Found 25 blog entries tagged as Homebuyer.

 




If you're a first-time homebuyer, chances are you'll come across some terms you’re not familiar with. And that can be overwhelming, especially while going through one of the biggest purchases of your life. 

The good news is you don’t need to be an expert on real estate jargon. That’s your agent’s job. But getting to know these basic terms will help you feel a lot more confident throughout the process.

Terms Every Homebuyer Should Know

Once you’re familiar with this terminology, you’ll have a better understanding of important details – from contracts to negotiations. So, when those big conversations happen, you’ll feel informed, in control, and able to make the best decision for your unique situation. As Redfin puts it:

“Having a basic…

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2401 Larkspur Ridge Dr, Brookings, SD

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$ CLICK FOR CURRENT PRICE 4 BEDROOMS 3 BATHROOMS 0.23 acres Lot

Welcome to 2401 Larkspur Ridge Dr, where comfort meets convenience in one of Brookings' newer developments - Christie Heights! This 4-bedroom, 3-bathroom home boasts over 1,900 finished sq. ft., offering plenty of space to stretch out and make yourself at home. Step inside to discover a thoughtful layout featuring two bedrooms on the main level, including the primary suite with a unique pass-through walk in closet that connects directly to the bathroom making those morning routines just a…

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What’s Motivating Homeowners To Move Right Now




Over the past few years, some homeowners have decided to delay their move because they don’t want to sell and take on a higher mortgage rate on their next home. Maybe you’re thinking the same thing. And honestly, that’s no surprise. It’s a very common roadblock and is one of the biggest factors that’s kept the number of homes on the market so low for so long.

But a growing number of homeowners are deciding they just can’t wait any longer. Often, it’s because of personal or lifestyle change. As Redfin explains:

“Some homeowners are opting to bite the bullet and give up their low rate in order to move. Many are selling because a major life event like a job change, or divorce . . .”

If you’re…

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When it comes to selling your home and finding the right new home for you, there’s good news. New homes are on the rise! When you add these homes to your search, you could end up finding exactly what you need. Check out this video for more information and let us know if you have any questions – we’re here for YOU! We are the Brookings Home Team, how can we serve YOU?

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Blog Post 4

1818 17th Ave S, Brookings, SD

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$ CLICK FOR CURRENT PRICE 5 BEDROOMS 2 BATHROOMS 10000 sqft Lot

Check out this 5 bedroom, 2 bath ranch home that is centrally located and is across the street from a large city park. The Sellers had a new furnace and air conditioning unit installed the fall of 2021 along with a radon mitigation system in 2020. A double garage with an extra parking pad for an extra car, boat or camper. The back yard is fenced and includes a storage shed. The large front deck is composite and will provide good space…

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If you’re considering buying a home or selling your current one to find something that better suits your needs, you may have questions about what’s happening with home prices today. Here’s what you need to know.

There’s still a lot of confusion and misinformation out there. So, no matter what you may have heard, the national data shows they've actually been climbing again (see graphs below):

 


As you can see, in the first half of 2022, home prices went way up. Those increases were dramatic and unsustainable. So, in the second half of 2022, prices adjusted. Those dips were small and didn't last very long. Still, the news made a big deal about these slight declines, which may have made you worry.

But what's important to know is that,…

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How does a 2-1 buydown help the seller and buyer? We dive into that in this video, how a 2-1 buydown works, what it means for interest rates and much more. Check it out and let us know here at the Brookings Home Team how we can help YOU! Or reach out to Justin Froiland with Guaranteed Rate Mortgage to hear more information directly from him.   We are the Brookings Home Team, how can we serve YOU?

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If you're planning to buy your first home, then you're probably focused on saving for all the costs involved in such a big purchase. One of the expenses that may be at the top of your mind is your down payment. If you’re intimidated by how much you need to save for that, it may be because you believe you must put 20% down. That doesn’t necessarily have to be the case. As the National Association of Realtors (NAR) notes:

“One of the biggest misconceptions among housing consumers is what the typical down payment is and what amount is needed to enter homeownership.”

And a recent Freddie Mac survey finds:

“. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the…

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During the pandemic, many of us reexamined the meaning of home for ourselves and our loved ones. Today, that can be seen in the recent rise in multigenerational households. According to Jessica Lautz, Deputy Chief Economist and Vice President of Economic Research at the National Association of Realtors (NAR):

“Multi-generational buying may be a home where families live in the same home with elderly parents, children who have boomeranged back home, or other extended family members. While this is not a new concept of living, it is one which has gained recent popularity.”

And citing data from Pew Research Center, the Wall Street Journal (WSJ) says:

“. . . multigenerational living has made a comeback in recent years, particularly after the…

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