58% of Homeowners See a Drop in Home Values Coming

58% of Homeowners See a Drop in Home Values Coming | Simplifying The Market

According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

The two major causes of the housing crash were:

  1. A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
  2. Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.

Today, housing inventory is at a 20-year low with new construction starts well below historic norms and financing a home is anything but simple in the current mortgage environment. The elements that precipitated the housing crash a decade ago do not exist in today’s real estate market.

The current increase in home prices is the result of a standard economic equation: when demand is high and supply is low, prices rise.

If you are one of the 58% of homeowners who are concerned about home values depreciating over the next two years and are hesitant to move up to the home of your dreams, take comfort in the latest Home Price Expectation Survey.

Once a quarter, a nationwide panel of over one hundred economists, real estate experts and investment & market strategists are surveyed and asked to project home values over the next five years. The experts predicted that houses would continue to appreciate through the balance of this year and in 2018, 2019, 2020 and 2021. They do expect lower levels of appreciation during these years than we have experienced over the last five years but do not call for a decrease in values (depreciation) in any of the years mentioned.

Bottom Line

If you currently own a home and are thinking of moving-up to the home your family dreams about, don’t let the fear of another housing bubble get in the way as this housing market in no way resembles the market of a decade ago.

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8335 N Vista Lane Prescott, AZ 86305

$2,000,000
5 Beds
5 Baths
4,891 SqFt
Status Active
MLS # 6730398
Property Type Single Family Residence
Price Type --
Contemporary home nestled at the base of Granite Mt. in Williamson Valley on 4.75 acres. Enter this passive solar home through extensive rose gardens surrounding an 1100 sf patio framing views of Granite Mt. Upon entering the home designed by a student of Paolo Soleri experience the of Pella Solariums to bring the views indoors. Views of the San Francisco Peaks are captured from the rear covered patio connecting the main house to the guest wing. The main house is 3,681 sq ft. featuring an open floor plan consisting of soaring 20-foot wood vaulted ceilings & clerestory windows in the kitchen, bar & great room. The Chefs kitchen features Wolf & Sub Zero appliances, custom cabinets. See document tab for more details.

31527 N 174th Street Rio Verde, AZ 85263

$2,000,000
5 Beds
4 Baths
4,102 SqFt
Status Active
MLS # 6764599
Property Type Single Family Residence
Price Type --
Discover total privacy on 3 acres in the heart of the AZ desert. This luxurious home blends elegance with a rural lifestyle, featuring lavish decor & comfortable spaces. Enjoy unobstructed mountain views through expansive picture windows. The chef's kitchen boasts stunning metallic granite countertops, a Viking stove, & custom cherry cabinets. It includes double ovens, a wine chiller, & a cozy eat-in area that seamlessly connects to the great room. Impress your guests with an outdoor BBQ & relax next to the beautiful pool. The large patio offers a serene space to unwind & soak in the tranquility of the desert. In the evenings, retreat to the upper deck for views not found anywhere else. Bring your horses & your toys to enjoy miles of trails right, in your backyard.

12067 N 135th Way Scottsdale, AZ 85259

$2,000,000
4 Beds
4 Baths
4,459 SqFt
Status Active
MLS # 6764085
Property Type Single Family Residence
Price Type --
Nestled in the intimate gated community of Villa Montavo in North Scottsdale, this meticulously upgraded home offers unobstructed McDowell Mountain views, private courtyard entry, stone exterior accents, an oversized 3-car garage with excess storage & more! The open-concept, split floor plan is enhanced with multiple fireplaces, soaring ceilings, 4 large bedrooms with walk-in closets, an office with double-door entry, & abundant natural light. The newly renovated chef's kitchen is equipped with brand-new stainless steel appliances, waterfall Taj Mahal granite countertops, custom crown-molded cabinetry, breakfast nook & open concept entertaining. The split primary suite offers utmost privacy, a large sitting area, fireplace & exterior patio access. Step outside to a beautifully designed -- outdoor living area, complete with an expansive covered patio, outdoor kitchen, heated pool + spa, & access to your finished view deck with endless views of the McDowell Mountains. Located minutes from world renowned hiking trails, award winning schools, fine dining, Mayo Clinic & only 20 minutes to Sky Harbor Airport - this property won't disappoint!

