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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38407 N Front Runner Lane San Tan Valley, AZ 85140

$497,490
4 Beds
3 Baths
2,549 SqFt
Status Active
MLS # 6701038
Property Type Single Family Residence
Price Type --
Welcome to Wales Ranch! San Tan Valley's newest master planned community with a wealth of amenities to enjoy. Conveniently located with easy access to great local attractions and amenities, including shopping and dining at Queen Creek Marketplace, outdoor recreation at San Tan Regional Park, fresh produce at Schnepf Farms and popular sites such as Queen Creek Olive Mill. A copy of the public report is available on the Arizona Department of Real Estate's website.

23806 N 162nd Avenue Surprise, AZ 85387

$497,460
4 Beds
3 Baths
2,363 SqFt
Status Active
MLS # 6674716
Property Type Single Family Residence
Price Type --
POPULAR ESCALANTE Community, INCENTIVES TOWARDS FINANCING, Pinecrest Plan, 4 bedroom, 3 Baths, 2 Car Garage, 9 Foot Ceilings With 8 Foot Interior Doors On Both Floors, Gourmet Kitchen, HIGHLY UPGRADED FLOORING, CABINETS COUNTERTOPS, 2 Inch Pearl White Blinds, OPEN Floor plan, 16 Foot Atrium Glass Doors, Ceiling Fans In All Rooms. Energy Star Qualified Home, Indoor Air Plus, 8 Foot Tall Garage Door, Located A Short Distance From The Community Pool Area, Picnic Area, Tot Lots, Basketball, Pickle Ball Courts And So Much More. Buyer May Still Select Appliances, Schools And New Shopping Center Nearby. Full Builder Warranty.

3116 W Augusta Avenue Phoenix, AZ 85051

$497,000
3 Beds
2 Baths
2,350 SqFt
Status Active
MLS # 6699752
Property Type Single Family Residence
Price Type --
NO HOA! Updated and move-in ready, 2350 SF 3-bdrm, 2-bath, plus a den. The large living space has a fireplace and opens to the den/office space. The floors are beautiful wood with tile in all the right places. The large master has a spa-like en suite w/modern tile walk in shower. Both bathrooms have new vanities and toilets. The kitchen is exactly what you want w/white shaker cabinets, quartz counters, breakfast bar and ss appliances. A pantry laundry room for storage. The front yard has desert landscaping w/ shade & fruit trees. Side yard has a productive garden. Beautiful backyard with a covered patio, large pergola, & sparkling pebble-tec pool. Alleyway is gated for extra privacy & security. Nestled just two blocks north of Mariposa Park in the North Glen Square Neighborhood. ----- - **Unwind in Style:** - Expansive Living Room: Relax by the inviting fireplace in the vast living room, perfect for entertaining. - Serene Study/Den: Enjoy a dedicated space for work or hobbies adjacent to the living room. - **Luxurious Master Suite:** - Double-Sized Retreat: The master bedroom provides ample space for relaxation and a spa-like bathroom featuring a large, remodeled shower for ultimate pampering. - Modern Touches: Both bathrooms boast new vanities and toilets for a refreshed feel. - **A Chef's Delight:** - Gourmet Kitchen: Unleash your inner chef in the stunning kitchen featuring crisp white shaker cabinets, sleek quartz countertops, and top-of-the-line stainless steel appliances. - Organization Made Easy: A generous pantry/laundry room provides ample storage solutions. - **Outdoor Paradise:** - Low-Maintenance Beauty: The front yard showcases desert landscaping with mature shade and fruit trees (orange and lemon), with irrigation lines, offering both beauty and ease of care. - Productive Oasis: The side yard boasts a well-established, fruitful garden perfect for homegrown delights. - Private Backyard Retreat: Unwind in the inviting backyard with a large pergola for shade, and a sparkling pebble-tec pool for refreshing dips. - Enhanced Security: Enjoy added peace of mind with a gated alleyway for privacy and security. - **Nestled in North Glen Square:** - This home resides just two blocks north of Mariposa Park, offering a serene atmosphere with convenient access to green space. - No HOA: Enjoy the freedom and flexibility of owning a home without the restrictions of a homeowners association. - **Additional Convenience:** - Two-Car Enclosed Garage: Park your vehicles securely and keep your belongings protected. - Seller has sewer under warranty Don't miss out on this exceptional opportunity! Come see this stunning home today and experience the perfect blend of comfort, style, and outdoor living.

