House Hunt: Buy in Mendota Heights Area with 1951 Mortgage Rates

This September, mortgage rates dropped to the lowest point in 60 years. To give some perspective, here’s what was happening in 1951, the last time rates were this low:

1) The average cost of a house was $9,000, the average family income was $3,700, a new car cost $1,500, and gas cost $.19 a gallon.

2) There were 48 states in the United States.  

3) Humphrey Bogart and Katharine Hepburn took home Oscar’s best actor and actress for ‘The African Queen.’   

4) Soap operas ‘Search for Tomorrow’ and ‘Love of Life’ debut on TV.

5) The first direct dial telephone calls are made.

6) The term “Rock n' Roll’ is first used.  

7) "Come on-a My House" sung by Rosemary Clooney is the song most played on jukeboxes.

8) The US armed forces begin racial integration.

9) Power steering is introduced by Chrysler.

10) The first commercial computer, designed by St. Paul’s Univac, is delivered to the Census Bureau.

A 15-year conventional mortgage is currently 3.375 percent, a 30-year mortgage dropped to 4.0 percent and an FHA loan averaged 3.75 percent last week. This fall will be a perfect time for buyers to take advantage of these low rates by buying one of these Mendota Heights-area homes at a mortgage rate lower than when they were built.

House No. 1: #109 1101 Sibley Memorial Highway, Lilydale

Listed by: Re/Max Specialists

Price: $129,900

Taxes: $1,745

Association fee: $527

Description: High-rise condo; two bedrooms, two baths and 1,584 finished square feet. Sit on the three-season porch of this beautiful condo for beautiful views of the Mississippi River or walk out from the patio to the beautiful lawn and the river. This home offers lots of extras including a walk-in closet, exercise room, sunroom, den with built-ins, living room fireplace, and laundry. Shared amenities include tennis courts, sauna and hot tub, sunroom, exercise room, and party room. Association fees include these plus sanitation, snow removal, lawn care, water/sewer and security system plus parking.

House No. 2: 1106 Delaware Ave., Mendota Heights

Listed by: Valley Realty

Price: $195,000

Taxes: $2,131

Description: One and one-half story single family home; three bedrooms, two baths and 2,000 finished square feet. Beautifully renovated, built to be energy efficient, this is a home with the charm of the 1940s ready for the 21st Century. Includes hardwood floors, a cozy lower level,  stainless steel counters in the kitchen (just like the professionals), a living room with a wood-burning fireplace, a sunny porch and a patio in the back. The home, sitting on a corner lot and with lovely shade trees, is really cute and welcoming.

House No. 3: 2342 Swan Drive, Mendota Heights

Listed by: Keller Williams Integrity

Price: $320,000

Taxes: $3,022

Description: Split entry single family home; four bedrooms, two baths and 3,464 finished square feet. Newly remodeled throughout, this home has hardwood floors, two fire places, a large family room on the main level and a recreation room on the lower level. You’ll love the bright kitchen with windows everywhere, granite countertops, and stainless steel appliances. The home has a two-car attached garage and an office as well. Located less than a block from Roger’s Lake and near two other parks, or just enjoy the large back yard with deck, shade trees, porch and even a fire pit.

House No. 4: 182 Stonebridge Rd., Lilydale

Listed by: Keller Williams Integrity

Price: $389,900

Taxes: $3,426

Association fee: $350

Description: Side-by-side town home; two bedrooms, two baths and 1,740 finished square feet. This end-unit town home has top quality construction standards, with an elegant master suite,  modern Scandinavian kitchen with island, built-in sine rack, large cabinets and new stainless steel appliances. There are windows everywhere. The open floor plan brings the sun to almost every room of the house, but especially in the sunroom which leads to the secluded patio and fire pit. The master bedroom has a huge walk-in closet and the bathrooms have radiant heat, showers and a jetted tub. All of this is a private and gated community near both downtowns and near restaurants and shopping. The association fees include snow removal and lawn care. Pets are OK.

House No. 5: 172 Stonebridge Rd, Lilydale

Listed by: Edina Realty

Price: $637,500

Taxes: $6,326

Association fee: $350

Description: Twin home; three bedrooms, three baths and 3,357 finished square feet. Bright, open and spacious this beautiful home has an eat-in kitchen a formal dining room lots of kitchen counter space, a huge master suite with built-ins. A walk-in closet, a fireplace and a door to the deck. A great room with fireplace and vaulted ceiling and a foyer as large as most home’s living rooms. The sun room, the deck and the patio all overlook the peaceful pond. A stamped concrete driveway leads up to a three-car attached garage. The home also includes a central vacuum and an air-to-air exchanger. This is a gated community. Pets OK.