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The Home Journal, February 2016
Lewis-KirKeby-HaLL reaL estate, inc. Each Office is Independently Owned and Operated.
THE RESULTS PEOPLE SINCE 1963! Call one of our friendly, positive professionals today!
343-2700 or Toll Free 1-877-343-2700
Top Sales for December Top Producer
Top Producer Team
Customer Service Award
Faith Wendt
Rearick Real Estate Team
Lisa Cox
THREE OR MORE TEAM: Faith Wendt, Diane Byrd, Marty Wilcox, Art Koscielski, Ken Kirkeby, Amanda Kirschenman, Cox RE Team
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OFFiCe HOuRS M-F 8:00 - 5:00 SAT. 9:00 - 1:00
14 weST MT. RuSHMORe Rd. CuSTeR, S.d. Call for the Southern Hills’ best selection of property!
Ron Bradeen Owner/Broker 605-381-2629
Jeff Storm Broker Assoc. 605-673-1518
Carol wood Broker Assoc. 605-440-0466
See all of our listings at www.realestatecenters.com/Custer
Anne Fuchs ABR, SFR Broker Assoc. 605-673-1177
Mark wiley Broker Assoc. 218-820-7710
dAkOTA COwBOy ReSTAuRAnT
BlACk HillS ReTReAT
The land mark COWBOY that waves that big welcome to all hungry diners is what locals and tourist both have come to embrace as the place to meet, dine and spin a yarn or two! Great opportunity to be a part of that American tradition of family dining, gift shop and service. Capacity for 156, Highway 16 frontage, close to nationwide motels, miniature putt-putt, gas stations, downtown Custer, Custer State Park, Jewel Cave National Monument and Wind Cave National Park make this the place to OWN!! MLS# 49568 $880,000.
Deluxe horse property. You’ll love the attention to details in this beautiful 2960 sq. ft. 3 bdrm, 3 bth, custom built home on 13.09 acres, borders USFS land on 2 sides. Huge barn, Bunk House, Green House, RV pad with water and electric service, Fire Pit, Perimeter and cross fenced. Very low maintenance. MLS# 47236 $670,000.
Ideal location at a great price! 18.51 acres with 3 bdrm, 3 bth country home, all on one level. 36 X 60 barn all set up for your horses. 7 Dutch doors, 3 stalls, 2 large pens, automatic waterer, 2 outside hydrants. Low maintenance. Perimeter and cross fenced. Gate to bordering USFS land. MLS# 47683 $547,000.
14.11 PRIME real estate with custom square log home, bordering seasonal Lightning Creek, USFS on 3 sides,40 gpm well, and 24x27 Morton shop. 1752 sq.ft. of open living area. Vaulted ceilings, large loft, pecan cabinetry, oak hard wood floors, attached 2 car garage, and a 12x13 storage building. Fenced garden area, established hard wood trees and Pine. All perimeter fenced--this is the place you always wanted and admired!! MLS# 49595 $440,000.
Over half acre & privacy! 7.59 ACReS
HORSeMen’S dReAM SeT up!
pRiCe ReduCed!
720 lincOln street
Forest Service, Stellar View. Custom 4 bdr., 3 bath home has maple flooring/cabinetry, Chile radial pine trim, vaulted ceilings, gas fireplace, Bali window coverings, six seat theater area with surround sound, and heated/plumbed garage. New in 2014 metal roof, all trim aluminum wrapped, soffits & gutters and landscaping. 12x52 Cedar deck with panoramic view. A hidden gem for a home! MLS# 48890 $395,000.
15.94 acres with 3 bedroom ranch style home, 30x30 garage/ shop with garage doors to facilitate pickup and trailer, 30x40 horse barn with hydrant, stalls, tack room and pasture perimeter fenced, crossed fenced and corrals. Spacious open floor plan on the main level with a 12x56 deck to enjoy the panoramic views of the Southern Hills. Completely framed unfinished full basement just needs to be completed with dry wall and flooring. This is the place to hang your hat and spurs! MLS# 50019 $299,900.
Beautiful 3 bedroom, 2 bath home with lots of charm! Bonus 2 bedroom apartment over the garage. Very private lot with mature trees. Close to parks, Mickelson Trail, and downtown area. Very clean and well-maintained. MLS# 49220 $189,900
Huge pRiCe ReduCTiOn!
HigH COunTRy OASiS!
$5,250 peR ACRe
Seller motivated! 10326 Turkey Trail Road. Conveniently located between Newcastle WY and Custer SD. Great buy on this 1876 sq. ft. home nestled on 18.24 acres. Spacious 30 X 40 metal building for all your toys! Nice balance of open meadow and scattered Ponderosa Pine. MLS# 41842 $129,000.
HORSe RideRS pARAdiSe!
58 pristine acres completely surrounded by USFS land. No covenants. Just 10 miles north of Custer.
Rare opportunity to own 66.79 acre homestead
Beautiful meadows with live water. Wildlife abound.
bordering USFS land. Very desirable location. No
Currently has ag status. MLS# 49935 $8500 per
covenants. Perimeter fenced. Perfect for horses or
acre. $493,000
cattle. Lots of character! MLS# 48260 $350,648
pRiSTine pROpeRTy!
1254 Sq. Ft. 2 bedroom home. Close to the hospital and downtown Custer. Large deck to enjoy the private backyard. Move-in ready, clean and well-maintained. MLS# 49081 $129,900
exCepTiOnAl
Exceptional Home with the desired location. This 3700 sq.ft 4-5 bdr,3bath home with oversized-heated 2 car garage sets on .88 acre. Home has oak flooring, hickory cabinets, native rock both outside and around gas log fireplace, huge kitchen with bar and breakfast nook, family room with wet bar, pellet stove, game room. and storage. Patio,great views and rock outcroppings complete this package! Country home with style.MLS# 49451 $387,000.
The Home Journal, February 2016
evenings & Sun. by Appt.
605-673-2629
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
Dealing with a Poor Inspection By ANNA CHANG-YEN | Green Shoot Media
SELLERS: HOW TO RESPOND
A less-than-stellar home inspection report can be daunting for both buyers and sellers, depending on their level of experience making home repairs and negotiating deals. An experienced agent can help both buyers and sellers navigate this delicate situation and get to the closing table.
BUYERS: HOW TO RESPOND The first thing you should do is discuss with your agent whether or not the home’s asking price already reflects the needed repairs. The seller may have had an inspection before she listed the home and priced the home accordingly. Your agent can help you consider other comparable home sales in the area to analyze whether it’s time to head back to the negotiating table. In some cases, you may decide to absorb the costs of repairs on your own. If the home is older, some repairs are to be expected. Older wiring and piping, for example, might be commonplace for historic homes in the area, and sellers might be less receptive to making repairs. In a booming market, being handy and willing to complete some repairs yourself may give you a competitive edge over other offers. If you and your agent decide that the sellers must chip in for repairs, you might be tempted to lower your offer. This could work for smaller repairs, such as a new water heater. But there are other strategies that may be more attractive when the repair bills will be higher.
© FOTOLIA
Don’t let repairs wreck your real estate deal. A bad inspection is a hurdle that can be overcome with the right information and an agent who knows how to negotiate. A seller who has emotional ties to his beloved home may be offended or otherwise put off by a low offer. If the sticker price is a sore spot, consider asking for a credit at closing. Since a credit at closing reduces the amount of money the buyer needs at closing, you’ll keep more cash in your pocket to make the repairs at the seller’s expenses, and the seller may be appeased with a higher purchase price. When determining the amount of the credit, it’s wise to get quotes from a few different service providers. You don’t want to guess at how much a new roof will cost and then be flabbergasted by the estimates you get later. At the same time, be careful not to base your request on the priciest
quote. A seller who feels like his profit is being nickeled and dimed may jump ship. The least attractive tactic may be to ask the sellers to complete the repairs themselves. This can backfire, as some sellers may be less motivated to think about quality of materials and workmanship when they’re making repairs, since they won’t be the ones to enjoy the fruits of their labor. A credit at closing will allow you to decide whether the new water heater will be guaranteed to last for six years or 12, or whether the warranty on a roofer’s work will cover problems for 5 years or 25. If you must ask the seller to make repairs, it is crucial to be sure you will have the right to sign off on the repairs before closing.
