Mortgage Rates Impact on 2017 Home Values

Mortgage Rates Impact on 2017 Home Values | Simplifying The Market

There is no doubt that historically low mortgage interest rates were a major impetus to housing recovery over the last several years. However, many industry experts are showing concern about the possible effect that the rising rates will have moving forward.

The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are all projecting that mortgage interest rates will move upward in 2017. Increasing interest rates will definitely impact purchasers and may stifle demand.

In a recent study of industry experts, “rising mortgage interest rates, and their impact on mortgage affordability” was named by 56% as the force they think will have the most significant impact on U.S. housing in 2017. If rising rates slow demand for housing, home values will be impacted.

To this point, Pulsenomics, recently surveyed a panel of over 100 economists, investment strategists, and housing market analysts, asking the question “In your opinion, at what level will the 30-year fixed rate mortgage rate significantly slow home value appreciation?” The survey revealed the following:

Mortgage Rates Impact on 2017 Home Values | Simplifying The Market

Bottom Line

Most experts believe that rates would need to hit 5% or above to have an impact on home prices.  Give me a call to discuss – J.P. Cook – 602-320-4253.

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7444 W Quail Track Drive Peoria, AZ 85383

$629,900 - 3Br/3Ba -  for Sale in Aloravita North Phase 3 Parcel 4, Peoria
Open House
$629,900
3 Beds
2.5 Baths
1,989 SqFt
Status Active
MLS # 6755375
Property Type Single Family Residence
Price Type --
Ahh the smell of new-October completion! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'Amherst' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes White Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 8' doors, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos of similar spec home to show layout, options may vary**

16111 E Kingstree Boulevard Unit 3 Fountain Hills, AZ 85268

$629,900
3 Beds
2 Baths
2,139 SqFt
Status Active
MLS # 6761289
Property Type Single Family Residence
Price Type --
Discover a rare fully-renovated gem in the heart of Fountain Hills! This stunning single-level, end-unit patio home is part of an exclusive enclave with only six units, offering a serene and private living experience. With breathtaking mountain views, this 3-bedroom, 2-bathroom property combines luxury with tranquility. Enter through a private courtyard into an expansive great room featuring a cozy fireplace, perfect for relaxing evenings. The formal dining room seamlessly flows to both the back and side patios through elegant sliding doors, ideal for indoor-outdoor living. The split floor plan provides privacy for the spacious master suite, which boasts a spa-like bath with a double-sink vanity, separate tub and shower, a large walk-in closet, and direct access to your private enclosed backyard oasis. Enjoy the community amenities, including a relaxing hot tub and pool, surrounded by the natural beauty of Fountain Hills. This vibrant community offers something for everyone, from the iconic Fountain and the winter concert series in the park to scenic walking trails, a farmers market, and dining options that will delight your family and guests. Experience the perfect blend of luxury and lifestyle in this meticulously remodeled home. Don't miss out on this rare opportunity!

27476 N 125th Drive Peoria, AZ 85383

$629,900
2 Beds
2 Baths
1,885 SqFt
Status Active
MLS # 6765803
Property Type Single Family Residence
Price Type --
Gorgeous 2-bedroom, 2-bathroom home located in Trilogy at Vistancia, Peoria's premier 55+ community. Situated on a professionally desert-landscaped 14,205 sq ft corner lot, the home has been meticulously maintained and highly upgraded. Upon entry, you'll be welcomed into an open kitchen and great room featuring freshly painted cabinets, custom epoxy countertops, an oversized island, a pantry, a stainless-steel appliance package, and a wine fridge. The family and dining rooms showcase modern light fixtures, a fireplace, built-in surround sound, and large windows that provide plenty of natural light. The split floor plan includes an oversized den, perfect for a home office or man cave, and the primary suite, complete with a spacious walk-in closet, dual sinks, a walk-in tile shower... ...and a private toilet closet. Additional features and upgrades include a private patio with a water feature, interior laundry, a heated and cooled garage with LED lighting and custom storage shelves, a tankless water heater, and a 3-zone wireless Honeywell HVAC control system. Reach out for the full list of upgrades. This home has so much more to offerdon't miss your opportunity to own this gem! Get your private tour today and experience it for yourself.

