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.”

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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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8207 E Whitton Avenue Scottsdale, AZ 85251

$899,000
3 Beds
2.5 Baths
2,032 SqFt
Status Active Under Contract
MLS # 6750033
Property Type Single Family Residence
Price Type --
Welcome to this charming newly remodeled home! This cozy abode boasts a new HVAC system, pipes/plumbing, and roof, ensuring worry-free living. Inside, you'll find two master suites for ultimate comfort and convenience. A home security system, outdoor security cameras, and fire sprinklers offer peace of mind. Enjoy modern amenities like stainless steel appliances, an electric fireplace, and water softener system. The home also features new landscaping, a ruff house play system playground, and quartz countertops throughout. Entertainment is a breeze with a home theater/audio system and Control 4 system. Plus, shutters throughout add a touch of elegance. Don't miss out on this gem, located conveniently near the freeway, shopping, and dining!

14841 N 73rd Avenue Peoria, AZ 85381

$899,000
4 Beds
2.5 Baths
2,965 SqFt
Status Active Under Contract
MLS # 6763776
Property Type Single Family Residence
Price Type --
This spectacular custom home in the desirable Paradise West Estates, with no HOA, sits on just under half an acre with a large RV gate. The functional floor plan includes 4 bedrooms, 2.5 bathrooms, a spacious living room, a formal dining room, and a great room featuring a cozy stone gas fireplace. The bedrooms have new carpet, while slate tile flooring runs throughout the home. A remodeled guest bathroom is beautifully finished with quartz countertops and designer tile. The Owner's Suite is a true retreat, featuring a separate walk-in shower, soaking tub, walk-in closet, and a private exit to the patio. The home also boasts 2x6 wood construction, and upgraded insulation for enhanced energy efficiency. The outdoor space is truly a standout, featuring a firepit and an oversized pool with a rock water feature and large Baja step. The covered patio has an outdoor kitchen with a built-in gas BBQ, making it great for entertaining. A covered Ramada and outdoor shower add convenience and comfort, which is beautifully landscaped with grass and mature trees. Located just minutes from shopping, dining, entertainment, freeways, and top-rated schools, this is truly a place you'll want to make your own.

7625 N 177th Avenue Waddell, AZ 85355

$899,000
6 Beds
5 Baths
2,832 SqFt
Status Active
MLS # 6729064
Property Type Single Family Residence
Price Type --
This 2-acre equestrian property with flood irrigation features a 3-bedroom, 2-bath MAIN HOUSE and an attached GUEST HOUSE with 2 bedrooms, 2 baths, a full kitchen, a laundry room, and a private entrance. Additionally, there is a private EN-SUITE with 1 bedroom and 1 bath.The main house kitchen boasts upgraded granite counters, white cabinetry, stainless steel appliances, ample storage, a large walk-in pantry, and a kitchen island. The main living area features vaulted ceilings, an updated primary bath, spacious bedrooms, and a covered patio with a spa outside the primary bedroom, along with another large covered patio in the backyard. The property also includes a large sparkling POOL that is fully fenced and can be heated for the winter months. Detached shop 28' x 30' + Covered RV parking

17635 E Fort Verde Road Rio Verde, AZ 85263

$899,000 - 2Br/2Ba -  for Sale in Trilogy At Verde River Phase 3 - Unit 3a, Rio Verde
Open House
$899,000
2 Beds
2 Baths
1,948 SqFt
Status Active
MLS # 6766088
Property Type Single Family Residence
Price Type --
Discover your dream Home in the Heart of Rio Verde, Az. nestled in the prestigious Trilogy at Verde River Golf & Social Club, this stunning single family residence is a true gem waiting to be discovered. Built in 2017, this impeccable 2 Bedroom, 2 Bath home spans an impressive 1,948 Sq.Ft. and sits on a generous .26acre lot,offering breathtaking views of the open space and golf course. Step inside and be enchanted by the soothing custom decor that perfectly complements the home's open and inviting retreat The separate office, complete with built-in custom cabinets and elegant glass French Doors provides the ideal space for remote work or a quiet retreat. the heart of the home is the great room, where you will find and abundance of luxurious features,including GE Monogram appliances, recessed lighting, under counter lights and pendant lights that create a warm and inviting ambiance. The fully overlaid cabinet doors and drawers boast a soft close convenience, adding a touch of sophistication to the space The great foom seamlessly flows onto the patio through stunning multi-slide 9880 glass doors, blurring the lines between indoor and outdoor living. The primary ensuite is a true oasis. fraturing large view windows that showcase the majectic mountains and golf course. The room is adorned with custom Hunter Douglas window coverings, including blackout shades for untimate privacy and comfort. The ensuite bathroom is equally impressive, with 2 under mounted Koehler sinks and exquisit granite counter tops Throughout the home, you will find an array of high-end finishes, including custom 4x8 brick flooring, imperfect smooth walls, and 8 ft solid core doors. The custom window covering add a touch of elegance to every room, while the fully insulated walls ensure optimal energy efficiency and comfort. For added piece of mind, the home is equipped with a state of the art security system, allowing you to relax and enjoy your new sanctuary. Don't miss the opportunity to make this extraordinary home yours. With it's prime location in Trilofy at Verde River Golf & Social Club, you will have access to world-class amenities and a vibrant community. Experience luxury living at its finest in the heart of Rio Verde, Az. Plan a private visit today and prepare to fall in love with your new dream home.

