Tuesday Morgan Hill Intero Real Estate Tour
Date: Tuesday January 27, 2009Posted in: real estate, Morgan Hill, Gilroy, listings, interest rates, Intero Real Estate
Our weekly office meeting and new listing tour began with a few words about changes to RESPA (Real Estate Settlement and Procedures Act - I see your eyes blurring already), and a discussion of current mortgage rates as of that moment. The quoted rate for a 30 year fixed, $417k or less conforming loan is 4.875%/5.060 APR, for a 30 year fixed, $417k-$625,500 loan is 5.625%/5.798 APR and for a 30 year fixed, $625,500-$3M loan is 5.75%/5.878 APR. These are for loans with a 1 point discount fee paid at closing and that are owner occupied with a 20% down payment and a 720 credit score. Rates are fluctuating hourly and vary from vendor to vendor.
There were four new office listings on our tour this morning. A stand-out listing is a newly constructed, single story home near the corner of Edmundson and De Witt Avenues in Morgan Hill.
1025 W. Edmundson Avenue, Morgan Hill is a marvelously laid-out 5,600 sq.ft. home with five bedrooms and 6 1/2 bathrooms on a 4 acre lot. There is a feeling of roominess and comfort in this bright and open floorplan. The unique creekside setting adds a lot to the lovely setting. This home is priced at $2,495,000. There is an easement for the Santa Teresa Extension to be built nearby, but I predict this won’t be built for many years in the future, if at all.
Other office listings toured this morning were 1600 W. Edmundson Avenue, Morgan Hill ($1,899,250), 9215 Vista Del Monte Court, Gilroy ($1,350,000) and 17408 Blue Jay Drive, Morgan Hill ($799,999).
For information or a showing of these or any other listings, please contact me at GMerrick@InteroRealEstate.com or 408-892-9015.
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