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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3258 W Via Dona Road Phoenix, AZ 85083

$838,000
4 Beds
3 Baths
2,649 SqFt
Status Active
MLS # 6713785
Property Type Single Family Residence
Price Type --
BRAND NEW HOME!! ONE OF THE BEST VIEW LOTS IN THE DEVELOPMENT! Here is your chance to buy a move in ready home with NO WAIT TIME. This is the beautiful Trillium Model situated on an amazing lot with awesome views! This 4 bedroom/3 bathroom plus NEXT GEN Suite, is one of the best Lennar floorplans they have. Everything is BRAND NEW, with backyard landscaping coming soon. Easy access to the entire valley and close to the new TSM Semiconductor Facility. Gated Community. Builder warranty transfers to new owner. Come take a look at this wonderful home before it is gone! (Photos are of builders model. Home is unfurnished and more photos will be added)

6738 S Rachael Way Gilbert, AZ 85298

$838,000
4 Beds
3 Baths
2,740 SqFt
Status Active
MLS # 6741651
Property Type Single Family Residence
Price Type --
Living is good at Seville Golf & Country Club community located in the heart of Gilbert! Look no further than this beautiful & updated home! Enjoy your own backyard oasis, backing to a greenbelt, year-round swimming with your heated/cooled pool, BBQ island, screened patio & fire pit. Inside, you'll be impressed by the extensive remodel of this 4 bed/3bath home (den could be 4th) featuring upgraded hardwood & tile flooring, recently painted, plantation shutters, beautifully updated bathrooms, and a stunning stacked stone fireplace with entertainment wall. The kitchen with granite countertops, island, pantry, and stainless steel appliances. This home is truly a gem in the heart of Gilbert.

2955 E Appaloosa Road Gilbert, AZ 85296

$838,000 - 3Br/3Ba -  for Sale in Warner Groves At Morrison Ranch, Gilbert
Open House
$838,000
3 Beds
2.5 Baths
2,525 SqFt
Status Active
MLS # 6766666
Property Type Single Family Residence
Price Type --
You'll love this STUNNING Crafstman-style home in Morrison Ranch that offers 3 bedrooms plus a den with double doors and 2.5 baths in 2525 SqFt. Beautifully updated and meticulously maintained by the original owners, this home offers custom details throughout. The gourmet kitchen features upgraded espresso cabinetry, granite countertops, tile backsplash, stainless appliances including a gas cooktop and wall ovens, a large walk-in pantry, and an island with breakfast bar and pendant lighting. The great room and dining area have tons of natural light thanks to added windows above and below the regular windows. Sliding doors lead out to the covered patio with a gas stub for your BBQ, extended paver patio with pergola covering, and a great backyard with artificial turf for kids and pets to play on, raised planter beds, and only single story neighbors. Split bedroom layout. The primary suite offers a spa-like bath with dual sink vanity, large soaking tub with tile surround, deluxe double tiled shower with bench seating and multiple shower heads, and a walk-in closet with a convenient door into a spacious laundry room with cabinets & shelving. Two secondary bedrooms share a Jack & Jill bath with double sinks, and there's also an additional powder room for guests. Other features include mud room, designer lighting fixtures and ceiling fans, upgraded tile floors throughout living areas and baths, and a 3 car tandem garage.

15265 N 104th Way Scottsdale, AZ 85255

$837,000
4 Beds
3 Baths
2,132 SqFt
Status Active
MLS # 6763054
Property Type Single Family Residence
Price Type --
PRICE IMPROVEMENT! Well-kept home walking distance to Community Center/pool/tennis/playground/school. Walk to Thompson 105 restaurant! Large kitchen with white cabinets. Sparkling pool with lots of afternoon shade. Wood floors, Plantation Shutters, unique mud room, bedroom on main. Walk-out deck with views of McDowell Mtns! Newer ac and roof! Solar panels! Perfect home in highly desirable McDowell Mountain Ranch community with A+schools and all the amenities you want! New roof-2019. New AC-2020. New water heater-2022. Solar panels-2015. Water softener & RO system. 2-car garage with lots of storage.