40911 N Prestancia Drive Anthem, AZ 85086

$497,000
3 Beds
2 Baths
1,616 SqFt
Status Active
MLS # 6622808
Property Type Single Family Residence
Price Type --
Welcome to 40911 N Prestancia Dr, Anthem, AZ 85086, located in the prestigious Anthem Country Club. This home offers a range of desirable features and is situated in an exclusive location, makes this home all your own with some new flooring and paint!! All at an incredibly competitive price. Upon entering, you'll immediately notice the attention to detail and meticulous maintenance this home has received. The interior boasts numerous upgrades and a thoughtfully designed layout, making it both functional and visually appealing. With all-new exterior paint, this home exudes a fresh and inviting atmosphere. The kitchen is truly a highlight, featuring cherry cabinets and stunning granite countertops. It offers ample space for preparing meals and entertaining guests. MORE Whether you're an aspiring chef or enjoy cooking for loved ones, this kitchen will exceed your expectations. The great room concept creates a spacious and open living area, ensuring there is no wasted space. The large living areas provide flexibility for arranging furniture and accommodating various activities. The tile flooring throughout the home adds a touch of warmth with its neutral tones, complementing any décor. The master bedroom is generously sized and includes a large walk-in closet, offering plenty of storage for your personal belongings. This retreat provides a tranquil space to unwind and recharge after a long day. Exuding curb appeal, the front elevation of the home is impressive and beautifully landscaped. The surrounding area is exceptionally peaceful, providing a serene setting to enjoy your surroundings. Living in Anthem Country Club allows you access to a wide array of unique amenities. Whether you're a golf enthusiast, tennis player, or simply enjoy an active lifestyle, this community has something for everyone. Take advantage of the clubhouse, fitness center, pools, parks, and other recreational facilities, all within close proximity to your new home. In addition to its outstanding location and amenities, this property has been upgraded with a new reverse osmosis system, new water softener, new microwave, new refrigerator, and a brand-new AC installed in 2022. These upgrades further enhance the value and convenience of this already exceptional home. Don't miss the opportunity to own this well-maintained residence in Anthem Country Club. With its attractive design, desirable features, and access to exclusive amenities, this property represents an incredible value. Schedule a showing today and experience the charm and elegance of 40911 N Prestancia Dr.

5755 W Ivanhoe Street Chandler, AZ 85226

$497,000
3 Beds
2.5 Baths
1,873 SqFt
Status Active
MLS # 6667917
Property Type Single Family Residence
Price Type --
Nestled in the serene neighborhood of Mays Pond in Chandler, AZ this beautiful 2-story home offers a perfect blend of comfort and style. Boasting a freshly painted interior, 3 beds & 2.5 baths, granite kitchen countertops, this charming residence provides ample space for both relaxation and entertainment. The open floor plan on the main level seamlessly connects the living room, dining area, and kitchen, creating a welcoming atmosphere for gatherings with family and friends. Upstairs features updated flooring, the spacious bedrooms offer a peaceful retreat, with the master suite featuring a private en-suite bathroom for added convenience. Great location with easy access to shopping, dining, & entertainment options, as well as top-rated schools & beautiful community park, paths plus more!