25555 N Wrangler Road Scottsdale, AZ 85255

$2,000,000
3 Beds
2.5 Baths
4,177 SqFt
Status Active
MLS # 6779652
Property Type Single Family Residence
Price Type --
Step into this award-winning custom Territorial-style home, where every detail reflects unparalleled artistry and craftsmanship. Nestled in a serene setting, this residence offers an exceptional blend of luxury and comfort, designed for both relaxation and entertainment. Upon entering, you'll be greeted by a beautifully tiled entryway and stunning wood plank flooring that flows throughout the main living spaces. The living room features a cozy gas fireplace and built-in shelving, creating an inviting atmosphere for family gatherings. The separate sitting room, adorned with pendant lighting, leads seamlessly to the lush backyard, perfect for outdoor entertaining. The chef's kitchen is a culinary dream, boasting Thermador appliances, including a six-burner gas stove and dual ovens with a warming drawer. The sleek granite countertops and soft-close cabinetry ensure both functionality and style, while the large walk-in pantry provides ample storage. The formal dining room, which doubles as a game room, has been enhanced with a wine area complete with a sink, ideal for hosting dinner parties. Retreat to the master suite, where comfort meets elegance. Enjoy the warmth of your private gas fireplace and direct access to the backyard. The master bath features a spa-like ambiance with a two-person jacuzzi tub and a luxurious shower complete with a bidet. The master closet has been completely overhauled with custom cabinets and a secure safe for your valuables. Guest accommodations are equally impressive, with custom built-in cabinets in the closet and easy access to beautifully redone bathrooms featuring tile flooring and walls. The outdoor space is an entertainer's paradise, featuring a built-in gas grill, an outdoor shower, and a stone sitting area framed by landscape lighting that highlights the home's exterior. The paver driveway adds to the home's curb appeal, while a separate irrigation and drip system ensures that your garden remains lush and vibrant. This home is equipped with modern conveniences, including a central vacuum system, updated outlets and switches, and new LED lighting throughout. Each room features updated ceiling fans for optimal comfort. Enjoy the built-in surround sound system, perfect for movie nights or entertaining guests. The garage is a true standout, featuring high-end cabinets, a workbench, and a stunning $4,000 epoxy floor with swirling designs. The new garage door operates quietly, enhancing the home's peaceful ambiance.

27921 N Agua Verde Drive Rio Verde, AZ 85263

$2,000,000
3 Beds
3 Baths
3,857 SqFt
Status Active
MLS # 6781968
Property Type Single Family Residence
Price Type --
Prime Location & Magnificent Views from this Home in the Gated, Golf Course Community of Tonto Verde. 3 Bedrooms, 3 Baths, Office and large Kitchen, Dining, & Great Room area. Granite Counters in the Kitchen with a unique Island, Dacor & Bosch Appliances. Vaulted Great Room Ceiling w/ Wood Beam & Accent Lights. Beautiful 8ft Solid Alder Wood Interior Doors throughout. Andersen Window & Sliding Doors with Wood Shutters & Sunscreens. Wrap around back Patio with wood Posts, heated Spa, Built-in BBQ, Fenced, & Views of the Mountains, Lake, and Golf course. Lithium Golf Cart, all Furniture & Furnishings are negotiable and available. This home has a Pass Thru Golf Membership available with Two Championship Golf Courses. Come and see the best of Tonto Verde!

