The Most Affordable Housing Options in Queen Creek Right Now

A lot of people look at home prices in Queen Creek, do some quick math, and talk themselves right out of it. But the list price on a home is not the same as what you will actually pay every month. And in the current market, there is a real gap between those two numbers that most buyers never find out about.

What Affordable Actually Means in the Queen Creek Real Estate Market Right Now

When buyers see a home listed at $650,000 in Queen Creek, their first reaction is usually that it is out of reach. But here is what that number does not tell you.

Builders right now are offering interest rates that are below the current market rate. That buydown can make a significant difference in your actual monthly payment. A home listed at $650,000 with a builder rate of 4.5% looks very different on a monthly basis than the same price at a higher market rate. The list price is the same. The payment is not.

The same principle applies to resale homes. Sellers who are motivated to move their property can offer what are called seller concessions, which is money they put toward buying down your interest rate through the lender. That directly reduces your monthly payment without reducing the sale price of the home. But you have to know to ask for it, and you have to know whether the seller is actually motivated enough to offer it. That is what I help buyers figure out.

How My Buyers Have Gotten Real Money Back at Closing in Queen Creek

This is not a hypothetical. I have had buyers who walked away from a new build closing with a check in hand because the builder concessions exceeded the closing costs. The builder covered everything plus more.

On the new build side, here is the range of what I have negotiated for buyers:

• Full closing cost coverage, which can be 3 to 4 percent of the purchase price
• Backyard landscaping included
• Garage epoxy
• Structural upgrades
• Interest rate buydowns that reduce the payment for the life of the loan

On the resale side, I have gotten up to 3 percent of the purchase price back to the buyer, which they can use for closing costs, to buy down their rate, or however their lender allows.

There are also parts of San Tan Valley just outside Queen Creek that currently qualify for USDA loans, which is a loan program that allows zero percent down. Most people only think of VA loans when they think of zero down. But USDA loans are available for income-eligible buyers in qualifying rural areas, and parts of the Southeast Valley still fall into that category. That can completely change the affordability math for buyers who do not have a large down payment saved.

The Trade-Offs Buyers Accept to Find a Lower Price Point in Queen Creek

It’s worth being honest about what you give up when you are searching in the lower price range for this area.

You are likely looking at a smaller yard. You may be looking at an older home, maybe 10 years old, which sounds funny but that is what older means out here. And you will likely be further south, which puts you further from the freeway access and further from the retail and dining options that have developed closer to the 202 and the 24. The roads and freeways being built now will eventually close that gap. But right now, further out means more driving.

Specific Communities Where Prices Tend to Run Lower

If you are willing to trade some convenience for a lower mortgage payment, here are the areas I point people toward.

• Johnson Ranch in San Tan Valley is a large, established community that sits further out from the main commercial corridors. It is a great neighborhood, but the drive to things is longer. That is the trade-off and it keeps prices more accessible.
• Florence is a city just south of the Queen Creek and the San Tan Valley area where you can find homes in the $200,000s. That price point does not exist anywhere in Queen Creek right now. If your budget is stretched, Florence is worth a serious look.

Programs and Strategies That Have Helped My Buyers Afford This Market

There are three main strategies I walk first-time buyers through when affordability is a concern.

• Down payment assistance programs: these are available through lenders and can reduce what you need upfront. The important thing to know is that some of them require you to repay the assistance if you sell within a certain number of years. Go through a lender to understand the terms before you rely on this.
• Builder concessions: on new builds, everything is negotiable. Incentives, closing costs, rate buydowns, landscaping, upgrades. I negotiate all of it on my buyers' behalf before we sign anything.
• Seller concessions on resale: motivated sellers will often agree to contribute toward your closing costs or rate buydown. Up to 3 percent of the purchase price is something I have achieved for buyers, and that money goes directly toward making the payment more manageable.

The path to affordability in Queen Creek is almost always there. It just takes someone who knows where to look and how to ask for it. Call or text me at (480) 381-1636 and we will find out what your budget can actually do in this market.