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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1430 S Cherry Circle Dewey, AZ 86327

$1,595,000
5 Beds
6 Baths
8,713 SqFt
Status Active
MLS # 6751002
Property Type Single Family Residence
Price Type --
You'll fall in love with this exquisite mountain estate, set on nearly 4 acres of picturesque land nestled within the foothills of Dewey. Offering breathtaking 360-degree views of the surrounding mountains, this ''R. Dewey Ranch'' property is the perfect ranchette, designed for those who appreciate both luxury and beauty. Whether you dream of creating a vineyard, cultivating gardens, raising horses, or hosting gatherings for loved ones, this estate provides the ideal setting. Upon approach, you're greeted by a charming covered front paver porch that spans the length of the house, inviting you to take in the serene surroundings. Step inside to be captivated by the soaring ceiling of the great room, where the floor-to-ceiling river rock wood-burning fireplace serves as a stunning focal poin Gorgeous wood floors and a wall of windows in the dining room flood the space with natural light, creating an inviting atmosphere for entertaining or simply relaxing. This architecturally stunning home features 5 spacious bedroom suites, each thoughtfully designed for comfort and privacy. The heart of the home is the gourmet kitchen, a chef's paradise equipped with a commercial-style Viking range, a side-by-side cabinet-front refrigerator, a stainless steel Viking hood, and an abundance of designer cabinetry. Custom granite countertops, tile floors, island with a breakfast bar, and a massive walk-in pantry complete the kitchen, making it a space where culinary dreams come to life. The wet bar, complete with a beverage refrigerator, offers a convenient spot for serving guests, enhancing the home's entertaining capabilities. Down the hall, the family room provides an intimate gathering space, featuring tongue and groove ceilings, peeled-pole accent columns, built-in cabinets and bookshelves, a fireplace, and a built-in desk. This cozy retreat is perfect for family evenings or quiet reading sessions. The primary suite is a luxurious and spacious retreat, with double French doors leading to the back deck. The suite features a two-way gas fireplace that faces into the spa-like ensuite bathroom, where you'll find a dual-sink vanity, a large walk-in closet, a stone tile walk-in shower, and a jetted soaking tub positioned beneath a window that allows natural light to pour in. Additional main-level amenities include a well-appointed laundry room with built-in cabinets and ample counter space, a powder room, and a sunroom that houses a hot tub, providing a private oasis for relaxation. Ascending the front staircase, you'll find a versatile loft space overlooking the great room. With built-in cabinets and desks, this area is ideal for a home office, study, or homeschool room. Down the wood-floored hallway are 3 additional ensuite bedrooms, each with walk-in closets and beautifully appointed bathrooms. The last room on this level can serve as a nursery, playroom, office/den, or an additional bedroom, offering flexibility to suit your needs. Descending the back staircase to the basement level, you'll discover a theater room, perfect for movie nights, and a vast gym room with a wall of mirrors, providing a dedicated space for fitness enthusiasts. Adjoining the theater room is a game/billiards room, ideal for entertaining. Beyond the double French doors lies an in-law suite, complete with a living, dining, and kitchenette, leading to the fifth bedroom suitean ideal setup for guests or extended family. The home also features substantial garage space, with a 4-car garage on the main level and an additional attached 2-car garage on the basement level, ensuring plenty of room for vehicles, storage, or a workshop. The outdoor spaces are equally impressive, with expansive decks on both the upper and main levels, the latter spanning the entire back of the home. The sprawling grassy backyard invites exploration, leading you to a charming children's playhouse, a pool-sized pond/water feature, and four paddocks ready for horses, gardens, or even a vineyard. The home has new roofing, gutters and skylights that were all updated in 2022. With security doors on each exterior door, you can enjoy the fresh mountain breeze flowing through the home every day. Surround yourself with unparalleled luxury, peace, and quiet in this exceptional mountain estate, where stunning views and serene surroundings await. This remarkable home is ready to be yours, offering a lifestyle of comfort, beauty, and tranquility.

1829 W Cloud Road Phoenix, AZ 85086

$1,595,000
6 Beds
5.5 Baths
5,100 SqFt
Status Active
MLS # 6753152
Property Type Single Family Residence
Price Type --
If you are looking for a peaceful retreat, this luxurious home has your needs covered! Be welcomed by the inviting front porch upon arrival. Fall in love with the immaculately designed open floor plan with picture-perfect windows overlooking fantastic mountain views. The home is enhanced with vaulted ceilings, pre-wired surround sound, decorative ceiling fans, recessed lighting, a bay window, and soothing paint tones, complemented by wood-plank tile flooring. Meticulous attention to detail is presented in the chef's kitchen, complete with a gas cooktop, a wall oven, a wine cooler, and a farmhouse sink. Quartz counters, a subway tile backsplash, a plethora of white cabinetry with crown molding, a walk-in pantry, and an island with a breakfast bar elevate the space. CLICK ON MORE... 2 Stories, each level is unique (on MLS info shows as 1 level and basement). MORE INFORMATION TO COME

