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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3705 Ridgeview Terrace Wickenburg, AZ 85390

$580,000

2 Beds

2 Baths

1,554 SqFt

Status Active

MLS # 6754596

Property Type Single Family Residence

Price Type --

This perfect 2-bedroom, 2-bath home is ideal for two, offering 1,554 sq. ft. of thoughtfully designed living space. The open great room features stunning eastern mountain views and beautiful landscaping. Inside, you'll find upgraded cabinets with soft-close drawers, granite countertops throughout, under-mount sinks, and custom tile flooring with upgraded carpet in the bedrooms. Custom shutters adorn the bedrooms, while the living room boasts a custom entertainment center and shelving. Additional features include central vac, water filtration, a fully fenced yard with ample entertaining space and a custom water feature, all framed by open mountain views to the north and east. Paired with your resort lifestyle living, you've found your desert oasis!

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3920 E Tonto Street Phoenix, AZ 85044

$580,000

3 Beds

2 Baths

2,152 SqFt

Status Active

MLS # 6763663

Property Type Single Family Residence

Price Type --

**Your Dream Home Awaits in Ahwatukee!** Welcome to this charming 3-bedroom, 2-bathroom home in the heart of Ahwatukee. With an abundance of natural light, the spacious floor plan creates a warm and inviting atmosphere. The gourmet kitchen features stainless steel appliances, granite countertops, and plenty of space for culinary adventures. ALL new Andersen Windows. Step outside to a **spacious yard** complete with a **generous swimming pool**, perfect for entertaining or enjoying Arizona's beautiful weather. The yard offers plenty of space for relaxation and outdoor activities, making it an ideal retreat. Enjoy the perfect blend of style and comfort in every corner of this home. Spacious bedrooms and modern bathrooms complete the package. Don't hesitate, this one will go fas

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3215 W Molly Lane Phoenix, AZ 85083

$580,000

4 Beds

2.5 Baths

2,864 SqFt

Status Active

MLS # 6771001

Property Type Single Family Residence

Price Type --

Welcome home! Step into this stunning 2-story gem, where comfort meets style at every turn. As you enter, you'll be greeted by inviting wood-look floors and a neutral palette that sets the perfect tone for relaxation. The pre-wired surround sound creates an immersive audio experience throughout the home. The cozy living room flows seamlessly into a spacious great room, ideal for gatherings with family and friends. The kitchen boasts stainless steel appliances, ample counter space, and a hanging pot rack. You'll love the convenience of the walk-in pantry and the large center island with a breakfast bar, perfect for quick meals or casual conversations. Retreat to the main bedroom, a true sanctuary featuring a lovely bay window that floods the room with natural light... The private bathroom offers dual sinks and a generously sized walk-in closet. Venture upstairs to discover a spacious loft, perfect for creating your own media center or play area. Step outside to your backyard oasis, complete with a covered patio, a paver patio for entertaining, lush grass for outdoor fun, and a rejuvenating pool to cool off on warm Arizona days. With so much to love about this home, it's truly a must-see. Don't miss your chance to make it yours today!

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10323 E Durant Drive Mesa, AZ 85212

$580,000

3 Beds

2 Baths

1,764 SqFt

Status Active

MLS # 6769379

Property Type Single Family Residence

Price Type --

Welcome to your new oasis in the vibrant Eastmark community! This beautifully maintained single-story home features 3 bed, 2 bath, all situated on a spacious corner lot with a fantastic pool-perfect for relaxation & entertaining. Enjoy bright, open living spaces with tile flooring throughout, complemented by a large glass slider that floods the area with natural light. The kitchen boasts stainless steel appliances, ideal for family gatherings. The primary suite includes a generous walk-in closet & an ensuite bath, providing a serene retreat. Step outside to your expansive backyard, perfect for sunny days and backyard barbecues. Extensive community ammenities include: pool, walking paths, the Mark(community ctr), numerous play areas and more. Close to the 202 and shopping/dining.

