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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1326 N Central Avenue Unit 411 Phoenix, AZ 85004

$599,000
2 Beds
2 Baths
1,655 SqFt
Status Active
MLS # 6758669
Property Type Apartment
Price Type --
Highly sought after 3-level loft, 2 bed/2 bath plus office/den in an award-winning building with the perks of urban living. Refined minimalist design with industrial touches throughout the unit. Must be seen to be fully appreciated. Take in amazing views of the North and West Valley through the expansive picturesque windows, and enjoy sunsets from the private rooftop deck with a spectacular downtown view. Located within walking distance to the light rail, Margaret T. Hance Park, and Central Library. Situated directly south of the Phoenix Art Museum and north of Downtown. Art, recreation, sports, music, and the incredible city dining scene just outside your doorstep!

44449 W Canyon Creek Drive Maricopa, AZ 85139

$599,000
5 Beds
3 Baths
3,930 SqFt
Status Active
MLS # 6759318
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the highly desirable Cobblestone subdivision of Maricopa! This stunning 5-bedroom, 3-bathroom residence spans 3,929 sq.ft. of nicely upgraded living space. The modern kitchen boasts sleek stainless steel appliances, beautiful quartz countertops, kitchen island and lots of storage. Upstairs you'll find spacious loft and oversized bedrooms for all the guests or family. Step outside into your expansive backyard oasis, complete with a built-in grill, Blackstone griddle and PIZZA OVEN, with a large SPARKLING HEATED POOL AND SPA —ideal for Arizona's sunny days and cool evenings. With ample space, luxurious features, and a prime location, this home offers everything you need for comfort and style. Don't miss the chance to make this your forever home

160 N Forgeus Avenue Tucson, AZ 85716

$599,000
3 Beds
2 Baths
1,840 SqFt
Status Active
MLS # 6781329
Property Type Single Family Residence
Price Type --
Prestigious Sam Hughes Neighborhood in a limited 9 lot home community on Forgues Ave. This 2 story, 3bedroom, 2 bath home is located in the heart of Sam Hughe walking distance to Sam Hughes Elementary and even the old Rincon Market now as Floras Market Run. All Garages are in the back of the homes allowing great curb appeal. This home has only been owed by one family. Large living room with built in entertainment area. The down stairs has a step down to living room area from entry. Step down to hallway to bathroom and 2 bedrooms. Stairway upstairs for split master bedroom private with master bath. Roman jacuzzi bath tub, pedestal sinks, separate shower. Large walk-in... closet. Vaulted ceilings, separate laundry room, 2 car garage entry from laundry area. Kitchen with eat in area and built in ovens. Back yard enclosed with jacuzzi and grass area. Investor property. Needs remodeling. Power of attorney is selling home and limited info. Home is being cleaned out and pictures coming soon. Selling home As Is. Nov 30th viewing available BY APPOINTMENT ONLY between 10am-2pm. Proof of funds required prior to viewing. Email to co-listing agent. See private remarks regarding access, notices. DO NOT DISTURB elderly resident! All offers are being reviewed in 30 days. No EXCEPTIONS. Offers accepted with 2 additional back ups.

1014 S 2nd Street Phoenix, AZ 85004

$599,000
4 Beds
3 Baths
1,897 SqFt
Status Active
MLS # 6759017
Property Type Single Family Residence
Price Type --
This property features two separate homes, each with its own private ingress and egress, making it ideal for rental income or living in one and renting out the other. Both homes are enclosed with block wall privacy. The front home offers 2 bedrooms and 2 bath. While cozy, it has been updated with tile flooring, a fully tiled tub surround, and an all-tile shower in the second bath. Dual-pane windows throughout improve energy efficiency. The rear house is newer, with 2 bedrooms, 1 bath and 1,008 sqft of living space. Together, the two homes provide almost 2,000 sqft of total living area. Conveniently located very close to Chase Field, Footprint Center, major freeways and all of what downtown Phoenix has to offer!

3267 Huckleberry Way Wickenburg, AZ 85390

$599,000
2 Beds
2 Baths
1,700 SqFt
Status Active
MLS # 6759265
Property Type Single Family Residence
Price Type --
Magnificent view of 13th Green on the Championship Course! Step thru the front door into this highly upgraded Beacon Floor Plan. From tile throughout the home to the stunning kitchen granite counters this home has everything. SS appliances, large center island, pull out shelving for the soft close cabinet doors, elegant pendant lights for entertaining guests. Primary w/same granite counters, dual sinks & Walk-in closet. Great room with multi-sliding glass door leads you out to the amazing extended patio and views. This floor plan comes with a separate Den and Guest Suite w/Hall Bathroom. Stop by today to make this once in a lifetime your next home!

