Enjoy the Black Hills Any Time of Year – February is No Exception

You may think that the Black Hills region is just for summer fun but that couldn’t be farther from the truth. Locals who live here year-around know that there is something for everyone no matter the season.  If you are thinking of investing in a Black Hills vacation home, now is a great time to buy! Rest assured, you will have plenty of reasons to visit each season!

February has some great events in Rapid City and Hill City that you won’t want to miss.

Black Hills Stock Show & Rodeo
The Black Hills Stock Show & Rodeo ® is the second largest event in the state of South Dakota following the Sturgis Motorcycle Rally. It’s a 10-day event ending February 9, 2014 and is anticipated to host 331,000 people.

This PRCA rodeo has been nominated 15 times as PRCA’s “Large Indoor Rodeo of the Year”, winning this award twice! It promises a good time for the whole family!

The stock show features over 96 different agriculture oriented events such as the Ranch Rodeo, Bronc Match, and Sheep Dog Trials. There will also be nearly 300 vendors during the tradeshow selling everything from fine arts to front-loaders. Kids can enjoy some one-on-one time with a variety of animals in the Barnyard Petting Zoo. You can also round off the night with a concert featuring Chancey Williams and the Younger Brother with Dirty Word.

The Black Hills Stock Show & Rodeo is held at the James Kjerstad Event Center on the Central States Fairgrounds & Rushmore Plaza Civic Center in Rapid City. Check out their Event Calendar to plan a full day at this great event!

Main Street Square Ice Skating
There’s something about ice-skating in an outdoor rink and enjoying a cup of hot cocoa that brings you back to a simpler time. Whether it’s family time, bringing a date, or purely just an outing with friends, you will be sure to find fun at the Main Street Square Rink.

The rink is located at Main Street Square – 512 Main Street – Rapid City and is open till February 22, 2014. Hours may vary so be sure to check out their website for hours and rates.

Black Hills Photography Club Exhibit
If the arts and activities inside are more your speed, check out the Black Hills Photography Club Exhibit. It supports the photographic arts throughout the Black Hills region. The exhibit showcases over 100 artists with skill levels ranging from novice through Master Photographer.

The exhibit runs through February 24, 2014 in the event room at the Prairie Berry Winery in Hill City.  Make it a date and stay for dinner or appetizers from Prairie Berry’s Kitchen while you enjoy some art. Pieces are available for purchase as well.

Whether you are looking for a year-around home, land, investment or vacation home, our expertise in the Black Hills or Rapid City markets will ensure you a stress-free experience. Contact me, Jim Peterson, at (605) 574-4444 or email me to discuss how I can help you with all your real estate needs. My office is in the heart of Hill City and as a tourist spot, restrooms are hard to find – mine are always open for your convenience!

Get Smart Before Listing Your Black Hills Home

If you’ve decided to sell your Black Hills home, there are some ways you can start off on the right foot to work as a team with your Realtor® to help position your home the best way possible. Sure, your agent is the expert in marketing your home but giving them some pertinent information up front can go a long way in getting your home listed and sold quickly.

Know what your home is worth. Integrity Realty will offer a Comparative Market Analysis (CMA) of what your Black Hills home is worth. However, it’s smart to do a little digging yourself as to what your neighbor’s are selling for. Of course you have an emotional connection to your home, and sometimes these emotions can play a part in what you feel your listing price should be instead of going by the facts.

Know your bottom line before listing. It’s helpful for your Realtor® to know your bottom line in selling price. If you would rather keep that information to yourself, it’s still easy enough for you to get the payoff amount from your current mortgage lender so that you can determine whether to accept an offer or present a counter-offer.

Educate your Realtor® on updates and renovations. Many times the improvements and upgrades you have made while living in the home can be used to determine the listing price. In some cases, renovations can be worth more than what you initially invested, or at the very least can be used to highlight the home and make it stand out among the comparables.

Take care of any liens or disputes before listing your Black Hills home. Although any good real estate agent will ask, it’s important to do some research and find out if, in fact, there are any tax issues or any types of liens that may have been put on the house due to disputes or discrepancies with contractors or creditors. Your Realtor® may be able to help clear them up and resolve any issues that would come up in closing.

