Bob Timm's "RealMan" Blog

ARE YOU A TOURIST?

This is "Spirit" week in Minot, at least in the Minot School system. Today is "Tourist" day where the kids are encouraged to dress as a tourist. This is Tina's offering for today's event.

It made me think about how often people "assume" they will fit in to a new environment. An environment that they are usually totally unfamiliar with.

Minot ND has been blessed with many years of consistent prosperity. We have had a positive housing market for over 30 years straight. 30 years of a Sellers market. Our prosperity has brought a lot of people here from all over the country to claim their fortune in the oil field or in the construction business.

My daughters outfit for today reminded me of the tourist that has come here from a depressed home market expecting Sellers to kneel at their feet when they ask to purchase their home with owner financing. I'm sorry... but those folks look like clowns... or out of place tourists. A $200,000. home here may sell for $100,000 in your market. That's because of demand. Before you ask a Realtor or a home owner if you can purchase a home with owner financing ask yourself, "Why would the Seller sell to you with no money when the market is so hot they can get double what you would expect at home?".

Don't look like a tourist. Do a little research. Be an educated Buyer. If you don't know the market you are in ask a Realtor. Realtors enjoy explaining their markets. You may know the market you came from, but you may not know the market you are standing in.