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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980 W Santa Fe Drive Wickenburg, AZ 85390
$499,000
3
Beds
2
Baths
2,056
SqFt
Status
Active
MLS #
6651275
Property Type
Single Family Residence
Price Type
--
WHOA no HOA! Invest today & ENJOY THIS SPACIOUS HOUSE ON A HILL w/ VIEWS of the Beautiful Bradshaw/Weaver Mountains*BACK COVERED PATIO provides shade for enjoyable afternoons. GAS bib for GRILL! Natural Light pours into the Bathrooms & almost every room from TUBULAR SKYLIGHTS! Several Mature Trees * RV Gate to the Large Fenced Backyard * Spacious 2,056 SF home on a quiet street * Large Foyer*Formal Living Room* Large Open Kitchen w Island *Custom Oak Cabinets * Cultured Marble Windowsills & Niches * Corner Sink w Outdoor Views * Breakfast Nook w/ Views to the North & East * Nice LG Refrigerator/Freezer * Cozy Gas Fireplace nestled in the Family Room*LARGE WALK IN CLOSETS*PRIMARY ENSUITE*TONS OF STORAGE SPACE* Full wall of Built-in Cabinets, UTILITY SINK & Work & Tool Station in Garage!
2833 Hidden Meadow Lane Bisbee, AZ 85603
$499,000
3
Beds
2
Baths
2,196
SqFt
Status
Active
MLS #
6651882
Property Type
Single Family Residence
Price Type
--
Two parcels include almost 27 acres. Parcels 11057013 & 012. Located about 10 mins from Old Bisbee. Slump block home was built in1984. The upstairs is in renovation state. No further work will be completed. Two stories, main living area upstairs. Downstairs, has Two bedrooms divided by a Jack and Jill Bathroom. Access from downstairs to upstairs, either by interior elevator or exterior spiral staircase. To access the front door, on the upper level, a foot bridge was built through the trees. Upstairs, in the main living area, a traditional Russian brick fireplace. Huge oaks, boulders, and incredible topography can be appreciated from the deck. During Monsoons, the waterfall generates water through the properties creek, fills a man-made pond and hand dug well. Seller will carry short term.
15550 S 5th Avenue Phoenix, AZ 85045
$499,000
2
Beds
2
Baths
1,640
SqFt
Status
Active
MLS #
6653163
Property Type
Apartment
Price Type
--
Unique ground floor unit. Freshly painted cabinets, doors, trim and walls. 12 ft ceilings, 8 ft doors, stainless steel appliances, kitchen island, wine cooler, granite countertops in kitchen and baths, separate tub/shower. Additional storage room next to bath 2. Master Suite has walk in closet and dual vanities, tiled shower and large tub. New AC System 2021. Refrigerator 2019. Microwave 2018. Wine Cooler 2017
15958 W Shangri La Road Surprise, AZ 85379
$499,000
4
Beds
3
Baths
3,077
SqFt
Status
Active
MLS #
6654011
Property Type
Single Family Residence
Price Type
--
This charming property offers comfort and practicality, featuring granite counters, oversize dark maple cabinets, 20' tile flooring, upgraded carpet, and stainless-steel appliances. The kitchen, overlooking the family room, creates a warm atmosphere for gatherings. A separate dining area and a generous living room provide ample space for everyday living. The master bedroom, complete with a sitting room and balcony, it's the perfect comfortable retreat. The backyard offers a refreshing pool, great for relaxation and outdoor enjoyment. Conveniently located close to schools, shopping, entertainment, and restaurants, this home provides accessibility without compromising comfort. Don't miss the opportunity to make this welcoming property your home sweet home
42616 W Kingfisher Drive Maricopa, AZ 85138
$499,000
4
Beds
3
Baths
1,821
SqFt
Status
Active
MLS #
6654188
Property Type
Single Family Residence
Price Type
--
Unique Guest Casita (Unattached) and an Ideal Backyard that is Adjacent to Green Space. Province Amenities are Outstanding. Nearly $30,000 in recent upgrades (see document in tabs). This incredible 4 bed, 3 bath home now available! Discover a desirable open layout adorned w/tall ceilings, neutral paint, plantation shutters, tile flooring, & a warm fireplace. The kitchen is a homeowner's dream, fully equipped w/granite counters & backsplash, wood cabinets, an island w/a breakfast bar, & a breakfast nook w/a bay window. Retreat to the main suite, offering plush carpet, an ensuite w/dual sinks, walk-in closet, & private outdoor access. The backyard promises a tranquil spot for relaxation & year-round entertainment, w/a refreshing pool & a covered patio
16202 S 17th Drive Phoenix, AZ 85045
$499,000
3
Beds
2.5
Baths
2,178
SqFt
Status
Active
MLS #
6654992
Property Type
Single Family Residence
Price Type
--
Incredible 3 bed 2.5 bath residence with mountain views ready for new owners! Immaculate home boasts a new roof in 2020 & new HVAC in 2023! Step inside to high ceilings & welcoming living room open to a spotless kitchen featuring stainless steel appliances, granite counters, a cool copper sink & an island great for gatherings. Spacious loft upstairs, ideal for home office, playroom, arts & crafts, you name it! Double door entry to oversized main bedroom with sitting area, designer paint, 12-ft walk-in closet & private bath with dual sinks. Two more large bedrooms & bath upstairs for family & guests. Tranquil backyard is one of the largest in the area with easy care turf and swaying shade trees. Top rated Kyrene schools, a playground just steps away & mountain trails await!
