REC Brochure November 2020

MLS#65362

$

98,500

Lot 15 Centennial Vista Ave • Spearfish

Beautiful level, wooded lot with electric and water to lot line. Stunning views of Lookout Mountain, Centennial Valley and the Black Hills. You will appreciate the abundance of Aspen, Oak and Pine trees, as well as, a variety of wildlife. Water fee is $50/mo once home is built.

We are real estate professionals that will work hard for you!

INSIDE THIS ISSUE Page 3 Residential Check out our residential listings!

Page 4 Land Check out our land listings!

TOP PRODUCER Cathy Buckmaster September 2020

Page 5 Commercial Check out our commercial listings!

140 W. Jackson Blvd. • Spearfish, SD 57783 605-642-2525 • www.spearfishrealestatecenter.com

Why Expensive Renovations May Not Boost Your Sale By: Danielle Braff

As modest increases in inventory begin toattract more buyers to the market, it may seem wise for your sellers to undertake renovation projects to boost their competitive edge. Kitchen and bathroom upgrades, for example, are among buyers’ most desired features and can fetch a handsome return on investment, according to the National Association of Home Builders. But even as remodeling demand rises— the NAHB predicts home improvement activity will jump 1.6% and 1.1% in 2019 and 2020, respectively— some real estate professionals aren’t sold on the idea that renovating always fast-tracks a home sale.

There are two types of homes that sell quickly in today’s market: fixer-uppers and completely renovated properties, says Blayne Pacelli, a sales associate with Rodeo Realty in Studio City, Calif. You’ll need to pay attention to local market dynamics to determine the salability of each type of home in your area. For example, if your market has an abundance of investors, who typically renovate anyway for flips or rental properties, your sellers may not need to upgrade their homes in order to sell. Traditional buyers, however, may want a move-in–ready property.

In the Los Angeles neighborhood where Pacelli works, investors and traditional buyers are both aplenty. His renovation advice to clients depends on each one’s situation. “If a house is already fixed up except, say, one bathroom, I would suggest updating that bathroom to [appeal to a wide market],” he says. “If the bathrooms and kitchen need updating, I would leave them as is” and market the home to investors.

Weighing Your Options. There’s no doubt that home improvement increases property values, but renovating can be expensive—and there’s no guarantee your clients will recoup all of the costs at resale. With that in mind, you must help your clients decide: Is the expense of remodeling worth it? Small improvements rather than large-scale projects may suffice. “Timing matters as does the cost to renovate,” says Elisa Uribe, a sales associate with Golden Gate Sotheby’s International Realty in Oakland, Calif. “It is a seller’s market in our area. In some cases, minor changes such as interior and exterior painting and updating the landscaping can add a lot of curb appeal and make the house more appealing to a buyer.”

Uribe has also used virtual staging to present renovation options to buyers, relieving her seller of having to do the work. In March, she sold a client’s unrenovated three-bedroom, one-bathroom home, built in 1910, at the list price of $564,000. The sale occurred even though the seller had not updated the property’s exterior siding, windows, landscaping, and hardwood floor finishes.

The buyer was attracted to Uribe’s virtual staging of the home, which showed what it would look like with the updates and new furniture. Uribe also virtually staged the home’s layout with an additional bathroom to show buyers the renovation possibilities. “My client was out of state and didn’t have the time, or the funds, to update the house himself,” Uribe says. “The buyer was an investor who planned to update the property and put it back on the market fully renovated.”

Less Is More. Sometimes, some form of home improvement is necessary to elevate the profile of an otherwise undesirable property. In these cases, it may be best to choose simple projects with big impact, such as refreshing the paint or hardwood finish. James McGrath, co-founder of Yoreevo LLC in New York, says one of his buyers recently closed on a condo that had been extensively renovated. The seller, an interior designer, saved money by designing the remodeling projects herself, but she still spent $100,000 on the actual work, which included gutting the kitchen and bathroom among other changes, McGrath says. “If it’s not the highest price per square foot in the building’s history, it’ll be pretty close,” he says of the deal.

