As many of us have probably noticed, the housing market has become a real issue in the past few years. Today, two of our senior Vice Presidents, Tonya Duncan and Josh Harm, join us to discuss the real estate market in North Platte. Tonya is our mortgage lending manager and Josh is our business banking manager. They work with clients throughout the North Platte market to help them in their home buying journey. But for many, this has been a lot harder of a dream to realize recently.
Right now, we currently have 30 homes on the market as compared to a healthy market of around 150 homes. Danielle’s seen the lack of inventory first hand. While we are seeing an influx of new community members, we are also seeing a lack of adequate homes to buy. Volatility is certainly making this a complicated environment to navigate.
With Tonya and Josh, we are going to explore some possible solutions to this problem and how they could help the families of North Platte. Alternative construction may be a strong trend that can offer some pricing relief. Townhomes also seem to be a huge untapped potential in North Platte. It gives first-time home buyers or even renters another option to look at. We’ll explore these options, jobs, housing programs, and more on today’s show.
Join us today as we further discuss:
· What does the North Platte housing market look like?
· What first time home buyers are facing in the market
· The troubles with building versus buying
· How alternative construction and townhomes could help the market
· The role employers and jobs play in the housing market
1:40 – Welcome Tonya and Josh
3:26 – Volatility throughout the market
4:52 – Why are we having this problem?
6:12 – What’s it like to get a custom build?
7:13 – Alternative constructions
9:11 – Zero lot line or townhomes
10:41 – Getting people involved in vocational trades
11:45 – How employers impact the market
13:02 – “Shot in The Arm” program
14:48 – Do employers ever get involved?
15:27 – What grant programs can you use?
16:14 – What can we expect with interest rates?
16:40 – What should our community be doing?
18:28– How neighboring communities are faring
20:08 – Helping people buy their homes
21:12 - Our commitment to home lending
22:39 – Random trivia questions!
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This episode is brought to you by NebraskaLand Bank. We are Member FDIC and an Equal Housing Lender.