Feds hike the interest rates and it comes with benefits

Buying a home in Prescott, AZIf you’re thinking of calling Prescott home now’s the time. The Federal Reserve raised the interest rates .25% recently after a strong jobs report. The hike is a sign that the Federal Reserve is confident about the speed of growth in the U.S. economy. According to Bankrate.com rising interest rates does come with some surprising benefits for homebuyers.

Benefits of higher interest rates

  • Lending has resumed as banks have an incentive to loan out reserves at higher interest rates
     
  • If you apply for a mortgage today your offer will be more competitive than for those who haven’t sought preapproval yet
     
  • Savings accounts have long been in a drought, however, if you’re saving for a home a welcome improvement in interest rates, although modest can help you get to the home of your dreams a little bit earlier

Overall interest rates remain historically low, and better yet Prescott continues to be an attractive destination to call home and comes with benefits too!

Benefits of calling Prescott home

Nestled in the Prescott National Forest, Prescott also boasts a classic downtown complete with a historical setting that includes Victorian homes and an entire block dedicated to the old frontier known as Whiskey Row.

Many homes in Prescott have views of our scenic mountains including Granite Mountain, Thumb Butte, and the Bradshaw and Mingus Mountain ranges. Wherever you choose to live, you’ll be close to the many natural wonders in the area from National Forest lands to one of the many lakes in the area that you can enjoy year round.

Whether you are looking for a country estate with property for your horses, a gated community with a golf course or perhaps you prefer living downtown, Prescott indeed has something for everyone.

Contact Kathleen Yamauchi Group Real Estate or call (928)771-1111 to learn more about calling Prescott home today!

 

Retirees are continuing to call Arizona home!

Retiring in Prescott, AZAccording to United Van Lines 40th annual national movers study, retirees continue to trek to the Mountain and Pacific West with Arizona making the top 10 list.

United Van Lines has tracked migration patterns since 1977 on a state by state basis.  Based on household moves within the 48 states including Washington D.C., states were ranked by both the total inbound and outbound moves.

According to the study, the reasons movers gave for relocating to Arizona included retirement, health, family, lifestyle and job opportunities. The number of new residents coming into Arizona exceeded the outbound movers. With 57% of movers coming into Arizona, only 43% of residents chose to leave the state in 2016.

Arizona has long been a retirement destination. However, a new trend seems to be emerging as retirees are leaving the once traditional move to sunny beaches.

Prescott alone offers mild weather and a four-season climate with an annual snowfall of 24 inches, and rainfall of 19 inches. Located 96 miles northwest of Phoenix in the Bradshaw Mountains at an elevation of 5,400 feet it is an ideal place to call home.

Prescott also has a variety of homes for sale in popular neighborhoods such as High Valley Ranch, Rancho Diamante, American Ranch, and Hassayampa. From gated golf communities to horse properties complete with riding trails and over 10,000 acres of Prescott National Forest there truly is something for everyone.

At Kathleen Yamauchi Group we have a great deal of knowledge about the Prescott area and if you would like to learn more about calling Prescott Arizona home, to contact Kathleen Yamauchi Group Real Estate or call (928)771-1111 today!