Avoid Common Mortgage Mistakes in Black Hills Home Buying

We all make financial blunders in our life, wishing we hadn’t splurged on that TV or the impulse purchases we made at the grocery store. We learn from the small mistakes and move on. However, there are larger gaffes that we definitely want to avoid when buying a Black Hills home.

Over-Committing on Your New Home
While you may be able to afford that large house on paper, what makes sense for your lifestyle in everyday life and allotting for extra savings can be another thing. Buying too much house can leave you “house poor,” meaning your monthly housing expenses use up most of your residual income.

Don’t forget that owning a home means other expenses on that home each month and throwing all your income into a mortgage payment can leave you one emergency away from financial ruin. Make sure you have discretionary funds to cover your needs after you’ve paid the major expenses each month.

No one can predict losing a job or facing medical emergencies. Buying a home that affords you the space you need, the ability to update at your own pace and allows you to stay current on your new mortgage while meeting other obligations each month are the keys to being a successful homebuyer.

Skimping on a Home Inspection
In most areas, home inspections aren’t mandatory but that doesn’t mean they should be ignored. Professional inspectors have the expertise to uncover all types of defects and potential problems lurking in that potential new home.

Investing in a home inspection now can save you thousands of dollars in the long run. You can also use that home inspection report as a negotiating tool with the seller to get certain things fixed, negotiate price or to walk away completely from the deal if a major problem is found with the house.

Being Blind to Your Options
A local Realtor® not only can help you with their knowledge of local areas and where to buy, they can also help educate you on your home loan options.

Millions of veterans and service members have access to the historic VA loan program and may not know it. This program offers no down payment, no mortgage insurance and accepts lower credit scores than conventional financing.

There are other local and state home buying assistance programs that you may not be aware of that can help you with your new home loan including a USDA Rural Development Home Loan.

Learning all the mortgage options available allows for sound decision-making and a smooth pre-approval process to make the home buying process easier in the end while saving you money.

Be prepared and realistic with your home buying goals and trust in an experienced Realtor® to help guide you through the process. 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 Basic Repairs to Boost Your Black Hills Home to Sell

If you are going to take advantage of the great Black Hills housing market and sell your home this summer, inventory is increasing. In April, for-sale inventory in the US increased 4.1% from the previous month and we continue to see month-over-month increases.

This means that there’s more competition when selling your home this summer so be sure to make those little repairs you’ve meant to do, but never made a priority … until now.

Make sure your home makes the top list for Black Hills buyer’s this summer.These 5 basic repairs will help prepare your Black Hills house for the pickiest of buyers:

Clear and Caulk Gutters
After the rains we’ve been having this summer, your gutters most likely need some attention. Clean the debris that’s accumulated in your gutters so that water has a clear path out and away from the home. Make sure to check for leaks, cracks and any other damages to repair. Re-caulk the gutter end caps so that leaking down the side of your home is avoided.

Queue Up Your Entrance
The entrance into your home is one of the first impressions for buyers. Buyers will notice signs of neglect with sagging screen doors and poorly maintained porches.

Make sure everything at the entrance is in good working order. If the screen door has seen better days, it’s best to install a new one or replace the screen part. Check for any missing or corroded hinge screws and make sure the screen closes properly on its own.

A fresh coat of paint on the front door with newly installed handles and locks goes a long way towards making a great first impression. Freshly potted flowers and a nicely swept porch make potential buyers want to enter and see the rest of the home.

Repair Holes and Freshen Paint
Repairing all the nail holes throughout the house and giving all the tired walls a fresh coat of neutral color paint will bring new life into your Black Hills house. Not only will it make the home look newer, it will make it look cleaner and brighter as well. These are things buyers notice immediately and will appreciate as it’s one less thing for them to do upon moving in.