3800 S Cantabria Circle Unit 1067 Chandler, AZ 85248

$629,900
3 Beds
3 Baths
2,218 SqFt
Status Active
MLS # 6782150
Property Type Townhouse
Price Type --
Experience COUNTRY CLUB living in this stunning gated community! This home boasts breathtaking views of the Community Lake and Golf Course. Enjoy the scenery from inside or the back patio and master balcony, perfect for morning coffee or evening relaxation. Upstairs, you'll find a spacious loft, a guest room(2nd master), and the master suite. Each room boasts it's own balcony. Downstairs features a gorgeous great room with soaring ceilings and a gas Fireplace. Luxury kitchen with Stainless Steel appliances and view. One HVAC unit is only 6 years old, while the other remains original but works great. Units have been serviced annually. Live in luxury and comfort with the best of both worlds! The roof was replaced in 2021 and the HOA will be painting the exteriors of all units in 2025. the downstairs bedroom is being used as a Den and has no closet. But with a full bath downstairs, this is an easy bedroom for guests or mom on the ground floor!

10919 S Dreamy Drive Goodyear, AZ 85338

$629,900
4 Beds
3 Baths
2,328 SqFt
Status Active
MLS # 6782189
Property Type Single Family Residence
Price Type --
Spacious two-story home just steps from the scenic South Lake in Estrella Mountain Ranch! Perfectly situated on a premium view lot backing to a natural wash, this 4-bedroom, 2.5-bath home offers luxurious outdoor living with a heated pebble-tec pool. Inside, enjoy soaring vaulted ceilings in the Grand Entry and Master Suite, where breathtaking sunrise and sunset mountain views await from a private balcony. An expansive 3-car garage provides ample parking and storage. Explore a scenic 2.3-mile lakeside path, plus thrilling hiking, mountain biking, community pools, and workout facilities. Nearby, the world-class Golf Club of Estrella—a Troon-managed, Nicklaus Design course—completes this exceptional lifestyle.

21275 N 65th Avenue Glendale, AZ 85308

$629,900
4 Beds
2 Baths
2,164 SqFt
Status Active Under Contract
MLS # 6781942
Property Type Single Family Residence
Price Type --
Gorgeously renovated 4 bed 2 bath home in Arrowhead Ranch with stunning golf course views! This house has everything - newly installed luxury vinyl plank floors throughout, an entertainer's dream kitchen, and bright & airy spaces to dine, relax and watch the Arizona sunsets. Open concept kitchen features vaulted ceilings, new shaker cabinets, white quartz countertops, & large peninsula complete with breakfast bar & extra storage. Spacious primary bedroom has large walk-in closet and spa-like renovated bathroom. 2+ car garage will fit all your toys. Backyard is an outdoor oasis with covered patio, new irrigation, and steps from the driving range. Big ticket items completed recently include full roof replacement (2016) & HVAC (2023).

18228 N 60th Drive Glendale, AZ 85308

$629,900
4 Beds
3 Baths
2,362 SqFt
Status Active Under Contract
MLS # 6778436
Property Type Single Family Residence
Price Type --
***RARE FIND*** RV Garage with LIFT Plus a 3 Car Garage, Large Lot, Pool & NO HOA!!! Don't miss out on this fantastic tri-level home with excellent location at Sunset Vista! Showcasing great curb appeal, RV gate, and a no-fuss landscape. PLUS! A detached RV garage with a lift and split AC unit! The interior boasts vaulted ceilings, wood-look floors, carpet in the right places, and plantation shutters. Discover bright living and dining rooms. Continue into the impeccable kitchen to find track lighting, ample wood cabinets, tile backsplash, granite counters, SS appliances, and an island. The lovely breakfast room overlooks the spacious family room, outfitted with a wood burning fireplace, wet bar, and backyard access, promoting easy entertaining. The owner's suite has a lavish ensuite featuring high-end details, including a granite vanity, freestanding tub, and a walk-in shower with a double wall-mounted shower panel. Outside, the side yard hosts a workshop with epoxy floor. The backyard offers a cozy covered deck, multiple covered patios, fire pit, artificial lawn, a fenced pool with grotto/waterfall, and a hot tub under the pergola. This beauty has it all! Run, don't walk to see this gem!

17691 W Cottonwood Lane Goodyear, AZ 85338

$629,900
3 Beds
3 Baths
2,202 SqFt
Status Active
MLS # 6722226
Property Type Single Family Residence
Price Type --
Welcome Home!!! This gorgeous 3 bedroom 3 bath home with a Casita at the desirable 55+ active community of CantaMia/Province at Estrella Mountain Ranch in in a fantastic location. Close to restaurants, shopping, parks & golfing at the Golf Club of Estrella. As soon as you step into this gated community home, you can see the pride of ownership with all that has been done. This elegant kitchen offers granite counter tops, a large island/breakfast bar for extra prep & storage, black appliances, filtered water, a pantry, full height travertine backsplashes & stunning crown molding cabinetry. Your spacious master suite offers a plethora of natural light from your bay windows, a walk in closet, dual vanity, a walk in shower & soaking tub to enjoy, as well as direct access to your backyard oasis . This gated community home also offers paid for solar (owned/no lease), upgraded ceiling fans & lighting, a casista with a full bathroom, a neutral paint scheme with accent walls, a den/office area to utilize, a 2 car garage with a water softener & central vacuum system, as well as a backyard oasis that includes a large covered patio, extended travertine pavers, mature desert landscaping & a sparkling heated pool to enjoy all year round. Your community at CantaMia has so much to offer to it residents. There is a state of the art fitness center with massage & spa rooms, an indoor & outdoor pool, a billiards room, library, lounge, numerous crafts & workshops, a cyber cafe & a demonstration kitchen, a dog park, as well as outdoor activities such as: pickleball, bocce ball, horseshoes & tennis courts are available at Estrella. This gem in the desert is a Great Buy & a Must See!!! **Furniture is available on a separate bill of sale.

