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.

What’s Your Home Worth?

Search for Your New Home

15772 E Tumbleweed Drive Fountain Hills, AZ 85268

$1,280,000
5 Beds
3.5 Baths
3,000 SqFt
Status Active
MLS # 6767181
Property Type Single Family Residence
Price Type --
Stunning Mountain Views!! This incredible single level 5 bedroom, 3.5 bath redesigned home is truly one of a kind. Its a perfect split floor plan and checks off all the major boxes. Plenty of natural light. This professionally designed home will give you the feeling you are walking into a magazine cover vacation home. A perfect blend and use of textures. The kitchen features a large custom blue island topped with a stunning brushed natural stone top that changes coloring in the light. It also boasts two sinks for those busy chef days. The back white shaker cabinets offer over sized 42'' uppers , soft close hardware and set above a stunning marble full back splash. All new stainless appliances with the always desired pot filler above the cooktop. The bar prep area makes its own statement. Features include a built in microwave drawer as well a custom cabinetry, wall paper and lighting. The main living space is centered on a floor to ceiling fireplace, luxury vinyl plank flooring and a wall to wall custom beam with one of the largest ceiling fans you will ever see. Primary suite is massive and features a real working fireplace and its own separate sitting room that could also be used as a private office or den. The primary bath suite is a European style wet room. Large walk in shower, soaking tub, floating vanity and a LED mirror all conveniently located next to the large walk in closet. Each of the other 3 bathrooms are individualized so that they make their own statement. One of the bedrooms even has a fun loft. Great chill space to read a book. The garage is an oversized 3 car design with a ton of room for extra storage. The laundry has a large amount of storage with its custom cabinetry. Exterior notes- there is a pool designed for the home with a pool contractor ready to build if so desired. The home was professionally painted, a brand new paver driveway and walkway were just added, new custom garage doors , lighting, reclaimed wood ceiling, all new rock hardscape, waterless plant design, a built in BBQ eat in area, fire pit and plenty of room to add more outdoor entertainment. You will not find another home as unique and amazingly functional as this one. No HOA

5830 E Sierra Sunset Trail Cave Creek, AZ 85331

$1,280,000
4 Beds
3 Baths
3,036 SqFt
Status Active Under Contract
MLS # 6712582
Property Type Single Family Residence
Price Type --
Stunning Torrey Pines model in beautiful Lone Mountain is nicely upgraded throughout with custom finishes. Designed for views & privacy, the backyard opens to a lush wash & Black Mtn views featuring a spacious travertine paver patio, sparkling pool w/water falls, built in BBQ, and artificial turf. The interior features tile plank floors & timeless neutral tile in the main living areas, new carpet in the bedrooms, shutters throughout, & custom cabinets in the family room. The open kitchen features GE Monogram stainless appliances, including a 48'' gas range w/griddle, granite countertops, beverage fridge at the large island & dining nook. The formal dining & living room offer ample entertaining space that flows to the large shaded patio. The master is split from the 3 BR/2 BA guest wing.

7813 N Via Del Sol -- Scottsdale, AZ 85258

$1,280,000 - 2Br/2Ba -  for Sale in Paseo Village Amd, Scottsdale
Open House
$1,280,000
2 Beds
2 Baths
2,229 SqFt
Status Active
MLS # 6729199
Property Type Single Family Residence
Price Type --
This private retreat in the heart of McCormick Ranch that was voted ''Best Home on Tour'' really delivers.You will not want to miss the opportunity to see why this home won and how you can win with it too. Location & Style with amazing upgrades makes this beautifully maintained home capture your heart. The 3rd bedroom was converted to the new primary closet (it can always be undone if a 3rd bdrm is needed). Outdoor living with new Bullfrog spa, sparkling pool, built in BBQ, patios from primary & Family room, retractable awning and mature trees has loads of character and class. Office/den area can easily be used as a 3rd bedroom also. This can easily be your forever home or a Great Investment property. Come fall in love! Motivated Sellers

