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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41198 Us 180 -- Nutrioso, AZ 85932

$1,300,000
3 Beds
2.5 Baths
1,914 SqFt
Status Active
MLS # 6758430
Property Type Single Family Residence
Price Type --
Welcome home to the ''Hollywood House''. Beautiful, one of a king, custom-built log cabin features glue lam beams and pressurized wood throughout. Nestled on the top of the hill with panoramic views of Escudilla Mountain. Grab a coffee, step outside on the huge front deck and enjoy the wildlife. Three levels, large loft with half bath. Main floor is the great room, primary bdrm, kitchen and formal dining room. Basement includes a two car garage with brand new living quarters to include, living area, bdrm and full bath. All floor to ceiling windows in great room have been beautifully remodeled with wood and Milgard windows. Make an appt with me to see this home before it's gone.

901 Torreon Drive Litchfield Park, AZ 85340

$1,300,000
3 Beds
3 Baths
2,439 SqFt
Status Active
MLS # 6786456
Property Type Single Family Residence
Price Type --
Welcome to a one-of-a-kind STUNNER in old Litchfield Park! This gem was built from the ground up in 2013. In 2023 it was extensively remodeled with a curated design and high-end finishes! The travertine path separating the lush green lawn guides you to your front courtyards. The grand foyer sets the stage for the open floorplan and bright views thru the 12' multi-slide. Tall ceilings and 8' custom doors accent the luxurious feel. Your dream kitchen boasts top-of-the-line Sub Zero, Wolf & Cove appliances consisting of 30''column refrigerator/freezer, 48'' range, hood liner, microwave, ice machine, 42 wine bottle refrigerator and dishwasher. Warm rift white oak custom cabinetry and paneled appliances enhance your cooking experience. The kitchen island is proportioned perfectly in the room and allows for 4 guests comfortably as well as ample working space while entertaining. The exquisite honed marble countertops compliment the vision. The dining room offers a spectacular 80 wine bottle glass lit display. The laundry room has an integrated dog crate, lockers for extra storage as well as drawers for shoes. The primary wing consists of a spacious bedroom, a luxurious bathroom, custom closet system as well as an adjacent den with fireplace. The secondary bedrooms are spacious as well with walk-in closets. The secondary bathroom is light, bright and has a creative tile design! The pool bath adjacent to the kitchen has direct access to the pool. 9 ½ French oak wood flooring adorns all the living areas for extra warmth. In the backyard you will find a 4 hole putting green, huge diving pool, lawn for playing, fruit trees & raised garden bed. The 3 car garage will accommodate your cars & toys perfectly. The additional storage cabinets are a bonus. Enjoy the benefits of a newer constructed home in this mature sought after community. This home blends elegance and modern convenience for a truly exceptional living experience! Seize this opportunity!

Flagstaff AZ 86004

$1,300,000
6 Beds
3 Baths
3,515 SqFt
Status Active Under Contract
MLS # 6742413
Property Type Single Family Residence
Price Type --
Incredible home in Continental Country Club and is NOT in the HOA, currently a turnkey, 5 Star, successful vacation rental. Furnishings negotiable. Spectacular Mountain views, soaring ceilings, multiple fireplaces, expansive gourmet kitchen w/ Subzero fridge, wine cooler, walk in pantry. Solid Oak flooring in Dining and Living rooms, exterior paint in 2021, new roof in 2020, premium tankless hot water heater, updated primary bathroom plus other updates. Ceiling fans throughout. AC upstairs. Corner lot, 2 long paved driveways, with lots of onsite parking spaces. Enjoy 2 spacious decks. Bonus upstairs bunkroom and loft. Entertainer's dream with pool table, 2 bars, game tables, kid's hideaway playroom and plenty of room to sleep family & friends. Ask about Bear Paw amenities to purchase.

26761 S 181st Place Queen Creek, AZ 85142

$1,300,000
5 Beds
3 Baths
3,000 SqFt
Status Active
MLS # 6702570
Property Type Single Family Residence
Price Type --
NEW BUILD-Complete and move-in ready! Enjoy the priceless views of the San Tan Mountains, 957 sq/ft detached casita with full kitchen, irrigated lot and NO HOA, YES PLEASE! Located on just over an acre in the desirable Chandler Heights District of Queen Creek. This open floor plan offers plenty of space for indoor/outdoor entertaining and also includes a den. 5 bedrooms, 3 full bathrooms. Oversized 4 car garage and abundant space finishes off this dream home. Home is currently under construction and builder is offering an allowance for the following: appliances, cabinets, counter tops, flooring, electrical and the front door. Minutes from local shopping, hiking, entertainment, Horseshoe Park & Equestrian Center and the newly build Pecan Lake Entertainment Center!

