Shop In Carver This Weekend

On the third weekend of every month you can find the small, Minnesota river town of Carver bustling with women on a mission to find reclaimed vintage home decor. This small town, with a population just over 3,000, can be found just southwest of Chaska. But don't let the size fool you. Carver is on the verge of exploding due to it's close proximity to the new Highway 212 and it's quaint downtown right on the river. And it is quickly becoming the hot spot for people on the lookout for old things turned new again.

This weekend, the monthly occasional shops in Carver will open their doors from Thursday to Saturday. Savvy shoppers will show up early on Thursday morning to nab the best finds. Be prepared to stand in line before the doors open at Mustard Moon, located at 300 Broadway Street. With a tag line of "All Things Quaint & Old" you'll be sure to find that perfect piece for your home. Located in the basement of one of Carver's many historical buildings, you'll feel like you're walking back in time with the low ceilings and stone walls. Every inch of the shop is filled with treasures that will tempt you. Upstairs, you will find two other vintage-style shops: Seasons in Carver and The Nature Of It.

Other shops open during the weekend include Carver County Flower & Gifts, Country Cottage of Carver, and Objects & Art. Be sure to stay for lunch at Harvey's Bar and Grill or Lisa's Place. All are are within a few blocks of one another.

For great vintage finds close at hand in the southwest metro, be sure to visit Carver this weekend.

Average 30-Year Mortgage Rises Past 5%

Mortgage rates rose this week to their highest level in 10 months, but the increase isn't expected to derail strengthening in the battered U.S. housing market.

Freddie Mac reported Thursday that 30-year fixed-rate mortgages averaged 5.05% this week. That's the highest since late April and up sharply from a modern record low of 4.17% in November.

Rates would have to rise much more to squelch a housing market recovery, economists say. And the federal government would likely take steps to pull rates down if that occurred, they add.

"Nobody is welcoming a rise in interest rates, but it's not enough to kill purchases in the housing market," says Keith Gumbinger of mortgage researcher HSH.com.

To discourage large numbers of sales, rates would have to top 6%, predicts ISH Global Insight economist Patrick Newport. If they went over 5.5%, that would likely spur government action, adds Cameron Findlay, Lending Tree chief economist.

Even though rates have been rising since November, they're still low by historical standards. For the past 20 years, 30-year fixed loans have averaged 6.9%, Findlay says. For the past 10 years, they averaged 5.93%.

Low rates and low home prices helped fourth-quarter home sales, the NATIONAL ASSOCIATION OF REALTORS® reported Thursday.

Nationwide, fourth-quarter sales rose 15% from the third quarter. But they were still 20% below a year earlier, when federal tax credits artificially boosted sales.

Median prices for single-family homes were up year-over-year in 78 of 152 metropolitan areas. But they were up just 0.2% nationwide, the NAR said. Newport expects prices to drop further and begin to turn around midyear.

The association's data indicate several larger markets posted healthy price gains due to stronger job growth. In Washington, D.C., median prices were up 8.1% year-over-year. The Boston region posted a 4.2% rise, and Austin was up 4.1%.

"Sales clearly recovered in the latter part of 2010," says Lawrence Yun, NAR economist. He expects sales to pick up this year despite interest rates he predicts will be 5.5% or higher by year's end.

But job creation "will trump the rise in rates" and keep home sales improving, Yun says.

Higher rates will have a bigger impact on refinancing activity, Gumbinger says. That fell 8% for the week ended Feb. 4 as interest rates jumped, the Mortgage Bankers Association says.

Mortgage rates follow yields on 10-year Treasury bonds, which have been rising recently.

By Julie Schmit
February 11, 2011
© Copyright 2011 USA TODAY, a division of Gannett Co. Inc.

Bills Aim to Stem Home Losses

Legislation intended to stem the continuing tide of home foreclosures was brought to both houses of Congress in January.

Rep. Dennis Cardoza, D-Atwater, re-introduced a bill that would make it easier for home owners to refinance existing mortgages to net more manageable monthly payments. He proposed this bill, called the HOME Act, in 2009.

Last week, U.S. Sen. Barbara Boxer, D-Calif., introduced a similar bill in the Senate.

"Like the HOME Act, Sen. Boxer's bill would lower interest rates for millions of struggling home owners, lowering their monthly mortgage payments and giving them a fair shot at keeping their homes," Cardoza said.