Make a flexible schedule for showings. Listing your home means showing your home to potential buyers. It’s important to have your home show-ready at all times and be as flexible as possible with your schedule. Take all occupants in your house into consideration; including your pets. Keeping those pets at a friend’s, neighbors, or doggy day-care may be worth it so that your home is available during the day while you’re at work. Pre-plan meals and have a “necessity bag” available just in case someone wants to see your home in the evening hours and you need to leave in a hurry.

At Integrity Realty, we determine the value of Black Hills area homes daily. I’d love to talk with you about giving you a Comparative Market Analysis of your home to determine the best course of action for you. Our expertise in the Black Hills or Rapid City markets will ensure you a stress-free experience. Contact me, Jim Peterson, at (605) 574-4444 or email me to discuss how I can help you with all your real estate needs. My office is in the heart of Hill City and as a tourist spot, restrooms are hard to find – mine are always open for your convenience!

South Dakota is Top in Growth for the Nation

The numbers are in and it’s official ~ South Dakota rocks!! If you are in the market for a new Black Hills home, now is the time to buy before inventory gets slim. More and more people are coming to South Dakota thanks to the low cost of living, great school systems and prime investment opportunities.

Don’t just take my word for it. According to the new US Census, South Dakota has the 6^th fastest growing population in the nation. While the nation’s average is 2.2% in growth, South Dakota’s population grew by 3.5% in the past three years, to 844,877 people.

When asked about the boom, President of the Realtor Association of the Sioux Empire, Brandon Martens had this to say, “Obviously there’s no state income tax, which helps a lot of businesses and a lot of the people coming to the area. As well as land costs, the fact that we really did not have a housing bubble, we just kind of weathered the storm and I think that really attracted people to South Dakota.”

There is more new home construction in the Black Hills area as well as fabulous resale’s, lots of land for building your own dream home, and vacation homes if you cannot reside here year-round. If you are looking for an investment or to start your own business, you will want to trust a local Realtor® to give you the best possibilities to achieve success in your new venture.

If you are ready to buy your new home in the Black Hills Area, I’d love to talk with you. Whether you are interested in homes in Hill City, Custer homes for sale, or Rapid City new homes, we can give you the most comprehensive listings that meet your criteria. Our expertise in the Black Hills or Rapid City markets will ensure you a stress-free experience. Contact me, Jim Peterson, at (605) 574-4444 or email me to discuss how I can help you with all your real estate needs. My office is in the heart of Hill City and as a tourist spot, restrooms are hard to find – mine are always open for your convenience!

New Year, New Mortgage Rule

As you may have heard, there are new mortgage regulations heading our way, but how will this impact Black Hills homebuyers, Realtors, and lenders? If you’re in the market for a new home, the next time you head to the bank for a new mortgage loan, the lender may be asking just a few more personal questions. This is all thanks to the new Ability to Repay rule that lenders are now subject to under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under this new rule, lenders are now held accountable for the loans they make, and they must be able to prove that their borrowers can actually repay it. Lenders can even be asked to buy back a loan if they make a mistake. The only way to protect themselves from these buybacks is to now follow a strict set of rules.

Basically it comes down to this, as of January 10, 2014; lenders are now prohibited from making a higher-priced mortgage loan without regard for the home-buyer’sability to repay. The debt-to-income ratio must be 43% or less, and it limits the fee that can be charged by a lender to just 3% of the total amount of the loan. Also, loan terms that are greater than 30 years, interest-only loans, and negative-amortization are no longer available since they do not meet the guidelines of a “qualified mortgage.”

I know that some of this may be confusing, but we are always here to help if you have any questions.

I am a local expert in the Black Hills region and can help you sell your Black Hills home. Call me, Jim Peterson, at (605) 574-4444 or email me to discuss how I can help you with all your real estate needs. Our expertise in the Black Hills or Rapid City markets will ensure you a stress-free experience in selling your Black Hills Home. My office is in the heart of Hill City and as a tourist spot, restrooms are hard to find – mine are always open for your convenience!

Happy New Year from all of us at Integrity Realty!