2102 W Minnezona Avenue Phoenix, AZ 85015
$499,000
5
Beds
3
Baths
2,300
SqFt
Status
Active
MLS #
6659321
Property Type
Single Family Residence
Price Type
--
Amazing investment opportunity includes 3 units! Located on a large corner lot, this property features a unique layout to fit a variety of needs. The main house is 1,600 sqft and features 2 units (Unit A - 2 bed/1bath) (Unit B - 1 Bed/1Bath)! Separated by a wood fence, the separate guest house (Unit C) is 720 sqft and comes equipped with solar panels and it's own backyard/parking featuring 2 bedrooms and 1 bathroom. Come see this home today and don't miss out!
15286 W Linden Street Goodyear, AZ 85338
$499,000
3
Beds
2.5
Baths
1,808
SqFt
Status
Active
MLS #
6664266
Property Type
Single Family Residence
Price Type
--
Welcome to this gorgeous single level home in Estrella Commons! This former model home is the desirable Fairwinds layout with 3 bedrooms, 2.5 bathrooms, and a open great room. The kitchen is gorgeous with granite countertops, tile backsplash, stainless steel appliances, walk-in pantry, and a kitchen island with a breakfast bar and pendant lights. The spacious great room has a center open extended glass door opening up to a oversized paved covered patio. The generously sized primary suite features a ceiling fan and a ensuite bathroom boasting a dual sink vanity, a seperate shower and tub, and a walk-in closet. Bedrooms 2 and 3 are move-in ready! The laundry room has a sink and upper and lower cabinets for additional storage. The backyard is easy care with artificial turf and a built-in BBQ. Do not miss out on this home! Estrella commons is a amenity rich community with walking paths, parks, and sport courts. Plus close to the freeway for quick access more options for dining,shopping, and entertainment!
4686 E Mia Court Gilbert, AZ 85298
$499,000
2
Beds
2
Baths
1,537
SqFt
Status
Active
MLS #
6664275
Property Type
Single Family Residence
Price Type
--
FANTASTIC POOL!! This home sits on a choice corner N/S lot in a cul-de-sac. The model is an Azalea. Very Popular. This is a very active 55+ community of Trilogy At Power Ranch. Gorgeous clubhouse, fitness center, lap and play pools. Tennis, pickleball, Bocce, public golf course with restaurant. Very nice, mature, desert landscaping, fruit trees and relaxing pool features. 2 bed/2bath. Large primary bedroom. THIS HOME IS A MUST SEE!!!
2323 N Central Avenue Phoenix, AZ 85004
$499,000
2
Beds
2
Baths
1,398
SqFt
Status
Active
MLS #
6665758
Property Type
Apartment
Price Type
--
Experience elevated urban living in this 2 bed, 2 bath condo on the 19th floor of Regency on Central, a historic mid-century luxury high-rise located steps from the light rail, dining, retail, and entertainment in the heart of vibrant Phoenix. Freshly painted interiors with stained wood trim and plush new carpets in bedrooms create a serene retreat. Enjoy a modern kitchen with granite counters and stainless steel appliances. Revel in the breathtaking skyline views from your private balcony. Building amenities include a heated pool, spa, fitness center, 24/7 door personnel, and more.
608 Tiburon Drive Prescott, AZ 86303
$499,000
3
Beds
2
Baths
1,666
SqFt
Status
Active
MLS #
6665821
Property Type
Single Family Residence
Price Type
--
In the tall, cool pines of Hassayampa Mountain Club you will find this adorable 1666 SF, 3BR/2BA cottage. Primary living, livingroom, kitchen, dining area, laundry and large 1 car garage are on the first floor. Upstairs are two bedrooms and bath, furnace room with newer water heater that doubles as storage closet too. Fenced in backyard with stairs off the back deck for your furry friend and an 8 X12 SF shed with electricity. There is an additional parking space in the front for a large truck or small RV. Make this your primary home or summer get away from the Phoenix heat!
17832 W Voltaire Street Surprise, AZ 85388
Open House
$499,000
5
Beds
2.5
Baths
2,950
SqFt
Status
Active
MLS #
6666853
Property Type
Single Family Residence
Price Type
--
Buy this amazing home for as little as 1% down. The home was recently painted inside and out. New carpet throughout. Lots of space for your growing family. 5 bedrooms and a huge loft to call home.. 3 car garage for all of your toys. Sarah Ann Ranch, a totally quiet neighborhood at the end of Waddell Road....