The #1 Reason to List Your House Right Now

The success of the U.S. residential real estate market, like any other market, is determined by supply and demand. This means we need to look at how many potential purchasers are in the market versus the number of houses that are available to buy. With early 2020 housing data now rolling in, it’s quite evident there are two big stories impacting this year’s residential real estate market:

1. Buyer demand is already extremely strong
2. Housing supply is at a historically low level

Demand

ShowingTime is a firm that compiles data from property showings scheduled across the country. The latest ShowingTime Showing Index reveals how showings have increased in each of the country’s four regions for five months in a row.

Supply

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How Pricing Your Home Right Makes a Big Difference

Even though there’s a big buyer demand for homes in today’s low inventory market, it doesn’t mean you should price your home as high as the sky when you’re ready to sell. Here’s why making sure you price it right is key to driving the best price for the sale.

If you’ve ever watched the show “The Price Is Right,” you know the only way to win the game is to be the one to correctly guess the price of the item up for bid without going over. That means your guess must be just slightly under the retail price.

When it comes to pricing your home, setting it at or slightly below market value will increase the visibility of your listing and drive more buyers your way. This strategy actually increases the number of buyers who will see your home in…

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Homeownership Rate on the Rise to a 6-Year High

Regardless of the lack of inventory on the market, the U.S. homeownership rate has climbed to a 6-year high. The United States Census Bureau reported that it increased to 65.1% in the fourth quarter of 2019, representing the highest level in the past six years. See the graph below:

This increase does not come as a surprise. According to realtor.com,

“The largest cohort of the millennial generation turns 30-years-old in 2020 and they are hitting the housing market in full force. At the end of the fourth quarter of 2019, millennials made up the largest generational segment of homebuyers, growing their share of home purchase mortgages to 48 percent.”

With so many Millennials entering a homebuying phase of life and getting into…

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#116 Monday Morning Mortgage Tip: Danielle Engels with Dakotaland FCU

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 Danielle Engels from Dakotaland FCU. Listen as she explains the MCC Tax Credit. Shane also spoke with Brent Adney last September about the MCC Tax Credit. You can listen to that podcast here https://anchor.fm/shane-andersen/episodes/Mortgage-Credit-Certificates---A-Talk-With-Brent-Adney-e5ecl2

 You can reach Danielle at 605.697.5922 or daniellee@dakotalandfcu.com  Her office is located at 2423 6th St., Brookings SD 57006 or on the web at www.DakotalandFCU.com

 MCC Tax Credit

- All right good…

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Great News for Renters Who Want to Buy a Home

Rents in the United States have been skyrocketing since 2012. This has caused many renters to face a tremendous burden when juggling their housing expenses and the desire to save for a down payment at the same time. The recent stabilization of rental prices provides a great opportunity for renters to save more of their current income to put toward the purchase of a home.

Just last week the Joint Center of Housing Studies of Harvard University released the America's Rental Housing 2020 Report. The results explain the financial challenges renters are experiencing today,

“Despite slowing demand and the continued strength of new construction, rental markets in the U.S. remain extremely tight. Vacancy rates are at decades-long lows, pushing…

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Does "Aging in Place" Make the Most Sense?

A desire among many seniors is to “age in place.” According to the Senior Resource Guide, the term means,

“…that you will be remaining in your own home for the later years of your life; not moving into a smaller home, assisted living, or a retirement community etcetera.”

There is no doubt about it – there’s a comfort in staying in a home you’ve lived in for many years instead of moving to a totally new or unfamiliar environment. There is, however, new information that suggests this might not be the best option for everyone. The familiarity of your current home is the pro of aging in place, but the potential financial drawbacks to remodeling or renovating might actually be more costly than the long-term benefits.

A recent report…

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How to Avoid a Gender Gap When Investing in the Housing Market

When buying a home, we all want to feel like we’re making the right decision, paying a fair price, and making the best investment of our lives. According to a recent gender-based study, men and women can unknowingly walk away with very different financial outcomes when the deal closes. Thankfully, if you follow some simple ways to arm yourself with the information you need to prepare in advance, you’re more likely to feel like you’ve won when the keys to your new house are in your pocket.

Kelly Shue and Paul Goldsmith-Pinkham of the Yale School of Management showed in their recent study The Gender Gap in Housing Returns, when single women invest in the housing market, they’re generally losing out compared to their male counterparts. The…

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Three Reasons Why Pre-Approval Is the First Step in the 2020 Homebuying Journey

When the number of buyers in the housing market outnumbers the number of homes for sale, it’s called a “seller’s market.” The advantage tips toward the seller as low inventory heats up the competition among those searching for a place to call their own. This can create multiple offer scenarios and bidding wars, making it tough for buyers to land their dream homes – unless they stand out from the crowd. Here are three reasons why pre-approval should be your first step in the homebuying process.

1. Gain a Competitive Advantage

Low inventory, like we have today, means homebuyers need every advantage they can get to make a strong impression and close the deal. One of the best ways to get one step ahead of other buyers is to get pre-approved…

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New Listing In Elkton SD

408 Kelsey St, Elkton, SD

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$ Click for current price
3 BEDROOMS | 2 Baths (1 full, 1 half ) BATHROOMS | 2064 SqFt

ROOM FOR EVERYONE! As you pull up to this 2 Story home, you will first notice the large corner lot, and outlined with a fenced in back yard. The 24x28, 2 Stall garage is big enough for 2 cars and storage. As you walk in the home, the large picture window in the living room lets lots of natural light in. The Dining Room and Kitchen are open so you can entertain in the dining room, or have breakfast on the breakfast bar. The lower level is partially finsihed and waiting for your finishing touches.…

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Open House in Brookings-Saturday, February 15th.

808 Christine Ave #104, Brookings, SD

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$ Click for current price
2 BEDROOMS | 2 Baths (1 full, 1 ¾ bath ) BATHROOMS | 1350 SqFt

Enjoy carefree living in this GROUND LEVEL condo which features 2 bedrooms plus an office/den. Open floor plan, some new appliances and faucets, fresh paint throughout and NEW beautiful flooring in all the rooms except the bathroom. It includes 2 garage spaces and a large storage area with a work bench and shelving. The community room is for you and your guests to enjoy. The HOA fees include water, sewer, garbage, lawn care, snow removal, and…

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