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North Dakota “Great Recession” real estate crisis?

real estate crisis indicated by unfinished apartment

The North Dakota Office of State Tax Commissioner recently reported a $63 million shortfall in anticipated sales tax collections in December of 2015. Sales tax collections have declined by over 50 percent in some oil patch cities. Even with a massive state investment program and projects that were financed prior to the recent decline in oil prices, sales tax revenues still collapsed. Plunging sales ...

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Houston Has Highest Chance of Home Price Declines

As a whole, U.S. real estate has a low chance of experiencing a drop in prices. But energy-dependent areas are more vulnerable. Across the entire country, there is a six percent likelihood that residential home prices will decline during the next two years. While the national risk level is low, Energy Patch states — those dependent on coal, oil or ...

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Four tips on finding your mortgage lender guru

Buying a house should be a collaboration throughout every part of the process. It’s one of the few major purchases and commitments you’ll ever make in a lifetime. That’s why it’s crucial to find the right professional who can meet any challenge that arises on the road to your next home. After all, you’ve done the leg work. You’ve talked ...

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Customers can buy panels and own their own power

Don’t want the chore of putting solar panels on your house? Black Hills Energy is now offering a way to solve that. The Pueblo-area electric utility cut the ribbon Thursday on a new 122-kilowatt “solar garden” east of town — a pilot project of 1,280 panels built by the Clean Energy Collective of Louisville. Those panels are up for sale ...

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Oil still drives development in Watford City

Even with the price of oil hovering around its 52-week lows, development in the Watford City, ND micropolitan area continues unabated. The vast majority of oil and gas produced in North Dakota’s Bakken Shale play is concentrated in four counties: Dunn, Mountrail, Williams and McKenzie counties. Seeking to maximize operational efficiency, the industry’s regional offices are tending to aggregate in, ...

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Housing development near Berthold ready for new homeowners

BERTHOLD, N.D. — Developers of a housing project near Berthold are looking for prospective homeowners. The Minot Daily News reports that the group managing the 240-lot Prairie Rose Estates plans to break ground for new homes this fall and build through the winter, The modular homes are built in Indiana to North Dakota and local building codes. They will be ...

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Watford City’s Stenehjem Commons Site Now Shovel-Ready for Development

Following the precipitous drop in the price of oil, much of the industry’s operations in North Dakota are aggregating in the Watford City area, site of most productive wells. There, investment continues unabated and huge developments like Stenehjem Commons are moving full speed ahead. Watford City, ND, November 2, 2015 — The Watford City, ND multi-use development, Stenehjem Commons, is ...

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Why does firewood cost so much? Fracking’s part of it

CONCORD, N.H. — Northeasterners who are digging deeper into their pockets to pay for firewood this season can add a new scapegoat to the roster of usual market forces: fracking. Yep, a timber industry representative in New Hampshire said those hydraulic fracturing well sites in Pennsylvania’s Marcellus Shale formation to suck natural gas out of the ground are using construction ...

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HHS releases fund to provide heating assistance for seniors and low income families

Following the urging of U.S. Sen. Sherrod Brown (D-OH), the U.S. Department of Health and Human Services (HHS) has released $131,709,468 to the State of Ohio for the Low Income Home Energy Assistance Program (LIHEAP). During the 2013-2014 winter, more than 420,000 Ohio homes used LIHEAP to help cover their home energy costs. In Scioto County, 6,733 homes rely on ...

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