Save Money This Winter on Those Drafty Windows in Your Black Hills Home

Do you feel a cold draft in the air of your Black Hills home? The temperature outside will continue to drop as we inch closer to winter.  Windows are notorious for air leaks that result in cold drafts that allow heat to escape, while running up your utility bill. Take a few steps now that will help your home remain a comfortable temperature and save you money at the same time

Start by locating the draft, which can easily be done by testing the seal of your windows. Make sure all windows are closed as tight as possible and locked.  Next, light a candle and place the flame just inches away from the glass of the window.  Move the candle slowly going around the seam between the window and the frame. If you see the flame flicker, then you more than likely have an air leak.  Check every window in the home.

After you have located the air leaks in the home, it is time to solve the problem.  There are multiple methods that are fairly inexpensive and can be done to help reduce air leaks.

Caulking the window is a fairly affordable option to help with air leaks. Caulk the window where it meets the surrounding cases and on the inside where it meets the wall.  If you have done this in the past it may be necessary to do it again, as caulk deteriorates over time.

Weather-stripping is another affordable option to cut down on air leaks.  This can be found at many local hardware stores.  Simply cut the strips to size and use them to fill the gaps that are between a window sash and the jamb.

Adding insulation film is a great inexpensive alternative if you do not plan to open and close the window. Typically the film goes on with double-stick tape or self-adheres.  It can be bought by the roll or there are also many special kits available for purchase.

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!

Home Buying in the Black Hills is Less Expensive Than Renting

The latest Rent vs. Buy Report by Trulia showed that homeownership continues to remain a more affordable option than renting throughout the 100 large metro areas across the nation that it collects data from.  According to the report in the United States, buying a home is 38% cheaper than renting when you factor in a 20% down payment and a low 30-year fixed-rate mortgage interest rate. Buying with a 15-year fixed-rate mortgage is an even better deal. A year ago it was 35% cheaper to buy versus rent.

It has become cheaper to buy versus rent this year as a result of mortgage rates falling and rental rates rising faster than prices when you exclude foreclosures.  When these two things are factored in it continues to be a better investment to buy a home than to rent.

Each market area in the report by Trulia has its own typical rent prices, property taxes, and home-price appreciation that were all figured into the results.   It is 17% cheaper to buy than rent in Honolulu and a staggering 63% cheaper to buy than rent in Detroit.

Historically rent prices increase when inflation hits. We will continue to see it cheaper to buy a home here in the Black Hills and across the nation.  Buy now and lock in a low mortgage rate and payment, as home prices too are expected to continue rising.

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!

Wood Stove Safety Tips for your Rapid City Home

The days are getting shorter and the chill in the air is getting colder. Before you light up the wood stove in this cold weather be sure your stove is ready to be used. If you heat your Rapid City home via a wood stove here are a few safety tips to remember.

• Look at your wood stove, stovepipe, and chimney prior to starting it for the season to be sure that are no build-ups from last season.
• Put seasoned wood in your wood stove that has been cured for at minimum six months. Wood that is green or wet could result in a build-up of creosote which can be dangerous.
• Never use an accelerant in an effort to speed up the process. Dry seasoned wood and kindling should only be used. It may be tempting to burn those old magazines, but they could release toxic fumes, so don’t.
• Vent your stove properly and insulate vent from flammable materials.
• Avoid putting dry wood near the stove.
• Check your flue regularly for any obstructions such as squirrel or bird nests, debris, etc..

Stay warm this season. If you are looking to buy or sell a Hill City home I would love to help. Contact 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. 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!

Existing Home Sales Rise to Highest Levels This Year

After seeing a large decline in existing-home sales in August, the market increased in September at the highest annual pace of 2014, according to the National Association of Realtors (NAR). Existing home sales jumped to a seasonally adjusted annualized rate of 5.17 million, up from 5.05 million annualized rate in August.

Existing home sales (which make up completed transactions, include single-family homes, townhomes, condominiums, and co-ops) increased by 2.4 percent in September. The increase in the sales of previously owned homes shows that the Black Hills housing market and the housing market across the nation is continuing to improve.

Lawrence Yun, NARs chief economist, said, “I would say one year from now, two years from now, things will be much better because we have so many factors that will support home sales,” Mr. Yun said. He pointed to strong job creation, persistently low interest rates and expanding inventory. He also reported that if credit conditions had returned to what we define as “normal”,” as defined by what lenders used for credit standards in 2000 numbers would be 10 percent higher than what we are seeing now.

Not only did existing home prices increase last month, so did median home prices for all housing types. In September the median home price was $209,700, which is up 5.6 percent over this time last year.

A drop in the lending rate of the fixed 30-year mortgage fell to numbers last seen in June of 2013, which is below 4 percent recently. The decrease is expected to impact homes sales in a positive way in the months to come.

If you are planning to sell your home this winter, you should know exactly what it’s worth before making such an important decision.  At Integrity Realty, we determine the value of Black Hills area homes daily. I’d love to talk with you about 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!