15234 E Sundown Drive Fountain Hills, AZ 85268

$1,595,000
4 Beds
3 Baths
3,666 SqFt
Status Active
MLS # 6771093
Property Type Single Family Residence
Price Type --
**Stunning Desert Contemporary Masterpiece with Panoramic Views** Welcome to your dream home, gracefully resting on a serene hillside lot, offering breathtaking panoramic views of the surrounding mountains and tranquil desert. This exquisite property is designed for those who appreciate privacy without sacrificing luxury. As you enter through the elegant gated courtyard, you are immediately enveloped in a light and bright floorplan that radiates warmth and sophistication. The interior boasts high-end finishes at every turn, including exquisite travertine flooring, clear maple accents that add a touch of natural elegance, and sumptuous slab granite countertops that elevate the kitchen and bathrooms. The large living room serves as the heart of the home, featuring a cozy gas fireplace perfect for intimate gatherings or quiet evenings spent unwinding after a long day. Step outside to discover three captivating outdoor living spaces that redefine relaxation and entertainment. Dive into your own serene tile-lined pool or unwind in the spa while soaking in the stunning desert landscape. For alfresco dining enthusiasts, an outdoor dining area awaits with its inviting fireplace, louvered overhang for shade, and built-in gas grillperfect for hosting unforgettable gatherings under the stars. Recent updates enhance this already remarkable residence: enjoy new air conditioning systems (2023), a beautifully redone master bath (2019), and a brand-new pool pump (2023). Fresh interior and exterior paint completed in 2024 ensures this home is move-in ready! Don't miss your chance to own this exceptional property where modern luxury meets natural beauty. This stunning masterpiece won't last long!

1125 Trails End Drive Sedona, AZ 86336

$1,595,000
4 Beds
3 Baths
2,877 SqFt
Status Active
MLS # 6773717
Property Type Single Family Residence
Price Type --
Welcome to Trails End, where Sedona living reaches its peak! This Airbnb dream sits in a premium location, just a minute's stroll from the serene creek and the iconic Tlaquepaque Arts & Shopping Village. Whether you're an investor or a buyer looking for that perfect full-time residence, this property is a true gem! Step inside this 2877 sq ft, single-level home, featuring 4 bedrooms + den and 3 bathrooms, beautifully appointed with all the essentials for comfort and style. From the chef's kitchen designed for gourmet living to the barn-door entry at the primary suite, every detail has been curated to perfection. The home is by a sleek metal roof, but the real magic happens outdoors. Nestled beneath majestic sycamore trees, the expanded and renovated backyard is your personal sanctuary. Picture yourself under covered and open-air patios, enjoying Sedona's starlit skies around the outdoor firepit. There's even a greenhouse for the gardening enthusiast currently used as an art studio and a hot tub to unwind in style. And let's talk functionalitythis home is loaded! The 2-car garage boasts oversized dimensions and a side yard that could easily transform into a gated RV area. There's plenty of parking both outside the front wall and along the garage driveway, so you'll never have to worry about space. Offered move-in ready, fully turnkey, furniture dishes and linens (excluding personal art pieces). Come experience the WOW factor for yourself!

33601 N 64th Street Scottsdale, AZ 85266

$1,595,000
4 Beds
2.5 Baths
3,009 SqFt
Status Active
MLS # 6762787
Property Type Single Family Residence
Price Type --
First, this home has an assumable VA loan at 2.75% with a loan a balance of approximately $556k. Great leverage for the qualified buyer and they don't have to be a Veteran. This stunning 3,009 square foot home located in the desirable Terravita Country Club offers a perfect blend of luxury and comfort. With four spacious bedrooms and 2.5 bathrooms, this property caters to both relaxed living and entertaining. As you enter, you are greeted by abundant natural lighting due to the large windows and high ceilings that create an airy, open atmosphere. The expansive living areas feature all tile floors, providing a sleek and modern look that's also easy to maintain. The heart of the home is the gourmet kitchen, which boasts beautiful quartz countertops, ample cabinetry, and top-of-the-line appliances, making it a chef's dream. The adjacent dining area is perfect for family gatherings or entertaining guests, with views of the backyard oasis with heated spool. The primary suite is a true retreat, featuring a generous layout and a luxurious ensuite bathroom with modern fixtures, a therapy tub, and a spacious walk-in shower. The additional bedrooms are well-sized and share a stylish full bath, while a convenient half bath is available for guests. Step outside to discover the heated play pool, ideal for year-round enjoyment, whether for relaxation or entertaining. The outdoor space also includes a covered patio, perfect for alfresco dining or lounging under the stars. With a three-car garage, this home provides ample parking and storage options. Located within the prestigious Terravita Country Club, residents enjoy access to top-notch amenities, including golf, fitness facilities, and social activities. This property is perfect for those who appreciate a blend of elegance and functionality in a community-oriented environment.

