Blog Post 5

735 Missouri St, Toronto, SD

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$ CLICK FOR CURRENT PRICE 2 BEDROOMS 1.75 BATHROOMS 0.32 acres Lot

Charming home with many updates. 2 bedrooms, 2 baths, and all newer windows, electrical panel, plumbing, newer gutters, downspouts and lighting just to name a few improvements. See complete list of extensive improvements. This home sits on a double lot with alley access. Call today to view this home!

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Some Highlights

  • Comparing housing market metrics from one year to another can be challenging in a normal housing market – and the last few years have been anything but normal. In a way, they were ‘unicorn’ years.
  • Expect unsettling housing market headlines this year, mostly due to unfair comparisons with the ‘unicorn’ years.
  • Let’s connect so I can share the data that puts those headlines in the proper perspective.

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Blog Post 7

309 Thunder Ln, Brookings, SD

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$ CLICK FOR CURRENT PRICE 2 BEDROOMS 1 BATHROOMS 1897.71 sqft Lot

This ONE OWNER home is well maintained and features 2 bedrooms, 1 bath and is waiting for a new owner. Open floor plan and main floor laundry and ALL appliances are included! The crawl space and shed give you extra storage space. Shed has newer roof and shingles. Seller had the front deck stained and a new Larson storm door installed in 2020. The exterior of the house was painted and radon mitigation was installed in 2016. Don''t continue to pay rent…

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When you look at the numbers today, the one thing that stands out is the strength of this housing market. We can see this is one of the most foundationally strong housing markets of our lifetime – if not the strongest housing market of our lifetime. Here are two fundamentals that prove this point. 

1. The Current Mortgage Rate on Existing Mortgages

First, let’s look at the current rate on existing mortgages. According to the Federal Housing Finance Agency (FHFA), as of the fourth quarter of last year, over 80% of existing mortgages have a rate below 5%. That’s significant. And, to take that one step further, over 50% of mortgages have a rate below 4% (see graph below):

Now, there’s a lot of talk in the media about a potential…

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Today’s mortgage rates are top-of-mind for many homebuyers right now. As a result, if you’re thinking about buying for the first time or selling your current house to move into a home that better fits your needs, you may be asking yourself these two questions: 

  1. Why Are Mortgage Rates So High?
  2. When Will Rates Go Back Down?

Here’s context you need to help answer those questions.

1. Why Are Mortgage Rates So High? 

The 30-year fixed-rate mortgage is largely influenced by the supply and demand for mortgage-backed securities (MBS). According to Investopedia: 

“Mortgage-backed securities (MBS) are investment products similar to bonds. Each MBS consists of a bundle of home loans and other real estate debt bought from the banks…

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With all the headlines circulating about home prices and rising mortgage rates, you may wonder if it still makes sense to invest in homeownership right now. A recent poll from Gallup shows the answer is yes. In fact, real estate was voted the best long-term investment for the 11th consecutive year, consistently beating other investment types like gold, stocks, and bonds (see graph below):

If you’re thinking about purchasing a home, let this poll reassure you. Even with everything happening today, Americans recognize owning a home is a powerful financial decision.

Why Do Americans Still Feel So Positive About the Value of Investing in a Home?

Purchasing real estate has typically been a solid long-term strategy for building wealth in…

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Blog Post 7

1329 3rd St, Brookings, SD

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$ CLICK FOR CURRENT PRICE 5 BEDROOMS 3 BATHROOMS

What was old is NEW again!! Check out this home that has been completely updated! New paint, new plumbing, new switches, new appliances, new roof, new light fixtures...and the list goes on! Large lot, central location--don't miss your opportunity to own this beautiful old home made NEW again!! 

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During the fourth quarter of last year, many housing experts predicted home prices were going to crash this year. Here are a few of those forecasts:

Jeremy Siegel, Russell E. Palmer Professor Emeritus of Finance at the Wharton School of Business:

“I expect housing prices fall 10% to 15%, and the housing prices are accelerating on the downside.”

Mark Zandi, Chief Economist at Moody’s Analytics:

"Buckle in. Assuming rates remain near their current 6.5% and the economy skirts recession, then national house prices will fall almost 10% peak-to-trough. Most of those declines will happen sooner rather than later. And house prices will fall 20% if there is a typical recession.” 

Goldman Sachs: 

“Housing is already cooling in the U.S.,…

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Blog Post 2

1617 Mockingbird Ln, Brookings, SD

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$290000

4 Beds - 2.5 Baths - 10800 sqft Lot

You'll be lovin' livin' on Mockingbird Lane in this 4 bed, 3 bath home!! Lots of space for family and entertaining. Triple attached garage with the 3rd garage having a tandem stall extended off the back. All appliances are included, washer & dryer - included, lawn mower-included, HOT TUB-included, large shed in the backyard, raised garden beds, mature trees. Contact your agent for a showing today!! A prelisting inspection was done and is available upon request.


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