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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2538 N 91st Place Mesa, AZ 85207

$1,235,000
4 Beds
3 Baths
2,983 SqFt
Status Active
MLS # 6745151
Property Type Single Family Residence
Price Type --
BUYER FAILED TO PERFORM! Welcome to this exquisite custom home built on a county island so it is secured and quiet but close to all modern conveniences. This 4 bedroom, 3 bath home with a 3 car garage will be sure to impress and is move-in ready. Excellent curb appeal and well manicured lawn welcome you home. Enter the iron and glass front door to a massive great room with vaulted ceilings with wood beams that also overlooks the thoughtfully designed back yard and mountain views. Luxury vinyl plank flooring throughout the entire home makes it great for keeping it clean and sanitary. Enjoy a large generational suite or home office with living area, kitchenette and bedroom attached to a full bath. It feels like its own studio apartment. The split floor plan offers privacy for the master retreat. The master is very generous in size and offers a luxurious spa-like bathroom with a large freestanding soaker tub with amazing mountain views right out your bathroom. Adding dual vanities, upgraded tile shower and 2 walk-in closets with custom built-ins are exactly what you would expect in a home of this caliber. Outside is a fully landscaped, eco-friendly backyard, with drips for plants and synthetic grass. Entertain for all of your upcoming bbq's and events with the large patio, built-in pergola, upgraded swimming spa, extensive paver patio and walking paths, fenced yard with RV gates to pull through, RV hook-ups and so much more. The over-sized 3 car garage and large drive with RV gates are also a nice addition. This beautiful custom home is move-in ready so do not miss your opportunity to call this home!

1417 E Cherrywood Place Chandler, AZ 85249

$1,230,745
4 Beds
3 Baths
2,828 SqFt
Status Active
MLS # 6782176
Property Type Single Family Residence
Price Type --
Furnished single-story model home in the gated community of Treeland. The home offers a Southwest exterior featuring 4 bedrooms, 3 bathrooms, a den, game room and attached 3-car garage. The kitchen features stainless steel built-in GE Monogram appliances including a 36'' gas cooktop and quartz countertops with a waterfall edge at the island. Other highlights include a 12' multi-slider at the great room, Sonoma painted black cabinets with stacked uppers, coffered ceiling in the foyer and primary suite, frameless walk-in shower at the primary bath, 6'' X 36'' wood look floor tile, extended dining room and covered patio, washer, dryer and 42'' GE Monogram refrigerator. Purchase now with delayed close of escrow targeted for the end of April, 2025, or earlier at Seller's discretion w/notice.

16229 E Blue Sky Drive Scottsdale, AZ 85262

$1,230,000
4 Beds
3.5 Baths
3,042 SqFt
Status Active
MLS # 6759183
Property Type Single Family Residence
Price Type --
Amazing custom home with horse privileges nestled in the breath taking mountain setting of North Scottsdale. This wide open floor plan is complete with huge fireplace, custom cabinetry in the great room and custom roller shades on every window. The kitchen is every chefs dream with built in stainless steel appliances, huge walk in pantry w/ prep area, giant waterfall- style kitchen island w/ quartz counters, real wood cabinetry and custom stone backsplash. You will find luxury hardwood and tile throughout the home. Enter the master retreat to find the amazing super shower, pedestal soaking tub, his & hers sinks and huge walk in closet. Oversized garage with custom built in cabinets. This acre lot has plenty of room for your pool, horse facility, shop and so much more.