Renew those Baseboards
Scratched and beat-up baseboards can detract buyers from seeing all the good things your home has to offer. The first step is cleaning all the smudges and dust from those baseboards. Then you can fill in any dents and deep gouges with spackle. Finally, painting all the baseboards throughout the home with an eggshell finish can really go a long way in making the home look crisp and clean.

Bring New Life to Cabinets
Not looking to completely replace those worn out cabinets? You can quickly improve the look of your cabinets with an application of products that are made to even-out the surface color and blend scratches. If you want to take it a step further, new knobs and handles can help to give the allusion that your cabinets are newer and will give the rooms a modern, updated look.

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 usto 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!

 

Founding Fathers in Black Hills Tops New Events for Independence Day

If you are looking for something to do July 4^th in the Black Hills region, you don’t have to look far. Endless beauty, six national parks and monuments, abundant wildlife, are just a few of the things that Black Hills can boast about that make the region so popular.

On the Fourth of July, we kick up the American Pride in full Black Hills fashion. Although Mt. Rushmore, Hill City, Spearfish, and Wall may not be having fireworks displays this year, it doesn’t mean there’s any less family fun to be had with parades, festivals and rodeo!

The newest tourist attraction taking place Friday July 4^th can be found in the Black Hills, Independence Hall in which a 2,300 lb replica of the liberty bell was recently hung outside of the Black Hills’ own Independence Hall, located at 9815 S. Highway 16. Visitors to the Black Hills’ newest patriotic tourism attraction can also hear a free dramatic reading of the Declaration of Independence by a signer of the Declaration re-enactor that will be followed by the ceremonial ringing of the bell.

At Main Street Square, a celebration will honor past and present military personnel from 2 PM till 8 PM.

However, if you’re looking for fireworks, head down to post 22 for the annual firework show which takes place this Thursday. Elks golf course will hold a firework show on Saturday.

Here are just a few of the events posted below. For a full listing of events around the Black Hills, be sure to check out this Event Calendar to make your plans now.

Post 22 will hold fireworks on Thursday, July 3 at dusk

Arrowhead Golf Course will hold fireworks on Friday, July 4 at dusk

Elks Golf Course will hold fireworks on Saturday, July 5 at dusk

Crazy Horse will not be doing a fireworks display on July 4 in the evening but will hold a Special Mountain Blast at 1:04 p.m. in celebration of Independence Day.

Lead will hold a City fireworks display in conjunction with their Gold Camp Jubilee Days between 9:15 p.m. and 9:45 p.m. on July 4at Manuel Bros Park in front of the Open Cut.

Custer will hold a City fireworks display on July 4.  The display will be held at Pageant Hill at dark, around 9:30 p.m.

Sturgis will have fireworks on July 4 at dusk. They are based out of the Sturgis Fairgrounds on Ball Park Road.

Belle Fourche will hold a City fireworks display on Saturday, July 5 at dusk following the Black Hills Roundup rodeo. If you are attending the Rodeo, you may park at the Rodeo Grounds, otherwise parking is limited and it is suggested to park in residential areas and walk towards the library.

Summer also means the housing market is red hot. Home prices are rising month over month and inventory is gaining. 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 usto 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!

July Events Promise Black Hills Fun

Summer is full of activities in and around the Black Hills region and the month of July is no exception. The fun begins with a weeklong celebration around Independence Day with the Black Hills Roundup and continues into the following weekend with the Heart of the Hills Parade & Logging Show.

July 3-6 is the Black Hills Roundup in Belle Fourche where thousands of local residents, as well as people from across the country and abroad, come to help celebrate the 4^th of July. This oldest continuously-held outdoor rodeo in America is one of the great local pastimes and is great entertainment for the entire family.

This event features top-ranked cowboys and cowgirls competing in barrel races, bareback riding, steer wrestling, bull riding, team roping and more. This year’s world-class livestock will again be provided by Hank and Lori Franzen of Powder River Rodeo and D&H Cattle Company.