20107 W Medlock Drive Litchfield Park, AZ 85340

$2,000,000
5 Beds
5.5 Baths
5,300 SqFt
Status Active
MLS # 6777104
Property Type Single Family Residence
Price Type --
Welcome to ''Medlock Ranch'' your dream retreat in the heart of Litchfield Park. This sprawling 3-acre estate offers a luxurious blend of modern living, equestrian excellence, and recreational paradise. With an 8-car garage, horse facilities, and an abundance of outdoor fun, this property has something for everyone. The main house features 4bed/5bath and over 5,000 sq ft with all bedrooms on the main level, ensuring convenience and accessibility for every family member. The open and airy great room floorplan is perfect for entertaining, while an upstairs loft/game room adds a touch of fun and versatility. The 8-car garage is a haven for car enthusiasts and adventurers alike. Featuring extended height, it can accommodate your RV, boat, or off-road vehicles with ease.

2355 W Shinnecock Court Phoenix, AZ 85086

$2,000,000
5 Beds
4.5 Baths
4,561 SqFt
Status Active Under Contract
MLS # 6765272
Property Type Single Family Residence
Price Type --
Election is Over, Sock Market/Bitcoin are at All Time Highs and our Seller is open to owner carry. Inquire Immediately. Nestled on the most coveted lot within Anthem Golf & Country Club, 2355 W Shinnecock Ct offers an extraordinary opportunity to own a piece of paradise. This property stands alone in its unmatched privacy, surrounded by breathtaking views and serene natural beauty. It's more than just a home; it's a rare and exclusive offering for those who appreciate the finer things in life. Whether you've admired it from afar or are seeing it for the first time, this is a once-in-a-lifetime chance to experience the pinnacle of luxury living in Anthem. Equiped with two new HVAC units, paid Solar which also heats your pool. Massive savin

13607 N 87th Street Scottsdale, AZ 85260

$2,000,000 - 4Br/4Ba -  for Sale in Mcdowell Shadow Estates 4, Scottsdale
New
$2,000,000
4 Beds
3.5 Baths
4,491 SqFt
Status Active
MLS # 6784063
Property Type Single Family Residence
Price Type --
This beautifully remodeled home in the heart of Scottsdale offers an impeccable blend of style, comfort, and convenience. Boasting 4 spacious bedrooms, plus a den, and 3.5 bathrooms, this 4,491-square-foot residence provides ample room for both relaxation and entertainment. As you step inside, you're immediately greeted by an inviting atmosphere and a massive wall of glass overlooking the backyard. The heart of the home is the recently renovated kitchen, a true culinary enthusiast's dream. Featuring custom cabnetry, high-end Viking appliances, stunning leathered Taj Mahal Quartz countertops, a chic backsplash, and a spacious walk-in pantry This kitchen is perfect for hosting family dinners or entertaining guests. Each of the four bedrooms is designed to provide a personal sanctuary. Generously sized, they each come with a walk-in closet for added convenience. The expansive master suite offers a tranquil retreat, providing the ideal place to unwind at the end of a busy day. The adjoining master bathroom is a spa-like oasis with luxurious finishes, while the master wardrobe closet will exceed your expectations with built-in shelving and an abundance of storage space. The backyard is an entertainer's dream, offering an outdoor oasis where you can bask in the Arizona sun. With a heated pool, spa, and a custom water feature as the focal points. This outdoor space is perfect for enjoying warm Arizona evenings or hosting summer barbecues. Upgraded travertine and lush turf surround the pool area, creating a serene and low-maintenance landscape ideal for both relaxation and recreation. Located in a desirable Scottsdale neighborhood, this home offers the best of both worlds: peace and privacy, yet with all the conveniences of city living. Northsight Park is just a short stroll away, offering a perfect spot for morning jogs or leisurely weekend picnics. Major shopping centers, dining options, and essential services are all within a mile, making day-to-day living a breeze. The area also boasts a wide range of amenities and attractions, ensuring there's always something to do nearby. With its spacious, thoughtfully designed interior, exquisite renovations, and prime location, this home is more than just a place to live, It's a lifestyle. Whether you're raising a family, working from home, or simply seeking a beautiful, high-end space to call your own, this Scottsdale gem checks every box. Don't miss the opportunity to make this extraordinary property your forever home.

