Pictured above is 123 Riverside Avenue. This house has five bedrooms with four full baths and one half bath. It is listed as 3,938 s.f. and sits on .54 of an acre. The price is $1.895M and the open house is from 1-4 p.m.
Here's This house has five bedrooms with four full baths and one half bath.the home you have been waiting for. A charming classic nestled on uniquely large lot (.54 acres) with lush open lawns, mature trees and pretty gardens. A wonderful wraparound front porch welcomes you to chic interiors with high ceilings, tall windows. rich hardwood flooring and detailed millwork. The sun-filled open floor plan offers a variety of options for design and use. Formal living room with fireplace; large dining room; multiple studies; updated kitchen/stainless steel appliances adjoining huge glass-walled family room overlooking the awesome yard. 5+ bedrooms. Property is part of the coveted Lake Drive Association for bike riding/homeowner events. Sidewalks lead to train, schools and local favorite Adas. An exciting opportunity with substantial expansion possibilities.
Friends. The below article is from a few weeks ago. However, I felt it was pertinent and thought the payment increase on the same loan was a powerful statistic. Also, since Lawrence Yun is the Chief Economist for the National Association of Realtors, felt his opinion was important to share.
Instant Reaction: Interest Rates, June 15, 2022
June 15, 2022
Today's announcement by the Federal Reserve set a big increase in interest rates and means several more rounds of rate hikes are on the way in upcoming months. So far, the short-term fed funds rate that the Fed directly controls has risen by 175 basis points. But the 30-year fixed rate mortgage has risen even more – by nearly 300 basis points. On the same $300,000 mortgage, the monthly payment has risen from $1265 in December to $1800 today. That's painful and, consequently, will shrink the buyer pool.
Home sales have recently been trending down towards 2019 figures. Sales could fall even further with some inventory sitting on the market for more than a month like in the pre-pandemic days. Pricing a listed home properly will, therefore, be the key to attracting buyers. In the meantime, rental demand will strengthen along with rents. Only when consumer price inflation tops out and starts to fall will mortgage rates stabilize or even decline a bit. That is why providing additional oil supplies will be critical in containing consumer prices and interest rates.
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Jared Randall
