Back in the Black Hills of South Dakota from visiting Savannah and Hilton Head Island

Well my vacation is over with. It lasted quite awhile and it was very much needed. I head back to the office tomorrow morning. I guess my assistant Sue Owen has had quite a week without me. Of course I have been in contact through the usual techno ways such as e-mails and phone calls, so it won't be such a busy day tomorrow. I did have 2 closings while I was gone so I have a couple of paychecks waiting for me.

This blog needs to be short and sweet as I am heading to bed early tonight, which means before 2 AM. I look forward to Sturgis Rally Week coming up here in a few days. There will be about 1/2 Million bikers in the Black Hills of South Dakota which is pretty amazing considering our entire state population is around 600,000. It is usually a pretty slow week for real estate, but I always end up meeting a few bikers looking to buy a piece of land or a home to rent out during the year and live in during the Rally.

If I can be of any help, please contact me at duanehosek@hotmail.com You will find all kinds of local information on my website www.duanehosek.com for Sturgis, Rapid City, Spearfish, Custer, Hot Srings, Box Elder, Hill City and many other smaller communities in western South Dakota. Feel free to call me at 605-391-8424 anytime. Take care and if you are biking to the Black Hills, be safe.

On vacation on Hilton Head Island, South Carolina - Missing the Black Hills of South Dakota

Hello,

I arrived in Savannah, Georgia on Wednesday, July 25th. My nephew is playing percussion in a month long production of the musical "A Chorus Line". I sa the show yesterday and it was incredible. Then the cast and crew did a midnight studio show, where they all had skits, singing acts, comedy routines, etc. and performed them for family and friends. It was such a blast.

I have to comment on the heat and humidity in the South. I am not a big fan. Which is why I titled this blog "I miss the Black Hills of South Dakota". I know I wrote about the heat wave we have been having in the Rapid City and Black Hills area. Temps in the very high 90's and low 100's. Very unusual for our community. But in Georgia and South Carolina, the humidity really gets to me. Now I know what people are referring to when they say it is a dry heat. The Black Hills always cools off at night and I have grown accustomed to that for sure.

Of course, I brought my cell phone and have taken a few work calls and I brought my laptop so I am keeping up with e-mails as well. It is so much easier to do this for a few minutes each day than to try and catch up in one day back at my office in Rapid City, SD. I usually do not take vacations until the winter months, but this was an unusual situation.

If you are considering vacationing in the Black Hills, Custer, Sturgis, Rapid City, Hill City, Hot Springs, Ellsworth Air Force Base, Box Elder, Spearfish, or any other town in Western South Dakota, please contact me at duanehosek@hotmail.com which is my e-mail. Also, http://www.duanehosek.com/ is a great place to get startedd and to find out alot about our area, vacation spots, tourist attractions, activities, etc. Of course, if you want to see a property or 2 while you are here, I am more than willing to help. Take care and be safe

Camping in the Hot Summer in the Black Hills of South Dakota

Hi............It has been very HOT this past week. The Black Hills has even beat Phoenix, Arizona's high temps which is so strange and just not right. Business, generally has been slow. Real estate has been selling, but not at the usual rate for this time of year. When it is hot outside, people, I believe, just get lazy and want to stay inside where the air conditioning is.

But I faced the heat and went camping for the weekend at Whispering Pines Campground which is located not too far from Pactola Lake and Silver City. Trees provided shade from the sun so it really wasn't that hot. On Saturday a fire had started near Nemo Road which was about 10 miles from our campground. The smoke was rising high and blowing away from us, when suddenly the wind shifted and the smoke covered the campground, causing coughing, itchy eyes, etc. Then a blessing occured. It began to rain. The rain put the fire out, the wind shifted again and the smoke was gone.

So not even forest fires, smoke, or rain can take me away from my weekend activities. I am tough. Ha Ha. Another fire broke out in Box Elder in the past couple of days. All this talk about heat and fires, sure makes it inviting to come live in the Black Hills, right? The truth is, we are in a drought and with global warming, believe in it or not, the temps have been rising in the Hills the last 2 or 3 years. But one thing you can ALWAYS count on is a cool to chilly night. The temps fall 30 to 40 degrees and more by nightfall. That is the best thing of all.

I showed some real estate these last few days and the groups were from out of town. The first thing they say when they get out of the car in the hills is "can you smell that?" They are referring to the fragrant smell of pine trees that I take for granted and am so use to everyday, that I don't even smell it anymore. I am jealous of newcomers to the Black Hills. The Black Hills, Rapid City, Custer, Hot Springs, Sturgis, etc. have so much to offer folks coming from the cities and traffic and high taxes of other states.

