Tuesday, July 10, 2018

5147 Coal Bank, Rapid City Home for Sale by Mindful Living Realty

5147 Coal Bank, Rapid City SD 57701

Home for Sale by
Tristan Emond, Mindful Living Realty



You are going to LOVE everything about this home!

Yes, I know "pride of ownership" is a really overused word in real estate.  But that is this house!  The owners have done everything right!

This 4 level home has:
  • 4 bedrooms
  • 3 full baths
  • 3 car garage (insulated and heated!)
  • 2 master suites
  • Surround sound in the family room
  • Picture window in the living room
  • Breakfast bar
  • Beautiful kitchen
  • Deck with hot tub
  • Huge master suite in basement with dual sink and jetted tub in the master bath
  • And so much more
Nice corner lot with views of some hills and trees.

Check out more pics, floorplans and details at www.5147CoalBank.com.

Awesome Possum!

Toodles,

Tristan

Thursday, June 14, 2018

3736 Park Drive - Rapid City Townhome for Sale | Listed by Mindful Living Realty

3736 Park Drive
Rapid City, SD 57702

 

Westside Townhome!


Welcome to 3736 Park Drive in Rapid City!

This 4 bedroom, 2 bath townhome is minutes away from Corral Drive Elementary and Southwest Middle Schools.  Or take the sidewalk north to Canyon Lake Park.

Great location with no one directly behind you.  Your backyard neighbors are way up on the hill.  :)

Other features include:
  • 1 car garage (sheetrocked)
  • Fully fenced backyard
  • Dog door out to the cool patio
  • Hot Tub ready!
  • Main Floor Laundry
  • Breakfast Bar
  • Dark Laminate Floors
  • Tiled main shower
  • Picture window out the living room
  • Family room would make an awesome theater room!
Plus the mechanical room is huge!  It could be a craft room, hobby area, computer room, workout room, or just space for some junk!

More details on the listing website:  www.3736Park.com

Call or text Tristan to take a look!  605-593-9367

Happy Summering!

Friday, May 18, 2018

April 2018 Rapid City Real Estate Market Report | Tristan and his WHITEBOARD LIVE!

Tristan and his WHITEBOARD - LIVE

April 2018 Rapid City Real Estate Market Report Edition!



(sorry about the audio - FB LIVE recorded bad...the voice will sync about 25 seconds in)


Hey everybody. Welcome to Tristan and his WHITEBOARD LIVE - real estate market edition.
We'll be talking about four -  just FOUR numbers today.  It should be pretty simple, pretty easy.

44 Days on Market

So, I did a search and I looked at days on market of homes in April of this year and it's at 44. So, we've got 44 days on the market from the time home gets on the market to the time it's under contract on average throughout the Rapid City area in April of 2018. 

And that's actually a few days down from 2017 in April last year as well.  And last year was pretty butt-kicking as well.

38 Days on Market

But then I thought let's play with the numbers a bit.

Let's see what happens when we go from May 1st to today.  So that gets us at 38 days on the market.  Of course, you know I thought -  probably not a bad idea...I've heard a few stories about things moving along pretty good.

28 Days on Market

So, I thought, let’s, you know, narrow down a little more.  I did the Rapid City area from May 1st to today under 300,000 – because the homes over 300,000 have a tendency to take a little bit longer to sell sometimes. And that brings us to 28 days on the market.

20 Days on Market

And I thought -  you know what…as I'm looking at these numbers and notice there's 7 of them that are over 100 days.  And I said, let’s get rid of those outliers and see where the normal - if they are over 100 days on the market, there’s probably some...a reason that they are over 100 days on the market.  So, let's take a look at anything under 100 days on the market.  And that turns out to be 20 days on the market. And a whole heap of them were under...were in single digit range.

So, we are seeing a lot of homes move very quickly. And, in fact, Amanda - one of our agents here at Mindful Living Realty - had a home she put on the market and she sold 30 minutes later.  That fast is how things are selling.

Fortunately, it's not as bad as, like, Florida.  I was talking with one realtor friend in Florida who had an open house for one listing – it was for three hours and has 21 offers on the property.  So, we're not that bad and that crazy yet but certainly things are moving fast.

It is definitely time to get your home on the market if you'd like to get sold.

We can get it sold for you. Give us a call if you have any questions.

And have a great day!

Talk to you next time on Tristan and his WHITEBOARD.

Friday, May 11, 2018

Buyers Closing Costs 101 | Tristan and his WHITEBOARD LIVE!

Tristan and his WHITEBOARD - LIVE!

