As a homeowner, you may have heard the term re-financing without being aware of exactly what it means, but there are a lot of pros and cons associated with what it can do for your financial situation. While getting a different new loan for your mortgage can be a good financial decision in certain situations, here are some things you should consider before you decide that this is the right choice for you.
Getting A Lower Rate
One of the main reasons that re-financing can be a popular option for many homeowners is that it can provide the opportunity for considerable money savings. Since you will be acquiring a new loan with a lower interest rate, this will be an opportunity to reduce your monthly payments, increase your equity at a faster rate and invest the extra funds into something else. While a lower rate can definitely mean money savings, it’s important to consult with a mortgage professional so you’re aware of any associated fees and can make a decision that will be financially beneficial.
Consolidating Your Debt
It is often the case that people will choose to refinance their mortgage with a lower-interest rate in the hopes of paying off the debt they’ve accumulated, but with the cost of refinancing this is not necessarily the best financial decision. While consolidating debt can be great if you go into it with a budget that you plan on sticking too, if you’re leaning too much on the idea of a lower interest rate meaning instant savings, it may be a good idea to take a look at the numbers.
Investing In Your Home
For many people, re-financing their mortgage is a good opportunity to renovate their home and increase its value. However, while renovating your home can be a good idea for resale, there are many home renovations that will not necessarily increase the value of your home and make up for the amount you’ve invested. If you’re making forward-thinking renovations, refinancing is one thing, but ensure you’ve seriously considered what will add value.
There can be a number of financial benefits when it comes to refinancing your mortgage, but it’s important to work out your tentative budget and crunch the numbers before you make a final decision. If you’re currently looking into re-financing your home and are curious about what it entails, give me a call for more information – J.P. Cook – 602-320-4253.
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23188 N 79th Way
Scottsdale, AZ 85255
$1,950,000
3
Beds
3.5
Baths
4,445
SqFt
Status
Active
MLS #
6781540
Property Type
Single Family Residence
Price Type
--
Welcome to your quiet custom 30 home gated community of Sonoran Hills, modest estates spread out to give you the upmost privacy! This property is situated toward the end of a cul-de-sac on over 1.2 acres, and is the best value in all of 85255! There are 3 bedrooms, plus an office, and plenty of indoor public areas for entertaining your friends and family. Upon entering, you will notice the soaring ceilings, which will also draw you toward the backyard where you will notice a massive BBQ kitchen in addition to the main kitchen, perfect for both indoor and outdoor cooking to have the ultimate barbecue for all of your friends and family while the cook can still stay where all the action is happening. Enjoy the sparkling pool, or head to the community tennis courts and playground!
13459 E Wethersfield Road
Scottsdale, AZ 85259
$1,950,000
4
Beds
4.5
Baths
4,701
SqFt
Status
Active
MLS #
6775588
Property Type
Single Family Residence
Price Type
--
Resort living inside & out of this updated stunner with the views you have been searching for! Located in 24/7 Guard Gated Scottsdale Mountain, this spacious home combines indoor and outdoor living with surrounded glass doors and full length windows all around. Open floorplan, 4 bedrooms & 4.5 baths plus a separate Home Office and Bonus Room. Chef's style kitchen features updated cabinets, granite counters, SS appliances, brand new double oven, and walk-in pantry. Entertain and admire PANORAMIC VIEWS from your Outdoor Oasis! Enjoy Kiva Fireplace, putting green fire pit, built-in BBQ, newly redone pebbletec pool, 3 Separate Sitting view areas and the natural beauty of desert open space and privacy. No imposing houses! Many updates in 2024 (click more!) including interior and exterior paint, pool, roof, floors, water heaters bathrooms and RO system. Check out the feature list in the documents tab and schedule a showing today!