26615 S 181st Place Queen Creek, AZ 85142

$1,300,000
5 Beds
3 Baths
3,000 SqFt
Status Active
MLS # 6702571
Property Type Single Family Residence
Price Type --
NEW BUILD-Approximate completion date November/December 2024. Enjoy the priceless views of the San Tan Mountains, 957 sq/ft detached casita with full kitchen, irrigated lot and NO HOA, YES PLEASE! Located on just over an acre in the desirable Chandler Heights District of Queen Creek. This open floor plan offers plenty of space for indoor/outdoor entertaining and also includes a den. 5 bedrooms, 3 full bathrooms. Oversized 4 car garage and abundant space finishes off this dream home. Home is currently under construction and builder is offering an allowance for the following: appliances, cabinets, counter tops, flooring, electrical and the front door. Minutes from local shopping, hiking, entertainment, Horseshoe Park & Equestrian Center and the newly build Pecan Lake Entertainment Center!

1302 E Maddock Road Phoenix, AZ 85086

$1,300,000
3 Beds
2 Baths
2,702 SqFt
Status Active
MLS # 6763983
Property Type Single Family Residence
Price Type --
Come see this beautiful property with a beautiful 2700 square-foot main home and then a two bedroom two bath guest house. Plus lots of horse stables and just an amazing overall property.

7737 E Shooting Star Way Scottsdale, AZ 85266

$1,300,000
3 Beds
2.5 Baths
3,504 SqFt
Status Active
MLS # 6744041
Property Type Single Family Residence
Price Type --
Beautiful home in guard gated Winfield with breathtaking views. Home features a gated courtyard with lush landscaping, and backs onto private natural space with no homes in sight. Once through the front door, you are greeted by a massive living and dining room with soaring ceilings and expansive windows letting in lots of natural light and magnificent views of the beautiful backyard. Custom wood flooring in most areas, with tile and carpet in the remainder of the home. Oversized kitchen has beautiful Granite countertops, lots of cabinets, Stainless appliances and walk-in pantry. Breakfast Bar separates kitchen from eating area, which overlooks an enormous Family Room with built-in entertainment center and fireplace. Family Room leads to an outdoor entertainer's dream steps away from the Saltillo Tiled covered patio. Backyard features a built-in BBQ with sink and small fridge, a small pool and a raised fireplace with surrounding seating and gorgeous views. Primary suite features wrap around windows overlooking stunning views, oversized bathroom and large organized walk-in closet. Bathroom features separate sinks, walk-in shower and large raised bathtub. In addition to two large secondary bedrooms, there is an oversized flex room with tile flooring and direct access to one of the two double garages that could serve as an office, game room or workout room. Community offers a beautiful community pool and spa, workout facilities, many Pickleball and Tennis Courts and a beautiful clubhouse.

28319 N 252nd Avenue Wittmann, AZ 85361

$1,300,000
4 Beds
2 Baths
2,115 SqFt
Status Active
MLS # 6696908
Property Type Single Family Residence
Price Type --
***DREAM HORSE PROPERTY*** Escape the hustle & bustle of the city and embrace the beauty & serenity of country life in this fantastic Custom Santa-fe style property! This beauty is located on it's own private road, comes with a MASSIVE almost 5 acre lot including 2 parcels!! Upon arrival, discover roping & riding arena, 6 shaded double stalls total of 12 stalls and 19 pens with water at each one , 40 foot conex for tack, hay & extra storage, This is one of the most completely turn-key, ready to move into horse properties out there. Conveniently located within a 30 minute drive to all the great roping & barrel racing arenas in Morristown, Wickenburg & Buckeye RV hookups parking with ele., plenty of room for all your toys, horse trailers & Big trucks, your own private well with the ability to have 4 shares if more homes were to be built on the additional parcel someday, a 3-car garage & gated courtyard with Rustic knotty pine beams. This bright & airy open floor features a beehive fireplace, tile flooring, recessed lighting, and a soothing palette. The kitchen comes with large cabinetry, granite counters, and built-in appliances. The primary retreat has a sliding barn door that opens to a full bathroom flooded with natural light, A dual vanity, soaking tub, glass block shower, walk-in closet, and backyard access complete the picture for this ensuite. The den is perfect for an office or an extra bedroom. The laundry room includes attached cabinetry & a sink. Sit back & relax under the covered patio while contemplating colorful sunsets & panoramic mountain views! Let's not forget about the attached parcel 503-32-031-B, which provides tons of space for horses to roam & limitless possibilities! Inquire today! Furnishings, John Deere tractor & bobcat can be purchased with separate bill of sale.

