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

46333 W Abbott Road Wickenburg, AZ 85390

$1,150,000
3 Beds
2 Baths
1,799 SqFt
Status Active
MLS # 6784258
Property Type Single Family Residence
Price Type --
Rare 10 acre turnkey horse property. This gorgeous 3 bed, 2 bath Santa Fe style home is just for you! Discover a spacious semi-open floor plan bathed in natural light & featuring elegant wood-look flooring, soft carpet in all the right places, and neutral palette throughout. The fabulous eat-in kitchen is comprised of espresso cabinetry w/crown moulding, a walk-in pantry, quartz counters, stainless steel appliances, recessed lighting, and a prep island. The primary bedroom showcases a walk-in closet and a full ensuite w/dual vanities & a garden tub. Also sports an expansive backyard w/a covered patio so enjoy a beverage while looking out at your arena, and the covered stalls for the horses! All stalls have lights and auto waters. Plenty of pens, entire property fenced with pipe rail fence The conex box and round pen stay with the ranch. Plenty of room to add more corrals and barns, or even subdivide and add another home. NO floodplain on this property. The great producing well is private and not shared with other properties. You can ride your horses out to state land just minutes from the property. Enjoy the views of the mountains on all sides, and your great neighbors in cowboy country!

3659 E Louise Drive Phoenix, AZ 85050

$1,150,000
5 Beds
4 Baths
4,354 SqFt
Status Active
MLS # 6780864
Property Type Single Family Residence
Price Type --
Discover an incredible value in the highly sought-after N/E Phoenix community of Aviano at Desert Ridge! This upscale, master-planned community offers an unbeatable lifestyle & prime location with quick access to major freeways, top-rated schools, Scottsdale, airports, parks & recreation. Inside, enjoy expansive living spaces perfect for a multi-generational family, with a convenient main-floor bedroom & bath, plus four more bedrooms & three full baths upstairs. Stroll across the street to one of the many parks or take advantage of the world-class community center amenities. Built by Toll Brothers, this home showcases quality, upgraded finishes & has been lightly lived in & impeccably maintained. Don't miss the chance to explore all the premium upgrades in this beautiful spec home!

11270 E Quarry Trail Scottsdale, AZ 85262

$1,150,000
4 Beds
3 Baths
2,938 SqFt
Status Active
MLS # 6780269
Property Type Single Family Residence
Price Type --
Looking for a new home? You've found it! This beautiful 4 bed, 3 bath residence in Troon Verde sits on a quiet cul-de-sac lot & features tasteful tone accents, split 4 car garage w/a stair lift, a low-care desert landscape, and a welcoming front porch. Inside you will find a spacious dining & living area perfect for entertaining. Soft carpet in all the right places, high ceilings, plantation shutters, and warm palette throughout. Continue into the cozy family room, boasting a fireplace to keep you warm during the coming winter months. The chef's kitchen is comprised of wood cabinetry w/crown moulding, a pantry, granite counters, built-in appliances, a prep island w/a breakfast bar, and a breakfast nook. Relax & unwind in the primary bedroom, showcasing private outdoor access, a walk-in closet, and a lavish ensuite w/dual vanities. Lastly, the lovely backyard includes a covered patio, flagstone seating area, a built-in BBQ, and a view fence! Don't wait any longer, act now!

6448 E Slow Cattle Drive Prescott Valley, AZ 86314

$1,150,000
4 Beds
2.5 Baths
2,759 SqFt
Status Active
MLS # 6783368
Property Type Single Family Residence
Price Type --
Welcome to this stunning custom new build by Braden Homes, located in the highly desirable Stoneridge community in Prescott Valley. Designed with luxury and modern living in mind, this spacious home offers the flexibility of four bedrooms or three bedrooms plus a home office, along with 2.5 beautifully appointed bathrooms. The oversized four-car garage provides ample space for vehicles, storage, and hobbies. With panoramic views that can be enjoyed from nearly every room, this home is truly a luxury retreat. Completion is expected within the month, and fresh landscaping will be added in the coming weeks. As a member of the StoneRidge Community, you can enjoy an indoor and outdoor pool, a hot tub, tennis and sports courts, fitness facility, a banquet room and a packed activity calendar!

