We've got two exciting announcements to share with you today. Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call us at (605) 413-4868 for a FREE home buying or selling consultation I'm joined today by Stacie Peterson to bring you two big and exciting announcements we wanted to share. First, we're happy to say that Stacie was offered a position with a national real estate coaching company that coaches agents throughout the U.S. and Canada. As you might know, we started Peterson Goff in 2011 to build a team that did things differently. Building the team was Stacie's favorite part, and with this opportunity, she'll get to do what she loves on a bigger scale. The second big announcement is that as of April 1st, we'll be changing our name from Peterson Goff Real Estate Experts to The Tyler Goff Group. We have a cool new website and a great new commercial with Barbara Corcoran from ABC's "Shark Tank" that we're excited for you to see.  “ You'll still get the same systems and service you've come to love with The Tyler Goff Group.” We want you to know that all the great service and systems that you've come to love from our team will be exactly the same with The Tyler Goff Group. Stacie is still a huge part of our team, so you can still reach out to her at any time! Check out the new website here: tylergoffgroup.com If you have any questions about this news or you'd like to learn more, just give us a call or send us an email. We'd love to hear from you!

If you plan on selling your home, it’s tempting to make some repairs or upgrades in order to increase your home’s value. However, which repairs and improvements are the right ones? Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call us at (605) 413-4868 for a FREE home buying or selling consultation I’m here to answer another great question today from a follower who wants to know, “What repairs or improvements should I make to our home before we sell?” This question really has two parts to it. One is repairs and the other is improvements.  Let’s start with the repairs.  If something is obviously wrong with the home, like a hole in the wall, bad shingles, or a broken window, you should always fix it. I wouldn’t give the seller an allowance to do these kinds of repairs for a few reasons. First, it gives them a bad first impression of the house when they come in and see a broken window. The second reason is that when they see stuff like that, they start adding the numbers up in their head. Their number is usually a higher amount than it would cost you to just take care of the problem in the first place. As for improvements, these are a little trickier. A lot of people want to know if adding granite countertops or redoing your floors are worth it. My philosophy has always been to make the most cost-effective improvements. The big, drastic ones can wait. The cost-effective improvements include new paint, updated lighting fixtures, and updated hardware on cabinets. “ I usually only make improvements that are cost-effective.” If you plan on living in your home for a few more years before you sell, I would say to go ahead and get those granite countertops or new floors if you really want them. It will undoubtedly raise your home’s value when you decide to sell. If you have any other questions for me about repairs, improvements, or selling your home in general, give me a call or send me an email. I’m always happy to help.

The numbers from the January 2017 real estate market are in. Today, I’ll explain what’s happening in our current market. Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call us at (605) 413-4868 for a FREE home buying or selling consultation How is our real estate market doing? Let’s take a look at the numbers from January 2017 to find out. First of all, there are 860 homes on the market right now. That might sound like a lot of homes are for sale, but inventory is actually down 22% from January 2016. Buyers are having trouble finding what they are looking for and, if they do make an offer, they usually wind up in a multiple offer situation. That said, the number of pending sales is up 4% from January 2016. That’s not a huge jump, but that combined with the low inventory is really putting a lot of tension on the homes that are available for sale. The good news is that the median sales price has gone up. We ended last year with a median sales price of $172,000; this year, the median sales price is up to $185,000. That increase is a result of the supply and demand issue in our market, which causes prices to go up a little bit. Another price range that is interesting is the $700,000 to $800,000 market. Typically, that price range is pretty low. However, the number of sales in that price range increased by 120% compared to January of 2016, which is great news for those homeowners. “ Inventory is very low and buyer demand is high.” Overall, now is a great time to put your home on the market. Prices are up, competition is scarce, and buyer demand is incredibly high. If you have any other questions about our current real estate market or if you have any other questions about real estate in general, just give me a call or send me an email. I would be happy to help you!

The home inspection process can be a nerve-racking time when you're selling a home. These are the best ways to prepare to ensure that the process goes smoothly. Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call us at (605) 413-4868 for a FREE home buying or selling consultation If you've ever sold a home, you know that the home inspection can be a very stressful part of the transaction. I wanted to give you some tips to help you pass the home inspection and ease your nerves during this potentially stressful time. The first thing to remember is to give access to the inspector. Remove locks from gates, closets, or doors so they can easily get to the important areas of the home. You also want to give them a clear pathway to the attic since they will go in the attic and take pictures. Don't forget to turn off any alarms or security systems that would prevent them from getting into the house.  When you're preparing, remember that the little things add up. Make sure you've made all your little repairs and fixes prior to the inspection. This could include things like broken window panes or door knobs—anything that the inspector will notice. You don't want these issues showing up on the inspection report. It may seem small and obvious, but replacing burnt out light bulbs is important. We have seen a lot of instances of inspectors thinking a light switch doesn't work when the problem is just a burnt out bulb. “ Remember that the little things add up.” When the big day comes, the inspection will take about two to three hours to complete. Make sure any and all pets are either confined or removed from your house so that they're not distracting the inspector from doing their job. You also want to leave any dirty dishes and dish detergent in your dishwasher, because the inspector will run it through a full cycle. You might as well not waste that energy and water in the process. The important thing about this process is to remember that each situation is different and your agent will help walk you through this part of the sale. You don't want to take the findings personally; we often see sellers' emotions get in the way and end up costing them the sale.  I hope you found these tips helpful. If you have any questions about home inspections or anything regarding real estate in Sioux Falls, give me a call or send me an email. I'd be happy to help you out.

