5 Successful Tips for Selling Your Black Hills Home in 2015

If selling your Black Hills home is on your list of things to do in 2015, then you may be surprised to know that the housing market has probably changed since you last sold a home. Here are five successful tips to help you sell your Black Hills home quickly in today’s housing market.

Timing

Many sellers think they are ready to sell their Rapid City home, yet  some find they have not fully gone through the process of thinking through the whole thing.  What would happen if your home sold tomorrow? Do you have a place to go? Have you de-cluttered your home so that it shows at its best? All too often sellers put their home on the market before they are really ready to sell, and as a result it comes back to hurt them.

Mobile Friendly

Gone are the days where searching for a home starts with looking through the daily paper.  In today’s housing market home searches start with a mobile friendly device such as a tablet or smartphone.  To get the best buyer activity on your listing it is essential that the photos of your home are mobile friendly. Using an experienced real estate agent, such as myself, you can be assured your home will show its best on any mobile device.

Emotions in Check

While living in your home you have, without a doubt, experienced a lot of life events and you may have built an emotional bond with your home. When it comes time to sell, it’s time to put those emotions in check. Think of your home as in investment. Sellers who are too sentimentally attached to their home may reject a great offer or not negotiate with a serious buyer.

Best Impression

In today’s digital world making the best first impression is a must. Many home buyers are set up to receive email notifications when a home that meets their criteria hits the market.  The last thing they want to receive is an email about your perfect home with no photos.  Your first online impression needs to be the best.

Using a Realtor

You may be tempted to try to sell your home on your own, but in the end hiring an experienced Realtor can save you money and stress. Hiring the right real estate agent can make all the difference.

As either a Buyers Agent or Listing Agent, we are committed to making your real estate experience as stress-free as possible.

We believe everyone should have success in their real estate transactions and we’re confident that with our experience in this area, and in real estate, we can help you fulfill your goals.

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!

FHA Mortgage Insurance Fees Drop

Housing in the Black Hills just got more affordable as the Federal Housing Administration plans to make a drastic cut to the fees that are associated with the mortgage that it backs.  The agency will be dropping the premiums on new mortgages from 1.35% to 0.85% of the total loan amount.  This comes after they raised insurance premiums during the most recent housing market crash.

The new lower rates are set to decrease, on average, $900 off a FHA borrower’s annual payment. The number is based on a $200,000 loan with a 30-year fixed rate loan, with the borrower having less than 5% down.  With these numbers the borrower would save $818 a year and close to $7,500 over a decade, according to real estate website Zillow.

Existing homeowners in Rapid City and across the nation who choose to refinance their mortgage loan into an FHA loan will receive similar savings.

The rate cute scheduled by the FHA is expected to impact nearly 800,000 homeowners nationwide, and White House officials are expecting nearly 250,000 new home mortgage loans over the next three years under the new rate.

“Too many creditworthy families who can afford — and want to purchase — a home are shut out of homeownership opportunities due to today’s tight lending market,” the White House said.

The role of the FHA is to back home loans and in turn they charge borrowers a fee that covers the cost of insuring the lenders in the instance that the borrower should default on the loan.  An FHA backed loan is popular as it allows borrowers to only put down as little as 3.5% of the home price. However, in the past the higher mortgage insurance rates with these loans have made the loan less attractive to potential borrowers.

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!

Mortgage Interest Rates in Rapid City Start 2015 at a 19 month Low

If you are planning on buying a home in Rapid City in 2015 then now may be the time.  Last week mortgage rates across the nation dropped to a level last seen nearly 19 months ago. Rates dropped as low as 3.58 percent for a 30-year fixed-rate mortgage, according to the Mortgage Rate Ticker provided by Zillow.  The average rate of the 15-year fixed-rate mortgage also decreased to 3.05 percent down from 3.15 percent the week prior.

The lower the interest rate of your Rapid City home mortgage the less you will pay monthly and it could potentially increase the amount you can afford to borrow.

“Rates fell dramatically last week primarily due to fears of slowing global growth, weak equity markets, falling oil prices and low market activity over the New Year’s holiday,” Lantz is quoted as saying in a news release from Zillow. “Given the recent history of markets largely overlooking strong U.S. data, we expect rates to remain flat or fall slightly this week on international news.”

If you are planning on buying a new home in the Black Hills, it is always a good idea to first start by finding out how much you can afford and receive prior loan approval. Begin by checking your credit score for accuracy.  If it is not as high as you would like start making little changes now to increase your score.

It’s still a great time to buy a Black Hills home, vacation home or investment property! Take advantage of the low interest rates before home prices continue to rise. Our expertise in the Black Hills or Rapid City markets will ensure you a stress-free experience. Contact Jim Peterson at (605) 574-4444 or June Johnson at (605) 786-7356 at Integrity Realty Team, or email us to discuss how we can help you with all your real estate needs.

Our office is in the heart of Hill City and as a tourist spot, restrooms are hard to find – ours are always open for your convenience! Like us on Facebook to stay current on all upcoming events!

5 Tips to Help Black Hill Residents Raise Their Credit Score This Year

If you are looking to purchase a home in the Black Hills and your credit score is impacting you from getting a mortgage loan then here are a few tips to help you raise your credit score in 2015.

1. Debt Reduction

A large factor of your credit score is your debt-to-income ratio.  The smaller the percentage this ratio is the better. It is ideal that your debt-to-income ratio be no larger than 20% to 25%. Evaluate your finances and if you’re above that number then make it your goal this year to decrease it. Start by looking at your monthly expenses and try to find ways to reduce it.

2. Credit Reports

It is important to know where you stand when it comes to your credit score and number. Start by requesting a copy of your credit report from all three credit reporting agencies. Under federal law you are allowed to get a credit report for free once a year. It is a smart idea to check your credit report with all three credit reporting agencies. Your overall credit score is determined based on reports from all of them. This is why it is important that all three agencies have the correct information.

3. Don’t Be Late

Another way to improve your credit score is to pay all your bills on time. If you tend to forget and you pay monthly bills late set up a reminder for yourself, or see if there is a way to create an automatic bill payment system. Nearly 35% of your credit score is made up based on how timely you pay your bills.

4. Increase Limits

Your credit card limits are looked at by credit reporting agencies, and they impact your overall credit. Increasing your credit limits on your credit cards will help reduce your total debt usage ratio. However, just because you have a higher credit limit that does not mean that you should use it.

5. Old Credit Cards

Do you have an old credit card that you seem not to use anymore? Do not close it out as it could potentially have a negative impact on your credit score. With that being said it is also not a good idea to apply and obtain new credit cards frequently.

Being a smart and savvy consumer will boost your credit score. 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 Jim Peterson at (605) 574-4444 or June Johnson at (605) 786-7356, or email us to discuss how we can help you with all your real estate needs. Our office is in the heart of Hill City and as a tourist spot, restrooms are hard to find – ours are always open for your convenience!