Is 2017 the Year to Move Up to Your Dream Home? If So, Do It Early!

If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:

Freddie Mac

“While full employment and rising inflation are signs of a strong economy, they also have the potential to push mortgage rates and house prices up. The higher rates and higher prices create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017.”

Lynn Fisher, Vice President of Research & Economics for the Mortgage Bankers Association

“By the time we get to the fourth quarter of this year, we will still be under 5 percent – we are thinking 4.7 percent…Something north of 5 percent by the time we get to 2018, and by the time we get to 2019, we show fourth-quarter rates hitting 5.5 percent.”

Mark Fleming, First American’s Chief Economist

“Despite some regional disparities, title agents and real estate professionals do not expect increasing mortgage rates to have a significant impact on the housing market this spring. Continued good economic news, increasing Millennial demand and confidence that buyers will remain in the market even if rates exceed 5 percent bode well for 2017 real estate.”

Len Kiefer, Deputy Chief Economist for Freddie Mac

“We will probably see rates higher at the end of year, around 4.5%.”

Bottom Line

If you are feeling good about your family’s economic future and are considering making a move to your dream home, doing it sooner rather than later makes the most sense.  Give me a call for more information – J.P. Cook – 602-320-4253.

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23028 E Firestone Drive Queen Creek, AZ 85142

$456,490

3 Beds

2 Baths

1,877 SqFt

Status Active

MLS # 6658434

Property Type Single Family Residence

Price Type --

This is a To-Be-Built home, build time is 6-7 months from contract. There is still time to add your own personal touch to this home with design options from our Design Studio. Home price will fluctuate based on design options selected. Ask sales associate about financing promotions and other quick move-in inventory. 3 bedroom, office and 2 bath split layout. This is an unstarted New Build Home in a brand-new community in Queen Creek. Home price reflects base price with original layout. Make this home truly your own with structural upgrades and design options from our Design Studio, adding your own personal touch. Home price will fluctuate based on structural and design options selected.

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389 S 163rd Lane Goodyear, AZ 85338

$456,000

4 Beds

2.5 Baths

2,305 SqFt

Status Active

MLS # 6629566

Property Type Single Family Residence

Price Type --

Nestled in Goodyear, this beautiful 4 bedroom, 2.5 bathroom home invites you to experience the epitome of comfort and style. The spacious living are bathed in natural light sets the stage for big family gatherings or entertaining friends. The four bedrooms provide comfort sanctuaries, each thoughtfully designed to create a sense of tranquility. The primary suite, with its ensuite bathroom, offers private escape for relaxation and rejuvenation. Plus, get ready for non-stop excitement with live events at the Goodyear Ballpark throughout the year, including Major League Baseball Spring Training games, making every season a memorable one. Seize this golden opportunity to call this exceptional home yours and live in the heart of all that Goodyear has to offer!

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30727 W Amelia Avenue Buckeye, AZ 85396

$456,000

5 Beds

3 Baths

2,597 SqFt

Status Active

MLS # 6672307

Property Type Single Family Residence

Price Type --

Welcome to this charming residence in Buckeye. This single-family home features 5 bedrooms and 3 bathrooms, offering a comfortable and inviting living space. The well-designed floor plan encompasses 2,558 square feet of living space, providing ample room for both relaxation and entertaining. The kitchen is equipped with gas stove making it a hub for culinary enthusiasts. This property boasts 20ft ceilings, custom backyard, adding to its appeal. The Splashed is just a short distance away, enhancing the overall lifestyle this location provides. Take advantage of this fantastic opportunity to own a residence in the thriving community of Buckeye

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19655 W Windsor Avenue Buckeye, AZ 85396

$455,995

4 Beds

3 Baths

2,070 SqFt

Status Active

MLS # 6642364

Property Type Single Family Residence

Price Type --

The thoughtfully designed Slate floor plan opens with two bedrooms and a full hall bath. Beyond the entry, you'll find an open layout with a dining nook, a great room with access to an inviting covered patio, and a kitchen with a center island, walk-in pantry and abundant cabinetry. The owner's suite is nearby, offering a generous walk-in closet and a private bath with dual sinks, a shower and a separate soaking tub. A laundry room and a fourth bedroom with its own private bath complete the home. Enjoy your 2 car garage with a side garage service door for easy access to your large backyard.

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