Homeowners: Your Home Must Be Sold TWICE

Homeowners: Your Home Must Be Sold TWICE | Simplifying The Market

In today’s housing market, where supply is very low and demand is very high, home values are increasing rapidly. Many experts are projecting that home values could appreciate by another 5%+ over the next twelve months. One major challenge in such a market is the bank appraisal.

If prices are surging, it is difficult for appraisers to find adequate, comparable sales (similar houses in the neighborhood that recently closed) to defend the selling price when performing the appraisal for the bank.

Every month in their Home Price Perception Index (HPPI), Quicken Loans measures the disparity between what a homeowner who is seeking to refinance their home believes their house is worth, as compared to an appraiser’s evaluation of that same home.

Bill Banfield, VP of Capital Markets at Quicken Loans urges anyone looking to buy or sell in today’s market to remember the impact of this challenge: 

“While a 1 or 2 percent difference in home value opinions may not seem like a lot, it could be enough to derail a mortgage.

A homeowner [or a buyer] could be forced to bring more cash to closing in order to make a mortgage work if the appraisal is lower than expected. On the other hand, if an appraisal comes in higher, they could be surprised with more equity than they had planned. Either way, if owners are aware of their local markets it will lead to smoother mortgage transactions.”

The chart below illustrates the changes in home price estimates over the last 12 months.

Homeowners: Your Home Must Be Sold TWICE | Simplifying The Market

Bottom Line

Every house on the market has to be sold twice; once to a prospective buyer and then to the bank (through the bank’s appraisal). With escalating prices, the second sale might be even more difficult than the first. If you are planning on entering the housing market this year, let’s get together to discuss this and any other obstacle that may arise.  Give me a call to discuss – J.P. Cook – 602-320-4253.

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21640 S Hawes Road Queen Creek, AZ 85142

$1,990,000
3 Beds
2 Baths
1,575 SqFt
Status Active
MLS # 6357693
Property Type Manufactured Home
Price Type --
The possibilities are endless with this property!! Bring your toys, boats, horses and build your dream home (OR 5 HOMES) to this irrigated property in a fabulous location !! Over 5 acres, owners have lived here for over 30 years in this 1985 mobile home...and they are ready to give someone new an opportunity to make this property into something FABULOUS! Sides up to Queen Creek wash/walking path... Neighbors to the North are One Acre, Custom Homes....and this could be split into 5 - 1 Acre Parcels.

7420 E Reins Court Prescott Valley, AZ 86314

$1,990,000
3 Beds
5 Baths
4,804 SqFt
Status Active
MLS # 6685848
Property Type Single Family Residence
Price Type --
Your new memories begin here! Enter through the giant pivot front door to this fully custom home, enter the warm and welcoming living room with space for everyone. You'll find you're eager to entertain all of your friends more than you ever have. The large great room flows to the formal dining area and then into the chef's kitchen with the very large gas, 6 burner range with its 2 ovens in addition to the built -in wall convection oven. A built -in ice maker helps when entertaining outside on the very large patio that overlooks FIVE holes of the Stoneridge Golf Course! Ready to BBQ with friends? No worries, use the easy to slide corner window from the kitchen and pass all the provisions right out to your guests! Enjoy a relaxing swim in the 25 YD indoor pool. The master suite is truly.... spa-like with the walk- in stone surround shower. The dual vanities with Brazilian Quartzite and Illuminating mirrors and the large, jetted tub tucked into the custom corner view windows, lower one blind for complete privacy while enjoying the stunning views of the mountains and the golf course below. The jetted tub heats the water and recirculates it so you can enjoy a very long, relaxing soak. The master walk in closet is very large and has great storage too. The 2 guest bedrooms are also very large and both have great big closets...so much storage in this home! These rooms are also complete with the custom corner windows for the wonderful views as well as blackout blinds for a good nights' rest. The loft has it's own patio with views of Glassford Hill and also the beautiful neighborhood below. The second floor has an art studio which could be used as a rec room or a great movie room. This room has 2 separate patios, corner windows for the views and beautiful wood floors....not to mention...the room is plumbed to add a bathroom, so this could make a 2nd master en-suite! On the main floor there is an office area that has a great view of the pool and lots of productivity space for you....all rooms have Cat 6 hard wired high speed data connections. There are so many special features....please read the Special Features page to get even MORE information about this very special home nestled in the Mingus Mtns. Golf cart and some furnishings may convey with full price offer.

