3 Questions to Ask If You Want to Buy Your Dream Home

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place? 

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:

• A good place to raise children and for them to get a good education
• A place where you and your family feel safe
• More space for you and your family
• Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in December (the latest data available) was $232,200, up 4.0% from last year. This increase also marks the 58th consecutive month with year-over-year gains.

If we look at the numbers year over year, CoreLogic forecasted a rise by 4.7% from December 2016 to December 2017. On a home that costs $250,000 today, that same home will cost you an additional $11,750 if you wait until next year.

What does that mean to you?

Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), the National Association of Realtors, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.  Give me a call for some professional advice – J.P. Cook – 602-320-4253.

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2719 E Sourwood Drive Gilbert, AZ 85298

$669,900

4 Beds

3 Baths

3,292 SqFt

Status Active

MLS # 6764852

Property Type Single Family Residence

Price Type --

This approximately 3200 square foot home features four bedrooms and three bathrooms. The spacious layout offers abundant natural light and a neutral color palette throughout, complemented by brand new carpet and tile flooring. The kitchen is equipped with ample cabinetry and modern appliances, providing a functional and inviting cooking space. The home boasts a tranquil setting, with a serene lakefront park and lush landscaping surrounding the spacious outdoor area. The extended covered patio and expansive yard create an ideal environment for relaxation and leisure, with mature shade trees enhancing the natural ambiance. The interior spaces include several generously-sized rooms, a loft, and den, each featuring ceiling fans to promote air circulation and comfort. The vibrant community and desirable neighborhood surrounding the property offer a serene and welcoming atmosphere, catering to a variety of lifestyle preferences. Easy freeway access and close to shopping, dining, and the new Gilbert Regional Park.

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18172 W Devonshire Avenue Goodyear, AZ 85395

$669,900

4 Beds

2.5 Baths

2,322 SqFt

Status Active

MLS # 6751190

Property Type Single Family Residence

Price Type --

Sedella is an RV friendly community where toys are welcomed. This 4-bed, 2.5-bath semi custom home features: PAID OFF SOLAR, BRAND NEW Trane A/C unit installed and OWNED HALO 5 water filtration syst.,Freshly painted inside and out, front & backyard pavers, custom RV gate, Chef's Kitchen Appliances(Thermador), granite counters, oversized island. Great Room offers an outstanding view to the backyard with custom automated shades. Primary Suite has walk in shower & separate vanities. Split Floor plan,vinyl plank flooring in all the right places. Take in the mountain views from the oversized backyard. Enjoy the real grass, beautiful palm trees and evenings sitting around the fire-pit. Mini split in 2 car garage. Custom cabinetry and freshly painted walls in both garages.

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3981 N 155th Avenue Goodyear, AZ 85395

$669,600

4 Beds

3 Baths

3,401 SqFt

Status Active

MLS # 6755011

Property Type Single Family Residence

Price Type --

Exiced to introduce the GEM of pebblecreek subdivision to public. This nice floor offers 3401 square feet with 4 bedrooms and 3 bath. Formal dining room, Office room, fireplace, 3 car garage, oversized laundry with state of the art design. Complete renovation done to the house with licensed contractor. House is completely redone from top to bottom.

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8732 S Sun Quail Terrace Hereford, AZ 85615

$669,500

5 Beds

3 Baths

3,023 SqFt

Status Active

MLS # 6452313

Property Type Single Family Residence

Price Type --

To be built. Construction will begin with contract to start. This is your opportunity to have a custom home built and still have the availability to pick out your homes finished look. Home is located in the beautiful Three Canyons area in the Covey Run subdivision. Mountain Views and scenic living all around.

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2336 N Salem Street Mesa, AZ 85215

$669,500

3 Beds

2 Baths

1,907 SqFt

Status Active

MLS # 6784472

Property Type Single Family Residence

Price Type --

Golf course home, backs to golf course with view of lake/water feature. Being offered at a great price including furnishings. Site built home, tile roof and stucco exterior. Popular great room plan, with 3 Bedroom, 2 baths, over-sized garage with separate golf cart garage door cabinets and natural light. Large, open kitchen with island, lots of cabinets, Corian counter tops, white appliances. You'll be amazed at the large windows, natural light and views of the water, golf course and colorful sunsets. Ceramic tile flooring throughout except, master and guest bedroom. Vaulted ceilings, recessed lighting and more. Large covered patio (over 42' long) plus expandable awning system for additional shade. Lovely community facilities and club house.