110 W Glenn Drive Phoenix, AZ 85021

$1,595,000
4 Beds
4 Baths
2,675 SqFt
Status Active
MLS # 6786084
Property Type Single Family Residence
Price Type --
A must-see! This quintessential North Central Phoenix ranch home is nestled between the coveted 7's, exuding charm and warmth. Step inside to find beautiful hardwood floors in the kitchen and third bedroom, with crown molding and elegant wood shutters throughout. The primary bedroom offers a cozy sitting area complete with a fireplace and a spacious walk-in closet. The sun-filled living room boasts a fireplace and large windows. The family room opens up to a large stone patio, perfect for outdoor entertaining. Additionally, there's a detached guest suite with a bedroom and bathroom, perfect for visitors, in-laws, or a home office. Situated on a generous 19,610 sq. ft. lot in a picturesque cul-de-sac, this is an incredible opportunity to live on one of the most desirable streets in North Central Phoenix. Don't miss out!

11999 N 80th Place Scottsdale, AZ 85260

$1,595,000
3 Beds
2 Baths
2,473 SqFt
Status Active
MLS # 6784969
Property Type Single Family Residence
Price Type --
Dramatic $500k plus recently remodeled home in the prestigious guard gated community of Scottsdale Country Club East 9. Three bedroom, two bath home with heated pool and spa. Formal dining room open to the living room with stunning fireplace. Amenities include front yard landscape maintenance, guard gated services and tennis courts.

34 W State Avenue Phoenix, AZ 85021

$1,595,000 - 4Br/3Ba -  for Sale in Town & Country Groves, Phoenix
New
$1,595,000
4 Beds
2.5 Baths
3,423 SqFt
Status Active
MLS # 6788411
Property Type Single Family Residence
Price Type --
STOP THE CAR! YOUR DREAM HOME AWAITS! Situated on one of the most sought-after cul-de-sac streets in North Central, with the iconic Bridle Path in the rear view, this home offers thoughtful design and effortless living. The chef's kitchen is a true showpiece, featuring quartz countertops, modern custom cabinetry, a breakfast bar that seats five, and a sleek induction oven. It easily opens to the family room, where a large picturesque window frames stunning views of the backyard. The spacious owner's suite, a thoughtful addition, is a sanctuary of luxury with soaring 10-foot ceilings, dual walk-in closets, and a spa-inspired bathroom. Step outside, the private backyard escape is perfect for entertaining or relaxing. Highlights include a built-in BBQ, flagstone and paver walkways, and lush turf grass. A 300-square-foot detached building, currently used as a gym with its own split AC unit, adds versatility and functionality to the space. This home is further enhanced by dual-pane windows throughout, AC units installed in 2021, and a prime location near North Central's best dining and shopping. This is the one you've been waiting for!

10688 E Butherus Drive Scottsdale, AZ 85255

$1,595,000
4 Beds
3.5 Baths
3,509 SqFt
Status Active
MLS # 6762116
Property Type Single Family Residence
Price Type --
Beautifully updated home nestled in gated Desert Cliffs in McDowell Mountain Ranch. GORGEOUS MOUNTAIN VIEWS backing to a wash with no one behind! The resort-like backyard oasis features a pebble tech pool w/ water feature, putting green, stone-encased spa w/ a pergola, and a custom-built BBQ entertaining area. Inside is a beautifully remodeled kitchen w/ an oversized granite island, white shaker cabinets, & stainless appliances. Wood-look tile floors are featured throughout the downstairs, additional custom cabinetry in the dining room, & designer paint throughout. Master bedroom is DOWNSTAIRS. Upstairs has 3 spacious bedrooms, 2 bathrooms, loft area and HUGE bonus room which works as the perfect 'game room', office or 5th bedroom. New HVAC upstairs (2020), HVAC downstairs (2023). WOW The three-car garage includes built-in storage cabinets and a water softener. Award-winning McDowell Mountain Ranch is a premier master-planned community located in North Scottsdale. Situated at the foothills of the McDowell Mountains, enjoy the beautiful desert serenity, yet also have all the conveniences of living in-town just outside the neighborhood. The 101 Freeway is 5 minutes away, as well as restaurants, shopping, groceries, and so much more! This friendly neighborhood features 2 heated community pools/spas, playgrounds, basketball courts, tennis courts, and one of the best Pickleball leagues in town! The HOA hosts several events throughout the year for everyone to enjoy and connect with neighbors. Numerous trails, both paved & unpaved that, meander throughout the community. McDowell Mountain Golf Club, designed by Phil Mickelson, with the clubhouse & restaurant, is open to the public. The City of Scottsdale Aquatic Center w/lazy river & Library is close by in addition to miles and miles of hiking, biking & equestrian trails at the landmark Gateway to the McDowell Sonoran Preserve trailhead.

