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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615 W University Drive Mesa, AZ 85201

$1,400,000
3 Beds
1.5 Baths
1,386 SqFt
Status Active
MLS # 6774011
Property Type Single Family Residence
Price Type --
Prime Multi-Family Development Opportunity in Downtown Mesa's Sought-After Opportunity Zone! Located on a generous 1.33-acre lot at 615 W University Dr, this property offers an exceptional chance for developers. Significant progress has already been made with architectural plans and City approvals for a 27-townhome project. This unique lot, which spans from North Date to North Kosick, consists of five parcels, offering extensive frontage along University Drive. Ideally positioned just one block north of downtown Mesa and the light rail, this property is also minutes from major freeways, the ASU campus, schools, and various shops.

22873 S 193rd Street Queen Creek, AZ 85142

$1,400,000
5 Beds
3 Baths
3,440 SqFt
Status Active
MLS # 6779387
Property Type Single Family Residence
Price Type --
This beautiful red brick home sits on a city acre and is just as gorgeous on the inside as the outside. It has been completely remodeled with stunning features great for hosting. This 5 bed, 3 bath 1 story with a split floorplan has 2 living spaces, new flooring, cabinetry, doors, & completely remodeled Bathrooms with high end finishes throughout. The kitchen was awarded the ''Showcase Your Space'' 2021 Remodel of the Year by Capitol Mark Interiors & includes custom cabinetry, upgraded appliances, satin bronze hardware, & Zellige back splash. The backyard feels like a resort with new stone patio, fireplace with TV, limestone counter BBQ, sparkling pool, firepit with tons of seating and gathering spots. The RV Gate allows easy access for additional driveway, Casita, or Detached Garage.

7026 E Warner Road Tempe, AZ 85284

$1,400,000
5 Beds
5 Baths
5,500 SqFt
Status Active
MLS # 6780197
Property Type Single Family Residence
Price Type --
INVESTOR OPPORTUNITY in a highly sought after location in Tempe. City approved easement on the west side of the properties for access to the North lot; Renovate the existing home or build one large residence. This is a rare opportunity with a variety of possibilities, in a prime Tempe location.

10602 W Electra Lane Peoria, AZ 85383

$1,400,000
6 Beds
5 Baths
3,386 SqFt
Status Active
MLS # 6784168
Property Type Single Family Residence
Price Type --
Welcome Home! This stunning property has it all, offering a main home with 3,035 sqft of living space, 5 spacious bedrooms, and 4.5 bathrooms, plus a separate 351 sqft bedroom and bath within the RV garage—ideal for guests or a private office suite. Step into an incredible chef's kitchen featuring a massive island and a folding glass wall that seamlessly connects indoor and outdoor living. The resort-style backyard is truly one-of-a-kind, boasting a luxurious infinity-edge pool and spa, an outdoor living area with a built-in BBQ and fireplace, and a putting green for a bit of friendly competition. The impressive RV garage, equipped with a 220 outlet, provides a 50x16.5 space on the RV side, with a large storage area above the office. This property blends elegance, convenience, and functionality to create an unforgettable living experience. Don't miss the chance to make it yours!

5516 W Melinda Lane Glendale, AZ 85308

$1,400,000
5 Beds
4.5 Baths
4,100 SqFt
Status Active
MLS # 6785183
Property Type Single Family Residence
Price Type --
Rare Find in Arrowhead Lakes! An Entertainers Dream Home by AslanHomesUSA. This forthcoming to-be-built home Includes architectural plans fully approved by HOA design committee. Buyer can take over with builder and choose all finishes. Please note, Photos provided to illustrate approximate finished appearance. Back yard photos are from a neighboring home for reference. Nestled against the mountainside, this coveted lot offers a perfect blend of natural beauty and urban convenience. Your backyard? A serene mountain escape with hiking and biking trails steps away. Stunning views of the city skyline, sparkling lakes, and majestic mountains. Close to world-class golf, top-tier shopping, and vibrant entertainment, this location is unbeatable.