Both bills would allow home owners with mortgages backed by Fannie Mae or Freddie Mac to take advantage of lower interest rates, Cardoza said.

There are about 30 million mortgages backed through Fannie or Freddie, and the potential savings from such a program could amount to a $50 billion reduction in annual payments, according to an estimate from Morgan Stanley and JP Morgan Chase cited in a news release from Cardoza's office.

The economy is directly related to the housing crisis, and recovery requires action to stop the "domino effect of foreclosures," Cardoza said.

The program outlined in the HOME Act would be funded through new mortgage-backed securities and would have little to no cost to taxpayers, according to the release.

February 3, 2011
By The Record, Stockton, Calif.
Distributed by McClatchy-Tribune Information Services

Minneapolis isn't Miserable!

It's cold here but it could be worse!!! Some of the warmest cities have just been voted "the most miserable". Having spent time in several of these - I happen to agree! There's no place like home.

Even plenty of sunshine can’t get the cities that topped the list of the most miserable smiling.

California residents are pretty miserable, according to Forbes’ list of the most unhappy cities in the United States. California cities account for eight of the 20 most miserable places in the U.S., and four of the top five. Falling home prices, high unemployment, high crime, steep state taxes, and a large budget deficit have brought a lot of Californians down in recent months.

Here is the list of the most miserable cities, according to Forbes:

1. Stockton, Calif.
2. Miami
3. Merced, Calif.
4. Modesto, Calif.
5. Sacramento, Calif.
6. Memphis, Tenn.
7. Chicago
8. West Palm Beach, Fla.

Forbes analyzed 200 U.S. cities for its list, taking into account such factors as housing, unemployment, weather, taxes, commuting times, crime, and how the cities’ sports teams performed in recent years.

"Both California and Florida have a history of boom and bust economies,” Kurt Badenhausen, Forbes senior editor, told Reuters. “People flooded to these states because of the weather during the boom years but that helped inflate the massive bubble in housing."

In Stockton, home prices have fallen by 58 percent over the last three years and unemployment has averaged 14.3 percent--and projected to rise to 18.1 percent in 2011.

"Stockton has issues that it needs to address, but an article like this is the equivalent of bayoneting the wounded," Bob Deis, Stockton city manager, told Forbes.

Cleveland — which last year held the title as the most miserable — is getting a little happier; it ranking 10th on this year's list. Cleveland’s unemployment rate increased at a much slower rate than other parts of the country, which helped improve its ranking this year.

See Forbes.com’s full list of the most miserable.

Source: “California Cities Top Most Miserable List,” Reuters News (Feb. 3, 2011)

'Shadow' real estate inventory may take 4 years to clear

S&P: Slower liquidation rates to blame


It may take more than four years to clear the "shadow inventory" of distressed homes lurking on the sidelines in the U.S., a factor that's likely to undermine real estate prices as the backlog clears, analysts at Standard & Poor's Ratings Services say.


At 49 months, the estimated time needed to clear shadow inventory at the end of the fourth quarter of 2010 was up 11 percent from the previous quarter and 40 percent from a year ago. With the lone exception of Miami, the months' supply of shadow inventory grew in almost all of the nation's 20 largest metro markets.


But much of the increase in the estimated months needed to clear shadow inventory is due to the fact that it's taking longer for lenders to liquidate distressed homes -- not because the number of distressed properties is growing, analysts said.


Standard & Poor's defines shadow inventory as properties with borrowers who are 90 days or more delinquent on their mortgage payments, properties currently or recently in foreclosure, or properties that are real estate owned (REOs).


Although shadow inventory peaked in the first quarter of 2008, loans that are 90-plus-days delinquent and foreclosed properties are taking longer to become REOs. That's once again lengthening the overall timeline for resolving troubled assets, Standard & Poor's analysts said.


http://www.inman.com/

Weekend Happenings

Embrace the cold weather this weekend and visit Minneapolis' annual Nordic ski event, the City of Lakes Loppet.

The City of Lakes Loppet is a cross-country ski festival featuring the beautiful trails and lakes of the Twin Cities. In addition to the nine different races being showcased, there are many more fun events taking place both Saturday and Sunday, February 5 & 6. Take in the Snow Sculpture Contest, play some games at the Minnesota Youth Ski League SuperCarnival, or visit the heated tent in Uptown to take in some brats, BBQ sandwiches, and Minnesota's own Surly Beer. Finish your day with a beautiful night-time ski around Lake of the Isles, lit up with thousands of ice luminaries, plus a heated tent full of music and fun.

