Very well kept 3 Bed, 2 Bath manufactured home located desirable Berryman’s Branch in Vineland, NJ, New Jersey. Located just about 50 minutes from the Jersey shore and about the same to get to Philadelphia. Easy access to New York.
The large and bright kitchen is loaded with cabinets for storage and the seller is offering all appliances to be included in the sale. Separate dining area for family meals. Nice size family room for relaxing. Plus a large addition that can be used for whatever your family needs.
Laundry and hallway offer extra closet space. Master suite is huge and has 2 closets, one being a nice size walk in. Plus a full bath with soaking tub, a shower and dual vanities. Very tastefully done, this space is perfect to relax and unwind.
KThis community is just minutes from major shopping and makes the location great.
A friendly community, this park also offers a clubhouse, a community center with kitchen, a library, a playground, a pool and an RV and boat storage area. Lot rent includes taxes, water, sewer and trash.
Nothing to do here but move right in. This home wont last. Call today to schedule a tour. Seller says make an offer.
Historically speaking, that inflation fighting playbook is particularly hard-felt in the housing market, where spiking mortgage rates can quickly price out homebuyers. That’s already starting to happen. On Thursday, the average 30-year fixed mortgage rate hit 5.11%—up from 3.11% in December. A borrower who took out a $500,000 mortgage at a 3.11% rate would owe $2,138 per month. At a 5.11% rate, that monthly payment on a 30-year mortgage spikes to $2,718.
While the swift move up in mortgage rates is undoubtedly putting downward pressure on the housing market, it doesn’t mean home prices are about to crash. In fact, every major real estate firm with a publicly released forecast model, including Fannie Mae and Zillow, still predicts home prices will climb further this year.
To better understand which regional housing markets might see a price decline, Fortune reached out to CoreLogic. The California-based real estate research company provided us with its assessment of close to 400 metropolitan statistical areas.
CoreLogic, which ranks No. 952 on the Fortune 1000, put housing markets into one of five categories based on the likelihood that home prices in that particular market are to fall over the coming 12 months. Here are those groupings:
Elevated: Over 40% chance of a price dip
High: 30–40% chance
Medium: 20–30% chance
Low: 10–20% chance
Very Low: 0–10% chance
Among the 392 regional housing markets that CoreLogic measured, it puts 86% into the “very low” or “low” likelihood of a price decline. It put 10% of markets into the “medium” grouping and 1% in the “high” grouping. Meanwhile, CoreLogic places only 2% of markets into the “elevated” group. The markets in the elevated grouping—the highest odds of a price correction—include Hartford; Kalamazoo; Lewiston, Maine; Mount Vernon, Wash.; Muskegon, Mich.; Olympia, Wash.; Salem, Ore.; and Honolulu.
Even in the face of soaring mortgage rates, CoreLogic still thinks the chances of prices declining in 2022 are fairly low.
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