Found 26 blog entries tagged as Competition.

 



There’s no denying affordability is tough right now. But that doesn’t mean you have to put your plans to buy a home on the back burner.

If you’re willing to roll up your sleeves (or hire someone who will), buying a house that needs some work could open the door to homeownership. Here’s everything you need to know so you can decide if this is the right move for you.

What’s a Fixer-Upper?

A fixer-upper is a home that’s livable but requires some renovations. Think cosmetic updates like wallpaper removal and new flooring or more extensive repairs like replacing a roof or updating plumbing.

While fixer-uppers need a little TLC, here’s why they may be worth considering, especially right now:

  1. They Usually Have a Lower Price…

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Let’s face it — buying a home can feel like a challenge with today’s mortgage rates. You might even be thinking, “Should I just wait until spring when more homes hit the market and rates might be lower?”

But here’s the thing, no one knows for sure where mortgage rates will go from here, and waiting could mean facing more competition, higher prices, and a lot more stress.

What if buying now — before the spring rush — might actually give you the upper hand? Here are three reasons why that just might be the case.

1. Less Competition from Other Buyers

The winter months tend to be quieter in the real estate market. Fewer people are actively looking for homes, which means you’ll likely face less competition when you make an offer. This…

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Waiting for perfect market conditions often means missing out. Because what you may not realize is, if you’re ready and able to buy, this time of year could actually give you an edge. Here’s why. As the weather cools down, the housing market can too – and that works in your favor.

You Likely Won’t Feel as Rushed

Homes tend to take a little longer to sell during this time of year. Data from the National Association of Realtors (NAR) shows the average time a house sits on the market jumps up during the winter months (see the green bars in the graph below):

This is partly because fewer buyers are active at this time of year – and that decrease in buyer competition means the houses that are on the market aren’t going to be snatched up as…

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A lot of people assume spring is the ideal time to sell a house. And sure, buyer demand usually picks up at that time of year. But here’s the catch: so does your competition because a lot of people put their homes on the market at the same time.

So, what’s the real advantage of selling your house before spring? It’ll stand out.

Historically, the number of homes for sale tends to drop during the cooler months – and that means buyers have fewer options to choose from.

You can see how that trend played out over the past few years in this data from the National Association of Realtors (NAR). Each time, the supply of homes for sale dipped during these cooler months. And then, after each winter lull, inventory started to climb as more sellers…

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Let’s be real – buying a home right now is tough. You’re scrolling through listings, rushing to open houses, and maybe even losing out to more competitive offers. Somewhere along the way, you might’ve heard the reason it’s so hard to find a home is because big Wall Street investors are swooping in and snatching up everything in sight.

But here’s the thing: that’s mostly a myth. While investors are part of the market, according to Redfin, they’re a relatively small part:

Here’s what that means. Five out of every six homes are being purchased by everyday homebuyers like you – not big investors.

So, before you get discouraged, let’s take a look at what’s really going on. You might be surprised to learn that Wall Street isn’t the competition…

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Has your home been sitting on the market longer than you expected? If so, it's only natural to feel frustrated. You might even be considering pulling the listing and waiting to see what 2025 brings. But before you make any decisions, it’s important to know that taking your home off the market now could actually cost you in the long run.

In Brookings, South Dakota, and the surrounding areas, the real estate market tends to fluctuate with the seasons, but right now might be the perfect time to stay the course. Let’s dive into why keeping your home on the market through this season could be the smarter move—and how Shane Andersen and the Brookings Home Team can help you make the most of it.

Other Sellers Are Pulling Back – Should You Follow?

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June is a busy month in the housing market because a lot of people buy and sell this time of year. So, if you’ve got a move on your mind and you’re looking to make it happen this month, here’s a snapshot of what you need to know to make sure you’re ready.

If You’re Buying This June

A lot of homebuyers with children like to move after one school year ends and before the next one begins. That’s one reason why late spring into summer is a popular time for homes to change hands. And whether that’s a motivator for you or not, it’s important to realize more buyers are going to be looking right now – and that means you’ll want to be ready for a bit more competition. But there is a silver lining to a move this time of year. This is also when more…

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If you’re planning to move soon, you might be wondering if there'll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here's what the professionals are saying about what’s in store for this season.

Odeta Kushi, Deputy Chief Economist, First American:

“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.”

Lisa Sturtevant, Chief Economist, Bright MLS:

“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.”

Danielle Hale, Chief Economist, Realtor.com:

“Where we are…

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Wondering if it still makes sense to sell your house right now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why.

An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:


Here’s a breakdown of how this benefits you when you sell.

1. You Have More Options for Your Move

Are you thinking about selling because your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That…

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As the year winds down, you may have decided it's time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here are three reasons to make your move before the new year.

Get One Step Ahead of Other Sellers

Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year. That’s because people get busy around the holidays and sometimes deprioritize selling their house until the start of the new year when their schedules and social calendars calm down. But that gives you an opportunity to get one step ahead.

Selling now, while other homeowners may hold off until after the…

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