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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7141 E Rancho Vista Drive Unit 4007 Scottsdale, AZ 85251

$899,000
2 Beds
2 Baths
1,425 SqFt
Status Active
MLS # 6706306
Property Type Apartment
Price Type --
Spectacular Optima Camelview Remodel Opportunity. Perfect for an investor or end user. Welcome to this lovely 2 Bed 2 Bath 1425 SF unit featuring TWO private parking spaces. This property boasts a massive private terrace perfect for relaxing or entertaining and a very desirable floor plan with a huge master suite. You'll also find an abundance of floor-to-ceiling glass windows and lush community views. A true value for the price, set up a showing today and make this amazing property your own! All found within the luxurious Optima Camelview Village, with it's unbeatable location & state of the art architecture/amenities. Amenities include: Two Outdoor Zen Pools, Spas & Bbqs One on each side of the community (heated year round). 24,000 sq. ft. Fitness Center (Recently Remodeled). Mens & Womens Locker Rooms w/ Steam Rooms, Showers and Private Lockers. Indoor Lap Pool & 2 Spas (Heated year round), On-site concierge, Putting green, Hybrid Basketball / Pickle-ball Court, Racquet ball court, On-site restaurant (metropolis), conference room, 24/7 Security, Reservable party room and multi-purpose fitness/yoga room.

5540 E Dahlia Drive Scottsdale, AZ 85254

$899,000
4 Beds
2 Baths
2,086 SqFt
Status Active
MLS # 6713147
Property Type Single Family Residence
Price Type --
Beautiful home with tons of space in 85254! Home is well appointed and Move In Ready! **Seller offering $8,000 credit toward Buyer's closing/loan rate buy down costs if needed** Interior wood shutters, newer appliances & granite counters in bathrooms. All appliances convey! Huge lot with room for everything. Diving pool, jacuzzi and plenty of space for entertaining. Pride of ownership is on display! Includes these big ticket updates: Renewal by Anderson windows NEW in 2018, Roof replacement in 2020, Full AC/HVAC replaced in 2020 with York 5 ton/16 seer unit, Pebble tech pool resurfaced in 2020, Exterior painted in 2021. Perfect for a Buyer to move right in and make this your new home. Thank you for your interest!

9837 W Lariat Lane Peoria, AZ 85383

$899,000
4 Beds
2.5 Baths
3,199 SqFt
Status Active
MLS # 6728829
Property Type Single Family Residence
Price Type --
INSTANT EQUITY OPPORTUNITY! Appraisal completed on 7/24 at $935K—priced below market value! Welcome to your dream home, a luxurious sanctuary nestled on a premium view lot in the prestigious gated community of Stonebridge Ranch, located in the highly desirable 85383 Peoria neighborhood. From the moment you enter the private courtyard through the elegant iron gate, you'll be captivated by the charm and sophistication of this residence. This popular split floor plan features 4 spacious bedrooms, a versatile den, and 2.5 beautifully appointed bathrooms. Designed for modern living, the home boasts energy-efficient prepaid solar, ensuring sustainable and cost-effective living. Step inside to find a freshly painted interior and many upgrades throughout, including coffered ceilings in the main entryways, living areas, and the owner's suite. The gourmet kitchen is a chef's delight, equipped with gas cooktop, under-cabinet lighting and a stunning 12-foot slider door that seamlessly connects indoor and outdoor living spaces. The resort-like backyard is an entertainer's paradise, featuring a built-in fireplace, meticulously landscaped yard, and two separate pergolas complete with a barbecue and bar area. At the heart of this outdoor oasis is a gorgeous heated swimming pool with a unique glass finish, offering breathtaking desert mountain views and access to the most beautiful sunsets you have ever seen. For your peace of mind, this home has been thoroughly inspected with all repairs completed, and a home warranty is offered. Accessibility is a key feature, with handicapped accessible doorways and a roll-in shower, ensuring comfort for all residents and guests. Conveniently located near shopping centers, nationally recognized schools, and just 10 minutes from Lake Pleasant, this home offers an unparalleled lifestyle. This home has it all and so much more. Don't miss the opportunity to make it yours