Whether you've been a Nordic skier for years or whether you shudder just thinking about being outside in that thin, tight nylon suit, everyone can find something to like at the City of Lakes Loppet.

On the way up...

10 Cities Where Home Prices Will Rise in 2011
While home prices are expected to continue to fall in most metro areas, Clear Capital’s Home Data Index report says a few cities are already on the rebound and showing some gains in home values.

“There really is this segmentation of these markets occurring where the one-size-fits-all national level numbers to represent all numbers really isn’t valid anymore,” Alex Villacorta, senior statistician at Clear Capital, told MSNBC. “Overall we’re seeing prices start to stabilize going into 2011, but unfortunately some of those markets will stabilize in the downward direction where others will see a sustained recovery.”

Clear Capital takes into account unemployment rates, foreclosure rates, and real estate inventory in its index.

The following is a list of 10 cities that Clear Capital expects will rise in property value in 2011:

1. Washington, D.C.: 6.5 percent price increase
2. Houston: 3.6 percent price increase
3. Honolulu: 3.4 percent price increase
4. Memphis, Tenn.: 3.2 percent price increase
5. Columbus, Ohio: 2.1 percent price increase
6. Dallas: 1.4 percent price increase
7. New York: 1.3 percent price increase
8. Birmingham, Ala.: 0.9 percent price increase
9. Pittsburgh: 0.8 percent price increase
10. New Orleans: 0.5 percent price increase

Meanwhile, Clear Capital reports that real estate markets in Florida and the Western parts of the U.S.—such as cities in Arizona and “Breadbasket metros” like Oklahoma City, Okla., and Dayton, Ohio—likely will see the largest price drops in home values over the year. Virginia Beach, Va., is expected to have the highest drop in 2011, with a 12.8 percent price decrease, according to Clear Capital report.

Source: “Where Home Prices Will Rise, Fall the Most in 2011,” MSNBC (Jan. 26, 2011)

To Own or Not to Own: That is the question.

According to a NATIONAL ASSOCIATION OF REALTORS® survey of 3,793 adults conducted by Harris Interactive and released in January 2011, home owners and renters agree that home ownership benefits individuals and families, strengthens our communities, and is integral to our nation’s economy.

• The vast majority of both home owners and renters say that owning a home is a smart decision over the long term. Even in today’s challenging economy, 95% of owners and 72% of renters believe that over a period of several years, it makes more sense to own a home.

• Home owners are much more likely to be satisfied with the quality of their family and community life than renters. While more than half of owners (56%) are “very” or “extremely” satisfied with the overall quality of their family life, only about one-third (36%) of renters report the same levels of satisfaction. Also, 43% of home owners are “very” or “extremely” satisfied with their community life, compared with 30% of renters.

• An overwhelming majority of home owners are happy with their decision to own a home. A full 93% of owners surveyed would buy again.

• Most renters aspire to home ownership. The majority of renters (63%) say they are at least somewhat likely to purchase a home at some point in the future. Among them, young adults (18- to 24-years-old) have the strongest aspirations for home ownership.

Another Exceptional Home from Stafford Family Realtors

Welcome to 6397 Cliffwood Circle

Excelsior, Minnesota

Listed at $799,900

This beautiful example of Prairie-Style design is truly exceptional. Nestled on a .87 acre lot on a quiet cul-de-sac, this home offers amazing living spaces for the most intimate of gatherings to more formal soirees. Enjoy the Frank Lloyd Wright inspired designer finishes from the 2-Story Great Room the the Gourmet Kitchen with Hearth Room or the custom finished lower level.

For a private showing, please contact us at 952.470.2575 or visit http://www.staffordfamilyrealtors.com/ for more information.

For Sale: 4BR/4BA Single Family House in Excelsior, MN, $799,900

Another Exceptional Home in Longacres

Presenting another Longacres Gem from Stafford Family Realtors

7122 Harrison Hill Trail

Chanhassen, MN

This Longacres gem is sited on the coveted Harrison Hill Trail. Nestled on a .5 acre lot with a side walkout and covered with mature trees, this home offers a Gourmet Kitchen, Main Floor Office and a professionally finished lower level with Billiards Room, Wet Bar, Media Room and Sitting Room. Please contact us today for a private showing or visit our website at StaffordFamilyRealtors.com for more informaiton.

