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Thoughts from Erik Peterson
February is here and just as we get a short respite from freezing temps, we are also getting a break from oppressive mortgage rates. Residential interest rates have pulled back considerably and are at the lowest they have been in over 6 months. Once again, sellers are getting multiple offers and the residential market is a game of musical chairs. If you put home buying on the back burner, now is the time to reevaluate. Talk to a good local mortgage professional and update your pre-approval letters. This will set you up for success when you come across your dream property.
We predict inventory will continue to tighten as demand continues to outpace supply, which is still reeling from lack of skilled construction labor and higher building costs. This is especially true in the commercial/industrial sector as oilfield service companies are taking advantage of strong oil prices and high margins.
We are proud to welcome another incredible agent to our team, Katrina Baker. She hails from Alamo and lives there with her family. Katrina has 8 children and deep roots in North Dakota. She is community-focused, driven, and will be a fabulous addition to our Proven family! She will primarily serve our clients in the rural areas of Alamo, Ray, Tioga, Crosby, and everywhere in between. Welcome Katrina! We are looking forward to working with you.
WANTED! More inventory. If you have considered listing your property and want to maximize marketing exposure, please consider us. Find out how our best-in-class marketing and superior technology will get you the results you desire. We would be honored to assist you in every way we can.
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