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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1694 E Azafran Trail San Tan Valley, AZ 85140

$869,000 - 2Br/3Ba -  for Sale in Encanterra, San Tan Valley
Open House
$869,000
2 Beds
2.5 Baths
2,667 SqFt
Status Active
MLS # 6744546
Property Type Single Family Residence
Price Type --
Is an oversized, park-view lot on your list of must-haves? This Tarragona floorplan home in Encanterra Country Club is a rare find. Situated on one of the larger premium lots, it boasts spectacular park views and a sense of privacy that's hard to match. The spacious backyard retreat is a true oasis, featuring lush landscaping, gorgeous tile work, a water feature, and striking fire columns and brand new BBQ! Inside, the home offers 2 bedrooms and a den with a Murphy bed that can easily serve as a third bedroom. The master suite includes a unique multi-purpose 'smart room' that functions as a laundry room and a secret room, offering additional flexibility as a potential bedroom. The home is designed with storage in mind, providing full cabinetry throughout. The gourmet kitchen is a chef's dream, complete with two gigantic kitchen islands. The great room is perfect for entertaining, featuring a built-in bookcase and TV stand. The spacious courtyard with a fireplace provides a cozy outdoor space with park views, perfect for relaxing or entertaining. Adding to the home's appeal, it includes owned solar panels and an air-conditioned garage with EV charging! Home features surround sound and commercial grade redone landscape lighting. The Encanterra community itself offers an amazing lifestyle with a top-notch golf course, community center with gym resort-style pools, restaurants, and a wine bar. Experience one of the finest lots for privacy and magnificent views in this exclusive community. This Tarragona home truly offers the best of luxury living in Encanterra.

5923 N 83rd Lane Glendale, AZ 85305

$868,632
6 Beds
4 Baths
4,517 SqFt
Status Active
MLS # 6782503
Property Type Single Family Residence
Price Type --
MLS#6782503 January Completion! Model Home! The Acadia at Stonehaven Voyage presents a spacious 6-bedroom, 4-bath home. A charming front porch welcomes you into an impressive foyer, which leads to a formal dining room. Adjacent to the foyer is a cozy guest bedroom with a walk-in closet and a full bath for added convenience. The expansive kitchen island overlooks the casual dining area and great room, creating an ideal space for entertaining. The luxurious owner's suite boasts a spa-inspired bath and two walk-in closets. Upstairs, you'll find 4 additional bedrooms along with a generous game room. Structural options include: Bedroom 7 with bath 5 in place of study, multi-slide door at gathering room and double gate.

1788 W Brooke Lane Queen Creek, AZ 85144

$868,000
5 Beds
4 Baths
2,882 SqFt
Status Active
MLS # 6780893
Property Type Single Family Residence
Price Type --
Luxury custom built home on 1 1/4 acres on hill top with amazing 360 degree views. 5 bdrms. with private entrance for mother -in-law ensuite bdrm beautiful custom cabinitry on entertainment wall in great room, custom drawers and shelves in master closet. 2 X 6 walls with spray foam insulation including in garage. 60'' fridge and freezer, oven combo with air fryer, and pot filler over range, farm house sink and quartz counter tops to compliment the beautiful kitchen and breakfast room. 400 amp power panel, can be ready for a casita or RV work shop. Enjoy all of the advantages of this beautiful custom home with no HOA with plenty of room for horses, or all of your recreational toys. Floor plan and elevation is availeabel under the documents tab.

15436 E Sunburst Drive Fountain Hills, AZ 85268

$868,000
3 Beds
2.5 Baths
2,469 SqFt
Status Active
MLS # 6754039
Property Type Single Family Residence
Price Type --
Beautiful custom home with no interior steps and $40k in upgrades. This picturesque street enchants with its meticulously designed homes, and breathtaking Four Peak mountain views. As you enter you will fall in love with the beautiful, new iron glass door and the soaring vaulted ceilings. The upgraded kitchen boasts granite countertops, decorative tile backsplash, pull out drawers, stainless appliances, a wall oven/microwave, new RO system and a walk-in pantry. The spacious master is the perfect retreat featuring a jetted soaking tub, separate shower and its own private patio. Enjoy your morning coffee on the huge, covered deck with a stunning view of Four Peaks! The 2.5 car garage is wider and deeper then most with an insulated door. Live the Fountain Hills life you have dreamed of here.

