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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606 S Fountaine Street Flagstaff, AZ 86001

$500,000
2 Beds
1 Bath
1,150 SqFt
Status Active
MLS # 6688896
Property Type Single Family Residence
Price Type --
This charming fixer-upper with endless potential, sold ''AS IS'' for your creative vision to flourish right next to Northern Arizona University. This come has a comfortable living space that would be ideal for students or professionals. Don't miss out on this great opportunity.

3761 E Thornton Avenue Gilbert, AZ 85297

$500,000
4 Beds
2 Baths
1,647 SqFt
Status Active
MLS # 6688799
Property Type Single Family Residence
Price Type --
Rare opportunity to own in Coronado Ranch. Located in 85297 near Gilbert Regional Park, this 4 bed 2 bath 1647 sqft home has vaulted ceiling and spacious back yard, great for gardening and entertaining. Neighborhood is family friendly, has two parks, and a splash pad. Built in 2001 this home has only had 2 owners. Grocery, gas, pharmacy, and other shopping all within 1-2 miles. In 2023 Higley Unified School District rated ''A'' by AZ Dept of Education. Owner/agent listing Home is being sold AS-IS.

19005 W Rancho Drive Litchfield Park, AZ 85340

$500,000
4 Beds
3 Baths
2,227 SqFt
Status Active
MLS # 6690702
Property Type Single Family Residence
Price Type --
Beautiful home in the Zanjero Trails community offers a wonderful blend of modern amenities, stunning mountain views, and a true Arizona lifestyle. Here's a closer look at what this property has to offer. Breathtaking Mountain Views: The corner lot location provides stunning mountain views that are sure to leave you in awe. Corner Lot Next to the Park: Being situated next to the park adds an extra element of space and serenity to the property. Spacious and Functional Floorplan: The 4-bedroom, 2-bathroom home features a split floor plan, offering privacy and comfort for residents. Gourmet Kitchen: The kitchen is a standout feature with granite countertops, stainless steel appliances, a large island, and a water fill at the stove—a perfect setup for cooking enthusiasts. Luxurious Master Suite: The private master bedroom is spacious and includes double sinks, a walk-in closet, and a custom glass shower with double shower heads, including a rain dial showerhead. Outdoor Oasis: The backyard offers a private retreat with a privacy fence, artificial grass, a water fountain, and views overlooking the park. It's an ideal space for outdoor gatherings, relaxation, or enjoying the Arizona sunsets. Cozy Patio: The patio provides a comfortable spot to relax and take in the views or entertain guests. Priced to Sell: With all these wonderful features, the home is priced to sell, offering great value for potential buyers. True Arizona Lifestyle: Living in Zanjero Trails allows residents to embrace the true Arizona lifestyle, with its stunning views, outdoor recreation, and community amenities. Overall, this home seems to offer a perfect balance of modern comfort, outdoor living, and the beauty of its natural surroundings. Whether you're enjoying the mountain views from the backyard, cooking in the gourmet kitchen, or relaxing in the luxurious master suite, this property embodies the essence of Arizona living.

7580 E Earll Drive Scottsdale, AZ 85251

$500,000
2 Beds
2 Baths
1,397 SqFt
Status Active
MLS # 6697555
Property Type Townhouse
Price Type --
Rare 1-car garage Luxury Condo in TOP Scottsdale location!!! Step into luxury living in this charming GATED community nestled in Old Town Scottsdale. This inviting 2-bedroom unit boasts an airy open floor plan with super high soaring ceilings and a cozy gas fireplace in the living room. Beautifully updated home with all appliances included, both bedrooms feature spacious walk-in closets and access to a covered outdoor balcony. BEST LOCATION! Whether you're looking for a primary residence or a vacation getaway, this condo is ideal. Explore the vibrant neighborhood with easy access to top-notch dining, shopping, nightlife, golf courses, and the excitement of Giants Spring Training games. Experience the best of Scottsdale living right at your doorstep! Don't wait! Come see!

6287 N 88th Avenue Glendale, AZ 85305

$500,000
4 Beds
2 Baths
2,092 SqFt
Status Active
MLS # 6691253
Property Type Single Family Residence
Price Type --
Remodeled Home with gorgeous Hickory Kitchen cabinets & GRANITE counter tops. Eat in Kitchen with bay window center Island counter. Kitchen opens into spacious family room, Spacious primary bedroom with bay window, vaulted ceiling, remodeled gorgeous bathroom, walk in closet. Ceramic and laminated flooring. Kitchen and all bathrooms were remodeled approx 2 years ago. Spacious rear yard, fenced sparkling pool resurfaced yr 2018 , Separate grass area, 11 foot R.V. Gates, Separate building, ideal for workshop or hobby room, Appliance only 2years & included. Golf course in community , approx 3 blocks from West Gate Entertainment Center with Cardinals Stadium, restaurants, shopping, Convenient to 101 freeway.

1914 N 140th Avenue Goodyear, AZ 85395

$500,000
3 Beds
2.5 Baths
1,983 SqFt
Status Active
MLS # 6691426
Property Type Townhouse
Price Type --
Elegant, Modern, Energy-Efficient, 2021 New, 1 Level, 3 Bed, 3 Bath (2.5), 2 Car Garage home with over $50K in builder upgrades! Located 1 mile N. of i10, in 'The Vistas' a exclusive gated community of Palm Valley'. Top Rated Schools, Great Hearts Charter & Millennium High, shopping, dining, and golf. This open floor plan home is designed around an amazing kitchen overlooking the Dinning-Great Rooms with 3 Lr sliding glass doors theres an abundance of bright, cheery natural light! Relax in your private backyard under the cover patio or have fun in your beatiful community pool & grilling area, which this home butts up to! Yes, this home does has one of the best lot locations in The Vistas! Tankless hot water heater & water softener are included in this must see home!

