The Major Keys to Understanding When It’s Time to Refinance Your Mortgage

The Major Keys to Understanding When It's Time to Refinance Your MortgageAs 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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10629 E Troon North Drive Scottsdale, AZ 85262

$3,380,000
5 Beds
7 Baths
7,443 SqFt
Status Active
MLS # 6666657
Property Type Single Family Residence
Price Type --
Welcome to your dream oasis in the heart of the luxurious gated community of Talus at Troon North. This stunning Italian-inspired Custom Home is a masterpiece of architectural elegance and timeless design. Nestled on an expansive ~1-acre corner lot, this home enjoys the utmost privacy within a serene cul-de-sac setting. As you approach the residence you are greeted by a grand gated entry courtyard adorned with two majestic fountains and lush landscaping, setting the tone for the opulence that awaits inside. With a spacious 7,443 SF of living space, this five-bedroom, seven-bath estate offers an impressive array of features and amenities. The main level of the home boasts a functional & well-thought-out floor plan. Three generous bedrooms PLUS 420SF Casita plus Office (CLICK ''MORE'')... Four bedrooms on main level plus a stunning ensuite office w/ closet, private patio and calming water feature, all ensure ample space for family and guests. The upstairs area is dedicated to entertainment, featuring a media/game room with an exterior balcony that provides breathtaking views. This upstairs compound has bath, deck, closet & kitchenette= BR5. For those seeking additional privacy, an ensuite guest casita with a kitchenette, closet and private entrance can be found off the charming front courtyard. This home is a paradise for those who love to entertain. The kitchen seamlessly connects to the family room, complete with a wet bar and convenient access to the wine cellar, which is large enough to accommodate a tasting table. The kitchen itself is a chef's dream, featuring top-of-the-line appliances, including a Viking gas cooktop, two Wolf wall ovens, two Asko dishwashers, three sinks, and dual Sub Zero fridge/freezers. The master suite is a sanctuary of luxury, occupying its own private wing of the home. It includes a cozy sitting room with a fireplace, a sumptuous bathroom highlighted by a sunken jetted tub framed with Cantera stone columns and an inviting fireplace. Additionally, there is a safe room and even a hookup for a washer/dryer in one of the three walk-in closets, providing ultimate convenience. Every inch of this residence exudes elegance and sophistication. It is loaded with first-class amenities, including fresh interior paint and new carpet, a domed entry ceiling, an exotic pool and spa surrounded by travertine pavers (recently refinished), a three-car garage with an extra detached bay for a total of four car garages, and a total of five fireplaces throughout the home for added warmth and charm. Cantera stone accents adorn both the interior and exterior, while polished travertine flooring and electronic shades add to the overall sense of luxury. This home is simply impressive and offers a lifestyle of grandeur, elegance, and sophistication. Don't miss the opportunity to make this exquisite Italian-inspired residence your own, and experience the epitome of luxury living in the exclusive Talus at Troon North community.

6436 E Clinton Street Scottsdale, AZ 85254

$3,371,250
5 Beds
5.5 Baths
5,071 SqFt
Status Active
MLS # 6716201
Property Type Single Family Residence
Price Type --
NEW from Thomas James Homes with an opportunity to select some interior finishes during early stages of construction! This house has a great address, great schools and great views. Sitting in the highly desirable Scottsdale neighborhood, this beautiful 5 bedroom, 5.5 bathroom is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, shaker cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office and a kitchen prep area adjoining a bonus room and a game room. Home will feature fully landscaped front and back yards with a pool and spa, providing great Arizona outdoor living space. Expected completion in Summer of 2025.

5215 E Lafayette Boulevard Phoenix, AZ 85018

$3,369,000
5 Beds
5.5 Baths
5,209 SqFt
Status Active
MLS # 6775398
Property Type Single Family Residence
Price Type --
Welcome to a rare mid-century modern retreat on a huge 36,440 sq. ft. lot updated to todays standards. This 4,305-square-foot main house, plus an additional 904-square-foot guest house, offers four bedrooms and 4.5 baths in the main home, brand new roof and high-efficiency AC units, both with a 10-year warranty. The open layout, floor-to-ceiling glass walls, and iconic architectural lines draw in natural light and frame stunning views of entire Camelback Mountain. The guest house is equipped with a full bath, kitchenette, and private entrance. The expansive backyard is ready for gatherings, with a bocce ball court, sand volleyball court, peaceful pavilion and firepit. Original Architecture done by George Kenneth Rubel.