Come visit the tranquil beauty of the Black Hills and enjoy the land for sale and homes for sale that we offer. You can check all of this out on my website at http://www.duanehosek.com/ anytime. Please give me a call at 605-391-8424 on my personal cell if you would rather talk than type. But if you enjoy sending a text message please do so to duanehosek@hotmail.com whenever you feel.

I enjoy sharing my life and work in the Black Hills and would love to hear your stories of your first visit to the Black Hills. I bet you were 10 years old on your first visit.......................LOL.

Working with Real Estate Developments in the Black Hills of South Dakota

Today was a nice cool day again. Meaning in the 80's and a bit of rain here and there. Hill City in the central Black Hills had alot of hail damage yesterday with peach size hail breaking windshields, roof tops and tons of other damage. In Rapid City, there were just little tiny hail the size of 1/2 a pea.

Back to real estate. I spent the majority of the day trying to save a deal involving some acres around the Deadwood and Lead areas. I have an offer and a back-up and both want the beautiful piece for development. Just heard yesterday though, that developing that lot may be more work and harder to accomplish than anticipated.

The problem is the definition of a major subdivision (4 homes or more) and a minor subdivision (3 homes or less). The major subdivision requires an exit strategy meaning 2 ways in and out of the property. This is in case there were a fire in the Black Hills and you cannot leave the development one direction, so you have an option to exit from another direction to avoid the fire. I am working closely with the planning and zoning department for the county to see what can be done. Otherwise, I may lose both offers if this gorgeous piece of land cannot be subdivided.

Sometimes you have days like this in real estate where you spend the entire day trying to get something accomplished to save a deal. The sellers want to sell, the buyers want to buy, but still certain criteria need to be met. I am good at getting deals done using honesty, good ethics and lots of input from professionals. If I can be of any service to you please contact me at duanehosek@hotmail.com or check out my website at www.duanehosek.com where you can find school info, city info, homes, land or commercial properties for sale here in the Black Hills.

A Home's Fair Market Value in the Black Hills of South Dakota

Home Market Value Is The Fair Market Value

While most of us tout location, location, location it is important to understand how price and location fit together. When it comes to selling, the importance of pricing a home fair is superior to everything else. A simple illustration is to picture a Rapid City home for sale in the best location you can imagine. Then put a price on it that is not fair market value by home market value comparison. The result will be that many may admire the home but no offers will come since the price is attracting the wrong crowd. To further illustrate, take a less popular location and fair market price it, the buyers will be lined up with offers. Location factors in to correct pricing the way other important features do when assessing the likely market value and sale price of a home. Using home market value pricing then, plays the leading role in sales followed by strategic marketing and negotiating in order to obtain optimum value.

Location is paramount on the other hand when assessing where the highest rate of appreciation might be expected over a period of time. Locations that are superior for neighborhood, proximity to schools and shopping, receive a steady demand on the part of buyers and usually produce a higher increase in market value and of course a quicker sale when that time comes.
When buying, there is a tradeoff for location. A home for sale on a main street for example will usually have more features for the price than the same home on the nearby side street. So a main street home may be just what a consumer prefers knowing that they are getting more of the features they want for their money. On the other hand, a buyer may prefer to take the side-street home with fewer features for the money preferring the added safety that accrues to that location, where small children may be a concern.

It is by and large a matter of choice and most folks whether buying or selling want to come away from the process feeling they were well informed and pay or receive fair market value. For a fair market value on your home in the Black Hills contact me at duanehosek@hotmail.com anytime. Also, enjoy searching for your home on my website at www.duanehosek.com where you can search by price range and area of the Hills.

A Realtors Tuesday thoughts about Real Estate in the Black Hills

Hello friends.

It seems like the last 2 or 3 weeks have been pretty slow for buying homes, land or commercial property here in the Black Hills. Of course, it depends on which Realtor you visit with, but generally sales are pretty slow. I personally believe it is because of the heat. We are experiencing abnormally high temperatures in the Rapid City, Ellsworth Air Force Base, Hermosa and Hot Springs areas of the Black Hills. When you get over to Custer, or the Northern Black Hills areas such as Spearfish, Deadwood, Lead and Sturgis, you generally find the temps about 5 - 15 degrees cooler. But no matter how we may suffer through the daytime heat, we are blessed with cool Summer nights. You add that and the fact that we have very few bugs, mosquitos, etc. this is a darn nice place to call home, or to have a Summer home in.

I am expecting real estate sales to increase as we get closer to the beginning of the new school year. Seems like alot of families want to be in their new homes before school starts, which makes alot of sense considering how hectic the beginning of school can be for alot of folks. But I can make it alot easier on your move with my expertise and buying tips that you can see on my personal website www.duanehosek.com anytime. If you would like to contact me by e-mail, please do so at duanehosek@hotmail.com when you have the time. I would love to talk with you personally toll free at 888-343-2710 or on my personal cell phone at 605-391-8424.