3227 E Copperleaf Lane Flagstaff, AZ 86004

$835,944 - 4Br/4Ba -  for Sale in Canyon Del Rio, Flagstaff
New
$835,944
4 Beds
4 Baths
2,370 SqFt
Status Active
MLS # 6784632
Property Type Townhouse
Price Type --
SPEC home recently complete and ready to move-in! New construction. This 2 level townhome features 4 bdrm 4 bath with 2370 sq ft. Master bedroom downstairs, additional bdrm/bathroom downstairs, and 2 bedrooms w/bathrooms up. Standard features include spray foam insulation, tankless hot water heater, gas dryer and range hookup. Tile surround shower with pony wall in master bath. All appliances included with this home. Backyard landscaping included. Truly Move-in ready! Escape the heat of the valley and come to the cool mountains of Flagstaff! Don't miss out on this one with the seller offering large $$ incentives!

23116 N 94th Lane Peoria, AZ 85383

$835,270
4 Beds
3.5 Baths
3,003 SqFt
Status Active Under Contract
MLS # 6750543
Property Type Single Family Residence
Price Type --
Fantastic Corner lot with no neighbors on 2 sides. Located in the popular Meadows neighborhood - this 4 bedroom, 3.5 bath plus Den and flex room home has all the space you are looking for. Wonderful open concept floor plan with large great room and fantastic kitchen featuring rich designer cabinets, beautiful countertops and backsplash, stainless appliances, nice sized walk in pantry and the perfect dining area. Generous sized primary bedroom with en suite bath featuring dual vanities, large shower and walk in closet. Separate den with it's own private patio space! Large back yard with covered patio, additional travertine paved area for outdoor dining, artificial turf and raised garden beds. 3 car tandem garage. This special home has it all and then some!!

13839 N Crown Point Sun City, AZ 85351

$835,000
2 Beds
2 Baths
2,755 SqFt
Status Active
MLS # 6714837
Property Type Single Family Residence
Price Type --
Stunning dawn lake property for sale at 13839 N Crown Point Ct. in Sun City, AZ. This Southwest Territorial style home offers wonderful views of the almost 38-acre Dawn Lake. Beautiful 2 bedroom and 2 bath home with a spacious 2800 square feet of living space, all on a 13,000 Ft. lot That offers plenty of space for outdoor activities and relaxation with almost 150 feet on lake frontage. Inside the home features custom stained glass accent windows that add a touch of elegance and charm. The kitchen boasts high end appliances and is adorned with Northern Arizona juniper countertops, adding a unique, natural element to the space. Located on a quiet cul-de-sac lot and with a north-south facing orientation, this home provides a peaceful and private setting.

7869 E Horseshoe Lane Scottsdale, AZ 85250

$835,000
2 Beds
2 Baths
1,579 SqFt
Status Active
MLS # 6762686
Property Type Single Family Residence
Price Type --
Best of Scottsdale Golf Villas! LUXURY Lifestyle in Heart of Scottsdale. Mountain & Golf Course Views. World class dining, shopping, resorts, art, bike path. Open floor plan. Mediterranean style 2/2w/Formal Dining/Office finished with fine attention to details. Granite, Fine Italian Tile, Stainless Appliances, Solid Pine 6 Panel Doors, Travertine Shower, Hardwood Plantation Shutters, Molding, Lighting, etc. Located in a LUSHLY landscaped Golf side community w/pool, spa & tennis and minimal landscape maintenance; LOW HOA includes front yard landscape care. Agent related to seller.

10810 E Bella Vista Drive Scottsdale, AZ 85259

$835,000
3 Beds
2 Baths
2,093 SqFt
Status Active
MLS # 6771251
Property Type Single Family Residence
Price Type --
Enchanting residence located in Scottsdate Ranch boasts pride of ownership and modern updates throughout! Displaying a 2-car side garage and mature landscape. Enter through the custom double doors to find travertine flooring, tall vaulted ceilings, stylish light fixtures, soft natural light, and a floor-to-ceiling tile fireplace in the combined living & dining room. Beautiful kitchen comes with ample white cabinets accentuated by crown moulding, SS appliances, mosaic tile backsplash, a pantry, granite counters, and a breakfast nook. The romantic primary bedroom retreat will captivate you with coffered walls, direct outdoor access, and an ensuite equipped with dual sinks, soaking tub, and two mirrored door closets. Resort style backyard won't disappoint! Showcasing a covered patio for alfresco dining and a refreshing pool, promising year-round enjoyment. Hurry! A deal like this will sell fast!