Appraisals have become a hot topic in today’s market, so we wanted to take the opportunity to discuss them. An appraisal is what the bank uses to determine the true value of a home that is being bought and sold. The appraisal is done by a certified home appraiser, who is an independent third party in the transaction. Essentially, the appraiser will take the property you're buying or selling and look for homes in the area with similar amenities, features, and square footage to compare them. They are using information based on past sales to validate the price the home is currently being sold at. Appraisals have become more relevant in our market because we’re seeing a lot of home appreciation and a lot more homes that fail to appraise. If an appraiser takes information from a home that sold three months ago, it might not appraise at the value you’re selling it for until three months later. That’s when we have issues with low appraisals. “ Appraisals have become more relevant in our market.” If you're a buyer, an appraisal is meant to protect you so you don’t overpay for a home. It can have a negative effect on buyers, too. Let’s say you fall in love with a house and agree to pay a price you’re happy with. If the appraisal comes in too low, the bank won’t loan you more than the appraised value. If it’s $10,000 or even $50,000 less than what you agreed to pay, you have to renegotiate or walk away from the home if the seller isn’t willing to do that. As a seller, the appraisal affects you more than anything. If you have a low appraisal, you’re going to have to either renegotiate on your price or risk the seller walking away. When we see an appreciating market like this, appraisals become much more of a hot topic. If you have any questions for us about this topic or anything else real estate-related, give us a call or send us an email. We would love to hear from you.

Home sellers ask me all the time how long it will take their home to sell. While the average days on market for a home in Sioux Falls is 83 days, it’s very possible to sell quicker. While you may not sell overnight for over asking price, it can be done. “ Selling over asking price is possible.” If your home has taken longer than a few days to sell, you’re not alone. Here are a few quick tips to help you beat the averages and sell your home quickly and for top dollar. Curb appeal. This is the first impression your home will make with a buyer in person. It’s very important.Decluttering and cleaning. Deep cleaning and simple staging will help you sell for top dollar.Professional photography and online presence. Buyers start their home searches on the internet these days and your photos will affect how many showings you get and how quickly your home sells. All of this may seem overwhelming, but this is where a real estate agent can come in and give you expert advice and tips on how to help your home sell for top dollar. It’s all about surrounding yourself with the right people. If you have any questions for us or want to know what we do to help our clients’ homes sell, give us a call or send us an email. We look forward to hearing from you.

Most of you are probably familiar with Zillow as a home search site, but homeowners can also use the site to get an estimate - or Zestimate - of their home value. Can you trust the number that Zillow gives you? Unfortunately, no. In most cases, Zillow’s Zestimates are anywhere from 5% to 15% off in your local market. Zillow is a national website, so they don’t take local factors into account like a real estate agent would. Instead, Zillow uses an algorithm that uses comparable sales to come up with a home value. “ Zestimates are anywhere from 5% to 15% off.” Ultimately, there really isn’t a good substitute for an agent who can physically come into your home, help you make decisions on repairs, explain the local market, and come up with an accurate home value. Real estate agents also understand the local market, so they are familiar with the area and other factors that affect your home value. Zillow is a good place to start to get an idea of your home value, but it’s not going to be 100% accurate. Don’t rely on Zillow to make any major real estate decisions. If you have any questions about your home value or about real estate in general, give us a call or send us an email. We would be happy to help you!

As you know, you only get one chance at a first impression. In today’s market, 90% to 95% of home buyers begin their search on the Internet, which means that the first impression they get of your property comes from the photos on the MLS. In order to make your home stand out to that buyer, your photos make all the difference. Photography is probably one of the most important factors when selling your home in the current market, thanks to the changes that the Internet has brought to the real estate industry. If you post photos that are dark, grainy, and show up small on the computer screen, they really deter buyers. Buyers want to feel what it’s like to be in your home and if the photos don’t do that, it’s going to be hard to get them off their computer and into your property. If you are selling, make sure you get professional photos. These pictures will be taken at good angles, with great lighting, and will look nice and clear on computer screens. That way, buyers will want to come see your home in person. “ Professional photos draw more buyers to your property.” If you have any questions, give us a call or send us an email. We would be happy to help you!

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call us at (605) 413-4868 for a FREE home buying or selling consultation Many buyers ask, “Should I do a 30-year mortgage or a 15-year mortgage?” There are ups and downs with each. Most people choose a 30-year mortgage because the monthly payments are lower, which gives you more flexibility on how much money you can spend. The 15-year mortgage requires a higher payment, but you’re going to pay that loan off a lot sooner and get a lower interest rate. Still, a lot of people don’t like how high that monthly payment is and opt for the 30-year loan. The good news is there is a way to turn your 30-year mortgage into a 22-year mortgage. All you have to do is make one extra payment per year on your mortgage. You can just make an extra payment, or you can add an extra 1/12th to each of your monthly payments, which can be less painful on a month-to-month basis.   Either way, making that extra payment will save you eight years on your mortgage and tens of thousands of dollars in interest over the life of your loan. If you have any questions, give me a call or send me an email. I would be happy to help you!

Buying a home? Click here to perform a full home search Selling a home? Click here for a FREE Home Price Evaluation Call us at (605) 413-4868 for a FREE home buying or selling consultation So far this year, Sioux Falls has been in a seller’s market. As we head into July, the strong seller’s market continues. Sellers are in control of pricing and they continue to have the leverage this summer. Why are we in a seller’s market? It’s a simple matter of economics, or supply and demand. For instance, our sales are up 20% over last year, which means demand is up. Meanwhile, our supply is down by almost 20% from last year, so demand outweighs supply right now. Not only does this give sellers the upper hand, the current supply and demand also causes home values to rise. While this is great news for homeowners and sellers, increasing home values might not seem so great when you’re buying a home. However, when you buy a home in this market, you know that you are investing in something that will increase in value. In other words, even though this is a seller’s market, buying a home is still a good investment. If you have any questions about our current market, give me a call or send me an email. I look forward to hearing from you!