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Author: Bob Longworth
Jan 24, 2019 at 1:38pm

What is the Cost of Waiting Until Next Year to Buy?

I have been selling real estate in Arizona since 2003, and have seen markets go up, and markets go down. I frequently get asked if it is a good time to buy real estate. There are a lot of reasons if you are in the position to buy that you should purchase a home in any market if it is a long term goal to stay in a home for more than 5-7 years. But to get more specific about the current market in Greater Phoenix, here are some quick facts to consider right now:

The cost of waiting to buy can be defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Simply put, when rates are going up it is going to cost more. Please look at the graphic above for a clear explanation….

Freddie Mac predicts interest rates to rise to 5.1% by the end of 2019. I think we can see that interest rates have been trending up by trends from the past few years. In June of 2016 you could have got a 30 year fixed rate loan for around 3.5%, while interest rates in the end of 2018 were close to 5%! As of this writing, rates have declined slightly another reason to not put it off!

The real estate information gathering company CoreLogic predicts home prices to appreciate by 4.8% over the next 12 months. Again simply put housing values are appreciating in out market!

So if you have been renting or lucky enough to sill live at home, it is a good time to look at home ownership. If you are willing and able to, the next step is to call me to find out what you can afford!

Contact Bob

 

Look below for some great Scottsdale available properties:

Scottsdale Properties!

1,955 matches found

$29,000
8780 E MCKELLIPS Road, 250, Scottsdale, AZ 85257
View Photos (11)
# of Bedrooms: 2
# of Bathrooms: 1.75
Square Footage: 1500
Year Built: 1974
Subdivision: Shadow Mountain Mobile Home Park
Description: This home is located in a Shadow Mountain Adult Community across from the ...
Last Updated: October - 16 - 2019
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$30,000
8780 E MCKELLIPS Road, 370, Scottsdale, AZ 85257
View Photos (24)Virtual Tours (1)
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1440
Year Built: 1979
Subdivision: Shadow Mountain Village MHP
Description: Welcome to Shadow Mountain Village Mobile Home Park! This unit is clean in...
Last Updated: October - 13 - 2019
IDX
$34,000
8780 E MCKELLIPS Road, 27, Scottsdale, AZ 85257
View Photos (47)
# of Bedrooms: 2
# of Bathrooms: 1.75
Square Footage: 1530
Year Built: 1974
Subdivision: Shadow Mountain Village
Description: Best Location in Scottsdale! 55+ active adult community. Property is a l...
Last Updated: October - 11 - 2019
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$35,000
8720 E MCKELLIPS Road, 550, Scottsdale, AZ 85257
View Photos (11)
# of Bedrooms: 2
# of Bathrooms: 2
Square Footage: 1000
Year Built: 1979
Subdivision: Shadow Mountain Village Mobile Home Park
Description: This is a 2 bedroom/2 bathroom Catalina Mobile Home that has been well tak...
Last Updated: October - 08 - 2019
IDX
$58,000
815 N HAYDEN Road, D205, Scottsdale, AZ 85257
View Photos (21)
# of Bathrooms: 1
Square Footage: 530
Year Built: 1962
Subdivision: CONSOLIDATED COOPERATIVES OF SCOTTSDALE EAST
Description: UNIQUE STUDIO APARTMENT CONVERTED TO 1 BDRM, SPACIOUS WALK IN CLOSET, LARGE...
Last Updated: October - 08 - 2019
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$65,000
8210 E GARFIELD Street, K203, Scottsdale, AZ 85257
View Photos (19)
# of Bathrooms: 1
Square Footage: 596
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: BEAUTIFUL REMODELED CONVERTED STUDIO TO 1 BDRM HIGH END LAMINATE WOOD FLOOR...
Last Updated: July - 20 - 2019
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$66,200
8210 E GARFIELD Street, K116, Scottsdale, AZ 85257
View Photos (22)
# of Bathrooms: 1
Square Footage: 528
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: DESIRABLE GROUND FLOOR UNIT WITH DUAL PANE SLIDING DOOR & WINDOW IN OPEN &...
Last Updated: September - 26 - 2019
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$73,500
8220 E GARFIELD Street, M122, Scottsdale, AZ 85257
View Photos (21)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 720
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: DESIRABLE GROUND FLOOR 1 BDRM LAMINATE WOOD FLOORS IN LIVING ROOM & HALL, ...
Last Updated: September - 30 - 2019
IDX
$74,000
8220 E GARFIELD Street, M223, Scottsdale, AZ 85257
View Photos (20)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 800
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: SPARKLING CLEAN 1 BDRM WITH PROFESSIONALLY ENCLOSED BALCONY-MAKES PERFECT D...
Last Updated: August - 21 - 2019
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$75,000
8220 E GARFIELD Street, k111, Scottsdale, AZ 85257
View Photos (15)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 720
Year Built: 1965
Subdivision: SCOTTSDALE EAST 2
Description: Location Location Location! Affordable living in Scottsdale BEAUTIFUL VIEWS...
Last Updated: September - 21 - 2019
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