Bakken Crest is solely a rental company, but one of our affiliated companies is developing Arnegard Lakeview Estates, located directly across from the Arnegard Dam. We asked them for some insights in to the sales environment in Watford City and Williston.
Q: How is the market?
A: It has definitely slowed since the boom years. There is no doubt about it. People are looking but mostly waiting to buy. In the past, we could count on a house being sold before it’s ready. Now it’s build it and market it and wait, more like a traditional real estate market.
Q: Have prices come down?
A: Not really. The only difference is the length of time it takes to sell a house. The margins on housing and the prices have not changed much.
Q: Tell us about Lakeview Estates
A: We aimed to build McKenzie County’s premier single family development, aimed at professionals looking for a place to raise their families and be there for the next 20 years. All our houses have great views, on acre lots, 4 bedrooms, most with walkout basements. We are very proud of it. It turned out great.
Q: What do you think of the future of the Bakken?
A: Futures do not change like the second by second ticks of the price of oil. The future is bright. The forecast of 55,000 wells being drilled is still the same. It does not really matter to us if the 55,000 are drilled by 2035 or 2040 or even 2050.
Thank You very much for your time.