2004 N Lake Breeze Road Lakeside, AZ 85929

$497,000
2 Beds
2 Baths
1,170 SqFt
Status Active
MLS # 6694622
Property Type Single Family Residence
Price Type --
Beautifully FURNISHED by LAKES! True pride of ownership shines in this gorgeous 2 bed, 2 bath home, located in the gated community Creekside. This open concept house features a stunning accent TV wall, a floor to ceiling stone fireplace, and vaulted ceilings. The kitchen has a large island, upgraded cabinetry with lighting underneath & on the floor, and a fabulous backsplash that goes up to the ceiling! The large master bedroom has a custom-made wall with an electric fireplace and inset TV, along w/ a walk-in closet and ensuite bathroom. All bathrooms are upgraded to coordinate with the kitchen. The back deck is a dream w/ a privacy screen on the side, perfect for enjoying the cool mountain air - just a few steps away, you can also enjoy your lovely private hot tub!! This home is exquisitely furnished - a designer's dream! Everything is done to perfection. It's ready for you to move in. The kitchen it truly amazing with a gas cook top. All appliances are Frigid Air Professional Series. The counter space is great with a large center island with bar stools. There is a pantry too. Lovely designer touches throughout from lighting, fixtures and other finishes. The guest bedroom has a custom-made queen over queen bunk bed that is suitable for adults. Walk in laundry with extra storage. Behind the water closet in the primary bedroom is a large linen closet. The master/primary shower has floor to ceiling tile with accent river rocks. There is also a double sink vanity. Rainbow lake is just around the corner to boating, kayaking, canoeing or fishing. Creekside - gated community is centrally located, close to everything. The home has a 2 car garage for toys and storage! Imagine living in the White Mountains of Arizona where you have 4 beautiful seasons and where you can breathe in the fresh mountain air and enjoy the 40 lakes and over 600 miles of rivers and streams. In addition to the amazing fishing, this area has one of the most extensive trail systems in the southwest for hiking, biking, horseback riding, quadding and more. Sunrise Ski Resort is also just 40 minutes away with 3 beautiful mountains to ski, snow board or sled. If shopping is your interest, you will love the antique stores and the multitude of arts and craft shows that happen in the summer. The music festivals have something to fit everyone's enjoyment. Do you love to golf? There are 7 amazing golf courses, 3 that are public. The White Mountains, where this home/cabin is the best kept secret of Arizona! Come and explore and enhance your living! Pinetop-Lakeside was also voted 'Best Cabin Region in the U.S... Embrace the MAGIC!

4808 N 24th Street Phoenix, AZ 85016

$497,000 - 2Br/2Ba -  for Sale in Optima Biltmore Towers Condominium 2nd Amd, Phoenix
Open House
$497,000
2 Beds
2 Baths
1,089 SqFt
Status Active
MLS # 6698638
Property Type Apartment
Price Type --
Welcome to your urban oasis at Optima Biltmore Towers. Experience resort-style living in this stunning high-rise located in the heart of the Camelback Corridor. This fabulous 2-bedroom, 1.75-bathroom condominium offers the perfect blend of luxury, convenience, and urban living. Upon entering, you'll be greeted by a modern split floor-plan featuring high ceilings, neutral tones, tile flooring throughout, and large windows that fill the space with natural light. The open kitchen boasts ample storage space and elegant granite countertops. The main suite provides a serene escape with direct balcony access, offering palm-lined views that perfectly highlight Arizona's famous sunsets. Complete with dual closets and a spacious remodeled bathroom, this suite is your personal retreat. The second bedroom features floor to ceiling windows, spacious closet, and an adjacent bathroom This unit also includes a stacked washer and dryer for added convenience. Residents enjoy access to top-notch community amenities, including a fitness center, clubhouse, concierge service, and gated parking. The rooftop deck features a resort-style swimming pool and spa, lounge areas, and outdoor cooking spaces, all with unobstructed 360-degree views of the Phoenix skyline. With its prime location, you'll have easy access to highways, Sky Harbor International Airport, and some of the best dining, shopping, and entertainment the Valley has to offer. Don't just imagine the lifestylecome experience it for yourself! This luxurious value won't disappoint. Come see it for yourself!

881 E Elgin Street Chandler, AZ 85225

$496,900 - 3Br/2Ba -  for Sale in Monterey Point 2, Chandler
Open House
$496,900
3 Beds
2 Baths
1,649 SqFt
Status Active
MLS # 6686609
Property Type Single Family Residence
Price Type --
Discover the allure of this delightful 3-bedroom home in Monterey Point II. Step inside to find an inviting interior graced with tile floors and vaulted ceilings, leading to a cozy living room perfect for gatherings. The great room is a haven for relaxation. The kitchen features white cabinetry, SS appliances, tile backsplash, granite counters, a pantry, and a center island with a breakfast bar. Serene main bedroom offers a private bathroom with dual sinks, a relaxing tub, and a walk-in closet. A practical laundry room includes built-in cabinets for additional storage. Outside, the backyard is a peaceful retreat with a covered patio and verdant grass, ideal for enjoying tranquil afternoons. This charming residence is awaiting its new owners - don't miss the opportunity to call it yours!