9695 E Addy Way Scottsdale, AZ 85262

$1,595,000
3 Beds
2.5 Baths
3,558 SqFt
Status Active
MLS # 6763072
Property Type Single Family Residence
Price Type --
Gorgeous home in the private Montecito at Mirabel gated community, available fully furnished, features incredible resort-like backyard, spacious cul-de-sac lot of nearly one acre, spectacular mountain views! Comfortable, spacious family room w/ fireplace & large sliding doors to patio, ideal space to relax & entertain while taking in tremendous views. Elegant eat-in kitchen, gleaming SS Wolf & Sub-Zero appliances, rich espresso cabinetry, granite counters, custom backsplash, huge island w/ bkfst bar, convenient butler's pantry. Luxurious primary suite, gorgeous bathroom, dual vanities, 2 walk-in closets. Backyard is a peaceful outdoor paradise w/ sparkling pool & water feature, spa, covered patio, gorgeous travertine pavers, 2 raised seating areas, firepit, outdoor BBQ station, more... Bright, open layout of this home is very warm & inviting w/ high ceilings & lots of natural light. Entire exterior of the home has been newly repainted. Rich wood-look plank tile flooring in living areas, and quality plush carpeting in bedrooms & dens. Two secondary bedrooms both very light & spacious each w/ walk-in closets w/ beautifully appointed bathroom in between. Two dens at the front of the home, each could be an amazing home office. The larger of the two dens could easily be converted to a 4th bedroom, or could be a home theater, game room, or second family room. The other den could also serve as a convenient dining room. Endless possibilities for both spaces! Two 2-car garages offer plenty of parking and storage space. Large front courtyard w/ stacked stone fireplace offers another private space to relax & enjoy your beautiful surroundings. Plenty of room in this courtyard space to add-on or build a separate casita if desired. This is truly a magnificent property offering some of the finest mountain views in all of Mirabel. Don't miss the opportunity to view this beautiful home today.

6808 N 13th Street Phoenix, AZ 85014

$1,595,000
4 Beds
3.5 Baths
2,607 SqFt
Status Active
MLS # 6767254
Property Type Single Family Residence
Price Type --
This brand new 2024 home beautifully blends eco-living with nature. Inside, the soaring 10-foot ceilings and clerestory windows fill the home with natural light. The kitchen, featuring a stunning quartzite stone island, 36-inch induction range, European cabinets to the ceiling, and a walk-in pantry, provides ample space for cooking and storage. A 20-foot sliding door opens the living area to the outdoors, creating a seamless indoor-outdoor flow. The primary suite boasts two walk-in closets, a spa-like bathroom with a soaking tub, and calming murals that add an artistic touch. Outdoors, a unique permeable driveway minimizes heat, while Kurapia ground cover provides a lush, low-maintenance, green landscape year-round. The large, sunlit diving pool is surrounded by a cool limestone deck that stays cooler in the summer. The shaded covered patio offers a relaxing space to enjoy the natural surroundings, including the preserved Afghan pines, which create a dappled, cool ambiance and are home to many hummingbirds.

7674 E Aster Drive Scottsdale, AZ 85260

$1,595,000
3 Beds
2.5 Baths
2,608 SqFt
Status Active
MLS # 6768836
Property Type Single Family Residence
Price Type --
Welcome to pure serenity in this newly renovated home with an organic flare! Discover an excellent curb appeal featuring a 2-car garage, a convenient RV gate, and a well-maintained landscape. Venture into a spacious floorplan with stunning interiors showcasing soaring ceilings, an abundance of natural light, warm wood flooring, a wet bar for entertaining, and a cozy fireplace for intimate evenings. Cook gourmet meals in the delightful kitchen, equipped with quartz counters, abundant wood cabinetry, chic pendant lightings, a tile backsplash, stainless steel appliances, and a large island with a breakfast bar. The master retreat is simply divine, complete with an expanded bath and closet with separate vanities, large walk-in shower and stand-alone tub Enjoy outdoor moments in the enchanting backyard, offering a covered patio, pristine artificial turf, and a refreshing pool. This home has everything! Located in a tranquil community in the heart of Scottsdale. Come see this beauty!

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