Real Estate Blog

OPEN HOUSE-June 17th from 5-6:30-Brookings

Posted by Shane Andersen on June 16th, 2021

1048 11th St S, Brookings, SD

Get Directions Click Here OPEN HOUSE Thu, 5:00PM to 6:30PM

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$ Click for current price
5 BEDROOMS | 3 full baths BATHROOMS | 2740 SqFt

Check out this 5 bedroom, 3 bath home in a great neighborhood. Property features 6 panel doors, large laundry room with sink and overhead cabinets, vaulted ceiling and master bedroom with 2 walk-in closets and full master bathroom. Dining area has a patio door to the large deck. The large lot has a raised garden bed and many flowering perennials. The sellers just had a interior house professionally painted. A pre-listing home inspection has been completed…

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Buying a Home Is Still Affordable

Posted by Shane Andersen on June 15th, 2021

The last year has put emphasis on the importance of one’s home. As a result, some renters are making the jump into homeownership while some homeowners are re-evaluating their current house and considering a move to one that better fits their current lifestyle. Understanding how housing affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down the optimal window of time in which to make a purchase.

There are three main factors that go into determining how affordable homes are for buyers:

1. Mortgage Rates
2. Mortgage Payments as a Percentage of Income
3. Home Prices

The National Association of Realtors (NAR) produces a Housing Affordability Index. It takes these three…

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Where Do Experts Say the Housing Market Is Heading?

Posted by Shane Andersen on June 14th, 2021

As we enter the middle of 2021, many are wondering if we’ll see big changes in the housing market during the second half of this year. Here’s a look at what some experts have to say about key factors that will drive the industry and the economy forward in the months to come.

realtor.com

“. . . homes continue to sell quickly in what’s normally the fastest-moving time of the year. This is in contrast with 2020 when homes sold slower in the spring and fastest in September and October. While we expect fall to be competitive, this year’s seasonal pattern is likely to be more normal, with homes selling fastest from roughly now until mid-summer.”

National Association of Realtors (NAR)

“Sellers who have been hesitant to list homes…

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Should I Move or Refinance?

Posted by Shane Andersen on June 11th, 2021

The level of equity homeowners have is at an all-time high. According to the U.S. Census, over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Every time real estate values increase, homeowners get a dollar-for-dollar gain in their home equity.

According to the first-quarter 2021 U.S. Home Equity Report from ATTOM Data Solutions:

“17.8 million residential properties in the United States were considered equity-rich, meaning that the combined estimated amount of loans secured by those properties was 50 percent or less of their estimated market value.

The count of equity-rich properties in the first quarter of 2021 represented 31.9…

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3 Things To Prioritize When Selling Your House

Posted by Shane Andersen on June 10th, 2021

Today’s housing market is full of unprecedented opportunities. High buyer demand paired with record-low housing inventory is creating the ultimate sellers’ market, which means it’s a fantastic time to sell your house. However, that doesn’t mean sellers are guaranteed success no matter what. There are still some key things to know so you can avoid costly mistakes and win big when you make a move.

1. Price Your House Right

When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Even in a sellers’ market, listing your house for the right price will maximize the number of buyers that see your house. This creates the…

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Americans Choose Real Estate as the Best Investment

Posted by Shane Andersen on June 9th, 2021

Some Highlights

• For the eighth year in a row, real estate maintained its position as the preferred long-term investment among Americans.
• Real estate has been gaining ground against stocks, gold, and savings accounts over the last 11 years and now stands at its highest rating in survey history.
• Let’s connect if you’re ready to make real estate your best investment this year.

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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FOR SALE-AURORA 108 Lilac Ave

Posted by Shane Andersen on June 8th, 2021

108 Lilac Ave, Aurora, SD

Get Directions Click Here

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$ Click for current price
3 BEDROOMS | 3 full baths BATHROOMS | 1872 SqFt

Enjoy comfortable living in this fantastic custom home! Plenty of space inside and outside to entertain, natural light, high ceilings, and energy efficient--the sellers really put a lot of thought into designing this home. From the unique live edge Black Hills Pine built-in to the custom Maple cabinets, Quartz counters and professional grade appliances the kitchen is dreamy! In floor heat through out the main level, and forced air/CA in the Upper Level. Want, more finished sq. ft., then finish the…

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Sellers Are Ready To Enter the Housing Market

Posted by Shane Andersen on June 7th, 2021

One of the biggest questions in real estate today is, “When will sellers return to the housing market?” An ongoing shortage of home supply has created a hyper-competitive environment for hopeful buyers, leading to the ultimate sellers’ market. However, as the economy continues to improve and more people get vaccinated, more sellers may finally be in sight.

The Home Purchase Sentiment Index (HPSI) by Fannie Mae recently noted the percentage of consumer respondents who say it’s a good time to sell a home increased from 61% to 67%. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, indicates:

“Consumer positivity regarding home-selling conditions nearly matched its all-time high.” (See graph below):

Fannie…

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Americans See Real Estate as a Better Investment Than Stocks or Gold

Posted by Shane Andersen on June 4th, 2021

Last month, in a post on the Liberty Street Economics blog, the Federal Reserve Bank of New York noted that Americans believe buying a home is definitely or probably a better investment than buying stocks. Last week, a Gallup Poll reaffirmed those findings.

In an article on the current real estate market, Gallup reports:

“Gallup usually finds that Americans regard real estate as the best long-term investment among several options -- seeing it as superior to stocks, gold, savings accounts and bonds. This year, 41% choose real estate as the best investment, up from 35% a year ago, with stocks a distant second.”

Here’s the breakdown:The article goes on to say:

“The 41% choosing real estate is the highest selecting any of the…

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Don’t Forget to Budget for Closing Costs

Posted by Shane Andersen on June 3rd, 2021

When buying a home, it’s important to have a budget and make sure you plan ahead for certain homebuying expenses. Saving for a down payment is the main cost that comes to mind for many, but budgeting for the closing costs required to get a mortgage is just as important.

What Are Closing Costs?

According to Trulia:

“When you close on a home, a number of fees are due. They typically range from 2% to 5% of the total cost of the home, and can include title insurance, origination fees, underwriting fees, document preparation fees, and more.”

For example, for someone buying a $300,000 home, they could potentially have between $6,000 and $15,000 in closing fees. If you’re in the market for a home above this price range, your closing…

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