Expert Insights on the 2022 Housing Market

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022.

Odeta Kushi, Deputy Chief Economist, First American:

“Consensus forecasts put rates at about 3.7% by the end of next year. So, that's still historically low, but certainly higher than they are today.”

Danielle Hale, Chief Economist, realtor.com:

“Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than…

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5 Tips for Making Your Best Offer on a Home

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition.

1. Know Your Budget

Knowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:

“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”

Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect home.

2. Be…

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When a House Becomes a Home

It’s clear that owning a home makes financial sense. But lately, the emotional side of what drives homeownership is becoming increasingly important.

No matter the living space, the feeling of a home means different things to different people. Whether it’s a familiar scent or a favorite chair, the feel-good connections to our own homes can be more important to us than the financial ones. Here are some of the reasons why.

1. Owning your home is an accomplishment worth celebrating

You’ve put in a lot of work to achieve the dream of homeownership, and whether it’s your first home or your fifth, congratulations are in order for this milestone. You’ve earned it.

2. There’s no place like home

Owning your own home offers not only safety…

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The Perks of Putting 20% Down on a Home

If you’re thinking of buying a home, you’re probably wondering what you need to save for your down payment. Is it 20% of the purchase price, or could you put down less? While there are lower down payment programs available that allow qualified buyers to put down as little as 3.5%, it’s important to understand the many perks that come with a 20% down payment.

Here are four reasons why putting 20% down may be a great option if it works within your budget.

1. Your Interest Rate May Be Lower

A 20% down payment vs. a 3-5% down payment shows your lender you’re more financially stable and not a large credit risk. The more confident your lender is in your credit score and your ability to pay your loan, the lower the mortgage interest rate…

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Open House-1330 5th St-Brookings

OPEN HOUSE, January 15, Saturday 10:00 AM - 10:30 AM 1330 5th St, Brookings, SD Get Directions Click Here Description Features Photos Maps & Local Schools Virtual Tour Walk Score $ Click for current price 3 BEDROOMS 4 BATHROOMS (2 full, 2 ¾ bath) 3499 Square Feet This MOVE in READY home has an abundance of quality features. The current sellers have completely remodeled this home that is close to the Aquatic Center, Hillcrest park and school. The large gourmet kitchen features granite, double convention wall ovens, pull-out spice racks on the sides…

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2022 BROOKINGS BURGER CLASH CONTEST

2022 BROOKINGS BURGER CLASH CONTEST

Shane Andersen, your trusted Brookings Realtor and team lead at Brookings Home Team, has a special spot in his heart for Brookings area restaurants and how they operate. He started in the service industry at the age of 14 and worked in the restaurant profession for nearly 15 years. The 2022 Brookings Burger Clash was created to help our local establishments during a traditionally slow time of year, not to mention the challenges and struggles they’ve dealt with in relation to COVID-19. Continue reading for contest details or if you already know which burger you're voting for simply click the button below.

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The Average Homeowner Gained $56,700 in Equity over the Past Year

The Average Homeowner Gained $56,700 in Equity over the Past Year

When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters.

For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb, your equity does too. That’s exactly what’s happening today. There aren’t enough homes on the market to meet buyer demand, so bidding wars and multiple offers are driving prices up. That’s because people are willing to…

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