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.

What’s Your Home Worth?

Search for Your New Home

18140 W Oregon Court Litchfield Park, AZ 85340

$1,200,000
4 Beds
4.5 Baths
3,180 SqFt
Status Active
MLS # 6776173
Property Type Single Family Residence
Price Type --
Discover your desert retreat in this beautifully designed single-story home, where elegance meets comfort! Impressive curb appeal is highlighted by a low-maintenance desert landscape, modern stepping stones, stylish stone accents and outdoor lighting for that welcoming atmosphere. Step inside to discover an inviting open concept layout, accentuated by modern tray ceilings, recessed lighting and modern shiplap accent walls. This home features a neutral paint scheme that complements the crisp white plantation shutters. Warm wood-look tile floors provide a seamless flow throughout. Selling points include a culinary paradise in this stunning kitchen with a true butlers pantry, generous island with stylish pendant lighting, a gas cooktop, ample cabinet space, tile backsplash and modern hood. The primary bedroom showpieces a spacious walk-in closet with custom built-ins, while the ensuite offers a true spa retreat! An added distinction here is the attached RV garage which will accommodate all your adventures! This stunning residence features a serene backyard oasis with a glistening pool, a stack stone gas fireplace, and a fully equipped covered outdoor kitchen. You'll find this beautifully designed space creates the perfect sanctuary for year-round enjoyment!

34198 S State Route 89 Highway Wickenburg, AZ 85390

$1,200,000
4 Beds
4 Baths
2,836 SqFt
Status Active
MLS # 6782506
Property Type Single Family Residence
Price Type --
Introducing a soon-to-be-completed, luxurious custom estate spanning over 4 acres of prime Wickenburg horse property! Step into a grand chef's kitchen that features high-end appliances, an expansive walk-in pantry & a generously appointed laundry room complete with a deep sink and abundant storage. The main residence offers three spacious en-suite bedrooms, plus a versatile flex room perfect for an office or additional bedroom. The primary suite serves as a private sanctuary, showcasing a spa-inspired bathroom w/ dual vanities, an oversized walk-in shower & a grand closet. An attached private casita, accessible from within the main house or through a separate exterior entrance, provides guests w/ a retreat featuring a kitchenette, full bathroom & a spacious walk-in closet. For car enthusiasts, a massive four-car garage offers ample space for vehicles and recreational gear. This is more than just a home; it's a lifestyle opportunity awaiting you in Wickenburg's most coveted location. Don't miss your chance to make this luxurious property your own!