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29740 N 121st Avenue Peoria, AZ 85383

$580,000

4 Beds

3 Baths

2,884 SqFt

Status Active

MLS # 6769909

Property Type Single Family Residence

Price Type --

Welcome to Vistancia! This spacious 4 bedroom 3 bath home, with an optional office/5th bedroom, is move-in ready! Situated on a large lot, it offers plenty of room for relaxation and entertainment. Inside, enjoy a bright and airy open layout featuring a cozy fireplace perfect for chilly evenings. The kitchen boasts ample counter space and plenty of storage, ideal for meal prep and gatherings. Step outside to discover an expansive backyard with natural grass and established shade trees, creating a serene space for outdoor enjoyment. Located in the highly sought-after Vistancia community, this home is conveniently close to schools, parks, and amenities like pools and golf courses. Don't miss the chance to make this your new home sweet home!

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9934 E Twin Spurs Lane Florence, AZ 85132

$580,000

4 Beds

2.5 Baths

2,378 SqFt

Status Active

MLS # 6770985

Property Type Single Family Residence

Price Type --

Looking for an affordable horse property in Wild Horse Estates? 1.17 fenced acers w NO HOA. 2400 sf home with 4 beds, 2.5 bath, 3 car garage + 1 car detached garage w 220amp, detached finished insulated HVAC construction office. 12' gate, 5' gate. Enjoy the stunning sunsets from your full-length covered rear patio, front patio or while riding in or nearby desert trails. Home has open vaulted floorplan, eat-in island kitchen, SS appliances, herringbone tile flooring, fireplace, generous primary bedroom with separate exit. Fresh interior paint. Solar lease for energy efficiency and lower utility bills = savings. Plenty of room for vehicles, hobbies, RV, horses. Running a business and need to park trucks, trailers? Close to shopping, weekend ventures, still has that country feel! Great horse neighborhood with shopping, dining and entertainment within a short driving distance.

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6337 W Irma Lane Glendale, AZ 85308

$580,000

3 Beds

2 Baths

1,942 SqFt

Status Active

MLS # 6773664

Property Type Single Family Residence

Price Type --

Seize the opportunity to own this bright and inviting pool home located on the golf course at Arrowhead Ranch. Experience resort-style living in the beautiful Arizona sunshine with a backyard designed for relaxation and entertainment. Outdoor features include a sparkling pool with a waterfall, a BBQ cooking area, fire pit, and a covered patio—perfect for hosting or just enjoying the greenery. Many upgrades done over the last 10 years, this home boasts high-end finishes including fresh interior paint, wood flooring, granite countertops, backsplash, and stainless steel appliances. Upgraded with a new AC in 2018. Conveniently located near shopping and top-rated schools. You have to see this one to feel its beauty and charm. Don't hesitate as homes like this rarely last long.

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16777 W Toronto Way Goodyear, AZ 85338

$580,000

6 Beds

5 Baths

3,486 SqFt

Status Active

MLS # 6779198

Property Type Single Family Residence

Price Type --

Gorgeous home!! 6 bedroom/ 5 bathroom and a loft. This is an Artesia Floor plan which is one of the most desirable homes in the Canyon Trails Community. You will have plenty of room to roam with your family. Double islands in the kitchen give this home a luxury feel and leads to a large family room. Two bedrooms downstairs which one could be a Mather-in-law suite and 4 bedroom upstairs plus a huge loft. This is a unique home that won't disappointed you. New paint, new carpet, new quartz, new ceiling fans, new faucets, new water softener, new water heater, new electrical panel, new appliances and more. Owned solar panels, no payments. So much room for your family and ready to move in and enjoy.

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4808 N 24th Street Unit 303 Phoenix, AZ 85016

$580,000

2 Beds

2 Baths

1,356 SqFt

Status Active

MLS # 6779827

Property Type Apartment

Price Type --

This bright and spacious 2 bedroom, 2 bathroom condo at Biltmore Optima features an open-concept design with floor-to-ceiling windows with views overlooking the mountains and Fashion park mall. The kitchen includes a gas stove, granite countertops, and a full-sized washer and dryer for convenience. Just steps from the elevator, this condo also offers two underground parking spots and additional guest parking. Resort-style amenities include a 24-hour fitness center with a steam room, concierge services, and on site hoa. The rooftop terrace showcases breathtaking 360° views of sunsets, mountains, and city lights, with a barbecue area and misters for outdoor enjoyment. Relax in the brand-new pool and spa with panoramic views at sunset. Steps away from shopping, dining, and entertainment.