5269 Wellness Way Prescott, AZ 86301

$899,000
3 Beds
3 Baths
2,380 SqFt
Status Active
MLS # 6731660
Property Type Single Family Residence
Price Type --
etter than new, highly upgraded, one level Dorn Organic Home set high on the largest lot in centrally located Walden Ranch with unobstructed views of Granite Dells, Mingus Mountain and San Francisco Peaks. Watch the July 4th fireworks and the moon rise from your patio. Popular Sunflower plan with post-tension slab and healthy building techniques that exceed the United States Energy Star program, making it 70% more energy efficient than the typical home. Open concept living features a central great room with vaulted ceilings, gas fireplace with blower; chef's kitchen with GE Profile appliance suite, white painted cabinets, stunning quartz countertops and 9 foot island with pendants overhead and huge walk-in pantry; formal dining area with a view; private primary suite with dreamy walk-in walk-in shower; 2 bedrooms sharing a full bath; den or office; rich engineered hardwood floors; fully landscaped and fenced backyard paradise with covered patio, grassy area for kids and pets, and paver area for al fresco dining under the stars; 3 car garage with epoxy floor; thermal blinds, Roman shades and plantation shutters; and ceiling fans in 3 bedrooms. Walk or bike to the scenic Peavine Trail, community gazebo, pickleball, 2 dog parks and bocce ball. Easy drive to both campuses of Dignity Health, public and charter schools (including Basis and Tri-City Prep), historic downtown Prescott's shops, restaurants and Courthouse Square cultural events, and Watson Lake for boating and hiking. Priced 100k lower than recent comps in the nieghborhood.

19927 W Meadowbrook Avenue Litchfield Park, AZ 85340

$899,000
4 Beds
3 Baths
2,130 SqFt
Status Active
MLS # 6732481
Property Type Single Family Residence
Price Type --
2 Acre Lot, Horse privileges, Pool & More--Welcome to your Desert Oasis! Custom Sante-Fe style home featuring 4 bedrooms & 3 bathrooms on 2 Private acres, great for privacy & enjoying the outdoors! Home has a gorgeous built-in fireplace in the great room with soaring vaulted ceiling, & wood beam accents. The kitchen includes plenty of cabinetry, granite counter-tops, stainless-steel refrigerator & dishwasher, built-in ovens, & hooded gas stove top. The primary bathroom has double sinks, spacious garden tub, & tiled walk-in shower. It has a full-length covered patio & 3 car garage and is wired for a 220 outlet. The Pebble-Tek pool has a waterfall & beautiful White Tank Mountain views. This lot has extra space to add on garages, horse stalls, & more. Come take a look at this serene oasis!

7348 N 9th Place Phoenix, AZ 85020

$899,000
5 Beds
3 Baths
2,905 SqFt
Status Active
MLS # 6758993
Property Type Single Family Residence
Price Type --
Opportunity awaits! Lovely home that checks all the boxes in a FANTASTIC location is ready for your updating! This custom built home is nestled in a quiet cul de sac in the highly sought after North Central Corridor and Madison school district. Set on a 1/4 acre serene lot, and offering ultimate privacy. Spacious throughout at just under 3,000 sq ft and offering 5 bedrooms (one on the main floor) and 3 baths. Also featuring a huge 3 car garage with extra storage, RV gate and no HOA! Backyard oasis offers pebble tec pool, built in hot tub and gorgeous mature trees. This unique home has been loved by the original owners and in need of some TLC and updating. See private remarks about financing and sold AS-IS. Hurry- priced to sell!

7272 E Gainey Ranch Road Unit 70 Scottsdale, AZ 85258

$899,000
2 Beds
2.5 Baths
1,777 SqFt
Status Active
MLS # 6751553
Property Type Townhouse
Price Type --
Introducing a sophisticated and timeless renovation in the highly coveted Pavilions at Gainey Ranch. This property showcases meticulous attention to detail throughout. The chef's kitchen is equipped with premium cabinetry, exquisite quartz countertops, stainless steel appliances, wine chiller, updated plumbing, light fixtures and new energy-efficient windows and sliding glass doors.. The open floor plan enhances the sense of spaciousness, while the fireplace in the living area adds a warm, inviting ambiance complemented by numerous decorative elements. The residence features elegant flooring with carpeted bedrooms and boasts twin master suites, each with private balconies, in addition to a loft area suitable for an office or den. Enjoy beautifully designed walk-in showers and creatively designed walk-in closets. Private floor plan with no neighbors living above or below. Experience luxurious resort-style living in the prestigious Gainey Ranch community, with convenient access to Gainey Village's shops and restaurants, community clubhouse, fitness center, pool, pickleball and tennis facilities. This exceptional opportunity should not be missed.

