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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10040 E Happy Valley Road Unit 676 Scottsdale, AZ 85255

$3,975,000
5 Beds
5.5 Baths
4,445 SqFt
Status Active
MLS # 6654478
Property Type Single Family Residence
Price Type --
Embrace elegance on the 17th fairway of the renowned Desert Highlands Golf Course. Enjoy immediate access to FULL CLUB Privileges in this 5 bed/5.5 jewel box home designed by Allen Tafoya, in built by Rick Merritt-built 5 bed/5.5 with interiors by Billi Springer. This old-world inspired home features an open floor plan, blending exquisite finishes with functional luxury. The expansive layout includes a grand master suite, a dedicated exercise room, and a versatile upstairs office. Every space is crafted with precision, harmonizing indoor comfort with serene golf course views. Experience sophistication in this stunning home, where lifestyle, luxury, and exquisite craftsmanship meet. The upstairs Study has outstanding city light views. The main level frames Pinnacle Peak.

9015 E Los Gatos Drive Scottsdale, AZ 85255

$3,975,000
3 Beds
3.5 Baths
3,849 SqFt
Status Active
MLS # 6751566
Property Type Single Family Residence
Price Type --
Just Completed! Exquisite Luxury Modern-Spanish Masterpiece located in the best pocket of N. Scottsdale and ready for executive entertaining. Entry through the vintage gated courtyard and calmed by the serene water fountain that leads you through the custom arched glass doors. The high ceilings will draw your eyes to the stunning resort-like yard with new custom pool and spa off the massive patio. The chefs kitchen offers two oversized Islands, dual wine refrig, plus a butlers pantry that is so divine, you must see for yourself! Private master retreat with city lights, mtn views and unforgettable sunsets from your private balcony. Add'l bedrooms all en-suites w/ private entry and views everywhere. This estate home would be perfect for year around or a lock and leave.

3955 E Sierra Vista Drive Paradise Valley, AZ 85253

$3,962,456
4 Beds
4.5 Baths
3,820 SqFt
Status Active
MLS # 6728696
Property Type Single Family Residence
Price Type --
This is the last remaining New Home under construction by Cullum Homes in the community of Paradise Reserve. This contemporary Santa Barbara design home sits next to the community park with no neighbors. The Iron front door leads you into a 2 story foyer with a checkered pattern black and white flooring and staircase in a warm wood by Du Chateau. The Chefs Kitchen adorned with Sub Zero, Wolf and Cove appliances over look the Great Room with high ceilings, large Fireplace, Wet Bar and wall of glass opening to the covered patio of the back yard. The outdoor space carries the same checkered pattern tile bringing the outdoors in. The outdoor fireplace, water feature and outdoor BBQ are great for those entertaining evenings. 2 of the 3 oversized en suite guest rooms all accommodate King Size Beds and have there own outdoor sitting space. 1 of the guest bedroom en suite is designed like a guest Casita with a Kitchenette and attached garage. Use it as part of the home at all times or close it off to give guests their own space and privacy. The 3 car total garage, laundry, powder bath and elevator complete the first level of this home. You may take the elevator or staircase to the Primary suite level. The loft area and outdoor loggia is perfect for retiring to for the evening. Take in the incredible views of the Phoenix Nature Preserve from the covered entertaining space. The Primary suite and bath are just steps away. The calming spa like bath with Shower, soaking tub, vanity and custom walk in closet with built in storage give privacy to the Primary. The loggia off the Primary bedroom has views of Downtown and Uptown Phoenix on the Horizon. This community is situated in close proximity to all Paradise Valley, Biltmore and Scottsdale have to offer! 24/7 Guard Gated Clubhouse and Pet Park The mixture of contemporary design and pops of old world blend timelessly in this new home. Come see this home today!

2782 Andrew Douglass -- Flagstaff, AZ 86005

$3,950,000
4 Beds
4.5 Baths
6,100 SqFt
Status Active
MLS # 6755147
Property Type Single Family Residence
Price Type --
Perched upon 1.28 acres of picturesque land, this stunning log home is a masterpiece of craftsmanship and history, built from ''King'' logs salvaged from the historic Yellowstone fire. The property boasts panoramic views of the 16th hole of the Meadow Golf Course and amazing views of the San Francisco Peaks, enhancing its serene and picturesque setting. Inside, the home offers multiple living areas, including a spacious, reimagined game room complete with newly constructed full bar—ideal for entertaining guests. The large chef's kitchen features a center island, modern appliances and is open to the formal dining area and an additional family room, providing a seamless flow for gatherings. The primary suite is conveniently located on the main level, providing easy access and a tranquil retreat, with the other bedrooms tucked away downstairs. The residence is designed for comfort and elegance, with four rustic fireplaces and central air conditioning ensuring a pleasant atmosphere year-round. Enjoy the outdoors from multiple covered decks that offer sweeping views and wonderful privacy. A brand-new Lutron lighting system has just been installed! With its blend of historical charm, modern amenities, and stunning natural views, this log home is a unique sanctuary. Tucked away amidst 1,100 acres of pristine alpine beauty, Forest Highlands exudes an unparalleled sense of exclusivity and serenity. With two championship golf courses designed by Tom Weiskopf and Jay Morrish, Forest Highlands sets the stage for unforgettable golf experiences. The community offers an array of exceptional amenities, including two clubhouses, multiple dining options, tennis courts, swimming pools, and miles of hiking and biking trails. Forest Highlands is a retreat where luxury meets nature, ensuring a harmonious lifestyle for its residents.

1301 S Manzanita Hill Road Prescott, AZ 86303

$3,950,000
4 Beds
5 Baths
3,622 SqFt
Status Active
MLS # 6764604
Property Type Single Family Residence
Price Type --
Extraordinary opportunity to purchase a stunning 7.89 acre hilltop estate just 3 miles from downtown Prescott, AZ. Private yet easily accessible, this one-of-a-kind property offers just the right amount of seclusion for a weekend getaway, a seasonal vacation retreat, or a primary dream estate. Built in 1989, the home features numerous architecturally significant elements including soaring tongue-in-groove ceilings, a breathtaking wall of glass designed to maximize the awe-inspiring panoramic mountain views, and a romantic curved staircase ascending to the upper level. The main home features 2 ensuite guestrooms - one on the main level, one on the upper level. The primary ensuite on the upper level is ideally situated to take full advantage of the magnificent views and outdoor deck space.

10493 E Skinner Drive Scottsdale, AZ 85262

$3,950,000
5 Beds
5.5 Baths
5,944 SqFt
Status Active
MLS # 6763000
Property Type Single Family Residence
Price Type --
FULLY PERMITTED elegant 6,000 sq ft Gramling Architecture designed residence in guard gated Candlewood Estates. The home design features a sophisticated floorplan with 5 spacious bedrooms, a dedicated study, bonus room, and a luxurious attached casita. The elevated lot lends itself to fantastic views of Pinnacle Peak and the surrounding mountains. With soaring ceilings and expansive windows, this home and its location will not disappoint. Troon North is home to the public Troon North Golf Club, grassy parks, endless hiking and mountain biking trails, pickleball and tennis courts, and some of the most beautiful desert scenery in the Valley. Skip the wait and start building now!

2717 E Byrds View Drive Flagstaff, AZ 86005

$3,950,000
4 Beds
4.5 Baths
3,698 SqFt
Status Active Under Contract
MLS # 6750858
Property Type Single Family Residence
Price Type --
Discover your dream home in this luxurious 2021 custom-built, 4-bedroom, 4.5-bathroom, 3,686 sqft residence, perfectly situated on a premium golf course lot at the end of a private cul-de-sac with breathtaking views of the picturesque par-5 4th hole. The thoughtfully designed floor plan balances privacy with open living, featuring a spacious master wing with a private patio, ideal for morning coffee or evening relaxation. Every detail exudes contemporary elegance, from high-end finishes to seamless indoor-outdoor flow. Nestled in the serene beauty of the Pine Canyon community, this exceptional property offers an unmatched lifestyle of comfort and sophistication. Stay tuned—this stunning home won't be on the market for long!

