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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2068 S Sailors Court Gilbert, AZ 85295

$839,500
4 Beds
3 Baths
2,925 SqFt
Status Active
MLS # 6747779
Property Type Single Family Residence
Price Type --
Charming 4 bedroom, 3 bath home with den/office, Pool, Spa and 3-Car Garage located in Ashland Ranch in Gilbert. This home features a large open kitchen with stainless steel appliances, wet-bar, breakfast bar that seamlessly flows into the family room, where a cozy fireplace creates a warm and inviting atmosphere. The split master bedroom layout offers privacy, with the master suite thoughtfully separated from the other bedrooms. The master suite includes a luxurious en-suite bath, providing a serene retreat. Step outside to your private oasis, complete with a sparkling pool & spa, ideal for relaxation & outdoor entertainment. A large covered patio provides the perfect spot for dining & a well-maintained grass area adds charm & versatility to the outdoor space.

2330 E Cortez Street Phoenix, AZ 85028

$839,500 - 4Br/3Ba -  for Sale in Desert Vista 6, Phoenix
Open House
New
$839,500
4 Beds
3 Baths
2,207 SqFt
Status Active
MLS # 6782163
Property Type Single Family Residence
Price Type --
Beautifully remodeled 4-bedroom/3-bath home in the desirable Desert Vista ''Sheaborhood'' with no HOA! This amazing home boasts an open floorpan that seamlessly connects the living, dining and kitchen areas, perfect for modern living and entertaining! The kitchen features granite countertops, SS appliances, a large island with ample storage and stylish gold-accented lighting. Relax by the cozy fireplace and enjoy the flexibility of a split 4th bedroom, ideal for an office, den or mother-in-law. The backyard is an entertainer's delight with new turf, rock and fresh plantings creating a fantastic outdoor space. New roof and fresh paint! Located in a quiet neighborhood with beautiful mountain views, this home offers a perfect blend of style, convenience & natural beauty! It's a MUST SEE!

22409 W Max Drive Wittmann, AZ 85361

$839,000
4 Beds
2.5 Baths
3,198 SqFt
Status Active
MLS # 6766238
Property Type Single Family Residence
Price Type --
JUST UNDER ONE-ACRE! 3198sqft single level home, courtyard, 4-bedroom, Flex, 2.5 bath. Dream garage includes 4 car tandem plus attached RV garage 15 x 59 with 16 plate and 14FT door at RV garage, 10x10 door at rear of RV with slab, insulated garage, epoxy floor, cabinets, work bench! Mountain views, privacy and space! Amazing kitchen with extended island, gourmet stainless steel appliances, quartz countertops, wood plank tile, impressive walk-In shower all tile and more! Privacy, privacy, privacy! Surprise Estates the ultimate sanctuary. We are located just outside the city of Surprise, with quick access to major freeway. Live better why wait! 4% FINANCE INCENTIVE TOWARD RATE BUYDOWN AND OR CLOSING COST.

6991 E Bourbon Way Prescott Valley, AZ 86315

$839,000
4 Beds
3 Baths
2,536 SqFt
Status Active
MLS # 6730760
Property Type Single Family Residence
Price Type --
This Gorgeous 2536 Square Foot Home is UNDER CONSTRUCTION by Reputable Dan Warta Construction: with 3Bedrooms, 2.5Bathrooms, 3CarGarage, + Den (4th Bedroom) on 4 ACRES +/- in Covetable COPPERFIELD with Outstanding VIEWS!! Home will have Solid Stone Accents, Open/Split Floor Plan, GREAT ROOM Concept, 2 Tone Paint, Vaulted Ceilings, Ceiling Fans + Upgraded Lighting, (Wood Plank) Luxury Vinyl & Carpet for flooring, & Gas Fireplace w/Solid Stone accents on Chimney Face. Kitchen will be well appointed with Antiqued White Cabinetry w/Glazing, GRANITE Countertops, Stained Wood ISLAND, Stainless Steel Appliances, Pantry, & Under Cupboard Lighting. Master is Spacious, has dual Sinks, Garden Tub, Large Shower, & Large Walk-In closet. Additional Features include large Laundry Room, Paver Driveway/Walkway/Patio/Porch, and large Covered Patio with Knotty Pine T & G Lid, Spray Foam Insulation make this home very Energy Efficient, & Enclosed Soffit System. Most of the photos are from a prior model with same floor plan and similar finishes of what to expect.