26812 N 161st Street Scottsdale, AZ 85262

$867,950
4 Beds
3 Baths
3,458 SqFt
Status Active
MLS # 6713041
Property Type Single Family Residence
Price Type --
Discover the luxury in this 3,458 square foot single-story home, perfectly situated on a sprawling acre lot in the city of Scottsdale. This expansive acre lot provides both beauty and privacy. The highlight of the outdoor space is the pool and patio area with an outside BBQ and fireplace, perfect for relaxing and entertaining under the Arizona sun. There is plenty of space for those with recreational vehicles or needed additional storage space. There is even room for a horse facility or an additional building. Completely fenced, it offers privacy and security. The open-concept layout is accentuated by high ceilings, elegant flooring, and an abundance of natural light, creating a warm and inviting atmosphere. A spacious floor plan seamlessly connects the living spaces, making it perfect for both everyday living and entertaining. Large windows frame stunning views of the surrounding landscape from the great room, with its large fireplace and custom built-ins making it a perfect spot for relaxation and casual gatherings. The heart of this home is undoubtedly the chef's kitchen which opens to the great room and is outfitted with top-of-the-line appliances, including a Viking Pro Stove plus wall oven and a spacious refrigerator. An oversized island provides ample prep space and doubles as a breakfast bar, perfect for casual dining and socializing. The kitchen also features a walk-in pantry and plenty of storage, ensuring that all your culinary needs are met. The custom cabinetry, granite countertops, and stylish backsplash add a touch of elegance and sophistication. This kitchen is equipped to handle everything from everyday meals to gourmet feasts. The property shares a well with two other parties. No high water bills to deal with. Two, new in 2022, four ton heat pumps and extremely low electric bills due to the mini splits, provide comfort year round. The roof was new in 2022. Seller is open to doing any REHAB UPGRADES OR REPAIRS you require. The primary suite is a true retreat, offering a spacious bedroom, a walk-in closet, and a spa-like ensuite bathroom. Relax and unwind in the luxurious soaking tub. Three additional bedrooms plus two additional baths, provide plenty of space for family and guests. This home is equipped with a host of additional features that enhance its appeal and waiting for you to discover! With its luxurious upgrades, spacious layout, and prime location, this Scottsdale home is a rare find. The good news is, the motivated seller is ready to make a deal, so don't miss your chance to own this exquisite property.

Glendale AZ 85306

$865,000
8 Beds
4 Baths
2,712 SqFt
Status Active
MLS # 6768229
Property Type Single Family Residence
Price Type --
Discover a lucrative investment opportunity at 6008 W Paradise Lane - once a thriving sober living recovery center could also be a great assisted living home. This turnkey property boasts a charming 2,750-square-foot commercial house, 8bdrms, 4 baths, can accommodate up to 10 beds. Nestled on a spacious .25-acre lot. This gem offers modern appliances, a stunning outdoor deck and gazebo, and convenient accessibility features. This is ready for an owner operator or investor so you can put a tenant in place with 3% annual rent increase. Don't miss out on this ROI-driven venture!

28968 N Phoebe Place Queen Creek, AZ 85142

$865,000
5 Beds
4 Baths
2,882 SqFt
Status Active
MLS # 6659276
Property Type Single Family Residence
Price Type --
PRICE REDUCED 34 K Beautiful new custom home is now complete. This home has so many extras, 400 Amp power panel ready for a casita RV Garage 2'' X 6'' walls with spray foam insulation including the garage. Upgraded 42'' cabinets to the ceilings, 60'' fridge and freezer, oven combo with air fryer. Quartz counter tops with farm house sink to compliment this amazing kitchen and breakfast room. 5 Bedrooms with private entrance to Mother-in-law bedroom with en suite handicap accessable shower. Enjoy all of the advantages of this beautiful Custom home with no HOA with plenty of room for your horses, a casita and all of your recreational toys. This amazing dream home is finally completed ready for you and your family, (Floor Plan and Elevation of the home is available under the document

9450 N 83rd Place Scottsdale, AZ 85258

$865,000
3 Beds
2 Baths
1,865 SqFt
Status Active
MLS # 6753959
Property Type Single Family Residence
Price Type --
Welcome to Scottsdale's premier McCormick Ranch community! This exceptional home is situated on a large corner lot with a deep pool and picturesque mountain views. You will be greeted by the home's vaulted ceilings, creating a bright and open atmosphere. Plantation shutters are thoughtfully installed in every room, adding timeless elegance while offering privacy and light control. With Mountain View Park across the street you have quick access to walking, biking, trails, and golf courses.

8224 E Virginia Avenue Scottsdale, AZ 85257

$865,000
3 Beds
2 Baths
2,167 SqFt
Status Active
MLS # 6773017
Property Type Single Family Residence
Price Type --
Light, bright, and beautiful! This move-in ready residence feels like luxury and is quality finished with timeless features. Clean lines and modern, the gourmet kitchen opens to a massive great room including wet bar and formal dining. Natural light throughout, and boasting three generous sized bedrooms plus a bonus room. Enjoy spacious backyard perfect for entertaining complete with pool, extended paver patio, and turf area. Fabulous Scottsdale location nearby hiking, shopping and dining favorites!

