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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8714 N 65th Street
Paradise Valley, AZ 85253
$4,700,000
4
Beds
3.5
Baths
4,471
SqFt
Status
Active
MLS #
6769504
Property Type
Single Family Residence
Price Type
--
This elegant, Mediterranean-style home is new to the market and a must-see for those seeking a home that blends timeless charm with serene mountain views in a highly-sought after neighborhood in Paradise Valley. This exceptional property boasts soaring wood beamed ceilings in the master, living, dining and family rooms; three stone fireplaces; custom hardwood flooring throughout; and french doors in the grand living and dining area. Outside, enjoy the resort style backyard complete with a beautiful covered patio, large pool and expansive lawn against the backdrop of stunning mountain views. This property's desirable lot orientation and location makes it a true standout in Camelback Country Estates Unit 1. This home has been cherished by the same family for four decades... now let your family create its own memories here!
10953 E Tusayan Trail
Scottsdale, AZ 85255
$4,695,000
5
Beds
7
Baths
5,913
SqFt
Status
Active
MLS #
6778034
Property Type
Single Family Residence
Price Type
--
Live in art! This exceptional home, designed by renowned architect Bob Bacon, harmonizes perfectly with it's majestic boulder formations, and is embraced by stunning mountain and city light views. Located in the exclusive gated community of Tusayan at Troon, you'll discover a truly unparalleled living experience. One of the many unique features of this property is it's short yet breathtaking drive up the hillside, revealing a grand motor court entrance to your 4 bedroom, 7 bath home plus casita, ensuring your journey home and your stay is always enchanting. Constructed with exceptional craftsmanship, this luxurious 5,913 SF residence features: a spectacular kitchen with custom cabinetry, oversized island, Viking appliances, walk-in pantry and walk-in wine room; elegant lofty and wood beamed ceilings throughout, a primary master suite with expansive windows offering breathtaking views, 4 guest bedroom suites, 2 elegant powder baths, a separate office complete with custom built-ins, a wet bar, fridge and private view patio. The separate fourth bedroom suite ensures privacy, flexibility and it's own entrance for guests or extended family, while an inviting 498-square-foot casita is conveniently located off the motor court, provides even more additional living space. The Great Room boasts two expansive retractable folding doors creating a welcoming blend of indoor and outdoor living spaces that seamlessly integrate the home with its natural surroundings and creates an ideal space for large-scale entertaining. Once outside, enjoy expansive covered patio areas, complete with an inviting heated negative edge pool with a powerful swim jet, a thoughtfully placed hot tub and a small putting green perfect for honing your skills in the privacy of your home. Experience warmth and ambiance year-round with a unique two-way indoor/outdoor gas fireplace, complemented by multiple outdoor gas fire pits for cozy evenings and spectacular Arizona sunset views. Car enthusiasts will appreciate the spacious oversized climate-controlled four-car garage, with a large storage room for added convenience. This outstanding, friendly community frequently hosts social functions, offering a perfect opportunity to connect with neighbors. Schedule an appointment today to see this outstanding, one-of-a-kind home.
5311 E Via Los Caballos --
Paradise Valley, AZ 85253
$4,695,000
6
Beds
7
Baths
6,081
SqFt
Status
Active
MLS #
6784600
Property Type
Single Family Residence
Price Type
--
Experience elegance in this custom-built 5 bedroom all en-suite, 7-bath luxury estate. Bonus room (could be 6th bedroom) and a large Game Room! Home is craftsman-inspired where warmth meets refined sophistication. Nestled to capture breathtaking mountain views with a South backyard, this home's sprawling grassy backyard and mature trees is an entertainer's paradise, featuring a resort-style retreat with a sparkling spa, lap pool, sport court, and an expansive covered patio perfect for outdoor living and dining. Inside, the split floor plan offers four ensuite bedrooms, each with custom walk-in closets, plus a built-in study area for added versatility. The Primary Suite was recently updated with timeless wood floors, walnut millwork, a luxurious bath featuring a Dry Sauna, Spa-Style dual shower, custom floating walnut vanities and gorgeous lighting! Closet to be envied and a large center island. An attached exercise room is the added bonus to this suite. An attached casita provides the perfect setting for a playroom or guest suite, while a secluded office, located near the walk-in wine room, offers an elegant, private workspace. Practical elegance is found in the well-appointed laundry/workspace, mudroom, and storage area adjacent to the garage. Don't miss the wine cellar room and spacious garage with even more storage. Enveloped by mature landscaping, this estate offers total privacy and captures the beauty of its mountain surroundings, creating an exquisite luxury retreat. Located in the heart of Paradise Valley and walking distance to Cherokee Elementary School.
