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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10538 E Sheffield Drive Mesa, AZ 85212

$825,000 - 6Br/4Ba -  for Sale in Eastmark Development Unit 7 North Parcels 7-6 Thru, Mesa
Open House
$825,000
6 Beds
3.5 Baths
4,002 SqFt
Status Active
MLS # 6754952
Property Type Single Family Residence
Price Type --
Through 11/3 the seller is offering 25K in seller concessions to help with rates! Why wait for a new build when you can get a home with over 150k in upgrades from a beautifully designed backyard to upgrades fixtures and a lot of Wall Designs to clearly make this home give off the WOW factor! Imagine living in a home that offers the best of both worlds - the convenience of single-level living with the added bonus of a second floor! This exceptional home features 5 bedrooms, 3.5 baths, and a 3-car garage. The First level has the Primary Suite and 3 additional bedrooms and 2.5 bathrooms. The second story offers a loft, two bedrooms, and a bath, that's perfect for accommodating guests or creating a private retreat

2325 N 160th Avenue Goodyear, AZ 85395

$825,000 - 4Br/4Ba -  for Sale in Palm Valley Phase 8 North Parcel, Goodyear
Open House
$825,000
4 Beds
3.5 Baths
3,634 SqFt
Status Active
MLS # 6756042
Property Type Single Family Residence
Price Type --
PRICED TO SELL! PRISTINE 4 BEDROOM 3.5 BATH WITH POOL IN SOUGHT-AFTER GATED COMMUNITY OF PALM VALLEY! PREMIUM LOT BACKING TO GREENBELT! 3 CAR GARAGE! TENS OF THOUSANDS IN UPGRADES! This beautiful home boasts 10' ceilings throughout, open concept Kitchen/Great Room, Guest Suite, Game or Flex Room, Den, Formal Dining, 20'' tile floors, stone niche with gas fireplace, granite countertops, upgraded cabinets with crown molding, double ovens, gas cooktop, R/O system, pull-out shelves, split Primary Bedroom with walk-in shower and garden tub, 8' doors throughout, custom shades, and the list goes on. Relax and entertain in your private back yard with pool, pergola, built-in BBQ, covered patio, & landscape lighting. RV gate with paver pad included. Excellent location near shopping & restaurants!

1547 W Vernon Avenue Phoenix, AZ 85007

$825,000 - 3Br/2Ba -  for Sale in Del Norte Place, Phoenix
Open House
$825,000
3 Beds
2 Baths
1,928 SqFt
Status Active
MLS # 6757540
Property Type Single Family Residence
Price Type --
MOTIVATED SELLER! Beautiful Tudor Revival home in the sought-after Del Norte Place Historic District. Enjoy versatile living w/ a den/flex space and a finished basement for expanded utility. This 1,928 sq ft residence features all NEW systems & sits just steps from Encanto Park. Timeless character meets modern convenience.Adorned with ORIGINAL scored concrete AND wood floors, it seamlessly blends vintage charm with modern amenities. Step inside to discover a gorgeous barrel ceiling echoing the arched front picture window, original scored concrete floors, complemented by vintage and period light fixtures, offering a warm ambiance throughout. Additionally, French doors from the living room open into a versatile den offering endless possibilities as a home office or a tranquil retreat. The kitchen is perfect for culinary enthusiasts; a 6-burner gas stove, oiled soapstone countertops, adorned with a marble backsplash and top of the line SS appliances. Spanning 1928 sq. ft., the home's vintage interior spaces beckon with a spacious formal dining room leading to the enchanting indoor/outdoor oasis of the covered patio and private sanctuary in the back yard. Downstairs, a large finished basement provides ample space for recreation or relaxation, catering to every lifestyle need. Discover the epitome of refined living in this peaceful neighborhood.

3123 N 78th Street Mesa, AZ 85207

$825,000 - 4Br/2Ba -  for Sale in Lengthy, Provided In Escrow., Mesa
Open House
$825,000
4 Beds
2 Baths
2,325 SqFt
Status Active
MLS # 6774613
Property Type Single Family Residence
Price Type --
Drive up the long driveway to this amazing 1.3 acre north/south exposure lot with horse privileges. No HOA fees. Beautiful views! Current owner has lived in home for 22+ years. This wonderful 4 bedroom split floor plan home will need some updating but has been well taken care of. Don't miss this opportunity to buy this home and turn it into your dream home for years to come. Home backs to Rock Canyon at Las Sendas.

