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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20530 W Mariposa Street Buckeye, AZ 85396

$829,900
2 Beds
2 Baths
2,142 SqFt
Status Active Under Contract
MLS # 6771968
Property Type Single Family Residence
Price Type --
Located in the resort style 55+ community of Victory at Verrado close to Phoenix, AZ with both golf course and mountain views, this gorgeous home is a rare find! Backyard adult playground includes a sunken spa with overhead pergola, putting green, water/fire feature and bocci ball court. Entertain guests on the extended covered patio complete with built in gas barbecue and granite bar. On the 13th hole of Victory Golf Course this home is 2142 sq ft with 2 bedrooms, den with double doors, 2 baths & an open floor plan. Too many upgrades to mention - must be seen! Victory at Verrado is a stunning active adult community complete with 4 resort style heated pools, tennis, pickle ball and bocci courts as well as private activities and events. This incredible energy efficient home will not last! At the heart of the community is The Victory Club, a state-of-art clubhouse boasting three resort-style pools + a lap pool, a 7,000-square-foot Life Performance Training Center, full spa, movement studio and yoga lawn, full bar and restaurant and so much more! Improve your handicap at one of the two championship golf courses, visit downtown Verrado for excellent shopping & restaurant opportunities, explore 21 miles of trails, and partake in community events. This is not just a home, it's a lifestyle!

1725 W Bramble Berry Lane Phoenix, AZ 85085

$829,900
5 Beds
2.5 Baths
2,836 SqFt
Status Active Under Contract
MLS # 6741625
Property Type Single Family Residence
Price Type --
Welcome to Sonoran Foothills! A GATED COMMUNITY that is tucked away yet so close to the growth that is NORTH GATEWAY. Relax and enjoy your UPDATED HOME on a (nearly) 1/4-acre with a sparkling PRIVATE POOL. UPDATES INCLUDE kitchen, baths, flooring, California Closets, Kool Decking, and FULL HVAC. Sonoran Preserve to the east is just a short drive or bike ride where you find miles of hiking/biking trails. Or take a stroll to the community center where you can enjoy a workout, tennis, pool, children's play areas, a dog park and more! This home is truly MOVE-IN READY and the LOCATION couldn't be better. This is a must-see!

194 E Canyon Creek Drive Gilbert, AZ 85295

$829,088
5 Beds
3 Baths
3,593 SqFt
Status Active
MLS # 6706973
Property Type Single Family Residence
Price Type --
Welcome to your dream home located in Gilbert Commons! This beauty offers a 3-car garage, RV gate, & mature landscape. Enter through the custom double door to discover a den/office, formal dining room, & a harmonious great room graced w/bountiful natural light. Highlights include wood-like flooring, designer paint, vaulted ceilings, ceiling fans, & lovely archways. Open-concept kitchen features SS appliances, plenty of honey oak cabinetry, recessed lighting, & a center island. HUGE loft w/balcony access is ideal for an entertainment area! Owner's retreat is upstairs, equipped w/plush carpet, double door entry, & an ensuite comprised of dual sinks, make-up desk, & a walk-in closet. Wonderful backyard w/a covered patio, fire pit, & a sparkling pool will surely impress you. Don't miss it!

5527 Dripping Springs Drive Pine, AZ 85544

$829,000
3 Beds
3 Baths
1,858 SqFt
Status Active
MLS # 6764795
Property Type Single Family Residence
Price Type --
Once in a while a special home comes on the market that is perfect for residing in the day your escrow closes. This 3 bedroom 2 ½ bath home in a preferred tranquil gated area of Pine gives you a warm, friendly feeling when you arrive. All the amenities you will need, including an efficient kitchen with a half bath and laundry room easily accessible, leads to door for attached 2-car garage providing protected entry in colder months. Great room shows off extra-large windows for enjoying the local wildlife, plus a gas fireplace for warmth and ambience during winter evenings. Central air & heat, new roof earlier this year, a generator provides any emergency power needed. Whole house water filter system, Interior recently painted, reverse osmosis, tank-less recirculating water heater. plus a compressor added about 4 years ago. This home has everything to make your life stress-free. Composite decking, Heavy aluminum deck rails, and Cast aluminum patio furniture is included under the covered patio that gives you a front-row seating to the Elk and Deer who come to visit. Come - Relax - Enjoy!