14771 N 100th Way Scottsdale, AZ 85260

$899,000 - 5Br/3Ba -  for Sale in Parcel N Scottsdale Horizon, Scottsdale
Open House
$899,000
5 Beds
3 Baths
2,780 SqFt
Status Active
MLS # 6780628
Property Type Single Family Residence
Price Type --
Amazing Location..Great upscale Scottsdale neighborhood. Close to everything you would expect from the area. Spacious 5 bedroom 3 bath single family home on a premium lot. The private resort style backyard is perfect for relaxing or entertaining with a sparkling pebble-tec pool with waterfall, covered patio, fenced grassy area for kids and pets, RV gate with hookups, and stunning mountain and sunset views with no neighbors behind you. Conveniently located minutes from top rated schools, sports parks, shopping, dining, hospitals, golf, an aquatic center and easy access to the freeways. The oversized master suite with private balcony and 3 large secondary bedrooms are upstairs, with a 5th bedroom or office with full bath and multiple living areas on the main level. State of the art security system w/ smart mobile controllable features including thermostat, lights and security

102 E Eugie Avenue Phoenix, AZ 85022

$899,000 - 4Br/2Ba -  for Sale in Cresta Del Oro 2, Phoenix
Open House
$899,000
4 Beds
2 Baths
2,053 SqFt
Status Active
MLS # 6759847
Property Type Single Family Residence
Price Type --
OUTDOOR LIVING PARADISE! Resort style backyard with over $200,000 put into the backyard in 2022. Completely remodeled home in the desirable Moon Valley area. Corner lot with mountain views. Open floor plan with remodeled kitchen, bathrooms, flooring, and lighting. Perfectly manicured inside & out! The private backyard is ready for entertaining with new pool, sunken patio with TV, fireplace, refrigerator and grill. Additional gas fireplace for entertaining into the night. New putting green. New A/C units, newer hot water heater. Leased Solar. Great location close to restaurants, shopping, golf, and parks. Easy freeway access to the 51 and I17. Don't miss out on this one!

1037 W Ridge Road Apache Junction, AZ 85120

$898,990
4 Beds
3.5 Baths
3,251 SqFt
Status Active
MLS # 6726565
Property Type Single Family Residence
Price Type --
BR, 3.5 baths, enclosed office and enclosed tv room. 14-foot ceiling in family room with 16-ft multistacking SDG in family room leading to patio. Kitchen with 54-inch stacked cabinets with morel and white cabinets in kitchen. Stainless steel appliances with chimney hood. Tile backsplash to top of chimney hood. Dining room cabinets with floating shelves. All bathrooms with upgraded tile tub and tile showers. All bathrooms with upgraded quartz tops. The owners' bedroom with 14-foot ceilings and wall of windows. Includes super shower with upgraded tile work and rain can. Door leading to utility room. Full cabinets with sink. 4-car garage.

10418 E Morning Star Drive Scottsdale, AZ 85255

$898,800 - 3Br/2Ba -  for Sale in Mcdowell Mountain Ranch, Scottsdale
Open House
$898,800
3 Beds
2 Baths
1,548 SqFt
Status Active
MLS # 6779922
Property Type Single Family Residence
Price Type --
Step into modern elegance as your enter this beautifully remodeled home in McDowell Mountain Ranch. Walls were removed to make this floorplan open & bright. The heart of the home, a sun-drenched kitchen, is a culinary dream featuring marble countertops, a high-end Bertazzoni gas range and custom hood, stainless appliances and all-new white shaker cabinets adorned with stylish gold hardware and lighting. The breakfast bar and dining area seamlessly blend into the main great room with chic linear fireplace and shiplap surround. 2 bedrooms & 2 baths + office with modern glass slider door offers a private workspace adjoining the great room. All new floors, baseboards, fixtures throughout. Charming backyard with extended covered patio, pristine turf & view fencing backs to wash. Owned Solar! **SEE LIST OF UPDATES IN DOCUMENTS** Award winning McDowell Mountain Ranch is a premier master planned community located in North Scottsdale. Situated at the foothills of the McDowell Mountains, enjoy the beautiful desert serenity yet also have all the conveniences of living in-town just outside the neighborhood. The 101 Freeway is 5 minutes away, as well as restaurants, shopping, groceries, and so much more! This friendly neighborhood features 2 heated community pools/spas, playgrounds, basketball courts, tennis courts, and one of the best Pickleball leagues in town! The HOA hosts several events throughout the year for everyone to enjoy and connect with neighbors. Numerous trails, both paved & unpaved that meander throughout the community. McDowell Mountain Golf Club, designed by Phil Mickelson, with the clubhouse & restaurant, is open to the public. The City of Scottsdale Aquatic Center w/Lazy River & Library is close by, in addition to miles and miles of hiking, biking & equestrian trails at the landmark Gateway to the McDowell Sonoran Preserve trailhead.