5350 E Calle Del Medio --
Phoenix, AZ 85018
$4,695,000
4
Beds
4.5
Baths
6,167
SqFt
Status
Active
MLS #
6735383
Property Type
Single Family Residence
Price Type
--
Remodeled in 2018, this stunning 6,100 sqft Arcadia Estate sits on a beautiful corner lot bursting with curb appeal with its lush landscaping and welcoming front porch pergola and classic red brick fireplace to greet guests. Thoughtfully designed, this split floor plan presents four spacious ensuite bedrooms including a primary suite designed with luxury and comfort in mind with a spa like bathroom featuring a stand alone tub, walk-in shower, double vanities and hand selected finishes throughout. The rest of the home includes a formal family room finished with wainscoting, a coffered ceiling and a cozy fireplace. In addition, enjoy a private home library with custom built-ins and a reading nook, and a spacious front room perfect for formal dining or a home office. The butlers pantry, with a temperature controlled wine room, connects the formal dining to an oversized eat-in kitchen which is a testament to traditional elegance boasting marble countertops, a large kitchen island, and top-of-the line appliances including a Wolf Range and a Sub-Zero refrigerator/freezer. A passthrough fireplace seamlessly connects the kitchen to the home's great room which includes a full bar and a stunning sliding door entrance to the backyard. Designed for both relaxation and entertainment, the backyard retreat features lush landscaping, a diving pool that can be both heated and cooled, a built-in BBQ, and an elegant covered ramada that houses an outdoor fireplace creating a cozy ambiance for evening conversations and gatherings. To top it off, all your family and friends can have fun enjoying the in-ground trampoline, bocce ball court and a professional batting cage. Walking distance to the coveted Hopi Elementary and in close proximity to Arcadia's most popular shopping and dining experiences, this is the perfect place to call home so you can live, work and play the Arcadia lifestyle.
40575 N 109th Place
Scottsdale, AZ 85262
$4,695,000
4
Beds
4.5
Baths
4,268
SqFt
Status
Active
MLS #
6753950
Property Type
Single Family Residence
Price Type
--
DESERT MOUNTAIN GOLF MEMBERSHIP AVAILABLE!Stunning Contemporary design by Scott Lenz with panoramic views from Pinnacle Peak to Apache Peak with valley and mountain, and sunset vistas. Open great room floor plan features 4 bedrooms and 4.5 baths and a large three car garage close to the Apache Club House. Planning for spring of 2025 completion. Home is in drywall stage with cabinets and flooring to be installed late November. Appliances to be installed shortly thereafter. Rooms designated and spec book is on property. Great detail and finishes. A 30 day membership application review and approval is required.
10782 E Prospect Point Drive
Scottsdale, AZ 85262
$4,685,000
4
Beds
4.5
Baths
5,260
SqFt
Status
Active
MLS #
6693530
Property Type
Single Family Residence
Price Type
--
Stunning contemporary home designed by J4 Architecture and Design. The home is a perfect blend of indoor outdoor living that captures the unique desert lifestyle that is Desert Mountain. The mountain views are unreal from nearly every corner of this homesite. A perfectly located home, right in the heart of the most sought after master planned community. Floor to ceiling windows throughout, European style cabinetry, top of the line appliance package in Wolf, Sub-zero and Cove.