3046 E Crest Lane Phoenix, AZ 85050

$1,200,000 - 3Br/4Ba -  for Sale in Sky Crossing Parcel 5.2, Phoenix
New
$1,200,000
3 Beds
3.5 Baths
2,875 SqFt
Status Active
MLS # 6785224
Property Type Single Family Residence
Price Type --
**Stunning 3-Bedroom Home in Highly Desirable Astarea at Sky Crossing** Nestled within the enchanting community of Astarea at Sky Crossing, this exquisite 3-bedroom, 3.5-bath home is a true sanctuary where modern luxury meets unparalleled comfort. With a perfect blend of high-end finishes and thoughtful upgrades, every detail has been meticulously designed to create an inviting and functional living space. From the moment you step through the striking iron front door, you will be captivated by the beautiful aesthetic and exceptional features of this remarkable residence. Upon entering, you are welcomed by the warm glare of natural light cascading over the wood-look tile flooring, which stretches throughout the home, exuding both warmth... Click on ''More'' and contemporary charm. The open-concept floor plan facilitates a seamless flow between the living spaces, providing an ideal setting for entertaining guests or enjoying quality time with family. The spacious living areas are versatile and can be tailored to meet your lifestyle needs, making it easy to envision the countless memories waiting to be made in this delightful abode. At the heart of this home lies a gourmet kitchen that any aspiring chef would envy. Designed for functionality and elegance, the kitchen features stunning quartz countertops that magnificently complement the array of high-end appliances. The centerpiece of this culinary haven is the impressive waterfall island, which not only serves as a practical workspace but also as a gathering spot for family and friends. Equipped with a premium cooktop, double ovens, and a sleek French door refrigerator, the kitchen is designed to support your cooking ambitions and elevate your dining experiences. Adjacent to the kitchen, the charming breakfast room features a beautifully designed feature wall, creating an inviting atmosphere perfect for casual meals. With its generous walk-in pantry and extensive built-in cabinets in both the laundry room and office, this home offers abundant storage solutions to keep your living spaces organized and clutter-free. **Luxurious Primary Suite:** Retreating to the generously sized primary suite, you will find a true oasis of relaxation. This exquisite space features a beautifully-appointed ensuite bath that exudes sophistication. From the elegant fixtures to the tranquil atmosphere, this spa-like retreat allows you to unwind in luxury after a long day. The impressive closet includes custom built-ins to accommodate your wardrobe, and even contains a built-in safe for your valuables, ensuring that both functionality and security are prioritized. One of the standout features of the primary suite is the expansive laundry room conveniently located just off the primary bath. This thoughtful design adds an additional layer of functionality and ease to your daily routines, making laundry chores more manageable and streamlined. Stepping outside, you are greeted by an expansive, beautifully landscaped yard that serves as your outdoor oasis. The large, lush turf invites outdoor play and leisure. At the same time, the view fence enhances your outdoor experience, allowing for a feeling of openness that amplifies the natural beauty surrounding your home. The covered patio provides the perfect setting for relaxing at the end of a busy day or for entertaining guests on warm evenings, creating memories amidst the beauty of nature. With north-south exposure, this property boasts a unique balance of sunlight and shade, making it a year-round haven that caters to your outdoor lifestyle desires. Whether it's enjoying a quiet morning coffee, hosting a barbecue, or simply unwinding with a good book, this outdoor living space offers endless possibilities. This exceptional home comes adorned with several additional features that elevate the living experience. Both garages are equipped with custom cabinets, providing optimal organization and storage for your vehicles and outdoor gear. Enhance your indoor ambiance with custom window treatments, including plantation shutters and electric roller shades that allow for both privacy and natural light. The generous amount of recessed lighting throughout further enriches the home's elegant aesthetic while providing a welcoming glow to every room. This stunning 3-bedroom residence seamlessly merges luxury with comfort, providing an idyllic escape for its future owner. With meticulously designed spaces, thoughtful upgrades, and a serene outdoor oasis, this home caters to all your lifestyle needs and aspirations. Don't miss your chance to experience the charm and elegance that awaits in this extraordinary property. Set up your private tour today and take the first step toward making this exceptional home your own!

8502 W Cavalier Drive Glendale, AZ 85305

$1,200,000
4 Beds
2 Baths
2,600 SqFt
Status Active
MLS # 6727787
Property Type Single Family Residence
Price Type --
Country living at its finest & located in the heart of Glendale! RV GARAGE&SHOP This home offers you 4 bedrooms + office,2 bathrooms, formal living area, huge laundry room, spacious family room with fireplace, upgraded kitchen w/island & dual ovens, tiled floors, & huge pantry. Outside you can enjoy the glassed in AZ room, hard to find diving pool & gazebo. The detached RV garage is 80x24 approx. , can fit 6 cars, roll down doors & has its own bathroom. Perfect for your toys, workshop or a future guest house. Neatr HEROES PARK, dead end street, slump block construction, mature shade trees, & extra covered area *shed in back All this & close to shopping, restaurants, schools, parks, Cardinals Stadium & Westgate entertainment district. A must see home!

