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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15717 W Linksview Drive Surprise, AZ 85374

$799,950 - 3Br/3Ba -  for Sale in Sun City Grand-granite Falls 2, Surprise
Open House
$799,950
3 Beds
3 Baths
2,779 SqFt
Status Active
MLS # 6701833
Property Type Single Family Residence
Price Type --
Do you need room with a view? How about this 3bed/3bath/3 car garage on the 13th T-Box of Granite Falls South * A Handsome Mesquite Model at 2779sf * This is a split bedroom floor plan affording comfort & privacy to the owners and their guests * Granite Countertops in Kitchen w/Island * Featuring recent updating of 2-HVAC systems * Water Softener * Water Heater * SS Refrigerator French Door w/water & ice dispenser * New Carpeting & attractive neutral tile * Irrigation Updated * other important features are Gas Cook Top * Plantation Shutters throughout * Gas Fireplace in Media Wall * SE facing backyard * All Furniture & BBQ are available * The only thing missing is YOU!

2745 N 217th Avenue Buckeye, AZ 85396

$799,900
4 Beds
3.5 Baths
2,639 SqFt
Status Active
MLS # 6755214
Property Type Single Family Residence
Price Type --
Ready NOW!! Brand New Never Lived In! Discover The Juniper Floor Plan: a stunning single-story home designed for luxury and comfort. This expansive 2,639 square-foot residence features 4 bedrooms, 3.5 bathrooms, and a 2-car garage, along with versatile flex rooms to fit your needs. Exceptional Features: 12 FT Multi-Slide Door in Great Room: Effortlessly blend indoor and outdoor living, ideal for entertaining guests or enjoying serene mountain views. Spectacular Mountain Views: Enjoy breathtaking vistas from your home, with direct access to the scenic backdrop of the mountains. Desirable Corner Homesite: Positioned on a prime corner lot, offering enhanced privacy and ample outdoor space. Entertainment-Ready Layout: Designed with an open, spacious floor plan perfect for hosting

708 W Tanya Road Phoenix, AZ 85086

$799,900
3 Beds
2.5 Baths
2,404 SqFt
Status Active
MLS # 6775563
Property Type Single Family Residence
Price Type --
MOUNTAIN VIEWS! This gorgeous home reveals a thoughtfully designed 3 beds, 2.5 baths, & a 2-car garage. Inside, you'll find vaulted ceilings, complemented w/wood-look flooring, stylish light fixtures, ceiling fans, & neutral palette that creates an inviting ambiance. Impressive open floor plan, complete w/a wall-mounted fireplace, enhances space & flow, perfect for entertaining. Well-appointed kitchen boasts abundant cabinets & cupboards topped w/crown molding, SS appliances, a prep island w/a breakfast bar, quartz counters, & a walk-in pantry. Serene main retreat offers plush carpet, a cozy fireplace, & a trending barn door to the ensuite comprised of dual sinks, jetted tub, & a large walk-in closet. For added versatility, this gem includes a flexible den/office & a spacious bonus room! Massive backyard w/a covered patio has tons of room for a pool & your landscape ideas. Look no further! Make it yours now!

1730 Bella Vista Loop Williams, AZ 86046

$799,900 - 4Br/3Ba -  for Sale in Red Lake Mountain Ranch, Williams
New
$799,900
4 Beds
2.5 Baths
2,251 SqFt
Status Active Under Contract
MLS # 6783796
Property Type Single Family Residence
Price Type --
UNDERCONTRACT BEFORE LISTED ON MLS.