Closing Costs Explained



Hey Everybody, welcome to Tristan and his WHITEBOARD LIVE!

And, as you can see, this is what happens when your daughter comes over after school and decides to draw on the whiteboard.  Quite entertaining. I was kind of wondering why the dog looks like a centipede with a number of different legs. Anyway, lot of fun for everybody but we'll erase that for now.

Alright. Today we are going to talk about closing costs.

What are Closing Costs?

First thing, of course, on the list is what are closing costs?

Closing costs are those funds needed by the lender and the closing department to complete the loan. They include things such as origination fee, the appraisal, the closing fee at the title company itself. all of your recording fees, etc, etc, etc. Everything that we need to take care of the of the loan process and getting it closed.

The other part of closing cost that we don't often talk about is the prepaids such as insurance.  You always have to pay in advance for your insurance, so that whole amount gets paid upfront at closing time. Also, the lender is going to take out 2-3 months’ worth of taxes and 2-3 months’ worth of insurance to kind of have a cushion for later on when they start paying those payments out for you after you buy your property.

Typically speaking, the closing costs end up being around 2-3% of the purchase price to get all those fees taken care of.

Seller Paying Buyer's Closing Costs

We're going to talk to the sellers first regarding these closing costs the buyer has.

If you've got a property around or under $250,000 dollar price point, you can expect that buyers are probably going to ask for closing costs.

Here's the deal - the buyer has to come up with 3 to 3 1/2% down payment (probably). Then they also have to come up with another 3% for closing costs, potentially.  Not a lot of...buyers don't have that.  They don't have that much cash put away to do that. So, to purchase your home, you may have to give some money to the buyer to help them purchase your home.

Unfortunately, this is the way things are right now. It's pretty common place for that to happen. Not a lot of people have 10% in their accounts to go ahead and use for down payment and for closing costs. Just expect that that could be in the offer.

Now it is completely negotiable. They can say, "You know what? I want three percent for my closing costs." You can come back and say, “No, we'll give you two percent.”  Or “No, we'll only give you one percent” or “I’m going to give you 500 bucks.” It is completely negotiable item.  But just know that if the buyers are cash strapped, they may not be able to purchase your home at all unless you help them with all of their closing costs.  Depending on the type of buyer and where you're at.  Those things can happen.

Also know that closing cost money isn't like coming out of your pocket right away. If they ask for five thousand dollars for the closing costs, you’re not reaching your wallet and pulling out of five crisp thousand dollar bills. Like you know, we all have in our wallets.... That will just come out of closing at closing.  So instead of getting $100,000 dollars cash, once everything was said and done, you'll only get $95,000. At closing, they take that five thousand dollars from your account, move it over to the buyer’s account. You won't exactly see it aside from that amount subtracted from your total amount coming out.

Okay that makes sense? So, some people have thought, "Hey I got to pay five thousand dollars cash for these people? Forget about it.” It does come of closing, still coming out of your total proceeds, but possibly a necessary item to help get your property sold. Okay FYI!

Buyers Asking for Closing Costs

Now number three, of course, we're going to talk to you buyers.

As probably you have understood, the sellers may not have a lot of interest in helping you buy the home with the closing costs that they may have paid themselves when they bought the home back a few years ago. There are already looking at spending “X” amount of money for the realtor fees.  Plus, then also spending money to help you get in the home, isn't always a fun prospect.

So, consider this when you're making your offer:

Let’s say you ask for $5,000 dollars to help pay closing costs, and you come in under $10,000 dollars the asking price.  The sellers are looking that as asking for $15,000 dollars low.  That's just what they're going to see, okay?   Cuz they're looking at their bottom line, right? So, you need to be considering that, as well, when you make that offer. If you need a considerable amount of closing costs you may need to offer closer to the asking price.  Sometimes we've done it before where we've given a little higher over the asking price to pull in some of those closing costs. That is an option.  Something we may have to talk to you about to see how that might work for you.

The other thing you might not need to consider is if you're working with a bank or lender that has a high amount of closing costs…there are other lenders in town that have lower origination fees. They have lower closing costs and still do a very good job with getting the process done. I’ve worked with a few of them.  A lot of them will help you in that process.

You may need to consider going to a different lender that offers a lower closing costs.  And of course, make sure that you check that the interest rates are the same and all the other things so that you have a better chance of purchasing a home. Especially in a tight market where, if you are competing with a number of other offers, and you need a lot of closing costs. If somebody else needs few (closing costs) or none at all, the chances are you're not going to win out in that scenario. So, in a tough spring market, especially in Rapid City, you might need to consider moving to another lender.

