Blog-March 18, 2024-9-10---It’s YOUR Business
   Our It’s Your Business Show—had a chance to catch up on a lot of events—this Monday-----and story lines were truly interesting.

   Tony Bachman---who helps us with the Report Card Show every month—did a little updating for this morning---as we are 18 days into March.

    New listings in February up 38%
    Pending Sales are up 64%
    Closed Sales are up 20%
    Inventory of Homes for Sale up 11%

    As Tony was sharing—realtors are seeing many homes going under contract within days and in some cases, dual offers. The price point that is selling the quickest is $200-$250,000—buyers and sellers have come to terms with interest rates that are currently around 6 1/4% comped to around 8% in October. 

    As Tony reported—both buyers and sellers seem to be optimistic a bout what the next 9 months of 2024 hold—as they look at acting. 

    Tony as well talked about the news that broke last Friday about the National Association of Realtors Settlement. Agents as Tony put it, are still all working on details on how to adapt to the news. Quoting Tony---the main thing I would say is that buyers and sellers still need real estate pros to guide them thru the process. In a nutshell—the main takeaway is that as of July 2024—the new rule will be prohibiting seller compensation on the MLS for buyers agents; sellers can offer buyers concessions on MLS as concessions for buyers’ closing costs. Tony shared that they will be talking about this with their  buyers and sellers so they have clear understanding by July.

    The settlement stems from long-standing lawsuit alleging that NAR policies stifled competition by restricting how real estate agents COULD SHARE commission information with buyers. Now with the settlement in place those restrictions are removed---meaning more transparency and, hopefully, a more level playing field for everyone involved. 

     We’ll follow along as we do our Report Card and Remodelers Shows----in the days and weeks ahead.

     One of the things we did see this morning was that a friend of ours-State Senator Brent Hoffman announced he will not seek re-election to the State Senate---he served City Council and School Board and does not rule out running in the future. 

     One of those lawmakers we did visit with this morning was Tyler Tordsen---and also works with 16 communities---in the Sioux Metro Growth Alliance. Tyler answered my question how does 1 lawmaker serve the needs of 16 area communities?  It could well be the look to the legislative future.

   Tyler has been part of our show---as we talk about what happening in these 16 communities—in essence is just as important as what we see in Sioux Falls. And to Sioux Falls—the labor force that can and does come from those 16 communities is becoming MORE AND MORE IMPORTANT!!

   They are now looking at a community for the first time is outside of South Dakota—in Minnesota. It’s an important change---and we’ll watch Rock County Closely. 

    9:32---we talked with Mr. Purple Heart---who like Senator Hoffman has decided not to run for Re-election. Ken Teunissen—did talk to us about a Ceremony last Thursday to commemorate the granting of a congressional charter to the National American Indiana Veterans. For years Native American vets have been pushing to have a voice in Washington—and Thursday SD Senator Mike Rounds gave it to them with the in a ceremony commemorating the granting of a congressional charter to the National American Veterans.

   For years—Native American vets have been pushing to have a voice in DC—The Senator gave it to them with new congressional charter—and it is official. 

   As Purple Heart shared—they didn’t have any representation anywhere in the US, but there’s over 440,000 of them with no representation and Purple Heart says that’s just not right. 
 
    It was not an easy road with many people pushing hard to have a congressional charter for Native Americans vets. That changed with the signing of the 2024 National Defense Authorization Act, which some members of Congress—including Senator Rounds were working to establish. 20 years later it has. 

    Purple Heart share the big milestone that is.

   We closed the show with Marshal Selberg---who is completing his 8th year as a City Councilman in Sioux Falls---we talked to him about what he has seen in the 8 years---and the concern some people have that 2 of those that will get Council Seats don’t have any opposition. We’ll keep a close eye on the situation. 

   Marshall and I have worked together as real estate agents---and this past November we did a Nov-em-burn event with the Police Chief and a numbers of others raising some funds for those affected by thoughts of suicide and much more. We posed helping spread the Nov-em-burn—State-wide and we are hearing that South Dakota Farmers Union is going to work on that this year------thanks to the work of Jeff Kippley.

     Our It’s YOUR Business Show is available—live at 1320, 105.1, 107.9—use the KELO App—Streaming on line—or just ask Alexa.

     Norm Anderson will have this show posted as a podcast by noon today—go to the KELO-AM Website and look for It’s YOUR Business-the March 18, 2024-9-10 Show—and use these notes ---from me Bill Zortman---as a guide to what is in the show and where to find it. Questions for me—feel free to call/text at 605-728-2455 (BILL) or email me at bill.zortman@mwcradio.com. 
     

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