go through the roof. Adding to the excitement was the announcement that the Minot Air Force Base was to add another squadron of B-52’s plus 1,000 troops and our Mayor announcing that he experts that our little City of 35,000 to double in population within 5 to 10 years it was easy to get caught up in the excitement. No less then 3 major oil companies have announced that they are moving here as well as some large retailers. It’s already hard to find a place to rent here in Minot and I don’t see many multi-family developments going up. Well with all this excitement I forgot that rule, “The Real Estate Market Responds Sloooowly”. I was sure that by now there would not be a home available in town and that anything that would come up for sale would be highly inflated. I still say it’s coming but most of my colleagues fell we won’t really see the vision I had until next spring (2009). I find it hard to believe it will take that long but with everyone but me saying it I have to concede that I must be wrong. Rest assured I will be keeping you posted on how all this plays out. You can watch the action on my website www.MinotHome.com
In the mean time if you are unemployed or under paid you need to pack up the family (and certainly your hunting dog) and head for the Minot North Dakota Oil Boom. You can still buy a home at a reasonable price and find a job anywherein town. Minot is a great place with almost no crime, great schools, good people, an active Arts crowd, and more. Check out the links page on my website and you will get an idea of just how “civilized” we are up here in fly-over country.
Feel free to contact me:
Bob “RealMan” Timm, RE/MAX Realtor
701-720-8513
bobt@MinotHome.com
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