22970 N 79th Place Scottsdale, AZ 85255

$1,990,000
5 Beds
3.5 Baths
3,958 SqFt
Status Active
MLS # 6732535
Property Type Single Family Residence
Price Type --
Nestled in the heart of North Scottsdale, this exquisite single-level home epitomizes modern elegance and comfort. Bathed in natural light from numerous skylights, the open floor plan seamlessly blends spaciousness with warmth. The large primary suite offers a tranquil retreat, while three additional bedrooms in a separate wing provide ample space for family or guests. A great room, adorned with a spacious eat-in kitchen featuring stainless steel appliances, serves as the heart of the home—perfect for both casual family meals and elegant entertaining. Outside, the resort-like amenities beckon. A meticulously designed outdoor space boasts a built-in BBQ area, a shimmering pool with a soothing water feature, and a cozy firepit—ideal for enjoying cool desert evenings under the stars. Located within a gated community near Grayhawk and Pinnacle Peak, residents also enjoy access to community tennis courts and a playground, enhancing the community's appeal as a serene and family-friendly enclave. This North Scottsdale gem offers a rare combination of luxury, comfort, and outdoor living, truly a sanctuary in the Sonoran desert.

2662 N Chestnut Circle Mesa, AZ 85213

$1,990,000
5 Beds
4.5 Baths
5,747 SqFt
Status Active
MLS # 6762960
Property Type Single Family Residence
Price Type --
Welcome to your dream home! ideally situated on a prime N Mesa cul de sac lot w/ excelling schools, just 15 min from Sky Harbor Airport.This elegantly remodeled home has 5 spacious bedrooms, 4.5 luxurious baths, large loft, office, bonus room, pool, and 4-car garage. Grand entrance features Restoration Hardware lighting, custom railing, & wood floors throughout, formal living room has a stunning fireplace, huge picture windows fill the space w/natural light. Culinary enthusiasts: large kitchen comes complete w/double islands, double ovens & adjacent family room for gathering. Downstairs primary suite & bathroom is a true sanctuary, w/2-way fireplace and sitting room. Upstairs a huge loft w/balcony, 2 bedrooms, a separate 2nd primary suite, and a private basement bedroom. All new AC units.

2041 N Orchard Street Mesa, AZ 85213

$1,989,500
5 Beds
3.5 Baths
3,655 SqFt
Status Active
MLS # 6776845
Property Type Single Family Residence
Price Type --
Welcome to Hermosa Groves Estates! This brand new, never-lived-in custom home redefines next generation living. The home offers three distinct wings, providing unparalleled privacy and tranquility for residents and guests alike. A 60 foot paver driveway leading to the insulated 4 car garage welcomes you home. At the heart of the home an impressive 21-foot Anderson glass sliding door, merging indoor and outdoor living. The meticulously designed kitchen was built to offer plenty of storage, counter space and functionality. Step out onto a grand porch featuring two evaporative coolers and a series of outdoor fans, ensuring outdoor comfort year-round. This move-in-ready home is waiting for your personal touch to make it uniquely yours. Come experience the unique ambiance in this home today.

4849 N Camelback Ridge Road Scottsdale, AZ 85251

$1,985,000
1 Bed
2 Baths
1,521 SqFt
Status Active
MLS # 6552938
Property Type Apartment
Price Type --
This unique loft style home features 20' ceilings in the living area with spacious indoor/outdoor living and a lower garden/yard. This home is exceptional with its soaring ceilings and phenomenal views of Camelback Mountain. Featuring 1 bedroom, 2 full baths, a den and 2 reserved parking spaces. Tucked at the base of Camelback Mountain, Ascent is a new, private gated residential enclave adjacent to The Phoenician Resort - one of Arizona's premier luxury resorts. Home designs feature contemporary architecture integrating warm, natural materials, expansive windows, stacking door systems opening to a large outdoor patio with fire feature and BBQ Thoughtfully designed by Nelsen Architects and Vallone Interior Design. Luxury finishes include exquisite Bulthaup Kitchens, hardwood floors, ..... Sub Zero-Wolf appliance package, window coverings, washer and dryer are also included. A private rooftop terrace and the Mountain Club pool and fitness facility are amenities Ascent homeowners will enjoy.

