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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310 S 4th Street Unit 806 Phoenix, AZ 85004

$599,995

2 Beds

2.5 Baths

1,426 SqFt

Status Active Under Contract

MLS # 6761931

Property Type Apartment

Price Type --

Sold out pre-construction because of its desired NE corner lot location with 180° views from City lights to NE Valley Mtn and ballpark! Splitmaster layout featuring floor to ceiling aluminum frame windows, powder rm, laundry rm and 230/ft wrap around balcony. Other features; engineered wood floors, granite kitchen w/bar overhang, Viking appliances. Freshly painted top to bottom and new carpets in bedrooms. HOA includes Cox Internet, water, sewer, trash, storage with other amenity conveniences such as, 24-hr desk/guard, 24 hr fitness center w/dry spa, locker rm, rooftop terrace clubhouse w/fire pit, heated 5th floor pool/hot tub and much more.. 806 comes with two full size side-by-side parking located steps from elevator door!

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31711 N 164th Street Scottsdale, AZ 85262

New

$599,995

3 Beds

2 Baths

1,492 SqFt

Status Active

MLS # 6787022

Property Type Manufactured Home

Price Type --

YES! IT HAS WATER!! Discover the perfect blend of tranquility and functionality on this stunning 2.5-acre horse property in the heart of the Rio Verde Foothills. Boasting breathtaking views of Four Peaks, this property is a slice of desert paradise with ample room to bring your vision to life. Offering a tack shed, chicken coop, two storage sheds, and even an outdoor shower, the possibilities are endless and the memories to be made are abundant! Equipped for equestrian enthusiasts, it features a mare motel, round pen, and turnout space, offering everything you need to care for and train your horses. With the best of Arizona's natural beauty as your backdrop, this property is ready for your personal touches—whether you dream of creating a ranch-style haven, expanding its existing amenities, or building your ideal retreat. Don't miss this opportunity to own a piece of the Rio Verde Foothills lifestyle!

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21889 E Saddle Court Queen Creek, AZ 85142

$599,995

3 Beds

2.5 Baths

2,260 SqFt

Status Active

MLS # 6731563

Property Type Single Family Residence

Price Type --

Explore this eye-catching Townsend home, ready for quick move-in! This plan boasts 3 bedrooms, 2.5 baths, formal dining room, 3-car garage, and a welcoming covered porch. There is a private study off the foyer with an open-concept great room with a multi-sliding glass door. The breakfast nook flows into a gourmet kitchen boasting white cabinets, quartz countertops, a center island and a walk-in pantry; The primary suite showcases a generous walk-in closet.

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106 N Lariat Way Payson, AZ 85541

$599,995

4 Beds

3 Baths

3,407 SqFt

Status Active

MLS # 6760660

Property Type Single Family Residence

Price Type --

Unbelievable find for UNDER $200 PER SQUARE FOOT! This is a multi-generational house with no HOA, oversized bedrooms, and travertine flooring. You need to see this home! Fantastic 4 bed, 3 bath, 3407 square foot home at the end of a cul-de-sac in a desirable neighborhood within a mile and a half of the high school, middle school, and Rumsey Park. Freshly painted 2-level home with dueling open concept great rooms, suitable for separate living areas or an unbelievable party room. One on the 3-bedroom upper level, with a split floor plan, and one on the lower level, with a bedroom, kitchenette, and 3/4 bathroom. Both levels featuring updated Trex outdoor living areas. Investors welcome! This home offers countless opportunities. Come and see today!

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3929 W Talc Drive San Tan Valley, AZ 85144

Open House

$599,995

4 Beds

3.5 Baths

2,668 SqFt

Status Active

MLS # 6768174

Property Type Single Family Residence

Price Type --

This home is luxury single-level living at its finest. The bright foyer sets the perfect mood, offering plenty of natural light and flowing effortlessly into the rest of the home. A well-appointed kitchen boasts KitchenAid stainless steel appliances, beautiful cabinets, and a huge walk-in pantry. The casual dining area is adjacent to the kitchen, providing a convenient and intimate setting. The great room is the perfect setting for relaxation and entertaining with natural light. Roomy secondary bedrooms offer ample closet space. The primary bedroom suite is tucked away for a more intimate, private setting. A luxurious primary bathroom that boasts dual sinks, large bathtub, private toilet area and large walk-in closet. A sliding glass door leads to a luxury outdoor living space.