36709 N Stoneware Drive San Tan Valley, AZ 85140

$1,280,000 - 3Br/3Ba -  for Sale in Encanterra, San Tan Valley
Open House
$1,280,000
3 Beds
2.5 Baths
2,731 SqFt
Status Active
MLS # 6763814
Property Type Single Family Residence
Price Type --
You'll feel like home the moment you step into this beautiful Encanterra home. This Alora Plan is perfectly situated on the 16th tee with no fences or block walls to restrict your beautiful golf course, water, and Superstition Mountain views. Sit in the morning room to start your day or step out onto the travertine patio and enjoy the serenity of your surroundings as you watch the sunrise, or sip wine in the evening watching the mountains change in the reflective colors of the sunset. Desirable north south exposure allows you just the right amount of sun or shade along with your large front courtyard. Inside you'll find an amazing open floor plan with plenty of space to entertain or enjoy in your own way. The chef's kitchen is well appointed with high-end appliances, oversized island, granite counter, and cupboard space galore. Plenty of lighting including adjustable over-under cabinet and island lighting for just the right touch and mood. The smart room laundry area is well situated providing extra office, studio, or hobby space to enjoy. Every exquisite detail was carefully considered from crown molding, plantation shutters and upgraded tile throughout. If you're not ready to downsize quite yet or you need a little more elbow room, the 3 bedrooms plus a den will be perfect for you. The master suite with tray ceiling, expansive ensuite and walk-in closet gives you the space and privacy you desire, while guests can enjoy 2 large bedrooms and bathroom. No need to worry about parking or storage for all your toys as you have a 3-car garage with new epoxy flooring with built in cabinets. This home is just a short distance from La Casa and Algarve where you'll find resort style first-class amenities to enjoy including four pools, fitness center, pro shop, boutique, spa, restaurants, bars, pickleball, bocce ball, tennis, art studio and so much more. Abundant walking paths are found throughout the entire community. If you like convenience, you'll love being surrounded by all the shopping, dining, recreation, and entertainment that Queen Creek and San Tan Valley area has to offer. Come see for yourself why it's more than an incredible lifestyle that awaits you here at Encanterra.

4410 E Robin Lane Phoenix, AZ 85050

$1,279,900
3 Beds
3.5 Baths
2,984 SqFt
Status Active
MLS # 6763721
Property Type Single Family Residence
Price Type --
Welcome Home! This single-story gem is located a stone's throw from the A+ rated Desert Trail Elementary School & is surrounded by award-winning parks & lit walking trails. This Desert Ridge residence features an award-winning floor plan and has fantastic curb appeal, a professionally-designed backyard, including stacked stone walls that gives the home a resort-like feel. Gourmet kitchen w/ a walk-in pantry & a large island w/ an enormous amount of storage space with 32 cabinets. Buffet area allows for easy handling of large social events. Add the matching KitchenAid appliance package and a convenient R/O system and you have a dream kitchen. Close to Desert Ridge Marketplace, Loop 101, SR51 and I-17 freeways, hospitals, JW Marriott Desert Ridge, Wildfire Golf Club and more! The master bath is complete with 2 sinks, soaker tub and travertine shower and a huge master walk-in closet as well with plenty of hanger space. The 2 split bedrooms are over-sized and share a Jack and Jill bathroom. The hallway leading to the two bedrooms has a separate full bathroom that allows for being able to handle a high demand for family and guests. There is also a handy powder room located conveniently near the front entry. The dining room is complete with pillars and 12-foot ceilings that open to the living room. The backyard has your own resort feel. The play pool features a pebble-sheen finish and variable pump for easy and affordable care. A large grassy area, mature citrus trees, travertine pavers, convenient walkways and an entertainment area with a built-in bar-b-que really can turn the backyard into a true home vacation getaway. There is a dog run and a roomy Tuff-shed storage unit as well. The large 3-car garage has top of the line built-in cabinets for plenty of storage space and easy access to your water softener. Close to Desert Ridge Marketplace, loop 101, 51 and I-17 freeways, hospitals, JW Marriott Desert Ridge, Wildfire Golf Club and more.

28223 N 153rd Street Scottsdale, AZ 85262

$1,279,000
4 Beds
3.5 Baths
4,556 SqFt
Status Active
MLS # 6688578
Property Type Single Family Residence
Price Type --
Gorgeous home in a gated community with no HOA dues, with beautiful views of Four Peaks. 4 bedrooms plus a wood floor office, 3.5 bath, 4 car garage. 1 acre lot. Top of the line kitchen with Thermador appliances, dual range with a gas cook top and electric ovens. There are travertine floors and granite countertops throughout. This property has a shared well. No need for hauled water. You won't want to miss out on this custom built home!

41633 N Bent Creek Court Anthem, AZ 85086

$1,278,900
4 Beds
2.5 Baths
3,437 SqFt
Status Active
MLS # 6763707
Property Type Single Family Residence
Price Type --
This thorough & meticulous update will leave you speechless. Just send the invites... You'll want friends + family to enjoy this comfortable yet spectacular home. Backyard is perfect for a lively party or intimate gathering. The dramatic pool w/ multiple water features terminates at a swim-up bar with a sunken kitchen enveloped by a show-stopping rain waterfall. All expected conveniences are at hand, so you may need to reconfigure your lifestyle to spend more time right here! Mountain views with no homes facing, behind or to one side. Inside, almost nothing has been left undone: Floors, kitchen, baths, paint, HVAC, plumbing, fireplaces, fixtures, hardware... All with casual elegance, timeless style & eye toward long-lasting convenience & comfort. A MUST-SEE!

