MINOT REAL ESTATE 101
Welcome to Bob Timm’s, National Marketing Realtors, Minot North Dakota Real Estate 101, lesson 3.
The purpose of this ongoing course is not to teach anyone to be a Real Estate genius but to simply help you know the absolute basics about Minot North Dakota.
The following map shows the crude approximate location of the Mouse River. You will notice in this map that I added 4th Ave NW & NE. This is because 4th Ave is better in showing the rivers path through town.
Geographically Minot is often described as being in 3 sections: The Valley, North Hill, and South Hill. The description of each section changed dramatically after 2011 and each section is very distinct in the Real Estate world. Each has it’s plus’s and pitfalls.
The Valley. As far a FEMA is concerned there still is NO flood plain in Minot. That is to say flood insurance is NOT required in the Mouse River Valley section of Minot by FEMA today. Obviously that may change. When I purchased my home 14 years ago I had to insist on it as my agent thought I was nuts being massive flood control had been put in place in the 70’s. At this time about a billion dollars of flood planning is on the table due to the flood of 2011.
North Hill, prior to 2011 had very little commercial commerce. When this portion of town was cut off from the rest of the town in 2011 it spurred massive commercial growth over the following years.
South Hill has enjoyed strong growth through out its history and in large has enjoyed the highest property values because of it. Evaluating overall property values inside the boarders of the City limits I would say this is true, South Hill has the highest over all value per square foot.
An odd but true point of interest: The homes in the Valley historically have had no problem with ground water seepage. Many homes on North Hill and South Hill have a constant problem with ground water and flooding basements.
In lesson 4 we will talk about public parks and buildings.
Comments(2)