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

5346 W Posse Drive Eloy, AZ 85131

$499,000

3 Beds

3 Baths

2,139 SqFt

Status Active

MLS # 6674842

Property Type Single Family Residence

Price Type --

FULLY FURNISHED! Beautiful home w/detached casita (bedroom, bath & closet) perfect for friends visiting or a hobby room. Entertainers backyard features a gas fireplace, remote sun shades on patio, beautiful water feature & built in BBQ. Low maintenance synthetic grass, extended paver patio, orange & lime trees! Paver courtyard leading to casita & main entry. 2.5 car garage has a 4 ft ext., epoxy, built in cabinets, sink & service door w/a security door. Den has built in shelving. Spacious laundry room w/lot of cabinets. Bay windows in the master & guest room. Great room has a gas fireplace & built-in shelving. Too many upgrades to list them all. This home comes fully furnished, everything stays & is move-in-ready!

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4112 N 6th Avenue Phoenix, AZ 85013

$499,000

3 Beds

2 Baths

1,215 SqFt

Status Active

MLS # 6679324

Property Type Single Family Residence

Price Type --

Just steps from Phoenix's Melrose District awaits your new home. This remodeled gem boasts 3 beds, 2 baths, and a 1 car garage with easy entry. The kitchen stuns with quartz countertops and new cabinets. Gas stove enthusiasts will love the eat-in kitchen. Enjoy vinyl wood flooring and elegantly redone bathrooms. Dual pane windows flood the space with light. Outside, a covered patio offers endless entertainment possibilities. With Melrose's amenities nearby, embrace a lifestyle of culture and charm.

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15 Maxfield Avenue Bisbee, AZ 85603

$499,000

2 Beds

2.5 Baths

2,636 SqFt

Status Active

MLS # 6680430

Property Type Single Family Residence

Price Type --

An exceptional 1915 structure positioned at the end of the brick road. Exterior walls are large Tufa blocks (a limestone material mined around Douglas, AZ); roof is corrugated metal; interior floors are pine and/or Douglas Fir and Oak. Windows are original, with wavy glass. Ceilings typically 10', except 12' at main bathroom; and 16' at kitchen. Upper level has generous space and light. Sitting rooms, Kitchen, Shower no Tub in Master bath, half bath in hallway, laundry and carport. Lower level was left in its original configuration and consists of a sitting room; bathroom; bedroom; and a partial undeveloped basement. All utilities - water, electrical, waste/drainage - were replaced. Exterior stairs connect upper and lower levels. A few mins walk to downtown Bisbee.

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20825 W Hubbell Street Buckeye, AZ 85396

$499,000

5 Beds

3 Baths

2,327 SqFt

Status Active

MLS # 6681621

Property Type Single Family Residence

Price Type --

Better than new home in Verrado with 5bed/3 bath for under $500K. 12 X 24'' tile throughout most of the downstairs with a full bedroom and bath on the main level.Beautifully upgraded kitchen with quartz counters, herringbone tiled backsplash and stainless steel appliances w/gas range. Plantation shutters throughout the home. Large loft with four bedrooms and two baths upstairs. Enjoy all the amenities that the master planned community of Verrado has to offer with convenient access to restaurants, freeway, shopping/Costco and the new Verrado Marketplace coming next year!

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1510 W Mission Drive Chandler, AZ 85224

$499,000

3 Beds

2 Baths

1,472 SqFt

Status Active

MLS # 6684075

Property Type Single Family Residence

Price Type --

Welcome to this unique Chandler home in an HOA-free neighborhood. Enjoy vaulted ceilings, natural light, and solid hardwood flooring. The master bathroom was custom built with solid Teakwood cabinets, new countertop & new shower flooring. The wood accents T/O this home are complimented by the mature Mesquite, Sweet Acacia, and Olive trees, which has a 10 x 12 treehouse built 10 feet off the ground. The laundry room offers extensive storage. Two 30 gallon Britta soft water filtration tanks. New S/S appliances throughout the home. Covered hot tub for relaxation. Breezeway garage leads to patios. Alley access with dumpsters. Amazing 2 way view fish tank between master and great room. Corner lot with views of school and park. Experience fun & unique.

