What you need to know about appreciation, depreciation, and deceleration.
There are a lot of confusing terms floating around the housing market right now, like appreciation, depreciation, and deceleration. What do these terms mean, and which ones are relevant to our current market? To clear up the confusion, I’ll explain each of these terms and how they relate to what’s happening right now in our housing market.
You can listen to my full explanation in the video above or skip to each topic using the timestamps provided:
The difference in your net worth if you buy a home instead of renting.
What is the difference between the net worth of a homeowner and that of a renter? This is going to be shocking, guys. The average net worth of a homeowner in America at the end of 2021 was about $300,000, and the average net worth of a renter was $8,000. The number for a homeowner is 40 times bigger.
That is why the No. 1 most important thing you can do to increase your net worth is to buy at home. I didn’t say 10 or 20 homes. Just get started, and buy just one home. Over time you will have this beautiful thing called principal buydown, and you’ll benefit from the appreciation of your asset if you give it long enough. Prices fluctuate, of course, so get in for the long-term play. You have to live somewhere anyway.
“You’re paying a 100% interest rate if you rent instead of buy.”
The argument comes when people don’t want to pay a 6% or 8% interest rate when it was 4.5% months ago. However, no one ever got rich because they got a one percentage point savings on their mortgage. Plus, you can refinance sometime in the future when the terms are maybe more favorable. The reality is if you’re paying 6% on your mortgage or a house you own, what is the interest rate you’re paying if you rent your house? The answer is 100% because you are not building anything for yourself over time.
That’s why you should get out of the rental market. We highly suggest you consider purchasing a property for yourself to live in. Then consider other properties to build a rental portfolio—I am big on that because I think it’s a phenomenal way to invest money.
If you have more questions about building a real estate rental or investment portfolio, I would love to chat with you about that because I have one myself and I’m very passionate about it. Give me a call anytime. I’d love to talk.
Today we’ll be reviewing one of the most coveted communities in the heart of Scottsdale, AZ! Whether it’s a second home, an investment property, or your primary home, follow along with us as we take a look inside the guard gated community of Gainey Ranch! Here’s what it’s like to Live in Gainey Ranch! LET’S GO!!
Gainey Ranch is a Golf and Lifestyle Community within guard gates in Scottsdale, Arizona. Gainey Ranch has 13 single family home communities inside the subdivision and 7 different condo communities. Sunset Cove is located in the Northeast section of the Gainey Ranch gated community and is one of the seven condo communities. Each condo community has a different feel and design, but we’re going to take you INSIDE one of the condos within Sunset Cove.
How about a game of guess the price?! This listing was located in Sunset Cove of Gainey Ranch. The specs of the home are: 1,104 sq. ft. with 2 beds, 2 baths and built in 1987. As a bonus, you’re also given a one car garage which is hard to find in a condo community in Scottsdale/Phoenix, Arizona. Most condo communities here in The Valley only feature a reserved covered carport spot. How much do you think this house runs? Take a guess and let us know through email or in a comment on our YouTube!
Time’s up…. Check for the answer BELOW:
If you guessed C.) 639,000, DING, DING, DING, WE HAVE A WINNER!!!!
Gainey Ranch is all about the active, adult lifestyle. What more could you ask for in one of the most outdoor active suburbs in the country?! Next up, we visit the Estate Club, which is the Tennis, Pickleball, Yoga, Pilates, a fitness center and more! Despite Gainey Ranch being primarily known as a Golf Course community, the Pickleball and Tennis area at the Estate Club is a hotspot within the community. It’s a great way to stay active, meet new people, and join new clubs! The best part? You can drive your golf cart through the community to the Estate Club!
As stated before, Gainey Ranch is located in the heart of Scottsdale. It’s 10-minutes from Old Town, 5-minutes from Sky Harbor, and about 20-minutes to Downtown Phoenix. However, being within the Guard Gated Community you don’t feel like you’re in the middle of the hustle and bustle that is Scottsdale, Arizona. While in the gates of Gainey Ranch, you’ll enjoy Golf Course views, beautiful communities, phenomenal landscaping, and it’s all enclosed! There’s an exterior road that gets you around the entire community, but still within the gates of Gainey Ranch.
