Real Estate Blog - May, 2023

The Key Advantage of Investing in a Home

The Key Advantage of Investing in a Home

Some Highlights

• Buying a home is a major way to build wealth and gain financial stability.
• That’s why, across different income levels, the largest part of most homeowners’ net worth is their equity.
• Let’s connect today so you can start investing in homeownership.

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!

298 Views, 0 Comments

Trying To Buy a Home? Hang in There.

Trying To Buy a Home? Hang in There.

We’re still in a sellers’ market. And if you’re looking to buy a home, that means you’re likely facing some unique challenges, like difficulty finding a home and volatile mortgage rates. But keep in mind, there are some benefits to being a buyer in today’s market that give you good reason to stick with your search. Here are a few of them.

Long-Term Benefits Outweigh Short-Term Challenges

Owning a home grows your net worth – and since building that wealth takes time, it makes sense to start as soon as you can. If you wait to buy and keep renting, you’ll miss out on those monthly housing payments going toward your home equity. Freddie Mac puts it this way:

318 Views, 0 Comments

Why Aren’t Home Prices Crashing?

Why Aren’t Home Prices Crashing?

There have been a lot of shifts in the housing market recently. Mortgage rates rose dramatically last year, impacting many people’s ability to buy a home. And after several years of rapid price appreciation, home prices finally peaked last summer. These changes led to a rise in headlines saying prices would end up crashing.

Even though we’re no longer seeing the buyer frenzy that drove home values up during the pandemic, prices have been relatively flat at the national level. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), doesn’t expect that to change:

You might…

257 Views, 0 Comments

Two Reasons You Should Sell Your House

Wondering if you should sell your house this year? As you make your decision, think about what’s motivating you to consider moving. A recent survey from realtor.com asked why homeowners are thinking about selling their houses this year. Here are the top two reasons (see graphic below):

Let’s break those reasons down and explore how they might resonate with you.

1. I Want To Take Advantage of the Current Market and Make a Profit

When you decide to sell your house, how much you’ll make from the sale will likely be top of mind. So, here’s some good news: according to the latest data, the average seller can expect a strong return on their investment when they make a move. ATTOM explains: 

288 Views, 0 Comments

How Changing Mortgage Rates Can Affect You

The 30-year fixed mortgage rate has been bouncing between 6% and 7% this year. If you’ve been on the fence about whether to buy a home or not, it’s helpful to know exactly how a 1%, or even a 0.5%, mortgage rate shift affects your purchasing power.

The chart below helps show the general relationship between mortgage rates and a typical monthly mortgage payment:

Even a 0.5% change can have a big impact on your monthly payment. And since rates have been moving between 6% and 7% for a while now, you can see how it impacts your purchasing power as rates go down.

What This Means for You

You may be tempted to put your homebuying plans on hold in hopes that rates will fall. But that can be risky. No one knows for sure where rates will go…

315 Views, 0 Comments

Facts About Closing Costs

Facts About Closing Costs 

Some Highlights

• If you’re thinking about buying a home, be sure to plan for closing costs.
• Closing costs are typically 2% to 5% of the total purchase price of a home, and they can include things like government recording costs, appraisal fees, and more.
• Let’s connect so I can answer your questions about the homebuying process.

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!

386 Views, 0 Comments

182 Northbay Dr-Lake Albert-Open House

182 Northbay Dr, Arlington, SD

• Property Video
• Drone View
• Description
• Photos
• Real Estate Reports for Home Owners, Sellers & Buyers!
• Maps & Local
• More

$ Click for current price
4 BEDROOMS | 3 Full Baths BATHROOMS | 2834 SqFt

GORGEOUS LAKE SIDE HOME ON LAKE ALBERT. 100' feet of lake frontage and Lake Views Galore is all yours. Ranch with Walk Out home has room to entertain,inlcuding a Lower Level Kitchenette and patio access. Open Kitchen and Living area concept with Main Level Laundry that leads into the 3 stall oversized garage-room for 4 average cars. Or make a portion of it your play/shop area. Below the garage is another tuck…

378 Views, 0 Comments

2201 16th Ave S-Brookings-OPEN HOUSE

2201 16th Ave S, Brookings, SD

• Property Video
• Virtual Walking Tour
• Description
• Photos
• Real Estate Reports for Home Owners, Sellers & Buyers!
• Maps & Local
• More

$ Click for current price
5 BEDROOMS | 3 Full Baths BATHROOMS | 3164 SqFt

This 5 bedroom, 3 bath home is just what you've been looking for! 3 bedrooms are on the main level along with the laundry room. The kitchen, dining and living room has a open concept and sliding door off the dining area to a 12 x 14 deck and large circular stamped patio with a gas firepit. The extra large family room with a gas fireplace and daylight windows is sure to catch your attention. Check out the…

385 Views, 0 Comments

We’re in a Sellers’ Market. What Does That Mean?

Even though activity in the housing market has slowed from the frenzy we saw over a year ago, today’s low supply of homes for sale is still a sellers’ market. But what does that really mean? And why are conditions today so good if you want to list your house?

It starts with the number of homes available for sale. The latest Existing Home Sales Reportfrom the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers (see graph below):

What Does This Mean for You?

When the supply of homes for sale is…

327 Views, 0 Comments

501 E Wye Mesa-Just Listed

501 E Wye Mesa, Brookings, SD

• Property Video
• Virtual Walking Tour
• Description
• Photos
• Real Estate Reports for Home Owners, Sellers & Buyers!
• Maps & Local
• More

• Follow This Home
• Brookings Homes For Sale
• Brookings Homes Under $300k
• Search All Homes For Sale
• Free Home Values
• Mortgage & Refinance

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
3 BEDROOMS | 2 Full Baths BATHROOMS | 1404 SqFt

''Wye'' not make your move to this well-maintained home in…

349 Views, 0 Comments