The festivities don’t end there. The whole family can also enjoy a week-long carnival, a mile-long parade, BBQ, the Miss Rodeo South Dakota contest and a huge Independence Day fireworks display!

On Saturday July 12, 2014 you can help Hill City celebrate with the Heart of the Hills Parade & Logging Show. Don’t miss the parade that starts at 9am on historic Main Street Then stick around for the logging show at Noon at the Chute Rooster Amphitheater grounds. The logging show is an annual must-see with an exciting axe throw, Choker race, pole tosses, tree falling, logging truck events and more.

Bring your lawn chairs, picnic blanket and umbrella’s to enjoy the show. Bring water to stay hydrated in the heat but enjoy the plethora of local food vendors that will be at the event. Keep the kids busy looking for coins in the sawdust pile.

Summer also means the housing market is red hot. Home prices are rising month over month and inventory is gaining. 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!

South Dakota – Parent to New State Park?

South Dakota and the Black Hills are known for their wide open spaces, state parks, and beautiful backdrops everywhere you look. Now, South Dakota may become a proud parent to another state park with Spearfish Canyon in the Black Hills.

Homestake Mining Co. officials are in negotiations to sell two large parcels of their land located in Spearfish Canyon. These both would be placed into public ownership.

In a briefing last week by two top officials from the state Game, Fish and Park Department, the Spearfish Canyon Foundation would purchase a 73-acre tract, that includes Spearfish Falls, and donate it the department. This is according to Doug Hofer, director for the state Division of Parks and Recreation and likely largest builder of South Dakota’s system of state parks and recreation areas.

The property was appraised at $1,225,000 but foundation officials are attempting to secure it for a smaller amount, Hofer said.

This part of the canyon covers more than a mile and would connect two tracts that were previously purchased in 2004 by GF&P from Homestake at Roughlock Falls and Savoy. The combined totals would be 128 acres surrounded by U.S. Forest Service lands.

The department would also directly purchase a second pacel of 33 acres from Homestake including 3,200 feet of Spearfish Creek at the old Hydro 2 power-plant work in the Canyon. The appraisal currently is $430,000.

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!

Successfully Buy or Sell a Second Black Hills Home from Afar

There’s a good portion of the Black Hills population that is made up of second homeowners.This is truly a great place to have a vacation home for both winter and summer activities! If you’ve been contemplating a vacation home, or if you’re ready to sell the Black Hills home you already own, you needn’t be worried about how to do that from another state. Here are some tips to help you on your way.

The first and most important thing to do is to retain the services of a professional Realtor® who is an expert in the area. Do a bit of research to find a person with whom you can form a solid working relationship and you feel comfortable with. Referrals from other out-of-state buyers and local homeowners are a great way to find a trusted agent.

While interviewing agents, be sure to find out specifically how they plan to work with you from a distance. The agent should be able to use both electronic and traditional ways of interacting with you. If you’re buying a Black Hills home, the agent should also be asking you very specific questions about the type of property, amount of land and specific areas where you want to purchase. They also should be educating you on the best communities to fit your needs and what to expect for each season in terms of weather and upkeep.

If you’re selling your home, the agent you choose should have access to reliable contractors to make any repairs that the home needs, and also to stage it so that it looks its best for showings. Make sure you have a plan for regular, frequent updates about the progress of your listing.

Any agent worth using will also be able to help you through the closing process with a reliable closing provider. You may want to ask for this up front so that you can do a little homework of your own before that time comes.

Our team at Integrity Realty has over 15 years of experience with second homeowners and a love & respect for our South Dakota land. 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. 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!

Remain Calm While Selling Your Black Hills Home

Selling your home often ranks right up there on the stress scale along with other major life changes, but it really doesn’t have to be like that. Listed below are a few simple tips that can help you minimize the stress of listing and selling your Black Hills home.

