Realtor Assocation Pres-Elect Says ND in Good ShapeThe president-elect of the National Association of Realtors says North Dakota stands out when it comes to real estate.
By: David Schwab, WDAZ
President-Elect of the National Association of Realtors says North Dakota stands out when it comes to real estate. Ron Phipps is in Grand Forks as part of the 2010 Realtors Convention of the Dakotas which has brought about 500 people to the Alerus.
"North Dakota is the shining star in their eyes as well as the market and contributions to the National Association of Realtors," Rita Schuster, of the North Dakota Association of Realtors, said.
Ron Phipps, who is visiting from Rhode Island, told realtors from North and South Dakota that they are in an enviable spot right now because this part of the country didn't suffer the housing woes that many other places did.
"When you're in a market like North Dakota where employment is really strong, unlike my home state, your situation will recover and do better on a more consistent basis than those areas that have a real issue with employment," Phipps said.
Phipps says the $8,000 home buyers' tax credit, which expired this year, served it purpose. But now it's time to let the housing market correct itself. He says stricter loan policies should help.
"Now we are back to real good fundamentals. And that is if you have good credit and a little bit of money behind you, you have a good job, and you use common sense, then it makes sense for you to be a home owner," Phipps said.
Phipps told local realtors that real estate is like politics, most of what matters is local.
"For the people in your viewing area, they should enjoy the fact that they did not see huge swings either way. The future is very bright. And that is because of good employment, housing stock," Phipps said.