1524 E Dublin Street Gilbert, AZ 85295

$599,000
4 Beds
3.5 Baths
2,410 SqFt
Status Active
MLS # 6768551
Property Type Single Family Residence
Price Type --
This gorgeous 4-bedroom, 3.5-bath home in the heart of Gilbert is truly a gem! From the moment you walk in, you'll be captivated by the elegance and thoughtful upgrades throughout. The executive kitchen is a chef's dream, complete with high-end appliances, sleek countertops, and plenty of cabinet space for all your culinary needs. The spacious primary suite has been extended and upgraded, featuring two generous walk-in closets and a luxurious soaking tub, perfect for unwinding after a long day. A private casita offers a perfect retreat for guests, in-laws, or a home office. Enjoy indoor-outdoor living with the expansive extended patio slider doors, allowing for seamless flow to the backyard, ideal for entertaining. Enjoy the beautiful sparkling community pool and local parks. Come view!

26205 S Beech Creek Drive Sun Lakes, AZ 85248

$599,000
3 Beds
2 Baths
1,971 SqFt
Status Active
MLS # 6763105
Property Type Single Family Residence
Price Type --
Step into a home where sophistication meets comfort. The custom-designed fireplace sets the tone in the expansive great room—perfect for both intimate gatherings and grand entertaining. This home is better than new, boasting brand-new floors and windows throughout, with meticulous attention to detail at every turn! The heart of the home, the gourmet kitchen, is a chef's dream. Featuring top-of-the-line KitchenAid and Bosch appliances, drawer microwave, dual ovens, induction cooktop, custom drawer organization for all your kitchen utensils, stunning custom quartz countertops, and a massive island that provides ample seating. The flat-panel European-style cabinets are sleek and modern, beautifully complemented by designer lighting. Retreat to the luxurious master suite, where relaxation awaits. The master bathroom boasts a bespoke vanity with a dedicated makeup area, a spacious walk-in shower with a bench, and no-step entry for ultimate convenience. The serene bedroom offers a peaceful view of the private backyard, perfect for unwinding after a long day. The open-concept living area flows seamlessly into a formal dining space, ideal for hosting dinner parties or family meals. Step outside to a backyard that's made for Arizona living. The newly epoxied patio is ready for you to enjoy cool winter evenings under the stars. This stunning home is an entertainer's dream and a peaceful retreat all in one. NEW ROOF AND AC! Don't miss your chance to own this beautifully reimagined property!

4734 E Verbena Drive Phoenix, AZ 85044

$599,000
4 Beds
2 Baths
1,890 SqFt
Status Active
MLS # 6761591
Property Type Single Family Residence
Price Type --
Beautiful home in Ahwatukee Foothills Community. Amazing 4 bed single level home 3 car garage, pool/spa. With a granite kitchen island, extensive custom cabinets with pull-outs, an eating nook with a big picture window. Kitchen overlooks the family room & beautiful travertine tiles & freshly painted throughout. Enjoy private pool with spa in this great entertainers backyard. Mature trees and lovely landscape to this yard giving a feeling of the outside peacefulness. Home also has a soft water loop. It's conveniently located near I-10 for access to anywhere but also within the bounds of Ahwatukee and all it has to offer. It's also just a few miles from Pecos Park, which has pools, water slides, 16 pickleball courts, basketball, soccer, volleyball, walking paths and more!