First, and maybe most importantly, let your Realtor® take the wheel. Jim & June at Integrity Realty are professionals trained to help you buy and sell property. Making sure your agent is qualified should be the deciding factor. A good agent will know your market, and they will have lots of ideas about how best to show your home’s advantages to just the right demographic.

It can be intrusive having people you don’t know come into your home with a critical eye. Before you let anyone in the door, do a little prep work to simplify the process. De-clutter your home, even if it means getting a temporary off-site storage space. Make checklists for the sale of your home, your move, and any other daily routines that are important to keep going during this process.

Include a quick list for a quick clean up in case a last minute showing comes calling. Keeping plenty of paper towels and cleaning wipes on hand can help to make a quick clean-up go more smoothly. You may also want to eat out more often during this time to help keep your kitchen clean.

Give yourself a break. We’re at a great advantage in the Black Hills with our beautiful sights, local parks, and great shops in Hill City. Take walks, go for a drive or do some sidewalk shopping. If you can manage it, get away for a long weekend. Sometimes just being physically away from your home can help you get things back into perspective.

If fishing is the best way to help take your mind off your worries, May 17-19 is free admission to South Dakota parks and fishing areas. Anglers can fish without a license anywhere in the state, and entrance fees are waived for all visitors to South Dakota’s state parks and recreation areas. But camping fees, fishing regulations, and limits still apply.

Selling your Black Hills home doesn’t need to send you over the edge. We can help you keep your calm. 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 meto 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!

2014 Leadership Summit at BHSU

Those who live in the Black Hills enjoy a unique lifestyle. We take advantage of our beautiful surroundings by enjoying the mountains, the fishing, the wildlife and the slower pace of small town living. What many people may not realize is that we also have the advantage of larger cities within our reach and learning how we can become leaders not only in our community but around the world.

On Friday May 9, Black Hills State University is hosting a live simulcast of the 2014 Leadership Summit. This one-day leadership event will be broadcasted live from Atlanta to hundreds of locations around the world.

Leadercast was built on a belief that the world needs better leaders – leaders worth following. It exists to positively change the way the world thinks about leadership. This year’s theme of “Beyond You” challenges leaders to leverage their influence and focus outward rather than inward.

Dr. Mitch Hopewell, interim director of distance education graduate programs, supports BHSU hosting so that local faculty, staff, students and community members can access the knowledge and experience of world renowned leaders including former First Lady Laura Bush and Archbishop Desmond Tutu.

“The internationally recognized speakers come from a wide spectrum of leadership perspectives; everyone will learn something,” Hopewell said.

Speakers include:

• Andy Stanley, Leadership author and communicator
• Archbishop Desmond Tutu, Nobel laureate & human rights activist live from Cape Town, South Africa
• Malcolm Gladwell, Journalist and best-selling author of The Tipping Point and Outliers
• Randall Wallace, Screenwriter, director, producer & songwriter (Braveheart, Secretariat)
• Bill McDermott, CEO of SAP, the world’s largest provider of business software
• Laura Schroff, Former ad sale executive and best-selling author of An Invisible Thread
• Dr. Henry Cloud, Clinical psychologist and leadership consultant
• Simon Sinek, Best-selling author of Start with Why and leadership expert
• Laura Bush, First Lady of the United States (2001-2009) via exclusive video interview

Leaders from any organization (big or small) will benefit from these internationally recognized leaders sharing their leadership insights. Additionally there will be focus groups by local leaders to extend the discussion at your table and provide opportunities to collaborate on applying new insights.

If you are interested in attending, you can register HERE.

The cost of this Leadership Summit is $10 for students; $29 for educational, non-profit and veterans; and $39 for the general public. The registration fee includes lunch.
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!

Invest in a Black Hills Vacation Home

As the housing market is heating up, you may be considering buying a Black Hills home that can be used for vacations, rental income, investment, or as an eventual retirement residence. If it’s financially viable, the purchase of a second home can be a great investment opportunity.