13023 N 68th Street Scottsdale, AZ 85254

$3,350,000
5 Beds
5.5 Baths
5,071 SqFt
Status Active
MLS # 6752069
Property Type Single Family Residence
Price Type --
Unique opportunity to unlock the advantages of buying an in-progress home built by Thomas James Homes. When purchasing this home, you will benefit from preferred pricing, design personalization, a guaranteed delivery, and more. Estimated home completion Spring 2025. Great address, great schools! Sitting in the highly desirable Sweetwater Corridor in Central Scottsdale, this beautiful 5 bedroom, 5.5 bathroom modern farmhouse is the definition of exceptional design. Wide plank wood flooring, decorative ceiling and wall treatments, including beams and wood paneling, impressive custom lighting, outstanding millwork, stone and tile accents, a gorgeous floor to ceiling fireplace, shaker cabinetry and a 4-car garage are just a sampling of the outstanding finishes going into the home. The large single story open concept floorplan is expertly crafted for modern living with a large interior courtyard leading to the home's entrance. Inside you'll find a large great room and luxury kitchen joined by a large quartz countertop island. The grand suite hosts a large his and hers walk-in closet and a spa like bathroom with a freestanding soaking tub and walk-in shower. The secondary bedrooms throughout the home have en-suite bathrooms. In addition to the bedrooms, you'll find ample added living space with a private office, gym and a kitchen prep area adjoining the dining room and a bonus room. Home will feature fully landscaped front and back yards, providing great Arizona outdoor living space. This home is minutes from dining, shopping and more.

9068 E Rimrock Drive Scottsdale, AZ 85255

$3,349,900
4 Beds
4 Baths
3,352 SqFt
Status Active
MLS # 6752751
Property Type Single Family Residence
Price Type --
This modern luxury estate is the result of a two-year like new, complete remodel on a 1.5-acre view lot! Future expansion survey and drawings offer an incredible opportunity to double the size of this home. The stunning new design created a fabulous, open great room featuring a modern see-through gas fireplace and a gourmet chef's kitchen boasting all new Viking appliances, custom cabinetry, quartz countertops, and an oversized island with bar seating. The split primary suite is the ultimate retreat featuring an expanded shower, a new tub, and custom walk-in closet. Two bedrooms are ensuite and a full bath was added across from the third bed. The backyard oasis features a brand-new heated pool, spa, white travertine, artificial grass, mature trees and picturesque McDowell mountain views!

1275 Dry Creek Road Sedona, AZ 86336

$3,345,000
6 Beds
5 Baths
6,414 SqFt
Status Active Under Contract
MLS # 6747035
Property Type Single Family Residence
Price Type --
This sprawling West Sedona Estate is amazing for so many reasons! The main home is spacious and has 4 bedrooms, 4 ensuite baths on 2.09 fabulous acres with expansive 360 views overlooking so many of Sedonas' landmark red rock mountains in an amazing location with no HOA. The outdoor entertaining areas are ample with plenty of room to relax and unwind including a putting green, multiple fireplaces, hot tub and pool. This home has an oversized 4 car detached garage with room for a workshop, 2 driveways, a separate guest house featuring 16-foot ceilings, 2 bedrooms, living area, kitchen with an attached climate-controlled RV garage. This extraordinary retreat is currently functioning as a successful short-term rental. This property has produced 350k in gross revenue in its first year, comes fully furnished but would also be a wonderful home for your family or great second home. The main house is 6,414 square feet with 4 spacious bedrooms 4 ensuite bathrooms and the primary Bedroom is on the main level and is huge with a stacked stone rock wall to add to its ambiance. Walk out to the expansive rear patio and enjoy morning coffee while admiring some of Sedona's most iconic rock formations. The kitchen has a Cambria Quartz Island and countertops. NXR chef grade range with a 6 burner gas cooktop, wine fridge, plenty of space to cook and entertain with multiple options for casual dining including a charming out door pergola with a large dining area, an outdoor fireplace and 2 outdoor fire pit areas, surrounded by lush greenery and mature fruit trees. There are so many outdoor entertainment areas it will be hard to choose where to be, the upper level which boasts a large living room/game room, fireplace and two huge decks. The views are unobstructed, you can see all the way to Mingus Mountain and the twinkling lights of Jerome. Cockscomb, Doe Mesa, Bear Mountain and Boynton Canyon to the West and Lizard, Chimney, Thunder Mountain to the East. Come see this in person, it is truly spectacular. Allow time to take it all in. New wine fridge, new roof, expanded new septic, new water heater, new washer and dryer, both in main house and guest house, refurbished putting green, ev charger and fully furnished.

4302 E Marion Way Phoenix, AZ 85018

$3,325,000
5 Beds
4.5 Baths
3,698 SqFt
Status Active
MLS # 6768404
Property Type Single Family Residence
Price Type --
Beautiful NEW modern-style home by Thomas James Homes located in MARION ESTATES! This home has 5 bedrooms, 4.5 baths and an estimated completion date of Summer 2025. Featuring a 3 car garage, attached Casita, beautiful pool and landscaped front and backyards which when combined with the professionally designed interior will make this home spectacular. Spend time in the formal dining room, snuggle up in the spacious great room with the gas fireplace on or open the stacking doors to the patio and let in some fresh air. Chef-inspired kitchen has a large island with bar seating, nook, and walk-in pantry. Beyond the kitchen sits a large bonus room connected to a second covered patio. The grand suite is spacious with a grand bath, freestanding tub, a walk-in shower, dual vanities, and an amazing walk-in closet. Hopi and Arcadia High School district and within walking distance to Global Ambassador and Phoenix Country Day!

