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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7296 E San Alfredo Drive Scottsdale, AZ 85258

$860,000 - 2Br/3Ba -  for Sale in Gainey Village Casitas, Scottsdale
Open House
$860,000
2 Beds
3 Baths
2,218 SqFt
Status Active
MLS # 6779525
Property Type Townhouse
Price Type --
Beautiful Gainey Village Casita Viento floorplan. Former model with 2 bedrooms, 3 baths, office/den with built ins. Granite slab designer fireplace, slate floors downstairs, hardwood upstairs. Wonderful kitchen with white cabinetry, double ovens and subzero refrigerator. Granite island and countertops ,soft close drawers, informal eating area . Upstairs includes a loft. Spacious primary bedroom with crown molding and primary bathroom with newer shower. Guest bedroom with full bath. Walk through French doors to a delightful yard with a beautiful fountain Greenbelt behind so no home behind you! One of the best casita lots! Mature landscaping plus lovely fountain. Near community pool /spa and pedestrian gate to go to restaurants , shops a few steps away . Great location!

1 Easy Street Unit 15 Carefree, AZ 85377

$859,999
2 Beds
2.5 Baths
1,847 SqFt
Status Active
MLS # 6703167
Property Type Townhouse
Price Type --
This stunning contemporary 2 Bedroom, 2.5 Bath with a Den that can be used as an Office or a 3rd Bedroom is artfully centered in upscale, artsy, downtown, Carefree. From the moment you enter, you'll be captivated by unobstructed mountain views, and the luxurious finishes to impress the most discerning buyers.Enjoy the beauty of mountain views without compromising on convenience. On property amenities include, heated pool and spa, covered ramadas with bbq grills, seating areas, fire table, bocce ball court, & putting green. You'll enjoy the quiet and peaceful beauty of Carefree and be just steps away from urban amenities, world class dining, shopping, gourmet groceries, art galleries, golf, hiking, biking, spa's, and more, this is your opportunity to enjoy the best of both worlds! $45,000 in Upgrades: Bosche Stainless Steel Appliances including 5 Burner Gas Cooktop, Wall Oven, Microwave, Dishwasher, French Door Refrigerator with lower drawer Freezer Metal Cable Railing System Electrical Upgrades Marble Island and Countertops Granite Countertops Custom Cabinetry Come see how sweet life can be at The View Carefree!!!!

17149 E El Pueblo Boulevard Fountain Hills, AZ 85268

$859,990
4 Beds
2.5 Baths
2,896 SqFt
Status Active
MLS # 6657609
Property Type Single Family Residence
Price Type --
Two houses on one property! (CALCULATED PRICE PER SQ. FT. INCLUDING THE GUEST HOUSE IS APPROXIMATELY $300 per sq. ft.)! The main house is 2096 sq. ft. Downstairs features a high-ceiling spacious living / dining room; a fully appointed kitchen with appliances, a family room with access to the two-car attached garage, and two bedrooms sharing a bathroom. The upstairs quarters is wall to wall tiled, with an En Suite master bedroom, newly remodeled bathroom, a walk-in closet, and a balcony with amazing views of the mountains. Access to the back yard is through two side gates, one that can accommodate an RV and the other to reach the guest house. The main house has two central air conditioning units. The master bedroom suite in addition has a new mini split A/C. Casita: The Guest House is 800 sq. ft. Newly completed, the one-bedroom / bathroom wall-to-wall tiled guest house has a functional and efficient floor plan with a spacious living area, electric fireplace, full size kitchen with appliances, a large master bedroom, a closet with sliding mirrored doors, as well as a walk-in closet. The bathroom is tiled to ceiling with an exquisite crystal counter top lighted vanity. The laundry room includes a sink, washer and dryer. A private concrete driveway leads to the guest house with paved parking for multiple cars. Air conditioning is handled by a 3-ton four zone ductless split unit. The backyard has plenty of room for placing a swimming pool and spa or RV parking. This property affords great living opportunities for anyone looking for separate living quarters, including the possibility of generating rental income by living in one and renting the other. Supermarket shopping or Fountain Lake are a mile away, and freeway access is convenient and easy through scenic Ft. McDowell reservation route without having to drive through town!

2527 E Russell Street Mesa, AZ 85213

$859,900
3 Beds
3 Baths
2,612 SqFt
Status Active
MLS # 6782098
Property Type Single Family Residence
Price Type --
Sweet oversized Corner Lot with a 8Ft side gate and nobody directly behind you! Does a 4-car garage sounds amazing? Toys, Cars, Boats, you name it this garage is a buyers dream. This move in ready has quality designer finishes and upgrades throughout. Open great room concept with a huge kitchen island plus a Butler's pantry! Surrounded by the wall of glass in the great room this is a home to see. Tired of all white cabinets and kitchens? This eclipse-colored cabinet finished off with white quartz is stunning! Furniture does not convey and is for staging purposes only.

30619 N 63rd Street Cave Creek, AZ 85331

$859,900
4 Beds
2.5 Baths
2,087 SqFt
Status Active
MLS # 6712114
Property Type Single Family Residence
Price Type --
If your looking for privacy & a completely remodeled home with mountain views, desert surroundings & a pool this is the home for you! Sitting on an acre plus lot with a covered RV slab & connections, fenced pool area, grass yard with plenty of space to add a guest house, garage or you name it, the possibilities are endless. Alder wood cabinets throughout, plank tile flooring, brick surround showers & fireplace with barn wood accents. Granite countertops, vaulted ceilings, kitchen pantry & extended length garage w/ large laundry room. Expansive covered patio, brick pavers surrounding the pool area for outdoor entertaining. All new fixtures throughout, hammered copper farmhouse sink, stainless steel backsplash, custom built range hood, pool has in ground maintenance free cleaning system.

7855 E Kramer Street Mesa, AZ 85207

$859,900
3 Beds
2.5 Baths
2,989 SqFt
Status Active
MLS # 6749630
Property Type Single Family Residence
Price Type --
Welcome to your dream desert-style retreat! This stunning home offers the perfect blend of luxury and comfort, nestled on nearly half an acre of beautifully landscaped land. As you step inside, you'll be greeted by the spacious, sun-drenched living room with vaulted ceilings that create an airy, open feel throughout the home. The master bedroom is a true sanctuary, boasting ample space and an en-suite bathroom designed for relaxation. From the large windows that flood the home with natural light to the gorgeous brand-new Samsung appliances in the kitchen, including a sleek fridge, stove/oven, and microwave, to the backyard perfect for families, events, and relaxation to enjoy your private outdoor oasis, featuring a beautiful swimming pool and hot tub, perfect for sunset watching.

11203 N Northfield Street Surprise, AZ 85388

$859,900
3 Beds
2.5 Baths
2,503 SqFt
Status Active
MLS # 6763447
Property Type Single Family Residence
Price Type --
Amazing move in ready golf course home, nestled in the highly coveted gated adult community of Sterling Grove with all the upgrades. This one is among the nicest you will find in Sterling grove and one of the best deals in the neighborhood! Just some of the upgrades include gray shaker cabinets, quartz countertops, chefs kitchen with upgrades SS appliances, incredible master suite with huge walk in shower, and more! The great room/kitchen/dining is an entertainers dream that flows through the wall of glass sliders to the amazing backyard complete with pool/spa. Under the lovely covered patio you will find your self in paradise sitting pool side with a perfect view of the 11th hole. This community includes amenities such as a golf course, fitness center, restaurant, 3 pools, and so much more. An absolute must see!

