Homes for Sale are Rapidly Disappearing

Through all the challenges of 2020, the real estate market has done very well, and purchasers are continuing to take advantage of historically low mortgage rates. Realtor Magazine just explained:

“While winter may be typically a slow season in real estate, economists predict it isn’t likely to happen this year…Low inventories combined with high demand due to record-low mortgage rates is sending buyers to the market in a flurry.”

However, one challenge for the housing industry heading into this winter is the dwindling number of homes available for sale. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), recently said:

"There is no shortage of hopeful, potential buyers, but inventory is historically low.”

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For Sale In Iroquois SD

421 S Quapaw St, Iroquois, SD

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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
4 BEDROOMS | 1 full, 1 half, 1 ¾ baths BATHROOMS | 2631 SqFt

A perfect place to call home with this 4 bedroom ranch style home. It features main level laundry, 3 bedrooms on the main level with a master bath and…

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Happy Thanksgiving from the Brookings Home Team

Happy Thanksgiving!

We want to Wish you a Safe and Wonder Holiday! Gobble Gobble Gobble!

Thank You, for Supporting us at the Brookings Home Team!

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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Lake Preston Home For Sale

606 3rd St NE, Lake Preston, 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

• Schedule a Showing/Request Info

$ Click for current price
4 BEDROOMS | 2 full baths BATHROOMS | 2128 SqFt

Looking for the convenience of the city, but want 4.5 acres to enjoy? This property is for YOU! It features 4 bedrooms, 2 bathrooms, office/den and main level laundry…

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Should I Renovate My House Before I Sell It?

Some Highlights

• In today’s hyper-competitive market, buyers are often willing to overlook cosmetic or minor repair needs if it means snagging a home in their price range.
• With so few houses available for sale today, you may be able to skip the bigger renovations before you sell and cash in on the current demand for your house.
• If you’re ready to move, let’s connect to determine your best next steps in this sellers’ market.

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204 Peterson Ave-Aurora

204 Peterson Ave, Aurora, SD

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5 BEDROOMS | 1 full, 1 ¾ baths BATHROOMS | 2316 SqFt

Just like new. This 5 bedroom, 2 bath home has had major improvements in the last few years. Check out this split foyer home with laundry on the foyer level and a door to the spacious backyard. Large double (24 x 26) garage with access door to the backyard. Beautiful hardwood floors in the living room, kitchen and dining area along with 6 panel doors on the ML add a nice touch to this home. The lower level has been completely remodeled and a 5th bedroom added. Check out the list of…

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Buyer Interest Is Growing among Younger Generations

The demand for homes this year is extraordinary as record-breaking numbers of hopeful buyers continue to shop for homes. In a normal year, the peak homebuying season comes to a close by early fall. However, 2020 is anything but a normal year, and the housing market is no exception. Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), explains:

“Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season…I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home.”

What’s drawing so many buyers to the…

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How Down Payment Assistance Opens the Door to Homeownership

Many people are eager to buy a home right now while affordability continues to be a highlight of the current housing market. However, a recent survey by Sparks Research shows that 20% of first-time homebuyers cite a lack of financial education as a barrier to homeownership. This is definitely understandable. If you don’t feel comfortable with the financial process of buying a home, it’s hard to make a confident decision. In fact, four in five homebuyers say they need help to understand what they can even afford in the first place. This is why finding the right professionals to help you through the process is so important.

On top of that, the same survey reports over two-thirds of prospective homebuyers believe they’ll need assistance to…

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Two Important Impacts of Home Equity

Equity continues to rise, helping American homeowners secure a much more stable financial future. According to the most recent data from CoreLogic, the average homeowner gained $9,800 in equity over the past year. In addition, experts project 2020 home prices to continue rising. With prices going up, equity gains will also keep accelerating. Black Knight just reported:

“The annual percent change in the overall median existing single-family-home price has skyrocketed in the past several months, with recent numbers at three to five times higher than rates seen in the past several years.”

Jeff Tucker, Senior Economist at Zillow, just qualified recent price increases as “jaw-dropping” and “within a hair's breadth of double-digit…

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Winter Will Bring a Flurry of Activity to the Housing Market

In the second half of this year, the housing market surged with activity. Today, real estate experts are looking ahead to the winter season and the forecast is anything but chilly. As Lawrence Yun, Chief Economist for the National Association of Realtors (NAR), notes:

“It will be one of the best winter sales years ever.”

The typical winter slowdown in the housing market is simply not on the radar. Here’s why.

While today’s historically low mortgage rates are expected to remain low, they won’t be this low for much longer. This could be the last chance for homebuyers to secure such low rates, and they’re ready to take action. In a recent article, Bankrate explained:

“If you’re looking to buy a home…expect mortgage rates to…

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