12101 N 141st Lane Surprise, AZ 85379

$500,000
4 Beds
2 Baths
2,062 SqFt
Status Active
MLS # 6692288
Property Type Single Family Residence
Price Type --
Upgrades galore in this popular Richmond American Floorplan. Property has just been remodeled. Vinyl Plank flooring throughout, Freshly painted interior, Tile surrounding tub and showers, New countertops (square sinks) and fixtures in all bathrooms. Kitchen features Quartz countertops and all new Stainless steel appliances including a popular gas stove. Inside laundry features a Laundry sink and a hookup for either a gas or electric dryer. 3 car garage with electric openers for easy access and plumbed for a water softener. All this and solar too!

2331 E Evans Drive Phoenix, AZ 85022

$500,000
3 Beds
2.5 Baths
1,987 SqFt
Status Active
MLS # 6695130
Property Type Townhouse
Price Type --
Live luxuriously in this Phoenix home! Just off AZ-51, this home features a 2-story layout around a private outdoor courtyard. Downstairs boasts new concrete flooring, wood fireplace, and easy outdoor access. The kitchen features stainless steel appliances, soapstone countertops, and a sliding door to the garage. Upstairs, find new hardwood flooring leading to the primary bedroom with its own balcony, a large walk-in closet, and updated bathroom. The two spacious guest bedrooms share a full bath with brand new mirrors and fixtures. Outside, the courtyard offers ample space and gorgeous landscaping. Other updates include a new roof (2023), new water softener (2023), solar panels, and a new washer/dryer. The community features a pool within walking distance and guest parking. Conveniently located near shopping, dining, the Phoenix Mountain Preserve, and Lookout Mountain Preserve.

21382 E Estrella Court Queen Creek, AZ 85142

$500,000
3 Beds
2 Baths
1,730 SqFt
Status Active
MLS # 6698740
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This meticulously maintained residence is a true gem, boasting a level of quality that surpasses even new builds. Step inside and be greeted by NEW hardwood flooring, NEW carpet in bedrooms and NEW fresh white paint T/O. This home features 3 spacious bedrooms, providing ample space. Need a dedicated workspace or a cozy reading nook? You're in luck - there's also a versatile den that can easily adapt to your needs. With 2 bathrooms, mornings will be a breeze, offering convenience and functionality for your daily routine. And here's the best part - no neighbors behind you! Enjoy privacy and tranquility in your backyard retreat, perfect for entertaining or simply unwinding after a long day. Situated in an ideal location, this home offers easy access to all the amenities of Queen Creek. Whether it's shopping, dining, parks, or schools, everything you need is just moments away.

3740 E Timberline Road Gilbert, AZ 85297

$500,000
4 Beds
2 Baths
1,749 SqFt
Status Active
MLS # 6694147
Property Type Single Family Residence
Price Type --
FRESH & CLEAN MOVE-IN READY 4 bdrm/2 bath in POWER RANCH! This is ready for you!! Freshly painted inside & out! New roof, new carpet, new light fixtures & ceiling fans. Plantation shutters through-out. Eat in kitchen w/stainless steel appliances & breakfast bar. Full Mstr bath w/separate shower/tub & dual sinks. WOW!! The Community Amenities abound!! Pools, splash pads, neighborhood parks, playgrounds, fishing lakes, soccer fields, tennis, volleyball & basketball courts. Over 26 miles of trails connecting each neighborhood with each other in Power Ranch. Walking distance to elementary school. Close to shopping, ASU Poly Tech campus and the Phoenix-Mesa Gateway Airport. WELCOME HOME!!

4608 E Desert Drive Phoenix, AZ 85044

$500,000
2 Beds
2 Baths
1,596 SqFt
Status Active
MLS # 6645498
Property Type Townhouse
Price Type --
Single level Garden Home in the Pointe South Mountain. Situtated in back of the community on a cul-de-sac. Home features 2 bedroom split for plan with a den/office. Both bedrooms have walk in closets. Both bathrooms updated. Flooring is 16x16 Travertine in all main living areas and carpet in bedrooms. Fireplace has been converted to gas. Relax in the spacious outdoor patio area with views of south mountain. Pointe community features 4 pools, 2 of them are heated. Walking path to South Mountain just steps away.

7530 E Mariposa Drive Scottsdale, AZ 85251

$500,000
3 Beds
3 Baths
1,631 SqFt
Status Active
MLS # 6689305
Property Type Townhouse
Price Type --
Welcome to your new home in Scottsdale's Villa Monterey 55+ community, a haven of comfort and style. This inviting residence boasts stunning white marble flooring throughout, with elegant wood flooring downstairs and plush carpeting upstairs. The bathrooms showcase exquisite Italian tile. Bask in the sun-filled living spaces and entertain in your private courtyard. Experience hassle-free living in this welcoming community with the community pool, hot tub, family gathering space And pickle ball court. Ideally situated near the shops and dining. The attractions of Old Town Scottsdale, Fashion Square, and Scottsdale Quarter all near by.

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