1991 W Coconino Drive Chandler, AZ 85248

$825,000 - 4Br/3Ba -  for Sale in Watermark At Ocotillo, Chandler
Open House
$825,000
4 Beds
3 Baths
3,037 SqFt
Status Active
MLS # 6726893
Property Type Single Family Residence
Price Type --
Tenants are out! Don't be concerned with days on market. The property was tenant-occupied and is now vacant and easy to show! Amazing opportunity to own a home nestled within the prestigious Watermark at Ocotillo Community. This spacious 4 bed 3 bath home is one of Camelot's most desirable models! Step into the heart of luxury through the stunning kitchen, with exquisite cabinetry, stainless steel appliances, & lavish granite countertops that define culinary sophistication. Upgraded flooring showcases a seamless blend of plush carpeting, tile, and modern luxury vinyl plank. Prime location near major freeways, great schools, and large employers. Enjoy everything the Ocotillo lifestyle offers!

3649 N 56th Street Mesa, AZ 85215

$824,999
5 Beds
4.5 Baths
3,211 SqFt
Status Active
MLS # 6745144
Property Type Single Family Residence
Price Type --
Do not miss this almost brand new home built in the gated and resort style community of Reserve at Red Rock. Pull up to this beautiful home with a very welcoming elevation and style. This prime location is close to top rated schools, including the new ALA campus, 202 on-ramp, shopping, dining and golf courses in the area. Low maintenance landscaping, covered porch and wider paver driveway welcome you to your new home. Enter the upgraded iron door to beautiful flooring, fresh and bright colors and upgrades everywhere you look. Fantastic en-suite bedroom right off the front door is perfect for a guest room or generational living with its own bathroom and walk-in closet. Pass through to the well appointed kitchen with upgraded white shaker dovetail cabinets with soft-close cabinets with stainless steal appliances, extensive stone backsplash, unique matte granite counters and opens up to the dining and living rooms as well as the 4 panel slider heading out to the backyard. You'll feel the plush carpet as you head upstairs to view the remaining living space. The master en-suite offers a large bathroom and walk-in closet with custom designer tile and nicer finishes. 3 car tandem garage offers an EV outlet. Spend time to check out the multi-million dollar private clubhouse with a heated pool, spa, workout room, playgrounds, sport courts, trails, pickle ball courts and so much more.

19021 W Lawrence Road Waddell, AZ 85355

$824,990
4 Beds
3.5 Baths
3,197 SqFt
Status Active
MLS # 6726645
Property Type Single Family Residence
Price Type --
An 11' ceiling at the Family Room and 16' Multi Sliding Glass Door, making this home perfect for the indoor/outdoor living that is so desired in Arizona. You can enjoy the bright and cozy feel of the Sunroom located off the Dining Room or venture out onto the large Extended Patio to enjoy the outdoors. Located on a Corner homesite, this special plan has many highly desirable upgrades, such as the Extended Family Foyer with Backpack Rack and upper cabinets which helps to keep belongings organized, Manhattan Drywall Finish with Square Drywall Corners and mitered Base Boards, Super Shower in Owner's Suite, Gourmet Kitchen with Gas Cooktop, upgraded cabinets and countertops, along with a custom backsplash and walk in pantry. Too many additional upgrades to list, make this home a Must See!

5549 S Del Rancho -- Mesa, AZ 85212

$824,900
4 Beds
2.5 Baths
3,167 SqFt
Status Active
MLS # 6755822
Property Type Single Family Residence
Price Type --
Located in the premier gated community of Estates at Eastmark. This stunning single-level home offers a spacious layout w/3 bedrms, 2 versatile flex spaces + a den, perfect for a home office. The bright gourmet kitchen opens nicely to the living & dining areas, creating the ideal space for gatherings. The butler's pantry offers extended counter space and cabinet storage. The owner's suite is complete with a large walk-in closet & en-suite bathroom featuring dual vanities, separate tub & a walk-in shower. Step outside to your private, low-maintenance backyard oasis. Enjoy the extended patio, turf, & stylish pergola. The 3-car garage offers ample storage & parking space. Enjoy the Eastmark community with top-notch amenities including parks, pools, gym & highly-rated schools Residents of the Estates at Eastmark have access to their own community center with community pool and spa. It's also gated offering even more privacy. This particular home is adjacent to a large common area with easy access to walking paths throughout the community. Other features of this home include: Wood grain tile plank floors throughout main living areas with carpet in the bedrooms. Owned water softener, window coverings throughout, upgraded lighting fixtures and fans, stainless appliances including a 5 burner gas cooktop. Home offers 2 flex spaces (front parlor and additional play room or teen space) plus a den plus a dining room. Need 2 home offices plus a kids area? Done! Or use one space as a library or music room! Endless opportunities! Eastmark has easy access to Loop 202, Mesa Gateway, shopping, schools, restaurants, you name it!

