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Randy Eide, Black Hills, SD

Rapid City and the Black Hills of South Dakota Market Activity - April 15, 2010

It looks like a few more homes went under contract this week. A sign of better weather coupled with an improved economy? Only a few more days to take advantage of the $8000 buyer credit, don't wait too long!

PRICE RANGE ACTIVE PENDING TOTAL
$1-$79,999 43 14 57
$80,000-$99,999 39 18 57
$100,000-$119,999 46 16 62
$120,000-$139,999 86 40 126
$140,000-$159,999 126 41 167
$160,000-$179,999 126 42 168
$180,000-$199,999 87 30 117
$200,000-$224,999 72 22 94
$225,000-$249,999 77 17 94
$250,000-$274,999 50 9 59
$275,000-$299,999 56 13 69
$300,000-$349,999 42 6 48
$350,000-$399,999 37 6 43
$400,000-$499,999 49 3 52
$500,000-$599,999 20 3 23
$600,000 + 53 1 54
TOTAL 1009 281 1290

A Scam on Craigslist Taught Me Something

I just had a scam happen to me on Craigslist. One of my listings was posted as a rental. The contact person informed potential renters that the sellers were in Africa, and would rent it for only $700 (a house priced at $174,900).

While it took 3 days for Craigslist to finally take it off their site, I received about 60 calls from people wanting to take me up on the offer of inexpensive housing. They drove by and saw my real estate sign and called me directly. I have no idea how many more just went straight to the poster. Or sent them money as a deposit (time will tell).

What I learned was that Craigslist does get a ton of traffic from our area (I have just started using it), and also that that many people are looking for a rental. Our market is getting very tight for rental housing, and I have a feeling it is going to get worse.

It looks to me that if an investor wanted to cash in, now is the time to buy rental housing. What's it like in your market?

P.S. - The house is not for rent!

Rapid City and the Black Hills of South Dakota Market Activity - April 8, 2010

Sales continue to increase, however I am unsure if they are due to the Cash Home Buying incentive or just the spring desire to purchase. We'll know more in the coming weeks. Look at the sales under $200,000, it's almost a sellers market in those price ranges.

PRICE RANGE ACTIVE PENDING TOTAL %PENDING
$1-$79,999 41 14 55 25.45
$80,000-$99,999 39 15 54 27.78
$100,000-$119,999 46 15 61 24.59
$120,000-$139,999 82 43 125 34.40
$140,000-$159,999 116 40 156 25.64
$160,000-$179,999 121 43 164 26.22
$180,000-$199,999 84 28 112 25.00
$200,000-$224,999 71 21 92 22.83
$225,000-$249,999 82 17 99 17.17
$250,000-$274,999 48 11 59 18.64
$275,000-$299,999 56 10 66 15.15
$300,000-$349,999 41 6 47 12.77
$350,000-$399,999 34 8 42 19.05
$400,000-$499,999 50 3 53 5.66
$500,000-$599,999 21 2 23 8.70
$600,000 + 54 1 55 1.82
TOTAL 986 277 1263 21.93

SafeTravel USA - Check road conditions before you leave home!

There are bound to be lots of people traveling this weekend, and if you haven't had a chance to visit http://www.safetravelusa.com/ you may want to have a look. I use it almost every time I head out the door! Have a great weekend everyone!

SafeTravel.com

Rapid City and the Black Hills of South Dakota Market Activity - April 2, 2010

The real estate market in the Black Hills is up about 10% over the past couple weeks. I'm sure part of that is due to the spring weather we have been experiencing. If you have any questions on analysing the following information, give me a call!

PRICE RANGE ACTIVE PENDING TOTAL
$1-$79,999 35 17 52
$80,000-$99,999 39 11 50
$100,000-$119,999 43 14 57
$120,000-$139,999 81 39 120
$140,000-$159,999 110 35 145
$160,000-$179,999 130 35 165
$180,000-$199,999 82 26 108
$200,000-$224,999 65 21 86
$225,000-$249,999 82 17 99
$250,000-$274,999 47 10 57
$275,000-$299,999 54 10 64
$300,000-$349,999 38 6 44
$350,000-$399,999 34 8 42
$400,000-$499,999 51 3 54
$500,000-$599,999 20 3 23
$600,000 + 54 1 55
TOTAL 965 256 1221