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NEAR NORTH NEIGHBORHOOD HAPPENINGS Open House Tonight -- No Community Center
Tonight is the night for the Near North Neighborhood's Real Estate Open House & Food Drive from 5 to 8 p.m.
All are welcome to come and check out the house and see what's going on in the neighbor... Posted on 12/16/10 at 10:30 AM
Downtown Grand Forks might be seeing some tightening in its commercial real estate as some properties have attracted new tenants recently. Real estate developer Dan Sampson, who owns several downtown properties, said most of the available space for shops, bars or restaurants has filled up.
It's been a very, very long time since a big house with a sweeping front porch at 2104 Kenwood Parkway in south Minneapolis was prominently featured in the opening credits of the 1970s sitcom "The Mary Tyler Moore Show." But there are plenty of fans who remember it - and it's on the market.
Grand Forks’ market may be going through a period of uneven supply and demand, but markets outside the region have experienced more dramatic developments, including flooding and a population explosion.
The east has seen a more moderate population growth, complemented by a steady housing expansion. But then there is Grand Forks, where home building has been cautious and home prices higher than in the Fargo metro area. A result has been what some call a housing shortage and mismatch of supply and demand.
One of the largest farm real estate booms in decades could be getting a boost from an unsuspecting player: the U.S. taxpayer. The government foots the bill for a large chunk of the nation's enormous crop insurance program, which essentially guarantees farmers a profit.
Realtors and city officials in Spearfish, S.D., say North Dakota oilfield workers are moving to South Dakota, some making a more than five-hour commute on weekends. Spearfish is about 300 miles from Williston, which is considered the hub of oil country.
Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated. The Commerce Department said today that new-home sales fell 0.9 percent last month to a seasonally adjusted annual rate of 321,000 homes. That followed four straight months of gains in which home sales rose 10 percent.
Banks are paring their load of troubled commercial real estate loans -- a primary culprit in the recent bank crisis -- by charging them off, restructuring them, bringing in new capital and getting customers to pay them. But while asset quality may start to approach precrisis levels by the end of the year, loan growth probably won't and neither will profitability, the Minneapolis Fed said Wednesday in its first local bank forecast.
Economists caution that housing is a long way from fully recovering. Builders have stopped working on many projects because it's been hard for them to get financing or to compete with cheaper resale homes. For many Americans, buying a home remains too big a risk more than four years after the housing bubble burst.
Demand for apartment buildings continues to rise Grand Forks had a building boom in 2011 driven in part by construction of new apartments and a demand for even more rental units. “We literally have occupancy rates in the 90s, the high 90s, even,” said Bev Collings, who heads the city’s Inspections Department. “That is unheard of in other parts of the country.”
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