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house is worth?

Information is a powerful tool, especially when you are in the market to sell or buy a home. The Tony Ratchford Group provides you with Tony’s up-to-date market news, including sales histories and current interest rates in the Sioux Falls area. You can also find helpful buying and selling tips.

If you would like access to exclusive information on financing options, closing costs, understanding purchasing agreements, construction and property inspection guidelines, how to find the right home at the best value, or how to price your home and sell it faster, contact us.




For Buyers
There are many ways to find homes other than the internet. Some homeowners prefer private sales, just through Realtors.

For Sellers
Next to pricing, property condition is the top reason why homes don't sell.



These rates reflect an average for our area as of June 30, 2009.  We recommend contacting our endorsed lenders for your ideal program.

 30 year conventional

5.250%

 15 year conventional

4.875%

 30 year government (FHA/VA)

5.375%

 15 year government (FHA/VA)

5.000%

 South Dakota Housing Authority  
         Fixed 30 year

4.75%

         Adjustable 1 year/5 year

3.75%

  
FREEDOM 2009
Independence Day should be a celebration of our liberty and a day to express gratitude for perhaps the greatest society ever established.
 
Given the present state of the union, this may be a good time to revisit The Declaration of Independence, The Constitution, The Bill of Rights, and even The Federalists Papers or biographies of our Founding Fathers.
 
During the Constitutional Convention in 1787, the object of our founders was to seek a consensus from The States as to what should be in the Constitution. Nearly everything was agreed upon except for a few items, and those were resolved in the ratification process with the addition of The Bill of Rights.
 
Thomas Jefferson and John Adams were probably the foremost champions for preserving our freedom and creating a government that could endure changes throughout centuries. They stressed the need for a balanced center and a three branch government, all working together with checks and balances to prevent anarchy and tyranny.
 
The Founding Fathers of the Constitutional Convention worked hard for us to enjoy the right of Life, Liberty, and the Pursuit of Happiness. They believed we must govern from the middle. Too little government could cause a weakness in central planning, but too much control would cause monarchial powers and is contrary to our fundamental beliefs expressed in The Declaration of Independence.
 
It is inappropriate for a central government to dictate to us how we are to live. It becomes subjective to the political whim of whoever is in power. The Constitution and The Bill of Rights were designed explicitly to minimize political persuasion and protect our freedom. The three branches of government are there to keep powers in balance.
 
Questions at hand today are: Is our present government performing the duties outlined in the Constitution? Is one branch more powerful than it should be? Are there more rules and control over our lives than are legally allowed or intended?
 
We the People are now the majority owner in at least four major corporations, 11 trillion dollars in debt, and the government thinks it’s their job to tell us how we are to live and what to own. Today, officials want us to drive small cars because of greenhouse gas; tomorrow someone may want us to drive big cars because they think they are safer.
 
The purpose of a three-headed government rule is to keep political whims from reaching into our personal lives. What is needed today is for us to go back to the basics of our Liberty and our Pursuit of Happiness, not the freedoms dictated by a bureaucrat. One must remember when we start dictating to others on how we should live, we will also have the opportunity to be dictated to when things change.
 
Patrick Henry said it well; give me Liberty or give me Death. Maybe it’s time for us to think more about what that means.
 
May you enjoy a fabulous month of celebration.
 
We invite you to call.
Tony Ratchford, Real Estate Broker, CRS, SRES, ABR
 
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The following information was obtained through Realtors Association of the Sioux Empire. It does not include private sales outside the system, and reflects single family residential activity for the past two weeks ending 6/30/09. Updates will be bi-monthly.

 

Sioux Falls

Total Area

June 15-30

June 15-30

Active Number of Listings 956   1785  
New Listings added this period 127   225  
Number of Pending Sales (not closed) 87   139  
Number of Sold (closed) 112   162  
Number of Homes Off Market (Inactive) 90   155  

Market Comments: 75% of all closed sales for the year are under $200,000.  In the past 30 days, sales are in the 86% range.  Interest rates have fluctuated a little this past month.  Federal government intervention has helped keep the rates in 5.25%-5.75% range for a 30 year loan.  Days on the market, as well as number of homes for sale, have increased.  The conclusion is first time buyers are holding up the market.  Levels above $200,000 are still looking for stability.

Forecast: Under $200,000 market will continue to lead the sales.  The $8000 government credit and low SDHA rates is the fuel.  This will expire December 2009.  Interest rates are under pressure and most likely will go up once government intervention runs out of money.  The market in general should do well for the next 3 or 4 months.



Disclaimer: This information is Tony Ratchford’s view on the current market condition and is based on experience affirmed from more than 2800 closed transactions over the past 28 years. For more details feel free to contact Tony at 605.336.8866.