For many homebuyers who are new to the market, it can be very comforting to be on a fixed rate mortgage where fluctuating interest rates cannot have an impact on your monthly payments. While a variable rate mortgage can sometimes lead to significant savings at the end of the day, there are a few ways you can tell if your monthly payment is on the upswing.
An Increase In Your Home’s Value
A marked increase in a home’s value is ideal for most homeowners who consider their home an important investment. However, the downside of an increase in the price of real estate is that your property taxes will probably be bumped up along with it. According to Josh Moffitt at Silverton Mortgage, “If your home value increases because of market conditions, taxes will follow, and it will cost more to insure the home.” In order to determine if a higher payment is on the horizon, you may want to take a look at the listings in your neighborhood.
A Miscalculation
Most people hope that a re-assessment of the value of their home will lead to a bump in its price, but if your monthly mortgage payments were calculated at a specific time during the transaction, this bump may mean a higher monthly payment for you. If there was some overlap between the assessment and the property transfer, or other fees were included in your payment, your tax professional should be able to advise you on the best course of action you can take come tax time.
Insurance Renewal Is Up
In the event that the homeowner’s insurance on your home is about to expire, there’s a possibility that you’ll be paying a bit more following renewal. Instead of leaving this to chance, ensure that your insurance company is communicating with you and keeping you abreast of changes. After all, while insurance is important to protect your investment, you have the option of looking into other insurance providers who may be able to give you a better rate.
It can be hard to plan for the increase in rates that can go along with a variable rate mortgage, but if your insurance is up for renewal and the value of the homes in your area has increased, a higher monthly payment will likely follow. Give me a call for more information. – J.P. Cook – 602-320-4253.
9705 E Mountain View Road Scottsdale, AZ 85258
$499,900
2
Beds
2.5
Baths
1,365
SqFt
Status
Active
MLS #
6661907
Property Type
Townhouse
Price Type
--
Resort style living at it's best! Just remodeled townhome features NEW quarts kitchen and bath counters, NEW tiled showers, NEW plank flooring throughout, Fresh paint, refreshed woodburning fireplace, rebuilt upper patio off the large master and above your large covered patio yard and a epoxy coated garage! This is a gated community that maintains your front yard for you and unit is close to 1 of 5 pools, 6 spas, 9 tennis courts, 2 pickleball courts, Fitness Center with Sauna, Tennis Pro, Activities Director and a Grand Clubhouse. Close to the 101, Scottsdale Ranch's Lake Serena, Scottsdale Ranch parks, restaurants, shopping, golf, spring training facilities, resorts, casinos, Old Town Scottsdale and much more! .
1610 W Lynwood Street Phoenix, AZ 85007
$499,900
3
Beds
1
Bath
1,140
SqFt
Status
Active
MLS #
6683262
Property Type
Single Family Residence
Price Type
--
Step into a piece of Arizona history with this charming 1920's bungalow, nestled in the coveted and iconic F.Q. Historic District. Retaining its distinctive classic integrity while boasting modern finishes, this home offers a unique blend of old-world charm and contemporary convenience. The spacious kitchen is a standout feature, adorned with exposed brick, white beadboard, and butcher block countertops. Built-in stainless steel appliances, an island cook top, and cobalt blue Mexican tile surround the cozy breakfast nook, creating a perfect blend of functionality and style. Newer windows allow natural light to flood the interior, illuminating the subtle Smokey Ash porcelain wood plank flooring and crown molding that graces every room. designated dining area lead to a versatile flex office space and the third bedroom, providing flexibility for modern living. Outside, a spacious covered patio overlooks the backyard, offering a tranquil retreat for relaxation or a stylish setting for entertaining guests. Whether seeking solitude or a quintessential Arizona outdoor experience, this home provides the perfect backdrop for enjoying the desert lifestyle in style. Don't miss the opportunity to own a piece of Arizona's architectural heritage in this enchanting F.Q. Historic District residence. NO HOA!
2409 W Mandalay Lane Phoenix, AZ 85023
$499,900
4
Beds
3
Baths
2,162
SqFt
Status
Active
MLS #
6668488
Property Type
Single Family Residence
Price Type
--
NO HOA! 4 Bedroom 3 Bathroom Tri-Level Home Located in North Central Phoenix. This beautiful home with a recently upgraded kitchen, pool and front yard has 3 bedrooms upstairs and one private bedroom on the bottom floor. Just an easy 20 Min Drive From Downtown, Sky Harbor Airport and North Scottsdale. You are mere Minutes From I17 and Loop 101 Freeway's. The Convenience of this location is Just Fabulous! The Sparkling Blue Pool awaits in your private low maintenance backyard. The Property does have solar, the seller will pay off the solar note at closing so it will be owned. Pool was redone in 2017 and HVAC in 2020. On top of all this, it has North / South Exposure.