17847 E Paria Canyon Drive Rio Verde, AZ 85263

$829,000
2 Beds
2 Baths
1,948 SqFt
Status Active
MLS # 6765542
Property Type Single Family Residence
Price Type --
Welcome to your new home in the beautiful Resort Community of Trilogy at Verde River. This meticulously crafted home offers the perfect blend of comfort, style, and functionality. Step inside to discover a thoughtfully designed layout boasting 2 spacious bedrooms and 2 modern bathrooms, including a luxurious primary suite featuring a contemporary barn door for added elegance and privacy. Need a third bedroom? The versatile den with doors provides the ideal space to accommodate your needs. Every corner of this residence exudes sophistication, with remodeled bathrooms showcasing sleek finishes and updated plumbing fixtures, while the neutral color palette throughout creates a serene atmosphere that effortlessly complements any decor style. For the culinary enthusiast,

2339 W Hazelhurst Drive Anthem, AZ 85086

$829,000
4 Beds
3.5 Baths
3,263 SqFt
Status Active
MLS # 6774083
Property Type Single Family Residence
Price Type --
Experience the ultimate in Arizona living with this stunning 4-bedroom, 3.5 bathroom home. This spacious Valero model includes a full casita, perfect for guests or extended family. Step into the open living area, where a cozy gas fireplace and custom media wall create a warm ambiance. The kitchen is a chef's dream, boasting a large island and upgraded finishes. The primary suite is a luxurious retreat with a generous walk-in closet and upgraded tile and carpet throughout. Outdoors, enjoy a large covered patio, heated PebbleTec pool and spa, and a fire pit with seating, all set against breathtaking mountain and city light views. Additional features include a gated courtyard with a fountain, water softener, reverse osmosis system, ceiling fans, built-in speakers and a...CONTINUE READING... ...security system. This home offers the ideal blend of comfort, style, and panoramic views. Enjoy the resort lifestyle Anthem Country Club has to offer....WELCOME HOME!

27000 N Alma School Parkway Unit 1014 Scottsdale, AZ 85262

$829,000
3 Beds
3 Baths
2,379 SqFt
Status Active
MLS # 6772708
Property Type Apartment
Price Type --
Welcome to the stunning and tranquil community of Pinnacle Pointe, with gorgeous views of Troon Mountain. This home is a perfect getaway, with a single level, open concept floorplan that includes 3 comfortable bedrooms (2 with full ensuite baths, and the third with an adjacent full bath), a large laundry room with lots of storage, and a two car garage with epoxied floors. Shuttered windows throughout, travertine floors, newer water heater (2021) and fridge (2023), and included appliances make this unit a move-in ready paradise. A complete workout room with heated spa and pool to enjoy the gorgeous mountain views are just steps from the front door to complete the ideal desert life experience. Snap it up before it's gone!

2631 W Desert Hills Drive Phoenix, AZ 85086

$829,000
4 Beds
3 Baths
2,930 SqFt
Status Active
MLS # 6774085
Property Type Single Family Residence
Price Type --
Welcome to this exceptional, one-owner custom home nestled on nearly an acre of prime real estate! This meticulously maintained property offers a spacious open-concept layout, featuring soaring ceilings, a fully finished 3-car garage, and RV gate access on two sides of the lot. With 4 generously sized bedrooms and 3 full bathrooms, this home is perfect for both comfort and entertaining. The kitchen is at the heart of the home, with ample space for cooking and gathering. Recent upgrades include brand-new AC units, a new hot water heater, and a comprehensive whole-home soft water system, ensuring modern comfort and efficiency.