119 W Courtney Lane Tempe, AZ 85284

$865,000
4 Beds
2.5 Baths
2,681 SqFt
Status Active Under Contract
MLS # 6772462
Property Type Single Family Residence
Price Type --
Welcome to this gorgeous 4-bedroom, 2.5 bath home, located in the highly sought-after, Warner Ranch Estates, one of Tempe's finest Master Planned community. Upon entering you will see an open concept with vaulted ceilings and modern tile floors. The kitchen has been updated with beautiful cabinets, center island and granite countertop. There is an eat-in kitchen along with a formal dining room. The large primary bedroom offers an ensuite with a gorgeous custom shower, duel custom wardrobe, a linen closet and a private exit to the back yard. The other 3 bedrooms have plantation shutters and custom closets. Step into the lush backyard with mature citrus and fig trees. Walking distance to schools, stores and restaurants.Warner Ranch offers walking trails, parks and a community pool.

38500 N School House Road Unit 43 Cave Creek, AZ 85331

$865,000
3 Beds
2 Baths
2,292 SqFt
Status Active
MLS # 6711538
Property Type Single Family Residence
Price Type --
THIS IMMACULATE HOME IS PRICED TO MOVE! Come take a look at this 2022 newly built home that is highly upgraded with over $190,000 in upgrades and landscaping! The Chef's Kitchen feature's GE Monogram Appliances, huge Waterfall Granite center island, extended cabinets with interior lighting and under cabinet lighting in multiple areas. Home has 3 bedrooms, 2 bathrooms and a den/office. Custom flooring throughout finishes off this fantastic home. Garage has new Epoxy floors. There is a community pool, spa, firepit, and pickleball court. Minutes to downtown Cave Creek featuring, Harolds, Buffalo Chip and tons of shopping. Only 30 min to Sky Harbor International Airport. It doesn't get much better than this! Come see this beautiful home before it is gone!

19422 N 67th Lane Glendale, AZ 85308

$865,000
5 Beds
3.5 Baths
3,988 SqFt
Status Active
MLS # 6738109
Property Type Single Family Residence
Price Type --
Stunning Arrowhead Ranch home w/ huge pool & lush landscaping! Nestled at the top of cul-de-sac, this impressive 3,988 sq ft home sits on over a 1/3 acre w/ 2x6 construction. Fresh white interior paint! It features five spacious bedrooms and 3.5 updated bathrooms. The primary bathroom shower has multiple body sprayers & free standing tub. The expansive game room offers surround sound, wet bar, a custom wormy oak ceiling, space for a pool table & views and access to the pool. The kitchen cabinets are Sapele wood & have sturdy pullouts in all lowers, granite countertops, Kitchenaid & Bosch appl. The beautifully refinished pebble tec diving pool has a new variable speed pump. Backyard has a small orchard w/ citrus & pomegranate trees, a cactus garden & plant covered gazebo! Low HOA fees The family room has a stone wood burning fireplace, new carpet and surround sound. Large windows with views of the pool and lush green yard. First floor has oak wood flooring in kitchen and traffic areas. All bedrooms are upstairs and there is a desk study area in the hall. The desk and cabinets are mahogany wood. There are 2 staircases in the home which if needed could divide the home into 2 living areas. There are 3 a/c units and 2 water heaters. This is a MUST SEE home to appreciate. All bathrooms have been fully updated. Laundry room is located upstairs with the bedrooms. Both stairways have custom wood railing and spindles. Garage has separate space for storage or for a dedicated workshop. The cactus garden includes valuable mature organ pipe cactus and a large saguaro along with a well-located cozy private seating area. In addition to very low traffic in the cul-de-sac itself, its smaller street front footage creates additional highly usable space in the back yard leaving a comfortable grass area and a brick patio off the dinning room. Swimming pool has a 10' deep diving well. The pool includes a large shallow shelf ideal for small children or for a space for adults to hang out. Pool also has a Bahia shelf and ample bench space. Pool is 46' long down the center, which allows its use to swim laps. The location is so convenient to the 101, Costco, fine and casual dining, Arrowhead Hospital and the New Phoenix Children's Hospital. Arrowhead is a golf community with Arrowhead Country Club just down the street. Residents can join for a fee, which includes tennis, pool & a gym. Original owners have kept this home beautiful! Note: Artwork in the primary bathroom does not convey.

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