Minot AFB Real Estate Market Trends – North Dakota

News for Minot AFB, ND - February 1st, 2011 2:11pm

Daily Real Estate News | February 1, 2011 | Share
5 States With Biggest Gain in New Home Closings
States that once topped charts for new home sales gains are absent from this year's list, according to new research from Housing Intelligence. While California, Nevada, Arizona, and Florida are handling a flood of distressed properties, states with strong employment growth are emerging as the strongest markets in new-home sales.

Here are the top five states with the largest new home closings and the percentage of increase in volume compared from 2009 to 2010, according to Housing Intelligence:

1. Hawaii: 26 percent
2. North Dakota: 21 percent
3. Wyoming: 11 percent
4. Washington, D.C.: 10 percent
5. Delaware: 2 percent

The key -- for at least the top four states on the list -- is they boast low unemployment rates compared to the national average.

Housing Intelligence, an independent research company, says in its weekly Key Indicator Alert that "it's certainly no surprise that states with healthier labor markets have healthier housing markets, but it underscores the vital need for better job growth elsewhere across the nation."

Source: "Only Five States Nab Net New Home Gain," National Mortgage News (Jan. 29, 2011)

News for Minot AFB, ND - Thursday May 6th, 2010 11:08am
ARMED SERVICE MEMBERS HAVE EXTRA YEAR FOR HOME BUYER TAX CREDIT
WASHINGTON, April 26 - The National Association of Home Builders (NAHB) wants members of the military, foreign service and intelligence communities to know that they may have an additional year to buy a home and claim the home buyer tax credit, which expires for most Americans on April 30.
The law provides qualified service members who served on official extended duty outside of the United States for 90 days or more at any time between Jan. 1, 2009, to April 30, 2010, another year to buy a home and claim the credit. They have until April 30, 2011, to sign a sales contract, and until June 30, 2011, to settle and close on the home. Both the $8,000 first-time and $6,500 repeat home buyer tax credits are included in the rule.
"Congress recognized that many service members may have missed out on the home buyer tax credit due to being posted overseas," said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. "It is only fitting that they be given another year to take advantage of this opportunity in appreciation of the sacrifices they have made serving our country."
"Qualified service members" are defined as a member of the uniformed services of the United States military, a member of the Foreign Service of the United States, or an employee of the intelligence community.
The rule that requires buyers to repay the credit if they move out of their home within three years has also been waived for qualified service members if they have to sell their home due to receiving government orders for extended duty service.
NAHB provides information on the home buyer tax credit, including eligibility requirements and links to home buying resources, on its consumer website www.FederalHousingTaxCredit.com... [ + Read Full Article ]

Stimulus Money for Minot AFB, ND - Thursday January 14th, 2010 1:02pm
From Minot Daily News: http://www.minotdailynews.com/page/content.detail/id/535719.html?nav=5010

MINOT AIR FORCE BASE Minot Air Force Base is getting another new dormitory built with stimulus money.

The state's congressional delegation announced Wednesday that $22 million in federal economic recovery package funding will be used for the new facility. The new dorm will have 168 rooms for airmen.

The money comes from savings in other military construction projects, the delegation said in a news release.

This is the second new dormitory that will be constructed on the base with funds from the economic recovery package. A third dormitory will be completed shortly.

"This new facility will help ensure we have good housing facilities for the enlisted men and women who are helping Minot Air Force Base fill its growing role in our national security," the delegation's release said. "The Air Force has told us time and time again that they are committed to a long-term military role at Minot Air Force Base, and this new project reaffirms that commitment."