Home for Sale at 1012 Alma Street, Rapid City, SD 57701

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1012 Alma Street
Rapid City, SD 57701

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Property Details

List Price:	$515,000
Beds:	4
Baths:	3
Status:	Pending
SqFt:	2966
Agency:	Keller Williams Realty Black Hills

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	2007
Notes:	Listed by Elissa Erickson, KWBH, 605-877-4060. Never before offered for sale- custom built ranch style home with a finished basement on a beautiful corner lot! 4 bedrooms, 3 bathrooms and 2,966sqft The main level is thoughtfully designed to ensure easy, one-level living The large living room has trayed ceilings and a picture window overlooking the front yard Corner kitchen with stainless steel appliances, granite countertops, ample cabinet space (including a stand up pantry!) and a south facing garden window Cozy breakfast bar for conveninent meals, or a formal dining area for larger groups Main floor master suite in back corner of home for privacy, with a large walk-in closet and ensuite bathroom 1 additional bedroom with jack-and-jill bathroom access and convenient main floor laundry with utility sink complete this level Basement offers a 'T' shaped family room with large windows and fantastic natural light, 2 bedrooms with egress windows, 1 full bathroom and a mechanical room with storage space Outside boasts an impressive, fully finished, attached garage with extra-deep tandem space- perfect for vehicles or secured heated workspace Maintenance free front and back decks for relaxing, and beautiful landscaping throughout the corner lot, maintained by a sprinkler system *Privately owned property behind for no immediate neighbors! Nestled in a growing neighborhood near local businesses and easy access to major thoroughfares- call today!
MlsNumber:	79412

Listing Provided By:	Keller Williams Realty Black Hills, original listing
Name:	Keller Williams Realty Black Hills
Phone:	(605) 343-7500
Office Name:	Keller Williams Realty Black Hills SP
Office Phone:	(605) 343-7500
Agent Name:	Elissa Erickson
Disclaimer:	Copyright Â© 2024 Mt. Rushmore Area Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest.

The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered.

VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale.

This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments.

Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.

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