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13050 W Running Deer Trail Peoria, AZ 85383

$580,000

2 Beds

2 Baths

1,867 SqFt

Status Active

MLS # 6782144

Property Type Single Family Residence

Price Type --

Welcome Home to Luxury & Convenience! Experience the pinnacle of modern living in this beautifully upgraded 'Libertas' model with over $70,000 in recent enhancements! With a stunning stone exterior and extensive updates, this home is truly MOVE-IN READY. Highlights & Features: Owned Solar System (installed 2023) - Eco-friendly and cost-saving! State-of-the-Art TRANE 5-Ton HVAC (2021) - Complete with full-home allergy filtration and surge protection for total comfort. Chef's Kitchen (2022) - Renovated with refinished staggered cabinets with roll-out shelves, premium granite slab countertops, and a massive island. Outfitted with top-of-the-line GE Café stainless steel appliances, including a 6-burner gas stove with griddle, double ovens, French door refrigerator with water dispenser, microwave, and dishwasher. Freshly Painted Interior & Plush New Carpeting in bedrooms (2023) - Every detail is fresh and inviting. Outdoor & Lifestyle Features: North/South exposure with a private backyard featuring a built-in gas BBQ, a covered patio with surround sound, and an ideal setup for gatherings with friends. Low-maintenance landscaping with a PVC drip system & timer (2018). 4-foot extended garage for golf cart storage or extra space! Additional Upgrades: New Maytag washer & dryer with pedestals (2022), reverse osmosis system (2021), water softener, garbage disposal (2022), upgraded LED recessed lighting, and new dimmer switches in key areas. Great room with built-in surround sound speakers for an immersive experience. Community & Location: Nestled in the award-winning, gated Trilogy at Vistancia community for ages 55+, enjoy a world-class lifestyle with 5-star resort amenities at the 35,000 SF Kiva Club, which includes indoor and outdoor pools, a fitness center, spa, cafe, billiards, meeting rooms, library, and courts for tennis, pickleball, and bocce. The Gary Panks-designed golf course winds beautifully through the neighborhood, and additional amenities are available at the Mita Club. With quick access to the 303, enjoy nearby shopping, dining, entertainment, and outdoor recreation at Lake Pleasant and Peoria's Paloma Park. This incredible home is ready to welcome you! Act quicklythis is a rare find in Trilogy!

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2823 Willow Creek Road Prescott, AZ 86301

$580,000

4 Beds

3 Baths

2,376 SqFt

Status Active

MLS # 6783195

Property Type Single Family Residence

Price Type --

This home is a perfect blend of comfort and future potential, offering a versatile canvas for any lifestyle. nestled on nearly 1/2 acre, it provides ample space for family gatherings and room to grow. The 4th bedroom, complete with its own ensuite, adds a touch of luxury and privacy. Thoughtfully updated with stylish barn doors, a sleek gas stove, and a cozy wood-burning fireplace. It seamlessly combines modern elements with a welcoming, timeless charm. The 2-car garage offers storage flexibility, and with no HOA restrictions, your creative possibilities are limitless. Whether you're seeking relaxation or expansion, this home is ready for whatever you envision.

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25958 W Westcott Drive Buckeye, AZ 85396

$580,000

2 Beds

2 Baths

1,862 SqFt

Status Active Under Contract

MLS # 6746921

Property Type Single Family Residence

Price Type --

SPARKLING POOL, SPA ,OWNED SOLAR AND A SEPERATE GOLF CART GARAGE- THIS HOME HAS IT ALL! Enjoy your own private oasis on the Mountain side of Sun City Festival. Nestled on a quiet street, this light and bright home will not disappoint. Many features include- wood plank tile flooring throughout, dual vanity master bath with tiled low threshold shower and a large spacious closet. Kitchen features S/S appliances and granite countertops. The Den is perfect as an office or hobby room. Step thru the center sliding doors to the back covered patio with extended pavers, built-in BBQ, and lush landscaping and your own putting green. The center courtyard is perfect for your morning coffee and is adjacent to the kitchen. Both garages have epoxy flooring. A short walk or drive to the rec center.

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