For Sale: 5BR/3+1BA Single Family House in Chanhassen, MN, $599,000

Presended by Eric & Sharla Stafford
Stafford Family Realtors
952.470.2575

New To Market & Better Than New Construction

Welcome to 15710 57th Avenue North

located in the demand Woodcrest of Plymouth neighborhood.

This beautiful home offers stunning living spaces and an open floor plan. Enjoy the gourmet Kitchen with granite, stainless steel appliances and custom painted center island. Other upgrades include a Jack-and-Jill bath, private guest suite, private Master Suite and main floor office.

For Sale: 4BR/4BA Single Family House in Plymouth, MN, $485,000

For a private showing, please contact Eric & Sharla Stafford at 952.470.2575.

To check out more of our listings, please visit StaffordFamilyRealtors.com.

9 TIPS TO SELL YOUR HOME

I saw this on the Today Show yesterday and it’s great information and very worth sharing! Barbara Corcoran is an expert but sometimes just too focused on what works in New York, not the rest of the nation. This really applies to sellers everywhere! Enjoy!

9 TIPS TO SELL YOUR HOME – by Barbara Corcoran

There is a smart way and a not-so-smart way to get the best price for your home in the new year. Selling is both a price war and a beauty contest, and to win both you should check these nine tips.

We talked about five tactics on TODAY, and I promised you a more complete list online.
Here it is:

1. Time it right

Wait a few more weeks to put that "for sale" sign in front of your home. Few houses sell until after Super Bowl Sunday. If your house has been on the market for more than four months, take it off the market and re-list it in two months as "new."

2. Price it at exactly what it’s worth

The most influential factor in selling a home is always price. Don't build "wiggle room" into the asking price. There's a price war out there and you have to win it from the get-go. Shop the competition to see what similar homes are selling for and price your home 10 to 15 percent lower so it's the first house shown. Or you can get price estimates from three good brokers and go with the lowest. If you've overpriced your home, then make one big reduction. The worst thing you can do is make a series of small price reductions along the way — it's the equivalent of chasing the tide as it rolls out.

3. Get your home inspected before you list

Don't wait for the would-be buyer to discover the problems you could have fixed before selling. When they're discovered, buyers will just move to the next house or rack up reasons to expect price cuts.

4. Offer financial incentives up front

Don't wait for the negotiations to throw in extra price incentives — offer them up front. Offer to pre-pay the first year of property taxes, pay closing costs, include free cleaning, lawn care or snow-removal services for a year. If you're moving and have no place to put your money, the best incentive out there today is "seller financing." Make sure to put your incentives front and forward in the listing information.

5. Wage war online

A whopping 89 percent of buyers start their home search online. How your house looks online is the modern equivalent of "curb appeal." Rent a wide-angle lens and good lighting, get rid of your clutter and post at least eight great photos to win the beauty contest.

6. Use the best broker

The top 10 percent of sales agents generate 90 percent of the sales and they're the ones most likely to sell your home. To find a smart broker, go to a reputable firm and ask the sales manager for a broker in the top 10 percent.

7. Spend money on the three key spaces:
• The front of the house
• Buyers decide in the first eight seconds of seeing a home if they're interested in buying it. Get out of your car, walk in their shoes and see what they see within the first eight seconds. Edge your lawn, mulch your flower beds, trim your bushes, steam clean your driveway and paint your door and trim.
• The living room
• Get rid of ALL your clutter, including a third of your furniture. Paint the walls a neutral white and add touches of color. If you can afford to stage one room, this is it.
• The kitchen
• Invest in cheap expenses like changing the cabinet fronts, new lights and fixtures, new knobs and drawer pulls, installing a chic new backsplash, resurfacing the floors and getting one new, fancy-looking appliance.

8. Lighten your house

After location, light is the second-most cited reason buyers choose a particular house. Paint the inside walls white, clean the windows, trim back shrubs and trees, replace heavy drapery with sheer curtains or shades, put sheer white shades on your lamps and higher-wattage bulbs.

9. Stage your home

The typical cost of staging a house is $1,500. If you can't spend the money, visit more expensive model homes in your area and try to mimic the look. It's what today's buyers want.