You might need to consider not asking for ALL the closing costs.  Maybe you can spend a few more thousand on the closing costs and only ask for a certain percentage. There are also some down payment assistant programs that you can - possibly - look into.  These might help cover your down payment, so you've got more cash to play with your closing costs.

All these different options to hopefully get you into the property without having a whole lot of closing costs to offer.

If you need all your closing costs paid for, ask for it. See what happens.  You can always do that.

I hope that clears up any questions I got for you about closing costs.

Of course, every situation is different and unique. Make sure you talk with your lender and your realtor about how you can make it best for you and your situation, whether you’re the buyer or the seller.

Alright. Thanks so much for watching Tristan and his WHITEBOARD LIVE!

We'll talk to you next time!  Have a great day.

Tuesday, April 17, 2018

Real Estate Market Report - 1st Quarter 2018 | Tristan and his WHITEBOARD LIVE!

Tristan and his WHITEBOARD - LIVE!

1st Quarter 2018 Rapid City Real Estate
Market Report



Rapid City Real Estate Market...

Hey everybody, how you doing today?  Welcome to Tristan and his WHITEBOARD LIVE! - Monday edition...after the storm with my marker. Managed to actually remember it's we can do the Rapid City Real Estate Market Report for the first quarter of 2018.

The Numbers

I've got a lot of numbers behind me - talking about how real estate has been happening in the past 3 months...the first quarter of the year.  Not only have I shown the last year’s numbers but also wanted to give you the different numbers per month. We can not only get a historical look, we can also see the trend as we're moving down through the year.

So, in 2017 you can see here we've got the number of active listings: 519, 549, 587 through the year.  It started to pick up each month.

This year has been pretty consistent following the 570's every month.

Now keep in mind that this active number is just a one day snapshot. One day this is how many active listings there are.  The next day there might have been 15 withdrawals and so many solds.  But at least it gives us an idea of how many actives there are on the market right now.

The other things to a look at is the number of homes that went under contract.  This really gives this the idea of the pulse of the market right now because we can see how many homes are going under contract each and every month.  So you can see: 44, 53, 53 in 2017.  And obviously you can see here in 2018 we've got considerably more under contract, especially here in this last month. We're seeing that even though we have less active in this month (of March), but more under contract.

So, the Rapid City Real Estate Market is still moving along fairly swiftly.

Absorption Rate

And we'll talk about one other thing that gives us a good idea of what type of market it is - whether it be a buyers’ market or a sellers’ market or balanced market. This is called an absorption rate.

The absorption rate determines how long until the market it absorbed. Or...if everything is to remain the same, how many months before we no longer have any more homes to sell.

So, what I've done is I've taken a six-month snapshot to look at how many homes have sold in the past six months and divided that by the six months (to get a sold-per-month number).  That means we’re selling 141.17 homes each and every month. Divide that by the number of actives we have - right here -in 2018. And we get around...real close to 4 months of inventory.

What we're saying here is that if this sold rate continues and no other homes go active on the market, we have four months until we're out of homes to sell.

Typically speaking around six is a balanced market that shows a really good middle of the road where neither buyer or seller have an advantage.  You get above six that means that homes are languishing on the market a bit, buyers can have the upper hand because there’s a number homes on the market and the buyers feel if they don't like that home they’ll find another home.

Four shows us that we’re in a pretty solid seller’s market.  Fewer homes in the market.  Buyers are looking for properties.  The sellers hold the upper hand because they've got the inventory. They typically will rule the market when you get to this scenario.

So, based on the numbers here -  seller's market exists. Now is a good time to list your home.  Buyers are having difficulty finding property sometimes.

But you buyers - keep looking, keep chugging away!

Give me a call to help you with any other real estate needs or any more explanations of how the real estate market is doing.  But as you can see here, sellers’ market continues... Welcome to spring market in Rapid City.  Seem to be the way things are rolling the past few years.

Give me a call and let me know your thoughts are.

Tristan Emond, Mindful Living Realty... Tristan and his WHITEBOARD.

See you later!

Friday, March 30, 2018

Productivity 101 - Tristan and his WHITEBOARD - LIVE! | Video

Tristan and his WHITEBOARD - LIVE!

Productivity 101
Minimize Distractions



Hey Everybody! Welcome back to Tristan and his WHITEBOARD - LIVE!  Productivity 101.

Today, we're talking about a little productivity tip...some things that I've used to help me get more stuff done in actually less time.  

Productivity 101 is keep your distractions at a minimum. Now obviously, no grand new idea here, but just a couple of tips that I’ve used to help me be more productive in my business and in my life.

Do Not Disturb

First thing we're talking about today is Do Not Disturb.

