South Dakota

Huge Kitchen - 3 Car Garage - Vaulted Ceilings - Hardwoods- Ceramic Tile - Built ins and more!

For Sale $239,850 Hurry, Hurry, Hurry This great home will not last long! Rapid City South Dakota RICHARD IVES REALTORS, INC. 605-391-1503

Large two-story home located just above the heart of Rapid City in a quiet cul-de-sac. Built in 2001, with a one of a kind view from the large covered front porch. A peaceful backyard setting in the pines with a perfect spot for your hot tub, barbecue grill or both. The master suite with a large on-suite bath and a HUGE walk-in closet. This home has a nearly 3000 finished square feet, a home office, a three car garage, and a covered back deck perfect for entertaing on those summer nights. There is no need to bring your paint brush as the exterior of this home is mantenance free. LOTS OF STORAGE! Huge Storage area above the 3 car oversized garage so bring all of your toys. LARGE LOT! Almost a half acre, WOW! CITY VIEWS! Stunning City Light Views, easy access to everything. This home has it all.

Located just minutes from medical faciliteis and Rapid City's Regional Hospital, numerous restaurants, grocery stores, shopping and much more. A swimming pool, club house, lighted walking path, are all part of the association features you will enjoy while living in this great home.

Do not delay make this great home yours today. (C) 2009 Richard Ives Realtors

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

Richard Ives Realtors, Inc.

There is no "the" market. Pick your stats to match your fancy. Nationally, things are looking up (on the surface), in general, with some key exceptions. Locally, things are staying strong (on the surface), with some key exceptions.

Nationally, Consumer Confidence is up, mortgage rates are down, new-purchase mortgages are up, employment is down, pending home sales are up, ...down, up,...

Locally, sales volume remains up, new-listing volume is down, pending-sales volume is up, ...down, up...

This market is just as confused as you are. That is why so many buyers and so many sellers remain lurking on the sidelines.

It used to be that the rough part of home buying and selling was often before the buyer and seller came to agreement on price and purchase terms. But now there is so much confusion, change, and new complexity in the activities after the purchase agreement and before Closing, that what used to be a relative cake walk has become a swampy minefield.

The things a buyer and seller and their agents, lenders, inspectors, surveyors, and appraisers have to attend to and comply with, after the Purchase Agreement and before Closing, is in great flux of change. The national mortgage underwriting industry is in change, there are new Federal regs confusing the appraisers. Inspectors are absorbing new public opinion and accountability pressures of risk in environmental hazards. It seems the lawyers are primed to benefit from all this.

Real estate is fast becoming a realm only for highly educated, intensely alert, risk-tolerant, full time professionals. ("Real estate... Don't try this at home.")

Sure, there's silver linings where you can find them. Pending home sales are up, and mortgage rates are re-approaching long term lows. But it has become so much more complex and time consuming to Close on deals, where a short sale is involved, or multiple funding and regulatory agencies are involved. And some national experts are predicting a next wave of foreclosures nationally, not due to abused lower income people but because of middle and upper middle class workers losing their jobs.

What does all this mean to you? First, if you're going to be casual about selecting your next home, your next home's seller, your real estate agent, or lender or appraiser or inspector or...then this might be a good time to join the herd of lurking sidelined sellers and buyers.

But if you are comfortable with deep diligence, humble enough to engage expert professionals, used to risk management, patient, and pretty shrewd, then this could be the best chance you'll have had in a long time to make some really, really smart investments in your next home or rental unit.

That's my opinion. What's yours?

Posted by Lee Alley, www.BHhomes.INFO, Rapid City, Black Hills, SD at 1:15 PM

Labels: Market Conditions

There is no "the" market. Pick your stats to match your fancy. Nationally, things are looking up (on the surface), in general, with some key exceptions. Locally, things are staying strong (on the surface), with some key exceptions.

Nationally, Consumer Confidence is up, mortgage rates are down, new-purchase mortgages are up, employment is down, pending home sales are up, ...down, up,...

Locally, sales volume remains up, new-listing volume is down, pending-sales volume is up, ...down, up...

This market is just as confused as you are. That is why so many buyers and so many sellers remain lurking on the sidelines.

It used to be that the rough part of home buying and selling was often before the buyer and seller came to agreement on price and purchase terms. But now there is so much confusion, change, and new complexity in the activities after the purchase agreement and before Closing, that what used to be a relative cake walk has become a swampy minefield.