17701 E Fort Verde Road Rio Verde, AZ 85263

$839,000
3 Beds
2 Baths
1,948 SqFt
Status Active
MLS # 6781247
Property Type Single Family Residence
Price Type --
Nestled in the beautiful resort-style community of Trilogy at Verde river, this exquisite residence offers an unparalleled blend of luxury and tranquility. Boasting 1,948 square feet of meticulously crafted living space, this 2 Bedroom plus a Den, 2 Bathroom haven is a testament to refined desert living. Step into a world where neutral hues dance with natural light, creating an ambiance of understated elegance. The gourmet kitchen, a culinary dream, showcases GE Monogram stainless steel appliances and a walk-in pantry that makes meal prep and entertaining a joy. Wood-look tile flows throughout, offering the warmth of timber with the practicality of ceramic. Designer lighting casts a flattering glow on the plantation shutters, while a multi-slide patio door beckons you to embrace the great outdoors. The primary bedroom, boasts a spa-like en-suite with a custom closet system ready to organize your wardrobe. Outside, an oversized lot backs onto natural desert open space, offering a private oasis where you can enjoy nature. The immaculate garage has epoxy flooring and built-in cabinets. The home also boasts a water softener and reverse osmosis system. Trilogy at Verde River is a Resort Style community featuring something for everyone! Tom Lehman designed golf course, tennis, pickle ball, bocce ball, heated lap pool and swimming pool, hot tub, fitness center, demonstration kitchen and a 7.5 acre dog park. The community center has casual and fine dining, luxury spa and an 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 yet close to the conveniences of affluent North Scottsdale. Live like you're on vacation!!

2044 N 71st Street Scottsdale, AZ 85257

$839,000
3 Beds
2 Baths
1,879 SqFt
Status Active
MLS # 6742221
Property Type Single Family Residence
Price Type --
This South Scottsdale property is FULLY FURNISHED AIRBNB/VRBO property! The spacious 3 bed, 2 bath home sits on a corner lot, boasts an open floor plan, tons of natural light, unique designer touches throughout & all brand new appliances including washer & dryer inside. Enjoy the backyard oasis w/ a HEATED pool (Heater installed 2023), firepit, turfed putting green. This home is just minutes to Old Town Scottsdale, Scottsdale Stadium, Spring Training, world-class golf courses, Camelback Mountain hiking, Fashion Square Mall & hundreds of restaurants and entertainment options. SELLER OPEN TO A RE-DECORATING ALLOWANCE.

6922 E Orion Drive Scottsdale, AZ 85257

$839,000
3 Beds
2.5 Baths
2,251 SqFt
Status Active
MLS # 6754527
Property Type Single Family Residence
Price Type --
WELCOME TO premier executive home in the prestigious gated community of Skye on McDowell. This stunning 2,251 sqft residence, featuring 3 bedrooms and 2.5 bathrooms, epitomizes modern luxury in the heart of Scottsdale. The open floor plan is highlighted by 11-foot ceilings, 8-foot doors, and walls of glass that flood the space with natural light. The gourmet kitchen is a masterpiece, featuring custom cabinetry with soft-closing mechanisms, and a walk-in pantry. Additional amenities include a R.O. system and a soft water system. The home's spacious and welcoming living areas are perfect for entertaining. Enjoy seamless indoor-outdoor living. The meticulously maintained community offers a heated pool, spa, gym, and BBQ pavilion just steps away. Situated minutes from Old Town Scottsdale,

3125 E Louise Drive Phoenix, AZ 85050

$839,000
3 Beds
2.5 Baths
2,059 SqFt
Status Active
MLS # 6772935
Property Type Single Family Residence
Price Type --
Welcome to a stunning 3-bedroom, 2.5-bath home with a 2-car garage located in the highly sought-after Sky Crossing community. This open floorplan home boasts 9-foot ceilings and recessed lighting throughout. The chef-like kitchen features an island, walk-in pantry, sleek white cabinetry, gas cooktop, stainless steel appliances, and a water filtration system. The great room is equipped with surround sound, extending to the backyard patio. The primary bedroom showcases beautiful custom shiplap, a spacious walk-in closet, dual sinks, and a luxurious walk-in shower. Ceiling fans adorn every room, and the garage offers epoxy flooring and overhead storage racks. Step outside to a low-maintenance backyard with artificial turf & desert landscaping, along with a spacious covered patio. Sky Crossing amenities include a heated pool/spa, fitness center, playgrounds, clubhouse, and elementary school. Enjoy nearby shopping and dining at Desert Ridge Marketplace and City North. Come see for yourself today!

