Epic Housing Shortage Being Reported

Epic Housing Shortage Being Reported | Simplifying The Market

The Joint Center of Housing Studies (JCHS) at Harvard University recently released their 2017 State of the Nation’s Housing Study, and a recent blog from JCHS revealed some of the more surprising aspects of the study.

The first two revelations centered around the shortage of housing inventory currently available in both existing homes and new construction.

Regarding Existing Home Inventory:

“For the fourth year in a row, the inventory of homes for sale across the US not only failed to recover, but dropped yet again. At the end of 2016 there were historically low 1.65 million homes for sale nationwide, which at the current sales rate was just 3.6 months of supply – almost half of the 6.0 months level that is considered a balanced market.”

Regarding New Home Inventory:

“Markets nationwide are still feeling the effects of the deep and extended decline in housing construction. Over the past 10 years, just 9 million new housing units were completed and added to the housing stock. This was the lowest 10-year period on records dating back to the 1970s, and far below the 14 and 15 million units averaged over the 1980s and 1990s.”

Bottom Line

The biggest challenge in today’s market is getting current homeowners and builders to realize the opportunity they have to maximize profit by selling and/or building NOW!!  Give me a call to get started – J.P. Cook – 602-320-4253.

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22439 N 89th Street Scottsdale, AZ 85255

$5,195,000
4 Beds
4.5 Baths
5,147 SqFt
Status Active
MLS # 6756386
Property Type Single Family Residence
Price Type --
Modern Farmhouse in desirable White Horse community! This 5147 sf single level home is located one of Scottsdale's hottest neighborhoods due to its amazing architecture and convenient location. Set on nearly .7 acres, this site is regarded as the best lot in Whitehorse due to its orientation, deep backyard, open space behind and stunning McDowell Mountain views from the back. Desirable single level floorplan features 4 bedrooms and a media room/bonus room, along with a 4 car garage. The great room and kitchen have an open-concept design, featuring glass pocket doors that seamlessly connect to the front and back covered patios—perfect for enjoying Arizona's mild weather and entertaining guests. Private backyard oasis is anchored by a stunning pool surrounded by lush turf and captures sweeping mountain views. State of the art features include Wolf/Subzero kitchen appliances, double dishwashers, brick accent wall in kitchen, wide plank white oak flooring, beamed truss ceilings, built in media wall in bonus room, quartz and limestone counter tops, 3 tankless water heaters and a separate dog wash in laundry room. Whitehorse is conveniently located just north of DC Ranch in North Scottsdale, 1 mile from the shopping /dining of Market Street, and minutes away from the Loop 101. Please preview to see why this address is in such high demand!

37200 N Cave Creek Road Unit 1082 Scottsdale, AZ 85262

$5,195,000
4 Beds
4.5 Baths
4,376 SqFt
Status Active
MLS # 6777672
Property Type Single Family Residence
Price Type --
Welcome to the pinnacle of luxury living at the Villas at Seven Desert Mountain, where bespoke design and modern lifestyle converge. This stunning contemporary masterpiece, boasting energy efficiency and elegant, open-concept design, offers the perfect turn-key experience for discerning buyers. Sold fully furnished, this home is ready for you to move in and start enjoying immediately. Spanning approximately 4,400 sq ft over two levels and complete with a private elevator, this residence is as functional as it is beautiful. It features an expansive great room with breathtaking golf course views, 4 spacious bedrooms, a versatile bonus room, and 4.5 opulent baths. The 4-car garage offers ample space and convenience, while the meticulously chosen furnishings and finishes add an extra layer of sophistication. Overlooking the exclusive Seven golf course, this property epitomizes resort-style living, combining luxury with ease. If you're seeking a fully furnished, turn-key home that effortlessly blends comfort and class, this is it.