3947 E Crest Lane Lane Phoenix, AZ 85050

$1,278,880
4 Beds
3.5 Baths
3,538 SqFt
Status Active Under Contract
MLS # 6763656
Property Type Single Family Residence
Price Type --
Welcome to your dream home in Aviano at Desert Ridge! This vibrant community offers walking trails, a resort-style pool, tennis courts, state-of-the-art workout facilities, a business center, and activities for all ages. This beautifully remodeled 4-bedroom, 3.5-bath home with 2 bonus rooms features stunning contemporary finishes. The heart of the home is the open-concept kitchen, complete with a custom quartzite waterfall island and brand-new Wolf appliances, including a gas range. Step outside to your private oasis, where you can unwind by the pool with a newly tiled water feature and gas fire pit. The luxurious primary suite offers a serene sitting area and a spa-like bath with a soaking tub. With a prime location and a 3-car garage, this home has it all!

300 W Quartz Rock Road Phoenix, AZ 85085

$1,277,777
4 Beds
3.5 Baths
3,200 SqFt
Status Active
MLS # 6785209
Property Type Single Family Residence
Price Type --
MODEL HOME is AVAILABLE and is MOVE-IN READY (model home is located at 103 East Quartz Rock Road, 3 blocks to the east of this property). NEW HOMES ON ACRE+ LOTS with Mountain Views in a quiet neighborhood, yet just minutes from every possible amenity. Model Home & other lots are available in this same neighborhood, all on Acre+ lots ... SEE LISTER / BUILDER FOR DETAILS. List price includes standard exterior elevation, standard finishes, and allowances for utilities and site-work. Photos are of the available model home with upgraded finishes and exterior.

5671 N 208th Lane Buckeye, AZ 85396

$1,275,074
3 Beds
3.5 Baths
3,381 SqFt
Status Active
MLS # 6779831
Property Type Single Family Residence
Price Type --
This home offers a large private homesite with mountain views from your private backyard. There is a 16' sliding glass door at the family room to the outdoor living space. There is also a private interior courtyard bringing additional natural light into the home. The kitchen island is huge and perfect for entertaining or cooking for the holidays. The family room, kitchen and owner's retreat all have gorgeous tray ceilings. This home has it all. 2X6 CONSTRUCTION; EXTENSIVE NEW HOME WARRANTY; See you soon

43909 W Us-60 Highway Wickenburg, AZ 85390

$1,275,000
3 Beds
2 Baths
1,152 SqFt
Status Active
MLS # 6725364
Property Type Manufactured Home
Price Type --
PRICE IMPROVEMENT!! Set back right off HW60 with your own private road leading to a meticulously maintained 3-bedroom, 2-bathroom home. Featuring covered porches located on opposite sides of the home, perfect for relaxation and enjoyment of the serene surroundings no matter what time of day. Live in the home permanently, or just while you build your dream home and then have the opportunity to turn it into income property! No matter if you aspire to immerse yourself in ranch life or seek the perfect horse property with ample space and privacy, this property promises the perfect blend of functionality and comfort. With opportunities to indulge in the incredible lifestyle of ranch living with this property boasting custom-built barns, outbuildings, and expansive space tailored for horses and cattle. Nestled within stunning surroundings, the property borders state land on the South and West sides and provides your own private access. The outbuildings are one of a kind, and meticulously crafted by the original and only past owners. Along with the custom brick enclosed grill, 2 smoker pits or use them for delicious dutch oven cooking, creative tack room, loading chute and all the other features that truly make this property unique and special. You will never have an opportunity to own another home like this one. With your own private well and just over 19 flat, fully fenced and flood zone free acres the possibilities are endless. The property is also split into two parcels for additional options and opportunities. Seller is also open to selling parcels separately. Seize the rare opportunity to call this stunning property HOME!

2526 W Fernwood Drive Phoenix, AZ 85086

$1,275,000
4 Beds
3.5 Baths
2,810 SqFt
Status Active
MLS # 6758171
Property Type Single Family Residence
Price Type --
This stunning new construction spec house offers modern luxury and spacious living on a sprawling flat acre lot. Boasting 2810 square feet of carefully crafted open-concept living space, this home features a desirable split floor plan with 4 bedrooms and 3.5 bathrooms, providing ample space and privacy for the entire family. The heart of the home is the beautifully designed kitchen, perfect for entertaining and everyday living. The expansive living area seamlessly flows from the kitchen, creating a warm and inviting atmosphere for gatherings. In addition to the generous living space, this property comes with a rare and highly sought-after feature - a 4-car garage with an attached RV garage. Whether you're a car enthusiast or an avid traveler, this space offers the flexibility... and convenience you need. Outside, the vast acre lot provides plenty of room for outdoor activities, gardening, or even the possibility of adding a pool or guest house in the future. Located in a desirable area, this home offers the perfect combination of tranquility and convenience. Don't miss the opportunity to make this exceptional property your own. This home is ready for occupancy, come experience the luxury and comfort this home has to offer! Note, Photos are of same model home, previously completed.

Leave a Reply

Your email address will not be published.