rapid city real estate: How Far is Our Housing Rapid City Market Down? ...NOT MUCH!! Black Hills Homes For Sale - 11/01/10 12:06 PM
 
How Far is Our Housing Market Down? ...Not Much! We hear this question a LOT:  “How much have area home values fallen during the national housing crisis?”  And the answer is:  “Not much.”  Hardly any.  Yes, volume is down in some sectors.  But Rapid City area unemployment remains one of the best in the nation, so our Black Hills homeowners are not desparate.  They’re holding on to what they’ve got. With as many as ¾ (yes, THREE FOURTHS!) of homeowners in places like Las Vegas, Miami, Phoenix deeply “under water,” their troubles are compounding upon other troubles.  Unemployment, foreclosures, business … (2 comments)

rapid city real estate: This Three Bedroom, 2 Bath home is a bright gem! 4 Sale in Box Elder. Close to Rapid City - 10/25/10 01:50 PM
Search over 3,400 Listings in the Black Hills! CLICK HERE! Search over 3,400 Listings in the Black Hills! CLICK HERE! … (0 comments)

rapid city real estate: Exceptional 132 Acre Lot with Well, Located in the Black Hills, Rapid City Real Estate - 10/25/10 01:44 PM
Search over 3,400 Listings in the
Black Hills! CLICK HERE! Search over 3,400 Listings in the
Black Hills! CLICK HERE! … (1 comments)

rapid city real estate: WOW! A 5 Bedroom 3 Bath Home at only $83 a Square Foot! Home For Sale in Rapid City - 10/25/10 01:38 PM
Search over 3,400 Listings in the Black Hills! CLICK HERE! Search over 3,400 Listings in the Black Hills! CLICK HERE! … (0 comments)

rapid city real estate: THE TOP TEN HOT-SPOTS AND NOT-SPOTS IN RAPID CITY AND BLACK HILLS REAL ESTATE - 08/11/10 08:10 PM

THE TOP TEN HOT-SPOTS AND NOT-SPOTS IN RAPID CITY AND BLACK HILLS REAL ESTATE  We did some deep diving in the data dumpster for past two years’ sales records.  If you ever wanted to know where the market is zinging and where it’s just clinging, read on. First, like any engineer I need to disclose the basis upon which this research was performed.  In order to focus on sales of “mainstream” properties we collected data on the 1,100 or so sales in the past two years of $125,000-to-$350,000 single family residences on under one acre, with 3-5 bedrooms, 2-3 bathrooms, … (0 comments)

rapid city real estate: RAPID CITY MEDIAN HOUSE COST DOWN $50,000 - 07/16/10 06:47 PM

RAPID CITY MEDIAN HOUSE COST DOWN $50,000  News reports focus on home prices.  That’s the money the seller walks away with.  But the cost to the buyer is the total of payments over 30 or 15 years.  And for most of us, the acid test is how the monthly “payment” fits our budget.   Interest rates are the lowest in 36 years.  The mortgage-makers are having a price war.  The market is shouting Buy now!  Buy now!  Buy now! Consider a typical Rapid City area median priced home, say $180,000 to $200,000.  With interest rates down to 4.8% from 5.8% not … (0 comments)

rapid city real estate: 25 Important Issues Excluded From Home Inspections - 05/12/10 12:15 AM

25 Important Issues Excluded From Home Inspections  Hiring a pre-purchase home inspection is nearly standard practice for home buyers.  However, the scope and depth of what is included or excluded from the inspection is far from standard.  No government agency or law regulates what your home inspector will ignore.  And these 25 exclusions could potentially overlook serious health, safety or value issues for your family. No home inspection can include all issues.  Some possible issues would take so long to examine, (for example, a 90-day radon test, or an air conditioning test preceding a January sale), that it would discourage … (3 comments)

rapid city real estate: HOW’S THE RAPID CITY REAL ESTATE MARKET? - 04/26/10 10:53 PM

