Hannack finding second career in real estate
SPRING VALLEY--After a 24-year career in the post office that ended in retirement in 2000, Jack Hannack knew his time wasn't up.
"I was 48 at the time and I didn't want to retire, retire," Hannack said.
That's when lifelong friend Bill Richardson, who had his own appraisal business, wondered if Hannack would handle the real estate portion of the company.
"I had friends in the real estate business, so I knew what to expect," he said. "There's no structure in real estate, as you spend most of your time working evenings and weekends, while the post office was a 9-5 job."
Hannack got his real estate license, and he and Richardson ran Redbird Realty Services of Spring Valley for about five years.
That's when Richardson left for other business opportunities, Hannack said. As a result, Redbird got put on the backburner and Hannack, still with a roster full of listings, was without a home.
Gary Kruger, creator, and Bill Schramm, current owner, of Kruger Real Estate answered the call.
"I looked at several different companies, but I liked what I heard from them and they're obviously comfortable with me," Hannack said. "The family atmosphere really appealed to me."
Therefore, since April 2005, Hannack, along with Denis Greatens, have had a Kruger Real Estate office at S140 McKay Ave. (i.e., main street) in Spring Valley.
"I certainly haven't regretted it," he said about the career switch. "I certainly don't regret working for the post office for 24 years. I enjoyed my time there and I miss the people. But, do I wish I was still working there? No."
Like any business, real estate has its ups and downs. However, Hannack hasn't seen it this slow at any other point in his six years in the business. He also listed as vital keys to having a successful career in the business is obviously, working with people, but at the same time, knowing your marketplace is just as vital.
"Real estate has its peaks and valleys," he said. "It always has and always will be. There are a lot of properties on the market and the buyers are very selective. It may never get back to the level of 2001 or 2002, but it'll rebound next spring."
A main factor in Hannack's opinion about the rebound lies in the migration the St. Croix Valley has seen within the last five years.
"I don't think there's any question that things are moving this way," he said. "Spring Valley will continue to grow and I certainly hope it will."
And with Kruger being the only real estate office in town, they like their chances to be a part of the action when it occurs.
"I've lived in the Twin Cities, Eau Claire and Lake City, Minn., and nothing out of those experiences made me want to stay there," Hannack said. "I was born and raised in Spring Valley, left and came back. I enjoy the Spring Valley atmosphere and have a lot of my friends and family here (Hannack has been married to wife Bonnie for 35 years, with three children and four grandchildren.)."
One area of development that Hannack believes will be a gold mine come spring time is the Silver Fox Run development near the Spring Valley Golf Course.
"It's a beautiful development," he said. "All the lots are wooded, which is something you don't see in this area. Everything is there. All you have to do is pick a lot."
Furthermore, to entice people to consider the development, Hannack said the course is offering a free one-year membership for those who do end up buying and developing a lot.
To reach Kruger Real Estate in Spring Valley, contact Hannack or Greatens at 778-5511.