33231 N 72nd Place Scottsdale, AZ 85266

$829,000
2 Beds
2 Baths
1,986 SqFt
Status Active Under Contract
MLS # 6777574
Property Type Townhouse
Price Type --
Gorgeous end-unit townhome in the exclusive gated community of Winfield features a peaceful, beautifully landscaped backyard retreat w/ sparkling pool. Split floor plan home is bright and open w/ lot of natural light, tile flooring throughout & rich wood flooring in office. Freshly painted inside & out. Spacious living room, comfortable family room w/ gas fireplace, great spaces to relax & entertain. Open eat-in kitchen features gleaming new SS appliances, huge island w/ granite tile counter & bkfst bar, huge pantry. Large primary suite, huge walk-in closet, beautifully appointed primary bath, dual sinks, separate tub & shower. Resort-like backyard w/ refreshing pool, waterfall & spa, full outdoor kitchen, firepit, and dramatic accent lighting borders on beautiful NOAS for added privacy. The HVAC was replaced 6 years ago, and the Winfield HOA replaced all roofs in the community in 2019, and this year completed a scheduled roof inspection and associated maintenance. Home features custom shutters plus remote controlled custom window shades. Enjoy the active Winfield lifestyle with countless amenities such as pickleball, tennis (hard and clay courts), beautiful clubhouse with fitness center, meeting rooms, cafe, heated community pool, nearby hiking trails, walkways throughout the community. The Winfield Tennis Community is a private access USTA-rated facility, featuring Chris Cummings, a USPTA Elite Professional. This is truly a wonderful home in an ideal location within one of Scottsdale's premier communities.

6307 E Gelding Drive Scottsdale, AZ 85254

$829,000
3 Beds
2 Baths
1,704 SqFt
Status Active
MLS # 6742573
Property Type Single Family Residence
Price Type --
Welcome to this beautifully remodeled 3-bedroom, 2-bath home in the highly desirable 85254 area, located on a quiet cul-de-sac. The open-concept great room features wall-to-wall travertine flooring and a sleek kitchen with European-style cabinets, quartz countertops, and stainless-steel appliances. The primary suite offers outdoor access, large closet, and a walk-in shower. Enjoy the spacious backyard oasis with a built-in BBQ, pizza oven, water feature, and fire pit. PERFECT for RV enthusiasts, this home features RV gates, parking, and multiple outlets (220V, 110V 30 amp, and 110V 15 amp) behind the gate. Plus, no HOA! Minutes from Kierland and Scottsdale Quarter.

28050 N 110th Place Scottsdale, AZ 85262

$829,000
4 Beds
2 Baths
2,311 SqFt
Status Active
MLS # 6757825
Property Type Single Family Residence
Price Type --
Fantastic 4 bedroom home in North Troon. Close to golf, hiking, biking, Pinnacle Peak and Four Seasons Resort. New windows in 2017. All electric well maintained home with a minimal annual HOA fee.

5819 E Ludlow Drive Scottsdale, AZ 85254

$829,000
4 Beds
2.5 Baths
2,205 SqFt
Status Active
MLS # 6773237
Property Type Single Family Residence
Price Type --
Discover this stunning home in the highly sought-after 85254 zip code! Situated on nearly a 1/3 acre lot. This 4-bedroom, 2.5-bath gem offers the perfect blend of indoor comfort and outdoor fun. Dive into the large, sparkling pool or relax on the spacious covered patio-ideal for hosting memorable gatherings. The open kitchen, complete with granite countertops connects to the cozy family room with wood-burning fireplace. Desirable split floor plan with the master suite and a versatile fourth bedroom-perfect for a home office on one side, and two generously sized bedrooms with a shared bath on the other. Soaring ceiling and a beautiful wall of windows in the living room bring in natural light and offer views of the backyard. Side yard includes a carport with electricity making it a car enthusiast's dream, plus an RV gate for easy access. Just minutes from the best shopping, dining, and entertainment at Desert Ridge Marketplace, Kierland Commons and Scottsdale Quarter. This home is close to everything you need.

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