Real Estate Blog - April, 2019

Larson Manufacturing-How Does This Company Stay Strong

To share more about Brookings county and the community, I’d like to share some information about a large company that employs many people in the area, Larson Manufacturing. The company was founded in 1954 by Oscar Larson, initially called Larson Distribution Company, in Albert Lea, Minnesota. 

It’s an interesting story. Oscar was a 62-year-old homeowner trying to put up storm windows on the second story of his house – ah, the joys of owning a home! The experience led him to a one-man operation with the desire to produce a better product. He was now designing his own windows and opened a regional door, window and aluminum awning company that would only continue to grow.   

Exactly 10 years later, LARSON opened a plant in Brookings, South Dakota,…

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Why Are Pet Friendly Homes in High Demand

One of the many benefits of owning your own home is the freedom to find your ‘furever’ friend. By pointing out the aspects of your home that make it ‘pet-friendly’ in your listing, you’ll attract these buyers, rather than alienating the 68% of American households that have a pet!

If you are one of the many homeowners looking to list your home for sale, how do you stand out to the millions of pet parents searching for their dream home?

Whether a dog person, a cat person, or someone who prefers the company of another pet species, 99% of pet owners say that they consider their animal to be family. When finding a home, 95% of animal owners believe it is important that a housing community allows animals.

A study by the National Association…

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Looking to Retire? What do You Need to Consider When Buying Your Home?

As more and more baby boomers enter retirement age, the question of whether they should sell their homes and move has become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.

1. Affordability

“It may be easy enough to purchase your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the…

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The American Dream....Homeownership is the Cornerstone.

“The rumors of my death are greatly exaggerated.”

The famous quote attributed to Mark Twain can apply to homeownership in the United States today. During the housing bubble of the last decade, the homeownership rate soared to over sixty-nine percent. After the crash, that percentage continued to fall for the next ten years.

That led to speculation that homeownership was no longer seen as a major component of the American Dream. That belief became so widespread that the term “renters’ society” began to be used by some to define American consumers.

However, the latest report by the Census Bureau on homeownership shows that over the last two years, the percentage of homeowners has increased in each of the last eight quarters.

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501 E Wye Mesa-Brookings SD -FOR SALE

501 E Wye Mesa, Brookings, SD

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Presented By:

Brookings Home Team

Broker Associate
Century 21 Krogman Co.
605-691-3023
Licensed In: South Dakota
License #: 14427

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$ Click for current price
3 BEDROOMS | 2 Baths (2 full ) BATHROOMS | 1568 SqFt

NEWER MOBILE HOME WAITS FOR YOU. This 2016 mobile home features 3 bedrooms, 2 full bathrooms, a large walk in master closet, and an open Kitchen, Family Room & Dining…

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How Many Steps Does It Take to Buy a Home?

Some Highlights:

• If you are thinking of buying a home, you may not know where to start.

• Here is a simple list of 10 steps that you will go through to purchase a home.

• Make sure to ask your agent for details about each step and what else may be required in your area!

 Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details!

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Should Homebuyers Worry About 2008 Coming Back?

Last week, realtor.com released a survey of active home shoppers (those who plan to purchase their next home in 1 year or less). The survey asked their opinion on an impending recession and its possible impact on the housing market.

Two major takeaways from the survey:

• 42% believe a recession will occur this year or next (another 16% said 2021)

• 59% believe the housing market would fare the same or worse than it did in 2008

Why all the talk about a recession recently?

Over the last year, four separate surveys have been taken asking when we can expect the next recession to occur:

1. The Pulsenomics Survey of Market Analysts

2. The Wall Street Journal Survey of Economists

3. The Duke University…

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Open House 1317 Breckenridge Circle-Brookings

1317 Breckenridge Cir, Brookings, SD

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$ Click for current price
5 BEDROOMS | 3 Baths (2 full, 1 ¾ bath ) BATHROOMS | 2100 SqFt

YOU CAN HAVE IT ALL! If location is important to you, than look no further with this gorgeous, warm & comfortable home. Can you fill up the 5 Bedrooms, 3 Baths and over 2,100 finished sq. ft? New carpet and fresh paint in the lower level. Lots of storage through out and all of this sitting in a cul-de-sac next to schools, parks & shopping. Don''t wait any longer. Call Now For A Personal Tour!

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What Credit Score Do You Need To Buy A House?

There are many misconceptions about the credit score needed to buy a house. Recently, it was reported that 24% of renters believe they need a 780-800 credit score to be considered for a mortgage. The reality is they are misinformed!

Only 25% of the Americans have a FICO® Score between 740 and 800. Here is the breakdown according to Experian:

• 16% Very Poor (300-579)

• 18% Fair (580-669)

• 21% Good (670-739)

• 25% Very Good (740-799)

• 20% Exceptional (800-850)

Randy Hopper, Senior Vice President of Mortgage Lending for Navy Federal Credit Union said,

“Just because you have a low credit score doesn’t mean you can’t purchase a home. There are a lot of options out there for consumers with low…

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How To Gain Wealth with an Investment that YOU Can Live In.

There has been a lot written about the benefits of homeownership. One benefit that continues to rise to the top is the added wealth homeowners gain simply by paying their mortgage while their home increases in value over time.

The National Association of Realtors (NAR) recently broke down the equity gained from price appreciation and principal payments in their Economists Outlook Blog. Homeowners who purchased their homes five years ago have already gained almost $80,000 in equity over that time with 80% of the gains coming from price appreciation.

For a homeowner who purchased their home 30 years ago, they have gained nearly $250,000 in equity with 70% coming from price increases. The full results can be seen in the chart below.

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