What $629,000 might buy for a single-family home in Fall River County, SD (Hot Springs SD area)

[GON]

South Dakota might be one of the very strongest real estate markets in the USA, even with potential storms coming in residential real estate.

The state of South Dakota is very well off financially, the state's entitlement programs are all fully funded. Four percent sales tax, no state income tax. Public schools score well above the national average on the basics of reading, writing, and math.

With all that said- I find the cost of housing in South Dakota pricey.... especially with the winter weather. South Dakota bucks the real estate rule of- location-location-location.

https://www.realtor.com/realestateandhomes-detail/27313-Dana-Ct_Hot-Springs_SD_57747_M85589-74240?ex=2947259212

 

[mrsilv04]

So happy that the builder gave the outside of the house, all of the charm of a mental institution...

This is what I'd expect a $629,000 house to look like from the outside....

 

[John105]

Wasn't sure what to expect with SD, but in the Seattle area I came across a house that was slightly smaller (around 500 sq ft and 1 bed/1 bath) than the garage my wife's cousin built himself for $15k, and it was almost $400k.

As far as schools go, I look at the national ranking. Schools in the 200's in the nation are good schools. I've heard people say that St Augustine FL has an excellent HS, and then you look at the national ranking and it's like 1200+. Also people say ranks don't matter, and they don't but there has to be some way of judging....

edit looked up the HS in SD and it's well over 13,000 nationally ranked, so not sure if it was serious about the schools there?

 

[simple_gifts]

Large homes where multiples of 100K are being expended, money for an architect is a good investment

If one was used in this circumstance, I will modify my original comment to indicate "money for an good architect is a good investment"

 

[RooflessVW]

So happy that the builder gave the outside of the house, all of the charm of a mental institution...

This is what I'd expect a $629,000 house to look like from the outside....
View attachment 115670

Ah yes, the classic McMansion.

Which NASCAR driver owns this one?

 

[RooflessVW]

South Dakota might be one of the very strongest real estate markets in the USA, even with potential storms coming in residential real estate.

The state of South Dakota is very well off financially, the state's entitlement programs are all fully funded. Four percent sales tax, no state income tax. Public schools score well above the national average on the basics of reading, writing, and math.

With all that said- I find the cost of housing in South Dakota pricey.... especially with the winter weather. South Dakota bucks the real estate rule of- location-location-location.

https://www.realtor.com/realestateandhomes-detail/27313-Dana-Ct_Hot-Springs_SD_57747_M85589-74240?ex=2947259212

I like the home and IMO the price is not out of line for nearly 5,000sqft and 3 ¾ acre.

That's about what you'd pay here.

 

[RhondaHonda]

The outside of that house is uglier than a mud fence.

 

[brianl703]

Ah yes, the classic McMansion.

Lots of angles on the roof and not a single one of the windows in the front is the same size?

 

[GON]

I like the home and IMO the price is not out of line for nearly 5,000sqft and 3 ¾ acre.

That's about what you'd pay here.

I will be in Fayetteville tomorrow evening (I am sure you are happy for me).

The difference IMHO between NC and SD is location. NC has a high rate of migration into the state from people of the Northeast and Upper Midwest that want to leave the cold, taxes, etc..... but still be within a longs day drive from their prior domicile. NC has a lot more tech growth, institutions of higher education, and of course the ocean.

I would think a home in South Dakota would sell for significantly less per square foot than a home in North Carolina. But my record on real estate return of investment shows very poorly (actually I am a brutally bad underperformer when it comes to real estate).

 

[RooflessVW]

Lots of angles on the roof and not a single one of the windows in the front is the same size?

And awful stonework.

It's always either ugly stone or a terrible color of brick.

 

[GON]

So happy that the builder gave the outside of the house, all of the charm of a mental institution...

This is what I'd expect a $629,000 house to look like from the outside....
View attachment 115670

Here is what $775k will get you in what many consider a nice town with decent schools in suburban Chicago (IL).

I would not be shocked for this home listed for $775k to sell in the sixes or even the fives over the next 24 months:

https://www.realtor.com/realestateandhomes-detail/11-Covington-Ct_Algonquin_IL_60102_M79713-74124?ex=2944650123

 

[RhondaHonda]

So happy that the builder gave the outside of the house, all of the charm of a mental institution...

