South Dakota is Top in Growth for the Nation

The numbers are in and it’s official ~ South Dakota rocks!! If you are in the market for a new Black Hills home, now is the time to buy before inventory gets slim. More and more people are coming to South Dakota thanks to the low cost of living, great school systems and prime investment opportunities.

Don’t just take my word for it. According to the new US Census, South Dakota has the 6^th fastest growing population in the nation. While the nation’s average is 2.2% in growth, South Dakota’s population grew by 3.5% in the past three years, to 844,877 people.

When asked about the boom, President of the Realtor Association of the Sioux Empire, Brandon Martens had this to say, “Obviously there’s no state income tax, which helps a lot of businesses and a lot of the people coming to the area. As well as land costs, the fact that we really did not have a housing bubble, we just kind of weathered the storm and I think that really attracted people to South Dakota.”

There is more new home construction in the Black Hills area as well as fabulous resale’s, lots of land for building your own dream home, and vacation homes if you cannot reside here year-round. If you are looking for an investment or to start your own business, you will want to trust a local Realtor® to give you the best possibilities to achieve success in your new venture.

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!

New Year, New Mortgage Rule

As you may have heard, there are new mortgage regulations heading our way, but how will this impact Black Hills homebuyers, Realtors, and lenders? If you’re in the market for a new home, the next time you head to the bank for a new mortgage loan, the lender may be asking just a few more personal questions. This is all thanks to the new Ability to Repay rule that lenders are now subject to under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under this new rule, lenders are now held accountable for the loans they make, and they must be able to prove that their borrowers can actually repay it. Lenders can even be asked to buy back a loan if they make a mistake. The only way to protect themselves from these buybacks is to now follow a strict set of rules.

Basically it comes down to this, as of January 10, 2014; lenders are now prohibited from making a higher-priced mortgage loan without regard for the home-buyer’sability to repay. The debt-to-income ratio must be 43% or less, and it limits the fee that can be charged by a lender to just 3% of the total amount of the loan. Also, loan terms that are greater than 30 years, interest-only loans, and negative-amortization are no longer available since they do not meet the guidelines of a “qualified mortgage.”

I know that some of this may be confusing, but we are always here to help if you have any questions.

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!

Happy New Year from all of us at Integrity Realty!

Enjoy the Magic of the Holidays in the Black Hills

The holidays are upon us! In between all of the delicious food and family time, getting out and enjoying this time of year in South Dakota can add to that holiday spirit. We just wanted to share a couple of great events coming up for the whole family to enjoy.

Storybook Island is putting on their Christmas Nights of Lights now through December 26th through the 31st. Enjoy miles and miles of twinkling lights as you and your family take a stroll through the enchanting fairy tale sets. You can sip on some hot cocoa and visit with Santa himself! There may even be a reindeer sighting or two! Admission is just $2.

Another wonderful event is the Downtown Countdown taking place at Main Street Square December 31st from 1 pm to 8 pm. There will be ice skating, family entertainment, and free horse drawn carriage rides! This is all capped off by an amazing fireworks display at 7 pm.

All of us at Integrity Realty would like to wish you a warm and wonderful holiday and a happy new year!

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!

Happy Holidays!

Successfuly Sell Your Black Hills Home During the Holidays

I’m sure you’ve heard it before, “No one is buying or selling their Black Hills home in the winter,” or “Winter is the slow season for selling a home in the Black Hills Region.”  This couldn’t be further from the truth. Winter can be the best time to put your house on the market, for a few different reasons in fact.

First, if you want to spend one last holiday in your house, we can make that happen! You can sell now and we can provide you with a delayed closing or an extended occupancy until after all the celebrating is over. And even though your house may be on the market, you can still restrict showings to allow you to have your family time.

Next, by selling now, you may be able to be a non-contingent buyer in the spring when there are usually more houses on the market which can drive prices down. This would mean you could potentially sell high and buy low. Also, there are generally several potential buyers that are looking at this specific time, such as those needing to buy before the end of the year for tax reasons, or wanting a new vacation home.

Another great reason to put your home on the market during the holidays is buyers have more time to look around this time than they do during their usual work weeks. They are also more emotional during the holidays and have fewer lower inventory to choose from, meaning they are more likely to pay your asking price. Besides, who can resist a beautiful home covered with a layer of snow and holiday cheer!

The number one reason to list during the holidays … buyers who are looking for new homes during the holidays tend to be more serious about finding a Black Hills home!

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!

Happy Holidays!

Choosing the Right Black Hills Agent

If you’re trying to sell your Black Hills home, you probably know it can be a bit of a hassle, especially in the winter. Why not make sure you have a true professional real estate agent on your side. To help you decide which of the many real estate agents in the area qualify as the best, we’ve pulled together some important items to consider.

