I have a buyer who has been getting discouraged due to the run/demand for houses up here in oil boom country. He has made offers on two houses (one a full price offer) and has not won either offer. For those of you who are new to my blog the area I work in, Western North Dakota, is growing in leaps and bounds. With the oil boom and the announcement that the Minot Air Force Base is expanding by 1200 troops and their families there is a buying frenzy between those who need a home and investors who want to rent those buyers a home.
Needless to say my buyer is getting frustrated. Six months ago you could buy a little fixer upper for under $50,000.00 but today the same houses are going for $75,000.00. It's tough on the first time home owners like mine. Finding a place to rent is even harder, impossible if you have a pet or smoke.
This buyer needs to get into a home ASAP because he is currently driving over 100 miles round trip per day to go to work and I'm sure his wife is tired of living with his parents (she's never said anything to me but I can imagine). Well it dawned on me that of all the ho,es we have looked at it was the very first one that we looked at that the owner would be happy to let them move right in and pay rent until closing. I realize this can be dangerous but in this particular case it's going to work great for both parties.
Just thought I'd share that with you.
Bob Timm, Minot ND
Comments(3)