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11450 E Utopia Avenue Mesa, AZ 85212

$599,990

4 Beds

3.5 Baths

2,800 SqFt

Status Active

MLS # 6785998

Property Type Single Family Residence

Price Type --

''Welcome to this stunning 4 bedroom, 3.5 bathroom home with 2 dens located in the East Valley's newest community, Destination at Gateway! Step into the spacious home with 10-foot ceilings, adorned with elegant 8-foot interior doors and 4 1/4 inch baseboards. The home boasts 6 x 36'''' wood look tile in main areas, exuding a sense of luxury and warmth. Prepare exquisite meals in the gourmet kitchen, featuring a 36-inch gas cooktop and canopy hood, complemented by beautiful 42-inch white shaker cabinets with cabinet hardware. The kitchen dazzles with quartz countertops, a stylish kitchen backsplash, an Undermount sink, and a sleek matte black faucet. The bedrooms offer a peaceful retreat, while the bathrooms showcase upgraded lights and elegant matte black faucets. This home is a testament to modern elegance and attention to detail, offering a harmonious blend of style and functionality.

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2220 W Chisum Trail Phoenix, AZ 85085

$599,990

3 Beds

2.5 Baths

1,846 SqFt

Status Active

MLS # 6786825

Property Type Single Family Residence

Price Type --

Located across from Heirloom Park, welcome to this beautifully designed Papago plan, offering 1,846 square feet of luxurious living space. With its charming Craftsman exterior elevation and inviting covered entry paved with elegant pavers, this home is designed for both style and comfort. The heart of this home is the stunning kitchen, featuring stainless steel GE Cafe appliances which compliment the white painted shaker cabinetry on perimeter and on the kitchen island. All is accented by stylish champagne bronze cabinet hardware which perfectly complements the 42'' upper cabinets and 3'' crown molding. Enjoy the beauty of Hana Sky colored Della Terra Pilar countertops, and a contemporary white mosaic backsplash. The large single basin stainless steel sink, paired with a Moen Align matte black kitchen faucet, adds both functionality and style. Retreat to the luxurious bathrooms featuring white painted shaker cabinets, white cultured marble countertops with rectangular sinks and Moen Gibson matte black premium 8 widespread faucets. Upgraded Meridian brass vanity lights illuminate your space. The Dal Tile Vicinity 6x36 Natural wood look tile flows seamlessly throughout the downstairs and into bath 2 and the laundry room upstairs. The primary bathroom showcases exquisite Paros Whie Hex 14x16 tile, providing a spa-like experience. Upstairs, a tasteful paint grade mission stair rail and is complimented by plush Shaw Kennfield carpet in the shade Ecru adding warmth and comfort, all trimmed with upgraded 4 ¼ baseboards. Throughout, the 8' interior doors adorned with matte black door hardware throughout, adding a touch of sophistication. The side yard is perfect for entertaining, featuring a convenient gas stub for a BBQ, making outdoor gatherings a breeze. This home also includes a soft water loop and electric car charger package for added convenience. Located in Union Park at Norterra this home offers not just a living space, but a lifestyle. Don't miss the opportunity to make this your forever home! Tree-lined streets, pedestrian-friendly sidewalks and a 5,500 sf recreation center with resort style pool an kiddie pool, shaded ramadas, parks, gathering areas, pickelball courts and basketball. Close to I-17, 101 and 303. Walking distance to restaurants, movies, entertainment and shopping.

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2991 N 200th Drive Buckeye, AZ 85396

$599,990

4 Beds

3 Baths

2,598 SqFt

Status Active

MLS # 6783432

Property Type Single Family Residence

Price Type --

Ask about special financing with preferred lender. This single-level home features an attached private suite with its own entrance, living room, kitchenette, bedroom, bathroom and garage. The main home offers a den off the foyer, an open living area and two bedrooms, including the lavish owner's suite with a spa-inspired bathroom and walk-in closet. Photos are renderings of a model home, not the actual home. A public report is available on the Arizona Department of Real Estate website.

