Rapid City/Black Hills Jobs (Sioux Falls, Deadwood: short sale, foreclosure, to rent)

[DeadwoodJ]

SOrry to hear about you're house BH......You might want to look at the Sanford National Science Laboratory that they are building in Lead/Homestake Mine area.....I think they're supposed to have some high paying jobs but i'm not sure....

[blackhillsdreams]

Thanks Deadwood. I'm set for a job here in Florida for the moment and I think I need to get my finances in order for a little while before I make the jump to the hills. I'm not sure how long that will be yet, it all depends on how things go at my new job. At least I got a job with a super nice company and really nice people.

[Jammie]

Oh yea, you'll make it to living in the Hills some day. The houses are a bit pricey out there though~kind of like in a lot of areas of the country.

I guess one of the ways that people seem to make it here is we generally stay with our employer for quite a while. It's kind of rough to jump from job to job cause you'd never make anything around here. It seems like once you stay some place for a few years, you do get decent raises.

And as far as the Great American Dream~been there and done that. Unless you actually have the $$ to outright pay for the house, it's more like a burden then a dream. If the house payment isn't due, the taxes and insurance are. If nothing is due, something will definitely break down and have to be replaced. It's something nice to have while you raise your family, but basically, there are VERY few Americans who are actually homeowners. The banks and the mortgage companies are the real title holders.

[blackhillsdreams]

Originally Posted by Jammie

It's something nice to have while you raise your family, but basically, there are VERY few Americans who are actually homeowners. The banks and the mortgage companies are the real title holders.

YEP, I AGREE COMPLETELY! I will be renting most likely for a long time before I ever buy a house again if I ever do. I do have to say that for the last three years, even the illusion of having my own house, felt good to come home to...

The process I went through to rent the place we are moving to was degrading and embarrassing. The rental agent made me feel like a criminal. I could do without that for sure.

[luv_it_here]

Maybe I'm one of the lucky ones, but I had 3 job offers that were all over $35K within the first 3 months after I moved to Rapid City. It took a lot of looking, and a lot of applying, but I've got the degree, and experience to prove myself. I took a paycut moving out here, and yes, housing prices are somewhat high, but not nearly as bad as living in a large city, like I came from. Right now I rent an apartment, but I would expect to be able to find something nice sized, on the Westside, in a nice neighborhood, for between $140K and $175K, or even less. But, then again, maybe my standards are different. I prefer an older house with some style and history in it, to the crud that's going up in Rapid Valley. Those look like Lego houses, just like the suburbs I'm used to in a much bigger city - and that's a big part of the reason I LEFT the bigger cities to move here!

As for jobs - the hospital hires a lot, the city has better wages than the county, Ellsworth still has the occasional decent civilian job opportunity. There's plenty of retail jobs, and at least a few larger corporations around town, that have enough turnover to keep a few jobs in decent pay ranges out there all the time. Definitely use the SD Dept. of Labor website, you can search through job postings (most of the major companies post all their jobs there, to meet federal EEOC guidelines), and you can put in a salary range to see what type of pay you might be expecting.

[blackhillsdreams]

Originally Posted by luv_it_here

Maybe I'm one of the lucky ones, but I had 3 job offers that were all over $35K within the first 3 months after I moved to Rapid City. It took a lot of looking, and a lot of applying, but I've got the degree, and experience to prove myself. I took a paycut moving out here, and yes, housing prices are somewhat high, but not nearly as bad as living in a large city, like I came from. Right now I rent an apartment, but I would expect to be able to find something nice sized, on the Westside, in a nice neighborhood, for between $140K and $175K, or even less. But, then again, maybe my standards are different. I prefer an older house with some style and history in it, to the crud that's going up in Rapid Valley. Those look like Lego houses, just like the suburbs I'm used to in a much bigger city - and that's a big part of the reason I LEFT the bigger cities to move here!

As for jobs - the hospital hires a lot, the city has better wages than the county, Ellsworth still has the occasional decent civilian job opportunity. There's plenty of retail jobs, and at least a few larger corporations around town, that have enough turnover to keep a few jobs in decent pay ranges out there all the time. Definitely use the SD Dept. of Labor website, you can search through job postings (most of the major companies post all their jobs there, to meet federal EEOC guidelines), and you can put in a salary range to see what type of pay you might be expecting.

I'm happy for you that you love it there and are doing good. You do realize that $35K per year will not get you a $175K home right? Even $140 will be pushing it. By the time you'd pay a mortgage and the super high property taxes, then electric, water, etc. factor in maybe a small car payment and groceries, and you'll be behind

[DannyBanany]

Originally Posted by blackhillsdreams

You do realize that $35K per year will not get you a $175K home right?

And especially not on the Westside. Most homes there start at $250K+. $175K may not even get you a house on the Southside. You might get stuck with a Lego House in Rapid Valley!

[luv_it_here]

I didn't say I was making $35K, I said all my offers were over that. Reading some of the posts, you would think that it's impossible to make more than $15/hr, and I just thought I'd throw in there, that there really are normal jobs out here, with normal salaries, that are pretty comparable to other parts of the country.

As for my house - I don't mind putting in some sweat equity to make it the way I want it. I look for structure, location, and possibility. I'm leaning towards Canyon Lake area, because of all the open space with the parks, and the bike trails. I'm pretty sure I can find something I'll love in there for right around the price I mentioned above.

[blackhillsdreams]

Originally Posted by luv_it_here

I didn't say I was making $35K, I said all my offers were over that.