7566 W Gelding Drive Peoria, AZ 85381

$859,900 - 3Br/4Ba -  for Sale in Bella Pasa, Peoria
Open House
$859,900
3 Beds
3.5 Baths
2,531 SqFt
Status Active
MLS # 6660598
Property Type Single Family Residence
Price Type --
** QUICK MOVE-IN HOME*** On an 8,048 sq/ft lot sits a beautiful 2531 sq/ft home. nestled in a small, gated enclave. 3 bedrooms, 3.5 bathrooms including a multi-gen suite!! The 3rd bedroom is extended measuring 15X13.5!! WOW. It's like having 2 master bedrooms. 10' ceilings, 8' doors, a gourmet kitchen with LG appliances including wall ovens, huge multi-sliding glass doors, custom low volt, and electrical packages. Pecan 66'' cabinets, oversized island with quartz counters, wood look plank tile; custom front yard landscaping that includes a paver driveway. All selections have been completed. 3-car split garage.

20218 E Palm Beach Drive Queen Creek, AZ 85142

$859,500
4 Beds
2 Baths
2,350 SqFt
Status Active Under Contract
MLS # 6736094
Property Type Single Family Residence
Price Type --
**The seller is offering $10,000 to help with a rate buy-down and/or new flooring and paint—your choice! Customize the home to make it truly yours, or use the funds to reduce your monthly payments. *Back on the market do to buyers contingency expired and they were not able to sell there home! **Experience the allure of this stunning horse property situated on over 1 acre in Queen Creek, with no HOA—so you can bring all your toys! This home features a spacious 4-car garage and an RV gate, setting the stage for endless possibilities. Step inside to find an inviting interior adorned with beautiful tile flooring, soaring vaulted ceilings, a soothing color palette, recessed lighting, and an abundance of natural light.

Rio Verde AZ 85263

$859,000
2 Beds
2 Baths
1,544 SqFt
Status Active
MLS # 6644064
Property Type Single Family Residence
Price Type --
Located in the heart of prestigious Trilogy at Verde River, this stunning Resort Collection home has it all!! It is highly upgraded and sits on one of the most spectacular Homesites in the Resort Collection Section of the Trilogy Community. Relax and enjoy the panoramic views of the Lake and the Golf Course!

17632 E Chevelon Canyon Circle Rio Verde, AZ 85263

$859,000
2 Beds
2.5 Baths
1,679 SqFt
Status Active
MLS # 6750451
Property Type Townhouse
Price Type --
MAJESTIC VIEWS AND RESORT LIVING IN THE LUXURIOUS STYLE AWAIT A MOST SOPHISTICATED OWNER! This elegant home built in 2020 is perfectly located in the Resort Section of the prestigious Trilogy at Verde River. This highly sought after Valetta floor plan is thoughtfully laid out and boasts a Great Room open concept, 2 bedrooms, 2.5 bath and spacious DEN with Barn Doors. This gorgeous home provides countless upgrades throughout. The Gourmet Kitchen is the centerpiece of the home with an oversized island, all Stainless Steel Kitchen Appliances, pantry and stunning white cabinets. Sliding wall of glass off the Great Room opens to the extended patio for outdoor entertaining and brings in natural light to show off the tastefully appointed decor. Primary Suite is generously sized and offers a walk-in closet, double sinks and a walk-in shower. This exquisite home provides Resort Lifestyle at it's finest! Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?

17615 E Bismark Lake Court Rio Verde, AZ 85263

$859,000
2 Beds
2.5 Baths
1,679 SqFt
Status Active
MLS # 6752228
Property Type Twin Home
Price Type --
ENJOY THE VIEW FROM THIS SOUGHT AFTER GOLF COURSE LOT ON THE GREEN OF THE 1ST HOLE AT TRILOGY VERDE RIVER GOLF RESORT. This beautiful upgraded 2-bedroom Valetta model has an office/den that can be an extra sleeping area for guests. This home is meticulously maintained with impressive views. Gorgeous kitchen with Upgraded Monogram Appliance Package, upgraded cabinets, backsplash, quartz island and pantry. Spacious great room with custom built in bar and multi sliding door perfect for enjoying the golf course views from the extended patio. Well-appointed primary suite with an luxurious shower, quartz counters, custom mirror and walk in closet. Epoxy-coated 2 car garage. Vibrant Desert Landscaping radiates both front and back. Don't miss this Rare opportunity to purchase this amazing home.

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