8237 E Lippizan Trail
Scottsdale, AZ 85258
$1,949,999
4
Beds
3
Baths
2,938
SqFt
Status
Active
MLS #
6780922
Property Type
Single Family Residence
Price Type
--
Welcome to the newly remodeled 8237 E. Lippizan Trl, a stunning home located in the highly sought-after McCormick Ranch community in Scottsdale. This beautifully updated property offers a spacious layout, modern high end finishes, and a resort-style backyard, perfect for enjoying Arizona living at its finest. Step into a light-filled living area with large windows that bring in abundant natural light. The open floor plan creates a seamless flow between the living room, dining room, and kitchen, making it perfect for entertaining. The updated kitchen features sleek quartz countertops, brand new matching stainless steel appliances, a large center island with breakfast bar seating, custom cabinetry, and gorgeous new flooring. Whether you're preparing a casual meal or hosting guests, this kitchen offers the perfect blend of style and functionality. The beautifully landscaped backyard offers a covered patio, sparkling pool, and plenty of room for outdoor dining and relaxation. This space is designed for enjoying the Arizona weather year-round. McCormick Ranch is one of Scottsdale's premier master-planned communities, offering access to miles of walking and biking paths, lakes, parks, and two championship golf courses. With its close proximity to Old Town Scottsdale, Scottsdale Fashion Square, and local hotspots, you'll enjoy the perfect blend of outdoor beauty and urban convenience!
34651 N 49th Street
Cave Creek, AZ 85331
$1,949,000
4
Beds
5
Baths
4,608
SqFt
Status
Active
MLS #
6627038
Property Type
Single Family Residence
Price Type
--
TWO SEPARATE HOMES: PRIVATE stunning 2.5 Acre Estate with TWO fully Remodeled Homes and a Luxurious Pool & Outdoor Kitchen Oasis. PERFECT for extended family or short/ longer term investment opportunity. Welcome to your private paradise! This exceptional 2.5-acre estate boasts not one but two beautifully remodeled homes and a sparkling pool, making it the perfect retreat for multi-generational living, an income-generating property, or a serene haven for those who desire space and luxury. Main Features: - 2.5 acres of ample space for recreation, horses, or business ventures. - Two exquisitely remodeled homes offer a combined living space that's perfect for a large family or multiple households. - Outdoor pool oasis with kitchen and court yard, offering endless entertainment. First Home: 2 Bedrooms/ 2 Baths & an Office (2263 sq feet) Step inside the main residence, where elegance meets modern comfort: -Expansive living spaces with high ceilings and an abundance of natural light create a welcoming atmosphere. - Brand new electrical wiring. -Gourmet kitchen with top-of-the-line appliances and a center island for culinary adventures. -The master suite is a true retreat, featuring a spa-like ensuite shower and a walk-in closet. -The guest bedrooms and bathroom provides ample space for family and guests. -The office/ multi-purpose room upstairs is the perfect place to soak up expansive mountain views. Second Home: 2 Bedrooms/ 2 Baths (2345 sq feet) The second home is equally impressive, making it perfect for extended family, guests, or rental income: - Spacious living and dining areas, along with a fully equipped kitchen, make this a self-sufficient living space. -Two bedrooms and two bathrooms provide comfort and privacy for residents. -Access to a private patio and outdoor spaces allows for outdoor relaxation and enjoyment. Outdoor Space: -The beautifully landscaped grounds feature a variety of mature trees, and areas for outdoor dining and recreation. Winter grass has currently been seeded and expecting an appearance any day! -A covered outdoor kitchen with a built-in BBQ area is perfect for dining and entertaining. -The potential for gardening, horse facilities, or additional development awaits in the vast acreage. Location: This estate is situated in a peaceful and upscale neighborhood, offering the perfect blend of tranquility and convenience. It's just minutes from local schools, shopping, dining, and recreational amenities. Don't miss the opportunity to own this magnificent 2.5-acre estate with two remodeled homes. Whether you're looking for a multi-generational haven, a rental property, or a personal sanctuary, this property offers the best of Western living. Your dream home is waiting!