I understand, I apologize for seeming like I was taking a shot at you. I wasn't. I did however, assume that those offers being over $35K were less than $40K (or you would have said they were over $40K...). Even 40K won't buy you a $175 K house these days. it would be stressful even at $50K.

According to a mortgage calculator figuring what you can afford to borrow, the following example with minimal car payments, utilities, property taxes, gasoline, homeowners insurance, etc. says you can borrow negative $34,478 to buy a house even making $50K... the chart is below.

Front-End Ratio
Monthly gross income $4,167
Front-end ratio 28%
Calculated payment for front-end ratio $1,167
Back-End Ratio
Debts and obligations $1,500
Percent of gross income 36%
Maximum percentage available for mortgage payment 0%
Calculated payment for back-end ratio $0
Payment Calculation
Minimum of the two ratio options $0
Less: taxes and insurance $267
Equals: maximum allowable payment $-267
Calculated mortgage amount $-44,478
Down payment $10,000
Home value you can afford $-34,478

In most instances, $50k is considered a decent income. According to industry standards, that won't get you a mortgage for anything at all. I even threw in a $10K down payment...

I'm sure there are a number of jobs in Rapid City that are $50K and maybe some even double that. Those jobs will go to a very select few that have connections and know the right people and possibly a stack of degrees and other credentials. The vast majority of jobs will be less than $10 per hour, and many of those will be part time.

I'm not complaining, those are just the facts. It will be literally impossible to purchase a home and live a remotely comfortable life under those circumstances. Mark my words, Kaski homes is building $250K to over $500K homes all over, that can not continue for too long. Remember, MOST of that kind of money was coming from California when people sold their high dollar homes for huge profits and could pay cash for homes in Montana, South Dakota and Colorado. California is now #1 or #2 for foreclosures in the country and that money is drying up quickly. it will be interesting to see where this all leads in the next few years.

Lastly, if Israel lobs a nuke over to iran or vise versa, oil goes to $350 a barrel and Gas goes to $12 or so... All bets are off everywhere and this is certainly possible...

[luv_it_here]

Originally Posted by blackhillsdreams

I understand, I apologize for seeming like I was taking a shot at you. I wasn't. I did however, assume that those offers being over $35K were less than $40K (or you would have said they were over $40K...). Even 40K won't buy you a $175 K house these days. it would be stressful even at $50K.

According to a mortgage calculator figuring what you can afford to borrow, the following example with minimal car payments, utilities, property taxes, gasoline, homeowners insurance, etc. says you can borrow negative $34,478 to buy a house even making $50K... the chart is below.

Front-End Ratio
Monthly gross income $4,167
Front-end ratio 28%
Calculated payment for front-end ratio $1,167
Back-End Ratio
Debts and obligations $1,500
Percent of gross income 36%
Maximum percentage available for mortgage payment 0%
Calculated payment for back-end ratio $0
Payment Calculation
Minimum of the two ratio options $0
Less: taxes and insurance $267
Equals: maximum allowable payment $-267
Calculated mortgage amount $-44,478
Down payment $10,000
Home value you can afford $-34,478

In most instances, $50k is considered a decent income. According to industry standards, that won't get you a mortgage for anything at all. I even threw in a $10K down payment...

I'm sure there are a number of jobs in Rapid City that are $50K and maybe some even double that. Those jobs will go to a very select few that have connections and know the right people and possibly a stack of degrees and other credentials. The vast majority of jobs will be less than $10 per hour, and many of those will be part time.
...

I used $35K because that's roughly $17/hr, and most people say it's impossible to make more than $12 around here. I'll admit, I'm a professional, and I don't worry about my income, and I'm a bit of an optimist, but I still think that the job opportunities are here, as long as a person comes in with a good attitude (and a GREAT backup plan)

I had no connections to town at all, and landed a great job, that I love. But, it took lots of planning ahead of time, before I moved here, and a few months of living pretty thin, while I went through interviews. I was researching businesses, job ops, and residential areas every day for at least 4 months before I got here. I knew the area I wanted to be in, the type of job I wanted to have, and the companies that might offer those jobs. I checked out random jobs with the DOL, and then researched the companies the jobs were from, to see what their baseline pay was for my career areas. I chose somewhere that my commute would be minimal, and my opportunity to advance was not as limited as other options.

As for housing - first, I don't carry debt at all, so you can add the $1500 back into my monthly debt to income ratio. Student loans are all paid off, as are the cars, and I don't believe in credit cards, except to hold my hotel reservations. Second, just because they are building $300K homes out here, doesn't mean I have any desire to live in one of them. I don't need 2500 sf of house to clean, and I prefer something older, with more character. I can paint, shingle, tile, and fix most minor electrical and plumbing issues all by myself. I think being a part of fixing your own home, helps you build ties to it. I believe in living below my means, not above them, and I think the world is a better place to experience when you can be comfortable where you are. That's one of the reason I wanted to move to Rapid - I love the weather, the people seem friendly, the town is pretty laid back, but big enough to not go crazy in, and I think my experience here will only get better, once I get out and start to actually meet some friends, not just coworkers.

Now, if anyone goes lobbing any nuclear bombs at anyone, then I'm sure our economy will change. In a town like this, the economy is a little more unstable anyways. Just losing one major employer to a different city, could hurt a lot of people. But, it seems to be getting better with Cabela's and all the rest of the retail coming in. Yeah, retail pays crap, but you need retail to attract residents, and you need residents to attract bigger business. You have to start somewhere!