3749 E Emile Zola Avenue Phoenix, AZ 85032
$499,900
4
Beds
3
Baths
1,714
SqFt
Status
Active
MLS #
6671627
Property Type
Single Family Residence
Price Type
--
PRICED BELOW APPRAISAL! The perfect single level home with 4 bedrooms and 3 full bathrooms is now available in Paradise Valley Oasis! This beautiful home features an open floor-plan, spacious kitchen with dark wood shaker style cabinets, granite counter-tops and stainless steel appliances, staggered laid tile flooring throughout, updated lighting, new exterior paint, new roof, whole house water treatment system, master bedroom split for additional privacy, large master bathroom with dual sinks, granite counter-tops and travertine tile wrapped shower, hall bathroom has granite counter-tops with tile wrapped shower, additional bedroom has ensuite bathroom with spacious walk-in shower and much much more. This one will sell fast!
21838 N Scott Court Maricopa, AZ 85138
$499,900
4
Beds
2
Baths
2,312
SqFt
Status
Active
MLS #
6673046
Property Type
Single Family Residence
Price Type
--
Golf course lot! iIncredible 3-bed + Den home sitting on a golf course lot of a quiet cul-de-sac in the desired Rancho El Dorado Community! RV gate, 2-car garage, and manicured landscaping welcome you. Enter to see a formal living & dining room, designer paint, a double-door entrance den, and high vaulted ceilings. You will love the family room boasting wood floors, built-in niches, a gas fireplace, and backyard access! The eat-in kitchen features an island w/breakfast bar, a walk-in pantry, oak cabinets, a chic backsplash, granite counters, and SS appliances. The oversize main bedroom has access to the backyard and an ensuite w/dual sinks & walk-in closet. Oasis-style backyard highlights a blue pool w/water feature, a covered patio, a storage shed, and multiple seating areas. Close to schools and shopping.
2611 Leisure World -- Mesa, AZ 85206
$499,900
3
Beds
2
Baths
3,278
SqFt
Status
Active
MLS #
6683707
Property Type
Single Family Residence
Price Type
--
This is the best value at $153 per square feet in Leisure World The Laguna floor plan has the large, vaulted ceiling living area with plenty of room to entertain. The primary bedroom and bathroom are also oversized with 16' of closet space. On the other side of the house is 2 large bedrooms and an enormous family room that could be a game room, theater room, or a combination of both. Behind the kitchen is a office or den area with built in shelving units and another large room to use. The back yard has a built in spa and plenty of room to spread out. All this in the Premiere Active Adult Community of Leisure World with 36 holes of private golf, new tennis complex, pickle ball, swimming pools, library, state of the art fitness center, theater, arts and crafts, billiard room, and more!
34967 N 30th Avenue Phoenix, AZ 85086
$499,900
3
Beds
2.5
Baths
1,614
SqFt
Status
Active
MLS #
6691449
Property Type
Townhouse
Price Type
--
** Amazing Opportunity ** Beautifully furnished with new one year lease. This exquisite three-story townhome comes with a stellar track record of success as a rental. Step into luxury as you enter this meticulously designed interior featuring stunning granite countertops, stainless steel appliances, and custom lighting fixtures that illuminate the contemporary furnishings throughout. With three spacious bedrooms and 2.5 baths, there's ample room for guests to relax and unwind in style. This property delivers with a walking path just 100' from your front door. Enjoy the warmth of hardwood floors on the second level, adding a touch of elegance. Your investment includes all furnishings shown in the photos.