New School Boundary Map vs. Your Home Values

Another Step away from Democracy: The New Eden Prairie School District Boundary Maps

And it means over 1,065 children will be going to different schools next fall. This follows the school board’s 4-3 vote last month which approved these changes.

The goal was to reduce the disparity between low-income students at Forest Hills Elementary and the more affluent population of students at Cedar Ridge. Hundreds of Eden Prairie parents opposed the plan but they clearly haven’t been heard.

As a Realtor, it’s always “location, location, location” and School Districts are the primary driver of where most families choose to relocate. Both relocation and local buyers define their search parameters by School Districts. Strong School Districts help to maintain strong housing values – they just go hand in hand.

So, what message is the Eden Prairie School Board sending to their District? What does this mean for parents that have worked hard so they can buy a home in a neighborhood where their children can walk to school - only to have their children bussed out of their neighborhood to a school outside of their community?

I can’t imagine how it would feel to have moved to Eden Prairie a year ago and purchased a home in a neighborhood where your children can walk to school, only to be told a year later, that your children will not, in fact, be going to that school. What is a parent to do?

It sounds like the Eden Prairie School Board is more interested in serving the needs of the low-income families in their District than the needs of the families that have a higher income. A higher income typically translates to higher property values, and higher taxes. Does this make any sense?? The families footing the majority of the tax base in District 272 are the families that haven’t been heard – they have been ignored. What is happening here?? Couldn’t the Board come up with a solution that would serve the needs of all the families in the District?

I like to find the silver lining in challenging or discouraging situations – but I’m just not seeing it here. District 272 has stripped the parents of their choice of which elementary school their children will attend . . . that just doesn’t seem right to me – it doesn’t sound like freedom or even sound American to me….it sounds like socialism. I don’t like it and I don’t even live in the District and according to news reports, there are hundreds of parents in District 272 that don’t like it either.

To see a map with the new boundaries, go to http://www.blogger.com/www.StarTribune.com.

New to Market ~ 10566 Spyglass Drive, Eden Prairie

Presenting another Exceptional Home from Stafford Family Realtors:

10566 Spyglass Drive

Eden Prairie, Mn 55347

For Sale: 4BR/3BA Single Family House in Eden Prairie, MN, $389,900

New to market, this stunning one owner detached townhome offers main-level living at its best in a perfect location close to downtown Eden Prairie. Enjoy a Gourmet Kitchen, Great Room floor plan & a vaulted main-level Master Suite.

Open Tuesday, January 11, 2011 11:00-2:00!

For Sale: 4BR/3BA Single Family House in Waconia, MN, $333,000

Presenting another Exceptional Home from Stafford Family Realtors!

1604 Manchester Place
Waconia, MN 55387

For Sale: 4BR/3BA Single Family House in Waconia, MN, $333,000

Only available due to relocation, this stunning one owner home shows better than new construction. Enjoy maple mill work throughout, a Great Room floor plan, main floor Office and spacious Kitchen. All situated on a spacious .43 acre lot in the demand neighborhood of Oakpointe. Don't miss out on this great opportunity!

Great News for the Real Estate Market this week

MAAR’s Weekly Market Activity Report – Pending Sales Up 10% Over Last Year

Remember the week ending May 1? The weather was considerably warmer, there wasn’t more than two feet of snow on the ground and the optimism was high surrounding our professional sports teams. Things change.

That fateful week in May was also the last time our market recorded a year-over-year increase in weekly pending sales…until now.

For the week ending December 3, there were 606 pending sales, an increase of 10.0 percent from the same week last year. That’s the first year-over-year increase in 30 weeks. Whether this positive trend continues will depend upon job growth and other economic factors, but this small sign of hope is nice to see in December.

On the opposite end of the spectrum, new listings are consistently not matching last year’s marks — a welcome sign in this era of high supply. The 1,081 new listings for the most recent week is a decline of 13.8 percent from last year’s pace and marks the 11th week of the last 13 to post a year-over-year decline.

For the full market report visit

http://www.mplsrealtor.com/downloads/market/WMAR/wmar.pdf


MAAR Weekly Market Activity Report is information from the Minneapolis Area Association of REALTORS

Staging Works!

Before I even had a chance to tell you about our wonderful new listing on 2345 Sheridan Terrace in Minnetonka, we SOLD it!