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4011 W Voltaire Avenue Phoenix, AZ 85029

New

$499,000

4 Beds

2 Baths

2,070 SqFt

Status Active

MLS # 6697045

Property Type Single Family Residence

Price Type --

Welcome to your dream home nestled in the heart of vibrant Phoenix, Arizona! This stunning 4-bedroom, 1.75 bathroom oasis boasts a spacious 2,070 square feet of luxurious living space, meticulously designed for both comfort and style. No HOA. Step inside to discover a modern marvel featuring a blend of contemporary elegance and timeless charm. Adorned with premium upgrades throughout, including exquisite granite countertops, plank tile floors, and extra-tall cabinets, every detail exudes sophistication and quality craftsmanship. Entertain with ease in the expansive living areas, where natural light dances through the shutters, casting a warm glow upon the sleek surfaces. Unwind in the primary bedroom retreat, complete with a charming barn door and tranquil ambiance, offering a sanctuary of relaxation after a long day. Escape to your own private paradise in the backyard haven, where travertine tile and pavers lead the way to a sparkling diving pool, perfect for making a splash on sunny Arizona days. Enjoy dining under the shade of the aluminum gazebo, equipped with electricity for effortless outdoor entertaining. And with a small hand-crank awning on the west side of the patio, you can bask in the sunshine or seek shelter from the elements with ease. But the luxury doesn't stop there - this home is equipped with solar power (loan, not a lease), providing energy efficiency and cost savings for years to come. Plus, with gutters installed for added convenience, every detail has been carefully considered to enhance your living experience. Conveniently located near ASU West, shopping, dining, and more, this is more than just a home - it's a lifestyle. Don't miss your chance to make this exquisite retreat your own and experience the pinnacle of Arizona living. Welcome home!

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1460 N Balboa -- Mesa, AZ 85205

$499,000

3 Beds

2 Baths

1,584 SqFt

Status Active

MLS # 6689627

Property Type Single Family Residence

Price Type --

Nestled in the sought-after community of Cooper Crest, this stunning single-level residence boasts 3 bedrooms, 2 bathrooms, and a 2-car garage. A pinnacle of modern living, this Energy Star-certified home exudes elegance with its premium North/South facing lot, ensuring privacy without rear neighbors. Step inside to discover 9-foot ceilings that elevate the sense of space. The house features tile flooring throughout, adding a touch of luxury and easy maintenance. The kitchen is a chef's delight, with upgraded cabinets, granite countertops, a gas stovetop, and a sprawling island. Adorned with a tiled backsplash and undermount sink, every detail speaks of quality craftsmanship. The primary bedroom with an ensuite bath has dual sinks, a walk-in shower with cultured marble surround, plus a walk-in closet with plenty of room for all your clothes. The two guest bedrooms each feature walk-in closets and share a spacious bathroom. French doors lead to an extended covered patio with a gas BBQ stub, perfect for outdoor entertaining. Enjoy community amenities such as a pool, soccer field, and playground. Conveniently located near shops, restaurants, and top-rated schools, with easy access to Loop 202 and US-60. Don't miss out on this opportunity to own a stunning home with a split floor plan!

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24451 E Karens Way Florence, AZ 85132

$499,000

4 Beds

2 Baths

1,685 SqFt

Status Active

MLS # 6687675

Property Type Single Family Residence

Price Type --

Welcome to this revonated home sitting on 1.28 acres! The property is fully fenced-in, surrounded by a beautiful lush landscape including 54 fruit trees! Entering the home you will be welcomed by a spacious floorplan with vaulted ceilings. Additional upgrades to the home include all new paint, new kitchen cabinets, sink, new faucets, and new granite countertops. Both full bathrooms have double vanities, new shower heads, and faucets. New beautiful floor tile throughout the house. 5 new windows (south side of the house) by Andersen Renewal. Enjoy coffee on the front porch in the mornings and entertain your guests in the evening by the firepit! Plenty of Storage and workshop space! This property has a 9ft by 9ft metal shed, an 8ft by 8ft barn, and a detachable metal garage built by Absolute Steel. 24ft wide by 35ft long by 15.5ft high. and offers a 12ft by 12ft roll-up door, pedestrian door, and 2 windows insulated, with electricity 110/220. An irrigation system is in place to water the garden. The attached garage has an AC split unit and is fully finished with 2 windows. and can be easily converted to additional living space adding approximately 400 sqft.

