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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18856 E Aubrey Glen Road Queen Creek, AZ 85142

$842,188
3 Beds
3.5 Baths
3,130 SqFt
Status Active
MLS # 6625124
Property Type Single Family Residence
Price Type --
MLS#6625124 VIRTUALLY STAGED PHOTOS ADDED. Welcome to Belmont at Legado Summit! This grand 1-story home is greets you with a porch that leads into a spacious foyer. As you enter, you'll find yourself in an open-concept area that seamlessly combines the kitchen, great room, dining room, and a covered patio. On one side of the home, there is a2-car garage, 2 bedrooms with ensuite full bathrooms, and a storage room. On the other side, you'll find a 2-car garage, laundry room, and a luxurious primary suite. The primary suite boasts a spacious bedroom, a beautiful bathroom & walk in closet. Structural options include: RV gate in backyard, multi slide door at great room, 2 car garage addition, re-plumb for future utility sink and laundry and garage, and gas line for future outdoor kitchen.

22631 E San Tan Boulevard Queen Creek, AZ 85142

$841,990 - 3Br/3Ba -  for Sale in Harvest Queen Creek Parcel 2-6, Queen Creek
New
$841,990
3 Beds
2.5 Baths
3,131 SqFt
Status Active
MLS # 6784636
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Enchantment Series is nestled in a private gated enclave within the popular Harvest community, just steps from swimming pools, a catch-and-release lake, and a beautiful park. Enjoy the perfect balance of tranquility and convenience, close to shopping and entertainment. The home features an oversized kitchen with a spacious island and pantry, ideal for hosting or simply unwinding. Its entertainer's dream layout includes an expansive L-shaped patio, perfect for indoor-outdoor living. Don't miss this exceptional opportunity.

9114 E Clubhouse Court Scottsdale, AZ 85266

$840,000
2 Beds
2 Baths
1,631 SqFt
Status Active
MLS # 6771867
Property Type Single Family Residence
Price Type --
Charming Boulders villa presents a fabulous opportunity for either a rental property investment, or a tremendous private residence at a rare price point in the community. Home boasts two primary suites, each spacious with en suite bath, one with patio access. Kitchen is open and bright flowing into living room with handsome fireplace, plenty of space for dining as well. Ceiling detail is warm with handsome vigas, living area Saltillo tile throughout main living space and zero interior steps at the residence. Private patio is poised to take in sunset views. Furniture is available, community pool and spa are included with the HOA.

14674 W Pasadena Avenue Litchfield Park, AZ 85340

$840,000
5 Beds
4.5 Baths
3,910 SqFt
Status Active
MLS # 6772144
Property Type Single Family Residence
Price Type --
Prepare to be wowed by this ABSOLUTELY GORGEOUS former model home in Litchfield Park! This stunning 5-bedroom, 4.5-bath beauty boasts 3,910 sq. ft. of thoughtfully designed living space, including a spacious great room, formal dining area, and a versatile downstairs den that can serve as an office, playroom, or workout space. An additional upstairs loft provides even more flexible living options! Perfect for guests or multi-generational living, the one-bedroom suite on the main level includes a private bath and kitchenette for added convenience. The gourmet kitchen is a chef's dream, featuring elegant cabinetry, granite countertops, a gas cooktop, stainless steel appliances, a wide island with a breakfast bar, a convenient butler's area in the kitchen and a massive walk-in pantry, this home offers both style and expectational storage solutions. Step outside through the beautiful glass sliding doors into a low-maintenance backyard oasis with a paver patio, outdoor kitchen, artificial turf, fire pit, and a pergola-covered sitting area ideal for relaxing or entertaining. Upstairs, you'll find a luxurious primary retreat with dual vanities, a spa-like separate tub and shower, plus three additional bedrooms. All bedrooms feature spacious walk-in closets, and the abundance of storage throughout the home is truly unbeatable. This home is perfectly located near the Loop 303 and I-10 freeways, offering easy access to tons of shopping, entertainment, hiking, and biking trails. This is truly a great place to live!

