Question About Rapid City Housing Market

[mommy2princesses]

Originally Posted by bradams

Hello all,

New to the forum and wanted to chime in since there is a possibility my family may be moving to Rapid this spring. So what's the state of the housing market like around town?
The housing market is holding its own here in RC, but if you have time to wait, I'd rent and then jump on a deal. That's what we did. We sold our home and came out a little ahead in 2008. We couldn't find a deal, so we rented a house on the westside for a year and then found a great deal in the fall of 2009! If you have that flexibility, find a realtor that is willing to lowball houses that have been on the market for awhile!

Some specific info I'd like to hear about from those who recently purchased or are attempting to sell a home is...

- How much are sellers coming off their listing price. I do realize that varies depending on how motivated one is to sell a home...
As I said, look into houses that have been on the market for a while. The house we ended up with had been OTM for over a year, and we got it for less than $120k off their original asking price! A super deal!!!

- Would prefer to stay in town and not end up in Rapid Valley. But looks like that's where most of the new construction is located. Where are the desirable neighborhood's located west of Highway 16?
We are west of Highway 16 and I love our neighborhood. I'd say anything off of Sheridan Lake Road is good and especially past Catron Blvd.

- It looks like property taxes are lower than where I'll be coming from at my current location. Anyone care to share what their property tax is on a home around 225K with me?
Not sure, I'd say around $3k if I had to guess??

- What public elementary schools are the best in your opinion. I've been to a few websites to get reviews...But want to hear from parents that live there on where they would send their kids if they had the chance...
Corral Drive Elem. , Meadowbrook Elem.

- We want to be with 10-15 minutes of retail stores...So interested in hearing where the desirable neighborhoods are that are close to retail but away from the Interstate.
Same as the ones I listed above. But you will be 15 minutes to get to most retail locations.

I certainly do appreciate your comments and feel free to share anything else with me that you feel might be useful while deciding where to purchase our future home. Were looking to stay under 230K and hope to get into new construction or something under 5 years old.

Hope that helps!!! Good luck with your move. We moved here 5 years ago from out of state. It definately took an adjustment, but we have learned to appreciate it for what it is!

[bradams]

Wow thanks a bunch for the detailed info today!!! Were not sure if the move would take place this spring or later in the summer but I think we need to be ready to roll with things begin to happen. It all depends on when the job opens up and all...There's plenty of uncertainty in that arena unfortunately. I'm set on living west of 16...Sounds like some good neighborhoods over in that area. We might end up taking a trip over there at some point if we don't re-located this spring. The more I hear about the area from locals...The more I likee...

[Himpurs]

I got into the district quite easily. I would say to just call the district office and ask those questions. If nothing else they can help you get into contact with whoever you would need to speak to.

[bradams]

So how long ago was it that you were offered a job and also do you work in the elementary - middle -or high school level? I'm curious to hear if your a recent hire as in the last year or two or several years ago before the teaching job cuts began to take their toll from coast to coast...

[Himpurs]

August 2010.

[bradams]

That's certainly what we wanted to hear...I think were in an area that's saturated with individuals coming out of college looking for teaching jobs. There are 3 major universities with teaching programs within 30 miles of our area that's about the size of Rapid. We really hope that our move will happen within the next 4 months...That way my wife might have a chance to apply for a RASD position for the upcoming 2011-2012 school year...

[AZtoTX]

Originally Posted by Himpurs

Property taxes- we were told that Box Elder had the highest property taxes out of almost all of SD. But recently had a friend who lives in town tell me hers are over 4k a year and her home is smaller so, maybe things have changed. Ours in Box Elder are $3400 on a 2500 sq ft totally finished house on a huge oversized lot. Our old house in BE was $3k on 2000 sq ft.

If you look in BE be sure to really check things out. There are some areas you might not like once you live there but wouldn't realize upon initial visit. Alot of BE is new/er construction as it is growing rapidly.

Could you elaborate on the BE areas (i know it subjective - but i am asking for an opinion)? Is the anywhere in the RC metro area where property taxes are "reasonable"?

Thank You

[Himpurs]

Originally Posted by AZtoTX

Could you elaborate on the BE areas (i know it subjective - but i am asking for an opinion)? Is the anywhere in the RC metro area where property taxes are "reasonable"?

Thank You

I am not sure what you would consider reasonable. SD in general sometimes seems higher than other areas, but considering we don't have state income tax and lower vehicle tax, lower vehicle registration it all evens out. I always thought BE was higher than other nearby areas but recently was told of my friends taxes. She lives in RC and has a smaller home than what we have and her taxes are higher, I honestly was quite surprised.