30-year Mortgage Rates Fall in Rapid City

With the spring housing market already underway, it is great news that the 30-year mortgage rate is falling here in Rapid City and across the nation.  The lower the mortgage rate the more affordable housing is for homebuyers in the Black Hills.

The average 30-year fixed-rate mortgage rate fell last week to 3.78 percent down from 3.86 percent the week prior. This keeps mortgage interest rates near historic lows according to mortgage giant Freddie Mac.  The rate of a 15-year fixed-rate mortgage, which is a popular choice among homeowners looking to refinance, dropped to 3.06 percent last week.

To put these numbers into perspective, a year ago the average 30-year fixed-rate mortgage was at 4.32 percent and the 15-year fixed-rate mortgage was at 3.32 percent.  We have continued to see low mortgage rates as a result of the Federal Reserve keeping short-term rates near zero for over the past six years.  While there is no indication from the Fed that they plan to increase rates any time soon, there are many analysts speculating that they will.

Take advantage of the low interest rates this spring and purchase your new Black Hills home now.  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!

5 Ways to Prep Your Rapid City Home to Sell This Spring

The warmer weather of spring is just around the corner and as quickly as the daffodils pop up so do real estate “For Sale” signs. Here are 5 ways you can prep your Rapid City home to sell this spring.

Spring Clean

Now is the time to do a deep cleaning of your home. Clean the inside and outside of your windows. Determine if a fresh coat of paint is needed throughout your Rapid City home to freshen it up. If your home has tile, now is the time to clean the grout. Have your carpets professionally cleaned.

After you have done the spring cleaning inside, move outside and spruce up your landscaping. Hiring a professional landscaper to come in and spruce up the exterior of your home will help your home make a great first impression. Curb-appeal can make or break the sale of a home.

Clutter

Once all the cleaning is done, start removing clutter from your home. If your goal is truly to move then now is the time to start packing. Rent a small storage space and begin moving out any oversized furniture that is in your home or any unneeded items that will not be used in the next six months. Remove all items from your countertops and any personal items that would make it hard for future homeowners to envision living there.

Colors

Make sure the colors throughout your home all match. In the past beige and white were the only colors recommended in a home, but bringing color in is getting more and more popular. Going bold with color is okay as long as everything matches. Do your bedspread and throw pillows match the color of your room? Use small details to bring the whole room together.

Inspection

On most occasions, a potential homebuyer will get a home inspection prior to buying your home. Do not be caught off guard. Take the initiative to get your own home inspection done. By doing this you can know ahead of time if there are any small or big fixes that need to be done. In a tight competitive market you do not want to lose a sale over a small thing found on a home inspection.

Nature

Bring a little bit of nature inside. A few potted plants and a vase of flowers can bring great energy to a space. Plants are ideal to put in those dead corner spaces in a room.

I am a local expert in the Black Hills region and can help you sell your home this spring. 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 Vacation 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!

Soccer Complex in Rapid City Closer to Reality

Good news Rapid City residents!  A 12-field soccer complex along Elk Vale Road and Interstate 90 will soon become a reality. The idea of the complex which started in 2005, when the City Council approved $3.8 million in Vision Fund money for Soccer Rapid City, is set to become a reality by spring 2016.

Rapid City council recently approved another $600,000 in funds for what has now become a nearly $6 million project.  The funds will come from local sales tax revenues.  The city has to date approved nearly $4.4 million in public financing, which includes the latest $600,000 in Vison Fund money, towards the building of the soccer complex.

Originally the group had envisioned building a 25-field soccer complex for upwards of $10 million. In 2013, the organization changed their plans to a 12-field complex with the opportunity to expand in the future when more money becomes available. City Engineer Rod Johnson said, “In the end, the $3.8 million wasn’t enough to cover the city’s end of the public-private project. To me that original $3.8 million didn’t really reflect the cost of the project that, ultimately, we came up with.”

The city will be breaking down their portion of work on the project into two phases. The first will include grading the site, irrigation and underground utilities work.  In the second phase, the city will contract with local Rapid City company J & J Asphalt to handle the parking, sidewalk, road improvements, and drainage amenities.

Currently Soccer Rapid City is in the process of raising private funds so that concession stands and bathrooms can be built at the site.  The complex is expected to be open for usage in spring 2016.

Rapid City, Hill City, Black Hills and surrounding areas…all great places for homes or vacation homes. If you are ready to buy a first home, vacation or investment property; or just have questions on if it’s the right choice for you – I’d love to talk with 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!

Memorial Day Reservations now Available at South Dakota State Parks

Spring is around the corner, and warmer weather will be here before we know it. Now is the time to start thinking about the upcoming camping season. South Dakota state parks are now taking reservations for Memorial Day.  Reservations for campsites and cabins can be made through the www.CampSD.com website or by calling 800-710-CAMP (2267).

Typically Memorial Day has been looked at as the first weekend of the year to get out and enjoy camping in South Dakota state parks. Residents of the Black Hills should book early as the holiday weekend fills up fast. Reservations from May 22-24 require at least a three-night stay.

Reservations can be made 90 days out at all South Dakota state parks, except for Custer State Park which allows for reservations to be made a year out.

You do not have to wait until Memorial Day to get out and enjoy South Dakota state parks. Now is the perfect time to head to the state parks for snowmobiling, which is available till March 31st. With over 1500 miles of trails there is something to offer everyone. The Black Hills trail system is one of the most popular in the nation.

Snowshoeing is another easy yet enjoyable way to get out and explore the trails that the South Dakota state park system has to offer.  To make it easy for everyone many locations offer snowshoes to check out that fit youth to adult.

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!