8411 E Windrunner Drive Scottsdale, AZ 85255

$1,230,000 - 3Br/3Ba -  for Sale in Grayhawk Parcel 3k(a), Scottsdale
Open House
$1,230,000
3 Beds
3 Baths
2,552 SqFt
Status Active
MLS # 6773652
Property Type Single Family Residence
Price Type --
Welcome to this gorgeous Monterey home in Grayhawk's Talon Retreat, just steps away from the community heated Pool and Spa! This home has been extensively remodeled with almost $300,000 in upgrades and Improvements in the last 4 years, including resurfaced roof in 2023 and TWO completely replaced HVAC systems in 2024! The Retreat is a 24-hour guard gated neighborhood that is the epitome of luxury living in one of Scottsdale's premier Golf Communities. This home is absolutely turnkey, and it's perfect as a primary residence or as a winter retreat. The low maintenance backyard provides unparalleled privacy and peacefulness. When you enter this home, you are immediately greeted with lovely French oak wide plank flooring which runs through the main home and bedrooms. This large open room concept floor plan and 12 ft ceilings, maximizes the 2500 square feet, and the wall of glass and natural light, brings the outdoors inside! The kitchen has been completely remodeled with a large entertainer kitchen island, quartz countertops, Wolf and Sub-Zero appliances and a fabulous bay window breakfast nook. Did I mention how much natural light is in this home? You will be blown away by the outdoor / indoor living in this one of a kind property. The primary suite has been remodeled as well with a huge double vanity, top of the line fixtures, tile flooring, giant vanity mirror, and a floor to ceiling tile and glass shower. Open the barn door to find a large walk-in closet that has tons of organized space, and there are additional linen cabinets to meet all of your storage needs. The Primary bedroom has a slider door which has access to the backyard retreat. The front bedroom is another Primary bedroom with its own en-suite bathroom and walk- in closet. There is a large office or den space with fantastic built-in shelves and desk. This space could easily be enclosed to make a formal bedroom, because there is a third full bath right around the corner. The oversized laundry room has tons of cabinets, Quartz countertops, full size front load LG washer and dryer and a new mud sink and cabinet, and leads out to the two car garage with custom cabinets, a water filtration system, and a newer oversized water heater with recirculation pump. This property is truly one of a kind and has been lovingly cared for over the last 4 years.

840 S Vulture Mine Road Wickenburg, AZ 85390

$1,225,900 - 5Br/5Ba -  for Sale in None, Wickenburg
New
$1,225,900
5 Beds
4.5 Baths
3,214 SqFt
Status Active
MLS # 6779476
Property Type Single Family Residence
Price Type --
Exceptionally flexible prime land property, ready for use as a turnkey B&B, VRBO, or an exclusive residence located within town limits. Perfect for horse enthusiasts, features a haybarn (80x30) w/ RV hookups. Stationary and movable pens. Main house: Open floor plan with a gas fireplace and wet bar in the living room-picture windows-mountain views. Three spacious bdrms & two attached Casitas, with each having a separate mini split: Each equipped with a full bathroom, & private patio entrance. X-large laundry room with storage, a half bath and utility sink. Second laundry room off casita. Detached garage/workshop And more... OWNER/AGENT

16580 N 92nd Street Unit 2001 Scottsdale, AZ 85260

$1,225,000
2 Beds
2.5 Baths
2,004 SqFt
Status Active
MLS # 6782882
Property Type Apartment
Price Type --
RARELY AVAILABLE in Soho Scottsdale 2 BR+Den Condo. FULLY FURNISHED, IMMEDIATELY AVAILABLE, MOUNTAIN VIEWS and UNDERGROUND PARKING. Amazing LOCATION... near Westworld, Ice Den and the 101. This like-new property has TWO EN-SUITE BEDROOMS, plus spacious DEN and powder room with a magnificent kitchen optimized for entertaining and efficiency with quartz counter tops, contemporary sleek custom cabinetry and GE Monogram Statement appliance suite. With over 2000 interior square feet, the living spaces live large with the soaring ceilings, spacious hallways and modern details found in properties significantly higher priced. Additionally, the condo has TWO PATIOS, rare for a property this size. The home is wired and outfitted for SMART PHONE CONTROL of entry door, lighting, and heating/A Included are two underground, gated parking spaces with semi-private elevator direct to your door. Whether you vacation in or make Arizona your primary residence, SoHo Scottsdale, offers you the lifestyle you have imagined. West World, the home of Barrett Jackson, the Arabian Horse Show along with many other events that make Scottsdale, Scottsdale are within walking distance. The world renowned TPC Golf Course and Waste Management Tournament are just minutes to the west, as is the Scottsdale private airport and a wide variety of shops and restaurants. You are near the 101 that will quickly get you around anywhere in the Valley, or simply zig zag a few miles over to Kierland, The Quarter, golf courses, hiking trails and so much more. For VALUE, LOCATION and appointments... this property simply does not compare to any other luxury condominium on the market today, for those that are looking for exceptional value and one of a kind, SoHo Scottsdale #2001 is your perfect find!

