Randolph Real Estate

Then look no further! This Shongum Lake colonial with 4 beds plus 1st floor office, finished basement, large, flat, fenced in property and all the fun and events that this lovely community has to offer. Join me for an Open House today from 12-3pm. 

 

This home, The McGrath/Lorey house, built in the early 1700’s and with the same family until now, is filled with so much history plus wonderful and interesting stories such as the femme fatale that once lived there during prohibition.

I remember when we purchased our first home back in 1988 and mortgage interest rates were 11%! I worked for a bank at the time and was elated to get a discounted rate of 8% which helped us tremendously to purchase our brand new condominium which at the time was $125,000, a stretch for our budget.

Well luckily it is now 2016 right around the corner from 2017 and though the mortgage rates have slightly creeped up, they are still historically low. When buyers and sellers ask me questions about predicting the future market, I give them my professional opinion of course, but I always say “if I only had a crystal ball”, which I do not, I could predict with certainty the future of the real estate market.

So why do you ask is the real estate market so HOT? Because no one can predict where the mortgage interest rates will go to in the New Year and most people don’t realize how even the smallest increase in the rate can effect a buyers buying power. That my friends is getting buyers off the fence even in the midst of a cold holiday season when most sellers think no one is buying…think again.

Mortgage rates profound effect on affordability. Below is an example of how the price of waiting can affect your buying power;

Rate Payment Max Price Buying Power Difference
3.875%  $1,900  $380,000  $0
4.375%  $1,900  $363,000  -$17,000
4.875%  $1,900  $345,000  -$35,000

So what are you waiting for, with home prices at their lowest in years and definitely on the rise and historically low interest rates, there has never been a better time to buy a piece of the American dream and buy your own home!

For the latest Randolph market update, go onto www.Randolph-NJ-Homes.com to view monthly home sales.

sherwood-under-contract

kensington-uc

sold-mountainside

Under Contract in just 1 week!!32-sandra-sold

Two great homes for sale just in time for the holidays. 3 Sherwood Court, Randolph is a Classically Elegant home that is ready for your most fussiest buyer as this home checks off everything on your list and more! Priced at $1,149,000, all you need to do is wrap a ribbon around it.

3 Rickland Drive in the sought after Shongum Lake Community is perfectly priced for the size of this home. This home is the gift that keeps giving as you will have many happy memories in this great location. Price Improvement at $549,900, you will not find more house for the money!3 Sherwood Featured Home 3RicklandExclusive

52-misty-just-sold

This classic Shongum Lake colonial with 4 bedrooms upstairs, 1st floor office, finished basement, fenced in yard and large rooms throughout is priced to sell at $575,000. Come by tomorrow and check it out!!open-house-3-rickland

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