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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2725 E Quiet Hollow Lane Phoenix, AZ 85024

Open House

$595,444

3 Beds

2 Baths

1,829 SqFt

Status Active

MLS # 6762893

Property Type Single Family Residence

Price Type --

Step into this stunning single-story home, where modern comfort meets the tranquility of Arizona's breathtaking landscape. Enjoy the peace of mind that comes with no neighbors behind you, allowing for unobstructed views of the serene desert vistas. As you enter, you'll be greeted by a spacious open floor plan, perfect for entertaining or cozy family gatherings. The abundant natural light enhances the inviting atmosphere, seamlessly connecting the living area to the heart of the home.The private backyard paradise, features both a beautiful pool and a covered patio. Whether you're lounging poolside or enjoying a quiet evening under the stars, this outdoor space is the perfect retreat.

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972 E Mulberry Place -- Chandler, AZ 85286

$595,000

3 Beds

2 Baths

1,292 SqFt

Status Active

MLS # 6638746

Property Type Single Family Residence

Price Type --

Charming 3 bedroom and 2 bath home in new Chandler community. Hamilton Landing includes 36 single level homes each with their own front porch, private driveway for 2 vehicles and a single car garage and a small, pet friendly rear yard. Each home has 10' flat ceilings, white cabinets, luxury vinyl plank flooring in every room, two tone paint, beautiful wood trim around windows and doors and granite/quartz countertops in the kitchen and baths. The community includes a dog park with a covered ramada. These homes will be ready for occupancy between March and June of 2024. All photos are of a similar home completed in a previous community.

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28409 N 451st Avenue Wickenburg, AZ 85390

$595,000

3 Beds

2 Baths

1,680 SqFt

Status Active

MLS # 6685093

Property Type Manufactured Home

Price Type --

Amazing off the grid Santa Fe style house located on 30 acres!! This beautiful 2016 manufactured home has great living spaces with tons of natural light, neutral colors, modern appliances, walk-in pantry and spacious rooms. Private well! The solar is owned outright and has batteries and a generator. The home also has propane gas for heating and cooking. Sitting on a hill it offers unparalleled views!! Also comes with covered corrals, tack room and storage area and entire property is fenced. This home is also listed with only 10 acres, at reduced price. See the semi-private remarks for details.

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41225 N 253rd Avenue Morristown, AZ 85342

$595,000

3 Beds

2 Baths

1,456 SqFt

Status Active

MLS # 6772930

Property Type Manufactured Home

Price Type --

Discover the perfect blend of modern living and western charm in this 2021-built home, situated on a sprawling 3.9-acre horse property in Morristown, AZ. With 3 bedrooms and 2 bathrooms, this home offers an open, inviting floor plan and mountain views from every angle. Horse enthusiasts will love the six spacious horse pens, all equipped with power and water supply, along with a convenient round pen for training. Enjoy serene evenings on the covered patio, taking in the picturesque surroundings. This property not only provides a tranquil rural lifestyle but also the opportunity for future development, as it can be split. Whether you're looking to expand or create a custom space, the possibilities are endless. Great opportunity to own a move-in ready home on prime horse property just a short drive from the conveniences of town!

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279 S Lyman Court Casa Grande, AZ 85194

New

$595,000

4 Beds

3 Baths

2,382 SqFt

Status Active

MLS # 6787541

Property Type Single Family Residence

Price Type --

''SMOKING HOT DEAL ON A STUNNING CUSTOM HOME W/ BRAND NEW HVAC, This Luxurious Custom 4 Bdrm/3 Bath/ 3 Car Garage Home is Situated on a Fully Block Fenced, Cul- De Sac, FLOOD IRRIGATED 1.25 Acre Corner Lot, In A Popular, Custom Home Only, Horse Friendly, Community w/ NO HOA & Just 6 Miles From the 1-10 Freeway & Shopping Mall! Boasting Gorgeous Mountain Views, Amazing Sunrises & Sunsets, As Well As A Gorgeous Desert Scaped Backyard w/ Extended Patio, & Upgraded Screen Covering That Shades The Perfect Play & Picnic Area (Accented w/ Turf) & Still Offering space for Livestock, Gardening, Tractors & Trailers, As It Also Has a Full Circular Gravel Drive w/ Room For a Workshop or Pool & PAID OFF SOLAR PANELS!

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23851 W Tether Trail Surprise, AZ 85387

$595,000

4 Beds

3 Baths

2,432 SqFt

Status Active

MLS # 6741026

Property Type Manufactured Home

Price Type --

Over 4 Acres of Horse Property with NO HOA. This beautiful home features a spacious floor plan with 4 bedrooms + den, 3 baths, (jack n jill bed/bath), front room, living room (with built in mini bar), dining room, & large kitchen with a sky light, lots of cabinets and an island. The master bath has separate shower and jetted soaking garden tub and double sinks. The den has a dual entrance to front room and the master bedroom (great for a private office or workout room) Also a detached 3 car garage and RV gate. Bring your horses, toys & RV's. 3 sheds out back by the covered horse stalls that are staying with the property. Enjoy country living and amazing views. This sale consists of 2 lots each is aprx 2 acres. Each lot has a share in the shared well. Don't miss out on this one.

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16846 W Molly Lane Surprise, AZ 85387

$595,000

6 Beds

5 Baths

3,029 SqFt

Status Active

MLS # 6772326

Property Type Single Family Residence

Price Type --

Rare opportunity in fast growing Surprise, Arizona - 2023 built Landsea home with **ATTACHED CASITA** complete with private entrance and exit perfect for renting, out of state guests, or multi generational living. Tired of waiting on long build times for new construction? This energy efficient, move in ready house is your solution! With over $75K in upgrades including chefs kitchen, luxury cabinetry, upgraded tile flooring, tons of Smart Home features and open concept layout, this will be the perfect place for gatherings and entertaining with plenty of space for everyone. When you combine all of this with an incredible location in the Sunrise community lined with parks, trails, and plenty of open space, this one has everything you need!

