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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5801 E Saguaro Road Cave Creek, AZ 85331

$899,000
3 Beds
2 Baths
2,034 SqFt
Status Active
MLS # 6777212
Property Type Single Family Residence
Price Type --
Single family slump block home on an incredible 3 acre lot in the Loringwood Estates in the heart of Cave Creek! Surrounded all around by mountain views this quiet lot currently has a slump block home with a private pool. The home features 3 bedrooms, 2 bathrooms, plus 2 more bonus rooms, fireplace and a long covered patio. Plenty of room on this lot to build your dream home and use the existing structure as a casita, money making AirBnb or for your horse needs. There is also a private well, septic system and just a short ride to the center of Cave Creek!

32025 W Marsh Road Casa Grande, AZ 85193

$899,000
3 Beds
2 Baths
2,340 SqFt
Status Active
MLS # 6781963
Property Type Single Family Residence
Price Type --
Professional Pictures Coming soon! Welcome to your own slice of paradise! This expansive 30-acre ranch in Casa Grande, AZ, offers endless opportunities for a life of tranquility and adventure. Nestled amid scenic desert landscapes, the property includes a charming 3-bedroom, 2-bathroom house with spacious living areas, a cozy fireplace, and large windows that bring the beauty of the outdoors inside. Perfect for horse lovers, outdoor enthusiasts, or anyone seeking privacy, this ranch has ample room for livestock, farming, or potential development. Imagine the possibilities on this sprawling land, complete with mountain views and stunning Arizona sunsets. Don't miss out on this rare opportunity to own a true desert retreat with room to grow and dream! Note sale is to include 3 Parcels!

7601 E Indian Bend Road Unit 1046 Scottsdale, AZ 85250

$899,000
2 Beds
2 Baths
1,625 SqFt
Status Active
MLS # 6781875
Property Type Townhouse
Price Type --
With only 198 ultra-exclusive homes in Corriente, these 48 Perla models are the most coveted. Occasionally, one of the 18 exclusive waterfront views change hands. Although, only 6 are at ground-level, each becoming more desirable as you move inward. Only one offers the perfect combination of total privacy, unrivaled beauty, and absolute serenity. Welcome to the quintessential, Sonoran Desert hideout. Exquisite tile work, updated kitchen, fresh paint, high end appliances, energy efficient lighting, a cozy fireplace and views from every room that takes your breath away. Less than 10 minutes from TPC, Barrett-Jackson, Spring Training, world-class meals, dining and shopping! Or relax in pristine pools, friendly clubhouse and onsite gym - BTW, HOA dues include high speed internet and dish TV

30120 N 70th Street Scottsdale, AZ 85266

$899,000
3 Beds
2 Baths
1,545 SqFt
Status Active
MLS # 6782755
Property Type Single Family Residence
Price Type --
2.5 Acres of Pure Serenity. Glass house, windows everywhere to show the gorgeous sunsets. No HOA. Beautiful private area in desired North Scottsdale. End of cul de sac. Brand new, older house. Fully Remodeled. No stone unturned to make this house a turn key solution for someone. New shingled roof, Interior and exterior paint, new windows and doors, new kitchen and appliances, New LVP flooring throughout, newly upgraded bathrooms. Very popular option for horse lovers. Boundary markers just set via professional survey crew. If you want a house that has been fully renovated with little maintenance for years to come, here's your opportunity.