15832 E Brittlebush Lane Fountain Hills, AZ 85268

$824,900 - 2Br/2Ba -  for Sale in Sunridge Canyon, Fountain Hills
Open House
$824,900
2 Beds
2 Baths
2,203 SqFt
Status Active
MLS # 6768184
Property Type Single Family Residence
Price Type --
Stunning home on a golf course lot in prestigious SunRidge Canyon! This 2,203 sq ft home offers 2 bedrooms, den, 2 baths and heated SPOOL. Custom glass door entry door welcomes you to the spacious living area with gas fireplace. Huge chef's kitchen features Thermador SS luxury appliance package, refinished cabinetry, tile backsplash & R/O system. Step outside to a large covered patio, built-in BBQ grill, gas fire pit and sparkling SPOOL (small pool/spa) with a beautiful water feature. A true entertainer's delight offers great mountain and golf course VIEWS! You'll love the natural light, soaring ceilings, plantation shutters & wood-look plank tile flooring throughout. Double doors lead to a huge master suite. Updated master bath has walk-in shower w/custom glass door, soaking tub, double ramp sinks & Toto toilet. Guest bath is also updated with tile shower, ramp sink & Toto toilet. Den makes for a great office w/custom built-in desk and cabinets. Laundry room offers lots of cabinets for storage. Don't miss out on this home, it won't last long!

1841 W Honeysuckle Lane Chandler, AZ 85248

$824,900 - 4Br/2Ba -  for Sale in Legend At Ocotillo, Chandler
Open House
$824,900
4 Beds
2 Baths
2,592 SqFt
Status Active
MLS # 6776876
Property Type Single Family Residence
Price Type --
Welcome to this charming single-story home, perfectly situated on a spacious corner lot! This inviting property features four bedrooms and two bathrooms, offering both comfort and convenience. Step inside to find beautiful wood flooring that flows seamlessly through the main living areas, complemented by stylish tile in key spaces for an elegant touch. The open layout is perfect for entertaining, with a spacious living room and a modern kitchen ready for gatherings. Outside, enjoy your own private oasis—a sparkling pool awaits in the backyard, ideal for relaxation or weekend fun. With a prime location of chandler Just Reduced 25k

2505 Dillon Boulevard Chino Valley, AZ 86323

$824,575
4 Beds
3.5 Baths
2,844 SqFt
Status Active
MLS # 6779267
Property Type Single Family Residence
Price Type --
Situated on a 1-acre homesite with an East facing backyard this home provides 4-bedroom 3-1/2 bath, formal dining, breakfast area and roomy family room. Enjoy travel? We have an RV space just for you along with plenty of open space to build your own oasis. This property has a bedroom with its own bathroom and walk-in closet is perfect for overnight guests. Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. You won't want to miss out; plan a visit with us today.

1010 Quicksilver Drive Prescott, AZ 86303

$824,500
3 Beds
2 Baths
2,189 SqFt
Status Active
MLS # 6705949
Property Type Single Family Residence
Price Type --
Fantastic home in Copper Canyon Village just minutes from downtown Prescott. This lovely home offers a large living room with gas fireplace, a completely remodeled kitchen with a breakfast niche and formal dining room. the kitchen is equipped with stainless Thermador appliances (gas range/oven & vent hood, microwave, dishwasher & built-in fridge), large corner pantry, custom cherry cabinetry, tile backsplash and granite counter tops. Owners suite situated in its own hall, with dual closets, a garden tub, shower, & separate vanities. Large owners room has access to back patio. Home offers two additional bedrooms AND an office with built-in shelving & a balcony with views. Enjoy the views from the front patio or the private natural settings on the pack patio. Xtra deep 2 car garage/workshop

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