5605 W Darius Circle Prescott, AZ 86305

$1,200,000
4 Beds
4 Baths
5,539 SqFt
Status Active
MLS # 6775543
Property Type Single Family Residence
Price Type --
This luxury home in Whispering Canyon is the epitome of elegance, combining masterful craftsmanship with stunning design and sweeping views of Granite Mountain. Thoughtfully designed for both entertaining and everyday living, this custom-built residence offers main-level living with an open, light-filled great room floor plan. The chef's kitchen is truly a culinary masterpiece, featuring a 6-burner gas range with dual ovens, a butcher block island, walk-in pantry, and an adjoining wine room/butler's pantry. Throughout the home, you'll find exquisite details such as hand-scraped walnut flooring, custom alder cabinetry, stone accents, and intricate built-ins. The dining room is a showstopper with its beamed, tongue and groove ceiling, accented by illuminated rock features. Assumable loan. The spacious master suite offers luxurious touches, including a two-sided gas fireplace, double-tier tray ceiling, and a travertine bathroom. A rich wood tray ceiling and built-ins make the private office ideal for working from home. The upper-level covered Trex deck is perfect for outdoor entertaining, featuring a gas fireplace and built-in BBQ, all while enjoying panoramic mountain views. The lower level is a private retreat, complete with a kitchenette, bonus/media room, a large bedroom suite with a full bath and walk-in closet, and a family/game room with a dry barideal for multi-generational living or an in-law suite. Additional features include a versatile bonus/exercise/storage room, a workshop with both interior and exterior access, and a lower-level covered patio with faux grass and a partially fenced yard. With four fireplaces and an oversized 3-car garage, this home seamlessly blends luxury and functionality, offering the perfect lifestyle for those seeking both comfort and sophistication.

17831 N 53rd Street Scottsdale, AZ 85254

$1,200,000
4 Beds
3 Baths
2,719 SqFt
Status Active
MLS # 6760872
Property Type Single Family Residence
Price Type --
Welcome to this wonderful, bright Triple Crown home situated on spacious lot with beautiful grass and trees, a inviting outside space for entertaining family and friends. A large patio features a fire pit and outdoor cooking island equipped with gas grill, and bar. This home also has R.V. gate. Inside , you'll find open kitchen and family room design that enhances flow of living space. French doors lead to a spacious tiled patio, allowing seamless indoor-outdoor living. Throughout the home, white shutters add elegance, beautiful wood floors in living area and master suite. Welcoming kitchen overlooks family room and offers plenty of cabinets, granite counter tops and island/ additional work space. A large pantry provides ample storage for all needs. Dining options include a cozy area in the family room as well as formal dining room ad

5455 E Lincoln Drive Unit 2019 Paradise Valley, AZ 85253

$1,200,000
-- Bed
1 Bath
1,005 SqFt
Status Active
MLS # 6757668
Property Type Apartment
Price Type --
Beautiful Views, Great location - perfect lock and leave property! Mountain Shadows Resort Condominiums invites you to experience an exclusive lifestyle. Situated below Camelback Mountain as a breathtaking backdrop, the community features 41 condominiums and lofts that seamlessly blend comfort and luxury. Enjoy a serene Paradise Valley setting and full privileges at Mountain Shadows resort. Pricing includes furnishings, fixtures and equipment. All furnished units are eligible to participate in the rental program for the Resort!

3348 E Eva Street Phoenix, AZ 85028

$1,200,000
4 Beds
2 Baths
2,597 SqFt
Status Active
MLS # 6767179
Property Type Single Family Residence
Price Type --
This lovely contemporary ranch style home facing the Preserve on quiet Eva St is just steps from Trail 100. NO HOA. The landscaped backyard features a spacious covered patio including covered decking over inground pool for comfortable outdoor living and entertaining. Enter through custom steel doors to travertine floors, formal living room with mountain views, dining room with abundant built-in cabinetry, kitchen with granite countertops opening to the family room; en-suite master bedroom with 2 walk-in closets with skylight; jetted tub, walk-in shower with 2 showerheads; double sinks; privacy half wall for commode; 3 additional bedrooms; one currentlyt an office with built-in cabinetry and desks; laundry room with abundant cabinetry; bar sink; solar panels (owned) keep costs low; built-in garage cabinets; electric garage door opener; soft water (owned); drink water filtering system; glass top electric range with double ovens; 2 water heaters (master bedroom has a separate water heater); circular drive-way with pavers; solar panels (owned); well maintained home with multiple upgrades. Wonderful neighborhood with easy access to services; Hwy 51; the Phoenix Mountain Preserve; 32nd St and Shea and not far from Tatum shopping areas.