2449 W Sunrise Drive Phoenix, AZ 85041

$1,985,000
5 Beds
5 Baths
4,034 SqFt
Status Active
MLS # 6762451
Property Type Single Family Residence
Price Type --
Escape the hustle and bustle of the city just minutes from the heart of it all! Nestled on over 5 acres this 5-bed, 5 bath estate backs up to the Phoenix Preserve, with direct access to South Mountain's hiking trails from your backyard. Panoramic 360-degree mountain views, enjoy peace and tranquility as you gaze out over the city in this serene desert retreat. This home is an entertainer's dream, with a sparkling diving pool, built-in BBQ, and an expansive backyard designed for hosting family and friends. Step inside to find a beautifully updated interior with a chef's dream of a kitchen. Adding to its appeal, the property includes a separate 1-bedroom, 1-bath suite with its own kitchen, living room, and views. Experience resort-style living & close to everything Phoenix has to offer! This exceptional estate spans three separate parcels totaling 224,118 sq ft (5.14 acres), providing ample space for outdoor activities and privacy. With individual parcel sizes of 81,108 sq ft, 55,896 sq ft, and 87,114 sq ft, there's plenty of room for your imagination. The guest attached guest suite is 622.5 sq ft of the total 4,034 sq ft. There are 1,261 sq ft of outdoor covered living area. The expansive lot allows for parking toys, housing horses, or creating customized landscaping. The interior boasts newer flooring and fresh paint throughout, enhancing the home's appeal. This property truly offers a unique combination of tranquility and convenience, all while being just minutes from the vibrant offerings of Phoenix!

12328 E Black Rock Road Scottsdale, AZ 85255

$1,983,995
3 Beds
3.5 Baths
2,860 SqFt
Status Active
MLS # 6708931
Property Type Single Family Residence
Price Type --
*NEW CONSTRUCTION: SPRING 2025 COMPLETION. Interior Finishes have been added!* Stunning Callum floor plan with Modern exterior under construction on an elevated home site! Gorgeous 13' ceilings, a casita with private entrance and 3 outdoor spaces are some of the reasons this plan is a top seller. Professionally designed, tasteful neutral color scheme. Additional upgrades include SS Wolf appliances, a double oven, 48'' Sub Zero Fridge & extended Kitchen island. The great room has a 72'' linear fireplace & a 16' multi-slide pocket door, perfect for cozy nights at home. This is the low-maintenance, LUXURY, lock & leave home you have been waiting for! Located in the stunning guard-gated community, Sereno Canyon. The ultimate resort lifestyle community in North Scottsdale by Toll Brothers. Come take a tour today!

6762 W Hombre Road San Tan Valley, AZ 85144

$1,975,000
4 Beds
3.5 Baths
4,100 SqFt
Status Active
MLS # 6768203
Property Type Single Family Residence
Price Type --
Welcome to ''The Resort''. This CUSTOM HORSE PROPERTY will capture your heart from the moment you walk into the custom iron gated PRIVATE courtyard. Property boasts 4 over-sized bedrooms (office could be the 5th) with walk in closets in each with their own private bathroom. Just minutes away from the Equestrian center and downtown Queen Creek. Amazing views of the San Tan Mountains, Superstitions and Four Peaks with city lights. When you bring your horses and toys they deserve THE VERY BEST-this home is a must see! 4 car+ attached garage, plus a 28' X 50' RV garage, fully insulated with both having epoxy flooring and a 12 x 16 storage loft area with ladder and safety railings. 2 large covered Horse stalls, paddock and large tack/feed room for the equestrian enthusiast.

