Category: Real Estate Trends Blog
  • Archives:  
Author Photo
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!

1,981 matches found

$59,800
8211 E GARFIELD Street, J121, Scottsdale, AZ 85257
View Photos (25)
# of Bathrooms: 1
Square Footage: 528
Year Built: 1964
Subdivision: SCOTTSDALE EAST HOMES
Description: DESIRABLE GROUND FLOOR STUDIO CO-OP W/ LG, PRIVATE COURTYARD. NEWER EXTEND...
Last Updated: May - 20 - 2020
IDX
$60,000
8210 E GARFIELD Street, K116, Scottsdale, AZ 85257
View Photos (20)
# of Bathrooms: 1
Square Footage: 528
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: DESIRABLE GROUND FLOOR STUDIO COOP WITH DUAL PANE SLIDING DOOR & WINDOW IN...
Last Updated: May - 24 - 2020
IDX
$60,000
8210 E GARFIELD Street, K210, Scottsdale, AZ 85257
View Photos (19)
# of Bathrooms: 1
Square Footage: 628
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: BEAUTIFUL REMODELED STUDIO COOP W/ENCLOSED BALCONY/BDRM. TILE THROUGHOUT, H...
Last Updated: May - 15 - 2020
IDX
$64,990
8210 E GARFIELD Street, K114, Scottsdale, AZ 85257
View Photos (12)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 720
Year Built: 1965
Subdivision: SCOTTSDALE EAST 2
Description: Location Location Location! Affordable COOP Living in Scottsdale! Beautiful...
Last Updated: February - 19 - 2020
IDX
$65,000
814 N 82ND Street, G205, Scottsdale, AZ 85257
View Photos (19)
# of Bathrooms: 1
Square Footage: 530
Year Built: 1963
Subdivision: CONSOLIDATED COOPERATIVES OF SCOTTSDALE EAST
Description: LOCATION! LOCATION! LOCATION! CLOSE TO ARIZONA STATE UNIVERSITY (ASU), PHO...
Last Updated: May - 21 - 2020
IDX
$69,000
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: COOP:SPARKLING CLEAN 1 BDRM WITH PROFESSIONALLY ENCLOSED BALCONY-MAKES PERF...
Last Updated: May - 15 - 2020
IDX
$69,000
8220 E GARFIELD Street, M108, Scottsdale, AZ 85257
View Photos (20)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 720
Year Built: 1965
Subdivision: SCOTTSDALE EAST HOMES
Description: GREAT GROUND FLOOR 1 BDRM COOP. NEW WATER PROOF LAMINATE FLOORING IN UPDATE...
Last Updated: April - 07 - 2020
IDX
$69,000
8221 E GARFIELD Street, L116, Scottsdale, AZ 85257
View Photos (28)
# of Bathrooms: 1
Square Footage: 528
Year Built: 1966
Subdivision: SCOTTSDALE EAST HOMES
Description: GORGEOUS STUDIO COMPLETELY FURNISHED,. DOUBLE MURPHY BED, CUSTOM BUILT MAPL...
Last Updated: March - 11 - 2020
IDX
$74,500
8221 E GARFIELD Street, L215, Scottsdale, AZ 85257
View Photos (20)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 792
Year Built: 1966
Subdivision: SCOTTSDALE EAST HOMES
Description: UPDATED FURNISHED 1 BDRM COOP WITH ADDED DEN (ENCLOSED BALCONY) FULLY EQUIP...
Last Updated: May - 03 - 2020
IDX
$74,900
920 N 82ND Street, H103, Scottsdale, AZ 85257
View Photos (26)
# of Bedrooms: 1
# of Bathrooms: 1
Square Footage: 634
Year Built: 1962
Subdivision: CONSOLIDATED COOPERATIVES OF SCOTTSDALE EAST
Description: BEAUTIFUL REMODELED 1 BDRM COOP GROUND FLOOR. NEW VINYL WOOD PLANK FLOORING...
Last Updated: May - 23 - 2020
IDX

1 2 3 4 5 6 ... 199
Copyright Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.