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Market Conditions in North Dakota : Real Estate Advice

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  • Local Info1
  • Home Buying11
  • Home Selling1
  • Market Conditions1

Activity 9
Tue Jan 22, 2013
r.heupel asked:
have land north of Elmer Schlecht
0 votes 0 Answers Share Flag
Thu Feb 14, 2013
Sally Grenier answered:
Nobody has a crystal ball, so it's impossible to say what the market is going to be like in 5-8 years. I think you should do what's right for you and your situation now. If it were me, personally? If you can afford to build your dream home now (while land values and costs to build are relatively low), why not? I think the market has "hit bottom" in most places and starting to recover. Home prices are slowly creeping up. But who knows what the future holds? What if there's another "9/11 event"? What if we go to World War III? Anything can happen.

But if you buy something that fits your family now, no one knows what the market is going to be like 5-8 years from now. Will you be able to sell your small home then? Will you be able to buy your dream home then? Who knows! Do what works for you today.
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Sat Oct 8, 2011
John Arendsen asked:
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Wed Sep 1, 2010
Dave Kinskey answered:
Foreclosure sales often have final sale prices below list price, but usually not drastically below list price (occasionally there are exceptions). Banks are trying to list properties at fair market value or slightly below fair market value when listed, so that they will sell within a reasonable time and also allow the bank to minimize its losses.

Foreclosure properties are "as is," which poses extra risks. There are no disclosures from an owner about past history of the home, any leaks, hail damage, repairs, etc., because the bank has no idea. Keep in mind that no matter what, you usually "get what you pay for."

Dave Kinskey
Coldwell Banker First Realty
... more
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Sat Oct 20, 2012
Kausha Bakk, ABR, e-Pro answered:
Hi Daniel! The market when you lived here was very consistent, as it is today. We did see price increases the end of 2003 and in 2007 another increase of about 15%. It is a great time to sell in the Minot area with so many people moving into the market, as well as a great time to buy with the interest being at all time low's (4.25%!). Our market tends to stay strong because of the Minot Air Force Base, they are a great asset to our local economy. We have also become home to many oil companies who have brought workers from across the country. So it is also a great time to scoop up some investment properties since there is a demand for rentals as well! Please let me know if there are any other questions or information I can get for you!! ... more
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Sun Feb 14, 2010
Mary Splichal and Amy Fredrickson answered:
While I can't predict the future, in all of 2008, 2009 and so far in 2010, avg. days on market (DOM) for Mandan single family homes, duplexes, twin homes, etc. was about 90 days. In March 2009 DOM was 112, April 2009 DOM was 96.

When I looked at only single family homes priced from $150,000 to $175,000 in Mandan, in April 2009 the fastest sale was 34 days and the longest sale date was 103 days. I would have to do a market analysis to give you a more accurate number. The condition of your home, location, number of bedrooms, age, etc. and of course the price of your home will all have a big affect on the number of days your home will be on the market.

If you want a market analysis, there is no cost or obligation, just Information. Call me at 701-220-3348 or email me at: MarySplichal@Realtor.com.
Mary
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Thu Sep 18, 2008
Emily Erekuff answered:
Hi Peter,

I'm a bit confused by your post. Are you trying to reply to someone or are you advertising this as a service? If the latter is the case, please note that commercial posts are prohibited on Trulia Voices and please be sure to review our Community Guidelines in full at the link below.

Thank you,

Emily Gibson
Customer Service Representative
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Sun Mar 23, 2008
. answered:
J Hill,

Do you mean Benzie county Michigan?

Regarless of where you are looking, you need to contact a Realtor familiar with that area so that they can act as your buyer's agent. That Realtor will be able to run comparables for you and help you best decide what your opening offer should be. ... more
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