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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14411 N Valencia Drive Fountain Hills, AZ 85268

$1,399,995
3 Beds
3 Baths
2,090 SqFt
Status Active
MLS # 6691514
Property Type Single Family Residence
Price Type --
MOVE IN READY! This contemporary Meyer home is our most popular plan and has the study modified to a third bedroom and bath as well as a third garage! A nice front courtyard area is created with the placement of the additional garage making for great outdoor space and inviting entrance to the home. This home features a beautiful open foyer and the kitchen boasts white cabinets, a huge island and Wolf appliances including a 48'' slide in range and 48'' built in sub zero refrigerator! The 3rd bedroom has a nice walk-in closet and the primary bedroom is tucked nicely in the back of the home. The primary bath is lovely with a fre standing tub, walk-in shower and great walk in closet! This home is nicely decorated and waiting for you!

1717 E Minton Street Mesa, AZ 85203

$1,399,991
4 Beds
3.5 Baths
3,079 SqFt
Status Active
MLS # 6786892
Property Type Single Family Residence
Price Type --
Welcome to this NEW stunning 4-bedroom, 3.5-bathroom residence in the prestigious gated community of Overlook at Forest Knoll! It greets you with stone accents on the facade, a 3-car garage, a paver driveway, and an RV gate. Discover bright and spacious living areas for relaxation and memorable moments with loved ones. Wood-look floors, recessed lighting, upscale ceiling fans, and sliding glass windows that merge indoor and outdoor activities are some features that you'll also adore. Hone your cooking skills in the sleek kitchen showcasing SS appliances with a wall oven, built-in ice maker, quartz counters, built-in ice maker, pristine white cabinets, a walk-in pantry, and a center island... Retreat to the luxurious primary bedroom, a true sanctuary with a lavish ensuite boasting dual sinks, a make-up vanity, a soaking tub, and a generous walk-in closet. Outside, the sizable backyard offers an array of potential for your creative landscaping ideas and tranquil neighborhood views. This gem will sell fast!

7180 E Kierland Boulevard Unit 415 Scottsdale, AZ 85254

$1,399,900
2 Beds
2 Baths
1,657 SqFt
Status Active
MLS # 6752162
Property Type Townhouse
Price Type --
In the 7180 building of Optima Kierland, this 2 bed, 2 bath condo that graces 1675 sq. ft. It features open space, ample closets, and a picturesque patio space off the primary bedroom. East facing, the unit boasts tranquil mountain views and is bathed in natural light, thanks to floor-to-ceiling windows. The modern layout features Bosch appliances, including an electric oven and gas cooktop. Built in 2021. Original owner. It comes with two parking spots. The Sky Deck adds luxury with a heated pool, spa, and running track. Not to be outdone, an outdoor theater and fire pit featuring seating for beautiful nights. Right outside, Kierland Commons and Scottsdale Quarter offer dining and entertainment. A blend of luxury and optimal location, it offers the best of Scottsdale!

33207 N 12th Street Phoenix, AZ 85085

$1,399,900
4 Beds
3.5 Baths
4,060 SqFt
Status Active Under Contract
MLS # 6778967
Property Type Single Family Residence
Price Type --
Prepare to be amazed! Check out this luxurious 4 bed, 3.5 bath tri-level home now on the market! Great curb appeal, a manicured desert landscape, 6 garage spaces, and a paver driveway are just the beginning. Discover a sizeable living area showcasing elegant wood flooring, high ceilings w/exposed wood beams, plantation shutters, a fire place, and a wet bar perfect for entertaining. Continue into the spacious family room, where you can spend quality time w/friends & loved ones. The chef's kitchen is comprised of wood cabinetry w/crown moulding, a walk-in pantry, granite counters, pendant lighting, SS appliances, a prep island, and 2 breakfast bars. You'll love the primary bedroom, boasting a 2nd fireplace, direct outdoor access, a walk-in closet, and a lavish ensuite w/dual vanities. Lastly, the wonderful backyard includes a covered patio, extended seating area, an outdoor fireplace, putting green, a refreshing pool/spa combo, and stairs leading to a rooftop deck! What are you waiting for? Act now!

1621 E Rolling Rock Drive Phoenix, AZ 85086

$1,399,900
5 Beds
2.5 Baths
4,290 SqFt
Status Active
MLS # 6769373
Property Type Single Family Residence
Price Type --
This expansive single-level home offers an exceptional combination of luxury, comfort, and functionality. With 5 bedrooms and 3.5 bathrooms spread over 4,290 square feet, it provides ample space for family living and entertaining. The home features split floor plan, ensuring privacy for the primary suite and guest suite. The gourmet kitchen is a chef's dream, equipped with stainless steel appliances, an oversized working island, granite countertops, and ample cabinetry. The primary suite is a private retreat with two spacious walk-in closets, an ensuite bath featuring a dual sink vanity, a separate tub and shower, and a private exit to the backyard, where you'll enjoy stunning views of Apache Peak, Circle Mountain, and Pyramid Peak. One of the bedrooms is designed as a guest suite with its own ensuite bath and separate exit to the backyard, providing ultimate convenience and privacy for visitors. The outdoor space is equally impressive, with a fully landscaped 1-acre lot that includes a pergola, sparkling pool, waterfall, and low-maintenance turf. There's also plenty of room for RV parking, making this home ideal for those who enjoy adventure and travel. The paver driveway leads to a 3-car epoxy garage, complete with built-in cabinets and a 220 outlet for electric vehicle charging. With 10-12' ceilings throughout, Travertine and carpet flooring, two newer AC units, and a water heater that is approximately 3 years old, this home has been thoughtfully designed and maintained for maximum comfort and efficiency. Whether you're enjoying the breathtaking mountain views or hosting gatherings in the beautiful backyard, this home offers a truly exceptional living experience.

