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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16970 W Baker Street Surprise, AZ 85387

$799,000
4 Beds
3 Baths
2,685 SqFt
Status Active
MLS # 6767843
Property Type Single Family Residence
Price Type --
Another Conway Homes custom beauty in Surprise on an acre lot with no HOA! This almost-complete home offers 4 bedrooms & 3 full baths in 2685 Square Feet with an open great room layout and additional teen room. The kitchen is nicely designed with shaker cabinetry, quartz countertops, stainless appliances including a gas cooktop and pot filler, a walk-in pantry, and large island with breakfast bar & pendant lights. The great room has an electric fireplace and access to the patio and backyard. Split bedroom layout with the primary having an en-suite bath with dual sink vanity, separate tub & shower, and walk-in closet. A 2 car plus connecting RV garage offer plenty of room for cars and toys with direct access into the home for convenience.

2627 W Marita Street Queen Creek, AZ 85144

$799,000
4 Beds
3 Baths
3,205 SqFt
Status Active
MLS # 6777088
Property Type Single Family Residence
Price Type --
BRAND NEW Construction w/ Custom-Quality Upgrades throughout! This beautiful Modern Farmhouse is located on 1.25 ACRE of Horse Property w/ a TEEN ROOM & DEN. Gourmet Kitchen w/ high-end Cabinets w/ 42'' uppers, White Quartz Countertops, WOLF GAS Oven/Cooktop, STEAM OVEN, Stainless Steel Microwave & Wood Plank Tile Floors. Stunning Master Bathroom w/ Freestanding Soaking Tub, BEACH ENTRY Glass Shower & Double Vanities. Exceptional Energy Efficient - boasting Spray Foam Insulation, Premium Trane AC units & High-end Windows. Superior Construction & Craftmanship includes Premium Roofing System, Premium Synthetic Stucco & much more! $5,000 to Buyer at Close of Escrow which shall be used towards Buyer installing a water filtration system. COMPLETED in MARCH.

4442 N Ashbury Court Apache Junction, AZ 85119

$799,000
4 Beds
3 Baths
2,766 SqFt
Status Active Under Contract
MLS # 6748678
Property Type Single Family Residence
Price Type --
BRAND NEW Construction w/ Custom-Quality Upgrades throughout! This beautiful Modern Farmhouse is located on 1 ACRE of Horse Property. Gourmet Kitchen w/ high-end Cabinets w/ 42'' uppers, White Quartz Countertops, 36'' Cooktop, Built-in Stainless-Steel Microwave Drawer, WOLF GAS Oven/Cooktop & Wood Plank Tile Floors. Stunning Master Bathroom w/ Freestanding Soaking Tub, BEACH ENTRY Glass Shower & Double Vanities. Exceptional Energy Efficient - boasting Spray Foam Insulation, Premium Trane AC units & High-end windows. Superior Construction & Craftmanship includes Premium Roofing System, Premium Synthetic Stucco & much more! $5,000 to Buyer at Close of Escrow which shall be used towards Buyer installing a water filtration system. MOVE IN ready around Dec/Jan.

218 E Sunburst Lane Tempe, AZ 85284

$799,000
4 Beds
2.5 Baths
2,438 SqFt
Status Active
MLS # 6782243
Property Type Single Family Residence
Price Type --

