The Connection Between Home Prices and Family Wealth

The Connection Between Home Prices & Family Wealth | Simplifying The Market

Over the next five years, home prices are expected to appreciate 3.22% per year on average and to grow by 17.3% cumulatively, according to Pulsenomics’ most recent Home Price Expectation Survey.

So, what does this mean for homeowners and their equity position?

As an example, let’s assume a young couple purchased and closed on a $250,000 home in January. If we look at only the projected increase in the price of that home, how much equity will they earn over the next 5 years?

The Connection Between Home Prices & Family Wealth | Simplifying The Market

Since the experts predict that home prices will increase by 4.4% this year alone, the young homeowners will have gained $11,000 in equity in just one year.

Over a five-year period, their equity will increase by nearly $43,000! This figure does not even take into account their monthly principal mortgage payments. In many cases, home equity is one of the largest portions of a family’s overall net worth.

Bottom Line

Not only is home ownership something to be proud of, but it also offers you and your family the ability to build equity you can borrow against in the future. If you are ready and willing to buy, find out if you are able to today!  I’d appreciate the opportunity to help – J.P. Cook – 602-320-4253.

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1424 E Arabian Court Gilbert, AZ 85296

$1,495,000
6 Beds
4.5 Baths
4,639 SqFt
Status Active
MLS # 6776166
Property Type Single Family Residence
Price Type --
Exceptional multi gen living in central Gilbert, on a culdesac! Single level luxury home on almost an acre with guest house, pool w/ rock waterfall, additional spa/pool, gas fire pit, sport court, and more. 3 car garage w epoxy floor. PLUS, detached 2+ car garage / shop & FULL 950 sq. ft. casita (incl. in sq ft). Pavered walkway / side drive. Double front doors open to formal living room & separate dining room with plantation shutters. 10 ft ceilings & crown molding throughout. Dream kitchen with stainless steel appliances, double ovens, trash compactor, oversized island, walk-in pantry, breakfast room and white raised cabinets. Separate bar, complete with wine refrigerator. Master suite w/ French doors + private exit. Master bath has brand new tiled shower, quartz counters & Jacuzzi tub. Newly remodeled secondary bathrooms have never been lived in! Secondary baths also include quartz countertops w/ double sinks. Use front bedroom as a home office or a bedroom. Middle bedrooms complete with desks, cabinets and closet built-ins. Back bedroom functions as either a home theater (screen & projector convey) or bedroom. RV gate is electric / solar powered. Newer solar tubes provide additional interior light. Guest house / casita / pool house was built in 2017 and includes: cork flooring throughout, granite countertops, a murphy bed / shelving in the living room, built-in desk in master bedroom, tankless hot water heater and full laundry room (washer / dryer convey). Beautiful full-wall slider leads to pool. Horse privileges allow for up to 3 horses to be kept on property and / or house up to 2 horses at the community stables (at 435 S. Granite St.) for a small fee. Unique equestrian community in the heart of Gilbert, complete with bridle paths for walking and / or riding horses. LOCATION, LOCATION, LOCATION!!!

10959 E Kora Lane Scottsdale, AZ 85255

$1,495,000
4 Beds
2.5 Baths
2,787 SqFt
Status Active
MLS # 6720593
Property Type Single Family Residence
Price Type --
This single level home is located within private guard gated Cimarron Hills. Its split floor plan includes a separate living and dining room and family room that opens to the center island kitchen w/Alder cabinets. The primary suite includes a nice bath with separate ceramic tiled shower, tub, double sinks and a walk-in closet. The home includes plantation shutters and a computer work or study station outside the guest bedrooms. The covered patio overlooks the low maintenance yard with a heated pool and spa. The 3 car garage includes built-in storage cabinets.

3513 N Pinto Lane Scottsdale, AZ 85251

$1,495,000
3 Beds
3 Baths
2,511 SqFt
Status Active
MLS # 6769877
Property Type Single Family Residence
Price Type --
If it's lifestyle you are looking for, this is the place for you! This exquisitely remodeled home in Scottsdale is walking distance or a short bike ride from all the best shops and entertainment in Old Town Scottsdale and all that Arcadia has to offer! Attention to detail is the hallmark of this gorgeous 3 bedroom/3 bath home, and at over 2500 feet, it lives like a resort. This chef's kitchen is not only beautiful but functional and features quartz countertops, stainless steel appliances, and a large kitchen island where everyone gathers. The luxurious primary suite is an ideal retreat with a large walk-in closet and bathroom that feels like your own private spa featuring double vanities, free-standing tub and dual shower heads. The bonus family room with a built-in bar makes for great entertaining/tv space and opens to the private oasis in back! The resort-style backyard with built-in barbeque, sparkling heated pool and hot tub make for the perfect gathering space, ideal for entertaining and enjoying Arizona's sunny weather. Find yourself living your best life in this immaculate Scottsdale jewel!