185 W Marilyn Way San Tan Valley, AZ 85140

$1,399,900
3 Beds
3 Baths
2,200 SqFt
Status Active
MLS # 6521381
Property Type Manufactured Home
Price Type --
The best built and most innovative horse property I have ever had the privilege to list. Must see to appreciate. Spoil your horses with heated water at the wash rack, Horse barn has 8 large stalls 15X 30 , 2 more stalls that are currently cut in half for goats and sheep but can be easily converted to the 15X 30 stalls.. The horse barn has a concrete breezeway. Under the roof is a killer 15 x 30' r tack room with a bathroom and is lined with rough cut lumber . All drinkers are run off one float , the barn has enough room to keep a huge live in horse trailer and truck under roof with plugin. 200 amp service to the barn and arena. . 5,000 gallon storage for the arena sprinkler system that can be run remotely from an app on your phone. Arena is 180x335' Calf and team roping chute . The arena ground is perfect with imported sand. , there is also an alley set up for roping calves. Arena lights a LED ( very cheap to run) The end of the arena is a stripping chute and numerous catch pens. Hay barn . Solar runs the barn and arena lights and everyting in that part of the property.

2112 E Kerry Lane Phoenix, AZ 85024

$1,399,000
6 Beds
5.5 Baths
4,535 SqFt
Status Active
MLS # 6779901
Property Type Single Family Residence
Price Type --
Back on market!! With a massive $400k price cut. This is now your chance to own a one-of-a-kind mansion built on a former gold mine. And YES! mineral rights do convey with title. Carved into the bedrock of The Phoenix Mountain Preserve the new owners will benefit from views of the entire valley. Conveniently located in the PV school district, and just minutes away from Desert Ridge, Scottsdale and Paradise Valley. Noteworthy Items: 1) 2nd floor newly remodeled. 2) 400ft wide lot. 3) 30-foot ceilings 4) No HOA. 5) Sub-Dividable Lot. 6) RV Garage, with w/c & mezzanine level. 7) Fire Sprinklers throughout the house, casita and garages. 8) Gas and city sewer. 9) Casita with kitchenette.

213 El Camino Tesoros -- Sedona, AZ 86336

$1,399,000
3 Beds
3 Baths
2,714 SqFt
Status Active
MLS # 6705042
Property Type Single Family Residence
Price Type --
Serene, secluded, and lovingly maintained, this exceptional Sedona mountain retreat offers a breathtaking escape that feels a million miles away from the stresses of everyday life! Set back from the street, this single-story 3-bedroom, 2.5-bath haven stands proud on 0.47 acres of sylvan land. Low-maintenance landscaping and towering mature trees border the driveway while making your way to the entry, where artisan stained glass double doors usher you into an equally impressive interior. Elegant natural tones and beautiful tile and hardwood flooring are on show across the foyer, guiding guests towards the step-down living room with a custom concrete fireplace and stylized wood-clad ceilings. Wide glass doors leading to the deck encourage seamless indoor/outdoor entertaining. Expansive picture windows frame breathtaking views while filling the dwelling with abundant sunlight. In the adjacent dining area, showcase your China collection or personal memorabilia in two built-in hutches while the atmosphere is enhanced by a sophisticated chandelier. Bright and well-sized, the gourmet-inspired kitchen treats the avid cook to a full set of stainless steel appliances, a wall of handsome cabinetry, and gleaming granite countertops that extend to the multi-seater bar and island. Take your morning meals in the pendant-lit breakfast nook where glass sliders invite you to dine alfresco. Three stylish and comfortable private bedrooms await you after a long day, two of which are accommodated by an attractive shared bath with a shower/tub combo. Outshining the others, double doors leading to the primary suite reveal an unparalleled oasis highlighting a striking Kiva fireplace, exclusive balcony access, and a large customized walk-in closet. Indulge in a rejuvenating soak in its luxurious ensuite with dual vanities, a separate glass step-in shower, and a spa-like tub. Head outside and host weekend BBQs, relax under the covered sitting area, or bask in the sun and fresh breeze on an extensive, wrap-around deck where you can unwind with vistas of the Red Rocks in sight. A few stairs down, explore the rest of your acreage and the nearby woodlands that present endless potential for outdoor recreation. Other notable features are the large laundry/craft room, Pet deck, powder rooms, reverse osmosis, water softener, all appliances stay, and an attached 2-car garage with a ton of storage. Adventure enthusiasts will enjoy its close proximity to several hiking trails like the Outer Limits, Schuerman Mountain, Scenic Overlook, Lover's Knoll, and Cathedral Rock. Plus, Sedona Red Rock High School and downtown Sedona's shops, restaurants, and other conveniences are just a short drive away. This is a community of No STR.

