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Morristown NJ Home Sales August 2009
By admin | September 5, 2009
The month of August was a fairly busy month for home sales here in Morristown New Jersey. The number of closed homes does not really reflect how busy it really was actually. The way this works is that the home sales that I report here are actually homes which went under contract back in June and July of this year, and then finally closed and transferred to their new owners during the month of August.
With the Home Buyer $8000 tax credit expiring on December 1 of 2009 there has been a scramble of sorts to take advantage. The fact that mortgage interest rates have been creeping up all year is also forcing people to take a second look at locking in now verses waiting. There seems to be a trend that when interest rates are falling people hold back and don’t do anything, thinking that they will wait and catch the bottom. What usually happens though is that the bottom comes and goes, and then interest rates move higher and these same people are left to scramble to lock in rates and usually they lock in higher than if they would have moved forward to start with.
There are also those people who seem to think that it does not matter what mortgage interest rates do, because they think that home prices will continue to fall. Well consider this, if mortgage interest rates go up 1% that would raise the payment on the same amount borrowed by 9%. That mean that prices would have to come down about 9% in order for you to be able to afford the same home. Is that likely to happen? Not likely in the lower and mid-range priced homes. The lower price range homes have been the hottest segment for the past 18 months now, and have not lost anything like 9% over that 18 month period. For the past 4 to 6 months it has seemed that home prices have actually be very stable to possibly creeping up a little bit.
Morristown NJ 07960 Home Sales
- Morristown 47 1/2 SUSSEX AVE LP $178,695 Colonial 3br 2.1ba $160,000SP 52DOM
- Morristown 320 South Street- 4F LP $215,000 OneFloor 1br 1ba $205,000SP 49SOM
- Morristown 320 South Street $219,900 FirstFlr 1 1 $216,500 28
- Morristown 6 Altamont Court - Unit 16 $244,900 OneFloor 1 1 $235,000 146
- Morristown 12 CLINTON ST $249,900 TwnIntUn 4 2 $245,000 70
- Morristown 10 THOMPSON ST $275,000 Colonial 3 1.1 $265,000 90
- Morristown 111 Early Street $399,900 Colonial 4 1.1 $375,000 164
- Morristown 53 HILL ST $424,000 TwnEndUn 3 3 $400,000 35
- Morristown 12 CONDICT PLACE $479,000 Colonial 4 2.1 $460,000 31
- Morristown 23 OLMSTEAD RD $485,000 Colonial 3 2 $461,600 25
- Morristown 69 A WETMORE AVENUE $569,900 TwnEndUn 3 2.1 $525,000 24
- Morristown 30 KING ST UNIT C $749,000 TwnEndUn 3 2.1 $750,000
To search for all Morristown NJ homes for sale. Morristown NJ really is a nice walkable town, with much to offer most everyone.
James Boyer
Morristown NJ REALTOR
RE/MAX Properties Unlimited
973-539-6300 Office
973-647-0253 Direct
Category: Morristown |
One Response to “Morristown NJ Home Sales August 2009”
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April 12th, 2010 at 5:16 am
Какой прелестный вопрос…
сантехник - электрик The way this works is that the home sales that I report here are actually homes which went under contract back in June […….