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2105 W Yucca Drive Wickenburg, AZ 85390

$595,000

3 Beds

2 Baths

1,846 SqFt

Status Active

MLS # 6783979

Property Type Single Family Residence

Price Type --

Welcome to this bright and airy home, where every room feels welcoming and filled with light. The large great room, complete with a cozy fireplace, is perfect for gatherings or quiet nights in, offering plenty of space for everyone to relax. Each bedroom is generously sized, giving you room to stretch out and create your own sanctuary. The layout flows beautifully, with natural light enhancing every corner and making the entire space feel open and inviting. Experience the ease of owned solar as you enjoy living in this fantastic home! Outside, this home continues to impress. Set on a larger lot, the property includes a fully fenced yard that offers both privacy and space to enjoy. The backyard is a true retreat, featuring a private pool for warm Arizona days and a lush grassy area ideal for greenery, adding character and charm to the outdoor space. Covered front and back porches extend your living area, perfect for morning coffee, evening unwinding, or hosting friends and family. For those with projects or hobbies, the property includes a 31' X 14' RV garage with 12' doors that includes electricity;a versatile space ready to meet any need. With room to breathe, beautiful views, and thoughtful details throughout, this home offers comfort and functionality, creating a welcoming retreat inside and out.

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41961 W Lucera Lane Maricopa, AZ 85138

$595,000

4 Beds

3.5 Baths

4,283 SqFt

Status Active

MLS # 6769687

Property Type Single Family Residence

Price Type --

Stunning home with Pool, Workshop, and 4-Car Garage in Glennwilde. PRE PAID SOLAR.. enjoy the benefits of solar without a payment! Welcome to this expansive 4-bedroom home, plus a den and a loft, located in the desirable Glennwilde community of Maricopa. This home offers a spacious layout perfect for any lifestyle. Downstairs, you'll find a formal dining room, a breakfast nook, and a large kitchen featuring rich cherry cabinets, dark granite countertops, and plenty of cabinet space. There's also a bedroom and a full bathroom on the first floor for added convenience as well as an office that could easily be converted into a 5th bedroom. Upstairs, the oversized loft provides flexible space for a home office, playroom, or anything your heart desires. The built-in desk in the hallway adds a practical touch. The oversized master bedroom include a separate sitting area, ideal for an office or additional lounging space. The master bathroom boasts a large soaking tub, separate vanities, and a massive walk-in closet. Sitting on over a quarter-acre, the backyard is one of the largest in Maricopa. It features a large pool with a seating bench and water feature, a serene rock waterfall pond, a gazebo with a cozy sitting area, a workshop, and a covered patio with pull-down shade screens. There's plenty of room to create your dream outdoor oasis. A rare 4-car garage provides ample space for vehicles, storage, and toys. Located in Glennwilde, the community offers 2 sparkling pools, walking paths, and is within walking distance of Pacana Park. Don't miss this rare find in one of Maricopa's most sought-after neighborhoods!

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3556 E Shedd Road Eloy, AZ 85131

$595,000

3 Beds

2 Baths

1,600 SqFt

Status Active

MLS # 6634975

Property Type Manufactured Home

Price Type --

Farm property with 12.91 irrigated acres. Great for growing hay or for irrigated pastures. The 3 bedroom 2 bath ground set manufactured home offers views of the Picacho Mountains with full length covered patios front and rear. The large modern kitchen includes island and hanging pan rack, custom cabinets, extra wide refrigerator, stainless steel appliances, and walk in pantry. The great room has vaulted ceilings and pellet burning wood stove. The master suite comes with separate shower and tub, walk in closet. The tall hay barn allows for plenty of hay storage and includes RV space with its own septic. The separate 2 car garage/workshop provides plenty of work space, and two 40' Connex boxes with space in between for a vehicle provide extra storage. All served by 400 amp service.

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706 E Washington Street Unit 105 Phoenix, AZ 85034

$595,000

2 Beds

2 Baths

1,876 SqFt

Status Active

MLS # 6686087

Property Type Townhouse

Price Type --

Are you a sports fan? Want to live closer to work, college or the airport in downtown Phoenix? This is your chance! This townhouse is in the heart of it all! Just a few minutes away from Chase Stadium sporting events, museums, fine dining, light rail and more. This home consists of 2 bedrooms, 2.5 baths and 2 car tandem garage. At 1,876 sf townhome has unique side yard for pets - rare find in the downtown area. The home has 20' ceilings, large loft and a balcony outside Master bedroom with exceptional views of the city. The kitchen boasts upgraded cabinets with beautiful hardware, stainless steel appliances and separate laundry room. THIS IS A RARE FIND!

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6401 W Campbell Avenue Phoenix, AZ 85033

$595,000

8 Beds

2.5 Baths

2,460 SqFt

Status Active

MLS # 6743583

Property Type Single Family Residence

Price Type --

Take a look at this remodel home with new appliances, A/C, Windows, doors, bathrooms vanities and much more. This property consists of three separate living spaces. Two of 3 bedrooms and 1 bathroom and two bedrooms and 1 bathroom. Each unit has its own private entrance and separate back yard for each unit. This is good opportunity for someone that would like to generate some income that will pay for the mortgage and possible have some cash flow. Seller has two prospective tenants paying $2,200 a month for each unit.

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