Current tax laws offer several tax breaks that can help make owning a second home more affordable. Different tax rules apply depending on how you’ll be using the property so be sure to check with a tax specialist for details. They can also determine the most favorable ownership strategy.

The following are some basic guidelines for the difference between a rental investment and a second residence home.

Rental Income
Tax rules can be more complicated if you rent out the property. Rules are based on the number of days you rent out the home versus how much you use the home for personal use. There are three categories into which you may fall.

• Renting out the home for 14 days or less. If you rent out your home to another party for 14 nights or less per year, you do not have to report that income to the IRS no matter the rental fee. Since this is still considered a personal residence, you can also deduct mortgage interest and property taxes under the standard second-home rules.
• Using the property for personal use for more than 14 days or 10% of the total days the home is rented. If you use the property for more than 14 days, or more than 10% of rental nights, the property is considered a personal residence and the rental loss cannot be deducted. Family members staying in the home for an extended amount of time cannot be viewed as renters unless you are collecting a fair rental price.
• Renting the property for 15 days or more and using it less than 14 days or 10% of days for personal use. In this situation, this home is considered a true rental property and the activities to the home are viewed as a business. You must report all rental income to the IRS. You can deduct rental expenses including mortgage interest, property taxes, insurance, fees to property managers, utilities and 50% of depreciation. You will want to consult a tax expert for all rules and deductions to ensure full disclosure.

Personal Use
If you are planning to use your second home purely for a vacation home, you can deduct mortgage interest the same way you would for your primary residence. You can also deduct property taxes on this second home as well as interest paid up to $1.1 million of debt secured by both homes. However, all costs associated with utilities, maintenance and insurance are treated the same as they are for your primary residence; that’s to say they cannot be used as write-off’s, with the exception of a home office.

Rapid City, Hill City, Black Hills and surrounding areas…all great places for vacation homes no matter the season. If you are ready to buy a vacation or investment property; or just have questions whether 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!

Sunset Creek ~ A Premier Development Within Hill City

Looking for a new Black Hills home with the small-town appeal of Hill City, backed against Forest Service Land, and an easy commute into the larger area of Rapid City? Sunset Creek Development by Black Hills Tradition is your ideal home.

Developer, Jim Peterson, has ensured custom country living while allowing you to bring in your own custom builder; with approval by the developer. Protective covenants have been put into place by Black Hills Traditions to allow orderly management and protect the integrity of the community.

This custom community features lots of 1/3 of an acre up to 7/10 of an acre that are already set with city water & sewer, underground electric, and communication services contained in a mountain meadow setting.

It is located within the city limits of Hill City where you will find shops, boutiques, restaurants, health services, museums and all the conveniences of everyday living.

The Michelson Trail runs right through the development and with an abundance of green space and walking paths, there is ample opportunity to get out and enjoy the land around you. You can also enjoy Custer State Park, Mt. Rushmore, Crazy Horse Memorial, Pactola Reservoir, and Deerfield Lake, all within an easy drive.

For those looking to live within a green development, Sunset Creek definitely meets those standards. Environmentally friendly practices have been put into place to protect the land within the development such as an innovative drainage system to control runoff and protect the soil and the use of no street lights to protect that gorgeous night sky.

Sunset Creek is set for planned unit zoning with single-family residences, townhomes, duplexes, triplexes and fourplexes. If it’s a vacation home you are looking for, this development also allows for vacation home rentals so that rental income is a possibility when you are not here to enjoy.

You will be impressed with the quality of life found in Sunset Creek Development. If you would like to experience the potential of what Sunset Creek has to offer, contact Jim Peterson today!

Jim can be reached at (605) 391-8373 or email him for more information. Jim or June Johnson can also be reached at the office of Integrity Realty Team at (605) 574-4444. We would love the opportunity to discuss the lots still available within Sunset Creek Development. Email us today and we’ll help you with all your real estate needs.