New Study Reveals One Surprising Reason for the Inventory Shortage

There has been a great amount written on millennials and their impact on the housing market. However, the headlines often contradict each other. Some claim this generation is becoming the largest share of first-time home buyers, while others claim millennials don’t want to own a home, blaming them for the dip in homeownership rate.

While it is true that millennials have achieved milestones like getting married, having kids, and buying homes later in life than their parents and grandparents did, they are not solely to blame for today’s housing market trends.

Freddie Mac’s Insight Report explored the impact of the Silent and Baby Boomer Generations on the housing market.

If millennials are unable to find a home to buy at a young age…

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With Inventory Low: Will Your Dream Home Need Some TLC?

According to a new survey from Move.com, the wave of first-time homebuyers hitting the market this summer has resulted in an interesting statistic. Nearly 60% of buyers searching for a home this spring are willing to consider buying a fixer-upper, with 95% believing that the projects needed will increase their new home’s value!

Realtor.com’s Chief Economist, Danielle Hale, pointed to low-inventory at the entry-level price range for the increase in willingness to renovate.

"The combination of rising home prices and limited entry-level homes for sale is prompting many home shoppers to consider homes that need renovating.

Replete with inspiration at their fingertips - like Pinterest, Instagram, and various home renovation TV shows - some…

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#83 Monday Morning Mortgage Tip: Justin Froiland with Fairway Mortgage

Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Justin Froiland from Fairway Mortgage. Listen as Justin explains the importance of researching credit repair companies prior to working with someone to build up your credit.  You can reach Justin at 605.695.1429 or justin.froiland@fairwaymc.com.  His office is located at 412 5th St., Brookings SD 57006 or on the web at www.BrookingsMortgage.com 

 Seller-Paid Closing Costs

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Home Value Appreciation Begins to Stabilize,No Longer Falling.

The percentage of home price appreciation on a year-over-year basis has decreased each month for over a year. The question was how far annual appreciation would fall. It seems we may now have the answer.

In a recent post on the National Association of Realtors’ Economists’ Outlook Blog, it was revealed that Realtors are starting to sense that home values are beginning to stabilize and that we may see appreciation beginning to accelerate again:

“About 3,000 REALTORS® who responded to NAR’s February 2019 REALTORS Confidence Index Survey had more optimistic— although modest— home price growth expectations over the next 12 months. Respondents expect home prices to typically increase by 1.9 percent nationally, up from 1.4 percent in the…

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908 Christine Ave #203-Brookings OPEN HOUSE

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2 BEDROOMS | 2 Baths (1 full, 1 ¾ bath ) BATHROOMS | 1350 SqFt

NO YARD WORK OR SNOW SHOVELING in this 2nd Floor Condo. With 1350 Sq. Ft. you get 2 Bedrooms, a Master Bath, Den and an enclosed patio. Newer Laminate floor in the Dining & Kitchen area. An elevator, and a large common area for all those family dinners and parties. Enclosed parking garage with an extra storage area for the holiday items or tools. Call Today For A Personal Showing.

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OPEN HOUSE AT 3130 Lake Campbell Dr-Brookings

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4 BEDROOMS | 3 Baths (3 full ) BATHROOMS | 1778 SqFt

LAKE VIEWS ALL DAY. This home sits directly across the road of Lake Campbell. A short distance to the beach and all the Lake fun. Built in 2010 with the Lower Level recently finished is this Ranch home with 4 Bedrooms and 3 Full Bathrooms. Main Level Laundry and Solid wood doors. A nice large garden area(s) for the green thumb in you and the 3 stall garage to store all your toys. Don''t let this one get past you. Call Now For A Personal Showing.

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1317 Breckenridge Cir-Brookings OPEN HOUSE

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5 BEDROOMS | 3 Baths (2 full, 1 ¾ bath ) BATHROOMS | 2100 SqFt

YOU CAN HAVE IT ALL! If location is important to you, than look no further with this gorgeous, warm & comfortable home. Can you fill up the 5 Bedrooms, 3 Baths and over 2,100 finished sq. ft? New carpet and fresh paint in the lower level. Lots of storage through out and all of this sitting in a cul-de-sac next to schools, parks & shopping. Don''t wait any longer. Call Now For A Personal Tour!

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OPEN HOUSE 703 7th Ave-Brookings

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3 BEDROOMS | 1 Baths (1 full ) BATHROOMS | 1274 SqFt

A CLASSIC! This gorgeous home has had many improvements over the last several years including NEW WINDOWS on the upper level! The furnace and central air were both replaced in 2014 and the entire exterior was just freshly painted! Check out the entire list of improvements under the Documents and call your Realtor for a showing!

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#82 Monday Morning Mortgage Tip: Andrew Jallo with Dacotah Bank

Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Andrew Jallo from Dacotah Bank and discussed loan estimates. You can reach Andrew at 605.692.8600 or Andrew.Jallo@dacotahbank.com.  His office is located at 1441 6th St., Brookings SD 57006 or on the web at www.dacotahbank.com.

 $7500 Grants Available Through Dacotah Bank

- Good morning everybody! How ya doing? Shane here from the Brookings Home Team, powered by Century 21. We're a couple minutes late again, some technical difficulties but we're working through that. Not quite sure if it's…

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Spring Market Begins AND Buyer Demand Surges

Last fall, some predicted that the 2019 residential real estate market would be a disaster. There was even belief we might experience a housing crash like the one that occurred during the last decade.

However, according to two separate reports*, buyer demand dramatically increased over the last three months, leading into this spring buyers’ market (the March data is not yet available).

Both the ShowingTime Showing Index and the National Association of REALTORS Buyer Traffic Index show that buyer demand has increased in each of the last three months.

Why the increase in demand? Increased buying power.

According to the National Association of Realtors’ Economists’ Outlook Blog, purchasing a home has become more affordable, which…

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