Real Estate Blog - June, 2020

National Homeownership Month

Some Highlights

• National Homeownership Month is a great time to reflect on how we can each promote stronger community growth.

• Homeownership helps families build financial freedom, find greater happiness and satisfaction, and make a positive impact on our local communities.

• Let’s connect today if homeownership is part of your future plans.

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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Home Prices: It's All About Supply and Demand

As we enter the summer months and work through the challenges associated with the current health crisis, many are wondering what impact the economic slowdown will have on home prices. Looking at the big picture, supply and demand will give us the clearest idea of what’s to come.

Making our way through the month of June and entering the second half of the year, we face an undersupply of homes on the market. Keep in mind, this undersupply is going to vary by location and by price point. According to the National Association of Realtors (NAR), across the country, we currently have a 4.1 months supply of homes on the market. Historically, 6 months of supply is considered a balanced market. Anything over 6 months is a buyer’s market, meaning…

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The Benefits of Homeownership May Reach Further Than You Think

More than ever, our homes have become an integral part of our lives. Today they are much more than the houses we live in. They’re evolving into our workplaces, schools for our children, and safe havens that provide shelter, stability, and protection for our families through the evolving health crisis. Today, 65.3% of Americans are able to call their homes their own, a rate that has risen to its highest point in 8 years.

June is National Homeownership Month, and it’s a great time to reflect on the benefits of owning your own home. Below are some highlights and quotes recently shared by the National Association of Realtors (NAR). From non-financial to financial, and even including how owning a home benefits your local economy, these items may…

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Open House-1329 3rd St-Brookings

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6 BEDROOMS | 3 Baths (3 full ) BATHROOMS | 1632 SqFt

Check out this 1 1/2 story home that sits on a 100' x 175' lot in the Hillcrest area. It features 6 bedrooms and 3 full bathrooms. The Sellers have replaced most of the windows, updated the electrical, installed drain tile and refinished the hard wood floors. Make sure to see the list of improvements. This property is a registered duplex.Call today to set up an appointment to see this property!

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Top Reasons to Own Your Home

Some Highlights

• June is National Homeownership Month, and it’s a great time to consider the benefits of owning your own home.

• If you’re in a position to buy, homeownership might help you find the stability, community, and comfort you’ve been searching for this year.

• Let’s connect today to determine if homeownership is the right next step for you and your family.

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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Economists Forecast Recovery to Begin in the Second Half of 2020

With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin.

According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):

There seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in this country.

Chris Hyzy, Chief…

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Why This Summer is the 2020 Real Estate Season

With stay-at-home orders starting to gradually lift throughout parts of the country, data indicates homebuyers are jumping back into the market. After many families put their plans on hold due to the COVID-19 pandemic, what we once called the busy spring real estate season is shifting into the summer. In 2020, summer is the new spring for real estate.

Joel Kan, Economist at The Mortgage Bankers Association (MBA) notes:

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks…Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two…

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Buying or Selling a Home? You Need an Expert Kind of Guide

In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer.

We are, however, in anything but a normal market right now. We are amid one of the greatest health crises our nation has ever seen. The pandemic has had a dramatic impact on the journey consumers take to purchase or sell a home. To successfully navigate the landscape today, you need more than an experienced guide. You need a ‘Real Estate Sherpa.’

…

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Open House at 3707 Main Ave S.-Brookings

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3 BEDROOMS | 3 Baths (1 full, 1 half, 1 ¾ bath ) BATHROOMS | 2064 SqFt

BEST OF ALL WORLDS!! Like the acreage setting, want to be close to town and you want horses? You can have all of that with this 4 acres property just a couple miles south of Brookings. The split level home is surrounded by many trees for tranquility from the road. Store all your toys and acreage necessities in the 60x36 machine shop. Then slip out to the horse pen to enjoy some summer nights riding around the large, fenced holding area. You get your dream property and…

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#129 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 talked with Danielle Engels from Dakotaland FCU--listen as she advises on whether refinancing is the right choice for you.

 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

- What's up everybody? Shane here from the Brookings Home Team powered by Century 21, and it is a Monday morning again. We are here with Dani from Dakotaland doing our Monday morning mortgage tip, via Zoom yet. So, of course…

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