Left: Mary and Mark Petersen at the RV show in Minnesota.
jobs such as teachers, policeman, firemen, store clerks, and so forth can’t afford the high prices for homes, or even rent. Another group of people dismayed by the high prices are those coming in from elsewhere. “We’ll have people coming up from areas where the real estate market isn’t strong and they have a hard time adjusting. This used to be thought of as a small cowboy town with low prices, and now housing is so expensive.” Gorder’s advice is if you’re moving to the area, visit with a realtor you trust and talk to your lender. “If you plan to buy, it’s essential to be pre-approved.” Rentals continue to be tight – and pricey. Troll through Bakken rental websites and prices will range from $2,500 for a two-bedroom rental, to $4,500 for a fourbedroom house in Williston. Sidney, MT, which is on the edge of the boom, has less expensive rentals, but their building boom hasn’t kept up with the demand and rentals are in extremely short supply. Those who can’t afford – or don’t want the hassle – of home ownership or even renting often opt for an RV or trailer. Mark Pettersen of Coates RV in Williston explains that going the trailer route provides a viable option to home ownership. Coates RV started in 1938 and had been family owned and operated the entire time. Four years ago Coates RV started another dealership in Williston with Pettersen at the helm. 50
BAKKEN OIL REPORT – SPRING 2015
Above: Coates RV in Williston, ND.
Petersen says he hadn’t paid much attention to what was going on in the Bakken, until he was with a group of dealers and investors buying government FEMA trailers to sell in places with big job booms, like the Bakken. Pettersen, who is a Minnesota native, couldn’t see the sense of trailers designed for warmer climates being used by people living in the bitter North Dakota winters.
the top reason people buy a park trailer
“What I did was work with Forest River (which is owned by Berkshire Hathaway) to develop the SZS, a travel trailer suitable for the North Dakota harsh climate,” explains Pettersen. “We realized there was a need for people living in the Bakken to have a trailer that could stand up to the cold, yet stay warm inside. Interestingly, once we got here, we realized that not only was there need not only for oilfield guys to buy the RVs, but there was a big retirement community here who wanted camp trailers and fifth wheels.”
to take heed: if you buy an RV/park trailer,
Pettersen says even with the increase in available housing units over the past four years, and even recently with a slowdown because of low oil prices, Coates RV is still thriving because of their camper business.
or travel trailer is the cost. “Even if you just show up here and don’t have much money, you can still purchase an older trailer for a couple thousand dollars until you can afford something else.” Trailers will range from $2,000 for an older unit to $70,000 or more for a newer one. Petersen warns newcomers or those considering buying a trailer for Bakken life regulations state you must keep it in a campground – at least in Williston. “Find out before you buy one where you are going to put it and how much it will cost per month. You need to anticipate your expenses on your plot [in Williston, plots can run $1,000; Dickson, about $740]. Some will include utilities, some don’t.” He says to be sure that the trailer is well insulated, and to know how to enhance the insulation value by adding insulated skirting, wrapping your water lines with heat tape, and so forth. Another good feature about trailers, other than you can take them with you when you go, is if you opt to leave it behind,
“People who live here love to camp!” he admits, adding that trailer buying is seasonal. “When the winter comes, most people out here are already established in the area. Spring is when we see biggest impact of people wanting trailers.”
there is a market for them. There is quite a
He cautions that regular travel trailers aren’t made to handle the harsh conditions. “That’s why we sell our Forest River trailer that has two furnaces and insulation. That’s what people in the oilfield need,” he says. He explains that
related to the oil industry are transient.
bit of turnover with the workers in the oil fields with someone selling and someone buying trailers. Both Petersen and his wife enjoy living in Williston. “I know a lot of businesses But when we decided to build our facility here, we had already decided we wanted to be a part of this community. We’re planning on having Coates RV here for a long time.” w