The renovated unit received a lot of foot traffic, with 60 to 70 showings. “That being said, the owner won’t make money on the renovation,” McGrath says. Though the renovation generated a higher price for the condo—which McGrath’s client bought for $690,000— it wasn’t enough to cover the seller’s remodeling costs, he adds. This is an example of why McGrath suggests that homeowners avoid big projects prior to selling.

Another renovation con: While the improvements may be a hit with some buyers, others may have different preferences and won’t pay a higher price for the work that was done. In fact, McGrath’s buyer brought in his own contractor because he wanted to replace the tile in the kitchen and backroom.

Though the tiles were new and in pristine condition, the buyer had a different vision for the space, McGrath says. “Presumably, the seller would have gotten the same offer from [my buyer] had she not spent thousands of dollars on those tiles.”

Protect Clients’ Bottom Lines. You can help keep your sellers on budget by reminding them that “restoring the home to a good state of repair” is all that’s necessary before listing, says Michael Edlen, SFR, a sales associate at Coldwell Banker Pacific Palisades in Pacific Palisades, Calif. But that may mean something different in each market. In areas where buyers have the advantage, a seller may need to do more work on his or her home. “If an owner does not perform basic repairs, many buyers tend to ‘horribilize’ what they think they see and how much it could cost to fix it.”

If your client’s home needs an overall update, focus on the smallest items that have the biggest impact first and test it on the market before deciding to invest in larger projects. Updated light fixtures and window treatments, which are eye-catching accents, are often enough to move buyers, says Dawn Levy, a sales associate with Berkshire Hathaway HomeServices Georgia Properties in Atlanta. If your clients want to take it a step further, they can install new energy efficient windows, which can be costly but is a huge selling point with buyers, Levy adds. “A home with good bones that needs a cosmetic facelift is much more appealing to buyers,” she says. “Price point also plays a role here.”

Of course, the value of any renovation depends on your market. What works in one area may not work in another, so you must be knowledgeable about your specific neighborhood. In New York, for example, condos and townhomes that aren’t completely renovated typically don’t get much attention from buyers, says Eric Rosen, a broker with Halstead Manhattan LLC. “If the apartment or townhouse requires work, then the seller would be penalized,” he says. “This means that the property will trade for less than the repairs would have netted in a sale.”

RESIDENTIAL 705 Pro Rodeo Dr, Spearfish $ 616,000 • MLS#65205

21164 Gilded Mountain Rd, Lead $ 549,500 • MLS#66288

2699 Tumble Weed Trl, Spearfish $ 539,900 • MLS#66157

7820 Duke Pkwy, Spearfish $ 399,500 • MLS#66207

950 Kerwin Ln, Spearfish $ 369,900 • MLS#66119

10738 Victoria Ln, Spearfish $ 359,000 • MLS#66185

18662 Bait Rd, Belle Fourche $ 489,000 • MLS#66197

2030 12th Ave, Belle Fourche $ 277,000 • MLS#64490

4 BR • 3.5 BA • 0.74 Acres • 3,546 Sq. Ft. 4 BR • 3 BA • 0.53 Acres • 2,404 Sq. Ft. 5 BR • 3 BA • 1 Acre • 3,198 Sq. Ft. 3 BR • 2 BA • 0.46 Acres • 1,750 Sq. Ft. Have it all with this zero entry, quality home! This beautiful cabin has 2 fireplaces, vaulted Enjoy the rock fireplace, hardwood floors, Construction to begin October. Owner’s suite You will love the convenient location with ceilings, a finished walkout basement, a hot tile floors, vaulted ceilings, granite counter- has dual sinks, walk-in shower & walk-in closquick access to schools, parks and shopping tub and 3 covered decks to take in the amaz- tops, and all the extra touches that make this et. The other bedrooms are on the opposite within just a few minutes, all on a .74 Acre lot. ing views.This cabin comes fully furnished! home a comfortable place to call home. side of the house for added privacy.

4 BR • 2 BA • 3 Acres • 4,245 Sq. Ft. If you want to work without being away from your family, this is exactly what you need!

A shop + home, the perfect combination of garage/work space with living quarters.