8921 E Nora Circle Mesa, AZ 85207

$1,150,000
4 Beds
2.5 Baths
2,993 SqFt
Status Active
MLS # 6693228
Property Type Single Family Residence
Price Type --
People come to Arizona looking for its beauty: the desert landscapes, the abundant wildlife, sunsets to inspire the soul, and a beautiful home that fits perfectly into that setting. This home is a wonderful example of that ideal Arizona home. Located in the east valley near the Superstition mountains in a gated and upscale community within East Mesa and near Las Sendas golf course community, this is a fantastic find whether looking for a home to vacation to, move to, retire to, or just escape to. With soaring ceilings, a chef's kitchen, a primary suite to dream of, and that resort-style backyard you've hoped for, this is one not to be missed. New price and seller wants it sold! Located on a full-de-sac street surrounded by stunning homes in a fantastic neighborhood, this home welcomes all. The large living area greets you upon entrance and immediately shares a spectacular view of the backyard. The formal dining area, currently featuring a piano and large wine fridge, is a wonderful hosting space to keep as is or reimagine. The kitchen is the showpiece of this home with its 6-burner cooktop, cafe-style fridge, beautiful cabinetry, granite countertops, and much more. The first guest bedroom opens to a private lanai, while the other guest bedroom and den (formerly the 4th bedroom) are perfect for visiting company, a home office, kid's rooms, or much more. The split floor plan features a primary suite with its own living space and spacious bathroom to add to the scale of the home. A large walk-in closet, separate shower, and soaking tub complete the reward for the owners. A 3-car garage which is always in demand features ample storage, a workbench, and pull-down attic access for additional space. And then there's that backyard...Wow. With separate grill, bar seating (complete with beverage fridge), retractable awning, patio, fire pit, and salt-water pool all in a serene desert setting, you have one of the types of homes you've been searching for. Moments from the lakes, rivers, mountains, hikes, and beauty that is Arizona, this is a home that would cost twice as much in Scottsdale, Cave Creek, or other outlying areas. And only minutes to Sky Harbor, it's certainly a location that those who have found appreciate and share only with those in the know.

2835 W Creek Canyon Road Phoenix, AZ 85086

$1,150,000
4 Beds
3.5 Baths
3,328 SqFt
Status Active Under Contract
MLS # 6761620
Property Type Single Family Residence
Price Type --
**Discover this Elegant Territorial Home with Breathtaking Mountain Views**Experience resort-style living in this stunning home, featuring a backyard oasis complete with a sparkling pool, raised jacuzzi, tumbled stone decking, built-in barbecue, and a flagstone firepit. As you enter, you'll be greeted by soaring ceilings and a circular family room that centers around a striking stacked stone fireplace and custom decor shelves, all while showcasing views of your private paradise. The wet bar is perfect for entertaining guests.The gourmet kitchen boasts top-of-the-line cabinetry, a Wolf 6-burner gas cooktop, Viking wall ovens, a spacious raised island with seating, a large pantry, and upgraded granite countertops. Retreat to the master suite, which includes a cozy fireplace, a jetted garden tub, a luxurious stone snail shower, double vanities, and a custom closet. There is additional space off the master could be sitting area or home office. One additional bedroom is en-suite, while two others share a convenient Jack and Jill bath. Each secondary bedroom has its own wing and walk-in closet, ensuring privacy and comfort for all. Custom features, including ornate wet bar cabinetry, a stacked stone media wall, vega poles, central vacuum, and beautiful windows, elevate this home above the rest. The backyard fireplace, crafted from stacked stone, includes a built-in seating area, making it the ideal spot for relaxation. Set on a generous acre lot, this home offers both privacy and views. The paver driveway leads to a spacious 4-car garage. Immaculately maintained, this property is a true gem waiting for you to make it home.

6814 E Osborn Road Scottsdale, AZ 85251

$1,150,000
3 Beds
2 Baths
1,635 SqFt
Status Active
MLS # 6786803
Property Type Single Family Residence
Price Type --
Check out this beautiful home with a resort style back yard! A few of the great features are plank European oak wood flooring throughout, stainless Frigidaire Pro kitchen appliances, Trane 14 SEER split AC units, high efficiency dual pane Anderson windows and spray foam insulation throughout, tankless gas water heater, designer tile bathrooms, designer Phylrich and Moen matte black fixtures, quartz countertops, vaulted ceilings, custom steel gates...and the back yard! A thoughtful design making this outdoor living area one where you won't want to leave. Two gas fire places/pits, barbecue area, putting green, gas heated pool and spa, outdoor dining area...you need to check it out! Located in the heart of Old Town Scottsdale and close to everything! Makes a great home or short term rental.

6525 E Cave Creek Road Unit 6 Cave Creek, AZ 85331

$1,150,000
2 Beds
3 Baths
2,078 SqFt
Status Active
MLS # 6774805
Property Type Single Family Residence
Price Type --
Discover the epitome of luxury living in this esteemed Hidden Rock community, nestled beneath the picturesque Black Mountain. This home designed and built by acclaimed architect Shawn Kaffer, is more than a residence, it's a work of art. This impeccable, move-in-ready home offers a seamless blend of elegance in a thoughtfully designed open floor plan accentuated by 20' soaring ceilings. Boasting two generously sized bedrooms, each capable of serving as a the primary suite, providing both flexibility and privacy. The state-of-the-art kitchen is a chef's dream, featuring sleek dark cabinetry & light quartz countertops for a stunning contrast. Top-notch stainless steel appliances, including a professional-grade gas range, ensure a superior cooking experience. The spacious waterfall island with bar seating offers both functionality and a great gathering space. With its open layout and modern design ,this kitchen is perfect for crafting gourmet meals and hosting delightful gatherings. Constructed with superior energy efficiency in mind, it features remarkably insulated 8-inch thick walls (R40) and 12-inch thick ceilings (R60), showcasing the finest in desert home engineering. Sophisticated, newly updated high-end finishes grace every corner. Additionally, a two-car garage adds to the home's practical offerings. Located just minutes from the vibrant shops and restaurants of Cave Creek, this home perfectly marries comfort with opulence in an unparalleled setting. Experience this exceptional property and its inviting surroundings firsthand. Visit today and be prepared to be thoroughly impressed!

