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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241 N Senate Street Chandler, AZ 85225

$545,000

3 Beds

2 Baths

1,788 SqFt

Status Active Under Contract

MLS # 6769053

Property Type Single Family Residence

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$545,000

2 Beds

2 Baths

1,087 SqFt

Status Active

MLS # 6769103

Property Type Apartment

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Explore this 2-bedroom unit in the vibrant community of Inspire on Earll! Discover sleek wood-look floors and stylish light fixtures that create an inviting atmosphere. Great room offers direct access to a private balcony. The delightful kitchen features stainless steel appliances, recessed lighting, a pantry, a chic tile backsplash, and a center island with a breakfast bar for casual dining. Retreat to the main bedroom, where plush carpeting and an ensuite with dual sinks, a walk-in shower, and a generous walk-in closet promise comfort and convenience. Enjoy your morning coffee or unwind with your favorite beverage on the balcony, complete with an adjacent storage room. Take advantage of the community's amenities, including a pool, spa, and fitness center. Don't miss out on this gem!

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$545,000

2 Beds

2 Baths

1,563 SqFt

Status Active

MLS # 6769872

Property Type Single Family Residence

Price Type --

Enjoy amazing unobstructed vistas of the golf course and Vulture Peak from your extended patio, pergola, fan and two relaxing water fountains. Over $90,000 of upgrades! $80,000 lot premium. Fantastic floor plan includes a separate OFFICE. Kitchen, upgraded granite, stainless Steel appliances. Dining Room has shiplap custom wall, custom bench, custom light fixture. Soothing hues, upgraded paint & flooring. Open concept design is perfect for entertaining from the kitchen, living room to the outdoor patio. Main bathroom has double sinks, heavy glass shower and upgraded tile & Genta faucets and sliding patio door to enjoy the views. R/O system . Epoxy garage floor. Perfect Lock and Leave awaits you! Don't settle for mediocre! Live the time of your life! Golf, Pickelball, hikin

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3427 E Campo Bello Drive Phoenix, AZ 85032

$545,000

4 Beds

2 Baths

1,690 SqFt

Status Active

MLS # 6770299

Property Type Single Family Residence

Price Type --

Welcome to this charming 4-bedroom, 2-bath residence now available on the market in central Phoenix! No HOA! Inside, you'll find a delightful great room with high ceilings, a soothing palette, and stylish wood-look flooring. The gourmet kitchen boasts granite counters, abundant white shaker cabinets with crown moulding, recessed lighting, a tile backsplash, stainless steel appliances, and a center island with a breakfast bar for casual meals. The cozy main bedroom offers an ensuite with double sinks, direct backyard access, and a convenient walk-in closet. Enjoy relaxing outdoors in the enchanting backyard, complete with a covered patio for al fresco dining, pristine artificial turf, and a refreshing pool for cooling down on hot summer days. Make it yours now! Must See!

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