4 BR • 2 BA • 1.37 Acres • 1,728 Sq. Ft. Situated in Spearfish Canyon,just a short walk to the creek sits a cozy Cedar cabin tucked back into the trees. This property can be used as a vacation rental.

4 BR • 3 BA • 2.40 Acres • 3,228 Sq. Ft. A fabulously well constructed home, with much attention to detail is what you get in this home. Easy access to town, yet the privacy of the country.

11468 Foothills Ranch Ln, St. Onge $ 575,000 • MLS#65407

21187 Lost Camp Trl, Lead $ 669,000 • MLS#65916

21178 Gilded Mountain Rd, Lead $ 518,000 • MLS#61609

2 BR • 2.5 BA • 41 Acres • 1,821 Sq. Ft. 6 BR • 3.5 BA • 0.39 Acres • 3,719 Sq. Ft. 4 BR • 2.5 BA • 0.38 Acres • 2,368 Sq. Ft. Rare opportunity to own a Ranchette in the This “cabin” at Terry Peak stands with the Amazing Cabin at Gilded Mountain...This is a picturesque St. Onge Valley where False best of them with unparalleled views and fully furnished cabin with a good summer Bottom Creek meanders around the property expansive outdoor entertaining spaces, plus a vacation rental history. Truly a turnkey properwith an older home and large out buildings. rare garage for all your toys and gear. ty that is in a convenient location to the BH.

4 BR • 3 BA • 0.51 Acres • 2,768 Sq. Ft. This house has rustic pecan cabinets in a beautifully done kitchen with storage galore, a wood working shop attached to the garage, huge yard with raised bed gardens & a pond.

LAND TBD McGuigan Rd, Spearfish $ 525,000 • MLS#65809

25.35 Acres • Subdiv.: NO • Coven.: NO Conveniently located on McGuigan road off of Exit 8 and within minutes of downtown Spearfish, this 25 acres is ready for development. Zoned Suburban Residential.

TBD Crow Peak Bench, Spearfish $ 440,000 • MLS#61629

TBD Lookout Mtn Rd, Spearfish $ 314,900 • MLS#64075

19992 Ridgefield Loop, Spearfish $ 175,000 • MLS#63600

2003 Pony Express Ln, Spearfish $ 89,900 • MLS#64537

TBD Mountain Plains I, Spearfish $ 49,900 • MLS#57358

108 Custer St, Belle Fourche $ 150,000 • MLS#66199

40 Acres • Subdiv.: NO • Coven.: NO 29.32 Acres • Subdiv.: YES • Coven.: YES 3.39 Acres • Subdiv.: YES • Coven.: NO This is a gorgeous piece of BH land with The property features a forested building 360 degree views of the Black Hills and South views of Higgins Gulch, Crow Peak, Lookout site and then flows into the grassland below. Dakota Prairie can be found at the top of this Mtn and the Northern Plains. Borders G,F&P All accessible from Lookout Mtn Rd. Truly a lot with multiple building sites situated with several building sites to choose from. gorgeous piece of land with a view of the hills. between mature pine trees.

Cover Property

Lot 15 Centennial Ave, Spearfish $ 98,500 • MLS#65362

3.39 Acres • Subdiv.: YES • Coven.: YES Beautiful level, wooded lot with electric and water to lot line. Stunning views of Lookout Mountain, Centennial Valley and the Black Hills. Water fee is $50/mo once home is built.

TBD Avalanche Rd, Sturgis $ 750,000 • MLS#64483

83.71 Acres • Subdiv.: NO • Coven.: NO Approximately 1/2 mile to Lazelle Street sits 83.71 acres including 102 camper hookups, with 2 septic systems and a shared water system with the adjoining campground.

0.38 Acres • Subdiv.: YES • Coven.: YES Corner lot in Sandstone with views of Spearfish Mountain, Crow Peak and easy access Lookout Mountain hiking trail. The level lot is ready to build your future home.