18008 N 52nd Place Scottsdale, AZ 85254

$899,000
4 Beds
2 Baths
2,426 SqFt
Status Active Under Contract
MLS # 6767721
Property Type Single Family Residence
Price Type --
Welcome to this beautifully updated 4-bedroom, 2-bathroom home spanning 2,426 square feet, located in the highly sought-after 'Magic zip code' of 85254. This home offers a Scottsdale address with the added perks of lower Phoenix taxes and utilities. The updated kitchen features bright white cabinetry, granite countertops, a gas cooktop, and a stunning travertine backsplash. The home has tile flooring throughout and a desirable split floor plan. The spacious primary suite includes a soaking tub, a walk-in shower, and ample closet space. Vaulted ceilings and skylights flood the home with natural light, enhancing the open feel of the formal dining and sitting areas. Step outside to your serene backyard oasis with a custom pergola, perfect for enjoying Arizona sunsets or morning coffee. The lush exterior is home to a variety of fruit trees, including guava, lemon, pomegranate, and tangerine, as well as vegetable plants. A soothing water feature adds to the tranquility of this space. The 3-car garage provides plenty of storage, and solar panels help reduce your electric bills. Security doors allow for a refreshing breeze during the cooler months. Located just 10 minutes from Desert Ridge Marketplace, you'll have easy access to a variety of popular shopping and dining options. Enjoy upscale dining at places like The Keg Steakhouse, Yard House, and Barrio Queen, or grab casual bites at In-N-Out Burger and Chipotle. The shopping experience includes major retailers like Target, Kohl's, and Ulta, as well as unique boutiques. With entertainment options like Dave & Buster's and AMC Theatres, this home offers both tranquility and convenience. Don't miss your chance to own in 85254, truly a gem!

15641 E Sycamore Drive Fountain Hills, AZ 85268

$899,000
4 Beds
3.5 Baths
3,552 SqFt
Status Active Under Contract
MLS # 6760447
Property Type Single Family Residence
Price Type --
Enjoy mountain views from this spectacular property with a portico in Fountain Hills! Beautiful updates are throughout this unique home. An abundance of windows and vaulted ceilings opens this home to light and air. Gather in the lovely kitchen boasting stainless and custom appliances, display cabinetry, center island with vegetable sink, pot filler at large range, extended backsplash and built-in wine cooler! There is banquette seating ready for a table to enjoy your morning coffee. The Generous primary suite affords a private sanctuary with ensuite bath and wash views. A vaulted living room is outfitted with a wet bar and focal fireplace to enjoy the views. 3 other bedrooms assures there is plenty of room for work, play and rest for everyone. Additional spaces provide an area for... storage or to create a custom space for yourself. Centrally located, this home benefits from a short commute to schools, shopping, parks and the famous fountain! See all the possibilities this property brings!

15208 E Palomino Boulevard Fountain Hills, AZ 85268

$899,000
3 Beds
2.5 Baths
2,500 SqFt
Status Active
MLS # 6773160
Property Type Single Family Residence
Price Type --
Discover your dream home in Fountain Hills, where modern luxury meets stunning natural beauty! This exquisite home has been beautifully remodeled with wood-like tile flooring, new carpet in the bedrooms, a spacious formal dining and living space, neutral paint, recessed lighting, & a cozy family room w/wood-burning fireplace for the cooler months. The eat-in kitchen has quartz counters, SS appliances, an island w/breakfast bar, & an abundance of white cabinets. Retreat to the expansive Arizona room that is air-conditioned, allowing for year-round enjoyment of the breathtaking views and natural light. A sparkling pool and lush landscaping provide a backyard oasis you won't want to leave. The spacious owner's suite has private access to the AZ room and an amazing bathroom with a dual vanity, free standing bathtub and spacious shower. With its prime location offering spectacular mountain views, this home is a perfect retreat for those seeking tranquility and elegance all while being minutes away from your favorite dining and entertainment in Scottsdale. It truly is a remarkable home in a truly dreamy location. Come take a look!