If you need any help or advice on financing please contact my friend Ken Jones who is a great guy, past Realtor, ex-military and all around swell person. You can reach him at ken@journeymortgage.com or call him direct at 605-484-7530 which is his personal cell phone. Enjoy hump day tomorrow and I look forward to hearing from you or receiving your comments.

Home Inspections in the Black Hills & Rapid City, South Dakota

Why Use Home Inspection Companies?

Especially for an older home, and even for a newer one, a home inspection is a valuable service to a home buyer. Whether you live in Rapid City, Custer, Hot Springs, Deadwood or Hill City there are plenty of reasons to get a home inspection. A home inspector will walk you through a 1 ½ to 2-hour visual inspection of the home to determine its condition and that of its systems. Inspectors will assess which components are not performing properly as well as inform the prospective buyer of areas where repairs may be needed in the future. Inspections are also a good way to get a better understanding of the upkeep required on a variety of systems such as furnaces, plumbing and roofs.

Following the inspection, the buyer should be given a written home inspection report of the details of the inspection, plus a maintenance schedule and an estimate of the lifespan and replacement cost of the home's systems. Home inspectors typically go over this report with the home buyer.

As a licensed real estate agent I can assist you by supplying names of home inspection companies and their contact info. When selecting from this list it is important that you enquire about the reputation, number of years in the business with experience in residential construction, and if they are a member of an association that will investigate consumer complaints.

Please contact me at www.duanehosek.com or duanehosek@hotmail.com anytime to learn more about home inspections and buying land, homes, or commercial property in Rapid City and the Black Hills of South Dakota.

A working weekend for this Realtor in the Black Hills.

Well, it was a very hot weekend temperature wise and business wise. I viewed some beautiful homes in the Central Black Hills, Nemo Road and Hill City areas. These were homes in the $400,000 to $ 900,000 price range. This type of money will get you a fantastic house on acreage in western South Dakota. The homes I looked at were around 10-20 acres, around 5,000 square feet, log homes, privacy, pine trees, unbelievable views and of course the tranquil beauty of the Black Hills.

I also received an offer on a commercial building I have on Main Street in Rapid City. Besides that, I also showed a huge commercial building downtown and the person is quite interested in it. So although I had to make it a working weekend, it was well worth it.

If you are looking for land or a nice home please contact me at my website www.duanehosek.com or at my e-mail duanehosek@hotmail.com anytime. For financial information on loans for Black Hills real estate please contact ken@journeymortgage.com at your convenience.

A purchase agreement for property in the Black Hills of South Dakota

Real Estate Offer to Purchase - Mortgage Financing Conditions etc.

When buying a home, your real estate agent will often place conditions in an offer to purchase that allow for acceptance subject to further acts being carried out. The most common conditions placed in offers allow buyers time to obtain their real estate financing commitment from a mortgage lender and to also have a home inspection carried out. The timing of these two conditions usually flow in this order since the real estate agent often recommends that you first know you have been approved for mortgage financing before you pay for a home inspection.
Such clauses often read " This offer to purchase is conditional upon the buyer obtaining satisfactory mortgage financing…failing which this offer will become null and void and the buyers deposit will be returned in full etc…" followed by "This offer is conditional upon the buyer being satisfied with the findings of a home inspector…within 4 days of removal of the mortgage financing condition…etc"

Naturally, a seller must agree to these terms and often does unless confronted with competing offers that may have better terms and conditions or if presented with other circumstances or information.
Once conditions are met your agent will have you sign a waiver form, as they must be removed within the time period allotted for the sale to become firm.

These are just examples and there may be other conditions that need to be included in a real estate offer to purchase and your real estate agent can help you determine that.

Purchasing real estate in the Black Hills of South Dakota

Real Estate Offer to Purchase - Mortgage Financing Conditions etc.

When buying a home in the Black Hills, I as your real estate agent will often place conditions in an offer to purchase that allow for acceptance subject to further acts being carried out. The most common conditions placed in offers allow buyers time to obtain their real estate financing commitment from a mortgage lender and to also have a home inspection carried out. The timing of these two conditions usually flow in this order since I often recommend that you first know you have been approved for mortgage financing before you pay for a home inspection. I can recommend a great lender, Ken Jones at ken@journeymortgage.com as your friendly money man.

Such clauses often read " This offer to purchase is conditional upon the buyer obtaining satisfactory mortgage financing…failing which this offer will become null and void and the buyers deposit will be returned in full etc…" followed by "This offer is conditional upon the buyer being satisfied with the findings of a home inspector…within 4 days of removal of the mortgage financing condition…etc".

