Housing Challenge or Housing Opportunity? It Depends.

Posted by Shane Andersen on November 12th, 2021

The biggest challenge in real estate today is the lack of available homes for sale. The low housing supply has caused homes throughout the country to appreciate at a much faster rate than what we’ve experienced historically.

There are many reasons for the limited number of homes on the market, but as you can see in the graph below, we’re well below where we’ve been for most of the past 10 years. Today, across the country, there is only a 2.4-month supply of homes available for sale.

The Opportunity 

This lack of homes for sale is creating a challenge for many buyers who are growing frustrated in their search. On the other hand, this is a huge opportunity for sellers as low supply is driving up home values. According to CoreLogic, the…

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The Truth About Today’s Buyer Demand

Posted by Shane Andersen on September 28th, 2021

When it comes to the latest news in real estate, there are a lot of sensational headlines in the media. In times like this, when it can be hard to know what to believe, put your trust in the experts. Those of us in the housing market respect that buying or selling a home is a major life decision, and we offer advice based on what the data shows.

Despite what you may have read, the housing market is still undeniably strong. Here’s a look at what leading experts have to say about buyer demand today and how it continues to shape the industry:

Michael Lane, President at ShowingTime:

“In general, there are definite signs of cooling demand. However, buyer traffic is still at historically high levels compared to pre-pandemic showings.”

…

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The Community and Economic Impacts of a Home Sale

Posted by Shane Andersen on August 27th, 2021

If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. What you may not realize is that decision impacts people’s lives far beyond your own. Home purchases and sales are significant drivers of economic activity. They have a major impact on your community and the entire U.S. economy via the multiple industries and professionals that take part in the process.

The National Association of Realtors (NAR) releases a report each year that highlights just how much economic activity a home sale generates. The chart below shows how the sale of both a newly built home and an existing home impact the economy:To dive a level deeper, NAR also provides a detailed look at how that…

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1519 Pine Ridge Rd-For Sale

Posted by Shane Andersen on August 26th, 2021

1519 Pine Ridge Rd, Brookings, SD

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$359900

4bed - 2.75bath - 8799 sqft lot

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Check out this 4 bedroom, 3 bathroom ranch style home with a lower level walk-out to the Indian Hills walking & bike paths. As you enter the home the hardwood flooring is throughout the large foyer, kitchen, dining room and living room with a toasty gas fireplace in those cold months. The kitchen has a built-in desk, pantry, tiled back splash, granite counter tops, and an informal dining area with a vaulted ceiling. Main Level Laundry is a bonus! This beautiful home features a capacious master bedroom suite with walk-in closet, tiled master bath with double sinks, jetted tub and…

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3 Hot Topics in the Housing Market Right Now

Posted by Shane Andersen on August 12th, 2021

If you’re a prospective buyer or seller, it’s important to understand the current real estate market conditions and how they affect you. The Counselors of Real Estate (CRE) just released its Top Ten Issues Affecting Real Estate report. Here are three hot topics from the list and how they impact today’s housing market.

Technology Acceleration and Innovation

The past year ushered in many changes to the real estate industry, especially when it comes to technology. The CRE report elaborates on this:

“Lockdown-driven changes in our work, in the economy, in social structures, and in our personal behavior have pushed our reluctance aside. The acceleration and adoption of technology during the pandemic has impacted everything, and real…

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OPEN HOUSE-June 17th from 5-6:30-Brookings

Posted by Shane Andersen on June 16th, 2021

1048 11th St S, Brookings, SD

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5 BEDROOMS | 3 full baths BATHROOMS | 2740 SqFt

Check out this 5 bedroom, 3 bath home in a great neighborhood. Property features 6 panel doors, large laundry room with sink and overhead cabinets, vaulted ceiling and master bedroom with 2 walk-in closets and full master bathroom. Dining area has a patio door to the large deck. The large lot has a raised garden bed and many flowering perennials. The sellers just had a interior house professionally painted. A pre-listing home inspection has been completed…

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FOR SALE-AURORA 108 Lilac Ave

Posted by Shane Andersen on June 8th, 2021

108 Lilac Ave, Aurora, SD

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3 BEDROOMS | 3 full baths BATHROOMS | 1872 SqFt

Enjoy comfortable living in this fantastic custom home! Plenty of space inside and outside to entertain, natural light, high ceilings, and energy efficient--the sellers really put a lot of thought into designing this home. From the unique live edge Black Hills Pine built-in to the custom Maple cabinets, Quartz counters and professional grade appliances the kitchen is dreamy! In floor heat through out the main level, and forced air/CA in the Upper Level. Want, more finished sq. ft., then finish the…

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82,338 Great Reasons to Buy a Home Today

Posted by Shane Andersen on May 6th, 2021

The financial benefits of buying a home as compared to renting one are always up for debate. However, one element of the equation is often ignored – the ability to build wealth as a homeowner.

Most experts are calling for home prices to continue appreciating over the next several years. The most recent Home Price Expectation Survey, a survey of over one hundred economists, real estate experts, and investment and market strategists, expects home appreciation to increase as follows:

• 2021: 6%
• 2022: 4.5%
• 2023: 4%
• 2024: 3.6%
• 2025: 3.5%

Using their annual projections, the graph below shows the equity build-up a purchaser could earn, using a $350,000 home as an example:A homeowner could increase their net worth by over $80,000…

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NEW LISTING In Estelline SD

Posted by Shane Andersen on May 5th, 2021

407 Pollard Dr, Estelline, SD

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3 BEDROOMS | 1 full, 1 ¾ baths BATHROOMS | 1908 SqFt

This 3 bedroom, 2 bath home is ready for a little TLC. The sellers just installed a new 50 gallon water heater. New steel roof in 2019 and a new garage door and chain link fence in 2010. Large lot 75 x 204.3, storage shed and fenced area for pets or children.A pre-listing home inspection has been completed on this property. Inspection report available upon request. Call today for a showing!

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New Listing-1013 Orchard Dr-Brookings South Dakota

Posted by Shane Andersen on March 23rd, 2021

1013 Orchard Dr, Brookings, SD

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2 BEDROOMS | 1 full, 1 ¾ baths BATHROOMS | 1812 SqFt

Why pay rent when you can own this ranch style home that features 2 bedrooms, 2 bathrooms and main level laundry. It offers a 10 x 14 deck off the main level family room.A few of the improvements include:2021 main level bathroom remodel and in 2020 - new carpet and laminate flooring, vinyl siding on garage and landscaping. A pre-listing home inspection has been completed on this property. Inspection report available upon request. Call today to view this home!

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