The best way to respond to a poor inspection as a seller is to be prepared and armed with information. If you were a smart seller and had a pre-listing inspection, you probably believe you have priced the home according to the inspector’s findings. This doesn’t preclude you from making small concessions in order to close the deal. If the buyer’s inspector finds larger problems than your original inspection turned up, you may need to rethink things. If your inspector failed to note a failing roof or needed electrical work, it’s time to do some research. Get estimates from a few different companies in order to know if a buyer’s demands are fair. You don’t want to lose out on profit because the buyer is making big demands for small repairs.
REAL ESTATE 101
Help from HUD A home inspection can cost hundreds of dollars but save you many thousands of dollars in unexpected repair bills down the road. To get your money’s worth out of your home inspection, the U.S. Department of Housing and Urban Development offers a List of 10 Questions to Ask Your Home Inspector. Read the list at http://bit.ly/1R81BQH.
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3105 Wonderland Drive
$349,900
Listed by Nick Dowling 605-484-8988
The Home Journal, February 2016
This amazing 4 bedroom, 3 bathroom ranch style home is move-in ready! Built in 2000, this home has been beautifully maintained and updated. Great location in Southwest Rapid City. Featuring 3 bedrooms on the main level, 2 main level bathrooms, open floor plan, updated carpet, huge deck, and a private back yard. Gorgeous finished basement with storage room and walkout to yard with privacy fence! Come see this gem today, it will not last long! MLS #126366
Co-listed with TJ Wojtanowicz 605-863-1920
Need room to grow?
Get a home loan that’s a perfect fit. Darla Jones AVP Mortgage Originator Office 605-399-4211 Cell 605-209-8631
If your closets are overflowing, your kitchen seems cramped, and your bathroom is too small, you may be outgrowing your home. If you’re ready to shop for a new home that gives you room to grow, contact us for a home loan that’s a perfect fit. • Construction Loans • First-time Home Buyers • Conventional Loans • Customized Loans • FHA, VA and Rural Development Loans Call today for a free consultation.
Janene Trammell-Polk AVP Mortgage Originator Office 605-399-4220 Cell 605-484-4295
Tuscany Square 311 Omaha St. • Rapid City • 605-399-2265 | Loans subject to application approval.
Apply online at www.bankwest-sd.com.
The Home Team Advantage
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
What is the MLS?
By ANNA CHANG-YEN | Green Shoot Media
REAL ESTATE 101
Multiple listing services are powerful tools. These databases provide a wealth of information about homes listed for sale, making them a first stop of many buyers in their home search and a vital marketplace for sellers. First conceived as a way to help brokers representing buyers and sellers connect, today a network of private MLS systems are accessible online by brokers and other real estate professionals.
Help from Fannie Mae
A LARGE MARKETPLACE MLSs primarily are marketplaces where listing agents display their wares. Buyers and their agents can find photos, descriptions and specific information about properties for sale, including basics such as square footage, number of rooms and room measurements; particulars of the home such as the type of heating system it uses and included appliances; location information, such as the municipality and other public districts in which the home is located; price information including previous listing and purchase prices; and specifics about financial considerations such as previous years’ property taxes and homeowner’s association dues. This breadth of information makes the MLS a buyer’s best friend when it comes to pinpointing properties of interest. Many MLS systems allow buyers’ agents to set up searches and notify buyers via email when a property meeting their requirements enters the market, or is sold or placed under contract. Real estate transactions can sometimes be fast-paced, so this feature gives buyers an edge by keeping
© FOTOLIA
Multiple listing services provide valuable information to help buyers find a home and get a good deal, and to help sellers advertise their property to a large marketplace.
Fannie Mae’s HomePath website at www.homepath.com offers a wealth of information for new buyers. First-time buyers who complete Fannie Mae’s homebuyer education course can get up to 3 percent closing cost assistance toward the purchase of a HomePath home. If you’re looking for a great deal, read about Fannie Mae’s FirstLook program, which allows people who intend to buy a home for themselves to see newly listed foreclosed houses up to 20 days before investors can buy.
RESEARCH them up-to-date on local inventory.
VALUATION Because MLS systems offer comprehensive financial information, they assist buyers and sellers’ agents in determining whether or not a listing price is fair. This can help make the difference between winning or losing at the negotiating table. MLSs also are frequently used by appraisers looking to assign a value to a home. Appraisers look at the sale prices of similar homes on the MLS in the area of the home they are appraising —
also known as “comps” or “comparables” — in order to determine the home’s value in the current real estate market. This can be a benefit and a disadvantage to buyers and sellers. For example, a home may be worth more than the sale prices of similar homes on the MLS, but favorable private, new-construction or for-sale-by-owner transactions will not appear in the MLS, which could result in a low appraisal. Appraisers can use listings other than those found on the MLS to arrive at their valuation, but these sales often must be brought to their attention.
MLS systems are a fantastic resource for research. If you’re interested in what your home’s value on the market might be, contact a real estate agent who participates in the MLS and ask for a market analysis. You could soon be hanging a for-sale sign on your lawn. If you’re wondering whether your dream home can fit within your budget, or you saw a for-sale sign and might be persuaded to buy if the home is in your preferred school district, speak to an agent about your interest in the market. The MLS offers this data and more, and an experienced agent can help you put it to use.
Chris Long
Your Property ... Our Priority VISIT OUR WEBSITE www.RapidCityCommercial.com
Keller Williams Realty Black Hills 2401 W. Main Street Rapid City, SD 57702
FOR SALE
FOR LEASE
Land
Retail
Deadwood Ave. - 8.77 ac. General Commercial. $1,800,000 Moon Meadows/Hwy 16 - 40 acres. $2,613,600. Zoned General Ag. 2501 Mt. Rushmore - .77 acres; high traffic, high visibility. General Commercial $998,000 1708 Creek Drive - Light industrial - .89 ac, $125,000
Business/Investment TekNetCorp - Computer sales, service & repair business - $599,000 Pearl Vision - Turn-key franchise opportunity! $495,000 Sioux Pottery Business - Hand crafted pottery, in business over 50 years, $49,000 Sugar Shack - Business & Real Estate. $499,000 Collections Business - Over $500k in outstanding judgments - $55,000 3820 Jackson Blvd. Unit A - 3,175 sf office condo, fully leased $350,000 “The Office” in Oelrich’s, SD - restaurant/bar/casino $230,000 Hisega Lodge - Bed & Breakfast, turnkey operation $998,000 906 Lazelle - Sturgis, SD - www.20RallyRooms.com Over 10% return! $399,950
Office/Retail Buildings 3600 Jet Drive - 20,250 sf office building on 6 ac. $2,200,000 1600 Mt View Rd - Suite 108 - 1965 sf office space. $235,800 130 Main Street - 3446 sf, retail - former Breadroot building - $399,000 U/C 2501 Mt. Rushmore Rd. - (former Colonial House building) 5,384 sf restaurant & 3,552 sf retail strip center, $998,000 3312 Jackson Blvd. Great westside location - 3,082 sf office building $297,000 U/C 202 E. Saint Francis - First Wesleyan Church 14,721 sf. $650,000 111 New York Street - 19,600 sf office building- $1,275,000 525 Kansas City - 7,620 sf 2 story office building. $950,000
Warehouse 903 Echo Valley Rd. Keystone, SD - 9,000 sf building on 32 ac. $689,000 23942 Thompson Dr. Hill City, SD - 5,076 sf shop/warehouse. $289,900 11985 Quaal Rd. - 8,000 sf warehouse/office building. $565,000 Nash Finch Building - 195,967 sf light industrial. $5,975,000 U/C 502 Box Elder Rd - Shop/warehouse/office. $437,500
130 Main Street - 3,446 sf. $2,750/mth + insurance, util and maint. U/C 2255 Haines Ave - Suite 208- $1,233.33/mth + $306.67/mnth for taxes, etc. + util. Rushmore Crossing - 3 retail spaces. 1,550-3,700 sf. Lease rates vary. 333 W. Omaha in Tuscany Square - 2 units; 7,897 & 12,800 sf. $10/sf/year + NNN 811 Disk Drive - The Shops at Rapid City - 5 units available; 1,412-4,810 sf. $12/sf plus est $2.80 NNN and utilities. Vanilla shell included. 3618 Canyon Lake Dr. Suite 109 - 450 sf. Excellent location. $580/mth + utilites
Office 731 St. Joseph (Rushmore Professional Building) - 2 professional offices. 450 & 4,800 sf. Leases $300-5,500/month. Includes utilities, CAM, taxes & insurance 111 New York St. -19,600 sf building. $6.00/sf/year. + util. can be subdivided down to 16,100 sf or 3,500 sf 1760 Centre St. - 1,000 -3,000 sf office/retail. $1,000-$3,425/mth. 3600 Jet Drive - 20,250 sf building. $20,000/mth. + NNN + util. 1404 Mt. Rushmore Rd. - 225 sf - $500/mth. 3117 W Rapid St. Suite 4 - 480 sf. $590/mth. + util. 1575 N. Lacrosse - 1,200 sf office suite. $11/sf/year + util. 1220 Mt. Rushmore Rd. - 5,600 sf office. $7,556/mth. + util. 1600 Mt View Road - Suite 108 - 1,965 sf. $13.00/sf/year 428 St. Joseph Street - 2nd floor of Stock Growers Assoc. 3,000 sf. $1,500/mth + util. First Interstate Gateway -Two suites - 2,060 - 3,000 sf. $16/sf/year + NNN Tetra Tech - 12,196 sq. ft. office. $8/sf/year + NNN 1211 E. Fairmont Blvd. 1,100 sf office. $1,500/mth includes util. 4200 Beach Drive, Suite 6 - Great space off Jackson! 600 sf - $750/mth GROSS 525 Kansas City Street - 3 suites available. 960-3,060 sf. $8-10/sf/year + NNN
Warehouse/Industrial 11985 Quaal Rd - 3,000 sf office; 5,000 sf. Warehouse. 6 overhead doors $4,200 plus utilites 2451 S. Plaza Drive - warehouse & office. $2,400/mth + CAM. 5,070 sf 1011 E. Philadelphia - warehouse, offices, showroom. Leases for $3,250/mth + utilities 2200 S. Plaza Drive - 8,800 sf warehouse with office space - $7/sf/year, includes utilities
The Home Journal, February 2016
CCIM, SIOR, Commercial Broker CCIM, Commercial Broker Phone: (605) 391-7500 Phone: (605) 939-4489 Email: Skrunde@gmail.com Email: chris@rapidcitycommercial.com
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Sandra Runde
8
The Home Journal, February 2016
Welcome Home As Low As
$
170
For affordable living in the beautiful Black Hills, Woodland Meadows Manufactured Housing Park is the perfect place. You can enjoy the scenic Hills setting on a large lot with room for a single, double or triple wide home. • Large Affordable Lots • Protective Covenants • City Water & Sewer • Underground Utilities • Paved Streets • Paved Off-Street Parking • Beautiful Custer Location off Highway 16A East • New home financing available W.A.C.
For more information contact us at:
605-673-5581
35 South 4th Street, Custer, SD 57730 srcc@gwtc.net
Clean Air in Your Home
A
s the American population has been made more aware of the dangers of greenhouse gases, one area that doesn’t get as much attention is poor indoor air quality.
The quality of air can be two to five times more polluted than the worst outside air. This is because of the many indoor pollutants floating around our homes from sources such as gas, oil, kerosene, building materials and chemical products.
PLANTS TO THE RESCUE
In the 1980s, NASA and the Associated Landscape Contractors of America carried out an in-depth study on which house plans were the most effective in purifying the air in space. Several of the tested plants were proven to filter out common volatile organic compounds that can negatively impact our health and well-being. Here are three of the most effective house plants for cleaning your air: Aloe: The study found that aloe helps clear both formaldehyde and benzene, which are generally byproducts of chemical-based cleaners. Spider Plants: Also safe for the pets in your home, spider plants are quick to battle benzene, formalde-hyde and carbon monoxide. Their unique stringy foliage makes them perfect for hanging baskets. Azaleas: These budding beauties are best grown in cooler temperatures, making them perfect for improving an indoor area such as a basement.
DIRTY SOCK SYNDROME
605-673-2350
35 South 4th Street, Custer, SD 57730 Website: stonehillcuster.com • Email: stonehill@gwtc.net
Even though it may not have a very scientif-ic-sounding name, dirty sock syndrome can have a serious impact on the overall smell of your home. The problem most commonly occurs when bacteria that has built up from the moisture in your air ducts and system during cooling season are dried up and killed when you begin using heat. This can result in a “dirty sock” smell being emitted from your ducts that is both annoying and over-whelming. Call your local heating and cooling profes-sional, who for a fee can resolve the issue by spraying an antibacterial solution on your unit’s coils. Hopefully you’ll be back to odorless air in no time.
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Dave Wilson owner/Broker/ auctioneer Cell 605-490-9959
R.T. shaW Broker associate Cell 605-490-1176
ChaD GRahek Calli BeChTel Broker associate Broker associate Cell 605-391-5906 605-484-5499
online auctions!
Commercial listings!
Bank Saloon Bar Liquidation WWW.sTURGisaUCTions.CoM View items on-location Jan. 22nd from 12–3pm 1100 Main St., Downtown Sturgis, SD
BiD noW ThRoUGh Jan. 26 aT 11 aM
Residential listings!
er Undgency tin n o C
$62,500
Mls 49576
This home is a quaint 2BR/1BA with interior & exterior updates and a convenient location! Brand new carpet, vinyl flooring in the walkway, bathroom and kitchen along with a Conklin roof coating and new metalwrapped windows makes for quality finishes. The ranch-style property totals 776 sq. ft. with an additional 70 sq. ft. back storage space. This could be perfect for the annual Sturgis Motorcycle Rally with walking distance to the heart of downtown Sturgis, perhaps a rental home or simply your year-round living quarters!
Call Dave
$72,900
Mls 49727
2.1 Acre wooded lot on the west side of Sturgis with seasonal creek. Building site would be on the south and west end of the property across the waterway. South boundary is marked with lathe and blue/orange ribbon. Section line along the south edge of the property is in the process of being vacated to add another 33 feet to the boundary. Vacation of Section Line is not guaranteed. Located across the road from the new Dolan Creek Subdivision which allowed an easement to the property for city water and sewer if buyer is interested. Dolan Creek Subdivision Covenants do apply to the property. Lot is currently not in the Sturgis City Limits.
$285,000 Mls 49948
Great location in Sturgis Industrial Park subdivision, this commercial building is easily accessed from Interstate I-90. The property is fully-equipped as a newer office with a large billboard included in the sale! This is a versatile investment as the building can be used for a business or offices with already divided units. One unit is currently vacant and ready to be rented at a negotiable price! Location, diversity and extras make this property unique!
Call Dave
$355,000 Mls 49634
Nicely paved Lazelle Street parking lot used mainly for the Sturgis Motorcycle Rally and other events. Property features both Highway and alley access. Lot has full electric hookups throughout, overhead lighting, city water and sewer, large shade tree and is fully setup for vending. This lot is all paved and has a newer concrete sidewalk along Lazelle Street (Hwy. 34). Sturgis Motorcycle Museum and Main Street are just south of the property.
Call Dave
$365,000 Mls 48740
4 city lots with 96 ft of Prime Main Street frontage for vending during the Annual Sturgis Motorcycle Rally and retail business the rest of the year. Property features a large asphalt parking lot with lighting, multiple electric hookups with up to 50 amps, water and sewer. A main building which has been remodeled and can be used as a business or a home. The garage features rollup and walk-in doors, concrete floor, electricity and a his & hers shower house. Shower house has two separate entrances and all modern facilities.
Call Dave
Call Dave
ed! c u Redffers! e c Pri ake o M
$239,500
$490,000 Mls 49232
Mls 49273
Like new, this 4BR/3BA home sits on a 0.28 acre lot with magnificent views of the Black Hills! A quick step out onto the main-level, open balcony is sure to amaze! A full, finished basement, master suite with walk-in closet, two-car, attached garage, gas-log fireplace and large living areas complete this beautiful, 2,842 sq. ft. home. Quality appliances are included in the 10 x 11 ft. kitchen, a newer washer and dryer set in the basement, along with a detached shed on the property. A great location with rock landscape, making for easy maintenance and a solid purchase!
Call Calli
$234,500
Mls 48847
THIS HOME IS ALSO FOR RENT! This 9.1 acre lot with both a home and mobile home sits on atop a view lot of the Black Hills. The home features a completely finished walk-out basement equipped with 3 bedrooms and 2 baths, one including a jacuzzi tub! This home is ECO-FRIENDLY! Utility bills remain at an all-time LOW! The upstairs is insulated and unfinished, but leaves room for lots of potential. The mobile home is currently leased along with signage on the storage unit. An overall great investment property!
Call Dave
$156,500
Mls 50081
Newly remodeled! This 4BR/2BA home sits in a quiet neighborhood near local businesses and Interstate I-90. With a total of 1,920 sq. ft., this property features BRAND NEW quality tiling, cabinetry, appliances and both interior and exterior paint! All new carpet in the main level rooms, unique tile work in the basement and a large utility room for storage makes for an attractive home. New carpet for the stairs will be installed. Upstairs bathroom has a laundry chute, new tub & tile for the shower and the downstairs bathroom features a Jacuzzi tub & a new counter with two sinks. A large attached two stall carport, an adjustable basketball hoop on a concrete patio, clothes line and a well-maintained larger shed in the fenced backyard are all included with this property! Ready to move in!
Call Calli
An industrial building at its finest! This 9,940 sq. ft. building sits on 0.81 acres in the heart of Sturgis Industrial Park. Featuring a large shop area with two 12x12 ft. overhead doors, floor drains, noise-softening, perforated ceiling tiles, and a security system, this property boasts both quality and potential! Plenty of parking space and an RV hookup are among many more features. On the office side, you’ll find a welcoming reception area, 3 large offices with built-in planning desks, a storage room, and a break room fully equipped with a restroom and shower. Above the office area, a one bedroom apartment with a large, comfortable living room, full bathroom, kitchen, and bedroom can serve as a monthly income, living quarters, or even a luxury conference room! Seller will consider a building trade as part of the sale. Schedule a showing for this valuable property today!
Call Dave
$318,000 Mls 50020
This 5750 sq. ft. Belle Fourche strip mall has five larger units and two smaller offices, separate entrances, fluorescent lighting, 211 feet of street frontage with good exposure and curb appeal to the public, common bathrooms, long term tenants, paved and concrete parking. The lot is .37 acres, triangular shaped with access from both National and Meade Streets, adequate onsite parking, landscaped, multiple curb cuts for ingress and egress. Property is zoned General Commercial by the City of Belle Fourche.
Call Dave
$350,000 Mls 50088
Great location in the heart of downtown Sturgis! This brick-built building sits on the corner of Main St. and 1st St. with high visibility and excellent foot traffic - proven to be an excellent vending location during the Sturgis Motorcycle Rally. This property can act not only as a restaurant and bar or retail store, but also as a historic attraction, once serving as a local bank years ago. This building was the site of a movie filming, “Mercury Rising”, starring Bruce Willis. Complete living quarters can be found on the upper level. Using these apartments for year-round rentals, rally rentals or personal use will require some updating. Behind the building you’ll find 25’ x 80’ of asphalt parking and vending area with direct access off of 1st St. Don’t miss out on this investment opportunity! If additional space is needed the building next door can be leased.
Call Dave
$25,000 Mls 49680
One of the Original on- and off-sale malt beverage license for the City of Sturgis. This license gives you all kinds of options that a restaurant license won’t. Great opportunity at an affordable price! Motivated Seller. Bring offers. Call Dave
$60,000 WeBsiTe DoMain FoR sale: WWW.sTURGisRallY.CoM Mls 45062
Excellent opportunity to own and establish domain name with verified traffic! Current website content is included in purchase. CALL DAVE
The Home Journal, February 2016
990 Main street sturgis, sD 57785 Main 605-347-7579 FaX 605-347-7596 www.sturgissd.com www.sturgisauctions.com
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
Is the neighborhood safe?
By ANNA CHANG-YEN | Green Shoot Media
REAL ESTATE 101
You may have found your dream home, but does it have the neighborhood to match? Do yourself a favor and do some research into the area’s crime rates before you make an offer. Average crime rates in the area could confirm that, indeed, you’ve found your home sweet home, while uncovering hidden dangers could put the deal on hold. If you’re new to an area and just starting your home search, it’s a good idea to do some research about the safety and reputation of nearby communities. Today’s technology makes it easy to put your hands on the information you need to help make your decision. But it’s also a good idea to get some input through good old-fashioned word of mouth.
SEX OFFENDERS No matter how pristine a neighborhood, a dearth of registered sex offenders in the area could put parents on edge. Each state has different laws governing where sex offenders may live. For example, some states bar registered sex offenders from living near schools and day cares. The U.S. Department of Justice National Sex Offender Public Website (www.nsopw. gov) is a free resource that
Resources on the web To search the FBI’s Uniform Crime Reports in your city, visit http://1.usa.gov /1h4dmaI. At bestplaces.net, you can compare violent crime rates between cities. City-data.com offers a wealth of data about cities across the country, including demographics, local businesses and crime rates.
© FOTOLIA
Don’t forget the costs of routine home maintenance — including maintaining your plumbing and air conditioning systems and roof — when you’re budgeting for a new home. offers links to sex offender registries for all 50 states, four U.S. territories and all Native American tribes. Listings on the registries may include the name, address, age and photo of the sex offender. Some registries also include information about the type of crime committed, such as the nature of the crime and the age of the
offender and the victim at the time of the offense.
CRIME RATES The FBI collects information each year from law enforcement agencies across the country regarding violent and property crimes. The information is published on the FBI’s website and is
searchable by city. Just remember that the statistics only include crimes reported to police. For more local information, try websites such as spotcrime.com and crimemapping.com, which aggregate data from law enforcement agencies, news reports and users and put the information on a map for users to peruse.
This may include links to more information available from local police, such as arrest reports. Some real estate agents recommend that potential homeowners speak with the chief of police in their target cities to find out about neighborhoods where crime is high. Many local departments offer information on their websites where the public can research incidents and arrests in their area. Ask your real estate agent for any information and resources about local crime statistics.
Open House: Sunday, January 31
From 1-4pm.
Open House: Sunday, February 14 and
From 1-4pm.
First time on the market. Units are on sale by owner. Five beautiful condominium units in a park-like setting with deer, rabbits and wild turkeys. All units have two bedrooms, two full baths, laundry closet with washer/dryer, pantry closet, linen closet and a master bedroom with walk-in closet. Second bedroom has full wall closet. Kitchen has electric range, full refrigerator, microwave, garbage disposal and dishwasher. Comfortably sized living room area, dining room area and snack bar. Sliding doors to privacy patio. Tuck-under 2-plus car garage with separate, heated hobby/work area. Total electric home with a/c, sprinklers, smoke alarms. Concrete walls between units for sound and fire-proofing. Quality layout design and construction, not typical to Rapid City. Extra wide staircase can accommodate chair lift.
The Home Journal, February 2016
Condominiums for Sale (5 units) (Yucca Drive)
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$160,000–$170,000/2br - 1050 sq ft - 2 BR, 2 Bath
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The Home Journal, February 2016
sTePhAnie lien Owner/Broker
Jill VAnThul
390-1571
593-3242
Josh uhre Broker
GreGG sTilTon Broker Associate
390-8790
939-5649
rJ Brownell Broker Associate
415-2606
lori BArneTT Designated Broker
TonY mArshAll Broker Associate
786-5817
391-8669
ChrisTin uhre Broker Associate
drew YeomAn Broker Associate
CAl BAker Broker Associate
484-5392
390-6680
niCi kuChenBeCker Broker Associate
dAVe simPson Broker Associate
AdAm kArrels Broker Associate
Licensed Assistant
390-8197
484-4044
kellY lhoTAk Broker Associate
390-6322
390-6117
490-1701
TJ woJTAnowiCZ Broker
TYler sChAd Broker Associate
863-1920
430-3710
rYAn kellY Broker Associate
AmAndA Thune Broker Associate
391-3203
430-2758
BeTsY Brose Broker Associate
mike hArmon Broker Associate
mikAlA kulesZA Broker Associate
TrACY BrAdskY Broker Associate
niCk dowlinG Broker Associate
574-0007
484-9706
381-3040
484-8988
786-7645
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12276 GilT CreST plaCe • Beautiful lOG hOme On 5 acreS • 5 Bed, 3 Bath, huGe 3 car GaraGe • all updated • mlS #125382 $519,900 • call tJ wOJtanOwicz 863-1920
815 1ST STreeT
• cOmpletely renOvated 3 Bed, 2 Bath • everythinG new includinG furnace, central air and kitchen applianceS • riGht near dOwntOwn rc, yet haS private larGe lOt w/Great viewS! • mlS #126598 $139,000 • call tJ wOJtanOwicz 863-1920
2923 olive Grove CourT
• 3+ BedrOOmS, 2+ BathS, Great deSiGn! • almOSt ready fOr mOve in! • Orchard meadOwS SuBdiviSiOn includeS medical, Green Space, GaS StatiOn & GOlf cOurSe • Other planS availaBle • mlS #126236 $242,400 • call tOny marShall at 391-8669
7290 CaSTleWooD Drive • wOw! yOu muSt cOme See thiS 2 StOry hOme with hiGh end finiSheS! • 3 BedS, 2 BathS • finiShed den • mlS #125822 $295,000 • call tJ wOJtanOwicz 863-1920
TBD runkle roaD • 130 acreS Of GOrGeOuS land • pOwer and phOne availaBle w/water nearBy • natural envirOnment fOr wildlife • availaBle aS 3 Separate tractS aS well • mlS #126132 $499,000 • call tJ wOJtanOwicz 863-1920
2725 WeST florMann • 3 BedrOOm, 2 Bath • cOmpletely remOdeled & updated • Great hOme in a Great lOcatiOn • a muSt See! will nOt laSt lOnG! • mlS #126294 $169,500 • call tJ wOJtanOwicz 863-1920
1502 WeST BoulevarD
• well maintained 3 Bed, 2 Bath hOme • all One level livinG with larGe BedrOOmS and larGe Open SpaceS • many imprOvementS thrOuGhOut! • lOcated On a cOrner lOt w/extra parkinG in the alley • mlS #126402 $339,900 • call tJ wOJtanOwicz 863-1920
5873 MaGiC Canyon roaD • One Of the mOSt Spectacular SettinGS yOu’ll find • rapid creek frOntaGe • featurinG, mayBe, the Only “iSland” fOr Sale in weStern Sd • mlS #125806 $429,900 • call tOny marShall at 391-8669
3105 WonDerlanD Drive • perfect, mOve in ready ranch Style with 4 BedrOOmS and 3 BathrOOmS! • Built in 2000, Beautifully maintained and updated • Great lOcatiOn in SOuthweSt rapid city! • GOrGeOuS finiShed BaSement with walkOut • mlS# 126366 $349,900 • call tJ wOJtanOwicz 863-1920
TBD Dark Canyon roaD • 1.75 acre lOt! Build yOur dream hOme! • amazinG viewS and creek frOntaGe • hOrSeS allOwed • additiOnal 1 acre alSO availaBle • mlS #126049 $199,000 • call tJ wOJtanOwicz 863-1920
6890 MulBerry Drive • Great BuildaBle flat lOt • riGht On the cOrner • lOt requireS a tap fee But all utilitieS are tO lOt line • mlS #125741 $32,000 • call tJ wOJtanOwicz 863-1920
3850 Corral Drive • weStSide hOme • 1.82 acreS • walk Out BaSement • One BedrOOm additiOnal apartment • mlS #125319 $349,900 • call mikala kuleSza at 786-7645
2935 olive Grove CourT • almOSt cOmplete! • finiShed frOnt yard landScapinG • hiGh quality caBinetry and flOOrinG • larGe 11’ maSter Bath and walk-in clOSet • mlS #126239 $244,400 • call tOny marShall at 391-8669
TBD hoMer SMiTh roaD • 20 acreS! • BuildaBle areaS with amazinG viewS! • hOrSeS allOwed • partially fenced • mlS #125451 $199,900 • call tJ wOJtanOwicz 863-1920
23085 ThunDerheaD fallS roaD
• luxury prOperty On StunninG creek SettinG! • meticulOuSly deSiGned 6,000 Sq ft cuStOm hOme • enOrmOuS maSter Suite • State Of the art theater rOOm • 1.26 acreS with rOck face BackdrOp • mlS 120084 $1,975,000 • call Stephanie lien at 390-1571
6439 DunSMore roaD • intrOducinG red rOck villaGe patiO hOmeS • hiGh quality, hiGh Style! • ranch Style, 3 BedrOOmS On the main + full BaSement • fully landScaped • mlS #126561 $319,900 • call tOny marShall at 391-8669
1529 TaBleroCk roaD • BeSt viewS yOu’ll find Of mt.ruShmOre & BadlandS • 1700 Sq ft On the main level pluS 1,000 in the BaSement! • 3 car GaraGe • mlS #121843 $374,800 • call tOny marShall at 391-8669
The Home Journal, February 2016
TBD SpearfiSh
• Own the next develOpment in SpearfiSh! • 68.48 acreS • Great viewS! • Behind an exiStinG SuBdiviSiOn w/hiGh end lOtS and hOmeS • mlS #125217 $821,760 • call tJ wOJtanOwicz 863-1920
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
When the Price Isn’t Right By ANNA CHANG-YEN | Green Shoot Media
The house of your dreams may not come with a dreamy price tag. If you have your sights on a home but think it’s overpriced, work with your agent to decide on a strategy.
DETERMINE A FAIR PRICE You real estate agent can provide you with a list of comparable listings. These are usually homes of the same size and general style of the home you are considering purchasing, and have been sold recently. The prices of these homes will give you a good idea of the appropriate market price for your chosen home. It also is the type of information an appraiser will use to determine the home’s value for loan purposes. It’s possible that the owner’s price may be reasonable, especially if you’re located in a housing market that’s booming. In June 2015, CNN Money published a list of the 10 most overpriced housing markets, led by Denver. They devised the list with the help of a real estate firm by comparing pre- and post-recession housing prices. In some areas, the price of housing can be downright astonishing, but as long as sales remain brisk, prices are unlikely to fall. If, however, your research shows that the home is indeed overpriced, your agent can help you with negotiations.
START WITH AN OFFER A high asking price is by no means the seller’s bottom line. It may be a ploy by the listing agent to draw higher offers for his client. It also may be related to a seller’s overestimation of
If you’ve fallen in love with a home that seems overpriced, your agent can help you navigate the tricky situation. the market. In any event, your first strategy should be to make an offer at a more reasonable price.
SWEETEN THE POT A low offer will more likely be accepted if you agree to pay in cash or otherwise expedite the closing process. The buyer may be more likely to accept a low offer in exchange for having the sale proceeds in hand sooner rather than later. Closing can take 60-90 days or more, and anything you can do to speed up the process may bolster your offer. A low offer that also includes requests for costly repairs also may
stand little chance of success. If you’re looking for a bargain, it might be wise to accept a home in less than ideal condition in order to close the deal.
PONY UP SOME CASH If you’ve done your research, tried negotiating, and still decide you’re willing to pay the seller’s price for the home, you may have to dig into your own pockets. A lender will only approve a mortgage of a certain percentage of the home’s value, usually not much more than 100 percent. Any additional amount will need to be paid in cash at closing.
© FOTOLIA
REAL ESTATE 101
Know the Limits The Federal Housing Administration places strict price limits on loans it guarantees. The limits vary across the country and are revised from time to time, so visit http://tinyurl.com/pvlwt2t to find out the limits in your area. You’ll need to enter your state and county to find current limits for different types of properties.
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HOMEWISE By ANNA CHANG-YEN | Green Shoot Media
The pressure that comes with borrowing tens or hundreds of thousands of dollars makes many potential homeowners understandably nervous. So where should you start with making such a large and important decision?
PErsOnal rEcOMMEndatiOns
Word of mouth is a good bet. If you have friends or family members who have “a guy for that,” check into it.
Real Estate Tips and Advice
Finding a Lender
YOur crEdit uniOn
If your employer has a credit union and you haven’t joined yet, now is definitely the time. If you’re already a credit union member, visit with a loan officer to see how their rates stack up.
dO YOur HOMEwOrk
You should interview at least two to three mortgage lenders before mak© foTolIA ing a decision. Good, old-fashioned phone calls can help in your search. You should call and read online reviews of at least two to three mortgage lendCall your local banks and ask questions about their loan programs. Read ers before making a decision. reviews on sites such as Angieslist.com and Lendingtree.com.
The Home Journal, February 2016
20973116 SOUTH DAKOTA REAL ESTATE COMPA 01/17 HOME JOURNAL 6 x 4.41 1 CY, 2 MA, 3 YE
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
Considering a Condo
By ANNA CHANG-YEN | Green Shoot Media
REAL ESTATE 101
Whether you’re buying your first home or downsizing for retirement — and many types of buyers in between — a condo could be the right choice. There are many factors to consider before making a decision.
Get the FHA’s OK To find a list of condos already approved by the Federal Housing Administration, visit the U.S. Department of Housing and Urban Development’s website at http://1.usa.gov /1c6itxk.
MAINTENANCE The idea of having a beautiful landscaped lawn that doesn’t require any effort on your part or not having a driveway from which to shovel snow may sound like a dream. Especially in retirement, the prospect of living in a no-maintenance home can be a huge draw, and a condo fits the bill. Just remember that condo association dues can soar well into the hundreds of dollars a month, so you will definitely be paying for the privilege of relaxing while others do the work. Another tradeoff is that all of the outdoor space in a condominium complex is shared. There will be no fenced yard for your dog to roam free or to have friends over for a backyard barbecue.
PRICE The price tag also can lure buyers to condos. If you’ve looked at single-family homes in your area but are drawn to the lower price of a condo, be sure to factor the condo associ-
and an accounting of the reserve fund.
LENDER REQUIREMENTS
© FOTOLIA
You may find yourself right at home in a condo. But do your homework — including taking a look at the condo association’s books — before signing on the dotted line. ation dues into your monthly budget. Also consider whether or not that savings requires sacrifice. Are you willing to trade some privacy to save money on your housing expenses? Are you OK with sharing a laundry facility with others if it means you can put more cash into savings each month? Also keep in mind that condo associations may sometimes charge special assessments to cover necessary
repairs that can’t be covered by its current reserves. These expenses can range from relatively minor to major, and much like unexpected expenses any homeowner may face, can put a dent in your pocketbook at unexpected times.
ASSOCIATION The condo association plays a huge role in day-to-day living in a condo. There may be rules that restrict your ability
to rent or remodel your home, rules about pets, patio clutter and even window coverings. It’s important to read the association’s rules, sometimes called covenants, conditions and restrictions, or CC&Rs, before deciding on a particular condo building. These documents will lay out how the condos are managed, how board members are chosen and how finances are handled. You also should ask to see association meeting minutes
Consider extra requirements lenders may put in place when you plan to spend your mortgage dollars on a condominium. You can be sure that issuers of loans backed by Fannie Mae or Freddie Mac will take a close look at the condo association’s finances, including how many owners are behind in dues and how much money the association keeps in reserves. If you’re planning to get a loan backed by the Federal Housing Administration (an FHA loan), check first to be sure the condo is already approved by FHA, or you could find it nearly impossible to get the loan. According to RealEstate.com, only about 10 percent of condos in the U.S. meet FHA requirements.
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Real Estate Tips and Advice
Consider a Vacation Home
If your finances allow it, a vacation home can be a solid investment. Whether it’s a summer home on the cape or a cabin in the woods to to enjoy the snow each winter, owning a vacation home can give you years of memories. You also can make some extra income, if you rent out the home when you’re not visiting. But there are some important things to know before you take the plunge of owning a vacation home.
INCOME POTENTIAL If you only plan to visit a few times a year, you will likely want to rent out the home to other vacationers in order to help offset the costs of your new home. Before signing on the line, you should know exactly what kind of income potential the home has. Consider the area. Is it a well known area that offers plenty for vacationers to do, or is it more out of the way? Talk with other nearby homeowners about how much they make on their rentals. Ask how often their units are vacant, and how they advertise their home. Do they do all the work of finding renters themselves or outsource the job to a property management company?
FEES, FEES, FEES If you plan to use a property manager, it’s important to have a thorough accounting of how
REAL ESTATE 101
Vacation Home Hot Spots Ocean City, N.J., leads MarketWatch’s list of “10 Best Places to Buy a Vacation Home.” This list was compiled in 2013 by analyzing the top searched vacation destinations on Trulia.com. To see the list and read about the 10 top towns, visit http://on. mktw.net/KfRbz1. wide range of loans for your vacation home. Many affordable government-backed loans cannot be used for a vacation home. Rules for loans on vacation homes can be more strict © FOTOLIA than primary residences, so Buying a home in your favorite vacation spot can make financial sense, especially if you rent out the you may have to stay within a home while you’re not visiting. lower debt-to-income ratio, and the money you expect to you will be charged. Is there a in the event of a broken garowe taxes on the rental income. make from renting the home likely won’t count as income to flat monthly fee or are you bage disposal or an air condiWork with a tax adviser to charged a percentage of each tioning unit that needs replac- know all the possible tax rami- qualify for the mortgage. This means you’ll need a strong rental? If you’re buying a vacaing while you’re out of town. fications of renting out your income and lower monthly tion home in a developed com- Thinking about these situavacation home. Present the munity, there may be an tions before they happen can adviser with all the information debts to qualify. Your mortgage broker can take a look at your on-site property management help you decide if you’re willing you have about the home and credit and let you know if you company that services all the to take on the hassle in financing, so you can know can secure the most desirable homes. Ask if you will be exchange for the rental income. how the purchase will affect allowed to seek out another your taxes before you make an loans. With all these factors concompany on your own to try to offer on a home. TAX IMPLICATIONS sidered, if a vacation home get a better rate. Mortgage interest and propmakes sense for you, it may be GETTING A MORTGAGE It’s also important to have a erty taxes you pay on a vacaAnother consideration is time to start house shopping plan in place for upkeep of the tion home may not be tax that you may not qualify for a — again. home. How will you be charged deductible, and you’ll likely
The Home Journal, February 2016
HOMEWISE
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
Refinancing Tips
By Alex Mason | Green Shoot Media
ance. The borrower may wish to pay up front for the service, which will save money in the long run. However, most borrowers in need of a cash-out refinance prefer to add the fee to the new loan. Shop well and shop wisely before signing on the dotted line.
The decision to refinance your home should be well researched and done at the appropriate time. The key to a successful refinancing is to examine all your options and make a sound decision from your head and not your heart. When dealing with your finances, remember to think before you react, no matter what the sales pitch may be from a re-fi company. With a good refinance, you have everything to gain. With a bad refinance, you can lose your shirt.
REASONS TO PULL CASH FROM YOUR HOME Your home may have a lot to offer you with a cash pullout from its equity. However, temptations may creep in to take your equity and run with it on items that offer you little in return. If the cash sum is usued to invest into your property to upgrade or enhance the resale value, then the cash extraction will serve you well. Examples are adding another room or upgrading your HVAC.
REASONS TO REFINANCE Not every home loan borrower applies for a refinance simply to lower the monthly mortgage payment with a better interest rate. In some cases, the decision to refinance is made to pull cash out of the home’s equity. A successful cash-out transaction requires sufficient home equity to have some financial leverage over the current market value of a home. In addition, the borrower may wish to add the refinance charges to the end of the loan balance for a no-money-outof-pocket transaction and instant access to cash.
REQUIREMENTS TO REFINANCE The first step in a home
© FOTOLIA
Knowing when to pull the trigger on a refinance — and when to pull out cash — can help you come out on top. mortgage refinance is to have the property appraised. The more current the appraisal is, the better it will be in an unstable real estate market. To qualify for a re-fi, the home must appraise for more than the current loan balance. Homes that were purchased with zero down, have little equity, and were bought at the height of the real estate boom are not a likely candidate for a
new refinance loan product.
REFINANCING FEES The payment to refinance a home is paid to the loan broker who will shop the banks in order to secure the best new loan option for the client. The fees will vary from one company to the next, but the service fee should be less than 3 percent of the new loan bal-
REASONS NOT TO PULL CASH FROM YOUR HOME A debt may be secured or unsecured. Your home and vehicle are secured, as the bank will take possession of such items should you default on the loan. Credit cards and non-tangible items are unsecured, though, meaning if you default, there is no repossession possible. The worst thing to do financially is to take an unsecured debt and pay it off with a loan against a secured
one. Should the increased mortgage grow to an amount that you no longer can handle, poof goes your home with a notice of default. In addition, you want to avoid purchases that depreciate, such as buying a new automobile with equity from your home. In time, the car will end up at the junk yard, and you will still be paying top dollar for the equity you extracted from your home.
READ YOUR LOAN DOCUMENTS When you are ready to refinance for a cash sum or to lower your payments with an attractive interest rate, be sure to read the fine print on every page of the new loan document. Terms such as “fixed” may be applied to loans that will adjust in interest, so read the terms and conditions slowly and ask questions on every page. Once you sign a loan document, you will generally have no legal recourse in court should the loan language on the document confuse you. Contracts can be tricky, so be alert, read carefully, and sign nothing unless it is crystal clear.
Alex Mason is a former real estate agent and mortgage broker living in Los Angeles.
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Real Estate Tips and Advice
Avoid Home Decor Fads
By ALEX MASON | Green Shoot Media
Whipping your home into shape when you are ready to sell can be a long and expensive process. Wise decision-making and careful research can turn to cash in your pocket. Before you begin remolding, be sure to research the housing market for what’s hot and what’s not. This little bit of leg work will not only save you money, but it also may add a tidy profit on the final sale of the property.
AVOID THE FAD TRAP When a new fad craze hits the housing market, even the weirdest and wackiest of ideas may seem right at the time. However, in retrospect, how many times have you looked at an old photo of outlandish wallpaper designs and been able to pinpoint the era to the disco days of the 1970’s? Just because a lot of people have succumbed to faddish culture does not mean the decor is taking you in a profitable direction. Today’s smart, savvy home buyer looks ahead to sum up their re-sale value and will shy away from costly corrections to fad ideas. An example of the remolding and decorating fad track is the conception of the great room. This outdated and over-emphasized use of living space has been a turn-off when buy-
REAL ESTATE 101
To Stage or Not To Stage According to the National Association of Realtors, Realtors believe that buyers most often offer a 1 to 5 percent increase on the value of a staged home. Additionally, 22 percent of Realtors representing sellers and 16 percent of Realtors representing buyers said the increase is closer to 6 to 10 percent. Although these colors may have served you well, they are © FOTOLIA too overpowering for a prospective home buyer to proNeutral colors and decor give potential buyers a clean slate from which to visualize their future home. cess. Keep it clean, and keep it enables them to clear their classic for your home to stand Built-ins, such as the 1970s ers are searching for homes out and catch the buyer’s attenwet bar, overbearing bookcases minds and envision their own built in the 1980s. tion at open house. and too many closets can belongings in the home. The expansive living space detract from the flow of the In addition, bright white Remember, when your home can be nice, but many of the walls have the ability to make is put on the market, it is all floor plan and close off the traditional great rooms are your home seem larger and about pleasing the new owners room for the new owner’s lifepoorly laid out and waste style. Less is best, so when you ready to decorate from scratch and taking your own memories space. wish to remodel, try to keep the by the new owners. with you when you go. Your rooms open and spacious and Soft, muted shades in neutral property should be a clean KEEP IT CLEAN AND CLASSIC free of unnecessary built-in hues are another big crowd slate for the new occupants to work with to take the home in obstacles. pleaser and can make a big There is no substitute for a any direction they see fit. The classic approach to color impact if the walls are fitted classically designed home that is also an asset to your real with crown moldings. Red, makes the most of every nook Alex Mason is a former real estate sale. Plain white walls orange and way-out green and cranny of living space to satisfy generations of owners to throughout the entire home are paints should be avoided when estate agent and mortgage broker living in Los Angeles. appealing to most buyers, as it you are ready to go to market. come.
The Home Journal, February 2016
HOMEWISE
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
Meet the Players in Real Estate
By ANNA CHANG-YEN | Green Shoot Media
You probably are familiar with the role of the real estate agent, but there are many more people involved in the purchase of a home. A real estate transaction can quickly come to involve a large cast of players. Knowing each person’s roles and responsibilities can help you navigate the complicated process of closing a purchase.
AGENT If you’re shopping for a home, you may already have a real estate agent working on your behalf. If you don’t have an agent, you will be approached by agents willing to represent you as soon as you start attending open houses or making phone calls about homes that catch your eye. A proactive agent will compile a list of properties you may want to see or sign you up for an online search of the MLS to pinpoint properties that match your requirements. The agent can provide a wealth of information about homes on the market, including details about property taxes, school districts, local government, utility companies, zoning and homeowners associations. When you decide to make an offer, your agent is your representative at the bargaining table. He can research
© FOTOLIA
Knowing the names of the players in a real estate transaction can help you know who to turn to when you need help navigating the process of purchasing a home. comparable sales to arrive at a fair price for the home and navigate the intricacies of making offers and evaluating counter-offers from the seller.
ATTORNEY Price is only one of the hurdles you will face before signing a contract to purchase a home. Other terms, such as disclosure of any existing problems with the home (such as a leaky roof or pending litigation involving the home), which appliances and fixtures will stay in the home after purchase, how soon you can take possession of the property, the length of time you have to secure a mortgage and who will pay closing costs. A real estate attorney
can read the contract and make suggestions that will help prevent problems down the road. Even small changes to the wording of the contract can have a big impact on your financial responsibilities, so it’s a good idea to hire an attorney even if it’s not required by law in your state. The attorney also will accompany you to closing to be sure legal documents regarding the transfer of the title are handled appropriately.
MORTGAGE PROFESSIONAL Once you’ve signed a contract to purchase a home, you’ll want to secure financing. It’s a good idea to be pre-approved before you start
shopping for a home, so if you’ve done that, you’re ahead of the game. If not, now is the time to contact a bank or mortgage broker and submit an application. A mortgage loan officer can provide her bank’s best mortgage rates and terms, providing you meet the institution’s credit, income and other requirements. A broker can look at your credit reports and offer a variety of rates for which you are qualified, from a range of banks. Shopping for a loan through a broker may provide the best opportunity to find the best loan for your situation.
TITLE COMPANY
The title company’s role in a real estate transaction is to research the home’s title and be sure there is no pending litigation or any liens attached to the title. If you buy a home with liens attached to a title, you will be financially responsible for the amount of the lien. For instance, if the seller has unpaid property taxes, the county may attach a lien to the home, leaving you as the new owner on the hook for that money. Obviously you don’t want to end up in that situation. Enter the title company. Agents of the title company will scour public records to find any title issues and let INSPECTOR you know before closing The home inspector’s role is arrives. to take a thorough look at all If any title issues arise, your of the home’s major systems attorney will work with the to be sure you’re not unknow- seller’s representatives to ingly taking on pricey repairs resolve the issues. If the title is in the near future. The inspec- clear, the title company will tor will go through the home’s issue a title insurance policy, interior and exterior with a giving you peace of mind that fine-tooth comb and point if any title issues arise in the out issues ranging from minor future, the title company will annoyances to unsafe conditake responsibility. tions. Knowing all the players Some of the inspector’s involved in your purchase will findings will be issues that help you know where to turn you will simply make a menwhen the unexpected haptal note of for the future. pens. Depending on these real Others may require you to estate professionals will help return to the negotiating table you avoid the worst-case sceand ask the sellers to either narios that can arise during accept a lower purchase price the purchase process, making or make repairs before closyour home purchase a posiing. tive experience.
