Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

July 17, 2018

4 Reasons We Really Buy A Home

We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers you the stability to start and raise a family

Between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may have these things in mind as major reasons for choosing the locations of the homes that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit in your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t do just that in your own home?

Bottom Line

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home.

Posted in Buy A House
July 9, 2018

The #1 Reason to List Your House for Sale NOW!

Two people walking bikes

If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory:

“Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand. 

That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.”

The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Housing Supply

Anything less than a six-month supply is considered a “seller’s market.”

Bottom Line

Let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now!

 

Posted in Market Updates
June 12, 2018

Checking on Local School District Report Cards

Looking up the District Report Card on a local school can give you more information on how the school does in terms of the others in the district. The District uses the same curriculum in all buildings, and the information will be a year behind. Since the curriculum is the same, differences in the population and teachers in the school can account for the differences.

Go to the State Department of Education Website:   www.doe.sd.gov/

Under the Parents tab on the far right click on Reports.

 

 

June 12, 2018

Rapid City Area School Information-Kindergarten

When your family is relocating to Rapid City, you always want to know about the best schools! If you have a child that is nearing Kindergarten age, you're probably wondering what to do to get them started.

In Rapid City, kids go to a school based on where they live. The school district has a map with outlines that encompass each school.

A child in our district can start kindergarten if their 5th birthday is on or before September 5th. Of course, if a child has a later birthday and the family thinks it wise, you can start them a year later. In this case you will need to complete a home school exemption form and return it. Normally, school registration is in early January. But if you need to register later than that there is online registration at www.rcas.org. It is possible with later registration, that the designated school of the area may fill up, and then will be placed in a designated school for overflow.

August 8th is the starting day of school. For new students, you will need to bring a birth certificate, immunizations chart, social security card and proof of address. If you are in the process of purchasing a house, you can present the purchase agreement contract as proof of address. 

If you have more questions about Rapid City Area Schools, Call Sharon in Education Services at 605-394-4037.

If you will be relocating to Rapid City, text or email Janet at 605-431-0988  realblackhills@gmail.com, and you will have a solid advocate to help gather information for your home search and answer any other questions you have about moving to the area!

 

July 31, 2017

Curious About Local Real Estate?

Receive the Latest Local Market Stats

Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

Get Local Market Reports Sent Directly to You

You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates