58% of Homeowners See a Drop in Home Values Coming

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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10455 E Sheena Drive Scottsdale, AZ 85255

$1,135,000

4 Beds

2 Baths

2,294 SqFt

Status Active

MLS # 6776856

Property Type Single Family Residence

Price Type --

This stunning McDowell Mountain Ranch property offers a perfect blend of luxury and comfort, featuring 4 spacious bedrooms and 2 modern bathrooms. The open-concept floor plan is designed for both relaxation and entertaining, highlighted by a beautiful kitchen and inviting living areas filled with natural light. Step outside to your private backyard oasis, complete with sparkling pool and spa, barbeque, and fireplace perfect for enjoying the Arizona sunshine. Located in a desirable gated neighborhood, you'll have easy access to top-rated schools, shopping, dining, and outdoor activities. Don't miss the chance to make this exceptional home yours.

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5672 W Bruno Canyon Drive Prescott, AZ 86305

$1,129,000

3 Beds

2 Baths

2,024 SqFt

Status Active

MLS # 6758560

Property Type Single Family Residence

Price Type --

GOLF COURSE LIVING! Very unique location offering spectacular golf course views. 3 bedroom 2 bath home with spacious direct entry two car garage. Beautifully landscaped property with fully fenced in back yard is perfect for outdoor entertaining. Inside you'll find upgrades throughout including modern fixtures, premium finishes and upgraded appliances. Experience luxury living with this open floor plan that provides plenty of natural light. Don't miss the opportunity to own this stunning move-in ready home. Talking Rock is a gated private community for members only. Amenities include: award winning Jay Morrish designed Golf Course, The Ranch House restaurant and bar, Coop's Coffee House, fitness center, bocce, pickle ball courts, tennis court, pool and dog park.

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12628 N 2nd Street Phoenix, AZ 85022

$1,129,000

4 Beds

3 Baths

3,164 SqFt

Status Active

MLS # 6688012

Property Type Single Family Residence

Price Type --

Mountains everywhere! This is it! One-of-a-kind huge lot backing to preserve! This amazing & updated home is very special! Owners remodeled & expanded the Family Room/Kitchen for an open concept! A true Gourmet kitchen w/the perfect Mega 12' Island! This property is an Entertainer's delight w/lots of indoor and outdoor spaces. 4 bedrooms & ensuite den for the perfect at home/work/zoom space. Huge Split Primary Ensuite. Bathroom w/spa features: Elegant shower & soaking tub w/jets and therapy bubbles! Formal living room as well for extra living space. True Arizona landscape w/natural desert, trees, garden, paths, ramada, firepit, patios, & space for a pool! Your own gate to the preserve! Lots of trails! Near Gold Key Racquet Club & Moon Valley CC nearby! Located in North Mountain area.

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22855 E Twilight Drive Queen Creek, AZ 85142

$1,129,000

4 Beds

3.5 Baths

3,796 SqFt

Status Active

MLS # 6752504

Property Type Single Family Residence

Price Type --

EXQUISITE LUXURY ESTATE! This coveted David Weekley Tranquility floorplan offers 3796 sq ft of single level luxury living that extends to a backyard retreat including a NEWLY built custom pool. This home offers 4 bedrooms plus den & hobby room, 3.5 baths & 3 car garage! Upon entry you will immediately sense the spaciousness & open concept floorplan with soaring ceilings, attention to detail, & custom lighting throughout. The designer kitchen offers 2 toned shaker cabinets that run floor to ceiling, quartz countertops, large island, & perfectly positioned butlers pantry. The primary retreat offers a large bath with a soaking tub, large walk in shower & 2 large walk-in closets with the laundry room conveniently attached! Every inch of this home is masterfully planned & beautifully designed!

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6429 E Eugie Terrace Scottsdale, AZ 85254

$1,129,000

3 Beds

2 Baths

1,945 SqFt

Status Active

MLS # 6781534

Property Type Single Family Residence

Price Type --

Top to bottom remodel in Scottsdale's most desirable zip code of 85254. Redesigned and renovated throughout with a gourmet kitchen, quartz counters with complimenting tile splash, shaker cabinetry, oversized island with a waterfall finish, complete stainless steel appliance package, and a full-length coffee bar. The master suite features a walk-in closet, custom bathroom with a walk-in shower, tile shower surrounds, & new dual vanity. Don't miss the big tickets items including new windows, spray foam insulation within the exterior walls and ceiling for increased energy efficiency, full length covered patio, fresh front & rear landscape, extended height block fencing for increased privacy, & RV gate for additional parking. Home is located near top-rated schools and extensive options for entertainment, restaurants, and shopping. Desert Ridge is 10 minutes north while Kierland & The Quarter are quick trip east. Close to the 51 and 101 freeways providing easy access throughout the Valley.

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4208 E Via Dona Road Cave Creek, AZ 85331

$1,126,595

3 Beds

3.5 Baths

3,050 SqFt

Status Active

MLS # 6745294

Property Type Single Family Residence

Price Type --

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36382 N 35th Street Cave Creek, AZ 85331

$1,125,000

5 Beds

3 Baths

3,128 SqFt

Status Active

MLS # 6769458

Property Type Single Family Residence

Price Type --

Modern Rustic Custom Home sitting large on 1.5+ acre horse privileged lot surrounded by panoramic mountain views! Majestic beauty, western ambiance, privacy, & free from HOA! Meticulously maintained home through pride of ownership w/updates made each year. 4 bdrm, 3 bath, PLUS Office w/glass door entry, Game/Bonus room w/wet bar & French doors to cov'd patio, & Flex Room w/closet offering so many uses...as another bdrm, multi-gen living, rental, homeschool, fitness center... the choice is yours! Popular white cabinets in kitchen, granite c-tops, bar seating & eat-in nook. Formal dining room & cozy family room w/fireplace. Stunning resort-caliber lot w/Baja pool, manicured grassy area, gazebo, fencing, RV Gate & Parking, low maintenance landscape & land left over to add your toys & dreams! The oversized backyard has a grassy area, a lovely gazebo, a covered patio, mature trees, a storage shed, a fenced pool with a boulder waterfall, a built-in BBQ, and amazing sunset views. Plus, there is a dirt-fenced area and extra land space for all your animals to frolic in the field or gardening area. See it, love it, live it!

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4055 N Recker Road Unit 29 Mesa, AZ 85215

$1,125,000

4 Beds

3 Baths

3,190 SqFt

Status Active

MLS # 6776140

Property Type Single Family Residence

Price Type --

WELCOME HOME! This custom single-story home w/breathtaking mountain views, nestled in the exclusive gated community of Red Mountain Ranch's Country Club Estates. Crafted for those who value lifestyle, luxury, & stunning scenery, this 4-B, 3BA residence has it all for both relaxation & entertaining. Two of the spacious primary suites, each w/its own ensuite bathroom. All of the bedrooms have a walk-in closet. The open floor plan flows effortlessly, featuring a den perfect for a music room, a formal dining area, & a gourmet kitchen that blends seamlessly w/the welcoming family room. Outside, you'll find an entertainer's paradise, complete w/a built-in BBQ, putting green, sparkling pool, & lush lawn, all framed by scenic golf course & majestic mountain views.

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3902 E Alameda Lane Gilbert, AZ 85298

$1,125,000

4 Beds

3.5 Baths

2,897 SqFt

Status Active

MLS # 6777951

Property Type Single Family Residence

Price Type --

Discover the perfect blend of modern luxury and comfort in this stunning residence. As you step through the inviting entrance, you're welcomed into a spacious open-concept living area that exudes warmth and style, highlighted by expansive windows and plantation shutters for privacy. The gourmet kitchen is a chef's dream, featuring top-of-the-line stainless steel appliances, a grand island with a breakfast bar, and custom cabinetry. Whether hosting dinner parties or enjoying casual meals, the adjacent breakfast nook and formal dining area cater to every occasion. Retreat to the primary suite, a serene haven filled with natural light, high ceilings, and large windows. The spa-like en-suite bathroom boasts a glass-enclosed shower and dual vanities, while the expansive walk-in closet provides ample storage. The great room offers seamless indoor-outdoor living with double slider doors that open to an extended covered patio, perfect for entertaining or quiet evenings. In addition to the luxurious primary suite, you'll find generously sized secondary bedrooms, each with large closets and access to beautifully appointed bathrooms. The low-maintenance backyard oasis features artificial turf and no rear neighbors, creating a private setting for relaxation. This home includes a spacious three-car garage with custom epoxy flooring. Situated in the coveted Seville Golf & Country Club community, enjoy access to world-class amenities, including a golf course, clubhouse, fitness center, and resort-style pools. With shopping, dining, and top-rated schools just minutes away, this property is a true gem in the heart of Gilbert

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6525 E Cave Creek Road Unit 15 Cave Creek, AZ 85331

$1,125,000

2 Beds

2.5 Baths

2,078 SqFt

Status Active

MLS # 6783182

Property Type Single Family Residence

Price Type --

Designed by renowned modern architect Shawn Kaffer, Cave Creek now has it's first modern community, This home is constructed with an innovated method utilizing insulated concrete (GFRC) providing high R values not found in stick-built homes. Stay cool, and quiet and enjoy low energy bills. Luxurious Great Room and Kitchen with 14' to 17' ceilings, two master bedrooms and baths, large Den/Office and powder room. All commercial grade windows and doors with a 10' fiberglass door at the entry and 10' glass doors to the back patio. Enjoy all seasons on the sun and shade patio with built in BBQ island, gas firepit, and grassy sitting area under the trees. Surrounded by hiking and biking trails all within minutes of the home. Walk to some of the best restaurants in Cave Creek. Exterior walls and ceilings are constructed from high density foam and coated inside and out with GFRC for strength and rigidity. This method provides R values not found in stick-built homes. The walls are R-40 and the ceilings are R-60. This combined with Low E commercial glass windows and doors provides a very high energy efficient dwelling.

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37313 N 15th Avenue Phoenix, AZ 85086

$1,125,000

4 Beds

4 Baths

2,799 SqFt

Status Active Under Contract

MLS # 6785552

Property Type Single Family Residence

Price Type --

Step into the heart of Desert Hills and discover a home that's as vibrant as the sunsets that light up the Arizona sky. This property perfectly combines rustic charm with modern comfort. From the moment you walk in, you'll be greeted by an open floor plan designed for easy living and entertaining. This 4-bedroom, 4-bathroom home spans a spacious 2,799 square feet, offering room for everyone. With stylish finishes and natural light pouring through every room, it's a haven for both relaxation and entertaining. The kitchen is a chef's dream, featuring top-notch appliances and plenty of counter space to whip up your favorite meals. Set on 2.28 flat and fully usable acres, the possibilities for outdoor living are endless. Whether you envision an arena for your horses, a pool, or simply an expansive retreat to enjoy the serene desert landscape, this property has room for it all. Special features include: - A 3-car garage with oversized 10-foot garage door perfect for your vehicles and toys. - A water softener system for ultimate convenience. - A shared well with a 2,500-gallon storage tank, ensuring a reliable water supply. - A generator that remains with the property, adding peace of mind for any power needs. The unique Mexicana Rose furniture adds a pop of personality to the home's aesthetic and can be yours through a separate bill of sale! It's the perfect way to keep the home's distinctive charm intact. Don't miss the opportunity to own this slice of North Phoenix paradise.

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8335 E Montecito Avenue Scottsdale, AZ 85251

$1,125,000

3 Beds

3 Baths

2,558 SqFt

Status Active

MLS # 6777531

Property Type Single Family Residence

Price Type --

Completely remodeled home in a quiet neighborhood yet so close to all that Old Town Scottsdale has to offer! Need a guest suite, adult children or aging parents moving in with you? This home has a perfect attached casita that can function as a separate casita or be part of your living area if you prefer! It has a kitchenette, living space and then bedroom w/ bath. Currently, owners use as guest room, office and game area. Open concept floorplan w/ gourmet kitchen boasting a 6 FT Brazilian Quartz wrapped Island/breakfast bar w/ designer cabinets and separate beverage center, SS appliances & range hood, Escape to oversized primary retreat w/ dream walk in closet and spa like bath w/ walk in tiled shower, dbl vanity. 2 sliders off the dining area leads to low maintenance backyard. 2 c ar garage w/ epoxy floor and extra parking space in driveway, too. Water softner and RO included as well as washer/dryer. Home shows like a model home, definitely move in ready!!! Enjoy the fabulous location, walking distance to the 11 mile greenbelt with walking trails, parks, athletic fields, 9 hole golf course, tennis and basketball courts and more! How about taking in a Spring Training game at the nearby Giants stadium? Old Town Scottsdale is famous for its restaurants, shopping experience and night life! This is more than a home, it is a lifestyle!!!

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