2603 W Espartero Way Phoenix, AZ 85086

$1,225,000
3 Beds
3.5 Baths
3,518 SqFt
Status Active
MLS # 6765868
Property Type Single Family Residence
Price Type --
Just voted BEST ON TOUR! Nestled among multi-million dollar homes with breathtaking mountain & desert vistas. This expansive residence in the highly coveted gated community of Tramonto Estates awaits. Step through an elegant courtyard entry adorned with stunning desert flora. This airy, open home is incredibly welcoming and boasts ample room for entertaining. A formal dining area and a charming living room with a fireplace and a stunning view of the incredible resort yard greet you upon entry. The kitchen and family room are seamlessly connected, providing easy access to the vibrant resort yard featuring a covered patio, artificial turf, built-in BBQ, firepit, and a sparkling pool & spa. Guests will appreciate the two spacious guest rooms, each with its own private ensuite. The owner's suite is inviting with a fireplace, ensuite, and a study with a private entrance ideal for a home office. This home has been immaculately maintained with Owned Solar Panels included(ask for details), a Tesla/EV outlet and new pool heater. You also have access to all of Tramonto's wonderful amenities including 2 pools, spas, tennis courts, parks and sand volleyball.

88 Chapel Road Sedona, AZ 86336

$1,225,000
4 Beds
4 Baths
3,038 SqFt
Status Active
MLS # 6769249
Property Type Single Family Residence
Price Type --
Introducing a rare opportunity in the sought-after Mystic Hills subdivision of Sedona. This custom 3 bedroom, 3 bath home, with an attached 1 bedroom, 1 bath Studio, offers endless possibilities for customization and personalization. Priced as the most affordable home in the neighborhood, this property has already seen some upgrades, leaving the rest for you to make your mark with your own finishes. The attached studio is a versatile space, perfect for extended guests, a home office, or a mother-in-law suite. With the potential to customize to your liking, this home offers the chance to create your own oasis in the heart of Sedona. The proximity to hiking trails and a mountain biking loop makes it ideal for outdoor enthusiasts, while the up close and unobstructed Red Rock views provide a stunning backdrop for daily living. Inside, the home boasts an open and bright layout with high ceilings, expansive windows, a gathering gas fireplace and a split floor plan for added privacy. The primary suite features two walk-in closets, a large master bathroom, and large windows overlooking the native forest. The recently remodeled kitchen offers ample counter space, new appliances, and hardwood Birch cabinets with soft close doors. Step outside onto the expansive deck to enjoy breathtaking majestic views of Elephant Rock, Cathedral Rock, Mother and Chile, the Nuns, Steamboat Rock, Mount Wilson, and The Chapel in the Red Rocks and more brilliant surrounding landscape. The partially covered deck provides the perfect space for relaxation or entertaining, while the attached Studio offers additional living space with its own bathroom, kitchenette and outdoor Jacuzzi. Residents of Mystic Hills enjoy access to a clubhouse with a swimming pool, spa, weight room, and kitchen, as well as regular community activities like tennis, pickleball, hiking and neighbor get togethers. With low HOA dues and a vibrant community atmosphere, experience the beauty and tranquility of Sedona living at its finest.