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13345 W Junipero Drive Sun City West, AZ 85375

$669,500

3 Beds

2 Baths

1,904 SqFt

Status Active

MLS # 6765453

Property Type Single Family Residence

Price Type --

Extensively updated & move in ready w/an abundance of outdoor living space. Stunning golf course San Marco in Corte Bella will bring your perfect lifestyle dream to a reality. Neutrally painted split three-bedroom floor plan is open to entertaining w/its extra-large quartz island overlooking the living room, fireplace & dining area. Lush landscaped front yard leads to an extended pavered courtyard featuring an iron entry gate & security screen door. Enjoy the outdoors year-round in your fenced backyard w/illuminated travertine patio, designed by Arizona Rainfall, is an outdoor oasis w/a built in BBQ, 2 built in ceiling heaters, TV, 2 seating walls w/a view of the 13th fairway. This highly sought after North/South facing home is truly an indoor/outdoor living delight. THIS IS A MUST SEE! The kitchen features a deep granite sink, an abundance of maple cabinets w/pull outs & new GE French Door refrigerator. Plantation shutters & crown molding throughout! Newly renovated walk-in showers in both baths w/the primary featuring a garden tub set in a quartz decking w/deep shower seating. The spacious primary bedroom & large walk-in closet, finish off your private retreat. The four-foot extended 2 1/2 stall garage is full of built in storage, extra ceiling lights w/a security screen door on the walk out. This community includes all the amenities and lifestyle you deserve. Prestigious Corte Bella 45+ Guard Gated Community. Corte Bella is well known for their award-winning golf course, Pickleball Courts, Tennis Courts, 2 restaurants, 2 bars, gym, work out classes such as yoga, swimming pool, spa, sauna, and more!

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27247 N 73rd Lane Peoria, AZ 85383

Open House

$669,265

4 Beds

3 Baths

2,084 SqFt

Status Active

MLS # 6774082

Property Type Single Family Residence

Price Type --

Corner lot with no back neighbor and scenic views! Ready now! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Tamarron' floorplan features 4 full bedrooms with a study, 3 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of model home, options may vary-home is finishing final touches*

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32663 N Aris Drive San Tan Valley, AZ 85143

$669,245

4 Beds

3 Baths

2,888 SqFt

Status Active

MLS # 6762800

Property Type Single Family Residence

Price Type --

Gorgeous new single-story home on an oversized homesite in Bella Vista Farms. Loaded with designer selections, this home offers 4 bedrooms, 3 bathrooms, an attached 3 car garage, and a 8' RV Gate. The extraordinary kitchen features a Monogram 36'' gas cooktop with double ovens, Della Terra Quartz kitchen counters in New Venatino Beige, and extended cabinets at the dining room. Other highlights include Aristodraft Maple Cabinets in burlap with soft close doors and drawers, a frameless walk-in shower at the primary suite with a Rain can shower head, 24'' x 24'' tile, upgraded carpet, split bedrooms, and an iron entry front door. Utilities include: Mesa Gas, Epcor Water Sewer, and Rural Metro Fire.

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18235 E Coronado Cave Court Rio Verde, AZ 85263

$669,000

3 Beds

2.5 Baths

1,678 SqFt

Status Active

MLS # 6674813

Property Type Single Family Residence

Price Type --

Unobstructed Views of the Majestic Four Peaks whether you step in or out of this highly upgraded Brand New Valletta Model at Trilogy. This 3 bed, 2.5 bath cul-de-sac residence has beauty and privacy with no neighbors at the back or the unattached side. The gourmet Grey/white kitchen boasts a stunning large Quartz Waterfall Island with a breakfast bar and equipped with built in SS Monogram wall appliances with an electric cooktop and a pantry. The upgraded stacked slider doors in the Great room opens to an extended patio, complete with an upgraded pergola and extended pavers. The Primary bedroom with a walk in closet, custom tiled master bath thoughtfully upgraded with a door for privacy. Brand New Washer Dryer and the lock and leave home comes with the builders Warranty too.