HOW’S THE RAPID CITY REAL ESTATE MARKET?   Every day some one asks me “How’s the Rapid City real estate market?”  Sometimes the unspoken subtext is “Give me the gory bloody details!”  But there aren’t any.   As this chart shows, no surprise, the national bubble burst in May 2007.  Californians were in la-la land of free American Dreams, but the Black Hills area would have nothing of it.  Like I always answer the question, “We didn’t participate in the bubble, so we aren’t participating in the bust.”  Good ole South Dakota, just keeps loping along.  Soon as we get past … (0 comments)

rapid city real estate: THREE TOP PROBLEMS GETTING AN APPRAISAL FOR GREEN BUILDING - 04/20/10 05:12 PM
 
THE THREE TOP PROBLEMS GETTING AN APPRAISAL FOR GREEN BUILDING Green-building pays off when annual utility cost savings offset the somewhat higher initial cost.  However, getting an appraiser to help you secure a home loan for Rapid City real estate that includes green-building features, may be difficult for three reasons: 1. Lack of education by appraisers about how to estimate future utility cost savings 2. Lack of verifiable data for appraisers to consider in "comparables" 3. Lack of sophistication of MLS' and local realty boards to know how (or want to) value green building. According to Kevin Morrow, senior program manager … (0 comments)

rapid city real estate: THINKING SHORT SALE? … THE LONG TERM CONSEQUENCES - 04/12/10 09:30 PM

THINKING SHORT SALE? … THE LONG TERM CONSEQUENCES Think a “short sale” is a pain now?  That’s just the beginning.  It gets worse.  If you or someone you know is considering a short sale, it probably is best to pursue every possible creative alternative, such as family help, bartaring your time to friends for their help, or sell you big boy toys.  Here is why: When your mortgage lender agrees to a short sale, they are not necessarily agreeing to forgive your debt.  Perhaps the opposite.  They may simply be agreeing to a well-planned new stance for themselves in which … (1 comments)

rapid city real estate: WOMEN’S HISTORY MONTH:  WHITE HOUSE COUNCIL ON WOMEN AND GIRLS TO HOST WOMEN IN FINANCES SYMPOSIUM - 04/05/10 03:39 PM

WOMEN’S HISTORY MONTH:  WHITE HOUSE COUNCIL ON WOMEN AND GIRLS TO HOST WOMEN IN FINANCES SYMPOSIUM This is a great idea.  Given the mess in our nation’s mortgage markets, we could sure use some more high caliber leadership in financial policy.  From my own experiences, women have provided some of the most proficient and professional real estate financing services.  Among the many senior finance officers I have worked closely with, many of the best were the women.  My own daughter is a business consultant in a related area.  Often these days, couples are relying on the woman’s higher credit rating … (0 comments)

rapid city real estate: Homestar Energy Efficiency Retrofit Program - 03/05/10 04:45 PM
From the White House:  President Obama has announced the initiatives for HOMESTAR, a program that offers incentives for people to make their homes more energy-efficient.  According to Jetson Green, "The HOMESTAR program, first and foremost, has been designed to help three groups at the same time.  It'll help homeowners improve their real property and use less energy.  It'll help construction workers find projects and employment.  It'll help manufacturers and vendors sell green products. 
Here's more, from President Obama's web site.  Homeowners who make investments for energy-efficiency in their homes will be eligible to receive: Direct rebates for energy-saving investments 50 … (3 comments)

rapid city real estate: New Website Launched for Black Hills Market Watch – Rapid City Real Estate - 03/01/10 10:16 PM
www.BlackHillsMarketWatch.com
The Black Hills Market Watch gives you daily, weekly and monthly comprehensive analyses of the current real estate market, the historical trends, and news that affects your real estate decisions.  The real estate market in the Black Hills area is ever changing. This website will be a useful tool for anyone wanting to sell or buy a home, real estate investors, or real estate agents.
Lee Alley is the founder and team leader for Black Hills Market Watch. He is a full time real estate marketing consultant helping people make well-informed real estate decisions. He is also State-licensed as … (0 comments)

 
Lee R. Alley, Senior Advisory Broker (John L. Scott) Rainmaker large

Lee R. Alley

Senior Advisory Broker

Everett, WA

More about me…

John L. Scott

Address: 10820 Evergreen Way, Everett, WA, 98204

Mobile: (425) 238-9775

Fax: (888) 533-4030

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The purpose of this blog is to help people who are considering moving into one of the six Black Hills communities close to Rapid City, South Dakota.

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