4135 E Glenrosa Avenue Phoenix, AZ 85018

$1,150,000
3 Beds
2 Baths
1,511 SqFt
Status Active Under Contract
MLS # 6768902
Property Type Single Family Residence
Price Type --
A beautiful re-envisioned home for design minded buyers in a very sought after section of Arcadia Lite. Three bedroom, two baths with a separate casita with 3/4 bath. New floors and kitchen with new wolf range and paneled Sub Zero refrigerator, marble countertops and new cabinets. New upgrades in both bathrooms. Wall of windows with custom drapes in living room and dining room. Landscaping by TrueForm. Backyard oasis with pool, as well as a casita that can be used as an office or guest house. There is also a separate matching structure currently used as storage. Close to all that Arcadia has to offer. Walking distance to LGO, Postino's, Kachina park and nearby canal access for walks or bicycling.

1236 E Mclellan Boulevard Phoenix, AZ 85014

$1,150,000
3 Beds
3 Baths
2,803 SqFt
Status Active
MLS # 6738763
Property Type Single Family Residence
Price Type --
BEAUTIFULLY REMODELED! Nestled on one of the biggest lots on the street, this gorgeous residence tastefully blends classic charm and modern amenities. Attention to detail is evident with recent upgrades, including NEW elegant light fixtures, wood-look tile flooring, recessed lighting, fresh neutral paint, & ceiling fans. Featuring a spacious great room and a large family room w/ custom French doors to the back, The renewed gourmet kitchen offers high-end appliances w/wine fridge, two-tone shaker cabinetry, quartz counters, designer tile backsplash, and a huge waterfall island w/breakfast bar. Plus a spacious casita in the backyard! Every aspect of this property has been fully upgraded, truly one of a kind. For added convenience, this gem comes with an attached 1-car garage and RV gate & parking. If entertaining is on your mind, the backyard awaits! With multiple seating areas & a private pool, this space promises year-round enjoyment. Excellent location close to schools, shopping, dining options, and freeways. Don't miss this opportunity!

8502 E Cave Creek Road Unit 39 Carefree, AZ 85377

$1,150,000
2 Beds
2 Baths
1,903 SqFt
Status Active
MLS # 6779829
Property Type Townhouse
Price Type --
REMODELED TO PERFECTION! HIGH END FINISHES ; TIMELESS ARCHITECTURE ~ THIS IS AN EXTREMELY UNIQUE TOWNHOME IN GATED SKYRANCH COMMUNITY! IT IS ALL ONE LEVEL! 2 BD/2BA/2CG - 1900 SFT~ ON LG VIEW LOT!SOARING CEILINGS! TONS OF NATURAL LIGHT! CLERESTORY WINDOWS! OUTSTANDING GREATRM W/STACKED STONE ;GAS FIREPLACE!GORGEOUS VIEWS!! LG PRIMARY W/LG WALKIN SHOWER;DOUBLE SINKS;2 LED MIRRORS;CUSTOM CLOSET. GORGEOUS VIEWS! LOVELY GUEST BR W/PATIO; HALL BATH W/SHOWER.KITCHEN W/BOSCH STAINLESS APPLIANCES; GAS COOKTOP!QUARTZ COUNTERS;ALDER CABINETRY!CUSTOM LIGHTING; CEILING FANS & PORCELAIN WOOD PLANK FLOORS THROUGHOUT. MATURE DESERT LANDSCAPING~ 3 INVITING PATIOS, PERFECT FOR ENTERTAINING !ONE XTRA LG~ W/PAVERS & MNT VIEWS. COMMUNITY OFFERS HEATED POOL/SPA; DOG PARK;TENNIS COURTS .

13626 N Tan Tara Point Sun City, AZ 85351

$1,150,000
5 Beds
6 Baths
3,693 SqFt
Status Active
MLS # 6785616
Property Type Single Family Residence
Price Type --
BEAUTIFUL UPDATED LAKEFRONT HOME, PRIVATE HEATED POOL, PAID FOR SOLAR SYSTEM, NEW BOAT DOCK, 3 NEW AC HEAT PUMPS WITH 10 YEAR WARRANTY, NEW KITCHEN AND 6 BATHS, ROLL SHUTTERS ON MOST WINDOWS, ALL FLOORS ARE HIGH GRADE MARBLE LOOK PORCELAIN NO CARPET, QUITE SAFE CUL-DE-SAC LOT,2 CAR GARAGE WITH STORAGE, FRESH PAINT, SKY LIGHTS, SUNSET VIEWS, THE LAKE IS CRYSTAL CLEAR AFTER UNDERGOING AN EXTENSIVE UPDATE.

Leave a Reply

Your email address will not be published.