40523 N 102nd Place Scottsdale, AZ 85262

$5,185,000
4 Beds
5 Baths
6,100 SqFt
Status Active
MLS # 6776164
Property Type Single Family Residence
Price Type --
Golf Membership Available - Nestled in one of Desert Mountain's most coveted villages, this exceptional residence rests at the end of a quiet cul-de-sac on a premier lot overlooking fairway 1 of Cochise Golf Course, walk on a private path to the club house. The home provides sweeping mountain vistas, huge sunsets and unmatched privacy. Thoughtfully designed, the interior offers a gourmet kitchen with dining, a grand living room with large picture window and breathtaking views, a formal dining room, and a luxurious primary suite featuring dual master baths—each with its own private sitting area and walk-in closet. 2 additional ensuite bedrooms and a separate guest casita offers its own living room, kitchenette, large bedroom, and bathroom, perfect for visitors. Outdoor living is unparalleled, with a shaded patio and gas fireplace, stunning views, a pool, spa, and built-in BBQ. A generous three-car garage completes the home, all just moments from the Desert Mountain gate and Sonoran Club. Some furnishing may be available through a separate bill of sale. A transferrable GOLF MEMBERSHIP is available to transfer via a separate purchase through the Desert Mountain Club. 30 day minimum application review and acceptance is required. Embrace the Desert Mountain lifestyle with world-class amenities, stunning natural beauty, and the privacy of a prestigious community. Make this your full-time residence or the ultimate vacation getaway.

13074 E Saddlehorn Trail Scottsdale, AZ 85259

$5,150,000
5 Beds
6.5 Baths
6,679 SqFt
Status Active
MLS # 6780791
Property Type Single Family Residence
Price Type --
This home defines luxury, style and convenience w/ an amazing location and views!! Everyday feels like resort living, ideal for entertaining, too!! Impressive architectural details, ceilings, beams and unparalleled workmanship with all the finest finishes! Updated inside and out!!! Beautiful, custom kitchen boasts double islands, glazed cabinets, marble, mother of pearl backsplash, Wolf , Viking, Subzero appliances. Escape to the primary retreat w/ his/her closets, unbelievable spa like bath w/ fireplace, sitting area, his/her water closets, sauna, beverage bar and work out room. Settle into the theater room for the big game or your fav movie w/ highly upgraded equipment( new 8k projector included w/ sale)entire home has most up to date Savant smart home system including surround sound system, 10 new ultra thin profile 4k Sony TV's w/ Sonos soundbars(included), commercial grade hard-wired WIFI system inside and out w/ Cox gigabit internet and security. Temperature controlled wine storage and great wet bar area w/ seating. 4+ car garage is oversized and equipped w/ electric vehicle charger, epoxy floors and storage. The front courtyard includes fireplace, travertine and is accessible to both the casita and home. Casita has kitchenette, walk in closet, private bath, currently used as an amazing game room providing fun for everyone! 3 Guest rooms all ensuite w/ walk in closets. Private backyard offers breathtaking views and all the comfort and luxury of a 5 star resort! Pool, spa, outdoor kitchen, fireplace in a must see setting!! All 5 HVAC units replaced 2023, $240k in smart home Savant system/AV systems added, and over $500k in exterior/interior paint, courtyard, patio, outdoor kitchen and pool upgrades since 2022.

