Why It Might Be A Good Time To Buy
Homeownership has always been considered part of the American dream. But the real estate roller coaster of the past few years has made it seem like attaining this dream is impossible. In a 2024 Harris Poll study, 60% of Americans said they didn’t believe they would ever own a house, citing high interest rates as the biggest barrier. Before you give up, here are a few things to consider.
Interest rates will change… and change again.
While interest rates are higher than in the past few years, they aren’t historically high.
According to Federal Reserve Economic Data (FRED), rates on a 30-year fixed loan reached 18.63% in October of 1981. Since then, mortgage rates have averaged between six and eight percent. Rates can change daily, even hourly, based on factors like inflation, investor demand, consumer behavior, the economy, world events, etc. One thing you can count on is rates will always fluctuate, so don’t let that hold you back.
Housing prices may keep going up. Since 2020, the United States has seen a surge in home prices. At the start of the decade, the median home price in the U.S. was around $329,000. Four years later, it’s $420,800.
The good news is that when you buy a house, you begin to build equity and longterm wealth, something you don’t get when you continue to rent. Historically, when mortgage rates drop, housing prices tend to go up, so chances are good prices are lower today than they may be next year.
There are financing and assistance options to help make homeownership affordable.
You might be surprised at how many mortgage programs are available. A local mortgage lender like First PREMIER Bank has access to various grants and programs.
For instance, we are currently partnering with South Dakota Housing to help recent college and university graduates get their first home with Grants for Grads.
First PREMIER is also partnering with the Federal Home Loan Bank of Des Moines to offer mortgage rate relief at up to 2%* below the market rate. This is available to qualifying buyers and homeowners who are refinancing and meet income guidelines. There are also downpayment assistance programs, rural development loans, and community and job-specific grants to make your home happen.
Is this the right home for YOU?
Homeownership is a significant financial commitment. Ask yourself if you are ready. Is your credit in good shape? Is your employment and income stable? Are you content living in your community? Do you have excessive debt? Are you ready for all the other things that come with homeownership, like maintenance and repairs?
SATURDAY, AUGUST 3
SUNDAY, AUGUST 4
COREY DeVILLE
Broker/Owner corey@devillewegner.com | 605-359-0171
TOM WEGNER
Broker/Owner wegner.tom@gmail.com | 605-212-1386
DINO DEPERNO
Broker Associate dino@devillewegner.com | 605-728-6366
Completely renovated 4 bed 3 bath home in Hilltop with a large 23x14 master suite, large 18x15 brand new kitchen, and brand new main floor laundry and downstairs laundry. All 4 bedrooms and kitchen are very large for a home in its category. 1,288 square feet on the main. Oversized attached 2-stall garage. Nice corner lot with a fully fenced in yard and a large deck. Newer central AC and furnace system. Wood burning fireplace works perfectly. Updated electrical and plumbing. This house is a must see in person, practically a new house with more character and better amenities of any house currently in its class.
• Looking for a rental investment opportunity?
• Thought about doing a 1031 exchange for tax savings into a new property from a current investment property?
• Ever thought about becoming an owner occupied of a rental property? Live in one of the units rent the other unit out to help subsidize your mortgage payment and build equity?
Find this beautiful ranch style twinhome located in a secluded west side neighborhood that allows units to be privately owned or rentals. Each side consists of 2 bedroom, 2 bath, double car garage and with new construction will help minimize maintenance for years. Property is close to shopping, parks, bike trail and medical facilities.
$385,000
SAT. 12:30-2
Experience the Best of Both Worlds in This Beautiful Home! Step into this remarkable residence that combines modern elegance with the charm of a well-established neighborhood in the heart of Sioux Falls. Situated conveniently near pools, parks, the zoo, bike trails, golf courses, shopping centers and downtown, this home offers a perfect location. The spacious white kitchen boasts a large island with quartz countertops, ideal for hosting gatherings, while the downstairs family room is equipped with surround sound and prewiring for a projector. Relax on the deck and in the backyard seating area surrounded by mature trees and wildflowers. Don’t let this exceptional opportunity pass you by!