5850 E Le Marche Avenue Scottsdale, AZ 85254

$1,200,000
4 Beds
2.5 Baths
2,421 SqFt
Status Active
MLS # 6760120
Property Type Single Family Residence
Price Type --
Experience the perfect blend of masterful design and contemporary luxury in this stunning Spanish-style home, ideally situated in the much sought-after Scottsdale community of Spanish Wells. The meticulously landscaped exterior pays homage to the beauty of the Southwest while being lush and green. Step inside to find an inviting, light-filled space adorned with calming neutral tones, allowing for personal expression and style. The kitchen offers an expansive quartz center island that serves as a striking centerpiece, surrounded by ample cabinetry, sleek quartz surfaces, and stainless-steel appliances. The true highlight of this home is the outdoor oasis, a breathtaking lush landscape complete with a sparkling blue pool and multiple patio areas, perfect for enjoying the Arizona sunshine! Adjacent to the kitchen is a charming breakfast nook that boasts a generous bay window with an inviting view of the lush landscaping, multiple patios and sparkling pool. The family room, anchored by a beautiful fireplace and yet more great views of the resort style backyard and pool invites relaxation and tranquility. Each of the spacious bedrooms offers comfort and versatility for any family

21864 E Sunset Drive Queen Creek, AZ 85142

$1,200,000
5 Beds
4.5 Baths
3,203 SqFt
Status Active
MLS # 6760441
Property Type Single Family Residence
Price Type --
Welcome to 21864 E Sunset Dr, a stunning home in the heart of Queen Creek! This beautifully maintained property boasts 5 bedrooms, 4 1/2 baths, separate den, spacious living areas, and a kitchen perfect for entertaining. Enjoy3 the Arizona sunsets from your private backyard oasis, complete with covered patio, natural gas outdoor bbq and a beautiful pool. Located in a quiet, friendly neighborhood, this home offers easy access to parks, shopping, dining, and top-rated schools. Don't miss the opportunity to make this house your home.

2204 N Maple Avenue Huachuca City, AZ 85616

$1,200,000
6 Beds
6 Baths
7,154 SqFt
Status Active
MLS # 6762067
Property Type Single Family Residence
Price Type --
Absolutely stunning property! Live in all or part with CUP create an income property. Perfect for events. Manicured gardens surround the impressive two-story main house, which boasts over 5100 sq ft and a grand entryway. Generously appointed rooms, exude a sense of grandeur in this upscale estate. Equally remarkable is the guest house, over 3,000 sq ft of inviting space. Additionally, there's a versatile multi-use pavilion spanning nearly 1500 sq ft for a game room, home theater, event reception area, or even a second guest quarters—endless possibilities await! The property also features a pool house, greenhouse, and utility/gym room. Enjoy the expansive 1220 sq ft workshop/garage, along with a large, three-sided covered carport for vehicle/equip. storage & potential ample event parking.

230 S Val Vista Road Apache Junction, AZ 85119

$1,200,000
3 Beds
4 Baths
2,452 SqFt
Status Active
MLS # 6768841
Property Type Single Family Residence
Price Type --
This stunning territorial-style home offers breathtaking panoramic views of the Superstition Mountains and features a beautifully designed, easy care desert landscape, inspired by the Boyce Thompson Arboretum. This very private property, bounded by stucco walls and botanic byways, includes 3 bedrooms and 3.5 baths, with tall beamed ceilings and walls of windows to take in the unforgettable views, along with a detached guest casita. There is a spacious 2,000 sq ft RV garage with a car lift and two air-conditioned offices, ideal for remote work, a home-based business or an artist's studio space. Enjoy year-round resort living with a heated pool and spa. Situated on 1.3 acres, the home features multiple gated, verdant, shaded courtyards, outdoor living spaces perfect for alfresco entertaining, all with their own outstanding views of the surrounding desert. Don't miss out on this incredible desert oasis!

Leave a Reply

Your email address will not be published.