20417 W Bradley Road Wittmann, AZ 85361

$629,900
4 Beds
2 Baths
2,191 SqFt
Status Active
MLS # 6721052
Property Type Single Family Residence
Price Type --
Beautiful home in West Bradley Road, Wittmann, Arizona.

21520 W Watkins Street Buckeye, AZ 85326

$629,900
3 Beds
2 Baths
1,644 SqFt
Status Active
MLS # 6730156
Property Type Single Family Residence
Price Type --
Beautiful well-cared for 3-bed/2-bath on 1-ACRE, IRRIGATED LOT WITH HORSE PRIVILEGES. Quality constructed CUSTOM HOME with 2 x 6 framing, NEWER ROOF (2020), ALL NEW LOW-E WINDOWS (2024), TRANE 18-SEER Variable Speed A/C (2016), Porcelain faux-wood tile throughout living space, upgraded custom closets in all closets. Fully fenced back yard with a fenced off area and shade structure for horses. Water available at horse shade with conduit run for electric. RV Parking w/30-AMP hook-up. 3-Car Extended Length Garage. 10' X 14' Tuff Shed Storage w/ upgraded floor and radiant roof barrier for extra insulation. Nestled in a quiet, established neighborhood with *NO HOA*. A short drive from Costco, New Banner Hospital (planned for 2025), schools and I-10 freeway. See Docs for nearby horse arenas.

3122 E Windmere Drive Phoenix, AZ 85048

$629,900
4 Beds
2.5 Baths
2,104 SqFt
Status Active
MLS # 6753762
Property Type Single Family Residence
Price Type --
Welcome home! This beautiful residence is in the gated Estates at the Ranch, an exclusive single-story home Community in the award-winning Mountain Park Ranch. Offering 4 beds, 2.5 baths, 2-car garage, & a low-care landscape. Discover a large living/dining room combo and a separate family room w/fireplace & surround sound! Tall ceilings add to the airy feel, complemented by plantation shutters, & tile flooring in common areas. The kitchen boasts built-in appliances w/cooktop elec, granite counters, recessed lighting, ample wood cabinets, and a breakfast area. Carpeted double-door main bedroom has outdoor access and an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Enjoy the entertainer's backyard with a covered patio, firepit, built-in BBQ, & a sparkling pool!

12375 S 181st Drive Goodyear, AZ 85338

$629,900
4 Beds
2.5 Baths
2,700 SqFt
Status Active
MLS # 6764643
Property Type Single Family Residence
Price Type --
FURNISHED home! GATED community 4 bed, 2.5 bath residence is the one for you! Featuring a stunning façade w/stone accents, low maintenance landscape, & a 3 car garage! Discover an elegant interior boasting graceful archways, plantation shutters, recessed lighting, soft carpet in all the right places, and warm palette throughout. The formal dining room, w/its dazzling chandelier, is sure to delight your guest! You'll also find a spacious living area w/a dry bar and a fireplace to keep you warm during the winter months. The gorgeous kitchen is equipped w/everything the aspiring chef needs, staggered cabinetry w/crown molding, a pantry, granite counters, tile backsplash, SS appliances such as a wall oven, an island complete w/a breakfast bar, and a breakfast nook. #Location is ideal!! You'll love the primary bedroom, boasting private outdoor access, a large walk-in closet, and a lavish ensuite w/dual vanities & a makeup table with spa amenities- SNAIL shower and Garden tub. Laundry room includes built-in cabinetry and a convenient utility sink. Finally, the wonderful backyard showcases a covered patio, extended paver seating areas, an attached pergola, and a built-in BBQ perfect for a cookout w/friends & loved ones! Split Floor plan / with Front Courtyard & a Gated golf course community (THE FAIRWAYS at ESTRELLA MOUNTAIN). ahh.. have peace of mind with energy efficiency- Brand NEW HVAC system installed April 2024! WOW - SOLAR savings..$$$!!. Cul De Sac private street- What are you waiting for? Act now

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