4847 E Juana Court Cave Creek, AZ 85331

$899,000
4 Beds
2 Baths
2,444 SqFt
Status Active Under Contract
MLS # 6754569
Property Type Single Family Residence
Price Type --
Remodeled to perfection with no expense spared ! This pristine 4 bedroom ,single-level ,TW Lewis home with super private yard backs to desert open space . Over $125,000 spent including Trane 20 seer high-efficiency AC units, new roof in 2022, gorgeous primary bath with soaking tub and remodeled guest bath. The kitchen is updated with quartz counters, Bosch double-oven, ASKO top of the range dishwasher, new whole house water conditioning system, plantation shutters, crown moldings, updated landscaping , new BBQ, flooring , paint and the list goes on. Gas cooktop and Fireplace. Great room floor plan ( see doc tab) with formal dining and breakfast room . 3 car garage and very walkable to coffee and restaurants nearby. The home is stunning - just move right in.

312 E Windsor Avenue Unit 13 Phoenix, AZ 85004

$899,000
3 Beds
3 Baths
2,400 SqFt
Status Active
MLS # 6652435
Property Type Townhouse
Price Type --
Our eyes are made to see forms in light: light and shade reveal these forms. Rising like the sun over Midtown Phoenix is Soleil. Inspired by Original Modernism; built for connoisseurs of live, work, play. There's a renaissance going on in PHX and you can be close to it all. Uber or light rail yourself to 3 rd Street Promenade and into secluded hidey holes! And when you need to unwind? You're 15 minutes away from exciting, desert hiking trails. It's here you'll witness sun-setting colors pour and splash themselves all over the Sonoran Desert.

17779 E Silver Sage Lane Rio Verde, AZ 85263

$899,000
3 Beds
2.5 Baths
2,316 SqFt
Status Active
MLS # 6674812
Property Type Single Family Residence
Price Type --
Introducing the Lightly lived in Highly upgraded 2316 sqft Contemporary Brasada model built in 2022. It includes a custom front courtyard, an extra hobby room, and a double doored Den for flexibility in room usage. Both, The Primary Suite and The Formal dining room features upgraded Sliding doors leading to the patio. Other Key Upgrades include added doors to the Primary bathroom and Pantry along with the Built-in Monogram kitchen appliances. The front & the backyard is fully landscaped with pavers, synthetic grass, fruit trees, and a green hedge. The extension of Great room tiles into the patio via the upgraded large Stack slider doors seamlessly connect with the outdoors to enjoy the stunning views of the FourPeaks. Neutral grays and whites create a cohesive aesthetic throughout

15448 E Palomino Boulevard Fountain Hills, AZ 85268

$899,000
3 Beds
2.5 Baths
2,371 SqFt
Status Active
MLS # 6684857
Property Type Single Family Residence
Price Type --
Welcome to your timeless retreat in Fountain Hills! Nestled into a coveted boulevard, this 3 bed, 2.5 bath home, constructed with concrete blocks in 1984, offers 2,371 square feet of luxurious living space. Master bath has walk in shower with a glass block wall. Enjoy panoramic Four Peaks AND McDowell mountain views from your North-facing backyard, seamless indoor-outdoor one level living. Relax in the recently refinished pebble tech pool. Attached two-car garage. Close to Adero Canyon trailhead.. Live the Arizona dream! Tour this beautiful home today!

7234 E Las Palmaritas Drive Scottsdale, AZ 85258

$899,000
3 Beds
3 Baths
2,626 SqFt
Status Active
MLS # 6693292
Property Type Single Family Residence
Price Type --
Beautifully updated home in the desirable community of Briarwood 6. You are welcomed by the charming courtyard and custom entry door. Entering the home, you will find soaring ceilings and bright sun filled rooms. The spectacular, custom kitchen is the jewel of the home but only the beginning of upgrades/improvements, which include: new LVP flooring, fully remodeled hall bath, new pool equipment and pebble tec resurfacing, two new HVAC systems (2021 and 2022), custom media wall in den, smart lighting, new landscaping and so much more. The primary bedroom is a sanctuary. Spacious room with fireplace and direct access to the rear yard/pool. Spa like bath with soaking tub and beautiful shower. The breakfast room is charming. This home is the perfect blend of indoor/outdoor living.

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