8200 N Charles Drive
Paradise Valley, AZ 85253
$4,655,000
4
Beds
3.5
Baths
4,750
SqFt
Status
Active
MLS #
6778917
Property Type
Single Family Residence
Price Type
--
Welcome to Arizona's most prestigious real estate enclave nestled in Paradise Valley—. This four bedroom, three and a half bathroom, masterpiece boasts a stunning 270-degree panorama over Scottsdale, the McDowell Mountains, and pristine high desert landscapes. Designed with a striking mid-century modern aesthetic that seamlessly blends with sophisticated contemporary elegance, this residence is crafted by one of Arizona's premier luxury builders, creating a livable art piece. Every inch is meticulously curated, featuring an expansive view deck, walls of glass, a gourmet chef's kitchen, and an opulent primary suite. Perfect for grand entertaining or intimate gatherings, this residence offers unmatched style and captivating, sweeping views.
42159 N 104th Way
Scottsdale, AZ 85262
$4,650,000
4
Beds
4.5
Baths
7,227
SqFt
Status
Active
MLS #
6776319
Property Type
Single Family Residence
Price Type
--
Desert Mountain Golf Membership available...Dramatic contemporary in prestigeous Seven Arrows Village designed by Craig Brown and built by renowned Manship Builders. Classic custom finishes . Glass walls provide Sonoran Desert beauty and Apache Peak vistas to every room in the home. The dramatic gallery-style foyer features a succulent garden and flows to the great room, formal dining, spectacular library/den and luxury primary retreat. The great room opens to covered outdoor living & dining, a magnificent hearth, and a resort patio with forever Valley views of sunsets and city lights. Chef's kitchen, sit-up bar and sunny breakfast room complete the main living level. The lower level is accessed by elevator AND from the main foyer by an elegant artisan-crafted limestone staircase with wrought iron rail, with it's own gallery walkway to the lower level amenities... wine tasting room with wine cellar, workout studio, two large ensuite Bedrooms with patios and pool access, powder room, laundry, flex room for home theater or simulator, and abundant storage. The home has an oversized garage with workshop area, separate storage and tandem 3-car parking. For owners and guests who prefer no steps, the garage is at grade level, with a secondary grade-level formal entry foyer that's part of the lower level art-walk leading to lower level amenities and the grand staircase. All in Fabulous Desert Mountain community with seven golf courses, 10 restaurants, HealthSpa/ Fitness center, pickleball, tennis, bocce and croquet courts, 20+ miles of private hiking trails, and a myriad of year-round planned activities. Club membership application/approval process is 30 days
8115 N 68th Street
Paradise Valley, AZ 85253
$4,650,000
5
Beds
7
Baths
6,303
SqFt
Status
Active
MLS #
6674293
Property Type
Single Family Residence
Price Type
--
Experience ''Old Arizona'' through the creative vision of Master of the Southwest artist Lash McDaniel. The charm, comfort, & quietly elegant design of this special property offers abundant beauty and tranquility, a million mental miles from the hustle and bustle of modern life. This private residence has NEVER BEEN ON THE MARKET, so this is your first opportunity to witness this Arizona masterpiece! The main home consists of 3 en suite bedrooms + 2 powder rooms, a Great Room, Library, Dining Room w/ wet bar, Gourmet Kitchen w/ Sitting Area, & both expansive and intimate patios. There are 7 fireplaces overall. The full Guest House offers 2 bedroom suites, a kitchen and dining area, and beautiful outdoor private patio. The grounds of this property are as enchanting as the home itself!
