I don't know! Do YOU know? We hear things.... this person knows one thing, someone else knows something else or they think they know. Then there are the people who really do know something and they aren't doing much talking. (funny how that works, isn't it?)
What we expect is that housing prices will edge up over the coming months as more people are finding their way to North Dakota to work in the Oil industry.
Oil leases are big business now. Every register of deeds in the vicinity of where the Bakken is located have increased activity and that has been occurring for some time.
Who all will be here? I'm hearing some names, picking up some website comments, various remarks concerning relocation of rigs, etc.
My son who attended a meeting of the mining industry in Alaska, (which includes oil) spoke directly with an owner of numerous rigs that had been hoping that Anwar would open up, but now is pulling every rig and heading for North Dakota. We are starting to see "info" coming through our local newspaper and I will share a portion of that. In order to read the whole article you will have to go to their website.
The following is a section from an article in the Minot Daily News:
MAGIC Fund asked to help position Minot for oil development
By JILL SCHRAMM, Staff Writer
"An oil-field service company is requesting $600,000 in start-up help from the Minot MAGIC Fund to establish an operation in Minot that could employ at least 80 people.
The company is looking to locate in an energy park that the Minot Area Development Corp. hopes to develop east of the agricultural park, also with help from the MAGIC Fund.
The MAGIC Fund Committee meets Friday to take up MADC’s request for a $1.1 million grant to build out water, sewer, curb and gutter, pavement and lighting for the new Minot Energy Park. It also will consider the $600,000 request from Pure Energy Services of Calgary, Alberta, Canada.
Pure Energy hopes to expand into Minot’s proposed energy park this year. The company already has operations in the United States. It entered the U.S. market in 2004 with facilities in Colorado and Wyoming."
If you are thinking of selling and buying in this market, there is no better time than now. True, the price you receive for your house will be less, but the price you pay for another will be less also.
In actuality, if you are selling and buying in the same market, it all balances out. If you wait and the prices leap, then you receive more for your house, but when you buy, you are going to be spending more.
If you are planning to move out of the area, You may be able to time your move to when the market is rising. It is important to remember not to be "greedy" because it usually ends up with a house overpriced and not moving. A market Analysis will tell you "about" what your property is worth.
There is NO CHARGE for a Market Analysis. All I ask is that when you are ready to sell you call me first to discuss the marketing and sale of it.
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