This is what I'd expect a $629,000 house to look like from the outside....
View attachment 115670

I like this one. The windows on the garage are a little small/low but otherwise looks like a nice house to me.

 

[joekingcorvette]

Houses are very, very expensive in Sioux Falls SD and Spearfish SD as well as Rapid City. Most homes in SD are way more expensive than in lots of other states. A basic home with a 3 car garage and no fireplace and an unfinished basement will run $375,000 over $400,000. This is for a brand new home with sod and a lawn sprinkler system. The taxes are very expensive here too. I have all my friends and relatives here and don't want to move to any other area. Homes could be going down with the economy and lumber prices etc. We all know its all about location, location, location.

 

[PWMDMD]

So happy that the builder gave the outside of the house, all of the charm of a mental institution...

This is what I'd expect a $629,000 house to look like from the outside....
View attachment 115670

That's about $2M around here...lol

 

[PWMDMD]

Here is what $775k will get you in what many consider a nice town with decent schools in suburban Chicago (IL).

I would not be shocked for this home listed for $775k to sell in the sixes or even the fives over the next 24 months:

https://www.realtor.com/realestateandhomes-detail/11-Covington-Ct_Algonquin_IL_60102_M79713-74124?ex=2944650123

View attachment 115671

That's $3-4M around here.

 

[brianl703]

A basic home with a 3 car garage and no fireplace and an unfinished basement will run $375,000 over $400,000.

In Manassas, Virginia, internationally known as being where the John Bobbitt incident happened, that will buy you a `1200sq ft townhouse.

 

[John105]

Here is what $775k will get you in what many consider a nice town with decent schools in suburban Chicago (IL).

I would not be shocked for this home listed for $775k to sell in the sixes or even the fives over the next 24 months:

https://www.realtor.com/realestateandhomes-detail/11-Covington-Ct_Algonquin_IL_60102_M79713-74124?ex=2944650123

View attachment 115671

again checked that public HS and it ranks 2,291, which isn't good by my standard of top 200. I've never thought Chicago to be inexpensive, but physically that home would be a steal where I live for that price. Again, as hard as we fight it, location, location, location.

This is how much location affects the price

https://www.realtor.com/realestateandhomes-detail/882-Willow-Rd_Winnetka_IL_60093_M73500-12682?ex=2946700535

 

[GON]

Houses are very, very expensive in Sioux Falls SD and Spearfish SD as well as Rapid City. Most homes in SD are way more expensive than in lots of other states. A basic home with a 3 car garage and no fireplace and an unfinished basement will run $375,000 over $400,000. This is for a brand new home with sod and a lawn sprinkler system. The taxes are very expensive here too. I have all my friends and relatives here and don't want to move to any other area. Homes could be going down with the economy and lumber prices etc. We all know its all about location, location, location.

Yes, but South Dakota is strongly overperforming in residential real estate in some of its near peer neighbor states to include Iowa, Minnesota, and Nebraska.

Very impressive.

 

[Passport1]

I will be in Fayetteville tomorrow evening

You are correct about the migration to NC. While in Fayetteville stop by the Airborne and Special Operation Museum. It is worth the time.

 

[GON]

again checked that public HS and it ranks 2,291, which isn't good by my standard of top 200. I've never thought Chicago to be inexpensive, but physically that home would be a steal where I live for that price. Again, as hard as we fight it, location, location, location.

This is how much location affects the price

https://www.realtor.com/realestateandhomes-detail/882-Willow-Rd_Winnetka_IL_60093_M73500-12682?ex=2946700535

John,

Please note I listed the public high school as decent (Jacob High School). I suspect many Northeastern Ilinois schools have been underperforming nationally over the past few decades when it comes to STEM, and also English. Which is mind boggling as Northeastern Illinois spends a lot of money per public student. I knew someone that attended Palatine, IL public schools in the 1970s, one of the best school systems in the USA at the time. Today, Palatine schools are a place I would never send a child- ever. Essentially a day camp for many high school students.

Withing 25 miles of Algonquin, I suspect Jacobs may be in the top five of public high schools. One may have to go as far east as Long Grove (Stevenson High School) to find a better public high school.