Real Estate prices within the gates of Gainey Ranch vary widely. This is due to some home lots enjoying the premier golf course views while other homes enjoy beautiful courtyard, greenbelt, and community views. It’s also dependent upon the size of the home. You can buy a condo within Gainey Ranch for approximately $500,000 for about 785 sq. ft. If you want more space, you can expect to pay more as some condos with 2,300-2,400 sq. ft. run at $1,700,000. There are also HOA dues based on the size of your unit and the community that you live within. Single Family Homes start at about $875,000 for 2 beds, 2 bath for about 2,200 sq. ft. That’ll climb to $3,000,000 for about 3,800 sq. ft and you’ll have Golf Course views!
Okay, okay okay, we’ve mentioned guard gates and golf course views enough, let’s actually talk about the Golf Course! If you watch the YouTube video, you’ll notice the Golf Course isn’t a stunning green color that we’re used to, so here’s a little agronomy lesson for you. In Arizona, we have Winter Grass (Rye) and Summer Grass (Bermuda), so each year in mid-late September through the beginning-mid October anybody who has grass will go out and scalp the grass (cut it extremely low), cut the water, let the grass completely die before planting the new Rye Grass seeds. Several weeks later, they’ll water the seeds more than you can imagine revealing the beautiful green grass for the Winter Season ahead!
Next up, we’ll visit the Shoppes at Gainey Ranch. Located directly across the street from the Gainey Ranch community and anchored by Sprouts, the Shoppes also feature: Oliver Smith Jewelers, Coffee Bean/Tea Leaf, Village Tavern and more! P.S. Kelly says the dry-ribs at the Village Tavern in Gainey Ranch, so check it out!
Finally, we are at everybody’s favorite part of the YouTube video and blog…. The KCI! For those of you who are new here, we LOVE shopping local and what better way to show you where you could live than by reviewing YOUR local coffee shop, so we provide you with the KCI (Kelly Coffee Index)! Today we’ll stop by Street Brew Coffee, located, just around the corner from Gainey Ranch. This expert rating will help YOU decide if you want to spend your time and MONEY at this local coffee shop…. LET’S GO!! Kelly is a sucker for seasonal drinks (specifically pumpkin) with oat milk, whereas Abby sticks with the classic Vanilla Latte and whole milk. Kelly’s rating on the Hot, Pumpkin Pie, Cinnamon, White Chocolate Latte comes in at *drumroll please* a strong 8! Tad bit sweet for his liking, but overall a good tasting latte that you should add to your next coffee order at Street Brew Coffee!
So what’d you think? Are you planning to live in Gainey Ranch? Thank you for reading about our adventure around Gainey Ranch! I know people have various opinions about living in a guard gated community, but this community could be the next place you call home! If you all are looking to move here or even buy a second home, please reach out to us at info@CookandAssociatesAZ.com for more information!
How interest rate buydowns can help you buy a home in this market.
Interest rates are rising, and affordability is dropping. What can you do in today’s market to get the lowest rate possible? I have one secret weapon to help you do this: interest rate buydowns. You might’ve heard about these, but they haven’t been used for a long time. What are they exactly, and how can they help you in this market?
You can watch the full video above or skip to each section using the timestamps provided:
0:00 — Introducing today’s topic
1:29 — What monthly payment can you afford?
2:01 — How you can use seller concessions as a tool
2:51 — How this could affect your purchase
4:31 — You could get a payment that is similar to renting
5:42 — This can help you hedge against inflation.
6:13 — Wrapping up
If you have any questions, feel free to call us at (480) 227-2028 or send us an email. We‘d love to help.
Come join us for a free movie screening, food, drinks, and more!
Click the here and sign up for the FREE movie! We have a very special event coming up that we’re extremely proud to host for both past and prospective clients! It’s an opportunity for us to show you our gratitude for giving us the privilege of working for you and trusting us with your real estate goals.
We invite you to join us on our client appreciation day on August 13, 2022 at 1:15 pm with check-in starting at 12:30 pm. We will have a private screening of “Top Gun Maverick” at Harkins Theater, Harkins Shea 14 of 7354 Shea Boulevard, Castle, Arizona. It’s a phenomenal movie, and I’m excited to watch it with all of you! Please go there early and check in around 12:30 so we can give you free concessions, such as gift cards, drinks, and snacks to enjoy with your movie. We also have a raffle where you can win a large TV, gift basket, and more.
