Real Estate Blog - Home Buyers

Perspective Matters When Selling Your House Today

Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown.

Fewer Homes for Sale than Pre-Pandemic

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market. A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below):

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll understand the big picture.…

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Why You Should Consider Condos as Part of Your Home Search

The historically low inventory over the past few years led to challenges for many buyers trying to find a home that met their needs and their budget. If you’re in the same boat, you should know the recent shift in the housing market may have opened up doors for you to restart your search.

The inventory of homes for sale has increased this year, and that’s giving buyers much needed options. As Danielle Hale, Chief Economist at realtor.com, says:

“. . . today’s shoppers have more than 5 homes to consider for every 4 they had at this time a year ago.”

But perspective is important. Overall, housing supply is still low. If you need even more choices, expanding your search by adding additional housing types, like condominiums, could…

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How Low Inventory May Impact the Housing Market This Fall

Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale.

Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but there just aren’t enough houses for sale to meet that growing need. Sam Khater, Chief Economist at Freddie Mac, explains:

“Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery…These low rates have ignited robust purchase demand activity…However, heading into the fall it will be difficult to sustain the growth momentum in purchases because the lack of supply is…

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The Top Reasons People Are Moving This Year

Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home.

According to Zillow:

“In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a growing wish list of what they’d change about their homes, if possible.” 

With a new perspective on homeownership, here are some of the top reasons people are reconsidering where they live and…

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Aurora Home For Sale

209 Audra Dr, Aurora, SD

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$ Click for current price
4 BEDROOMS | 2 full, 1 ¾ baths BATHROOMS | 2176 SqFt

JUST LIKE NEW, BUT WITH ALL THE EXTRAS! This Split Level home is barley broken in, so why pay new price, when you can have it all right now. Fully finished with a 10x10 deck and a yard full of grass. This home has an extra large foyer to fit a small party, access to the 3 stall garage and an extra coat closet. Take the party upstairs and entertain with the open floor plan of the Kitchen, Dining Room and Living Room. Later, you can take it downstairs to the large Family Room, or an option to…

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Current Buyer & Seller Perks in the Housing Market

Today’s housing market is making a truly impressive turnaround, and it’s also setting up some outstanding opportunities for buyers and sellers. Whether you’re thinking of buying or selling a home this year, there are perks today that are rarely available, and definitely worth looking into. Here are the top two.

The Biggest Perk for Buyers: Low Mortgage Rates

The most impressive buyer incentive today is the average mortgage interest rate. Just last week, mortgage rates hit an all-time low for the eighth time this year. The 30-year fixed-rate is now averaging 2.88%, the lowest rate in the survey’s history, which dates back to 1971 (See graph below):

This is a huge advantage for buyers. To put it in perspective, it means that today you…

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Today's Buyers Are Serious about Purchasing a Home

Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates:

“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”

It’s no surprise that buyers are out in full force today. Many Americans now need more space to work…

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For Sale in Brookings

655 Park Ave, Brookings, SD

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5 BEDROOMS | 2 full, 1 ¾ baths BATHROOMS | 2889 SqFt

DO YOU LIKE MONOPOLY? Who wouldn't want to live on Park Ave? Just like the game, this Ranch home is prime. Let's start with with the location, it's ok to pass GO....right next to shopping and the grocery store. FREE parking in the 3 stall garage, then go Directly to the open Kitchen & Dining Room with hardwood floors, granite counter tops & glass tile backsplash. Main Floor Laundry and 3 Bedrooms on the main level, with 2 Bedrooms in the Lower Level. Formal Dining and Living Room with a…

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Open House-Thursday the 13th from 5-6:30pm

309 Eastern Ave S, Brookings, SD

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3 BEDROOMS | 1 full, 1 ¾ baths BATHROOMS | 1802 SqFt

GO EAST YOUNGMAN....to Eastern Ave. You don't have to travel far to see this rare beauty. This well taken cared for home built in 1962 sits in a cul-de-sac close to parks & shopping. In the afternoon, enjoy the warm rays of the sun coming through the large picture window in the Living Room. And on those colder nights, crank up the fireplace and kick back for the evening with a tasty beverage. This home has steel siding and a few newer, ''big…

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Is the Health Crisis Driving Buyers Out of Urban Areas?

The pandemic has caused consumers to re-examine the components that make up the “perfect home.” Many families are no longer comfortable with the locations and layouts of their existing homes. The allure of city life (more congested) seems to be giving way to either suburban or rural life (less congested). The fascination with an open floor plan seems to be fading as people are finding a need for more privacy while working from home.

Recently, news.com released a report that revealed how buyers’ views of listings are leaning heavily to more suburban and rural properties. Here are the year-over-year percentage increases in views per property type:

• Urban – 7%
• Suburban – 13%
• Rural – 16%

In the report, Javier Vivas, Director of…

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