12776 N 78th Street Scottsdale, AZ 85260

$1,400,000
4 Beds
3 Baths
3,175 SqFt
Status Active Under Contract
MLS # 6781005
Property Type Single Family Residence
Price Type --
Nestled in the heart of the Buenavante neighborhood is a fantastic home that offers a great split floor plan that checks a lot of boxes.Enter through the double doors into a spacious living/dining room w/ views to the back gardens. A separate family room with cozy fireplace makes room for everyone. Updated kitchen with lots of storage & great island for easy prep & a place for guest to hangout. The primary is a dream w/ a fireplace, nice sitting area & access to the pool. Primary bath is wonderful w/ separate tub/shower & separate vanities & closets. The Jack & Jill bathroom between 2 of the bedrooms makes for a great kid setup plus there is a 3rd full bath for guest. South facing backyard w/ an inviting pool & established landscaping. Bonus - No Short Term Rentals allowed in subdivsion.

744 W Royal Palm Road Phoenix, AZ 85021

$1,400,000
3 Beds
3.5 Baths
3,547 SqFt
Status Active Under Contract
MLS # 6784881
Property Type Single Family Residence
Price Type --
If you're a fan of natural light and wide open spaces, this is the home for you! Classic 3 bed, 3.5 bath home on a half acre, irrigated, corner lot in the Royal Palm neighborhood. Tons of flex space - 2 office areas and 3 living spaces as well. Gorgeous views from nearly everywhere in the house. All 4 bathrooms have been remodeled, and the kitchen updated with white shaker cabinets, quartz countertops, and stainless appliances. Beautiful hardwood oak floors recently refinished. Inviting front patio welcomes friends and neighbors, and expansive back covered patio will be the pool party hub. Room for an urban farm too - chicken run area on side yard, as well as lots of fruit trees - 3 massive pecans, apricot, peach, rosemary, basil. Room for all your people, and your ideas!

2432 Leisure World -- Mesa, AZ 85206

$1,400,000
4 Beds
4.5 Baths
3,800 SqFt
Status Active
MLS # 6784370
Property Type Single Family Residence
Price Type --
A rare opportunity! Custom built 4 bedroom , 4.5 bathroom home on a quiet cul-da-sac in Leisure World. Located on the fifth hole of Coyote Run Golf Course and overlooking holes twelve and thirteen. A large great room, a formal dining room, an office , four bedrooms with there own bathrooms plus a half bath, Indoor kittchen features top of the line appliances and a breakfast bar.Access the martini bar via a spiral staircase to the upper level with a fantastic view of the valley. The side yard has a summer kitchen with a retractable awning top and side awnings, The golf course patio is accessible by opening the 20 foot wide electric patio door. The home also features a double garage and a double golf cart garage. Fully Furnished.

39791 N Country Lane San Tan Valley, AZ 85140

$1,400,000 - 5Br/3Ba -  for Sale in Sun Valley Farms, San Tan Valley
New
$1,400,000
5 Beds
3 Baths
3,595 SqFt
Status Active
MLS # 6788522
Property Type Single Family Residence
Price Type --
Huge rate buydown incentive!!! Horse property in highly sought after neighborhood w/ a basement, pool & flood IRRIGATION. This 3.3 acre lot property offers a circular driveway, fully extended porch & mature trees. The equestrian amenities feature 6 covered stalls w/ auto waters, tack room, RV hook up, hay barn & newer 4 rail fencing. Stepping out to your backyard you'll find a gorgeous pool surrounded by professionally designed landscaping, built-in fireplace & an extended covered patio, perfect for entertaining. The laundry room offers plenty of storage & extra refrigerator space. In addition, ground water rights are owned by the Property Owners. This is a true rare find in one of the most desired horse property communities around.

28847 N Royce Road San Tan Valley, AZ 85144

$1,400,000
3 Beds
3 Baths
2,915 SqFt
Status Active
MLS # 6782003
Property Type Single Family Residence
Price Type --
Rare, turn-key & exceptional fully fenced, custom horse property nestled on an oversized 5-acre lot! Great curb appeal w/ stone accent details, desert landscape, low maintenance artificial turf, RV gate, 6 horse stalls, 4-car garage & private well. Open floor plan w/ plantation shutters, light & bright neutral palette, & tile in common areas. Designed for everyday living & entertaining featuring a formal dining & spacious great rooms w/surround sound! Gourmet kitchen boasts 42'' cabinets, SS appliances, granite counters, mosaic tile backsplash, & oversized island w/breakfast bar. Walk-in pantry & staggered cabinetry w/ ample storage. Enjoy the majesty & adventure of living w/ in 3 miles of San Tan Regional Park. Nearby shopping 2.5 miles away, QC Marketplace w/ in 20 minutes. The double doors open to the owner's suite, featuring a lavish bathroom with two walk-in closets, two vanities, a tiled step-in shower, & a soaking tub. Laundry room with a sink & cabinetry for added convenience. The HUGE backyard has been tastefully divided! Relax under the full-length covered patio & paver-Ramada while enjoying the unobstructed tranquil vistas. Beyond the fence, you have an expansive open space with a run-in shed for your horses. Bring your toys, trucks, RVs, & other animals - this property has plenty of space! Don't miss this fantastic opportunity!

