lee alley: FIVE BIG ISSUES WHEN EVALUATING INVESTMENT LAND
- 11/24/10 07:52 AM
by Lee Alley. Find your Black Hills dream home at Rapid City Search .com 5 Big Issues to Consider When Evaluating Investment Land in Black Hills, South Dakota You learn good land investment from mistakes...either yours or someone else's. If you get in the mood to buy or sell undeveloped land, call me first. I may try to talk you out of it if you have not yet done your "deep-diligence." 1-SOIL: It is critical when you buy that beautiful acreage, that you know how the soil will support cattle grazing, fracture a house foundation, or just stick to … (0 comments)
lee alley: THE TOP TEN HOT-SPOTS AND NOT-SPOTS IN RAPID CITY AND BLACK HILLS REAL ESTATE
- 08/11/10 01:10 PM
THE TOP TEN HOT-SPOTS AND NOT-SPOTS IN RAPID CITY AND BLACK HILLS REAL ESTATE We did some deep diving in the data dumpster for past two years’ sales records. If you ever wanted to know where the market is zinging and where it’s just clinging, read on. First, like any engineer I need to disclose the basis upon which this research was performed. In order to focus on sales of “mainstream” properties we collected data on the 1,100 or so sales in the past two years of $125,000-to-$350,000 single family residences on under one acre, with 3-5 bedrooms, 2-3 bathrooms, … (0 comments)
lee alley: BACK TO REALITY: NATIONWIDE PENDING HOMESALES DOWN AFTER STIMULUS EXPIRATION
- 08/06/10 10:31 AM
BACK TO REALITY: NATIONWIDE PENDING HOMESALES DOWN AFTER STIMULUS EXPIRATION Last January, after the Christmas holiday period ended, when some folks believed interest rates would start rising, when the Haiti quake took real estate off page-1, things began to boom. On top, when the homebuyer tax credit kicked in things really took off. Then the coincidental perfect storm of opportunities ended. You can see by the chart of pending home sales why some of us wonder if that storm’s vortex sucked second-half 2010’s home sales artificially in to the first half. I heard some one say, “2010 was a … (0 comments)
lee alley: RAPID CITY MEDIAN HOUSE COST DOWN $50,000
- 07/16/10 11:47 AM
RAPID CITY MEDIAN HOUSE COST DOWN $50,000 News reports focus on home prices. That’s the money the seller walks away with. But the cost to the buyer is the total of payments over 30 or 15 years. And for most of us, the acid test is how the monthly “payment” fits our budget. Interest rates are the lowest in 36 years. The mortgage-makers are having a price war. The market is shouting Buy now! Buy now! Buy now! Consider a typical Rapid City area median priced home, say $180,000 to $200,000. With interest rates down to 4.8% from 5.8% not … (0 comments)
lee alley: 25 Important Issues Excluded From Home Inspections
- 05/11/10 05:15 PM
25 Important Issues Excluded From Home Inspections Hiring a pre-purchase home inspection is nearly standard practice for home buyers. However, the scope and depth of what is included or excluded from the inspection is far from standard. No government agency or law regulates what your home inspector will ignore. And these 25 exclusions could potentially overlook serious health, safety or value issues for your family. No home inspection can include all issues. Some possible issues would take so long to examine, (for example, a 90-day radon test, or an air conditioning test preceding a January sale), that it would discourage … (3 comments)
lee alley: HOW’S THE RAPID CITY REAL ESTATE MARKET?
- 04/26/10 03:53 PM
HOW’S THE RAPID CITY REAL ESTATE MARKET? Every day some one asks me “How’s the Rapid City real estate market?” Sometimes the unspoken subtext is “Give me the gory bloody details!” But there aren’t any. As this chart shows, no surprise, the national bubble burst in May 2007. Californians were in la-la land of free American Dreams, but the Black Hills area would have nothing of it. Like I always answer the question, “We didn’t participate in the bubble, so we aren’t participating in the bust.” Good ole South Dakota, just keeps loping along. Soon as we get past … (0 comments)
lee alley: THREE TOP PROBLEMS GETTING AN APPRAISAL FOR GREEN BUILDING
- 04/20/10 10:12 AM
THE THREE TOP PROBLEMS GETTING AN APPRAISAL FOR GREEN BUILDING Green-building pays off when annual utility cost savings offset the somewhat higher initial cost. However, getting an appraiser to help you secure a home loan for Rapid City real estate that includes green-building features, may be difficult for three reasons: 1. Lack of education by appraisers about how to estimate future utility cost savings 2. Lack of verifiable data for appraisers to consider in "comparables" 3. Lack of sophistication of MLS' and local realty boards to know how (or want to) value green building. According to Kevin Morrow, senior program manager … (0 comments)
lee alley: THINKING SHORT SALE? … THE LONG TERM CONSEQUENCES
- 04/12/10 02:30 PM
THINKING SHORT SALE? … THE LONG TERM CONSEQUENCES Think a “short sale” is a pain now? That’s just the beginning. It gets worse. If you or someone you know is considering a short sale, it probably is best to pursue every possible creative alternative, such as family help, bartaring your time to friends for their help, or sell you big boy toys. Here is why: When your mortgage lender agrees to a short sale, they are not necessarily agreeing to forgive your debt. Perhaps the opposite. They may simply be agreeing to a well-planned new stance for themselves in which … (1 comments)
lee alley: 10 Problems to Avoid When Buying a Foreclosure - Lee Alley, Rapid City Real Estate
- 04/07/10 10:00 AM
10 Problems to Avoid When Buying a Foreclosure Rapid City and the Black Hills are blessed with a relatively very small proportion of foreclosure properties. But when you find one, it is important to know what you are buying and the risks of problems developing. This video by RIS Media explains several pitfalls when buying foreclosures: For example: It is not the damage, but the source of the damage An unheated, unwinterized house is more risky Peeling or bubbling pain or a musty odor are a sign of possible mold. (Not all mold is bad!) Look for fungus Blocked drains … (3 comments)
lee alley: WOMEN’S HISTORY MONTH: WHITE HOUSE COUNCIL ON WOMEN AND GIRLS TO HOST WOMEN IN FINANCES SYMPOSIUM
- 04/05/10 08:39 AM
WOMEN’S HISTORY MONTH: WHITE HOUSE COUNCIL ON WOMEN AND GIRLS TO HOST WOMEN IN FINANCES SYMPOSIUM This is a great idea. Given the mess in our nation’s mortgage markets, we could sure use some more high caliber leadership in financial policy. From my own experiences, women have provided some of the most proficient and professional real estate financing services. Among the many senior finance officers I have worked closely with, many of the best were the women. My own daughter is a business consultant in a related area. Often these days, couples are relying on the woman’s higher credit rating … (0 comments)
lee alley: New Website Launched for Black Hills Market Watch – Rapid City Real Estate
- 03/01/10 02:16 PM
www.BlackHillsMarketWatch.com The Black Hills Market Watch gives you daily, weekly and monthly comprehensive analyses of the current real estate market, the historical trends, and news that affects your real estate decisions. The real estate market in the Black Hills area is ever changing. This website will be a useful tool for anyone wanting to sell or buy a home, real estate investors, or real estate agents. Lee Alley is the founder and team leader for Black Hills Market Watch. He is a full time real estate marketing consultant helping people make well-informed real estate decisions. He is also State-licensed as … (0 comments)
by Lee Alley. Find your Black Hills dream home at Rapid City Search .com 
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