Daily Real Estate News | January 3, 2008

Christmas Holiday Slows Mortgage Business

The mortgage business was slow over the Christmas holiday week, even compared with the previous year, according to the Mortgage Bankers Association weekly mortgage applications survey.

The mortgage volume index decreased 11.6 percent to 533.9 on a seasonally adjusted basis compared to the previous week. It was down 20 percent compared with the same week a year ago.

The refinance share of mortgage activity decreased to 50.9 percent of total applications from 53.0 percent the previous week.

Also, mortgage rates were down:

30-year fixed-rate mortgages decreased to 6.05 percent from 6.10 percent.
15-year fixed-rate mortgages decreased to 5.61 percent from 5.66 percent.
1-year ARMs decreased to 6.00 percent from 6.03 percent.

Source: Mortgage Bankers Association (01/03/2007)

!!!SOLD!!! Affordable New Construction for Sale in Brookings, SD

1802 Torrey Pines Dr, Brookings, SD 57006

List #08-53

!!! SOLD!!!

Brookings, SD Real Estate
Brookings, SD Real Estate for Sale

List Price: $149,900

Why pay rent when you could afford to own a brand new home! Torrey Pines Drive is currently under construction and will feature quality homes starting at a base price of $149,900. Each home features a split foyer floor plan with 2 bedrooms and 1 bath on the main level. The lower level features a finished family room and space for the future finish of 2 more bedrooms and a bathroom! ACT NOW!

List Price: $149,900
Possession Date: TBD
Legal: Lot 8A, Block 9, Moriarty Fourth Addition, City of Brookings, County of Brookings, South Dakota
Realtor.COM Type: Residential Single Family

Descriptive Information
Area: Residential
Style: Split Foyer
Year Built: 2008
Stories: 1
Total SqFt.: 980
SqFt ML: 980
SqFt. LL: 980
SqFt LL Finish: 248
Total Finished SqFt: 1228 (approximately)
Taxes: 0
Tax Year: 2007
Garage Type: Attached
Garage Stall: 2
Garage Remarks: Opener Included
Total Bedrooms: 2
Total Bathrooms: 1
Total Full Baths: 1

Directions
Travel south on 17th Avenue S. Go past the 17th Ave S. & 12th St. S. intersection. Torrey Pines Dr. will be the first street on the East (left hand side) of the road.

For more information or to schedule a viewing of this property please call me, Justin Fjeldos, at (605) 691-1240 or email Justin@BrookingsHomes.com

This property is listed by David Kneip of Best Choice Real Estate, Brookings, SD.