2285 E Chandler Heights Road Chandler, AZ 85249

$3,950,000
6 Beds
6.5 Baths
8,415 SqFt
Status Active
MLS # 6766055
Property Type Single Family Residence
Price Type --
Welcome to this timeless and elegant estate in Chandler, Arizona. Completed in 2020, this rare find sits on over 36,000 square feet of land, with more than 8,400 square feet of beautifully designed living space. The home blends sleek modern lines with classic Tuscan elements, adding to its refined elegance. Outside, the spacious, landscaped lot features a grand circular paved driveway and a picturesque water fountain, offering a stunning first impression. The setback, surrounding wall, and lush greenery provide added privacy. With only one owner and no HOA, this home continues to reflect the essence of a newly built home. This exquisite home provides peace of mind with major components such as the roof, AC units, and water heaters still virtually new. If that wasn't enough the solar panels will be PAID OFF at closing adding to its energy efficiency and long-term savings for the new owner. The entrance, framed by a double iron gate, leads to a home filled with luxury details. Upon entering, you're greeted by natural light that flows through the large dual pane low-e windows drawing your eyes to the wood beams and soaring 24-foot ceiling great room featuring a gas fireplace. Two sets of French doors open to reveal a resort-style backyard, perfect for seamless indoor-outdoor living. Arched hallways add a touch of timeless elegance, gracefully connecting expansive living spaces throughout the home. The heart of the home, the gourmet kitchen, is designed to impress. A 20-foot island with breakfast bar seating invites family and guests to gather, while luxury appliances, including a 36 gas oven, a 42 built-in fridge, two dishwashers, and top-of-the-line granite and quartz countertops, make cooking a true pleasure. Custom solid wood cabinetry with soft-close features adds a touch of elegance and practicality. The formal dining room, with its grand chandelier, is ideal for hosting memorable dinner parties. Escape to your private sanctuary in the primary suite, located in its own wing of the home for ultimate privacy. This retreat features an extra-large sitting room, perfect as a personal living area or reading nook, with French doors that open directly to the backyard. The spa-like primary bath offers dual vanities, a heated jacuzzi tub, and a separate shower, creating the perfect place to unwind + there are two separate closets! A private office just off the bedroom adds functionality and privacy for working from home. Entertainment is never far away, with a media/theater-style loft featuring a bar area, perfect for movie nights. The resort-style backyard, completed in 2021, is your private oasis. Take a dip in the heated pool or jacuzzi, relax under the covered patio, or gather under the pergola with ceiling fans for added comfort. A large artificial turf area provides the perfect space for play, while multiple seating areas, a built-in BBQ, and an outdoor fireplace ensure endless possibilities for outdoor enjoyment and relaxation. Located within a top-rated school district and just minutes from the highly sought-after Arizona College Prep High School! Nearby amenities include Chandler Fashion Square, Downtown Chandler, Ocotillo Golf Club, and Downtown Gilbert (just 15 min. away!), all offering excellent dining, shopping, and entertainment options. With easy access to Loop 202, 101, and I-10, commuting is convenient, and the Price Corridor is home to companies like Intel, Northrup Grumman, and Wells Fargo is only 20 minutes away. This extraordinary property offers the perks of city living with the privacy and luxury of a secluded estate! Google Maps will take you to the community behind the home. Please use 13017 E Chandler Heights Rd for accurate directions.

10764 N 138th Way Scottsdale, AZ 85259

$3,950,000
5 Beds
6 Baths
4,897 SqFt
Status Active
MLS # 6770772
Property Type Single Family Residence
Price Type --
CalAtlantic's largest home with an amazing layout and private guest suite with its own entrance. The pool, hot tub, and pergola overlook the spectacular mountain views. The foyer opens to the formal dining which overlooks the expansive rear courtyard with giant chess pieces and a fireplace. The stunning kitchen features a large center island that overlooks the rear courtyard, a large walk-in pantry, home management area and butler's pantry. The four secondary bedrooms provide for plenty of privacy each with its own bath and walk-in closet. The master suite features two large walk-in closets, a spa-like bath and has the option to open up to the rear covered patio. There is two toned paint, barrel ceilings, charging station, and RV gate. Make this dream home yours today!