8648 E San Bruno Drive Scottsdale, AZ 85258

$899,000
3 Beds
2 Baths
1,930 SqFt
Status Active
MLS # 6737100
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the heart of McCormick Ranch! This amazing property sits on a MASSIVE lot, with plenty of room to expand the home, build a detached casita, and a pool! Nestled in a PRIME location, you'll enjoy direct access to the scenic biking path along the lake, and a short walk to all your favorite restaurants and bars! Inside, the home has a tremendous layout with three beds and two bathrooms. The open floor plan is designed for both comfort and style, featuring a gourmet kitchen with a wood burning fireplace, spacious living areas, and walk in closets in all bedrooms. Large windows flood the space with natural light, creating a warm and inviting atmosphere. If you're looking for a home in McCormick Ranch with endless possibilities, then this one's for you!

7629 N Via De La Campana -- Scottsdale, AZ 85258

$899,000
4 Beds
2 Baths
1,917 SqFt
Status Active
MLS # 6751738
Property Type Single Family Residence
Price Type --
You don't want to miss out on this affordable home in the heart of McCormick Ranch! Walk around the corner to beautiful Comanche Park This beautifully maintained property boasts a brand new Trane AC system installed in 2023 and recently updated Anderson windows (with warranty!), The split floor plan offers privacy and flexibility. Step outside to your own private oasis featuring a resurfaced pool with efficient equipment and a safety net for peace of mind. The backyard is a paradise for both pets and kids, with pet-friendly turf, a children's play set, and even a pomegranate tree! This home has strong bones and is ready for new owners to add their touch!

29619 N 60th Street Cave Creek, AZ 85331

$899,000
3 Beds
2 Baths
1,828 SqFt
Status Active
MLS # 6756706
Property Type Single Family Residence
Price Type --
Back on the market due to buyer's failure to perform. Santa Fe Style, 3 bedroom, 2 bath home. This horse property sits on a 49,484 square foot lot. Do you have horses? We have horse stalls, corrals, and runs. This home has been updated with new flooring, new HVAC(S), and a new roof. We also have city water which means you wont be sad because of a dry well or empty cistern. The pool has been replastered, new sand filter, and pool motor. Easy access to trails, Reach 11, schools, and shopping. This home sits on unincorporated land with no HOA so you have the freedom to do what you want with the land if horses are not your thing. Plenty of room for a multi generational life style or bed and breakfast/Airbnb.

3519 E Aspen Court San Tan Valley, AZ 85140

$899,000
4 Beds
2.5 Baths
2,577 SqFt
Status Active
MLS # 6773189
Property Type Single Family Residence
Price Type --
Luxurious Country Living with horse privileges! This exquisite 4 bedroom, 2.5 bath home is situated on a sprawling 1.4 acre irrigated lot with no HOA restrictions and a large open 4 car garage!! Upon entry, you are greeted with soaring 10' ceilings and an open concept floorplan that offers upgraded finishes throughout including; wood beams, upgraded lighting, shiplap wall accents, wood look tile, upgraded carpet and 5'' baseboards. The spacious kitchen offers not only elegance but functionality with an oversized kitchen island, quartz countertops, floor to ceiling shaker cabinets, induction cooktop, brick backsplash, custom hood and is equipped with beautiful stainless steel appliances including a large built-in refrigerator. Enjoy heading out to your property through the 12' multi panel sliding door.The large covered patio area overlooks the lush property that has been tastefully landscaped and has established grass that is flood irrigated. Bring your horses, toys, and enjoy the country living lifestyle while still being closely located to shopping, restaurants and schools.

15163 N 100th Way Scottsdale, AZ 85260

$899,000
5 Beds
3 Baths
2,542 SqFt
Status Active
MLS # 6776044
Property Type Single Family Residence
Price Type --
Welcome home to this stunning 5-bedroom, 3-bathroom property, perfectly situated in Scottsdale near restaurants, shopping, and parks! As you arrive, you'll be greeted by gorgeous curb appeal, a cul-de-sac lot, 3-car garage and beautifully manicured desert landscaping. Inside, the pristine interior features soaring ceilings, tile flooring, and a calming color palette. The living and dining area boasts dark wood flooring and convenient access to your private oasis of a backyard. This stunning backyard features a sparkling pool, surrounded by lush landscaping, turf lawn, and no homes behind for ultimate seclusion. The spacious patio is perfect for outdoor dining and gatherings, making it an ideal retreat for relaxation and entertainment. Complete with owned solar panels to keep the utility bills at a minimum. The oversized great room includes sliding doors that open to the outdoor space, complemented by charming bay windows in the breakfast nook. You'll love the kitchen, which showcases hardwood cabinets with crown molding, a mosaic backsplash, granite countertops, stainless steel appliances, and a center island. Retreat to the serene main bedroom, featuring plush carpeting, a cozy sitting area, and a luxurious ensuite bathroom complete with dual sinks, an enclosed steam shower, heated floors, a soaking tub, and a generous walk-in closet.

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