2009 Bella Vista Loop Williams, AZ 86046

$799,900
4 Beds
2.5 Baths
2,251 SqFt
Status Active
MLS # 6669041
Property Type Single Family Residence
Price Type --
New luxury homes on 5-12 Acres. SELLER OFFERING TO BUY DOWN INTEREST RATES. Bring your rustic side to this modern ranch-style, 4 bedroom retreat set on Coconino acreage. The ''Canyon View'' base model features a spacious 2251 sq ft floorplan with split bedrooms divided by the kitchen/living area. The open living room & kitchen has a large waterfall island, tile backsplash & a walk-in pantry. Features also include dual paned windows, an extended length 3-car garage & large covered back patio. Red Lake Mountain Ranch is a gated paradise placed between Williams and the Grand Canyon National Park. Subdivision covers 320AC, 54 unique home sites 5 - 12 acres, each with distinctive terrain and panoramic views. 5000 Gallon Cistern. Owner/Agent Listing. Legal Desc. to be confirmed by title.

2533 E Russell Street Mesa, AZ 85213

$799,900
4 Beds
3 Baths
2,462 SqFt
Status Active
MLS # 6782135
Property Type Single Family Residence
Price Type --
Quick Closing Move In Ready with Huge Builder Incentives!! Gorgeous Turnkey Move In Ready Home on the Model row with view fencing and nobody directly behind you! 15Ft Wall of Glass at the great room. Huge kitchen island with beautiful white quartz countertops along with upgrades cabinets plus a stainless steel cooktop package. Amazing butler's pantry to the laundry room and then the garage. Storage dreams! This floor plan features 3 bedrooms plus a Den or use it as a 4th bedroom, 3 full bathrooms and a 3-car garage on a special lot!! Finished and completed this home shows final price after all the options/upgrades. Furniture Does not convey and is used for staging purposes.

1501 N Miller Road Unit 1011 Scottsdale, AZ 85257

$799,900
3 Beds
2.5 Baths
2,080 SqFt
Status Active Under Contract
MLS # 6732406
Property Type Townhouse
Price Type --
COMPLETED NEW HOMES NOW FROM $799900. The Magic of Vistas of Scottsdale. A boutique Enclave of only 16 private, luxury homes in the Heart of Scottsdale - Location is Everything. Open spaces, clean lines & abundant glass create a design experience to merge the indoors and outdoors. Vistas of Scottsdale are curated with a discerning eye using warm, organic tones and natural textures focusing on the personal nature of the home as a retreat. Sweeping Mountain Vistas are captured from the 580sf roof terrace and unique floating overlook to rival a hotel/restaurant environment. The 30ft wide main living area provides unparalleled openness and light. The builder's vision from the inception was to focus on incorporating premium materials to create an innovative Scottsdale lifestyle.

1163 E Holbrook Street Gilbert, AZ 85298

$799,900
4 Beds
3 Baths
2,867 SqFt
Status Active
MLS # 6771087
Property Type Single Family Residence
Price Type --
Now offering private tours of this stunning single-story home located in the highly sought-after Layton Lakes community in Gilbert, AZ 85298. Lovingly maintained by the original owner, this home exudes pride of ownership and attention to detail throughout. From the moment you arrive, you'll be greeted by gorgeous curb appeal and a beautifully manicured front yard. The backyard continues the theme with a tranquil, thoughtfully designed space that's perfect for unwinding in the evenings or enjoying your morning coffee on the serene back patio. Inside, the open-concept design offers a spacious great room, a gleaming gourmet kitchen, and wide hallways that lead to generously sized bedrooms. The split floor plan ensures privacy, while the oversized rooms provide flexibility and comfort for any lifestyle. Home chefs will love the impressive kitchen, complete with a large gas cooktop and sparkling GE Monogram appliances. The buffet bar is ideal for hosting gatherings, making holiday entertaining a breeze. The east wing of the home is perfectly set up for guest accommodations, with two bedrooms, a full bathroom, and a cozy family room. One of the three-car garages is conveniently accessible from this wing, offering added privacy for guests or multi-generational living. South Gilbert is known for its vibrant community atmosphere, growing businesses, and convenient access to Loop 202, making commutes around the Valley quick and easy. With outdoor recreational opportunities, award-winning schools (Chandler School District), and plenty of local events, it's a fantastic place to call home. Don't miss out on the opportunity to own this exceptional home in one of Gilbert's most desirable communities.