3333 N 87th Street Mesa, AZ 85207

$1,300,000
4 Beds
3.5 Baths
3,503 SqFt
Status Active
MLS # 6781067
Property Type Single Family Residence
Price Type --
Gorgeous Santa Fe style home offering elegant southwest living with Mountain Views. At over 1900 feet elevation and located high in the desert uplands/foothills bordering Las Sendas. Very quiet and private neighborhood of million-dollar homes. No HOA. Incredible views with 1.3 acres. Lots of space for your RV or toys. The property features 3503 sq ft of living space. Extra deep garage and large storage room. The kitchen features hickory cabinets, granite countertops, two built-in ovens, raised dishwasher, and a large walk-in pantry. The Master bathroom offers dual sinks, soaking tub, walk-in shower and large walk-in closet. 10' ceilings throughout, 8' knotty alder interior doors. Two covered balconies front and rear upstairs which provide beautiful Valley and Mountain view Super large rear patio, outside sitting area with fireplace. Entire house painted in 2021. FEATURES: Higher Elevation - 1,905 feet (City of Mesa average elevation is 1,263 feet) Large lot - 1.3 acre County Island Quiet neighborhood No HOA Santa Fe style Southwest exposure Surrounded by Mountain views Valley views - day and night Well - new water tank and well pump and tank pump 5 years ago - not shared Two covered balconies - front and rear Premium security screen doors all around - main level and balconies 10-foot ceilings throughout 8-foot interior doors Round corners Extra deep 3 car garage - Cabinets in garage 3 A/C units - 1 new 6 years ago - 1 new 3 years ago 3 1/2 bathrooms - all with walk-in showers Granite counters in kitchen Raised dishwasher Brand new GE range/oven Appliances stay - refrigerator, washer and drier two water heaters - one replaced 4 years ago new luxury vinyl plank floors and new carpeting 8 foot solid wood doors Hickory cabinets throughout Sunscreens New master bath soaking bathtub Upgraded fans in every room - kitchen fan is remote control Video projector and screen in family room - speakers in ceiling Surround speakers in master bedroom Huge walk-in pantry Two built-in microwave ovens Two separate ovens Super large rear patio - 15 feet x 70 feet New Master Spa hot tub Front patio sitting area Parking for three cars at side of garage/or RV parking Outside sitting area with fireplace Foam roof with tile features - foam roof re-coated in 2024 Entire house painted in March 2021 Water softener Reverse osmosis system Copper plumbing Lot engineered with culverts, grading and stones Topographical surveyed Area for additional driveway and parking from Russell Street 20 minutes to Sky Harbor 15 minutes to ASU 5 minutes to MCC East 10 minutes to Red Mountain High School 15 minutes to Saguaro Lake/Salt River