8867 N 63rd Place Paradise Valley, AZ 85253

$3,325,000 - 4Br/4Ba -  for Sale in Camelback Country Estates Unit 5, Paradise Valley
Open House
$3,325,000
4 Beds
4 Baths
6,298 SqFt
Status Active
MLS # 6702331
Property Type Single Family Residence
Price Type --
Fabulous location in Paradise Valley! Great floor plan with primary suite downstairs and 3 split secondary bedrooms, Primary suite has a bonus room for additional closet, nursery, office or studio. Upstairs is a large bonus room for media, playroom, office or hang out room. Spacious main living space has a stunning kitchen with dining and large family room area. Outside is a haven for entertaining with both gas and wood grills, dining gazebo, pool with waterfall, hot tub, bocce ball court, horseshoes and a great play area. Five car garage is split into 3 attached at the main house and an additional detached 2 car garage. Make this home yours!

Forest Road 193 Street Flagstaff, AZ 86001

$3,300,000
5 Beds
3 Baths
1,748 SqFt
Status Active
MLS # 6706061
Property Type Single Family Residence
Price Type --
NEVER BEFORE LISTED. EXPERIENCE THIS 43-ACRE LEGACY PROPERTY BORDERED BY THE NATIONAL FOREST ON THREE SIDES. THIS PROPERTY OFFERS THE VERY BEST VIEWS FLAGSTAFF HAS TO OFFER, AS WELL AS THE IDEAL TOPOGRAPHY FOR A RANCH OR LARGE FAMILY COMPOUND WITH TONS OF FLAT MEADOWS. EXISTING STRUCTURES INCLUDE A NICE 5 BEDROOM 3 BATH HOME AND CHAPEL. THE PROPERTY HAS A WELL, 3000 GALLON FRESH WATER STORAGE TANK, NEW SOLAR POWER SYSTEM, AND SO MUCH MORE. CALL TODAY FOR MORE INFORMATION.

8575 E Sharon Drive Scottsdale, AZ 85260

$3,300,000
4 Beds
4.5 Baths
4,299 SqFt
Status Active
MLS # 6771956
Property Type Single Family Residence
Price Type --
Step into this desert escape with mountain views positioned on a corner lot with a large circular drive. This split open floor plan features 4+ bedrooms, 4.5 baths. As you walk in you are welcomed by vaulted ceilings and picturesque views of the resort-style backyard. Large designer kitchen featuring walk in pantry opens to the family room which is great for all to gather. Spectacular outdoor spaces including sport court, putting green, pool and hot tub cater to all ages. Seller spared no expense including new air conditioning units and solar panels.

10723 E Tamarisk Way Scottsdale, AZ 85262

$3,300,000
3 Beds
4 Baths
3,452 SqFt
Status Active Under Contract
MLS # 6761453
Property Type Single Family Residence
Price Type --
Enjoy magnificent views from this premier lot in the desirable community of Cochise Ridge. The southern outdoor living area is ideally oriented to enjoy panoramic sights of Cochise golf course, mountains, sunsets, and city lights. This property has been thoroughly reimagined under the watchful eyes of designer Laura Weaver and Zobec Construction. The interior layout was redefined to embrace today's lifestyle. Enjoy a large gourmet kitchen with Wolf/Sub Zero appliances centrally located to entertain your guests. The three bedroom redesign also features a home office and a coffee/wine room as additional living spaces. There are two primary suites in the main house and a separate guest casita. Also featuring a fully renovated pool and spa. Rare upgradable DM Lifestyle Membership available.

27974 N 96th Place Scottsdale, AZ 85262

$3,300,000
4 Beds
3.5 Baths
3,948 SqFt
Status Active
MLS # 6711953
Property Type Single Family Residence
Price Type --
ESTANCIA GOLF MEMBERSHIP AVAILABLE SUBJECT TO BOARD APPROVAL. Single-level home on a 1.3 acre lot with south-facing views of Pinnacle Peak from the great room and master bedroom. This custom home has an open floor plan with large kitchen that flows seamlessly to the living and dining areas. Interior features include stone flooring, wood-beamed ceilings, custom cabinetry, stainless steel kitchen appliances, stone fireplace surrounds, 700-bottle wine room & adjacent wet bar. Exterior living area offers a large covered patio with TV area, gas fireplace, heated spa, built-in BBQ station, many mature citrus trees, and a rooftop deck plumbed for a bar with stunning panoramic views. Large solar panel system is owned. Oversized 3-car garage includes an electric vehicle charger. With all the features, views and Golf Membership... this home will sell fast!

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