Real Estate Blog - November, 2024

Thinking About Selling? Here’s Why Now is a Great Time for Home Sellers in Brookings, South Dakota

With more homes on the market compared to last year, it might look like buyers have plenty of choices. But here’s the catch: there are still more buyers out there than houses to go around. If you’ve been thinking about selling your home, you’re in a prime position to make the most of this high-demand market. Let’s dive into why this shortage of homes is happening and how it can work in your favor.

What’s Behind the Housing Shortage?

Understanding why housing inventory remains tight can shed light on why today’s market conditions are so favorable for sellers. Here are the primary factors contributing to the current shortage:

1. Underproduction of Homes

The U.S. housing industry has been playing catch-up for years, producing fewer homes…

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625 Elm Ave Unit C-Brookings SD Open House

625 Elm Ave, Brookings, SD

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Take a look at this one-level townhome in the heart of Brookings, SD! Featuring 2 bedrooms, 2 bathrooms, mud room, and a 32x12 attached garage, this home offers comfort and convenience at every turn. It's perfectly located near Brookings schools, the local dog park, shopping, and dining areas, making daily errands and outings a breeze. Inside, you'll find a thoughtfully designed layout that makes the most of the space. This townhome offers a well-designed layout, ensuring a smooth flow between all living spaces.…

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625 Elm Ave Unit C-Brookings SD Lifestyle Video

Take a look at this one-level townhome in the heart of Brookings, SD! Featuring 2 bedrooms, 2 bathrooms, mud room, and a 32x12 attached garage, this home offers comfort and convenience at every turn. It's perfectly located near Brookings schools, the local dog park, shopping, and dining areas, making daily errands and outings a breeze. Inside, you'll find a thoughtfully designed layout that makes the most of the space. This townhome offers a well-designed layout, ensuring a smooth flow between all living spaces. The attached garage provides ample room for parking and extra storage, ideal for your vehicle and outdoor gear. Whether you're enjoying the nearby trails, parks, or local amenities, this townhome places you in the center of everything…

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Rising Costs and the Housing Market: Why We’re Not Heading for a Foreclosure Crisis

With costs going up on nearly everything, it’s easy to wonder how the current economic pressures could impact the housing market. Homeowners and potential buyers alike are asking: Could high prices and budget tightening lead to a surge in foreclosures?

Before jumping to conclusions, let’s dive into the real numbers. The good news is that recent data shows the housing market is nowhere near the brink of a foreclosure wave. Here’s a breakdown of what’s happening and why today’s market is different from the 2008 crash.

How Today’s Housing Market Stands Apart from 2008

To understand why a foreclosure wave is unlikely, we need to take a quick look at what happened during the 2008 housing crash and how things are different now. According to data…

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Veterans Day-Thank You to all that Served

Homeownership is still the American Dream. One way we can honor and thank our veterans this year is to ensure they have the best information about the benefits of VA Loans and the homebuying process. If you have questions about where to start on your journey to homeownership, DM me today.

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Selling Your Home in Brookings? Here’s What to Expect in Today’s Market

If you’re gearing up to sell your house, one of the biggest questions on your mind is probably, “How long is this going to take?” It’s a natural question—you want to plan your move and ensure everything lines up smoothly.

While every market is unique, taking a look at the national trends can offer some insight into what you might expect. But to really understand your local Brookings market and how it compares to national conditions, your best bet is to connect with a local real estate expert.

Here’s a breakdown of what to expect as you get ready to sell, and how a great agent can help you make the most of the market.

More Homes on the Market Mean Buyers Have More Choices

According to recent data from Realtor.com, the number of homes for…

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Prepping to Sell Your Brookings Home in 2025? Start Now for the Best Results

If you’re planning to sell your home in 2025, now is the perfect time to start preparing. While it might feel like you’ve got plenty of time, a little advance planning can make a huge difference in your sale’s success. As Danielle Hale, Chief Economist at Realtor.com, puts it:

“…now is the time to start thinking about what you need for your next home and then taking those steps to prepare to list…47 percent of sellers are taking longer than a month to get their home ready to sell, so starting early can mean more flexibility.”

Prepping early will allow you to take care of updates and repairs at a steady pace, so when you’re ready to list, your home is truly market-ready. Partnering with a skilled real estate agent from the start can help…

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2025 Housing Market Outlook for Brookings, SD: What to Expect

Are you curious about where the housing market is headed in 2025? The outlook is shaping up to be optimistic, with experts forecasting changes in two key areas that could affect your decision-making: mortgage rates and home prices.

Whether you’re planning to buy or sell, here’s what industry experts are saying about these upcoming trends and how they could impact your goals.

Mortgage Rates Forecasted to Decline Gradually

Mortgage rates have been a major influence on housing market activity over the past few years. If you’ve felt uncertain about rates, here’s some good news: experts are predicting a gradual decrease throughout 2025. The path to lower rates won’t necessarily be smooth, as economic data and inflation numbers will play a role…

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Home Buying in Fall: Why Now’s a Unique Time to Purchase in Brookings, SD

Did you know that home listings typically slow down as summer ends? It’s a reliable seasonal trend in real estate, but this year, there’s a twist. With mortgage rates dipping at the end of summer, we’re seeing an uncharacteristic boost in new homes hitting the market—right when inventory usually starts to drop.

According to the latest data from Realtor.com, the number of homes listed for sale in September increased by a surprising 11.6% compared to last year. This rise, fueled by more homeowners seizing the opportunity to sell when rates declined, offers Brookings-area buyers more choices than expected for the fall season. Here’s a look at what this means for buyers and why now might be the ideal time to start your home search.

Why Fall…

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Leveraging Your Home Equity: How It Can Maximize Your Next Down Payment

Are you considering a move but concerned about the affordability of buying your next home? There’s good news for homeowners: thanks to increased home equity, many are able to put down more money on their next purchase than ever before, which can make a big difference in affordability and overall savings.

According to recent data from Redfin, the typical down payment for U.S. homebuyers has reached an all-time high of $67,500—about 15% higher than last year’s average. This jump in down payments isn’t just a random trend; it’s fueled by substantial increases in home equity, which current homeowners can use to strengthen their buying power. Here’s why and how equity is a game changer in today’s housing market.

The Equity Advantage: Why It’s…

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