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Real Estate Tips and Advice
Know Your Neighborhood By ANNA CHANG-YEN | Green Shoot Media
If you’re considering buying a home in an area that’s new to you, it’s a good idea to do some research. By doing your homework in a few key areas, you can get a good feel for the neighborhood you may soon call home. Your real estate agent will give you information about taxes, schools, crime and transportation. But dig deeper to find out if the area is really the kind of place where you can envision yourself living for a lifetime.
FAMILIES If you’ve already started a family or are expecting a baby, check into activities and services offered for children in the area. For example, ask if the park district offers a pre-school, public swimming pools, and events such as summer camps, public music performances for children, Easter egg hunts and festivals. Visit the public library’s website to see if it offers classes and programs for kids, such as a summer reading program or guest speakers and entertainers.
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Spend some time exploring your potential new neighborhood. Visit the restaurants and attend local events to get a feel for the area.
PROFESSIONAL
Is there a local community college that offers continuing education courses? Can you commute to a state LIFESTYLE college with a nighttime MBA proIf you’re a foodie, check into the gram for professionals? A nearby busilocal restaurant scene. Head to the ness incubator can mean potential Yelp website or app for listings of local future job leads. If you want to keep eateries, as well as reviews. Visit the moving forward in your career, knowbar on the corner or attend the art ing what options you will have for walk to get a sense of how your poten- continuing your education and protial neighbors spend their time — and fessional development can be a cruwhether or not you can see yourself cial piece of the home-buying puzzle. spending time there. If you’re a fitness EDUCATION fanatic, visit local gyms to be sure you Public school can be a great option will be able to find your home away from home — near home. If pottery is for many families. But if you want your children to have great opportuyour passion, search for a studio nities after the school day is done, where you can hone your craft.
look into extra-curricular courses offered by local businesses, such as Lego robot-building classes, STEMbased enrichment programs and SATprep companies. Choosing an area that offers your children more than just the usual educational opportunities can give them an edge in preparing for college and life.
RECREATION If you can’t imagine life without your Tuesday evening flag football league or spending Saturdays cheering on your all-star hitter at the baseball park, visit local recreation facilities to see what’s available. Look at online property tax records to find out which park district the house is in,
REAL ESTATE 101
Go Virtual If your neighborhood is in an urban area, use Google Street View (google.com/maps), to take a virtual walk. Take note of local shops, services, restaurants and landmarks. and peruse the latest program to see which classes and clubs are offered. Doing your homework ahead of time can ensure that your new home is more than just a house but part of a vibrant community where you will feel at home.
The Home Journal, February 2016
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The Home Journal, February 2016
HOMEWISE
Real Estate Tips and Advice
Your Realtor’s Advice is Crucial When it comes to selling a home, we’ve all been told things by our agent that we don’t want to hear. “You need to repaint the walls.” “That offer you thought was low was actually fair.” “Your house is overpriced.” In the interest of getting your home sold and the profit in your hands, you may have to make decisions with which you’re not entirely happy. These are times when a good agent will tell you the uncomfortable truth.
CHANGE YOUR HOME’S LOOK If your home is wallpapered from stem to stern, you might find it hard to find a buyer who shares your particular tastes. When your agent advises removing the wallpaper and painting the walls a neutral color, it may sound like an expensive, unnecessary expense. But the truth is that even costly changes can pay off bigtime in helping buyers look at your home as a blank slate — and getting your profit in your bank account. The same goes for changes such as removing outdated paneling, and installing more lighting or cleaning the windows to brighten up the space. Though you may hesitate at spending the money, your agent knows what buyers want and is thinking of your bottom line.
RECONSIDER AN OFFER At the end of the day, it’s your decision whether to take an offer or say, “no, thanks,” but it’s wise to consider your Realtor’s advice. If the offer is in line with the sale price of other similar homes in your area, ask yourself if you’re passing on a good thing. Of
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You may not always like your Realtor’s advice, but his informed opinion can make a big difference in getting your home sold. course an unscrupulous agent’s fondness for a particular offer could be motivated by the promise of a commission if the deal is closed soon, but are there other signs to suggest the offer has merit? Has your home languished on the market? Has the market in your area declined since you first listed the home? Have you received multiple “low” offers? Any of these situations could be a cue to re-evaluate an offer.
REDUCE YOUR LISTING PRICE No one wants to hear that their home is overpriced. But a Realtor keeps her finger on the pulse of the real estate market in your particular area, as well as the country at large, and her opinion on your listing price is important. If you’re shopping for a new agent after failing to get your home sold with another Realtor, take the opportunity to objectively evaluate her recommendations on price.
Although it may take you time to come to terms with the idea of a smaller profit on your sale, you don’t want to be the last one to realize that sticker shock has been driving away potential buyers. As with reconsidering an offer, evaluate all the factors at play and ask yourself whether your reluctance to reduce your asking price is making the difference between waiting for offers and closing the deal.
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Real Estate Tips and Advice
Bath and Kitchen Trends
By ANNA CHANG-YEN | Green Shoot Media
Many real estate agents will tell you that kitchens and bathrooms sell houses. If you’re making renovations, these rooms will give you more bang for your buck when it comes to resale value. Here are some bathroom and kitchen trends that are hot right now.
GRAYS Gray is showing up in every room of the house, and kitchens and bathroom are a great place to employ this color palette. Instead of brightening up your dark cabinets with a coat of white paint, consider choosing a shade of light gray. Pair it with wood grains for a more traditional look, or go with grays, blues and metals for a more modern aesthetic.
STATEMENT LIGHTING Lighting in the kitchen can be far more than functional. Gone are the days of the fluorescent bar light in the middle of the room. A large metal pendant or a statement chandelier above the island can take a kitchen from boring to bold. Go oversized with extra-large fabric shades. Contrast can add interest to lighting pieces, as well. A fancy crystal chandelier inside a weathered metal cage is a daring choice that will draw the eye. Swap a simple flush-mount fixture for a semiflush light with metal scroll
REAL ESTATE 101
Got Efficiency? Energy-saving updates are sure to draw buyers’ interest and make your home attractive for the cost savings. To get energy-saving recommendations for your home, visit the Energy Star website at www. energystar.gov/ campaign/home.
TECHNOLOGY Like all areas of our homes, © FOTOLIA bathrooms and kitchens are A new trend in kitchen decor is statement lighting. If you’re remodeling your kitchen, consider bold light- getting smarter. Smart homes ing pieces that draw the eye. are no longer the things of science fiction, and buyers will be looking for features that keep nient. If you’re replacing cabito combine style and storage. detail for an inexpensive their homes connected. Give nets, look for special features update. yourself the edge by making SHOWER IDEAS Fancy lighting also can find a your cabinetmaker can build “smart” choices when you A shower without a door home in the bathroom. Hang a in. Even some do-it-yourself upgrade appliances and fixopens up a bathroom. Glass chandelier above a free-stand- cabinet systems have been tures. updated with storage compopanels uninterrupted by metal ing bathtub or a pair of Some great options include nents, such as pull-out shelves, components allows for flowing faucets that come on with the eye-catching pendants over pot-and-pan organizers and open space. Another trend that wave of a hand, wireless speakseparate vanities. appliance garages. These feawill draw a buyer’s interest is a ers built in to the shower head, tures add value to your home shower large enough for two, ovens that pre-heat themselves that buyers will appreciate. STORAGE or even making room for a wet- with the touch of a smartphone Pull-out drawers with builtAs in the kitchen, adding room by tearing out the build- button, and refrigerators that in organizers, utensil crocks storage is a trend in bather-installed garden tub and tell you when the water filter nestled inside cabinetry, built- rooms. If you have room, add a shower. needs to be replaced. in onion and potato bins — linen cabinet that matches These shower layouts also A smart thermostat can help today’s homeowners are lookyour vanities. Or consider add- may make it easier for buyers save energy, which will mean ing for touches that make life ing a large, eye-catching to age in place by eliminating savings for you and future in the kitchen more conveantique armoire or sideboard barriers to showering. owners.
The Home Journal, February 2016
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The Home Journal, February 2016
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