Real Estate Blog - November, 2024

What’s Motivating Homeowners To Move Right Now

What’s Motivating Homeowners To Move Right Now

Over the past few years, some homeowners have decided to delay their move because they don’t want to sell and take on a higher mortgage rate on their next home. Maybe you’re thinking the same thing. And honestly, that’s no surprise. It’s a very common roadblock and is one of the biggest factors that’s kept the number of homes on the market so low for so long.

But a growing number of homeowners are deciding they just can’t wait any longer. Often, it’s because of personal or lifestyle change. As Redfin explains:

If you’re…

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Renting vs. Buying: The Net Worth Gap You Need To See

Trying to decide between renting or buying a home? One key factor that could help you choose is just how much homeownership can grow your net worth.

Every three years, the Federal Reserve Board shares a report called the Survey of Consumer Finances (SCF). It shows how much wealth homeowners and renters have – and the difference is significant.

On average, a homeowner’s net worth is nearly 40 times higher than a renter’s. Check out the graph below to see the difference for yourself:

Why Homeowner Wealth Is So High

In the previous version of that report, the average homeowner’s net worth was about $255,000, while the average renter’s was just $6,300. That’s still a big gap. But in the most recent update, the spread got even bigger as…

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Expect the Unexpected: Anticipating Volatility in Today’s Housing Market

You’ve probably noticed one thing if you’re thinking about making a move: the housing market feels a bit unpredictable right now. The truth is, from home prices to mortgage rates, we’re seeing more volatility – and it’s important to understand why.

At a high-level, let’s break down what’s happening and the best way to navigate it.

What’s Driving Today’s Market Volatility?

Factors like economic data, unemployment numbers, decisions coming out of the Federal Reserve (The Fed), and even the presidential election, are creating uncertainty right now – and uncertainty leads to market volatility.

You can see that when you look at what’s happening with mortgage rates. New economic reports and other geopolitical events have an impact and…

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Is a Fixer Upper Right for You?

Looking to buy a home but feeling like almost everything is out of reach? Here’s the thing. There’s still a way to become a homeowner, even when affordability seems like a huge roadblock – and it might be with a fixer upper. Let’s dive into why buying a fixer upper could be your ticket to homeownership and how you can make it work.

What Is a Fixer Upper?

A fixer upper is a home that’s in livable condition but needs some work. The amount of work varies by home – some may need cosmetic updates like wallpaper removal and new flooring, while others might require more extensive repairs like replacing a roof or updating plumbing.

Because they need some elbow grease, these homes typically have a lower price point, based on local market…

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211 Lovejoy Ln-Open House

211 Lovejoy Ln, Aurora, SD

Open House

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Love & Joy all in one. Boasting over 1,900 finished sq. ft., this 4 bed, 2 Bath home is thoughtfully designed with features that are sure to impress. Step inside to find not one, but two cozy gas fireplaces, one in the inviting living room and another in the tranquil primary bedroom, creating the perfect ambiance for relaxation and warmth. Outdoor living is just as impressive, with two newer composite decks—ideal for hosting gatherings, enjoying morning coffee, or simply soaking up the peaceful…

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210 E 2nd St-New Listing

210 E 2nd St, Volga, SD

Just Listed

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Discover the charm of this fully remodeled 1.5-story home, offering 2 bedrooms and 1 bathroom. The kitchen boasts stunning Hickory cabinets and a butcher block island, blending style and practicality. Laundry hookups are conveniently located in the back entryway. A single-car garage with alley access adds convenience. This home has undergone extensive updates, ensuring a fresh and move-in-ready feel. With its thoughtful design and modern touches, this property is a must-see. So many updates, we had…

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Thinking About Selling Your Home in 2025? Here’s How to Prepare for Succe

If you’re considering selling your home in Brookings, South Dakota, or the surrounding area in 2025, you’ve probably wondered: What can I do to make my house stand out to buyers? The truth is, strategic upgrades and thoughtful preparation can make a huge difference when it comes to impressing potential buyers and securing the best offer. But before you start picking up a hammer or planning major renovations, let’s talk about what really works—and what’s not worth your time or money.

At the Brookings Home Team, we specialize in helping sellers make smart decisions to maximize their home’s appeal and value. Here’s a comprehensive guide to getting your home ready for a successful sale in 2025, packed with tips that’ll make your property shine.

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Overcoming Fear: How the Right Real Estate Agent Can Make Your Move Easier in Brookings, SD

Feeling a little nervous about moving? You’re not alone. With so much uncertainty in the world today, it’s natural to feel hesitant about buying or selling a home. But here’s the good news: moving doesn’t have to be scary. In fact, with the right guidance, it can be an exciting and empowering journey.

At the heart of a smooth real estate experience is partnering with a trusted professional. Real estate agents are far more than just transaction facilitators—they’re your guides, advocates, and problem-solvers. A skilled agent will take the stress out of the process, so you can focus on finding your dream home or securing the best sale.

Let’s explore why working with an experienced agent, like Shane Andersen of the Brookings Home Team, is the…

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Avoid These Common Home-Buying Mistakes in Brookings, South Dakota

No one wants to stumble during one of the biggest investments of their life—buying a home. Yet, in today’s market, some common mistakes trip up even the most prepared buyers. The good news? With the right guidance, you can sidestep these pitfalls and make your home-buying journey smooth and rewarding.

Here’s a closer look at the missteps many buyers are making right now and how a trusted real estate professional, like Shane Andersen of the Brookings Home Team, can help you avoid them.

1. Trying to Time the Market

Many homebuyers play the waiting game, holding off for lower home prices or mortgage rates. While this might seem like a smart strategy, it’s risky and often backfires. Predicting market trends is notoriously challenging because…

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