26715 N 19th Drive Phoenix, AZ 85085

$799,900
4 Beds
3 Baths
3,265 SqFt
Status Active
MLS # 6755777
Property Type Single Family Residence
Price Type --
Located just minutes from the vibrant shops at Norterra, Happy Valley Towne Center, and Sonoran Desert Village, this home offers the perfect blend of comfort, convenience, and luxury. This stunning 4-bedroom, 3-bath home nestled in the highly sought-after 85085 area. From the moment you step inside, you'll be captivated by its spacious design, featuring a split floorplan, a cozy den, and both formal living and dining rooms. The heart of the home is the expansive great room, complete with granite counters, a gas range, and custom cherry wood cabinets. Enjoy the luxury of custom wood shutters and ceiling fans throughout. Recent upgrades include a water heater (2021, $2,000), dishwasher (2023, $700), stove (2024, $1,200), new flooring upon move-in ($25,000), and a brand new Trane AC system installed this week (2024, $24,000). Step outside to your private backyard oasis, perfect for entertaining or relaxing year-round. Take a dip in the heated Pebble Tech pool with a soothing waterfall feature, unwind in the spa, or gather around the outdoor fireplace. Fire up the built-in gas BBQ under the entertainment-sized covered patio, surrounded by lush, custom landscaping in both the front and back yards.

15802 N 71st Street Unit 604 Scottsdale, AZ 85254

$799,900
2 Beds
2 Baths
1,466 SqFt
Status Active
MLS # 6749936
Property Type Apartment
Price Type --
The Landmark features Resort style living at its finest with excellent amenities & an unbeatable location. Walk to some of Arizona's best dining & shopping options at Kierland & Scottsdale Quarter from this fantastic. Featuring an open great room floor plan, granite countertops, wood flooring and new carpet. This two bedroom two bath split plan unit is turnkey ready. Community features include 24-hour guard gated entrance, concierge, porter, luxurious clubhouse, conference room, heated pool & spa, BBQ area, pizza oven, two fitness centers with steam room & locker rooms. With its spacious 1446 square feet of open living space, high-quality finishes, generous-sized bedrooms with walk-in closets, and ensuite spa-like bathrooms this unit perfectly balances space and style.

4142 E Zion Place Chandler, AZ 85249

$799,900
3 Beds
2.5 Baths
2,425 SqFt
Status Active
MLS # 6757318
Property Type Single Family Residence
Price Type --
Your DREAM home is here! This gorgeous home includes 3bed/2.5baths with an office. Its charm starts with a manicured landscape & a paver driveway. Home exudes elegance with designer paint, modern light fixtures, tons of natural light, and neutral & wood-look tile flooring t/out. You'll love the large living room with multi-sliding doors to the back! The gourmet kitchen boasts granite counters, ample white cabinetry, a walk-in pantry, a huge island, and SS appliances w/cooktop gas & wall ovens. Main bedroom has outdoor access and an ensuite that offers dual sinks & a walk-in closet w/laundry access. Discover the spacious backyard oasis on an Oversized Lot with a covered patio, built-in BBQ under the Pergola, & a sparkling pool for year-round enjoyment.

9963 E Sleepy Hollow Trail Gold Canyon, AZ 85118

$799,900
3 Beds
2.5 Baths
3,098 SqFt
Status Active
MLS # 6782018
Property Type Single Family Residence
Price Type --
Looking for a golden nugget in Gold Canyon? This custom 3100 sq ft home situated on a 1-acre lot featuring three bedrooms, 2.5 baths, large office and much, much more. The split primary suite is expansive and offers spa like bathroom, 2 walk-in closets, separate shower and jetted tub. Amazing kitchen with breakfast nook opens to the family room and access to the wrap around patio that encompasses amazing views of the Superstition Mountains. Multiple Living areas both inside and outside give the perfect space for entertaining family and friends. Detached 4 car garage (1200+sq ft) is just what the car enthusiast needs. The fenced 1-acre lot is all usable with great space for a RV garage/workshop or casita. Don't miss viewing this special home. You may just strike gold!!

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