7475 E Timberlane Court Scottsdale, AZ 85258

$1,495,000
3 Beds
2.5 Baths
2,502 SqFt
Status Active
MLS # 6783120
Property Type Single Family Residence
Price Type --
Designed to the Nines in the Eastwood enclave of Gainey Ranch! Step through the beautiful IRON GLASS front door to discover a COMPLETE REMODEL THAT BECKONS WARMTH AND LUXURY. A gorgeous kitchen features a stunning textural backsplash, wood accents, large entertainer's island, soft-close SOLLID Cabinetry and quartzite counters. Multiple living spaces marry inclusivity while offering the right amount of separation between rooms. Details envelop this home through designer lighting, spa-like baths with marble tile and statement-making hardware such as crystal doorknobs throughout. Highly upgraded flooring, windows, window treatments and doors accentuate this knockout turnkey home that will appeal to those looking at lock and leaves or the 3 C's schools. Gainey Ranch, and the surrounding McCormick Ranch area, offers convenient and fabulous restaurants, parks, and shopping. Come experience this exceptional home in this serene neighborhood.

7016 E Grand View Lane Gold Canyon, AZ 85119

$1,495,000
4 Beds
3.5 Baths
3,821 SqFt
Status Active
MLS # 6723961
Property Type Single Family Residence
Price Type --
MOUNTAIN VIEWS in this desert paradise custom built for the entertainer, cook, or outdoor enthusiast (a quick hike to the Broadway Trailhead)! Enjoy rooftop sunsets, relax in your soaking tub next to the two-way fireplace, take a shower in the moonlight, or kick back with a cocktail from the built in wet bar. Guests will love the huge casita with full bath or secondary owner suite, and the yard is built to enjoy w/ outdoor fireplace and 5 covered patios! Gourmet kitchen w/ 2 dishwashers, 2 sinks, Wolf Gas French Cooktop, 2 wall ovens, Sub Zero Frig & Freezer Drawers, Built in Coffee / Espresso, cast iron farmhouse sink, & massive island. Southwest style handmade Mana Pottery tiles, Travertine, 2x6 construction, spray foam attic, fresh exterior paint! Huge lot with room to customize!

1410 W Sandpiper Drive Gilbert, AZ 85233

$1,495,000
5 Beds
3.5 Baths
4,172 SqFt
Status Active
MLS # 6733283
Property Type Single Family Residence
Price Type --
Stunning luxury lakefront home with private dock! SELLER FINANCING AVAILABLE. AVAILABLE FURNISHED! This property offers luxury living with breathtaking views. Nestled on a private cul-de-sac lot, this expansive residence boasts nearly 4,200 sq. ft and is one of the largest lake frontage lots in the area. Additionally, you'll find an extended patio, large private balcony, expansive primary suite, pool with spa, gourmet kitchen, huge windows, and breathtaking vaulted ceilings. All of this while being just minutes from Downtown Gilbert - The Heritage District. This is a must see as homes like this do not come on the market often!

3009 S Tourmaline Drive Unit 22 Flagstaff, AZ 86005

$1,495,000
3 Beds
3.5 Baths
1,891 SqFt
Status Active
MLS # 6742480
Property Type Apartment
Price Type --
Experience luxury living in the prestigious Pine Canyon Golf Community with this stunning single-level condo. This highly upgraded new build boasts 2 bedrooms and 2.5 bathrooms, accompanied by a charming 1-bedroom, 1-bathroom casita, perfect for guests, office or private retreats. The home is exquisitely upgraded throughout, offering elegance and modern conveniences at every turn. Enjoy serene, filtered views of the driving range from the beautifully landscaped outdoor spaces, perfect for relaxation or entertaining. The attached 2-car garage provides ample storage and convenience. Nestled within Pine Canyon's sought-after community, this residence is a rare gem that combines comfort, style, and a prime location. See attached upgrade list.