4046 E Agave Road Phoenix, AZ 85044

$599,000
5 Beds
3 Baths
2,302 SqFt
Status Active
MLS # 6761563
Property Type Single Family Residence
Price Type --
Luxury remodel in a premier location!!! Stunning 5 bed/3 bath with soaring 18ft ceilings and gorgeous new flooring throughout. Highlights: *In-laws suite downstairs, plus 2nd bedroom. Full bath downstairs. *Massive 5ft x 1ft porcelain tiles from Italy mimic white oak wood on first floor. *Elegant engineered hardwood stairs lead to plush new carpeting upstairs. *Gourmet kitchen with quartzite counters, marble backsplash, and stainless appliances. *Jaw-dropping primary bath with 9ft x 3.5ftx10ft H tiled shower; nicknamed The Car Wash Shower. * 4 mitered quartzite counters in all 3 full bathrooms. Laundry conveniently located upstairs. *Fresh interior/exterior paint provides move-in ready luxury. *Coveted neighborhood near I10, 202, 60, downtown Phoenix, ASU, top public and charter schools like Basis. *Amenities galore at Mountain Park HOA- 3 Olympic size pools, jacuzzi, pickleball, tennis and sand volleyball courts, walk and bike paths, hiking. Great shopping nearby- Phoenix Premium Outlets, RH Outlet, Marshalls, Costco, AZ Mills Mall, Sprouts, Frys, Home Depot, Lowes. Call today!

9416 S 46th Street Phoenix, AZ 85044

$599,000
3 Beds
2 Baths
1,747 SqFt
Status Active
MLS # 6758376
Property Type Townhouse
Price Type --
ALL-NEW BEAUTIFUL COMPLETE RENOVATION AT THE POINTE!! LifeStyle at The Pointe South Mountain!!! Indulge in the pinnacle of serene luxury living in this exquisite home offering breathtaking mountain and golf course views within the lush and prestigious Mediterranean-inspired Pointe South Mountain community. The visionary Gosnell architecture is immediately breathtaking as you walk in. Enjoy the majestic palms and enchanting lantern-lit evenings while watching the Pointe Resort fireworks from your own backyard with huge beautiful DIVING POOL!, nestled against the serene South Mountain Preserve, with its inviting Pima Canyon Trailhead just a short walk from your door. This hidden gem in The Pointe is nestled on the most sought-after and tranquil cul-de-sac, radiating (read more) ...charm both inside and out. Featuring 3 bedrooms, 2 baths, a 2-car garage and a glorious resort-style feeling... Your home is waiting for you with its stunningly unique living space and an elegant formal dining area. The vaulted ceilings and high clerestory windows enhance the spacious ambiance, complemented by plantation shutters, flowing natural light, and stylish wood-look flooring throughout. Cozy up by the fireplace in the delightful kiva nook for a martini or a book...or both! JJ Completely upgraded everywhere you look! The bright kitchen is a chef's dream, equipped with all-brand-new stainless steel appliances, sleek quartz countertops, a vertical tile backsplash, ample cabinetry and a breakfast bar peninsula. The primary bedroom boasts a sparkling ensuite with all-new dual sinks and a gorgeous large walk-in shower. The bright front bedroom offers plantation shutters and a generous walk-in closet. Step outside to your entertainer's paradise: a backyard featuring a covered patio, pavers, lush lawns, and a sparkling pool. Every detail exudes WOW! This home is an opportunity not to be missed. Experience the perfect blend of elegance, comfort, and unparalleled beauty. Hurry, this masterpiece won't last long!

19733 N 79th Avenue Glendale, AZ 85308

$599,000
4 Beds
2 Baths
2,272 SqFt
Status Active
MLS # 6769879
Property Type Single Family Residence
Price Type --
Charming single-story home with a spacious, open-concept layout and high ceilings, offering an abundance of natural light and elegant tile flooring throughout. Original owners have lovingly maintained the property ideal for hosting gatherings, this home boasts an extended, covered patio and a serene garden-like backyard. The generous primary suite features a separate tub and shower, a private water closet, and a large walk-in closet. A well-designed split floor plan includes 3 additional bedrooms and a full bathroom. The exterior was freshly painted this year, enhancing its curb appeal. The three-car garage is equipped with insulated door and ample storage cabinets. Conveniently located near golf courses, lakes, parks, and easy access to freeways, shopping, and medical facilities.

1849 E Northview Avenue Phoenix, AZ 85020

$599,000
2 Beds
2 Baths
1,752 SqFt
Status Active
MLS # 6770374
Property Type Single Family Residence
Price Type --
Location! Location! Location! Act fast before its gone. Beautiful home in Skyline Heights. This home is in the High Demand Pointe area. Brand New Roof just replaced with underlayment and brand-new tiles. New electrical panel box, New Garage door opener, New Security System, and New Dishwasher! Front and Backyard Brand New pet friendly artificial turf installed for low maintenance. Open and bright floorplan with fireplace and Atrium. Across the street from the park with mountain views and minutes from the Biltmore with restaurants, shopping and entertainment.

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