27964 N Cindy Lane Queen Creek, AZ 85144

$835,000
4 Beds
2.5 Baths
2,703 SqFt
Status Active
MLS # 6774791
Property Type Single Family Residence
Price Type --
Discover the perfect blend of luxury and country living on this pristine 1.2-acre horse property in Queen Creek! With a 3-car garage, barn, and ample space for horses, this property is built for those who want to embrace the equestrian lifestyle without sacrificing modern comforts. Less than 2 miles from the Rock Peak Wash trails for hiking, biking, and horseback riding, and just minutes from shopping, dining, and entertainment, this stunning 4 bed, 2.5 bath home boasts a bright, open layout with abundant natural light, wood-look tile flooring, and a chef's kitchen featuring quartz countertops, stainless steel appliances, and a large island perfect for gatherings. The primary suite offers a tranquil oasis with a walk-in closet, spa-like rain shower, and private patio access, ideal for & Equestrian Center are just 6 miles awaythis is the country-luxury lifestyle you've been waiting for!

18507 N 94th Street Scottsdale, AZ 85255

$835,000
2 Beds
2 Baths
1,887 SqFt
Status Active
MLS # 6777277
Property Type Townhouse
Price Type --
Gorgeous, former model home in the gated Villas of DC Ranch. The builder didn't spare any expenses when building this model home. From the flooring to the ceiling, this home is dialed in. Featuring 2 large bedrooms, open office/loft, 2 car garage,private courtyard with built in BBQ island with tons of room to entertain. The kitchen opens to the great room with tons of room and counter space at the island. The eat in kitchen is large sized and can definitely host a dinner party. Downstairs also hosts a guest room and full bathroom. Upstairs you'll find an enormous master suite with walk in closet, laundry room, and office loft. Don't miss all the amenities DC Ranch has to offer. Pools, walking paths, playground, and golf! This home is sure to exceed your expectations.Also for lease

351 W Mountain Sky Avenue Phoenix, AZ 85045

$835,000
4 Beds
2 Baths
2,347 SqFt
Status Active Under Contract
MLS # 6778717
Property Type Single Family Residence
Price Type --
Welcome to Dove Canyon, an exquisite property in the heart of Club West with sweeping mountain views and easy access to South Mountain Preserve Trails. This meticulously maintained single-level home, lovingly cared for by its original owners, showcases true pride of ownership from the moment you step inside. Enter through a grand iron door with sidelights, designed to let in fresh air on Arizona's crisp fall days. Two additional custom iron doors in the primary bedroom and family room enhance this home's charm. Energy-efficient Andersen windows on the south side add comfort year-round. With 10-foot ceilings, a split 4-bedroom, 2-bath layout, and a spacious 3-car garage, this home's thoughtful floor plan is ideal for both entertaining and relaxing. The inviting foyer opens to a forma Welcome to Dove Canyon, an exquisite property in the heart of Club West with sweeping mountain views and easy access to South Mountain Preserve Trails. This meticulously maintained single-level home, lovingly cared for by its original owners, showcases true pride of ownership from the moment you step inside. Enter through a grand iron door with sidelights, designed to let in fresh air on Arizona's crisp fall days. Two additional custom iron doors in the primary bedroom and family room enhance this home's charm. Energy-efficient Andersen windows on the south side add comfort year-round. With 10-foot ceilings, a split 4-bedroom, 2-bath layout, and a spacious 3-car garage, this home's thoughtful floor plan is ideal for both entertaining and relaxing. The inviting foyer opens to a formal living and dining area with serene backyard views. An expansive family room and eat-in kitchen with a center island provide a seamless flow and functionality. Professional upgrades throughout the home include a fully remodeled primary bathroom with stylish cabinetry, counters, a luxurious shower, and a soaking tub. The entire home is adorned with upgraded vinyl plank flooring, adding elegance and durability. The backyard offers a private oasis with a sparkling pool, newly resurfaced cool deck, and a covered patio with mountain views, perfect for Arizona's outdoor lifestyle. Practical updates include a newer variable-speed pool motor, HVAC replacement in 2016, a hot water heater with a recirculation pump (2020), and built-in desk and shelving in the 4th bedroom for a versatile office or den. This home truly combines timeless style with modern comforta beautiful Arizona retreat ready for its next chapter!

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