Rapid City

I have been meaning to write a market update for some time now, but have been so busy with selling real estate that I am just now finding the time!  That is DEFINITELY a good problem to have and as I will point out in this Blog, the market conditions here in Rapid City reflect » Read more  

OK, so again, I know I’m not a lender, but I seem to have plenty to say on the topic lately and well, it just makes me feel better to share and get it all out there!  This past year has provided many challenges in real estate and I would say that a large portion of » Read more  

I thought it would be fun to talk about Real Estate in a completely different part of the world just to provide some context for what others pay for the places they call home, and also to highlight some investment possibilities for those of you out there who like to invest or simply just dream. Dubai » Read more  

I’ve learned a lot about lending over my years in Real Estate and although I am far from being an expert (it’s always wise to consult with a mortgage lender, who is an expert), I have quite a few little tips and tricks that I think are helpful when thinking about buying or selling real » Read more  

The title company researches the property records to make sure there is clear title to transfer. In our market, it is customary for the sellers pay for the ‘title insurance’ to the buyer from the title company. Rapid City buyer’s pay for title insurance to the lender in the amount of their loan – » Read more  

According to the latest MLS data (as of 6/1/09), our average price on preowned houses that have sold to date is down 2% over last year, which equates to only about $1,500. » Read more  

That is a complex question, but the short answer is that our housing prices have been affected in the past 1-2 years, but not as drastically as other parts of the nation. We have always maintained a slow, steady growth pattern in Rapid City and the Black Hills and although it has tapered some, » Read more  

Although foreclosures have picked up in the Rapid City market this past year, we are still well below the national average in this area. If you would like to find forclosures, I can help you! However, please keep in mind that you are not always getting a “bargain” due to the potential condition » Read more  

A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance due to an economic or financial hardship on the part » Read more  

Another side of the market worth considering is how many total properties are selling. Those numbers are down significantly. Total numbers of residential properties sold in 2009 are down about 37%. The break down between the types of properties fall in this way: the number of existing family homes sold during the first four » Read more