3 Questions to Ask If You Want to Buy Your Dream Home

If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interest at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.

Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market.

1. Why am I buying a home in the first place? 

This is truly the most important question to answer. Forget the finances for a minute. Why did you even begin to consider purchasing a home? For most, the reason has nothing to do with money.

For example, a survey by Braun showed that over 75% of parents say “their child’s education is an important part of the search for a new home.”

This survey supports a study by the Joint Center for Housing Studies at Harvard University which revealed that the top four reasons Americans buy a home have nothing to do with money. They are:

• A good place to raise children and for them to get a good education
• A place where you and your family feel safe
• More space for you and your family
• Control of that space

What does owning a home mean to you? What non-financial benefits will you and your family gain from owning a home? The answer to that question should be the biggest reason you decide to purchase or not.

2. Where are home values headed?

According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the median price of homes sold in December (the latest data available) was $232,200, up 4.0% from last year. This increase also marks the 58th consecutive month with year-over-year gains.

If we look at the numbers year over year, CoreLogic forecasted a rise by 4.7% from December 2016 to December 2017. On a home that costs $250,000 today, that same home will cost you an additional $11,750 if you wait until next year.

What does that mean to you?

Simply put, with prices increasing each month, it might cost you more if you wait until next year to buy. Your down payment will also need to be higher in order to account for the higher price of the home you wish to buy.

3. Where are mortgage interest rates headed?

A buyer must be concerned about more than just prices. The ‘long-term cost’ of a home can be dramatically impacted by even a small increase in mortgage rates.

The Mortgage Bankers Association (MBA), the National Association of Realtors, and Fannie Mae have all projected that mortgage interest rates will increase over the next twelve months, as you can see in the chart below:

Bottom Line

Only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision.  Give me a call for some professional advice – J.P. Cook – 602-320-4253.

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Sort by: Select Price, Low to High Price, High to Low Newer Listings First Older Listings First Open House Date

4122 S 185th Lane Goodyear, AZ 85338

$499,000

3 Beds

2.5 Baths

2,688 SqFt

Status Active

MLS # 6631109

Property Type Single Family Residence

Price Type --

Rates are too high client is willing to help with a 2/1 buy down. Ask your agent for details. This beautiful home check a lot of boxes. Owned solar panels, home over 2600 square feet, , wood flooring throughout. This beautiful home is made to entertain with the gourmet kitchen with open sight lines into the living room. Large walk-in closets and convenient upstairs laundry.

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19550 N Grayhawk Drive Scottsdale, AZ 85255

$499,000

2 Beds

2 Baths

1,311 SqFt

Status Active

MLS # 6634932

Property Type Townhouse

Price Type --

New carpet and new hard surfaces throughout Beautiful 2 bedroom 2 bath unit in double gated highly sought after Grayhawk Retreat Brand new flooring Full rec center and Pool/Spa facility Double patios and granite countertops in kitchen with luxurious breakfast bar Fireplace in great room/dining area Single car garage living area all on one level Only 1 owner! CLA for any other questions

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6081 W Estancia Way Florence, AZ 85132

$499,000

4 Beds

2.5 Baths

3,737 SqFt

Status Active

MLS # 6636271

Property Type Single Family Residence

Price Type --

This home has many features you have never seen at this price point. There is an elevator from the living room to the loft for those who struggle with stairs. Yard has a gorgeous heat pump heated pool, patio with custom finishes, lots of LED lighting. A true place to relax and unwind. The house itself has all hard flooring. Fabulous kitchen with SS appliances, gas cook top, granite, island, pot rack. Great room plus formal living room/dining room. Den on 1st floor. Huge laundry room. Lots of storage. Beautiful loft area. All bedrooms have walk-in closets and master has an attached bath and 2 huge walk-in closets. 3 car garage has a mini-split and very upgraded electrical. And all in the resort community of Anthem at Merrill Ranch. Amenities galore.

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5104 N 32nd Street Phoenix, AZ 85018

$499,000

2 Beds

2 Baths

1,277 SqFt

Status Active

MLS # 6639426

Property Type Apartment

Price Type --

Stunning fully remodeled condo in the heart of the Biltmore Corridor. Light & bright two bedroom/two bath north facing single-level split floor plan condo in the much sought after Meridian Condominiums, a part of the Arizona Biltmore Estates Village. Turn-key & move-in ready as a winter getaway or a full time residence. The gated community provides elevator access, underground garage reserved parking, a year-round heated resort-style pool, jacuzzi spa, gas BBQ grills, fitness room, sauna/locker rooms & plenty of green space. Walk thru private security gate to access adjacent restaurants and shopping.

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3199 N Desert Horizons Lane Casa Grande, AZ 85122

$499,000

5 Beds

3 Baths

3,554 SqFt

Status Active

MLS # 6646010

Property Type Single Family Residence

Price Type --

Villago near the Lake, Discover this exquisite 5+ bed, 3-bath residence boasting a 2-car garage, extended driveway, and elegant brick veneers. The living room showcases high ceilings, a neutral palette, and sleek tile flooring. The family room provides a cozy setting for intimate moments. The formal dining room is perfect for hosting dinner parties. The kitchen comes with granite counters, cabinets with crown molding, SS appliances, recessed lighting, a walk-in pantry, a center island, and peninsula with a breakfast bar. The loft is ideal for a media room Master bedroom offers vaulted ceilings, plush carpeting, and an ensuite with dual sinks and a walk-in closet. The backyard is complete with a covered patio, low-maintenance turf, and a refreshing private pool. High speed for your office.

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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!

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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

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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

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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

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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!

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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.

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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!!!

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