First impressions are very important. Before you have even spoken with a Realtor®, first impressions are made just in the response time back to you. If the agent you’ve contacted gets backs to you immediately it shows they truly want your business. However, if you haven’t heard back from them within a couple of days, they probably won’t be focused on exceeding your expectations and this generally should be the first sign to move on to another agent.

Look for someone who’s been a successful agent for at least five years. Having experience proves that they love their work. If the agent has managed to stay in this highly competitive business for over ten years, you can be sure they know their stuff. Also look into how long they’ve been in the Black Hills region. Local knowledge can lend itself to a successful closing since they have local experience in the process.

Quiz your prospective Realtor® about their marketing plan for selling your home. The agent should have a complete, step-by-step plan, and they should be able to explain how each step will work towards getting your home sold. If you aren’t clear on the process, don’t be afraid to ask questions and challenge their methods. A good agent will be able to stand their ground and prove the method to their madness.

Be patient. You may not meet the agent of choice right off the bat. Shop around and find an agent that meets your needs, shows results, and can show you why they can sell your home quickly and for top dollar.

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!

 

Thanksgiving Thanks from Integrity Realty

I would like to wish everyone a very Happy Thanksgiving from Integrity Realty. I hope that you have a moment this busy weekend to take some time with friends and family and be thankful for the great things in your life and how your little, thoughtful actions may have a great positive impact on someone else.

I know that everyone probably knows this story but it’s one of my favorites! Enjoy!

There was once a wise man that used to go to the ocean to do his writing. He had a habit of walking on the beach before he began his work.

He was walking along the shore one day when he saw a human figure moving like a dancer. He smiled to himself as he didn’t think anybody would dance on the beach at this time of the day. Hence, he began to walk faster to try and catch up with the person.

As he got closer, he saw that the person was a young man and he wasn’t dancing. Instead, he was reaching down to pick up something on the beach every now and then before throwing it into the ocean very gently.

When the wise man got closer, he called out, “Good morning! What are you doing?” The young man looked up and replied, “Throwing starfish into the ocean.”

“Why are you throwing starfish into the ocean?”

“The sun is up and the tide is going down. If I don’t throw them in they’ll die.”

“There are miles and miles of beach and there are starfishes all along it. You can’t possibly make a difference!”

The young man listened politely. Then he bent down, picked up another starfish and threw it into the sea, past the breaking waves. He said, “It made a difference for that one.”

Each of us can make a difference to this world. Everybody is useful and it is just a matter of whether you want to make a difference.

Keep Your Black Hills Home Energy Bill Down During Holidays

As the holidays are creeping up on us so are your energy costs for your Black Hills home. As we’re busy cooking and entertaining this holiday season, there are some great tips on how to save on energy without sacrificing warm toes as those temperatures plummet.

Pre-plan for success

1. As you are planning your menu, take into consideration any dishes that can be cooked alongside the turkey to reduce the amount of time the oven will be running. Not only is it easier on the cook, but it will save energy too!

2. Installing a dimmer switch for the dining room can help extend your bulb’s lifespan and will reduce the amount of energy you will use. The $10 a dimmer switch costs will well be made up in savings at the end of the holiday season.

Let the cooking begin

3. Once the fateful day arrives for all the cooking and baking, lower your house thermostat by a few degrees. The oven will keep your house warm and once the baking is complete, slightly open the oven door to let the warm air escape into the room. You can also use your ceiling fan direction to help distribute heat throughout the house.

4. When cooking those delectable dishes, use ceramic or glass pans. The oven temp can be turned down by 25 degrees since these materials retain heat so well.

5. Use your oven’s convection feature. It circulates the heated air around the food and reduces the required cooking time and temperature. If you do not have a convection oven, this may be a good update when renovating your kitchen to increase your home’s value.

The slow clean up

6. Good news! Using your dishwasher over hand-washing saves energy and water; only hand-wash those things that are not dishwasher-safe. Want to save even more energy? Turn off the dry cycle, crack the door and let your dishes air-dry.

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 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 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!

A Black Hills Thanksgiving Day Thanks

I can’t think of anyone who doesn’t love Thanksgiving. Besides all the great food, it’s one of those holidays where we can just be happy for our friends and families and all of the wonderful things we enjoy here in Black Hills. Did you know that there are also real estate benefits to the holiday? Being thankful for what we have and taking stock of all that we already have gives us license to realize that our real estate position may be even better than we thought.

When we compare our homes to others without taking into consideration that fair appraisal, it lends itself to frustration with what we have. If your home fits your family needs, lifestyle and budget, you should count your blessings! If it’s time to sell your home, being in a realistic frame of mind can help market your home better because you’ll already know what great features to highlight in your home.