16546 W Blue Sky Drive Peeples Valley, AZ 86332

$1,399,000
2 Beds
1 Bath
1,302 SqFt
Status Active
MLS # 6786168
Property Type Single Family Residence
Price Type --
Welcome to this beautifully remodeled 1930's stone ranch house situated on 40.16 acres of wide-open space in serene Peeples Valley. This charming 1,302 sq ft home boasts 2 bedrooms and 1 bath, offering a cozy, yet spacious living environment. The beamed ceilings throughout the interior create a rustic and warm ambiance, while modern updates make it a comfortable and stylish retreat. Having both a front and a back covered porch, you can take your pick on the best place to relax and take in the panoramic views of the surrounding landscape. The property includes a fully fenced yard, perfect for pets or gardening. Additionally, the large metal barn is ready for horses with a sizable corral and plenty of hay storage. Sweeping pastures would make a great place for an arena or could be fenced for rotating cattle pastures. This is a rare opportunity to own a piece of tranquility with historic charm and modern amenities in one of the most beautiful and peaceful parcels in all of Yavapai County with endless possibilities.

4621 E Walter Way Phoenix, AZ 85050

$1,399,000
5 Beds
4 Baths
3,999 SqFt
Status Active
MLS # 6763363
Property Type Single Family Residence
Price Type --
Move-in ready home located in the highly sought-after gated community of Sanctuary at Desert Ridge. Boasting 5 Beds, 4 Baths, and a two-car garage with built-in racks. Endless features include dual AC units w/ 5 zones, a private travertine courtyard, prime North/South exposed lot, water filtration system & a spacious den. The gourmet eat-in kitchen offers extended shaker-style cabinets, a mosaic tile backsplash, high-end granite countertops, stainless steel appliances, a gas cooktop, and a reverse osmosis system. The master bath features quartz countertops, a spacious walk-in closet, dual vanities, and a dual-entry shower. The backyard is perfect for entertaining, complete with a jacuzzi, built-in stainless steel BBQ area, glass fireplace, an entertainment wall with a TV and fridge... a misting system, and faux grass for easy upkeep. The private community of Sanctuary at Desert Ridge has it all. Enjoy exclusive access to the community pool, spa, clubhouse, playground, and wellness center.

11288 N San Clemente Street Surprise, AZ 85388

$1,399,000
4 Beds
3.5 Baths
3,743 SqFt
Status Active
MLS # 6783425
Property Type Single Family Residence
Price Type --
Rare, one-of-a-kind golf course/mountain/sunset view lot in Sterling Grove! One of the best lots the neighborhood has to offer, with stunning views of the White Tanks, overlooking hole 11. Enjoy resort style living in your outdoor space with pool, travertine patio, heavily landscaped with 15 ft privacy trees, tiled firepit with gas line for grill. Enclosed patio with tiled entertainment wall, including 2 TV niches & bar with beverage fridge, storage and trash. Front porch includes gorgeous custom porch swing with Sunbrella cushions designed to withstand weather. Open floor plan with custom real wood beams, and gourmet kitchen equipped with upgraded 42'' cabinets, tile backsplash to ceiling, and gas cooktop stove. Custom chevron shiplapped island with marble countertops... and more... ... Wainscoting & custom wallpaper in dining, along with built in bar for entertaining, equipped with floating shelves, tiled wall & cabinets with beverage fridge. Glass double french doors to den, wall niches for décor in entry. Designer lighting throughout. Woven wood cordless shades & designer curtains throughout. Tile all through main floor except in master. Charming Master Bath with standalone tub, herringbone tile floor, seamless shower enclosure & custom mirrors. Permanent Jellyfish holiday lights. Don't miss this one!

2415 N 87th Way Scottsdale, AZ 85257

$1,399,000
4 Beds
3 Baths
2,012 SqFt
Status Active
MLS # 6785466
Property Type Single Family Residence
Price Type --
Welcome to your ultimate oasis of luxury and sophistication, perfectly nestled in quiet neighborhood minutes to Old Town. This stunning residence on an almost 18,000 sq ft lot has been meticulously designed with high-end finishes and state-of-the-art features to create an entertainer's paradise. Over $400k in renovations up the wow factor in this well laid out 4 bedroom home. New plumbing, electrical, designer lighting, new roof, new front and back yard with huge projector screen for outdoor movie time, and covered patio. Love your pristine pool, hot tub, 42 yard par 2 golf hole, fire pit and RV gate plus side parking allows for more than enough toys/cars. Kitchen with large quartz island & SS appliances and also features a coffee and wine bar area. Bathrooms with gold and black fixtures, rain shower heads, freestanding deep soaker tub and tons of storage and double vanities. Set on a spacious lot, this home is more than a residenceit's a sanctuary type lifestyle. Whether hosting a grand soirée or enjoying a quiet evening under the stars, this entertainer's dream home is your perfect match.

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