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13351 W Rowel Road Peoria, AZ 85383

New

$499,000

3 Beds

2 Baths

1,567 SqFt

Status Active

MLS # 6697175

Property Type Single Family Residence

Price Type --

Prime location! Nestled within the beautiful Rancho Cabrillo subdivision with its expansive views, you will enjoy the privacy afforded by the open green space to the left of your home. This home offers an open concept layout with beautiful plank tile flooring throughout. The kitchen is ideal for entertainers with designer cabinets, quartz countertops, a spacious island, and stainless steel appliances. The natural light streaming in through the sliding glass doors will create a warm and inviting atmosphere, especially in the main living area. The owner's retreat is a luxurious sanctuary with a beautiful en suite featuring dual vanities and a subway tiled walk-in shower. A split bedroom floor plan allows for privacy when guests are visiting or use this space for your private office away from the noise. The inclusion of a garage wired for EV cars, ample storage space, and an RV gate are both practical and convenient features. Come check out this newer built home without the wait time.

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16734 E La Montana Drive Fountain Hills, AZ 85268

$499,000

2 Beds

2 Baths

1,452 SqFt

Status Active

MLS # 6692422

Property Type Apartment

Price Type --

Updated ground floor condo overlooking the pool and garden area for year round relaxing and entertaining. Enter into the open floorplan with living, kitchen, breakfast island and dining area. Offering split bedrooms and baths for more privacy plus a den/office/bonus room. Walking distance to Fountain, shopping, post office and restaurants. Private garage and storage room. Lovely small community with Community heated pool and spa and low monthly fees. Community exercize room, gazebo and BBQ grill. Furnishings available on separate Bill of Sale.

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2411 E Delgado Street Phoenix, AZ 85032

$499,000

4 Beds

2 Baths

1,642 SqFt

Status Active

MLS # 6691478

Property Type Single Family Residence

Price Type --

Single story fully remodeled home with 4 bedrooms and 2 full baths. No HOA. New Flooring throughout home, new electrical panel box, new roof, new energy efficient windows and many more. Home has new appliances (Stove, Microwave, Fridge, Dishwasher, Washer and Dryer) with a 5 Year Warranty repair/replace that will transfer over. Become the proud new owner of this beautiful residence in a very quiet North Phoenix area! Experience a good night's sleep in the primary bedroom, offering direct outdoor access and a walk-in closet for convenience. The private backyard, which includes a storage shed. This amazing home is ready for you to move in and enjoy!

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204 S Thunder Mountain Mountain Payson, AZ 85541

$499,000

3 Beds

2 Baths

1,378 SqFt

Status Active

MLS # 6690579

Property Type Single Family Residence

Price Type --

Looking for serene mountain living? Welcome to this exquisite 3-bedroom, 2-bathroom home offering the perfect blend of comfort and luxury amidst Payson's stunning natural beauty. This newly constructed home features an open floor plan with vaulted ceilings, ideal for entertaining. The charming corner kitchen boasts new stainless-steel appliances and granite countertops. Easy-to-maintain vinyl flooring graces the main living areas, while plush, low-pile luxury carpeting adds warmth to the bedrooms. The bathrooms are adorned with elegant tile flooring. The expansive owner's suite includes an ensuite bathroom with a double vanity and an oversized walk-in glass surround shower. Relax on the covered back patio, perfect for observing wildlife or enjoying the summer monsoons. Located just an hour and a half north of Scottsdale, this home offers easy access to hiking trails, kayaking, and the fresh mountain air. Experience the tranquility of mountain living in this remarkable home.

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