2402 E Esplanade Lane Unit 602 Phoenix, AZ 85016

$2,000,000
2 Beds
3 Baths
3,542 SqFt
Status Active
MLS # 6652382
Property Type Apartment
Price Type --
Urban hi-rise living at its best! This updated spacious condo sits on the 6th floor w/ impressive views of Downtown city lights, spectacular sunsets & mountain vistas. The circular wall of glass (w/ motor shades) creates a dramatic light-filled space. Interior finishes include hardwood & stone floors, sleek cabinets, designer lighting & beautiful tilework. The split floorplan offers a spacious secondary bedroom suite, a very large & sophisticated second primary closet & a family room designed for gracious entertaining or view-soaked relaxation. The full-service building provides valet parking, concierge services, a stunning rooftop pool & spa, an impressive gym, a gorgeous club room & EV charging stations. Walking distance to Biltmore shopping and eateries and easy access to Downtown Phx

4828 E Clearwater Parkway Paradise Valley, AZ 85253

$2,000,000
4 Beds
3.5 Baths
3,915 SqFt
Status Active
MLS # 6711236
Property Type Single Family Residence
Price Type --
Opportunity awaits in the Guard-Gated Clearwater Hills community of Paradise Valley. This single-level gated home sits majestically on just under one acre of prime, buildable land, offering privacy and breathtaking panoramic views of Camelback, Phoenix Mountain Preserve, and Mummy Mountains. The spacious floor plan offers an effortless flow between living, dining, and entertaining areas. Spacious Primary Suite with his and her bathrooms, and expansive closet. Three other bedrooms plus a bonus/game room. Easy access to world-class golf courses, fine dining, upscale shopping, hiking trails, and cultural attractions. and minutes away from the vibrant amenities of Scottsdale and downtown Phoenix.

6021 E Calle Rosa -- Scottsdale, AZ 85251

$2,000,000
4 Beds
3 Baths
2,972 SqFt
Status Active Under Contract
MLS # 6758870
Property Type Single Family Residence
Price Type --
Charming Arcadia proper ranch! Located in the Hopi district, this 4 bedroom, 3 bathroom home has the perfect blank canvas for your family. Greeted by the front yard's green grass and mature landscaping, home features great room with fireplace, formal dining, and open concept kitchen and living room with fireplace and access to the backyard. Chef's kitchen includes stainless steel appliances, multiple ovens, wine fridge, and eat-in kitchen with additional fireplace. Primary suite includes reading nook, dual sinks, enclosed toilet, oversized shower, and walk-in closet. Additional features include 2-car garage and architect draft of potential renovation plans. Backyard is perfect for entertaining with the custom pool with expanded pool deck, putting green, covered patio, and privacy created by citrus trees and bushes. Walk or bike on the canal or drive minutes to reach Phoenix's top resorts, golf, hiking, dining, and shopping.

4601 E Desert Cove Avenue Phoenix, AZ 85028

$2,000,000
4 Beds
2.5 Baths
2,916 SqFt
Status Active
MLS # 6689750
Property Type Single Family Residence
Price Type --
SUPER RARE OPPORTUNITY! 5 SEPARATE GARAGES ON THE PROPERTY TOTALING 6168 sq. ft of garages. 3 garages are air conditioned & one comes with 2 lifts. There are 20 total garage spaces for this one-of-a-kind property. Can easily transform the 1620 sq. ft. garage into an awesome guest house.Multiple RV gates & RV Covered Parking. NO HOA. Owned Solar. 3 Horse stalls. 1.1 ACRES that is in one of the single best neighborhoods in all of Phoenix. Morningside Plus is an outstanding community that regularly has events with the neighbors.The walkability score is 11 out of 10 with Trader Joe's, Fry's Signature Store, Ohso, Starbucks & so much more right down the street. Conveniently located minutes from the 51 freeway, PV Mall Reinvention area & Trail 100 for amazing hiking. FAMILY COMPOUND POSSIBILITY

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