15130 W Andora Street Surprise, AZ 85379
$499,900
4
Beds
3
Baths
2,607
SqFt
Status
Active
MLS #
6694832
Property Type
Townhouse
Price Type
--
This beautiful 4 bed, 3 bath townhome in Marley Park has all the right upgrades in all the right places! Discover spacious dining & living areas w/high ceilings, and trending palette throughout. The fabulous kitchen is comprised of painted cabinetry w/quartz counters, a pantry, herringbone tile backsplash, SS appliances, and a lovely large island. Downstairs has a spacious bedroom with a beautiful custom ''California Closets'' walk -in closet and a full bathroom. End your busy day in the primary bedroom, boasting elegant hardwood flooring, a walk-in closet, and a lavish ensuite w/dual sinks & a freestanding tub and shower. You'll also find a cozy loft area, great for sitting or an office. This home also has a stunning travertine side patio w/an attached pergola! This home simply has it al
303 W 9th Street Mesa, AZ 85201
$499,900
3
Beds
2
Baths
1,824
SqFt
Status
Active
MLS #
6694337
Property Type
Single Family Residence
Price Type
--
Home is eligible for a property specific $7500 grant when financing through PNC Bank with FHA or Conventional loan as a primary residence. Just on the edge of the gorgeous Evergreen Historic District on a lovely tree lined street you will find this remodeled mid-century home offering a central Mesa location, nearby amenities and the perfect blend of original charm and modern touches you've come to expect. Art & design lovers, the long time owners have maintained and remodeled this home offering a unique space to create the life you've dreamed of. An updated kitchen with newer appliances and a formal dining room and living room comprise the heart of the home. Two secondary bedrooms and a primary ensuite bedroom, boasting two closets, complete the front portion of the home. A permitted addition at the back of the home includes a nice size laundry room, a generous storage area, and a large great room overlooking thebeautiful backyard providing a wonderful space to entertain and relax. Set up a pool table and you'll have a fantastic game room! New paint, beautiful wood and tile floors abound with NO CARPET! A 3 year old roof, 8 year old a/c unit, 5 year old water heater, brand new sewer line to the street, and ridiculously low utility bills make this home a find, both stylistically and economically. The gorgeous backyard includes an expansive covered patio, fruit trees, rose bushes and lush irrigated landscaping with a large RV gate opening to the roadway behind. And did we mention the location? Watch the on-going evolution of downtown Mesa and take advantage of all it has to offer such as Spring Training at Hohokum Stadium, Riverview Park/Retail. the Mesa Arts Center, ASU Mix Center, and a plethora of dining options. And being close to light rail means you're a short train ride from so many amenities offered by nearby Tempe and Phoenix, such as ASU, Tempe Marketplace, Sky Harbor Airport, and great freeway access. Come see it today and you'll find yourself daydreaming non-stop about all of the ways in which you will flourish in this beautiful home.
5830 N 12th Place Phoenix, AZ 85014
$499,900
3
Beds
2
Baths
1,736
SqFt
Status
Active
MLS #
6698366
Property Type
Townhouse
Price Type
--
Beautifully updated townhome located in the desirable L'Ermitage II complex in heart of North Central Phoenix. Situated perfectly on a north/south facing lot, this 3 bedroom, 2 bath home offers a private gated entry, a well-designed interior layout and an abundance of natural light. Living room features soaring ceilings, a stunning Carrera marble fireplace, recessed lighting and new oversized sliding glass doors leading to the patio to incorporate the perfect blend of indoor/outdoor living. Gourmet kitchen includes rich granite countertops, custom cabinets, Carrera marble backsplash, new stainless steel appliances, and a separate dining area. Main level primary suite includes additional patio access with enclosed blinds, large walk-in closet, a beautiful granite vanity and an oversized custom slate shower with glass enclosure. Spacious Upstairs primary suite includes a private balcony overlooking the mature trees and mountain views. Spa-inspired ensuite features gorgeous Carrera marble tiled walls, an oversized free standing tub with rainfall and hand held shower heads, custom cabinets, dual sink vanity with granite countertops, full height marble backsplash, and a spacious walk-in closet. With wainscoted walls and vaulted ceilings, the third bedroom is perfect for guests or a dedicated office space. Low maintenance private backyard features a large patio with custom flagstone, lush artificial turf, and multiple seating areas for entertaining. With only 9 Units, L'Ermitage is a charming complex conveniently located near several restaurants, shops, parks and the 51 freeway.
3470 S Bluejay Drive Gilbert, AZ 85297
Open House
$499,900
3
Beds
3
Baths
2,182
SqFt
Status
Active
MLS #
6687261
Property Type
Single Family Residence
Price Type
--
Welcome to this magical abode, where you'll find more charm than a Disney movie. This 3 bedroom, 3 bathroom home in Power Ranch is like a unicorn - rare and highly sought after. The kitchen is decked out with shiny stainless steel appliances fit for a top chef. Plus, the serene courtyard is so peaceful, you'll feel like you're sipping espresso in Italy or sipping margaritas in Mexico. And who needs a private pool when you can splash around in the community pool like a mermaid? Let the kids go wild at the nearby playground while you soak up the sun. This place has all the bells and whistles for a super comfy and convenient lifestyle. Don't miss out on this gem - it's a real powerhouse in Power Ranch!
3131 N Central Avenue Phoenix, AZ 85012
Open House
$499,900
2
Beds
2
Baths
1,125
SqFt
Status
Active
MLS #
6624731
Property Type
Apartment
Price Type
--
*Construction Completed* 3.5% buyer incentive can be used towards rate buy down, upgrades, closing costs, or combo of those! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.