TBD Alder Pl, Sturgis 730,000 • MLS#64454

$

2.57 Acres • Subdiv.: YES • Coven.: YES A 6.46 Acres • Subdiv.: NO • Coven.: NO RARE FIND! 2.57acres in Mountain Plains I. Fantastic view overlooking the Belle Fourche Great building options, scattered pines and River. Great for a homestead, commercial quick access to town on paved roads! Grab it business, storage units or whatever before it’s gone. Very few lots left available. vision you have. No covenants.

14956 Old Highway 212, Newell $ 179,000 • MLS#66184

48.47 Acres • Subdiv.: NO • Coven.: NO 160 Acres • Subdiv.: NO • Coven.: NO Located less than 1/2 mile to Lazelle Street The 40x50 steel building is fully foam insulatsits 48.47 acres with 2,400 lineal feet of I-90 ed, has an overhead door & propane tank for frontage, 3 billboards and endless developthe propane heater. The dugout is deep and ment opportunity. Electricity runs length of lot. always holds water according to the owner.

FARM/RANCH 11644 Valley 1 Rd, Belle Fourche $ 963,000 • MLS#65751

356 Highway 212, Belle Forche $ 749,900 • MLS#65980

214 Acres • 2 BR/2 BA Home 66 Acres • 4 BR/4 BA Home This gorgeous property has approximately 94 An extremely rare find, nestled in the pines, acres of alfalfa under a center pivot irrigation close to paved roads, and a home beyond system. There is a ranch style home in good your wildest dreams. The composite deck on condition and a large pole barn. the back of the home is absolutely beautiful.

14116 Sturgis Rd, Piedmont $ 1,995,000 • MLS#62757

432 River Rd, Alva, WY 1,250,000 • MLS#66183

$

34.16 Acres • 4 BR/3 BA Home This parcel includes more than 1,600 ft. of I-90 frontage and over 1,700 ft. of service road frontage. Currently the property is being used as an equestrian center.

160 Acres • 3 BR/3 BA Home Beautiful BF River property at the end of the road. The home is site built in 2008, with complete main level living. The partially insulated machine shed is 40’x60’ with 14’ sidewalls

TBD Industry Pl, Whitewood $ 77,800 • MLS#59751

14116 Sturgis Rd, Piedmont $ 1,295,000 • MLS#64206

COMMERCIAL/INDUSTRIAL 125 Industrial Dr, Spearfish $ 1,750,000 • MLS#64128

51,490 Sq. Ft. • Subdiv.: NO • Coven.: NO Easy access to I-90. This building features 7,500 SF of office space, 30,000+SF of warehouse/production space, loading docks and roughly 13,500 SF of paint/prep space.

TBD Sturgis Rd, Piedmont $ 525,000 • MLS#64207

12 Acres • Subdiv.: NO • Coven.: NO This 12 acre parcel includes I-90 frontage and service road frontage. 1 billboard is located adjacent to I-90 on the northern edge of the property with a lease agreement in place.

741 Main St #250, Spearfish $ 950/mo • MLS#63098

1,442 Sq. Ft. • Subdiv.: NO • Coven.: NO Take advantage of this first class location in Spearfish. Newly constructed in 2018, this 2nd floor office/retail space is yours for the taking. Up to 7,000 sq. ft. is available.

0.91 Acres • Subdiv.: NO • Coven.: YES One of the finest industrial parks in the Northern BH. Easy access to the Interstate with paved roads to the lot. Level lot, power, gas and water to site.

22 Acres • Subdiv.: NO • Coven.: NO This 22 acre parcel includes I-90 frontage and service road frontage. A 2,400 sq. ft. home is situated at the entrance of the property and includes 4 BR, 3 BA and a 2 car garage.

Looking for a New Place? Dispelling Refinancing Use This Time to Create Myths Your Wishlist “Refinancing” is a scary word for many people, but

that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.

Now that many of us have spent several weeks living inside, we’ve become quite familiar with our homes — in some cases, maybe too familiar. If you were planning to move before COVID-19, and still plan to do so when the timing is right, you might want to take this time to reflect on what’s working and what’s not in your current home. For instance, those stairs you’ve climbed 10 times a day may have kept you moving while you’ve stayed home, but maybe you’d like stair-free living in your next home. Or perhaps the yard you thought you could do without has now become a must-have.

