Minot, ND

The following was a question posted on another blog where I have several listings posted. I realize my response is controversial but that is why I'm posting it. Keep in mind as I stated to Miranda, Minot ND has a huge housing shortage and homes that sold for $35,000 just a few years ago are commanding 2 to 3 times that amount today. There are plenty of $250,000 homes available in our market but those are not the ones your typical Contract for Deed buyers are looking for.

My name is Miranda and my question is would you be willing to do a rent to own type of deal?

Miranda,

The Minot ND area housing market is just the opposite of the rest of the USA. We have a huge shortage of housing here due to our Air Force Base and all of the energy related things going on. Rent to own or Contract for Deed thrives in depressed markets and is hardly heard of in raging markets like the one we have in Minot. Most sellers need the income from their home sale to purchase their next, HOWEVER in the rare case that a seller would consider a Contract for Deed the following criteria usually needs to be met: 1) A large down payment, usually 25% or more of the purchase price. #2) To make it worth the sellers while they are going to want at least a little more then what they could get for rent. A smart seller will state that the monthly payment would be 50% payment and 50% interest. The only way anyone is going to know if a seller is willing to go for a Contract for Deed is to present an offer. On occasion a seller who never thought about it may be interested if the offer is good enough. Your best chance of having a Contract for Deed offer accepted is if it is made to a For Sale By Owner (FSBO). I say this because a Seller represented by a good agent will get some pretty strong warnings from that agent if he/she is looking out for the sellers best interests as he/she should. One need not look hard into my blogging to see that I have a very low opinion of FSBO sellers. Lets just say that I think B. T. Barnum's famous saying "There is a sucker born every minute" applies to both sides of a FSBO and you are much more likely to sneak an incredible deal past such an idiot.

Bob

If you have been watching any news this week you would get the impression that all of North Dakota is under water.

AP Photo -- A resident walks down a flooded road in a rural neighborhood north of Fargo on Friday.

The answer to that question is NO but a whole lot of it has had it's trouble. Minot North Dakota is in good shape and that is for one good reason... prevention! The Souris River (also known as the Mouse River) runs through Minot North Dakota. We had our turn 40 years ago. Thankfully after the disaster 40 years ago the City invested BIG in dikes, dams, and reservoirs. The water certainly got high and had it not been for the excellent planning from years ago mine and many other Minot homes would have been under water. Hats off to the people with the insight to actually use tax dollars to protect it's citizens.

It's time for the Minot ND Friends Of The Library Spring BOOK SALE!

I love these sales at our public library. There are many books, art objects, movies, and various types of music media donated to the library book sale along with thousands of retired books and referance resources. I often pick up referance materials that would cost me hundreds of dollars for just a buck or two because they are last year editions. It's well worth the $2.00 to go to the pre-sale.

The pre-sale is April 22nd 5:30 - 8:30 PM. Gourmet coffee and bars will be served. The sale will continue on at no charge on April 23rd, Noon to 9 PM; April 24th 9 AM to 6 PM; April 25th 10AM to 4 PM. Feel free to bring donations as well. See you there!

Bob Timm, Realman, Minot ND

Here is a "Heads-Up" to all the Southerners coming to our community to serve on the Minot Air Force Base or out in the Oil Field. North Dakota has been known as the land of 2 seasons.... Winter and Road Construction.

Keep in mind that unlike our Southern States we can only maintain our roads when they are not snow covered. I'm posting this now because it's only been in the last week that we are seeing the actual surface of many of our streets here in Minot. So far what I'm seeing is not pretty. For the last 4 years we have had the busiest street in town, Broadway, completely closed in a several block area as we repaired it from one end to the other. This year I'm betting on the next busiest, Burdick Expressway. I drive East Burdick Expressway every day and I'm sure hoping they get to it soon. If they don't I'm afraid the inhabitants of hell will escape (OK I'm exaggerating a little) but it is a fact that you need to be prepaired for detours until the snow flies again next October. Drive careful!

This is my first "Thankful Thursday" post and it's hard to decide what the first one should be but I'm going with this: Spring, Flowers, and Rainbows. Today has us thinking spring in North Dakota because the weatherman is promising today will be our last sub-zero temperature day of the season. This weekend the temp is supposed to climb into the 40's and usher spring into our neighborhood. It's been our worst winter ever according to the record books so I am really really thankful for Spring, Flowers, and Rainbows.