Why Now Is the Perfect Time to Sell Your House | MyKCM

As a homeowner, it’s always tempting to dream about the next big project you’re going to tackle. The possibilities are endless. Should I renovate? Should I refinance? Should I stay? Should I move? The list goes on and on.

In today’s housing market, it’s actually a great time to shift your thoughts toward selling your house and moving up into the home of your dreams. Here’s why:

Inventory is on the rise, but there’s still an overall shortage of houses for sale (less than a 6-month supply found in a more normal market), so homes are going under contract quickly. In fact, the National Association of Realtors (NAR) Realtors® Confidence Index Survey reports that right now homes are only staying on the market for an average of 27 days. That’s…

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How to Judge the Impact of the Next Economic Slowdown on Housing | MyKCM

 

We’ve experienced economic growth for almost a decade, which is the longest recovery in the nation’s history. Experts know a recession can’t be too far off, but when will this economic slowdown actually occur?

Pulsenomics just released a special report revealing that nearly 6 out of 10 of the 90 economists, investment strategists, and market analysts surveyed believe the next recession will occur by the end of next year. Here’s the breakdown:

  • 9% believe a recession will occur this year

  • 50% believe it will occur in 2020

  • 35% believe it will occur in 2021

  • 6% believe it will occur after 2021

When asked what would trigger the next recession, the three most common responses by those surveyed were:

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310 19th Ave S, Brookings, SD

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4 BEDROOMS | 5 Baths (1 full, 2 half, 2 ¾ bath ) BATHROOMS | 3896 SqFt

IT REALLY IS THAT GORGEOUS! Do you like a mature neighborhood? Do you like an older home, with a new construction feel? How about a Kitchen with Cherry Cabinets, under-counter lighting & corian counter tops. Do you like over 3000 finished sq. ft. that has 4 bedrooms, 5 bathrooms and room to entertain for days? There are so many more questions that I could ask you, that will check off ALL of your boxes. See for yourself this grand home in a…

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What Experts are Saying About the Current Housing Market | MyKCM

We’re halfway through the year, and with a decline in interest rates as well as home price and wage appreciation, many are wondering what the experts predict for the second half of 2019.

Here’s what some have to say:

Danielle Hale, Chief Economist at realtor.com

“Lower mortgage rates, higher wages and more homes for sale have helped counteract rising home prices, and ultimately, made it so that buyers are able to afford more than last year.”

“Our outlook implies 4% growth for the remaining months of the year, predicated on…more supply than last year, the decline in mortgage rates, moderating home price appreciation and improving affordability.”

Lawrence Yun, Chief Economist at NAR

“Rates of 4% and, in some cases even lower,…

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Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Emmy Lebert from Dakotaland FCU. Today, we talked about the auction process and how that works when you are financing a home that you may purchase on auction.  You can reach Emmy at 605.697.5922 or emmyl@dakotalandfcu.com  Her office is located at 2423 6th St., Brookings SD 57006 or on the web at www.DakotalandFCU.com

 

Auction Properties

- All right, good morning everybody, Shane here the Brookings Home Team, powered by Century 21. Taking a week off last week, we're back at it today. 8:15, it's Monday…

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Mid-Year Housing Market Update: Three Things to Know Today | MyKCM

Shifting trends and industry-leading research are pointing toward some valuable projections about the status of the housing market for the rest of the year.

If you’re thinking of buying or selling, or if you just want to know what experts are saying is on the horizon, here are the top three things to put on your radar as we head into the coming months:

  1. Home prices are appreciating at a more normal rate: Home prices have been appreciating for about ten years now. Experts at the Home Price Expectation Survey, Mortgage Bankers Association, Freddie Mac, and Fannie Mae are forecasting continued growth throughout the next year, although it should be leveling-off to normal appreciation (3.6%), as we move into 2020.

  2. Interest rates…

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3 Powerful Reasons to Buy a Home Now | MyKCM

Whether you are a first-time buyer or looking to move up to the home of your dreams, now is a great time to purchase a home. Here are three major reasons to buy today.

1. Affordability

Many people focus solely on price when talking about home affordability. Since home prices have appreciated throughout the past year, they assume homes are less affordable. However, affordability is determined by three components:

  • Price

  • Wages

  • Mortgage Interest Rate

Prices are up, but so are wages - and interest rates have recently dropped dramatically (see #2 below). As a result, the National Association of Realtors’ (NAR) latest Affordability Index report revealed that homes are MORE affordable throughout the country…

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1632 Main Ave S, Brookings, SD

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4 BEDROOMS | 3 Baths (1 full, 2 ¾ bath ) BATHROOMS | 2329 SqFt

LOOK AT THIS SPACE! Well maintained Ranch home with over 2300 finished sq. ft. You have room to entertain with 2 large family rooms, living room and a kitchen that anyone would love. There is still enough great days to enjoy the 3 Season room, just off the family room, bug FREE! Then in the winter days, enjoy the gas fireplace in that same family room. Potential to add a 5th bedroom in the lower level . Park the toys in the oversized 2 stall garage or…

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907 6th St, Brookings, SD

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5 BEDROOMS | 3 Baths (1 full, 2 ¾ bath ) BATHROOMS | 2671 SqFt

FIT FOR A KING! You have driven by it many times. It has been a majestic site for many, many years. And now it is your chance to have a little piece of history. Starting with the Carriage house, or detached garage now. Then the added attached double stall garage. As you tour this grand home, notice the hardwood floors through out. Kick up your feet in the Living Room, or Family room on the Main Level. Entertain in the formal dining room next to the beautiful…

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Home Price Appreciation Forecast | MyKCM

Questions continue to come up about where home prices will head throughout the rest of this year, as well as where they may be going over the few years beyond.

We’ve gathered current data from the industry’s most reliable sources to help answer these questions:

The Home Price Expectation Survey – A survey of over 100 market analysts, real estate experts, and economists conducted by Pulsenomics each quarter.

Mortgage Bankers Association (MBA) – As the leading advocate for the real estate finance industry, the MBA enables members to successfully deliver fair, sustainable, and responsible real estate financing within ever-changing business environments.

Zelman & Associates – The firm leverages unparalleled housing market expertise,…

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