9444 N 115th Place Scottsdale, AZ 85259

$839,000
2 Beds
2 Baths
1,900 SqFt
Status Active
MLS # 6741639
Property Type Single Family Residence
Price Type --
'There are three things that matter in property: location, location, location.' This 2bd/2bth Edmunds home has them all! Located in beautiful guard-gated Stonegate w/no homes behind, this rare find has stupendous McDowell Mountain views & it's just a 90-second walk to the community's 5-star amenities. The heated Olympic-sized pool & spa surrounded by towering date palms will make you feel like you live at your own private resort. Updates incl new interior paint, a stainless gas range, two microwaves, a wall oven, dishwasher, carpet & newer wood-like floors. The home features a kitchen island w/granite counters & island seating, antique white cabs & stacked stone surrounds, new recessed lights & great outdoor spaces, including a separate raised patio & great mountain views! (More) The guard-gated Stonegate community has a Club House, 7 tennis courts, 2 pickleball courts, a half basketball court, a children's playground, an Olympic-size heated pool and spa, lush landscaping, beautiful palm trees and miles of hiking and biking paths with easy access to trails bordering the Pima-Maricopa Reserve, with views of the city, Camelback, Red Mountain and the Tonto National Forest in the distance. Stonegate is a well-run HOA with lots of green space and natural desert preserve areas. The community is conveniently located near golf courses, shopping, grocery stores, restaurants, numerous quality schools including Scottsdale Basis, great hospitals including the Mayo Clinic & Honor Health, Salt River Fields, the Arizona Boardwalk, Highway 101 and a short drive to Old Town Scottsdale. This is Scottsdale living at its finest!

41910 N Emerald Lake Drive Anthem, AZ 85086

$839,000
3 Beds
2.5 Baths
2,661 SqFt
Status Active Under Contract
MLS # 6756133
Property Type Single Family Residence
Price Type --
Set along the 4th hole of the prestigious Persimmons course in Anthem Golf & Country Club, this exquisite residence combines elegance with modern comfort. A refined paved courtyard entry welcomes you into a bright and inviting living space, where extended windows provide uninterrupted views of the lush golf course. The gourmet kitchen has been thoughtfully updated with top-of-the-line appliances, ample cabinetry, and an expansive island, all designed to inspire culinary creativity. The adjoining great room, with its striking stacked stone fireplace, offers the perfect setting for both relaxation and entertaining. The master suite is a true retreat, boasting ample room for luxurious furnishings, a spacious walk-in closet, and an updated en-suite bath. Two additional guest bedrooms are connected by a Jack and Jill bathroom, and the oversized office/den provides an exceptional space for work or leisure. Outdoors, the private backyard oasis features elegant pavers, a built-in BBQ with an eating bar, a fire pit, and a spacious covered patioall with serene views of the course. Recent updates include a new roof, two A/C units, and a mini split to cool the garage. Anthem Country Club offers the pinnacle of luxury living with two clubhouses, dual 18-hole golf courses, resort-style pools, fitness centers, and premier tennis and pickleball facilities.

5203 E Wallace Avenue Scottsdale, AZ 85254

$839,000
4 Beds
2 Baths
1,995 SqFt
Status Active
MLS # 6767316
Property Type Single Family Residence
Price Type --
Beautifully upgraded home located in the desirable 85254 zip code. This home features 3 bedrooms and 2 full bathrooms, with a versatile den that can serve as an office or an additional room. Upon entering, you're welcomed by a spacious great room with vaulted ceilings that opens up to the backyard. The home boasts upgraded tile and laminate flooring throughout. The well-designed split floor plan offers maximum privacy, with the master bedroom on one side and the other bedrooms on the opposite side. The entire interior was painted a couple of years ago. Step into the backyard to find an expansive patio with upgraded tile flooring, overlooking a stunning pool and a large grassy area perfect for entertaining or for kids to play. Minutes away from Kierland, Dessert Ridge Mall and TPC golf.

7297 Red Feather Court Happy Jack, AZ 86024

$839,000
4 Beds
2 Baths
2,621 SqFt
Status Active
MLS # 6642613
Property Type Single Family Residence
Price Type --
This is your dream home on 5.35 acres of privacy, great views, usable land. Bring your horses, bring your family to this beautifully furnished home with amazing furniture artwork & more. No costs were spared when the amazing reclaimed (from a 1918 bldg) wood floors were installed along with dual pane wooden framed windows and doors. This home was decorated like a true cowboy model home. Panoramic Views from the upstairs balcony off the masterbedroom. The large master offers a roomy bathroom, walkin closet, fireplace & private walk out balcony. Watch the sunrise and set to a cup of coffee or wine. This home has too many upgrades to mention it is a must see for your buyer. Huge laundry room/mud room off of garage. Downstairs bath is a jack/jill to hallway & one of the downstairs bedroom making it to a mini master with walkout door to back covered deck. Property backs up to the USNF great wildlife and easy access for great rides. Great open floor plan with separate dining area with great windows around it , walk-in pantry, large open kitchen. Metal roof for low maintenance, flat log siding gives it a beautiful cabin look with front and back covered log pole decks. Bring your buyers to check out this beautiful home, the flooring will catch your eye the second you open the oversized wood front door.

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