39601 N Ocotillo Ridge Drive Carefree, AZ 85377

$5,150,000
5 Beds
7 Baths
7,783 SqFt
Status Active
MLS # 6620894
Property Type Single Family Residence
Price Type --
Introducing the epitome of quiet luxury at this formidable estate on 5 acres of private land. Behind the gates at the pristine Ocotillo Ridge Estates in Carefree. Every inch of this 7,783 sq. ft. estate has been meticulously maintained and crafted with an array of upgrades and emphasis on the modern hacienda style. Exceptional finishes include hickory hardwood & slate floors, wood beams, custom cabinetry, Cantera stone fireplaces, tongue and groove wood ceilings, and hand-crafted tiles throughout the home. Upon entry, the pure elegance of the great room with the accordion doors opening to the infinity edge pool and the breathtaking mountain vistas and sunsets will amaze you every time. Well-appointed top-of-the-line gourmet kitchen. An impressive wet bar for entertaining & picturesque... views. A generous primary suite retreat with a sitting area, luxurious bath, oversized custom closet, and an exercise room. Three additional en-suites with their own patio access and separate office. Paver drive and motor court. Oversized four-car garage. Back to the enchanting courtyard, you can head to the quaint guest house that oozes the local town's flair. Your guests will have the best time at this inviting casita. Romantic outdoor spaces include 2000+/- sf of deep-covered paver patios and 1000+/- sf of elevated open dining/relaxing deck with Cantera fireplace and BBQ. There are endless, unobstructed views in every direction and every room. The setting is every bit as spectacular as the home itself. There are miles of quiet hiking and biking trails. Unequaled privacy and tranquility await you at this resort-like sanctuary. Yet, you are minutes (three miles) from the quaint, charming old towns of Cave Creek and Carefree. This property also presents a unique opportunity for seller financing and is available turnkey through a separate bill of saleeffortlessly inviting you to start your new chapter without delay.

5347 E Mockingbird Lane Paradise Valley, AZ 85253

$5,100,000
5 Beds
4.5 Baths
7,425 SqFt
Status Active
MLS # 6754720
Property Type Single Family Residence
Price Type --
PRICED AT $687 PER SQ FT! ABSOLUTE MUST SEE IN PERSON! From the second you walk into this beautiful Paradise Valley estate you will LOVE the open floor plan, soaring ceilings, walk out of the 16 foot pocket doors to the spectacular Mummy Mountain views, gorgeous resort style pool/backyard. THIS HOME IS AN ENTERTAINERS DREAM. Recently refreshed Primary wing. Custom brick ceilings, exposed wood beams, beautiful stone accents throughout the home, and custom wood cabinetry. 3 large stone fireplaces. Oversized kitchen with large 14 ft island and high end appliances. New hardwood flooring throughout the home. Recently updated theatre room. Oversized bedrooms and showers throughout. 4 ENSUITES. Stadium style theater room complete with 4k projector. Welcome to your new home.

10535 E Paradise Drive Scottsdale, AZ 85259

$5,000,000
6 Beds
6.5 Baths
6,181 SqFt
Status Active
MLS # 6596265
Property Type Single Family Residence
Price Type --
NEW CONSTRUCTION - Permits ready and we are set to break ground on the exceptionally designed Modern Luxury Estate brought to you by Blue Sky Homes. Boasting roughly 5312 SF this home is an entertainer's dream, with open kitchen, large sliding door system to the backyard and a split bedroom floor plan and with 10'+ ceilings. Guest will fee welcomed in the spacious 800+ SF casita overlooking resort style backyard. This amazing home is located in the popular Cactus/Shea corridor close to shopping, dining, as well as hiking trails. Don't miss out on the opportunity to semi customize this desert gem before it's too late. *This property is located on lot A of the site.

9279 E Andora Hills Drive Scottsdale, AZ 85262

$5,000,000
4 Beds
4.5 Baths
5,305 SqFt
Status Active
MLS # 6667422
Property Type Single Family Residence
Price Type --
Completion January 2025. Golf Membership available from seller. New build by leading luxury home builder - Blackstone Development and designed by Graffin Design. Terrific mountain views from Apache Peak all the way across the Continental Mountain Range to the western mountains and wonderful spring sunsets. Offering the floor plan today's buyer is looking for: open great room plan with retractable glass doors to enjoy the gorgeous views and one level living with 4 suites plus a study. Outdoors enjoy a large patio area complete with two way fireplace, pool, spa, and BBQ. Buyer still has time to put their own stamp on this home and colorize it as they would like to. Save a year and half of design headaches and just do the fun part-picking out the colors. Home can be purchased and new owners can start enjoying the Desert Mountain Club upon closing-of course subject to membership approval. Floor plan is located under the Document tab. This home is now thru drywall stage and cabinets are being installed.