491 E Twelve Oaks Drive Flagstaff, AZ 86005

$840,000
4 Beds
3 Baths
2,049 SqFt
Status Active
MLS # 6772013
Property Type Single Family Residence
Price Type --
This house has it all! Standing tall with spectacular views, adorned with mature ponderosa and blue spruce, a lush backyard, and the perfect front porch for rocking chairs. Inside, you're welcomed with a warm stone fireplace, new light fixtures and new cohesive flooring throughout. The kitchen boasts stainless steel Frigidaire appliances, new disposal, new quartz countertops and stylish backsplash. Vaulted ceilings in the primary bedroom lit by chandelier gives an opulent vibe, doubled by the gas fireplace to set the tone just right for those lazy Sunday mornings. A full en suite is ready to host your next spa-like experience with soaking tub, dual sink and glass block for privacy. The extra large fourth bedroom above the garage can double as a second living room, playroom, hobby room or guest space. New windows! Secure an offer today and move in by the holidays!

4115 E Catalina Drive Phoenix, AZ 85018

$840,000
4 Beds
3.5 Baths
2,392 SqFt
Status Active Under Contract
MLS # 6774084
Property Type Single Family Residence
Price Type --
Enjoy upscale living with this stunning home, ideally located near top shopping and dining destinations! The home's striking exterior welcomes you with mature trees, lush landscaping, sleek concrete pavers, a two-car garage, and a charming front porch. Step inside to a beautifully crafted open floor plan, where a bright living and dining area is flooded with natural light through expansive windows. The family room seamlessly connects to the gourmet kitchen, featuring premium stainless steel appliances, ample white cabinetry, and a quartz waterfall island. The luxurious primary suite provides a peaceful escape, complete with a spa-like bathroom, dual vanities, a walk-in closet, and direct access to the backyard. The additional bedrooms offer soft carpeting for ultimate coziness. Outside, relax or entertain in the expansive backyard, which includes a covered patio, a putting green, mature trees, and a detached space ideal for a home office or studio. Plus, there's even a separate workshop! This property is an unbeatable find!

1512 W Ardmore Road Phoenix, AZ 85041

$840,000
5 Beds
3 Baths
3,308 SqFt
Status Active
MLS # 6717611
Property Type Single Family Residence
Price Type --
This is your Dream Home! Escape the City life in this absolutely spectacular spacious Dream Home which spans over 3,300 sqft. Nestled in a prime location at the foot of the South Mountain hiking trails in the exclusive gated Commons at South Mountain community. As you enter this well-appointed home through the gated courtyard, you are greeted by abundant space and beauty with a formal front room, a large great room, and an open floor plan. The delightful well-appointed island kitchen and built-ins, seamlessly opens to the family room, creating a harmonious flow throughout the home. Whip up Gourmet meals on your gas cooktop, surrounded by beautiful dark granite counters, designer cabinetry, and a Large center island as the perfect space for entertaining. Whether in the formal dining area, or the off kitchen breakfast nook, relax and enjoy your culinary delights. Each of the 5 spacious bedrooms are well laid out with high ceilings, with one separated from the others, making for a quiet in-home office or guest room. The Master bedroom leaves nothing to want for with its large western facing windows and a spa-like en-suite bathroom for the ultimate in luxury and privacy. There is also an added bonus space where family members can relax and enjoy an additional layer of peace and quiet. This East-facing home allows for great ambient lighting throughout the day, with a spacious covered patio that greets you with stunning views of the nearby mountains and front row seats for our world class Arizona sunsets. This home backs to a private community park, providing additional privacy and natural beauty. An RV gate and drive through 3rd-bay garage make storing your toys simple. Beautiful custom pavers weave throughout the maintenance-free landscape on all parking and walkway areas. Don't miss the opportunity to own this exceptional property with its stunning views and premium amenities. Experience the true essence of luxurious living! Motivated Seller! Bring Your Best Offer. This stunning is now available at a reduced price and the seller is motivated to sell. Don't miss this opportunity to own a beautiful property at a fantastic price. Submit your best offer today!

