Rapid City, SD

July was a great month for me, anyway. I was top sales agent for my company for the month. I was quite surprised at the honor since it takes 2 sales of mine to equal one of some of the more seasoned agents in my office. It's pretty exciting.

The market continues to move right along. Sales are still down from last year, but they are down 17% this month versus 32% last month year to date. (referring to the "total residential" graph) The average sold prices on preowned homes remain stable, and new construction prices are down 8%. All in all, I see things remaining fairly stable, with good signs showing. What will happen when the tax credit no longer is an option will be interesting to see.

The first time homebuyers continue to drive the market forward. Here are the number of homes sold in the month of July:

Date range for active stats: as of 8/1/08 and 8/1/09

Date range for sold stats: 1/1/08 to 8/1/08 and 1/1/08 to 8/1/09

And of course, the disclaimer:

This representation is based in whole or in part on data supplies by the Black Hills Association of REALTORS or its Multiple Listing Service for the periods as shown. Neither the Association not its MLS guarantee or is in anyway responsible for its accuracy. Data maintained by the Association of its MLS may not reflect all real estate activity in the market.

Here's to what's left of the summer!!

- Tristan

Tristan Emond
Prudential Kahler REALTORS(r)
www.rapidhomesonline.com

Interested in purchasing real estate in Grays Harbor county at the Ocean? Call Steven Simmons or Marti Schmidt: Your team of Realtors at 1-360-589-2439 or e-mail us at schmidtsimmons@theoceaniscalling.com for more information regarding available vacant lots and homes in the Ocean Shores, Washington area. Our office at Coldwell Banker is conveniently located at 749 Pt Brown Ave NW, Ocean Shores, WA (main street of city).

Steven Simmons & Marti Schmidt
REALTORS®.

Coldwell Banker Ocean Beach Properties

749 Pt Brown Ave NW Ocean Shores, WA 98569

360-589-2439 phone

theoceaniscalling.com website

schmidtsimmons@theoceaniscalling.com e-mail

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As you can see from the graphs below, we continue to see fewer sales than this time last year, but notice that the number of homes under contract remains the same. We are also seeing our average selling price working out to higher than last year, so taking into consideration the fewer sales, I consider things to be holding steady.

Here's a look at the number of homes at the different price points sold during June of 2009: We are starting to see the homes over $300,000 move more, which is great to see.

And now the charts:

Areas used : Rapid City, Box Elder, Piedmont Valley, Rapid Valley, Elk Creek, Nemo Road,
Pine Grove, and Sheridan Lake Road

Date range for active stats: as of 6/1/08 and 6/1/09
Date range for sold stats: 1/1/08 to 6/1/08 and 1/1/09 to 6/1/09

This representation is based in part or in whole by data supplied by the Black Hills Association of REALTORS® or its MLS for the periods shown. Neither the Association nor its MLS guarantee or is any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity on the market.

Have a great summer - it's going by fast!!

-Tristan
Prudential Kahler REALTORS
www.rapidhomesonline.com

Activity has been rebounding here in Rapid City. We see the average price of homes are catching up to last years' numbers. Days on market remain a bit longer, but homes are selling and buyers are out looking. The first time homebuyers are definitely influencing the market - as 308 out of 506 homes sold this year (as of June 15) were under the $200,000 mark.

Here are the stats from as of June 1, 2009:

This representation is based in whole or in part on data supplied by the Black Hills Association of REALTORS or its Multiple Listing Service. Neither the Association not its MLS guarantee or is any way responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activity in the market.

Not a bad time to buy or sell!

Have a great day!

-Tristan
Prudential Kahler REALTORS
www.rapidhomesonline.com

More incentives to buy!

Have you got a good job, good credit, but just short on some pocket cash to cover your down payment or closing costs? If you are a first time homebuyer, South Dakota Housing Development Authority (SDHDA) has come up with a plan to help!

It's called the Advance Tax Credit (ATC) Loan Program. Basically, they are making a portion of the $8,000 tax credit available for you to use on your home purchase at the closing table. It is basically a loan that they charge 0% interest on until it is due in June 1, 2010. If you don't pay it off by then, monthly payments will begin on July 1, 2010 at 6% interest for 5 years.

You can take 6% of purchase price up to $6,000 for down payment and closing costs assistance. The same income and purchase price limits apply that exist for the SD First-Time Homebuyers program. (see details at www.sdhda.org)

So here's what you do:

Buy a home.
Use up to $6,000 to help pay for your closing costs and downpayment.
Move in to your new home.
Apply for your $8,000 tax credit in the Spring of 2010 when you file your taxes.
Pay back your $6,000.
Still receive a tax credit of $2,000.
Smile and enjoy your home.

Give me a call or email if you have questions!

- Tristan

Tristan Emond
Prudential Kahler REALTORS
www.rapidhomesonline.com