Step into this immaculate 5-bedroom, 4-bath home with gleaming hardwood floors and a spacious living area featuring a gas fireplace. The master suite includes a luxurious jacuzzi tub and sitting area. The main floor also has two large bedrooms, a full bath, and a laundry room with a drop-off zone. This level includes two more bedrooms and two full baths, one with a walk-in closet and pass-through bathroom access. There is a large storage room that could also be finished to add a 6th bedroom. The 3-car garage offers plenty of space, and the over half-acre lot provides ample outdoor area. Schedule a showing today to see this meticulously kept gem!
Book one of our virtual tours today to make your listings stand out from the rest! Virtual tours are a great way to promote and showcase your listings during these uncertain times when sellers are leary to have increased traffic through their homes.
PROVEN RESULTS
Clients are 95% MORE LIKELY to call about homes with 3D Virtual Tours. 74% OF AGENTS using Matterport win more listings. The average listing with a 3D Tour sold for up to 9% higher and closed up to 31% faster.
Enjoy access to Round Lake for jet skiing, tubing, kayaking or fishing! Check out this amazing home near Lake Madison and a short golf cart ride to the Lakes Golf Course! This home was moved onto a new foundation, gutted and completely updated & upgraded from top to bottom. New shingles, siding, windows, electrical, furnace, air conditioner and a new deck. As you enter the home from the covered front porch you will fall in love with the open concept of the kitchen, dining and living room area. The kitchen has white cabinets w/ solid surface counters, a pantry, large island and LVP flooring. The the dining room/living room has 10ft ceilings and living room includes an electric fireplace. There are 3 bedrooms on the main with a primary suite that includes a large bathroom, walk in onyx shower, dual sinks and walk in closet. The two other bedrooms share a pass through bath. Main floor laundry. A half bath finishes off the main floor. The basement is large and include a bar and rec area, a sizeable family room, full bath and two more bedrooms. HOA is $150/yr.
Three Bedroom, three bath home on East side of Sioux Falls that is a short golf cart ride to Willow Run Golf Course. As you enter the home you will appreciate the openness of the space between the kitchen, dining and living room with an abundance of natural light. The kitchen has granite tops, a nice sized island and hidden pantry. You can access the covered deck from the sliders in the
Garage 24x22ft
• H/C water hookups and floor drain
• Electric vehicle outlet
• Pre-wired for a heater
• Storm Shelter (4 sides and lid)
Kitchen
• Stainless steel appliances
• Quartz countertops
• Under cabinet lighting
• Soft close cabinets
• Pull out garbage
Living Room
• 10ft ceilings with 9ft ceiling throughout home
• Quartz countertops
Primary Bed (14x16ft/Bath)
• Bathroom in-floor heat
• Quartz countertops
Covered Patio
• Can be converted into a screen in 4-seasons room
• Cold water spigot
Landscaping
• Sod, rock, edging, and underground sprinklers are included
Insulation, Windows, Flooring
• BIBS insulations (blown in blanket system)
• Pella Windows
• Engineered hardwood
Additional Features
• Ductwork is built into the slab, air vents are in the floor to help bring heat through flooring
• Security system, 2 exteriors cameras
• Whole home humidifier
• Homeowners can add white vinyl fences and sheds
• HOA is $100/month and include snow removal and garbage. NO lawn care.
PARADISE ON LAKE MADISON | NEW LISTING
Check out this lakeside paradise on Lake Madison and a short golf cart ride to the Lakes Golf Course! This exceptional year round lakehome boasts a rooftop patio, an in-law suite, plus four spacious bedrooms that offer the perfect blend of comfort and luxury. The open-concept living area features vaulted ceilings, fireplace and panoramic views of Lake Madison. The kitchen includes upgraded appliances for the chef in the family along with a large hidden pantry. The indoor/outdoor bar is an entertainers dream with a glass garage door for indoor/outdoor living! Experience breathtaking sunsets from the 420 sq ft roof top patio! The in-law suite provides privacy and independence for guests, complete with an ensuite bathroom, kitchenette, and walk-in closet! 3-stall heated garage with epoxy floors, and drain. HOA takes care of road maintenance. Home purchase also includes a slip on Lake Madison. Just bring your boat lift and you will be ready to enjoy those summer days cruising on the lake.