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23906 S Sunland Court Sun Lakes, AZ 85248

$669,000

2 Beds

2.5 Baths

2,151 SqFt

Status Active

MLS # 6764544

Property Type Single Family Residence

Price Type --

The Paloma model is a stunning 2-suite 2.5-bath home with custom closet built ins, offering 2,151 sqft of open living space and a 2.5-car garage with plentiful room for your golf cart. It is situated in the highly sought after Oakwood community within Sun Lakes. Dedicated to active adults, this home is part of a vibrant retirement destination. Residents can enjoy lunch or dinner at the 'Stone and Barrel,' on ground's restaurant, watch the game on the 25 televisions at the Ironwood Grill, or just relax with a drink while watching the sunset over the lakes at the various eating establishments all within the Sun Lakes community. Surrounded by mature landscaping, this community features 45 holes of golf, 10 lighted tennis courts, 10 pickleball courts, and a 25-meter lap pool, spa sauna, and fitness center personal training options. You'll also find scenic trails and walkways throughout the four different phases, over 100 clubs to partake in, and amenities for formal or informal gatherings. Making it a perfect spot for creating memorable events. The home itself sits on a wonderfully large landscaped quarter acre, (room enough for an additional casita) within a quiet cul-de-sac. It boasts a new roof replaced in 2023, new A/C units in 2023, new natural stone tiles, extra tall baseboards, granite countertops with stone backsplashes, and remodeled bathrooms. The generous laundry room includes a convenient sink, and cabinets for ample storage. A mirrored wet bar, cozy fireplace, and a spacious covered patio with an automatic retractable awning complete this elegant jewel. Perfect for entertaining or relaxing. Come home to this age appropriate oasis in the Valley of the Sun.

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12237 W Ashby Drive Peoria, AZ 85383

$669,000

4 Beds

2.5 Baths

2,476 SqFt

Status Active

MLS # 6765595

Property Type Single Family Residence

Price Type --

Welcome to this stunning single-level home on a corner lot in the highly sought-after Vistancia Village. This N/S exposure corner lot offers direct access to Vistancia's Discovery Trail. This 4-bed, 2.5-bath open floorplan features: 10-foot ceilings, wood shutters with invisible louvers, custom nooks, security-lock with mesh steel screen doors, ceiling fans, custom lighting fixtures and no carpet though out. The Chef's kitchen showcases the built-in SS appliances, oversized island, and beautiful Knotty Alder cabinets. The 4-car garage is equip with built in cabinets and a work bench. The single bay garage has a mini-split air conditioning unit, perfect for a home gym, art/hobby room or classic car! Host amazing parties in the professionally landscaped yard with resort style pool & landscaping and artificial turf. Take in the amazing Arizona sunsets while grilling at the built-in BBQ island or relaxing under the pergola. Rated the top master planned community several years in a row, Vistancia Village offers a lifestyle that includes pickleball, golf, 3 swimming pools, trails, parks, clubs and classes for all interests and a large offering of community events! Perfectly situated off the 303 freeway, enjoy easy access to shopping and dining!

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1717 N 1st Avenue Unit 217 Phoenix, AZ 85003

$669,000

2 Beds

2 Baths

1,275 SqFt

Status Active

MLS # 6770698

Property Type Apartment

Price Type --

The residence at artHAUS offers one of the only two distinctive floor plans. It features a split layout encompassing 1,275 sqft, 2 bedrooms/2 bathrooms, an open-concept design with high ceilings & abundant natural light. This unit comes with two parking spaces in a secured and enclosed parking garage, with one of the spaces equipped with a universal EV charger. Furthermore, the owner has implemented several elegant customizations to the unit, including the custom-designed staircase, the upgraded closet design & lighting system, a spacious kitchen island, backsplash, under-cabinetry lighting, upgraded toilets, & ceiling fans. artHAUS comprises 25 urban dwellings designed and developed by Jason Boyer, the recipient of the 2017 Builder's Choice & Custom Home Design Award Conveniently situated within walking distance of popular attractions such as the Phoenix Art Museum, Hance Park, and the ASU Downtown Campus, as well as some of the finest dining options in Phoenix, artHAUS prioritizes sustainability and energy efficiency. All units meet stringent Energy Star and LEED for Homes certification criteria. The building has a rooftop solar array that offsets 100% of the HOA power demand and enclosed parking garage facilities with electric vehicle charging stations available to residents.

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