The things a buyer and seller and their agents, lenders, inspectors, surveyors, and appraisers have to attend to and comply with, after the Purchase Agreement and before Closing, is in great flux of change. The national mortgage underwriting industry is in change, there are new Federal regs confusing the appraisers. Inspectors are absorbing new public opinion and accountability pressures of risk in environmental hazards. It seems the lawyers are primed to benefit from all this.

Real estate is fast becoming a realm only for highly educated, intensely alert, risk-tolerant, full time professionals. ("Real estate... Don't try this at home.")

Sure, there's silver linings where you can find them. Pending home sales are up, and mortgage rates are re-approaching long term lows. But it has become so much more complex and time consuming to Close on deals, where a short sale is involved, or multiple funding and regulatory agencies are involved. And some national experts are predicting a next wave of foreclosures nationally, not due to abused lower income people but because of middle and upper middle class workers losing their jobs.

What does all this mean to you? First, if you're going to be casual about selecting your next home, your next home's seller, your real estate agent, or lender or appraiser or inspector or...then this might be a good time to join the herd of lurking sidelined sellers and buyers.

But if you are comfortable with deep diligence, humble enough to engage expert professionals, used to risk management, patient, and pretty shrewd, then this could be the best chance you'll have had in a long time to make some really, really smart investments in your next home or rental unit.

That's my opinion. What's yours?

Posted by Lee Alley, www.BHhomes.INFO, Rapid City, Black Hills, SD at 1:15 PM

Labels: Market Conditions

We believe more strongly today that, on top of what's already happened, a perfect storm may be brewing in our local housing market. This is due to evidence of colliding structural forces.

Prices are way down nationally, steady locally. But the number of newly listed homes continues to plummet, both nationally and locally. Economists like to say that "price" is the variable that balances supply and demand. So far, home prices in the Rapid City/Black Hills area have remained steady. As the number of local sellers have declined due to market queeziness, the number of viable buyers ready to buy has also declined too due to the plugged and leaking pipeline of lenders. As a result, although our sales turnover volume is plummeting, prices are holding rather steady.

But, our premise is that if either the number of sellers or the number of buyers (but not both) changes significantly, or if the numbers of buyers and sellers trends in different directions simultaneously, then our current frail balance of market forces could yield an amplified price-reaction in the market to re-reconcile supply and demand.

According to the Wall Street Journal, the U.S. "months of inventory on hand" is climbing as the pace of sales is outstripped by new listings. But here in the Black Hills/Rapid City area, new listings are coming on line at a declining pace. We believe that if something occurs to elevate the number of buyers, even a small amount, it could reverse the local sense of a buyers' market. As the number of active listings declines, and the rate of incoming new listings declines, we could find ourselves in an oversold misalignment of supply/demand market forces.

This could take as little as, perhaps, an extension of the IRS' first time homebuyer credit, or sustained lower interest rates, or rising employment.

There is much talk of a second wave of foreclosure properties flooding the market due to unemployed middle class homeowners. But things just don't seem to allow for such a phenomenon here.

A growing number of 'expert' industry analysts are predicting that the U.S. housing market bottom will occur sometime between now and next spring. A contrarian would say that implies an excess of optimism, and therefore the real bottom may not come until latter 2010, or even later.

We believe the best time to buy may become even more disjoint from the best time to sell. In any case, our stance remains the same...the three traditionally most important factors in real estate (location, location, location) may be in line to be displaced by when, when, when.

What's your opinion?

Posted by Lee Alley, www.BHhomes.INFO, Rapid City, Black Hills, SD at 3:34 PM

Labels: Market Conditions

For several years I have been doing this analysis on a weekly basis to determine market conditions. My full report has more details on it. It is really helpful to determine what price ranges buyers are looking at. I also compare activity for this year with the past several years. If you would like to see a copy of the complete report, or would like for me to help explain how to read this info, just send me a note. I'd be happy to help!

PRICE RANGE	ACTIVE	PENDING	TOTAL
$1-$79,999	33	12	45
$80,000-$99,999	45	11	56
$100,000-$119,999	52	25	77
$120,000-$139,999	67	41	108
$140,000-$159,999	97	40	137
$160,000-$179,999	127	34	161
$180,000-$199,999	81	27	108
$200,000-$224,999	59	22	81
$225,000-$249,999	73	13	86
$250,000-$274,999	56	4	60
$275,000-$299,999	54	7	61
$300,000-$349,999	46	15	61
$350,000-$399,999	38	4	42
$400,000-$499,999	44	9	53
$500,000-$599,999	21	4	25
$600,000 +	49	3	52
TOTAL	942	271	1213