We’ve come up with a list of questions to help you pinpoint what you like and don’t like about your current home so you can find more comfort and pleasure in your next one.

What’s working for you — and what’s not? On a scale of 1-10, how do you like your current home? What’s your home’s best quality? And its worst quality? Do you like the style of your home? If not, is there an architectural style or era you prefer? What’s your favorite room, and what makes spending time there pleasurable?

Space and flow: How do you feel when you’re at home?

Do you have enough space or too much? Where could you use more/less space? How would you describe the layout — an open floor plan or more compartmentalized?

Does it suit your lifestyle? Do you have enough or too many bedrooms? Bathrooms? Do you like the number of levels (single or multistory)? Are you happy with the windows (enough natural light, well-placed, too sunny)? Do you like the fixtures and finishes? Is there a specialized room you’ve never had but have always wanted (such as a home office, workout room, sewing room, laundry room or mudroom)?

What’s outside — and how does it affect your experience of home? If you have an outdoor space, do you enjoy spending time there? If you don’t have one, do you feel like you’re missing out? Do you enjoy taking care of a yard… or feel burdened by it (be honest!)? Does your home have curb appeal? If not, what needs to be improved? Do you have adequate parking? Is a garage or carport a musthave? How much time and effort does the exterior require for upkeep (painting, staining, etc.)?

Your neighborhood: Community connections can make life all the sweeter. Are you happy with your neighborhood? Think about all its characteristics, including walkability, parks, nearby activities, density, noise level and neighbor involvement. Do you have to travel far for basics such as groceries or a doctor’s appointment? Are you happy with your commute? Are there enough activities going on around you — or too many?

YOU’RE NOT TOO LATE. For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.

IT’S NOT TOO TIME CONSUMING. Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes.

There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?

ARMS CAN BE REFINANCED, TOO. Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.

Holiday Office Closures November 26 • Thanksgiving November 27 • Friday After Thanksgiving December 24 • Christmas Eve December 25 • Christmas December 31 • New Year’s Eve : Close as Noon January 1 • New Year’s Day

Our Contact

140 W Jackson Blvd.

Spearfish, SD 57783 605-642-2525

Our Staff

Our Specialties

• Honesty and Integrity • Personalized and Quality Service for our Clients • Worldwide Marketing and Technology • Commitment to Client Needs

Tina Grable

Jennifer Gabriel

605-717-5555

605-642-2525

Shelby Moyer

Grace Ellenbecker

605-642-2525

605-642-2525

RERC Property Manager

Business Manager

Our Company

The Real Estate Center of Spearfish has been listing and selling property in the Black Hills area since May of 1992. Our owners, broker associates and licensed broker assistants have a combined experience of over one hundred fifty years in the business.

Over the past two decades, we have grown and prospered in pace with the strong economy of the Black Hills. We handle all areas of Real Estate including Residential, Multi-Family, Commercial, Farm/Ranch and Land Development. Our team takes pride in their professionalism, hard work ethic and outstanding customer service.

Administrative Assistant

Marketing Director

Our Agents

Sue Cramer

Ryan Wordeman

605-645-2391

605-484-7803

Owner/Managing Broker

Owner/Broker Associate

Lori Caldwell DeVries Jason Richards

Kari Engen

Kade Welfl

Beth Mathis

Owner/Broker Associate

Owner/Broker Associate

Owner/Broker Associate

Pattie Parrett

LuAnn Bice

Cathy Buckmaster

605-641-0670

Owner/Broker Associate

605-381-1087

605-645-1809

605-660-4431

605-210-2222

Stephanie Eddie

Shelby Cihak

Nellie Krueger

Kellie Peotter

John Marta

605-645-6315

605-641-1835

605-645-7473

605-641-7295

605-641-9767

Broker Associate

Broker Associate

Broker Assistant

Broker Associate

605-645-6284

Owner/Broker Associate

605-641-7529

Broker Associate

605-210-0010

Broker Assistant

Broker Associate

Broker Assistant