41735 N 101st Way Scottsdale, AZ 85262

$5,000,000
4 Beds
4.5 Baths
5,699 SqFt
Status Active
MLS # 6765688
Property Type Single Family Residence
Price Type --
Golf Membership Available- Today's modern interpretation of the original Pueblo style - keeping in harmony with the desert. This privately gated home within Saguaro Forest at Desert Mountain is situated on an elevated lot with magical sunset, golf course, surrounding mountains, city lights and mountain silhouettes at night. Ideal south facing backyard captures winter sun on the pool/patio areas all day. Built by Phil Smith, this home emanates master crafted details; rooms in the round, forged metal rails, wood detailed ceilings, tubular skylights, stone, wood and concrete floors and Venetian plaster walls. The great room split floor plan with Master and library wing on one side and 3 guest ensuites on the other allows privacy for all. Patios around the home provide gathering spaces for many or sanctuaries for a few. The pool, spa, outdoor kiva fireplace and barbecue create outdoor living and dining at its finest. Electric shades, central vac, high end appliances and an elevator keep current with today's luxuries and conveniences. Lush Sonoran desert vegetation surrounding the home creates a true desert botanical experience. Private and tranquil, yet located close to the Cochise/Geronimo and Chiricahua Clubhouses for dining and golf. Bike or hike from your home to the nearby Desert Mountain Trails with over 20 miles of multi-use trails. Sonoran Fitness center located within a short drive from home. Golf Membership to the Desert Mountain Club available.

23433 N 84th Place Scottsdale, AZ 85255

$5,000,000
5 Beds
5.5 Baths
5,340 SqFt
Status Active
MLS # 6701102
Property Type Single Family Residence
Price Type --
This to-be-completed home will be the epitome of modern sophistication and luxury living, offering two primary suites, with spa like bathrooms, and large walk-in closets. There are two additional bedrooms with attached bathrooms and walk-in closets, and an additional office/den. The attached casita offers a separate entrance with private bath, making it the perfect space for guest quarters or home gym. Kitchen is a chefs dream with large island, top of the line appliances, and a butlers pantry. Sitting on almost two acres, corner lot, gorgeous mountain views, and located in the quiet, gated community of Pinnacle Paradise. Plans and permits available. Home to be finished by end of 2024. This is your opportunity to work with the contractor in picking your own finishes.

5123 E Mcdonald Drive Paradise Valley, AZ 85253

$5,000,000
4 Beds
3.5 Baths
4,379 SqFt
Status Active
MLS # 6778627
Property Type Single Family Residence
Price Type --
Nestled on the iconic Camelback Mountain, this charming single-story home offers the best of Arizona living with 4 bedrooms, 3.5 bathrooms, and 4,379 sq/ft of beautifully designed space on an expansive acre of land. The interiors feature a reception foyer leading into the formal living room and family room. The home boasts 2 primary suites, both beautifully presented with one enjoying a fireplace. One guest bedroom is currently being used as an office. Boasting panoramic mountain views while still high enough to enjoy dazzling city lights, this property offers an unparalleled combination of natural beauty and urban convenience. The resort-style backyard is perfect for entertaining, featuring lush landscaping, classic swimming pool, and serene views that provide the perfect backdrop for any occasion. This is Arizona luxury living at its finest.

4959 E Red Rock Drive Phoenix, AZ 85018

$5,000,000
4 Beds
3 Baths
3,460 SqFt
Status Active
MLS # 6775731
Property Type Single Family Residence
Price Type --
Perched on the red rocks of Camelback, this hillside house boasts incredible views of the city to the south and stunning rock features as a surround. The main house has 3 bedrooms adorned with city views, with a guest house nestled underneath. The offset pool and spa are tucked against the mountain for an incredible combination of privacy and top of the rock atmosphere. The master suite has room to spare with a master bath that blends contemporary design with luxury features. The kitchen and dining room open to a living room and deck with indoor outdoor living in mind. An inviting gas fireplace serves as a feature to the living room inside while outdoor fire features lead you outside for sunny days and twinkling lights at night.

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