1234 W Orchid Lane Phoenix, AZ 85021

$3,950,000 - 5Br/5Ba -  for Sale in Why Worry Ests, Phoenix
Open House
$3,950,000
5 Beds
5 Baths
4,700 SqFt
Status Active
MLS # 6737909
Property Type Single Family Residence
Price Type --
NEW BUILD!! 5-bedroom, 5-bathroom residence that exudes elegance and functionality. Each bedroom is a private oasis, complete with its own on-suite bathroom, offering comfort and convenience for family and guests alike. The heart of the home is the gourmet kitchen, a chef's dream with state-of-the-art appliances, expansive countertops, butler's pantry and custom cabinetry. The dedicated wine room promises to be a connoisseur's delight, perfect for storing and showcasing a prized collection. Dual laundry rooms ensure household chores are handled with ease, providing ample space for organization and storage. The extra-large 3-car garage offers generous space for vehicles and storage, while also serving as a versatile area for hobbies or a workshop. This home is a perfect blend of luxury and practicality, designed to cater to a refined lifestyle. The outdoor spaces of this luxurious home are designed to offer an unparalleled experience of elegance and leisure. Imagine stepping into a meticulously landscaped garden, where the tranquility of nature meets the sophistication of design. A stunning pool and spa serve as the centerpiece, creating a serene oasis for relaxation and social gatherings. Adjacent to the pool, a state-of-the-art outdoor kitchen awaits, fully equipped for al fresco dining and entertainment. Comfortable seating areas are interspersed throughout, featuring plush sofas and lounge chairs, perfect for enjoying the warm Arizona sun or gathering around a sleek fire pit during cooler evenings. These outdoor living spaces are not just visually appealing but are functional extensions of the home, crafted to enhance the joy of outdoor living.

15332 E Hidden Springs Trail Fountain Hills, AZ 85268

$3,950,000 - 4Br/6Ba -  for Sale in Firerock Parcel Q-2, Fountain Hills
Open House
$3,950,000
4 Beds
5.5 Baths
4,265 SqFt
Status Active
MLS # 6748881
Property Type Single Family Residence
Price Type --
Stunning Golf Course Lot residence along the Scottsdale-Fountain Hills corridor with sweeping Views of the Fairway, Water & Mountains and NO INTERIOR STEPS, in guard gated Firerock Country Club. Nestled on 2 + Acres, the home was beautifully Remodeled and Expanded in 2019. Ample natural light flows into every living space. The serene and spacious Primary Suite is comfortably arranged with 2 private Bathrooms and a cozy sitting area to relax by the fireplace. Views of the Firerock Golf Course, Four Peaks and the neighborhood lake surround the owners retreat. Similarly, the views from the Living Room and Kitchen-Great Room are breathtaking and balanced by comfortable and gracious interiors. The Attached Casita offers a gracious suite for guests with a private entrance off the Terrace. All Bedrooms have en suite Bathrooms, Walk In Closets and are appointed in soft tones. Running the length of the home, the outdoor Terrace creates a seamless experience from the interior to the gorgeous Mountain and Golf Course Views. Truly an ideal Outdoor Living Space, it is complete with a built-in BBQ, Infinity Pool and Putting Green. Owners use the residents-only west gate which grants immediate access to the Mayo Clinic Scottsdale, BASIS - Scottsdale and Shea/101. This location is a hidden gem, lives like Scottsdale and must be viewed in person to appreciate all this property has to offer.

5921 E Silver Sage Lane Cave Creek, AZ 85331

$3,913,995
4 Beds
3.5 Baths
4,315 SqFt
Status Active
MLS # 6746829
Property Type Single Family Residence
Price Type --
Toll Brothers Model Home! This home makes an immediate impression with a lovely foyer flowing into the expansive great room and casual dining area that presents alluring views of the covered patio. A large center island enhances the expertly crafted kitchen that offers plenty of counter and cabinet space, a generous pantry. Featuring a relaxing sitting area and expansive walk-in closet, the palatial primary bedroom suite is highlighted by a spa-like primary bath. Central to a versatile flex room with covered patio access, secondary bedrooms feature sizable closets and a shared bath with separate vanity area. A secluded multi-generational suite with closet, private bath, and living area can be found off the foyer. Additional features include a private office, convenient powder room

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