There's a button on your phone that allows you to push that button and - you know what?  Calls won't come through. The text won't bother you, you will not get disturbed on your phone.

Why is this important?  Because we've had things rammed our mindset that, to be successful, you must get up at five every morning and work till seven/eight o'clock at night and go, go, go, go! And while that might work for a while, you're going to get burnt out.

So, to me, you deserve time for yourself. You deserve to take time in the middle of the day and put that do not disturb on. Relax, slow down, take a deep breath. Meditate if you need to, take a nap - I love to take a nap in the middle of the day... It really just refreshes me.  Puts me back in the spot.

You know how it is in the middle of the day - three o'clock - you're trying to get something done and you just keep pushing through it. It takes you all afternoon to get that done. When if all you would have done was just taken a 10-minute break, gone outside and taken a walk, put your do not disturb on, turn the lights off in the office and sleep on the floor for 10 minutes. You would have had that done in no time.  Because you've refreshed yourself.  You’ve given yourself the chance to stop and take a moment and get back on top of things.

Use it. Do not disturb button. Plus, it's great at night. I’m always laughing when some people say "Yeah, your phone call woke me up" and I was like, "Why did you respond? If you're asleep, put the do not disturb button on! Don't answer the phone, they can leave a message.

Notifications

Second part. Notifications.

Whether that be your voicemail notifications, your social media notifications, your text message notifications. Your Facebook post notifications. Choose how you're going to have these notifications alert you on your phone.

I turned off my email notifications. Also, I turned off my Facebook notifications. I don't want that thing buzzing every time I get an email, a Facebook post, or a comment... I'll be looking at my phone all day long. I won't have a chance to sit down and get motivated into what I'm doing.

There are scientific studies have been done, that once you are working on something and you get disturbed, it takes you long time (I'm sorry I didn't look up the actual article I've seen it before) as far as how long it takes to get back into the groove. So, every time your phone buzzes, you look at it "ok - I'll look at it later"...But then it's going to take you that much longer to get back into things.

Decide what notifications you need for your business, for who you are, to be notifying you. For instance, I got my text messages as buzzing. Which means that if someone is going to text message me, I feel, like that's probably something important something I might need to look at right away. The phone calls of course, are set to come through. But my e-mails, I'll check it every once and awhile. Facebook, I'll get on there when I need to. The rest of the social media, I'll get on to there and check it when I need to.

So, make sure that you know for yourself, what's going to be best for you to stay productive and not have everything bugging you 20 times during the day. Or 20,000 times during the day…

Focus Days

Number three:  A big shout out to my friend and mentor Jonathan for this tip that I've used.
Set yourself one day - or even half a day - for a focus day.

Use this day to create, to work on you personally, to work on your business. Not IN your business, but ON your business.

Turn the phone off - put on do not disturb. Don't check your email.

Plan and think about what you want to do for that day. I've created a Facebook posts on my focus days. I've created blog posts. Some days, I've done some seminars – ‘what do you want to become’ kind of thing - get your mindset right. Those type of things.

Find one day during your week - or even half day during your week. That you can set aside...let everybody know, “Don't disturb me. I'm busy. I'm doing this thing over here.” People can leave a message. People can leave e-mails - you can get back to them later.

Use this day to work on your business. To work on you. To allow that to happen. Amazing results with things you can get done.

I really started looking forward to my focus days - just so I could do the things I really wanted to do. To really create some things, create my website. Do some things like that.

So, here's the three tips that I have for you to increase your productivity.

Allow yourself to stop. Slow down. Focus on what you need to focus on, even if that focus on you, yourself, and you.

Alright! Thanks so much for watching.  Have an awesome day!  Talk to you later.

See you next time on Tristan and his WHITEBOARD.

Monday, March 26, 2018

674 Airway Court, Box Elder, SD | New Price on Home for Sale

674 Airway Court, Box Elder, SD$7,100 price reduction!

Was $233,000.  Now:  $225,900!


Lots to offer in this 3 bed, 2 bath, 3 car garage ranch style home:

3 Bedrooms on Main Floor
Includes Master Suite - bath with double sink vanity and walk-in closet
Main Floor Laundry
Open Floor Plan
Vaulted Ceilings
Gas Fireplace
Kitchen Island
Fully Fenced Backyard
NO Backyard Neighbors

PLUS the basement is partially finished and ready for a family room, 2 more bedrooms, a full bath, and storage.  There's even a room that would make an awesome root cellar or wine storage!

Watch the video above.  For more pictures and info:   www.674AirwayCourt.com.

Awesomeness!