2501 N 81st Way Scottsdale, AZ 85257

$898,500
3 Beds
2 Baths
1,962 SqFt
Status Active Under Contract
MLS # 6709035
Property Type Single Family Residence
Price Type --
MAGNIFICENT, FULLY FURNISHED MID-CENTURY MODERN! This exquisite Scottsdale estate features four functional rooms, all equipped with beds, 2 full baths, open kitchen space overlooking remodeled backyard. Large chef's kitchen boasts stainless steel appliances, granite countertops & massive island. Wood plank tile flooring and new paint t/o, upgraded dual pane windows and modern accents, make this home feel brand new! Backyard has just undergone a full remodel with a new pebble tech pool, custom mural, and many spaces for entertaining inside and out! You'll love that this home boasts an interior laundry room and 2 car covered carport. All of this is just a bike ride to Old Town Scottsdale with endless opportunities for shopping, dining, and entertainment!

770 S Ocean Drive Gilbert, AZ 85233

$898,000
4 Beds
3 Baths
2,757 SqFt
Status Active Under Contract
MLS # 6777499
Property Type Single Family Residence
Price Type --
This is it! Stunning Single Level Waterfront Home with a 3-car garage in the Highly Desirable Islands Lakes Community. Walk through the Front Door and you will be Wowed with the Waterfront Views. Spacious and Open Floorplan Cathedral Ceilings Plantation Shutters. This Waterfront Home is Perfect for Relaxing and Entertaining inside and out. Kitchen has Granite Counters Built-in Ovens, Cooktop and Microwave and large Pantry. Primary Bedroom is Huge with walk in Closet next Exit to EXTENDED 18 FT.COVERED PATIO with fantastic views from your Waterfront Oasis. Covered Patio and a Boat Dock where you can kayak, or go fishing right in your very own backyard. Live a unique lifestyle in this wonderful waterfront community! Make sure not to miss it!

2325 E Beachcomber Drive Gilbert, AZ 85234

$898,000
4 Beds
3 Baths
3,425 SqFt
Status Active
MLS # 6736562
Property Type Single Family Residence
Price Type --
Location location! Gorgeous remodel! Welcome to your dream home located on a corner lot in Val Vista Lakes community! A perfect blend of luxury and comfort. Soaring vaulted ceilings that enhance the spacious feel of the grand foyer and formal dining area, large main room with a dramatic fireplace as the centerpiece. Entertain effortlessly with the stylish wet bar. Upscale fixtures and lighting throughout the home. The eat-in kitchen is a highlight, featuring stainless steel appliances, new cabinets, elegant quartz countertops, a generous pantry and large center island plus dining area. Upstairs, you'll find a sizable loft media room that offers versatile space for relaxation or play, a hidden playroom in an upstairs bedroom and reading area. Retreat to the luxurious primary bedroom, where tranquility awaits. Enjoy direct access to the backyard oasis along with an upscale ensuite bathroom that features dual sinks, a standalone soaking tub, and walk-in closet. The downstairs bonus room can serve as a gym, office, or other function that suits your lifestyle. Outside is your private paradise! A lush grass front yard. The backyard includes a huge covered patio, beautiful paver decking, ramada, and lap pool, perfect for entertaining! Don't miss your chance to own this stunning home!

20144 E Rosa Road Queen Creek, AZ 85142

$898,000
6 Beds
4.5 Baths
4,402 SqFt
Status Active
MLS # 6744335
Property Type Single Family Residence
Price Type --
Discover your dream home in this highly upgraded 6-bedroom, 4.5-bath oasis! This spacious residence boasts a stunning open floor plan, perfect for both entertaining and comfortable family living. Step into a beautifully designed kitchen featuring modern appliances, elegant countertops, and ample storage, seamlessly flowing into a generous living area. Retreat to the luxurious primary suite, complete with a spa-like en-suite bath and walk-in closet. Outside, enjoy your private paradise with a sparkling pool, ideal for relaxing or hosting summer gatherings. With thoughtful upgrades throughout and plenty of room to grow, this home is a rare find that combines luxury and functionality. Don't miss the opportunity to make this exquisite house your HOME!

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