31006 N Memory Lane Queen Creek, AZ 85142

$1,300,000
5 Beds
4 Baths
3,209 SqFt
Status Active
MLS # 6774124
Property Type Single Family Residence
Price Type --
Welcome to this exceptional luxury estate, where elegance, functionality, and modern design come together on a sprawling 1.299-acre lot. With 3,209 sqft of living space, 5 bedrooms, and 4 bathrooms, this home offers the finest in high-end living. At the heart of the home is a gourmet kitchen that truly stands out, designed for both culinary enthusiasts and entertainers. The kitchen features a large 10-foot island, an 8-burner Forno gas range, a custom chef's fridge, and an oversized walk-in pantry. Lovely accent pendants above the island add a touch of sophistication, making this space as beautiful as it is functional. The luxurious primary suite is a true retreat, offering a spacious bedroom with ample natural light and serene views. The primary bathroom exudes luxury...click more... with a huge walk-in shower, a standalone soaking tub, and elegant finishes throughout. The expansive walk-in closet completes this private haven, providing both comfort and style. This home has been meticulously upgraded with significant aftermarket improvements, including front landscaping, a custom courtyard, and stunning wood plank tile flooring throughout. High ceilings, with 10-foot heights across the home and an impressive 11 ft 6 in ceiling in the great room, create a sense of grandeur and openness, perfect for both relaxing and entertaining. Outdoor living is equally impressive, with breathtaking views of the San Tan Mountains providing a stunning backdrop for your daily life. The property, zoned for horse use, offers endless possibilities for outdoor amenities like a pool or equestrian facilities, all within the privacy of your own estate. Practicality meets luxury with an extended driveway that has been expanded to accommodate up to nine vehicles, ideal for hosting guests or simply enjoying the convenience of extra space. The property also features dual RV gates on each side, allowing for easy pull-through access for large trailers or motor homes, a rare and highly desirable feature. Energy efficiency is a priority, with spray foam insulation and two AC units ensuring comfort year-round. The 3-car garage, complete with epoxy-coated floors, adds to the home's functionality and appeal, providing ample space for vehicles and storage. In addition to the luxurious features of this stunning estate, the location offers proximity to some of the most appealing destinations in the area. Just a short drive away, San Tan Mountain Regional Park provides miles of scenic hiking, mountain biking, and equestrian trails with breathtaking desert views, making it the perfect escape for outdoor enthusiasts. Nearby, the Queen Creek Olive Mill offers a charming experience with farm tours, artisan olive oil tastings, and farm-to-table dining, perfect for a relaxing day out. For equestrian lovers, the Horseshoe Park & Equestrian Centre is a nearby facility that hosts a variety of horse-related events and competitions throughout the year, serving as a hub for the local horse community. Additionally, Schnepf Farms, a favorite family destination, offers seasonal events like the Pumpkin & Chili Party, U-Pick gardens, and a country store, providing endless fun and fresh produce year-round. For golf enthusiasts, the area offers excellent courses just a short drive away. Here are four great options nearby: San Tan Highlands, Encanterra® Country Club, Las Colinas Golf Club, and Poston Butte Golf Club. These destinations, combined with the luxury and privacy of your new home, make this property a truly exceptional place to live.

4186 W Silverdale Road San Tan Valley, AZ 85144

$1,300,000
4 Beds
3.5 Baths
3,602 SqFt
Status Active
MLS # 6752080
Property Type Single Family Residence
Price Type --
Are you tired of cheaply built black-and-white spec homes? Have you been looking for a home built with quality craftsmanship and distinctive style? Your search is over! This property is designed and built by a respected custom home builder as his personal retirement residence. This nearly 3.5 acres of beautiful desert land offers exquisite privacy, incredible views, and enough room for a shop, guest house, barn, you name it. All with animal rights and freedom from HOA hassles. The elegant interior finishes include over 12,000 sqft of beautiful blue pine lumber, cut from northern Arizona pine forests bringing resort-style living into the valley, custom stonework, granite countertops, and much more. The full-length covered patio, porch, and massive 30'X30' garage combine with the spacious home to equal 6,000 sqft under roof. Expertly designed for maximum functionality and efficiency, this home offers ample storage space and no hallways. No detail has been overlooked, and no corners have been cut in this custom four-bedroom, three-and-a-half-bath energy-efficient home. With a 400 amp electrical service, welder-ready connection, and EV charger in the garage, not to mention the R/V hook-up outside, this property checks all the boxes. Endless hiking, biking, and horseback riding are at your fingertips from the Rock Peak Wash Trail-head entrance into the over 10,000-acre San Tan Mountain Park just down the street. Don't delay! You could search the entire Phoenix Valley for years and never find another opportunity like this.

6134 E Quail Track Drive Scottsdale, AZ 85266

$1,300,000
3 Beds
2 Baths
1,559 SqFt
Status Active
MLS # 6757772
Property Type Single Family Residence
Price Type --
The ultimate Horse Lover's Paradise! Unparalleled in design & craftsmanship, this light & bright open floor plan is nestled on almost 1.2 acres. Details throughout this immaculately maintained property exude true pride of ownership with only the finest finishes inside and beautifully landscaped outside. You'll be the envy of ALL your horse friends while kicking back on the patio looking out at the most charming barn/horse set up. This horse lover's dream property comes complete with 155 x 65 arena, tack room, storage & misting system. Don't miss out on this amazing opportunity as this home is waiting for you to come and enjoy all that AZ living has to offer.

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