Thanks for being such amazing supporters and clients of our real estate team. We’re so excited to see you on August 13! As always, call or email us with any questions. We’re always happy to help.
Which option is better for you? A HELOC or cash-out refinance?
Which is better for you: a home equity line of credit or a cash-out refinance? Today we want to explain the difference between these two options, when you might use them, and which one is best for your situation.
You can watch our full explanation in the video above or skip to each topic using the timestamps provided:
0:00 — Introduction
0:58 — Explaining ROE (return on equity)
2:19 — Should you take out a HELOC or do a cash-out refinance?
3:20 — Explaining HELOCs
4:35 — HELOCs have an adjustable interest rate
6:26 — Explaining cash-out refinances
7:51 — The biggest pro of cash-out refinancing is that it isn’t taxable
8:34 — The interest you pay on a HELOC is tax-deductible if you improve your home
9:46 — Each option has its pros and cons
10:00 — Wrapping up today’s topic
If you have questions or would like to know which option is better for you, please call or email us. We are always willing to help!
It’s easy for buyers to become fatigued in a market like this.
Right now, buyers are facing an uphill battle to win the homes they want. This market is very competitive, and there isn’t much inventory. We don’t want our buyers to end up getting fatigued, so I’m sharing the five things we do to help our buyers in the current market.
Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message, or use these timestamps to browse specific topics at your leisure:
0:00 — Introducing today’s topic
2:30 — No. 1: The Coming Soon Program
4:35 — No. 2: Relationships
8:10 — No. 3: Communication
9:30 — No. 4: We offer bonuses
10:00 — No. 5: Escalation clause
11:40 — Wrapping up
If you have any questions, don’t hesitate to reach out to us at (480) 442-9868 or email@example.com. We look forward to hearing from you.
With everything happening in our economy, is a recession coming?
Right now, there seems to be one question on everyone’s mind: “Are we heading for a recession?” People are concerned about inflation, rising interest rates, and global conflict, and it’s hard to blame them. Today I want to discuss the state of our market and predict whether or not we’re heading for a recession.
You can watch my full prediction in the video above, or skip to each topic using the timestamps provided:
0:00 — Introduction
1:02 — Explaining interest rates and inverted yield curves
2:05 — Our yield curve inverted recently, and people became concerned
3:48 — The three-month yield curve is not inverted
4:50 — Don’t get caught up in the negativity
5:16 — If we do have a recession, it will be mild
6:03 — The unemployment rate is low, and savings are high
8:03 — Wrapping things up
If you have questions about today’s topic, please call or email me. I am always willing to help.
Here’s why it still makes sense to buy in our current market.
“If the market is about to crash, shouldn’t I wait to buy?” Many clients have been asking me this question recently, so I thought I’d address it today. While it’s true that prices have been rising for a while, it doesn’t look like we’re heading for a crash anytime soon. Plus, it actually makes more sense to buy instead of rent than it did before. Today I want to discuss why that is.
You can watch my full explanation in the video above, or skip to each topic using the timestamps provided:
0:00 — Introduction
0:43 — Inventory is slowly trickling into our market
1:43 — Our supply and demand are real, unlike in 2008
3:21 — Why you should buy instead of rent
7:15 — It costs way less long term to buy instead of rent
8:15 — Why it’s still a great time to buy
8:50 — Wrapping up today’s topic
If you have any questions about today’s topic or if you’re looking to buy or sell a home, please call or email my team. We’d love to help you!
From our team to your family, we want to wish you a happy holiday season.
It’s the end of the year and time to reflect on this year and the one that’s coming. I’m excited about Christmas this year, and I hope you are as well.
This message is all about gratitude. I want to thank each and every one of you for an amazing 2021. We’ve had some wonderful stories of success to revel in, and we can’t wait to help even more of you in the future.
Whether you need help preparing your home for sale, buying a new home, or anything in between, we’re here to service your real estate needs. Thank you for helping us help the community and making this a year to remember.
This may be a busy time of year, but we are always here to help you and answer any questions you may have. Give us a call or reply to this email; we’d love to help you.
In case we don’t hear from you until 2022, have a happy new year!