6296 N Lost Dutchman Drive
Paradise Valley, AZ 85253
$4,650,000
4
Beds
4.5
Baths
4,392
SqFt
Status
Active
MLS #
6692691
Property Type
Single Family Residence
Price Type
--
Spectacular Camelback Mountain Views are laying at your patio at expansive pocket doors in this low maintenance recently highly updated home in The Village at Mountain Shadows. MANNED guard gated - and newly installed EDGE wireless alarm system - operate from your cell phone or IPAD. Block constructed home w/contemporary styling with state-of-the art updates: Wolf Gas Range/Beverage Cooker/SubZero Drawers/Miele Coffee Maker/Steam Oven/Warming Drawer/Scottsdale Icemaker/Waterstone Endeavor Wheel pulldown faucet. Kitchen opens to expansive windows that open to pull up courtyard bar for wrap around patio entertaining. Dining Room/Handmade Hillard GLASS chandelier - conveys. Relax and unwind in sumptuous primary suite & primary bath/FIRST FLOOR - (cont'd).. Robern lit medicine cabinets/custom cabinetry/WI shower with new showerhead/towel bars/Toto Washlet water closet/WI closet w/custom cabinetry/addt'l custom storage cabinetry. So many details and customizations: Temperature controlled wine cellar/sunshades with wind/sensor remotes/Minka Ceiling Fans & remotes/flex room coffee snack bar with Subzero refrigerator drawers/upgraded kitchen cabinet hardware/whole house water filtration system/firepit/air conditioned 3-car garage w/EV outlet/workbench/epoxy floors/storage cabinetry. Laundry w/Miele washer/dryer/folding counters & Sink. ELEVATOR is conveniently located! NEWLY LANDSCAPED LOW MAINTENANCE YARD - WITH PUTTING GREEN & large privacy trees! PLEASE VIEW OUR HD VIDEO FOR A SPECTACULAR VIEW OF THIS CUSTOM HOME!
40 Roadrunner Lane
Sedona, AZ 86336
$4,645,000
7
Beds
5
Baths
4,630
SqFt
Status
Active
MLS #
6770446
Property Type
Single Family Residence
Price Type
--
PRICE REDUCTION! STR PERFORMING WITH OVER $457k WORTH OF RESERVATIONS from October 2023 until August 2025! Step into luxury living with this exquisite 7-bedroom, 5-bathroom home, perfectly situated in the heart of Sedona with NO HOA! Boasting a modern design, this property is a true entertainer's dream, offering the perfect blend of sophistication and comfort. As you enter through the grand foyer, you'll be greeted by a spacious open-concept great room and kitchen, creating a seamless flow for social gatherings. The split floor plan ensures privacy, with the primary bedroom boasting a luxurious walk-in shower, deluxe soaking tub and also features a spacious walk-in closet. The primary also has direct access to the pool area.
10208 N Palisades Boulevard
Fountain Hills, AZ 85268
$4,600,000
5
Beds
10
Baths
8,837
SqFt
Status
Active
MLS #
6784757
Property Type
Single Family Residence
Price Type
--
Indulge in luxury living at this spectacular Firerock residence, offering breathtaking views over Phoenix from nearly every room. Spanning an impressive 8,837 sq. ft. on a 1.1-acre lot, this estate boasts 5 spacious bedrooms, each with a private balcony with for sweeping, unobstructed vistas, and an astounding 10 bathrooms. The interior is designed for ultimate entertainment and relaxation, featuring a state-of-the-art 12-seater cinema room, a gym, and both steam and infrared saunas. For those who enjoy entertaining, the chef's kitchen is a masterpiece, equipped with floor-to-ceiling custom cabinetry, three ovens, two dishwashers, and an expansive island with bar seating. Step outside to your private oasis where a negative-edge pool and spa blend seamlessly with the desert horizon The resort-style backyard includes a fire pit, gas BBQ, misters, heat lamps, and meticulous landscaping maintained by a state-of-the-art irrigation system. Recent upgrades totaling $250,000 include a new roof, a heater for the pool and spa, and a fresh balcony with outdoor heaters to enhance outdoor experiences. Nestled within the exclusive Firerock community, you'll appreciate the tranquil ambiance, undisturbed by nearby Shea Road. Plus, as part of the Firerock Country Club, enjoy access to a premium lifestyle right at your doorstep. Optionally, there's space to add a custom wine cellar, further elevating this home's luxury offerings. This home encapsulates elegance, privacy, and the Arizona lifestyleexperience unmatched luxury and schedule your private tour today.