3181 E Berridge Lane Phoenix, AZ 85016

$1,495,000
3 Beds
3.5 Baths
2,745 SqFt
Status Active
MLS # 6762515
Property Type Single Family Residence
Price Type --
Experience luxury resort living at its finest at the exclusive 24/7 guard-gated community of Biltmore Greens! This 3BR/3.5 BA w/2 car garage 2745 sqft split floorplan home is adorned w/soaring ceilings & wood beam accents which provide an appealing flow from the formal living & dining area to the kitchen & family room. Duel Primary suites w/walk in closets. Remodeled kitchen with granite & stainless-steel appliances. Remodeled Baths. Most of the rooms wrap around a meticulously manicured patio w/fountain & spa. Take the spiral staircase to the observation deck where there are breathtaking 360-degree views of the city & mountains. Ideal for entertaining, this lock & leave house is in a Prime location just minutes from the Historic Biltmore Hotel, Golf Courses, Shopping & 5-star restaurants

34508 N 99th Way Scottsdale, AZ 85262

$1,495,000
5 Beds
3.5 Baths
3,712 SqFt
Status Active
MLS # 6699305
Property Type Single Family Residence
Price Type --
A Contemporary Home in the Prestigious Gated Legend Trail. Located on the 13th hole of the Golf Course. While sunning at the new pool and spa with water feature or just taking in the sunset views, this home is a stunner! The high ceilings and large expansive floor to ceiling windows capture the gorgeous views at the living room, great room and owner's suite; all overlooking the backyard and perfect for entertaining. This spacious home with private owner's suite and spa-like bath with floating lit vanity cabinetry, beautifully tiled glass shower, separate free standing soaking tub and 2 walk-in closets is fabulous! Also, an additional ensuite bedroom can easily transform into a casita. Legend Trails is among Top 100 Facilities by Golf Magazine/Best Places to Play by Golf Digest Magazine

1822 E Washington Avenue Gilbert, AZ 85234

$1,495,000
4 Beds
3 Baths
3,596 SqFt
Status Active Under Contract
MLS # 6765461
Property Type Single Family Residence
Price Type --
Prepare to be amazed! This beautifully FULLY remodeled home is located in one of Gilbert's top desirable neighborhoods-Circle G Ranches. This home is situated on a corner lot with nearly an acre of irrigated land. Whether you are dreaming of building a casita, a shop, a place to store all your toys, or even a sports court, with no HOA the possibilities are endless. Do you love to have space to entertain? If so, this homes layout is for you! Offering a family room and not just one, but two living rooms! And if this home couldn't get any better, it is located just minutes from downtown Gilbert!

33101 N 82nd Street Scottsdale, AZ 85266

$1,495,000
5 Beds
3.5 Baths
4,026 SqFt
Status Active
MLS # 6713004
Property Type Single Family Residence
Price Type --
Your N. Scottsdale oasis can be found here! This stunning 5 bedroom home sits on just over an acre with expansive desert views seen from the covered balcony off the incredible primary suite featuring its own sitting room & 2 walk-in closets. Enjoy the propane heated sparkling pool & spa with true privacy in your dream backyard due to lush and mature landscaping on this corner lot! The pride of ownership, extensive upgrades & high attention to detail the owners have had in maintaining this property truly shows! No HOA - Solar is OWNED & a huge asset for enjoying this property however you like (electric bills & list of major property upgrades in documents tab)!

19617 N 39th Drive Glendale, AZ 85308

$1,495,000
4 Beds
3.5 Baths
4,024 SqFt
Status Active
MLS # 6733689
Property Type Single Family Residence
Price Type --
NEW CONSTRUCTION! Welcome to Vision Hill Estates. Single-level, perfect for creating unforgettable memories. 4 spacious bedrooms, 3.5 luxurious baths, and a 3-car garage. offering ample space for family and guests. The large lot, just under half an acre, ensures privacy and space to enjoy. Step inside to discover a large, open gourmet kitchen with high-end finishes, a walk-in pantry plus an additional room for extra storage. Conveniently located near the 101, 51, and 17 freeways, Vision Hills Estates provides easy commutes throughout the Valley of the Sun. The large backyard is ready for you to create your own private oasis. Don't miss this opportunity to make this stunning home your own in this exclusive community. Come and experience a blend of luxury and convenience. Energy Efficient home built with 2x6 construction and a 400 amp electrical panel.

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