427 W Louis Way Tempe, AZ 85284

$1,225,000
5 Beds
3.5 Baths
3,674 SqFt
Status Active
MLS # 6769327
Property Type Single Family Residence
Price Type --
Absolutely STUNNING basement home in South Tempe's premier gated community! Five bedrooms PLUS a home theater! Situated on an interior cul-de-sac with an over 18000 sq. ft. lot! NEW ACs, NEW roof, NEW water heater! Four-car garage AND an RV gate with pad! Beautiful highly upgraded plush carpet and travertine tile! Gourmet island kitchen with granite counters, oversized cabinets, even two dishwashers! All bathrooms completely remodeled! There's even a bidet in the master bath! The basement features a theater room (screen & equipment stay), two bedrooms & a bathroom! Bdrm 5 has built-in dual-station desk and a Murphy bed! Huge, private backyard with 5 fruit trees, pond and waterfall! Look for the complete list of extras in the Docs section! Hurry to this one!

5849 E Le Marche Avenue Scottsdale, AZ 85254

$1,225,000
4 Beds
3 Baths
2,863 SqFt
Status Active
MLS # 6783189
Property Type Single Family Residence
Price Type --
Arizona Resort Style Living at It's Best! This home has it all! Remodeled Home with Open Floorplan. Front courtyard greets you! Wood like tile t/o the first Floor. Sunken living room was filled in/leveled for better flow & no step down.Huge family room / fireplace is open to the kitchen. Kitchen offering a large island w/breakfast bar, eat in area Pantry & windows to the backyard. Entertainer's Delight! One bedroom and full bath on 1st Floor.. Upstairs is the Elegant Primary Ensuite w/walk in closet, spa bathroom. Upstairs: 2 additional nice sized bedrooms a full bath. Great storage T/O! Escape to your own Resort yard w/Sparkling Pool. Paver patios, Turf, large covered patio . East side yard is RV/Toy storage w/cover canopy, & RV Gate.NO HOA!Near Everything Shopping/Restaurants/Mayo Near Desert Ridge, Mayo Hospital Campus, 101 Corridor, Kierland, Scottsdale Quarter and MORE! Well Respected Schools Nothing to do but move in! Sellers can close after 1/3/25.

3877 S Veronica Lane Gold Canyon, AZ 85118

$1,225,000
4 Beds
3 Baths
2,989 SqFt
Status Active
MLS # 6787292
Property Type Single Family Residence
Price Type --
Welcome to Montana Dorada, the best kept secret in Gold Canyon Arizona. This single level home is part of an exclusive Modern Farm Desert Collection. Offering paved roads, quick access to the US 60, close to shopping and dining, complete with breathtaking views of the iconic Superstition Mountains at every turn. Offering 2989 livable SF, 4 bedrooms, 3 bathrooms, a large kitchen island, beverage bar, & butler's pantry. This split floorplan offers a large owners suite and guest ensuite both with private access to the large covered backyard patio. All tile throughout with light earthy tones to compliment every style. The developers are offering a 25,000 credit for rate buy down and custom owners closet build out. This new build comes with an oversized 2 car garage complete with epoxy floor.

12487 W Gilia Way Peoria, AZ 85383

$1,225,000 - 3Br/4Ba -  for Sale in Blackstone At Vistancia Parcels B11 B13 And B14, Peoria
New
$1,225,000
3 Beds
3.5 Baths
2,767 SqFt
Status Active
MLS # 6789586
Property Type Single Family Residence
Price Type --
Welcome home to North Peoria's premiere, private, gated community of Blackstone where you will find this exquisite 3 bedroom, 3.5 bath home located at the end of a cul-de-sac with no neighbors behind or to one side. Very popular Westland floor plan boasts an open living concept with gourmet kitchen featuring two tone designer cabinetry with double stacked cabinets, granite slab counter tops, stainless appliances, double ovens, gas cook top with hood, tile backsplash, large island with seating, extended buffet and dining space with an extra flex room all overlooking the amazing great room. Master retreat with shutters and crown molding as well as a spa like en suite with step in shower, soaking tub and walk in closet. Well appointed den and additional bedrooms complete the interior of this amazing home. Outdoor living is just as impressive with covered patio over looking the extended travertine area, heated pool and spa, gas fire pit and built in BBQ. View fencing allows for great mountain and desert views. This home is a real jewel in the desert!!

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