5345 E Evans Drive Scottsdale, AZ 85254

$840,000
3 Beds
2 Baths
1,736 SqFt
Status Active
MLS # 6722634
Property Type Single Family Residence
Price Type --
Remodeled and ready to move in! Gorgeous Home built with SLUMP BLOCK on a CORNER LOT! The yard is filled with LUSH LANDSCAPE including ORANGE & LEMON TREES! Sparking Pool with a PAVED COVERD PATIO and GRASSY TURF make outdoor living here wonderful! The CHEF'S KITCHEN offers so much GRANITE COUNTER TOP space to food prep! GORGEOUS NEWER WHITE CABINETS brighten up the kitchen & extend over to the EAT-AT ISLAND where the island doubles as an ENTERTAINING AREA with a WINE FRIDGE and BAR SEATING! The DINING AREA has a HUGE CUSTOM WINDOW to the patio. This home also features a brick wall-to-wall WOOD BURNING FIREPLACE in the family room. FRENCH DOORS the the pool area with GRASSY TURF. MATURE FLOWERY LANDSCAPING in the front yard! RV GATE and RV PARKING. No HOA! NORTH/SOUTH Exposure.

6131 E Monterey Way Scottsdale, AZ 85251

$840,000
3 Beds
2 Baths
1,536 SqFt
Status Active
MLS # 6735995
Property Type Single Family Residence
Price Type --
Discover this adorable, recently remodeled 3 bedroom, 2 bath home in a tranquil neighborhood just minutes from Old Town Scottsdale. The spacious living room flows seamlessly into the open kitchen, perfect for entertaining. Retreat to the primary suite with a private bath. Step outside to the inviting backyard featuring a diving pool with slide and large covered patio, ideal for summer fun. Enjoy the convenience of nearby Papago Park, shopping, and all the amenities you need. Don't miss out on this charming gem in a prime location! Buyer and Buyer's Broker to verify any and all items that are of material issue.

130 N Bay Drive Gilbert, AZ 85233

$840,000
5 Beds
4.5 Baths
3,063 SqFt
Status Active
MLS # 6748085
Property Type Single Family Residence
Price Type --
This stunning 5 bedroom, 4.5 bathroom home in an exclusive gated community offers 3,063 sq ft of meticulously crafted living space. The home boasts Owned Solar Panels and a 3-car air conditioned garage with 240V outlet and tandem parking. The floor plan features a loft, a guest quarter with a separate entrance and one of the secondary bedrooms has an en suite bathroom, so you'll have plenty of space to host family and friends! The primary bedroom has a walk-in closet and private en suite bathroom. With high ceilings and dual-pane windows, the atmosphere is airy and bright throughout. The kitchen includes a walk-in pantry, granite countertops, kitchen island, and a breakfast bar. Outside is a covered patio overlooking a private pool, surrounded by synthetic grass for easy maintenance. Community amenities include a walking path, playground, and secure gated entry, making this the perfect blend of luxury and convenience!

4303 E Glenrosa Avenue Phoenix, AZ 85018

$840,000
3 Beds
2 Baths
1,610 SqFt
Status Active
MLS # 6753137
Property Type Single Family Residence
Price Type --
Gorgeous and bright, 3 Bed/2 Bath single level home located in the sought after area of Arcadia! Fully remodeled in 2021 - Home features include a private front courtyard and private rear patio area complete with newer turf and Ficus. Luxury vinyl flooring throughout, stainless steel appliances, quartz counter tops in the kitchen and bathrooms, marble backsplash in the kitchen and shower, Mitzi, HVAL, and/or Pottery Barn custom light fixtures, spacious 2 car garage includes newer epoxy flooring and ample storage with direct access to the courtyard. HVAC, air handler, and roof are just 2 years old. Location is key with close proximity to restaurants, shopping, parks, and Arcadia schools. This one is a must see and won't last long!

5960 E Grapevine Road Cave Creek, AZ 85331

$840,000
3 Beds
2 Baths
2,255 SqFt
Status Active
MLS # 6762333
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the serene desert landscape! This charming 3-bedroom, 2-bathroom residence offers breathtaking views and endless possibilities. Whether you're looking for a cozy winter retreat, a lucrative vacation rental, or a place to call home, this property has it all: ~Spacious Living: Open-concept living area, perfect for entertaining or relaxing. ~Inviting Kitchen: Modern appliances, ample counter space, and a breakfast bar. ~Master Suite: En-suite bathroom with a luxurious jet tub and walk-in closet. ~Two Additional Bedrooms: Ideal for guests, a home office, or a growing family. ~Outdoor Living: Private patio with stunning desert views and a hot tub. ~Direct Access to the Cave Creek Neighborhood Trail Network. ~Furnished or empty, ready to personalize.

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