What to Know About Living in a Black Hills Community With a HOA

If you are looking to purchase a single-family home, townhome, or condominium in a modern development in the Black Hills, you’re more than likely to find that you are going to be part of a community association. In fact, nearly 20 percent of Americans are living in a community that is governed by some form of an association according to the Community Associations Institute (CAI).

If you choose to purchase a property that is governed by a community association, it is essential that you read the governing document before buying as it could dictate things such as the number of pets you can own to the type of plants you plant in your yard.  These associations are customarily put into place by the developers of the community and are turned over to a volunteer board comprised of homeowners once the development is complete.

A Home Owner Association (HOA) may not be for everyone, but the CAI reported in their 2014 survey that 64 percent of residents are happy with their experience in their HOA, 26 percent are neutral, and 10 percent are dissatisfied.  The survey also noted that the common disagreement homeowners had with their association was in regards to landscaping, parking, finance, and architectural issues.

If you are considering purchasing a property with a homeowners association here are some tips you need to know:

1. The Rules– Before purchasing a home in an association, read and understand all the rules that are put into place and that you are expected to follow. Can you live with a set of rules that dictate how many and what type of pets you can have, where you can park, and other similar things?
2. Communicate– After you have moved in, if there is an issue with a neighbor following the rules and regulations talk to them first before taking the complaint to your governing board.
3. Volunteer– An HOA is run mostly by volunteers, so get involved and be active.
4. Change of Rules- if there is a set of rules that you feel are not right for your community more than likely there are others living there who feel the same. The board should review their rules every few years. Get with your neighbors and petition the board for a change if there is something that needs to be reviewed.
5. Have a plan- It is a good idea for a governing body to plan ahead for repairs that may need to be done in the future such as roads, pools, and roofs. If the funds are not available for these repairs an extra assessment will be necessary.

If you are looking to build a new home consider Sunset Creek. 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!

Black Hills Music Festival Memorial Day Weekend

Memorial Day is right around the corner and for many it is the unofficial start of summer. If you‘re looking for something to do this holiday, consider joining other fellow Black Hills residents by attending the Black Hills Music Festival.

This two-day festival aims to bring the spirit of national music festivals to the Black Hills for the first time. Inspired by other large events such as Coachella, Bonnaroo, and Woodstock, festival organizers were motivated to bring about something similar to the area.

The event will take place at the Elkhorn Ridge RV Resort in Spearfish over Memorial Day weekend.  The two-day event will feature live music from various artists. Attendees will hear a variety of music including Alternative, Country, Folk, Pop, Bluegrass, and Rock. A wide array of vendors will be on site offering food and beverage. There will also be games and activities. There is sure to be something for everyone.

For more information about the upcoming Black Hills Music Festival and to see the lineup for this weekend’s event visit here.

We are local experts in the Black Hills region and can help you buy your first Black Hills home. Call us at (605) 574-4444 or email me to discuss how we 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 when selling your Black Hills Home. 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!

First-time Homebuyers in the Black Hills Return in 2015

2015 is being known as the year that the first-time homebuyers are reentering the market.  Being pushed out of the real estate market due to strict lending standards after the financial crisis, first-time homebuyers are once again entering the Black Hills housing market. These buyers across the nation are seeing more favorable market conditions than we have seen in many years. Here are 4 reasons why many economists predict that we will continue to see more first-time buyers back in the market this year.

1. Lending– At the end of 2014 Fannie Mae and Freddie Mac put in place new lending guidelines that have made home ownership more obtainable for many across the country. The new 3% down payment option has made it easier on first-time homebuyers to obtain a mortgage loan. Not only have lending standards eased, the job market has strengthened opening the door to bring more homebuyers into the market.
2. Availability– The number of available homes on the market has been down in the past year, but that is changing. Home builders in the Black Hills and across the nations are building more homes, and many are targeting entry-level buyers by building smaller homes.
3. Prices– Home prices are slowly rising, but continue to be very affordable. With the improving economy and continued low interest rates, 2015 is the perfect time to purchase a new home.
4. Mortgage Rates– Mortgage rates have continued to remain low throughout the first quarter of 2015, but they are expected to rise at some point this year. With the anticipated rate hike many first-time homebuyers who were on the fence are expected to purchase before the rates increase.

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!

Black Hills Film Festival Set To Run May 6-12, 2015

In its sixth year, the Black Hills Film Festival (BHFF) is set to run from May 6-10, 2015. The event will take place in Rapid City and Hill City. The lineup for the BHFF includes more than 30 films of a wide variety such as: documentaries, shorts, and feature films from right here in South Dakota, as well as from around the world.

Popular this year will be a special presentation of the classic film Union Pacific by Cecil B. DeMile. Known for more than 30 years as the go-to man in Hollywood for trains, Jim Clark, will be hosting a session called “Trains in the Movies.”  Also speaking throughout the event are numerous other notable filmmakers. A full list of speakers can be found here. Nearly 20% of films shown during the festival are comprised of films regarding Native Americans and the South Dakota living experience.

Not only will you have the opportunity to watch many great films, you too will be able to meet many filmmakers that are featured this year as they will be available after the film shows to answer questions from the audience. Filmmakers will also be conducting seminars on everything from art of movie-making to after-parties.

Tickets for the 2015 Black Hills Film Festival are on sale now and can be purchased here.

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!