5415 W Novak Way Laveen, AZ 85339

$496,700
3 Beds
2 Baths
2,208 SqFt
Status Active
MLS # 6658821
Property Type Single Family Residence
Price Type --
Move in ready single story home with a play pool and a 3 car garage, these are all the items most people want in a home and this one has it all. This home has an open floor plan with an upgraded kitchen that has quartz counters and stainless steel appliances. The home has tile plank flooring through most all the home. There is a pebbletech play pool in the backyard that is like your own resort. Great family neighborhood with easy access to the freeway and shopping. This home is a must see.

34782 N Ashwood Drive San Tan Valley, AZ 85144

$496,390
3 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6688556
Property Type Single Family Residence
Price Type --
This is one of our most popular floorplans featuring 3 bedrooms, 2 bathrooms, and a flex room. Spacious interior design allows for ample entertaining space. This home is on a gorgeous corner homesite with no neighbor behind. Upgrades include a gourmet kitchen with stainless steel appliances and gas cooktop, white quartz countertops with brushed nickel hardware, white shaker cabinets and natural wood-look tile in all the right places.

20875 W Maiden Lane Buckeye, AZ 85396

$496,000
4 Beds
3 Baths
2,511 SqFt
Status Active
MLS # 6687488
Property Type Single Family Residence
Price Type --
Welcome to your dream Verrado home, perfectly situated amidst picturesque tree-lined streets, parks, pools, and a bustling community center. Be sure to ask about the ASSUMABLE 2.38% loan. This charming abode awaits you on a coveted green belt with an amazing view facing a park! Step inside to discover a culinary haven in the stunning kitchen, complete with granite countertops, an inviting tile backsplash. stainless steel appliances, a gas range, and well appointed cabinets with plenty of storage! The seamless open-concept layout flows effortlessly from the kitchen to the dining and living areas downstairs with 3 a panel slider to the patio! Convenience meets comfort with a downstairs bedroom and a full bathroom, providing versatile living options. Upstairs, a thoughtfully designed split floorplan awaits with an amazing master bedroom sanctuary. Indulge in the opulent ensuite bathroom showcasing a large walk-in shower with a built-in bench seat and rainfall shower for a spa-like retreat. Dual vanity sinks and a generously sized walk-in closet add to the allure of this tranquil haven. Adjacent to the primary suite, discover a spacious loft area, two additional bedrooms, and another full bathroom, offering ample space for family and extra living space. Others items that this home possesses include a natural gas stub outside for grilling or firepit, water softener and RO system, deep sink in garage and stainless deep sink in laundry. Also, items that can convey with the home include a natural gas grill, 2 refrigerators, 1 freezer, household commercial washing machine and gas dryer, and 2 x 55 inch and 1 x 60 inch Smart TVs with full motion wall mounts. Step outside to discover a charming porch overlooking a vast, grassy area, offering a perfect spot for relaxation or social gatherings. There is also extra parking in the back for residents and guests! This exquisite home in Verrado is just steps away from the new Heritage Community Center and School, where you can enjoy community perks like a pool, splash pad, and BBQ area. Embrace the vibrant lifestyle of Verrado with its close proximity to Heritage Elementary, Heritage Swim Park, nearby dog park, walking trails, many other parks and the majestic White Tank Mountains. Take advantage of the community's main street, featuring a variety of restaurants, a coffee shop, grocery stores, and a award winning community center. Enjoy recreational amenities including a golf course, top-rated schools, and the convenience of a new Costco nearby. With easy access to I-10, gas stations, and lodging, this highly desirable area in the West Valley promises an unparalleled lifestyle.

40211 W Michaels Drive Maricopa, AZ 85138

$495,995
4 Beds
2.5 Baths
2,400 SqFt
Status Active
MLS # 6682178
Property Type Single Family Residence
Price Type --
The heart of this ranch floor plan is an open layout with a great room, a breakfast nook and a gourmet kitchen with a walk-in pantry and a center island. The owner's suite is adjacent, and showcases a generous walk-in closet and an attached bath with double sinks and a deluxe shower. Three bedrooms, a full bathroom, and powder room round out the interior of the residence. Need more garage space? This home has a 3-car tandem garage and a separate 1-car side turn garage. A covered patio is also included!

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