Home for Sale at 8416 Albertta Drive, Rapid City, SD 57702

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8416 Albertta Drive
Rapid City, SD 57702

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Property Details

List Price:	$482,500
Beds:	3
Baths:	2
Status:	Pending
SqFt:	2270
Agency:	Keller Williams Realty Black Hills

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Description/Comments

Lot Size:	--
Property Type:	Residential
Year Built:	1978
Notes:	Listed by Pete Jensen, KWBH, 605-484-6713. Loved by the same family for over 35 years, this raised ranch style home has been meticulously maintained and thoughtfully updated! Situated on a nearly 1 acre lot, this home offers 3 bedrooms, bonus room, 2 remodeled bathrooms and 2,270sqft Upper level has newer flooring throughout, accented by newer windows and beautiful natural light A large living room provides great space to relax, and enjoy views through the bay window overlooking the neighborhood Open concept kitchen has ample cabinet space, quartz countertops, white appliances, unique breakfast bar seating and a convenient walk-in pantry for plenty of storage 2 bedrooms and 1 updated bathroom on the main level Walkout ground level has newer flooring, an oversized family room conveniently split into two separate areas to use as you wish 1 bedroom, bonus room and a beautifully renovated bathroom complete this level Outside has an oversized detached 2-car garage with rafter storage and rear workshop space *Nearby gravel pad gives added space for boat or RV parking, plus ample space to add a shop. Recent updates include: sump pump and interior drain installed in 2019, fireplace cleaned in 2022, french drain along the garage exterior, new roof in 2024, HVAC recently serviced, newer laminate flooring, kitchen and bath updates, updated fixtures, recent siding and windows- the list goes on! Located in a quiet neighborhood outside city limits and 15min from Monument Health.
MlsNumber:	80346

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:	Pete Jensen
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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