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3035 W Thurman Drive Laveen, AZ 85339

$599,990

4 Beds

2.5 Baths

2,628 SqFt

Status Active

MLS # 6742953

Property Type Single Family Residence

Price Type --

This beautifully upgraded single-story home offers 9-ft. ceilings and an open concept, split floor plan. The modern kitchen features 42-in. upper cabinets, a large center island with pendant light pre-wiring and sleek quartz countertops, a walk-in pantry, and Whirlpool® appliances - including built-in microwave, electric range, and French-door refrigerator. You'll find stunning vinyl plank flooring throughout common areas and plush carpet in the bedrooms. The private primary suite includes an oversized closet, and the primary bath boasts a walk-in shower, dual-sink vanity with modern square sinks, and an enclosed water closet. This home also includes a 40-gal. gas water heater and A/C unit with Wi-Fi-connected ecobee smart thermostat.

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7617 W Smoketree Drive Peoria, AZ 85383

$599,990

3 Beds

2.5 Baths

1,953 SqFt

Status Active

MLS # 6751349

Property Type Single Family Residence

Price Type --

Brand new community in North Peoria! This stunning single story home offers 1,953 sq ft of functional living space. It features 3 bedrooms, 2.5 bathrooms, den, and a 2 car garage. The open concept kitchen is perfect for entertaining and features an Island, a walk-in pantry and stainless steel appliances. It also offers our Harmony Palette which includes gray painted 42'' cabinets, slate gray quartz kitchen countertops, 4x8 kitchen backsplash, and 6x24 wood looking plank tile in all the common areas. The great room offers a 4-panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. The primary suite has a spacious walk-in closet, double sinks, walk-in shower, and an additional linen closet for extra storage. This home also features a paver driveway, 8 foot interior doors, soft water loop and much more! Great location close to dining, freeways, parks, and entertainment!

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31953 N 117th Avenue Peoria, AZ 85383

$599,990

3 Beds

2 Baths

1,921 SqFt

Status Active

MLS # 6755502

Property Type Single Family Residence

Price Type --

It's the beautiful Clover in the beautiful community of Mystic. 3 bedrooms + flex space to use as you wish. Multi slide door that leads out to the covered patio. Large walk-in shower at owner's bath with tile. Stainless steel gas appliance package with 36'' cooktop, wall oven, microwave, glass canopy hood. Barnett Maple Latte cabinets with 42'' kitchen uppers, pull out trash drawer. AZT Ripieno quartz countertops in kitchen and both baths. Mohawk REV wood laminate Casita court in all areas except beds/closets. Amenity Rich Mystic includes a Resort Style community pool, Rec center with year-round events, Hiking paths & community parks. The perfect location- close to shopping, restaurants, golf, Lake pleasant and the loop. PICTURES ARE FROM THE CLOVER MODEL HOME.

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11465 E Utopia Avenue Mesa, AZ 85212

$599,990

3 Beds

2.5 Baths

2,506 SqFt

Status Active

MLS # 6776944

Property Type Single Family Residence

Price Type --

''Stunning 3 bedroom home with seperate Den and 2.5 Baths, located in the East Valley's newest community, Destination at Gateway. Discover this inviting home featuring a 4 Panel Center siding glass door off the great room, seamlessly connecting indoor and outdoor living. The kitchen boasts stainless steel appliances, including a 36-inch gas cooktop, built-in wall oven and microwave, along with gray shaker cabinets adorned with stainless steel hardware and a convenient trash pull-out. The quartz countertops and stunning kitchen backsplash add a touch of elegance to the space. Throughout the home, 8-foot interior doors with upgraded satin nickel door hardware create a modern, cohesive feel. The main areas are adorned with 6x 36'' wood-look tile and 4 1/4-inch baseboards, providing a stylish foundation for the home. Bathrooms feature upgraded vanity lights and brushed nickel bath faucets, while the primary bathroom offers an enlarged shower and a separate soaking tub for relaxation. With 10-foot ceilings, an oversized laundry room, a separate valet area at the garage entrance, and a paver driveway, this home is designed to offer both luxury and practicality, providing a comfortable and stylish living space for you and your family.

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