6711 E Camelback Road Unit 48
Scottsdale, AZ 85251
$1,949,000
4
Beds
3.5
Baths
2,846
SqFt
Status
Active
MLS #
6781916
Property Type
Townhouse
Price Type
--
Luxury living at it's finest in Scottsdale- Paradise Valley community 24/7 365 Private Guard Gated Security This home is one of the very few largest in square feet and lot size all of the Spectacular Village of Pavoreal. This home boasts 2,846 square feet with a stunning lot size of 5,524. 4 Full Bedroom 3.5 Bathrooms full 2 car garage. Two Master Suites downstairs including luxurious spacious bathrooms and his and hers walk-in closets. Bonus room downstairs with adjacent side powder room , Upstairs Guest private room with amazing large beautiful full bathroom with large full size closet. Beautiful open eat in kitchen, separate formal dinning room . Private covered large backyard, Walking distance to renowned Fashion Square Mall . Price Negotiable, must sell moving. family
26995 N 68th Street
Scottsdale, AZ 85266
$1,945,000
5
Beds
3.5
Baths
4,364
SqFt
Status
Active
MLS #
6731621
Property Type
Single Family Residence
Price Type
--
HORSE PROPERTY, nestled on a sprawling 1-acre lot with breathtaking mountain views from the observation deck and coveted horse privileges! This exquisite property features a spacious 4-car garage and a charming courtyard entry that sets the tone for luxury living. Step inside to discover a meticulously designed interior, including a formal dining room and a sophisticated living room, perfect for hosting gatherings. Remodel just completed-the home exudes modern elegance. The expansive family room, complete with fireplace, provides a cozy retreat for relaxing evenings. The state-of-the-art kitchen boasts a built-in refrigerator and an in-cabinet chilled water dispenser, making it a culinary haven. Horse corral with tack room and NO HOA round out this rare opportunity!
9301 E Desert Arroyos --
Scottsdale, AZ 85255
$1,940,000
5
Beds
3.5
Baths
4,061
SqFt
Status
Active
MLS #
6740667
Property Type
Single Family Residence
Price Type
--
This beautifully upgraded 5-bedroom, 3.5-bath home with den, playroom, and loft sits on a premium over-quarter-acre lot in the highly desirable Estates of DC Ranch. Surrounded by desert open space on two sides, this home offers unparalleled privacy and views. The chef's kitchen is a standout, featuring a large island, granite countertops, stainless steel appliances, a 5-burner gas cooktop, built-in refrigerator, warming drawer, upgraded cabinetry, a spacious walk-in pantry, and an eat-in dining area that opens to the family room. Enjoy upgraded tile flooring and hardwood floors in the downstairs office. Step outside to the resort-style backyard, complete with a fenced pool, built-in BBQ, and a lush grassy area. The 3-car tandem garage includes custom cabinets. This home is meticulously maintained and ready for its next chapter!
7471 E Sunnyvale Drive
Scottsdale, AZ 85258
$1,935,000
4
Beds
4
Baths
3,472
SqFt
Status
Active
MLS #
6745482
Property Type
Single Family Residence
Price Type
--
The best of everything! Full 2023 renovation with on-trend design & finishes, guard-gated security, 3CG, & a premium lot steps from gym/Shops at Gainey Village. The 21' high great room is filled with natural light. European white oak floors & LED lighting throughout the home. Open concept kitchen features Azzurra Bay quartzite stone counters. Fisher & Paykel appliance package includes induction range & Alder cabinet front fridge/freezer. Main level offers ensuite bedroom & den/optional 5th BR. Large primary suite features luxurious bath w/ steam shower, soaking tub, dual vanities + makeup counter, custom WIC cabinetry. Rare, deep yard is private w/ turf, pool, BBQ & fruit trees. Amazing house that will appeal to lock-n-leave buyers & those looking for turn-key within 3C's school district.
351 N Sky View Street
Flagstaff, AZ 86004
$1,935,000
3
Beds
3.5
Baths
4,891
SqFt
Status
Active Under Contract
MLS #
6680475
Property Type
Single Family Residence
Price Type
--
Escape to your own secluded paradise nestled amidst 3 wooded acres, boasting breathtaking views of the majestic San Francisco Peaks. This contemporary masterpiece offers a luxurious retreat with just under 5,000 square feet of meticulously crafted living space. Step inside to discover two primary suites upstairs, an additional bedroom on the main level, and a chef's kitchen fit for culinary indulgence. Entertain in style with a separate eat-in area, formal dining room, and a spacious living room featuring a sleek wet bar, all while soaking in panoramic views through expansive windows. Experience unparalleled privacy with a gated entrance and tranquil enclosed courtyards, while the 3-car garage ensures convenience. Pamper yourself in the dedicated exercise room and unwind in the endless pool, or enjoy outdoor adventure in the dedicated dog park complete with ponds and rivers. Embrace a lifestyle of sophistication and serenity in this remarkable sanctuary, where every detail is thoughtfully designed to elevate your living experience amidst nature's splendor.