9618 W Staghorn Road Peoria, AZ 85383

$1,400,000
4 Beds
3.5 Baths
3,768 SqFt
Status Active
MLS # 6781096
Property Type Single Family Residence
Price Type --
Simply Stunning! Trophy Home. For the discriminate home & lifestyle seeking owner desiring Uniques Finishes Unmatched by other homes. Situated on a premium lot in this gated community, this formidable first-class residence features rarely seen to never impeccable classic 'MasterCraft' spectacular finishes that could be described as a work of art. This lovely property also boasts premium cabinetry & unparalleled finishes throughout this residence. The bright open concept offers grandeur and luxury & is purely ideal for entertaining. Enjoy the resort-like backyard. Built by Maritage Homes, it is built smarter - it features energy efficiency & promotes a low HERS industry standard rating with sustained excellence. Claim this property as yours. Community playground, fitness stations, ramadas & trails. It's more than a residence, it's a lifestyle.

10417 N 180th Drive Waddell, AZ 85355

$1,400,000
4 Beds
3 Baths
3,799 SqFt
Status Active
MLS # 6730289
Property Type Single Family Residence
Price Type --
Welcome to your dream retreat! This exceptional 4 + bedroom 3 bathroom, single story residence is situated on a spacious 1 acre corner lot in the gated community of Cortessa Laureates Estates. This exceptional luxury home is perfect blend of elegance, comfort, and convenience, making it an ideal escape for those seeking a winter haven or a year-round sanctuary. Property Highlights: Breathtaking Indoor Design and Amenities: This 3,799 sq ft home features an exquisite design with custom tailored finishes and meticulous attention to detail.From the grand entrance to the spacious living areas, every inch of this home exudes sophistication and style. The gourmet kitchen is a chef's delight, featuring ample space for culinary creations. The master suite is a private retreat with a spa-like bathroom and a spacious walk-in closet. Multiple guest suites ensure that your visitors experience the same level of comfort and luxury. Outdoor Oasis: Immerse yourself in the tranquility of the beautifully landscaped grounds. The expansive outdoor living space comes complete with a pristine pool - perfect for cooling off during warm Arizona days and an elevated spa for ultimate relaxation. After sunset, the ambiance easily transforms into a nighttime oasis with permanent gemstone and landscape lighting throughout; ensuring this homes appeal will shine no matter the occasion. Perfect for Entertaining: Host unforgettable gatherings and create cherished memories in a setting that combines elegance and warmth. The open-concept floor plan and seamless indoor-outdoor flow make this home ideal for entertaining. The oversized outdoor patio features a custom-built island with an outdoor kitchen. Enjoy alfresco dining under the stars or sipping wine gathered around the firepit with plenty of built in seating. Prime Location: Experience the best of Arizona living with easy access to everything you need. Situated in the coveted community of Cortessa Laureates Estates, this home offers proximity to Sterling Grove Golf Course and the White Tank Regional Park; perfect for the outdoor enthusiasts. Only 10 minutes from some of Arizona's most popular restaurants, shopping, and entertainment including Costco, Fat Cats Family Fun Center, Sprouts, OHSO Brewery, Barrio Queen, Cold Beer and Cheeseburgers, Firebirds Steak House, Cooper's Hawk Winery and much more. Easy highway access, only 15 minutes from the Seattle Mariners Spring Training Center, and 35 from Phoenix Sky Harbor International Airport. Turnkey Convenience: This property comes with an array of services already in place to ensure a worry-free lifestyle. Housekeeping, pool maintenance, and yard care teams that know the property inside and out, so you can focus on enjoying your time in paradise. Additionally, they will even go as far as starting your car while you're away, ensuring your battery stays charged and ready for your next adventure. Whether you're seeking a seasonal retreat or a permanent residence, this property offers the perfect blend of elegance, comfort, and convenience. Book your private tour and discover unmatched beauty and luxury of this Arizona gem!

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