The Landscape Changes When You Are The Land Of Opportunity!

By
Real Estate Broker/Owner with National Marketing Realtors

 

The Landscape Changes When You Are The Land Of Opportunity!

Progress in Minot ND

North Dakota, particularly Western North Dakota, had seen slow but steady growth for the last decade or two. Minot North Dakota had seen “better then” slow and steady but only by a thin margin. That was until The Minot Air Force Base added another bomber wing and at just about the same time the US Geological Team announced the largest oil find ever (and anywhere) was under Western North Dakota.

Rumors abounded about how Minot North Dakota may grow as large as Houston Texas over night. I think everyone I know or had visited with was very excited to be living in the midst of an economic boom while much of our country was facing/dealing with economic disaster.

Imagine a town of less then 30,000 people looking to grow to 100,000 over night and then who knows to where after that. People have literally been coming to Western North Dakota by the thousands as it is truly the land of opportunity today.

Then the unthinkable… a flood sent by torrential rains, greater then any flood in recorded history for Minot North Dakota. One forth of the housing was destroyed and the City infrastructure left in shambles. Imagine, 30,000 people with thousands more coming, no housing available prior to the flood, potable water system destroyed, lift stations destroyed leaving the sewage to back-up into many homes that were not destroyed by the flood and sewage being dumped directly into the raging river.

The river cut the town in two equal haves not allowing for traffic to cross from one side to the other. One side of town cut off from grocery stores, many cut off from their jobs, and of course some cut off from their family members.

Besides thousands of homes being lost so were many businesses and schools. Street lighting and traffic lights in the river valley were also destroyed. Facilities such as the State Fair Grounds, the zoo, nearly every park, and baseball diamond were left in shambles.

The flood was nine months ago and of course there are huge reminders everywhere you travel in the valley. Many like me are just returning to our homes after pouring thousands of dollars into restoring them (those that can be salvaged).

Minot North Dakota is still today’s land of opportunity but think about how all of this has affected the housing market. Home prices and rents have doubled in many cased. There is not a hotel room to be had even though four or more new hotels have been built in the last year. People and businesses want to come and share in the bountiful prosperity we offer but there is no place to house people or businesses.

I was just doing a property search for a friend and there were less then two dozen lots for sale and of those lots the average price was about $65,000.

We are starting to see a trickle of long time residents leaving Minot North Dakota turning into a steady stream. Those on a fixed income, especially those whose homes were destroyed, can not afford another mortgage and/or keep up with the inflation caused by such an influx of people coupled with no increase in competitive services and goods. When the time comes that those living in FEMA trailers are booted out of their temporary homes they will have no where to go and I believe the steady stream will be another flood, a flood of people who can not afford to stay.

Prosperity is a good thing, we all dream about it. Few have the vision to profit by it and to keep from being steamrollered over by it. Minot will survive this and grow and grow and grow. Pray for it’s people, the ones who set the foundation, that they will also survive it and not be forced away from their home. I for one never could have imagined how devastating a flood could be and how lengthy a recovery time is involved. Realistically  I think the clean up alone will be close to 2 years and that the “real” recovery will be about five years.

I don’t want to discourage anyone from coming to the land of opportunity, God knows we need you. I just want to prepare you for the big problem of lack of housing before you come. If you can afford $250,000. or more…. No problem.

The good news is that spring is around the corner and people can live in campers and trailers until they find permanent housing. Campers and trailers just don’t work in an area where winter temps can reach 30 degrees below zero.

 

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Topic:
ActiveRain Community
Location:
North Dakota Ward County Minot
Groups:
Almost Anything Goes
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land of opportunity
progress
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oak park realty
bob timm realtor

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Rainmaker
645,151
Team Honeycutt
Allen Tate

I am sure that living in an area with all that you described going on is a great experience. I have to say that I do envy you.  Before our Phillip Morris plant closed. I felt kind of the same way about our economic status.

Betty

February 23, 2012 07:50 AM
Rainmaker
591,494
Laura Giannotta
Your Realtor Down the Shore!
Keller Williams Realty - Atlantic Shore

Glad to hear you're doing better Bob...home at last! 

February 23, 2012 02:34 PM
Rainmaker
290,516
Bob "RealMan" Timm
National Marketing Realtors

Betty, it is very exciting and I'm glad I have a place to live so I can watch it all happen.

Laura, I'm not back in yet but I would be if I were not so busy and I could get rid of the flu. As soon as I feel better I'm going to find some help to move objects I can not move myself. Maybe this weekend if we do not get the winter storm they are predicting.

February 23, 2012 02:56 PM
Rainmaker
1,228,434
Michelle Gibson
REALTOR
Hansen Real Estate Group Inc.

Bob - Hopefully housing in your area will start to get better.

February 23, 2012 06:21 PM
Rainmaker
355,033
Lauren Selinsky Perez
REO -CEO - CDPE - SHORT SALES - Woman Owned
CA Coastal Estates- Monarch Bay Real Estate DP

I can't believe what you've gone through.... Here's wishing the best for your community and building relationships to brainstorm and get your local government encouraging others to start a new development of businesses and growth for your area. 

February 24, 2012 08:17 AM
Rainmaker
290,516
Bob "RealMan" Timm
National Marketing Realtors

Michelle, I hope you are right but it looks very dismal to me for the lower income folks. I just came from our Realtor Tour and one of the flood homes was on it. Inside it was totally renewed but still had unlevel floors, many older windows, and the contractor did not do a thing to the out side of the house so evidence of the flood was still very obvious. This house had water up to the first row of shingles. Less then 800 square feet on the main floor. Price... $174,900. Imagine the yuck between the siding and the walls that the contractor did not "bother" with. It makes me sick to think what this contractor is exposing young kids to who may move into this home. Anything for a big profit I guess.

Lauren, I can't believe it either but I'm still standing. Now the hard part is going to be dealing with knowledge such as I just told Michelle about. Homes like the one I described to Michelle are going to be the "affordable" homes. How in good conscious can I put a family into one? No doubt many of my college's will have not problem with it.

February 24, 2012 08:31 AM
Rainmaker
1,102,731
Myrl Jeffcoat
Greater Sacramento Real Estate Agent
GreatWest Realty

Bob - Those of us who knew you during the disasterous time of the flooding in Minot, have seen the suffering your region has endured these past months.  I agree those that are lower income, or retired, will have a very challenging time finding their way back to any sort of recovery.  My heart goes out to them!

February 26, 2012 11:25 AM
Rainmaker
737,623
Gabrielle Kamahele Rhind
Broker/Owner
KGC Properties LLC, Tucson Property Management & Real Estate

HI BOB!  You have certainly been through it - as has your entire community.  I appreciate that you let people know what's out there that is "no problem" - how long did it take to get over that flu?!

March 22, 2012 05:56 PM
Rainmaker
290,516
Bob "RealMan" Timm
National Marketing Realtors

Myrl, Driving around town can be very exciting, seeing all the new construction... but then you get to the valley and even though a lot of work is going on you can not ignore all the destruction and feel the loss of many families.

Gabrielle, I wish I could keep up with everything, especially blogging on AR but there is just so much going on. The flu was one of those where it left as quick as it came but then came back for revenge about 3 days later and stayed a little longer.

March 22, 2012 07:51 PM
Anonymous
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Rainmaker
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Bob "RealMan" Timm

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