Naturally, a seller must agree to these terms and often does unless confronted with competing offers that may have better terms and conditions or if presented with other circumstances or information.

Once conditions are met I will have you sign a waiver form, as they must be removed within the time period allotted for the sale to become firm.

These are just examples and there may be other conditions that need to be included in a real estate offer to purchase and I as your real estate agent can help you determine that.

A day in the life of a Realtor in Rapid City, South Dakota

Today was a pretty slow day for real estate. I worked on getting a closing ready for a house I sold in Lead, South Dakota. It is a beautiful, but older Victorian home right in the heart of Lead. Lead is just a mile away from Deadwood, South Dakota. A very historic cowboy town which was immortalized in the tv series "Deadwood" on one of those pay channels. It is now a quaint gambling town and visited by tens of thousands of visitors to the Black Hills year round.

My company, Coldwell Banker Lewis-Kirkeby-Hall in Rapid City had our annual picnic and auction tonight. We enjoyed steaks, crab, lots of salads and desserts. I won a picnic set at the auction. We really have a great company, we all enjoy selling real estate and each others company in events like this. Contact me anytime at www.duanehosek.com if you would like to know more about Lead or Deadwood, SD.

July 12, 2007 Bridge-Loans for Buying a Home in Rapid City and the Black Hills of South Dakota

What's Bridge Financing and what do Bridge Loans Cost?

Sometimes a real estate transaction in the Black Hills of South Dakota require bridge financing. This occurs when the closing date of the home you are selling may not match the date of the home you are buying. In fact you may not receive the proceeds from the sale until after you want to purchase. With a "firm" sale of your home you can usually "borrow against the sale" of your home. This is what is referred to as bridge financing or obtaining bridge loans. This financing (the bridge) is advanced and then paid back once the sale of your own home closes at a later date. It is replaced by the new and "final" mortgage.

Bridge financing loans are often necessary because of conflicting interests on the part of buyers and sellers with regards to their own timing. This is especially the case when the sale of other homes may be involved. It also occurs when closing dates of home sales do not match by design. In some cases home buyers want to take possession of the home they have purchased prior to the closing of their own home sale so that they can perform renovations before moving into it.
The cost of bridge financing varies. There is certainly mortgage interest cost - similar to regular mortgage loans. There may also be a set up fee, which is sometimes negotiable, depending on the circumstances.

To see what a bridge loan may cost in your situation, please contact Ken Jones of Journey Mortgage in Rapid City, SD. He can be reached at ken@journeymortgage.com and his phone number is 605-341-0133 at work and 605-484-7530 on his cell phone. Or, go to www.duanehosek.com for even more information. Or contact me directly at duanehosek@hotmail.com anytime. I look forward to helping you find land, a home or a business to buy whether in Sturgis, Spearfish, Custer, Lead, Deadwood or Hot Springs So. Dak.

7-11-07 Real Estate in Rapid City - Black Hills of South Dakota

Today was a rather slow day. Did alot of prospecting. The big news in the area is how the old Homestake Gold Mine in Lead, South Dakota was chosen as the new site for scientific research for neutrinos. We were in competition with several other sites all over the USA. This is going to be HUGE for our area. There will be hundreds of shoot off companies, researches and businesses that will be tied in to this project.

I talked yesterday to a Realtor in Lead and he said that he had 3 deals put together of people that were sitting on the fence trying to decide if they wanted to buy any real estate. The announcement of the new Science Research Center got them "off the fence" and into the buying mood.

Generally in the Black Hills this past week it seems that there are alot of sellers and few buyers. Which makes this a great buyer's market with sellers lowering their prices and/or accepting lower offers.

Catch ya all tomorrow............ WWW.DUANEHOSEK.COM

July 11, 2007 Real Estate Update in the Black Hills

During the month of June, 2007 there were 138 new residential listings in and around the Rapid City area. The total # of homes for sale is 531 which includes new construction, town homes, mobile homes, etc. 54 homes have sold or are under contract. Avg. price of a home in the Black Hills since the last report is $189,477 with an average of 69 days on the market. Sellers have been receiving 97.53% of their asking price.

Rapid City is located in the beautiful Black Hills of South Dakota. We are famous for the Mount Rushmore National Monument and for the millions of pine trees that make the Hills look Black. Crazy Horse Memorial is also being carved into a mountain in this area. Our city of 72,000 people has alot of big city amenities with a small time feel. Please visit, enjoy, and live here in the tranquil beauty of the Black Hills.

PLEASE CONTACT ME AT ANYTIME AT WWW.DUANEHOSEK.COM