12314 E Black Rock Road
Scottsdale, AZ 85255
$1,931,995
3
Beds
3.5
Baths
2,860
SqFt
Status
Active
MLS #
6767177
Property Type
Single Family Residence
Price Type
--
*NEW CONSTRUCTION: SUMMER 2025 COMPLETION. Interior Finishes have been added!* Stunning Callum floor plan with Spanish Contemporary exterior under construction on a private home site! Gorgeous 14' 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!
39349 N 107th Way
Scottsdale, AZ 85262
$1,925,000
2
Beds
2.5
Baths
2,576
SqFt
Status
Active
MLS #
6773588
Property Type
Single Family Residence
Price Type
--
This Bing Hu designed home is the epitome of luxury and craftsmanship in the highly sought after community of Desert Mountain. The entire home has been totally reimagined and recreated using the finest materials and finishes expertly crafted by AB Design Elements and Allhaus. Every detail has been thoughtfully customized to evoke a sense of warmth and style. The completely redesigned kitchen and great room invite gatherings with friends and family. The Primary Suite offers privacy and tranquility while being enveloped in lavish ambiance. A well-appointed guest suite will not disappoint. The outdoor living spaces offer spectacular views of the 7th hole of the Apache Golf Course complementing the expansive private patio with a heated spa, large gas fire pit and outdoor kitchen. Homebuyer may make application to join the Desert Mountain Club's Full Golf Membership Wait List (the Wait List). Homebuyer's Application for Membership must be approved and all Wait List requirements must be met to join the Wait List. While on the Wait List, homebuyer may be offered the opportunity to have club use privileges by obtaining a Full Lifestyle Membership or a Full Seven Golf Membership with the requirement to upgrade to a Full Golf Membership once it becomes available. Wait List times vary. Please contact the Desert Mountain Club for details.
3110 E Georgia Avenue
Phoenix, AZ 85016
$1,925,000
3
Beds
3.5
Baths
2,600
SqFt
Status
Active Under Contract
MLS #
6775617
Property Type
Townhouse
Price Type
--
Welcome to this charming single-level home, nestled on the lake in the gated community of Village on the Lakes at the Biltmore. Completely renovated in 2015, this home was designed with attention to every detail. From the moment you approach, you're greeted by an inviting front courtyard with a beautiful outdoor seating area, complemented by travertine pavers that guide you to the front entrance. Inside, you'll find three spacious bedrooms, three and a half bathrooms, soaring vaulted ceilings & numerous windows that enhance the home's open, airy feel. The kitchen features custom cabinetry, stunning Taj Mahal quartz countertops, premium KitchenAid appliances, and a dedicated bar and beverage fridge area, making it a dream for both cooking and entertaining. The primary bedroom is a retreat offering the perfect blend of luxury and relaxation. Large sliding doors open to the backyard, allowing you to wake up to breathtaking views of the lake and golf course. The primary bathroom is equally impressive, with a double vanity, spacious walk-in shower, and his-and-hers closets. The backyard is an entertainer's paradise, boasting travertine pavers, a breathtaking ficus tree, a beautiful water feature, low-maintenance artificial grass and a cozy backyard fire-pit. With its private setting, the backyard delivers peace and serenity, framed by stunning views of both the lake and golf course. Additional features include a two-car garage and easy walking access to scenic green belts, upscale shopping, dining, and all the Biltmore area has to offer. This is more than just a homeit's a lifestyle defined by elegance, privacy, and some of the most breathtaking views available. Don't miss this rare opportunity to own a true gem in the desert!