This amazing home was previously listed with another agent and our sellers came to us asking what we could do for them. After deciding to work with Stafford Family Realtors, Sharla conducted a staging appointment and gave the sellers some pointers to get their home ready for market. Not only did a few minor staging items make a huge difference, we sold the home in 4 DAYS!

In a Buyer’s Market, first impressions are extremely important. Having your home prepared for market and staged to appeal to the largest group of buyers will distinguish your home above the competition. The proof is in the numbers: Staged homes sell 15% faster and for 17% more money.

The first suggestion she made was to paint the living room and kitchen. Take a look at these before and after photos.

Many different color paints on the walls can be shocking for buyers when they enter a room. Tone it down with more neutral colors. Pottery Barn offers free color books that have some great color options.


If you would like more information on staging or any suggestions, please feel free to visit StaffordFamilyRealors.com and contact us today! We know what it takes to get homes sold!

Great Minnesota Fall Drives - Are you a leef peeper?

by Linda (minnemom) of Travels with Children

These crisp fall days are perfect for a fall drive and the fine spectator sport of “leaf-peeping.” If you’re up for a tour of the fall colors in Minnesota, consider these destinations:

Split Rock State Park
The North Shore Drive, north of Duluth along the shores of Lake Superior. The leaves were just starting to turn when we were there at the end of September. Combined with the views of Lake Superior, there are some spectacular sights to see. If you want to go beyond driving and see the leaves close-up, stop at Gooseberry Falls State Park or Split Rock Lighthouse and take a walk in the woods.

Fall Colors at Historic Forestville
Southeastern Minnesota. We were in the Preston area last weekend, and the colors were beautiful. Check out the paths near Historic Forestville, or find a gravel road and wander around for a while.
The Minnesota River Valley. Follow the Minnesota Scenic Byway for some beautiful views in the river valley. I saw a beautiful combination of green, yellow, and bright red there yesterday. For a great lookout point, climb to the top of Hermann Monument in New Ulm (check for fall hours).
Find your own: Check out the Minnesota DNR’s Fall Color Reports to see where leaves are at their peak color.

If you have your kids along, find a park and let them play in the leaves. Find some that are interesting. Make a pile and jump in with them. Then find somewhere to stop for a cup of hot chocolate on the way home.

Fall is the perfect time to get off the highways and enjoy the back roads. The combination of blue skies, crisp fall air, and beautiful fall colors is hard to beat.
Do you have a favorite fall drive, in Minnesota or elsewhere?Read more: http://attractions.uptake.com/blog/beautiful-fall-drives-in-minnesota-184.html#ixzz111apZZJg

Great New Listings!!!

1735 Carriage Drive, Victoria
$550,000
MLS: 3971695
Priced below market & loaded with designer amenities! Enjoy special features such as a Main Floor Office, 3 Fireplaces, a Gourmet Kitchen with extensive Granite countertops, Butler's Pantry & large Walk-in Pantry. Newly complete the professionally Lower Level with a 5th Bedroom, full service wet bar Bar & Family Room!


2012 Amberg Court, Chaska
$374,900
MLS: 3971239
This beautiful former model home features a spacious floor plan & stunning finishes including walnut floors, soaring vaults, gourmet kitchen & main floor office. Perfectly located and offering easy access to shopping, restaurants, schools and the new 212 Medical Center.



5105 Hooper Lake Road, Deephaven
$345,000
MLS: 3973860
Nestled on a beautiful, private lot in desirable Deephaven & the award-winning Mtka School District! This beautifully remodeled home has been totally updated from pillar to post including all tiled baths, hardwood floors, and new Stainless steel Appliances!

For more information on these listing or to check out all our listings, please visit StaffordFamilyRealtors.com.

Return on Investment?

The return on that investment comes in two forms. First, you live in the house and so it provides you with a real flow of valuable services. The second part of the yield on investment is the capital gain you receive if the home appreciates and you sell. Gains are excluded from taxation if the property is a primary residence and the gain is less than $250,000 for a single filer or $500,000 for a married couple filing jointly.

Do the math. Four years ago, the monthly payment on a $300,000 house with 20% down and a mortgage rate of about 6.6% was $1,533. Today that $300,000 house would sell for $213,000 and a 30-year fixed-rate mortgage with 20% down would carry a rate of about 4.2% and a monthly payment of $833. In addition, the down payment would be $42,600 instead of $60,000.