If you are looking to buy a new home in the next 6 months, be careful not to get caught up in the shopping frenzy that ensues the day after Thanksgiving. Running up debt could affect your mortgage application, or even affect the pre-approval you may have already received. What’s more, you are trying to de-clutter to show off your home, sell it and move, not add more to clean, organize, and hide before potential buyers come to view your home.

Make a list of realistic wants and needs before you start your home shopping. Those things that are merely “wishes” can probably be added later on when the urge to spend has passed.

Throughout the year I’m reminded how lucky I am to live in the Black Hill region and what wonderful friends my clients have become. I wish you a wonderful Thanksgiving! Email me or walk on in anytime to chat! You can also 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!

Tips for the Hill City First Time Home Buyer

One of life’s milestones is buying your first Hill City home and with home prices still affordable in the Black Hills region … now is the perfect time to buy. However, it’s really easy to get caught up in the excitement of buying your first home and, in that excitement; many homebuyer’s make some common mistakes.

These mistakes can easily be avoided by preparing and getting smart even before your house hunt begins.

Pre-Approval is key. You may have already computed your debt-to-income ratio and you already have a good idea about how much home you can afford. However, don’t assume that is the loan amount you will ultimately receive. Credit scores play a big role in loan approvals as well as other factors. Making sure you are pre-approved for a loan before shopping for a Hill City home will save time and stress.

Be careful not to get in over your head. While you may be able to afford the house on paper, make sure that you leave yourself some breathing room. Pushing yourself right to the limit will leave you highly exposed to changes in our economy or your personal finances in the future.

A life where all your family earnings go into the support and upkeep of your home is a frequent cause of family stress. Also, you may find yourself with a large beautiful home but with no extra cash to do any updating or additions to make it your own.

Don’t fall in the “perfect home” trap. Everyone’s idea of the perfect home is different. If you trap yourself into only looking at those homes with everything on your wish list, you will be severely limiting your options. It’s important to choose the things you are not willing to compromise on. These may include location, neighborhood, school district, or home size; things you cannot change. Remember, when it comes to personal preferences on additions and decorating, these can be added later.

Also, while you are waiting for that perfect home that meets all of your requirements, housing prices could be rising or mortgage rates going up, adding expense to your purchase. Instead, determine the most important of your needs and select a home that meets the majority of them.

Skipping inspection is not an option. Any good Realtor® will tell you to never skip the home inspection. By completely skipping a whole house inspection in order to save the relatively small amount of money involved is just crazy. Never use a friend or relative with limited experience to conduct the inspection either. You could be missing potentially expensive and even hazardous defects in the property. A whole home inspection protects you and your family from things unseen that could add up to thousands upon thousands of dollars in repairs or rebuilding later down the road.

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!

Ready to Sell Your Black Hills Vacation Home?

A Black Hills vacation home can be a great opportunity for individuals and their families to enjoy all the seasons and activities that this region has to offer. However, some may find that they are not able to utilize their second home as much as they would like, and decide to put the home up for sale. If you have decided on another vacation home or that the upkeep isn’t for you, now is a great time to sell your vacation property.

The process for putting a vacation property on the market is similar to that of selling a primary residence but there can be more obstacles if you don’t live in the immediate area so it’s important to lay the groundwork to help the home sale go more smoothly.

Work with an Experienced Local Agent
Working with an experienced agent indigenous to the area will not only give you peace of mind while you are away but will also have the right connections and insight to the local market to get your home sold for the best price possible. This is especially important in the Black Hills region where it’s quaint towns and high-traffic tourist areas. You need an expert in the area who can answer all the questions about what to expect during the tourist season.

Complete Repairs Before Listing
To help show the property to its fullest potential and to ensure you aren’t making multiple trips to make unexpected repairs before a buyer purchases, have all needed repairs done before the house goes on the market. Consider hiring a home inspector to identify potential problems with the property and decide which repairs can be made quickly and will benefit in the sale. Having an inspection done before listing can also save you time and money down the road with any potential repairs the buyer’s home inspector may find during the transaction.

Give the Inside and Out a Good Cleaning
Giving the inside and out a cleaning and pruning can do wonders for the staging of your vacation home. Although buyers know it’s a vacation home, they don’t want to view a property that is dusty and unkept due to lack of attention. Giving it some attention such as a fresh coat of paint, changing the linens and organizing the house can make a great deal of difference in the appeal to buyers. You may want to hire a landscaper to remove dead branches and trim the brush to improve the curb appeal and make buyers feel that it’s “vacation ready.”

I am a local expert in the Black Hills region and can help you sell your vacation 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 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!