5327 E Pinchot Avenue Phoenix, AZ 85018

$1,975,000
5 Beds
4.5 Baths
3,066 SqFt
Status Active Under Contract
MLS # 6772922
Property Type Single Family Residence
Price Type --
This stunning, newly constructed home offers 3,066 square feet of luxurious living space, featuring 5 bedrooms, 4.5 bathrooms, pool and an attached 2-car garage. The modern design includes high-end finishes throughout, ensuring both comfort and style. The master suite is a true retreat, boasting an oversized walk-in shower with rainfall showerhead, built-in bench, and LED accent lighting. The large walk-in closet offers custom-built organizers, while the elegant bathroom features a 70'' soaking tub and backlit vanity mirrors. The spacious kitchen is a chef's dream, complete with a 9' quartz waterfall island, luxury appliances, and a 48'' dual-oven gas range. The custom range hood and solid oak floating shelves add a sophisticated touch, while the expansive pantry and temperature-controlled wine cellar provide ample storage. Designed for privacy and entertainment, the backyard includes a 20'x20' pergola, a built-in grill with a granite eat-in bar, and a firepitperfect for hosting gatherings. The newly refinished pool with a PebbleTec surface, in-pool bar table, and Baja shelf offers resort-like living. Plus, all new smart pool equipment allows for easy control of features via smartphone. Additional highlights include:

7468 E Baker Drive Scottsdale, AZ 85266

$1,975,000
5 Beds
4 Baths
4,276 SqFt
Status Active Under Contract
MLS # 6786273
Property Type Single Family Residence
Price Type --
Welcome to your dream oasis in the heart of North Scottsdale! Discover modern luxury in Trovia! This 5-bed, 3.5-bath home boasts a fully updated kitchen with granite countertops and new appliances. Outside, enjoy a basketball court, putting green, raised garden beds, fruit trees, and a heated pool/spa. The split floorplan offers a spacious main suite. Perfectly located near schools, shopping, and outdoor activities, this property epitomizes Arizona living.

2203 E Scenic Drive Payson, AZ 85541

$1,975,000
4 Beds
5 Baths
5,618 SqFt
Status Active
MLS # 6726593
Property Type Single Family Residence
Price Type --
EXQUISITE MODERN MOUNTAIN RETREAT located within the desirable community of Chaparral Pines, with expansive mountain and golf course views! This stunning four-bedroom, five-bath home, including a dedicated office, offers luxurious living both indoors and out. Completely updated and move-in ready, this home boasts a spacious, open floor plan spread across three levels, all accessible by a 3-stop elevator or gentle stairs, perfect for hosting family and friends. The main level welcomes you with a jaw-droppingly grand great room, drenched in natural light from expansive windows that blend indoor elegance with breathtaking views of hole #7 and the Granite Dells in the background. The floor-to-ceiling stone fireplace and a wet bar add to the sophisticated atmosphere, while the radiant heated floors add an additional touch of comfort and luxury. The recently remodeled kitchen, updated in 2020, features quartz countertops, new appliances, and custom cabinetry, and the large breakfast bar and adjacent dining area are ideally situated to enjoy the magnificent views. The main-level master suite opens to an expansive deck, perfect for morning relaxation, and includes a luxurious en suite bath with a sizable walk-in closet. Also on the main level, you'll find a beautifully designed office with built-ins and a sink, a laundry room, and a powder room for guests. Split from the master suite, a short ascent of stairs leads to two private guest bedrooms, each with walk-in closets and en suite baths. The lower level offers a generous living area with a theater setup, wet bar, and outdoor access to a patio featuring a fireplace and hot tub. The fourth bedroom, a spacious guest master suite, is situated for maximum privacy. This home also provides ample storage and flexible spaces to suit your needs with a basement level workshop, multiple closets, an indoor/outdoor dog kennel, and a potential wine cellar that's currently used as a kids toy/play area. The oversized 3.5-car garage accommodates three vehicles, a golf cart, and includes additional storage space.

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