8505 S Breezy Pine Road Mayer, AZ 86333

$799,000
3 Beds
3 Baths
3,196 SqFt
Status Active
MLS # 6727926
Property Type Single Family Residence
Price Type --
A Cabin up North, that's more like a Dream Home! Gorgeous Views! Ponderosa Pines! Cool Weather! AirBnB Opportunities! 3 Bedrooms / 3 Baths / 3,120 s.f. on 2.25 Acres / Built 1999 This secluded, turn-key 3-story home and detached Workshop/Garage/Yoga room are ready for you and your family to enjoy year-round. Located just south of Prescott in the Prescott National Forest. The main (2nd) level includes a large kitchen, Granite countertops, an island, custom Hickory cabinets, lots of storage, stainless steel appliances, a dining area, a family room, 2 guest bedrooms, a full guest bathroom, and a mud room. The large master suite is on the top floor with a private loft, a sitting room, 2 closets, a master bathroom, and a balcony. The lower level has wainscoting, tongue and groove ceiling, a full bathroom and walkout patio adding another dimension to the home for privacy. Use it for a recreation room, additional bedroom, or office. Conveys with FURNISHINGS & a Tractor (see pix of Tractor in garage). Ready to AirBnB at ~$500/night if you choose to. APS power grid, plus Solar (leased ~$70/mo) Private Water Well with (2) 1500 gallon Water Tanks Septic System; plumbed for Fire Sprinklers. NO HOA Tax Parcel 205-14-247C; Prop Taxes only $1420 (2022 Final) SELLER FINANCING potential: Sub2 opportunity to take over ~$720k loan at 4.375%, PITI ~ $4500.

32269 N 133rd Drive Peoria, AZ 85383

$799,000
3 Beds
2.5 Baths
2,503 SqFt
Status Active
MLS # 6740921
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the desirable Vistancia Village community! This stunning single-story residence offers 3 bedrooms, 2.5 bathrooms, and a spacious 3-car garage, providing ample space for both living and storage. Spanning 2,503 sqft, the open floor plan boasts a modern kitchen equipped with sleek Quartz countertops and stainless-steel appliances, perfect for culinary enthusiasts. The primary suite is a luxurious retreat with an ensuite bathroom featuring a huge glass and tile multi-head shower for a spa-like experience. Step outside to a beautifully landscaped, low-maintenance yard complete with cool turf and anti-reflective windows—perfect for enjoying sunny days in comfort. This eco-friendly home also includes solar power. As a resident of the Vistancia Village community... you'll have access to fantastic amenities such as a clubhouse and a heated pool, making this home not just a place to live but a lifestyle to love. Don't miss out on this exceptional opportunity!

2575 W Road 1 S -- Chino Valley, AZ 86323

$799,000
3 Beds
2 Baths
1,456 SqFt
Status Active
MLS # 6749489
Property Type Manufactured Home
Price Type --
Gorgeous Ranch This stunning 3-bedroom, 2-bathroom ranch home combines rustic charm with modern conveniences. Relax in the luxurious Cowboy Spa or enjoy the meticulously maintained gardens surrounding the property. Perfect for horse enthusiasts, this ranch features a 14-stall barn with runs, a tack room, office/lab, cross ties, wash areas, a round pen, and a roping arena. With three expansive pastures, an exceptional well, backup generators, and additional holding tanks, this property is fully equipped for boarding and training horses. Conveniently located close to town and restaurants, this ranch offers both a serene retreat and easy access to amenities. Whether you're looking to manage a profitable equestrian business or simply enjoy a peaceful country life style

1693 E Maryland Avenue Phoenix, AZ 85016

$799,000
2 Beds
2.5 Baths
1,793 SqFt
Status Active
MLS # 6754336
Property Type Townhouse
Price Type --
Own a piece of Phoenix history with this stunning Mid-Century Modern townhome designed by the renowned architect, Al Beadle. Its inclusion on the National Registry of Historic Places not only offers significant tax savings but also stands as a testament to its historical importance. This tastefully updated, well-maintained townhome seamlessly blends timeless minimalist design with contemporary amenities. Its peaceful dead-end street location in the heart of the Biltmore area is walking distance to the bustling 16th corridor with its dozens of restaurants while also offering a short, easy drive to Sky Harbor Airport and downtown Phoenix. The modern kitchen boasts stainless steel appliances, gas stove, a wine fridge, quartz countertops, sleek cabinetry and bar seating for casual dining. The 2 master suites upstairs each have thoughtfully updated modern and elegant bathrooms with dual sinks and showers. Floor-to-ceiling windows flood the home with natural light, creating a bright and inviting atmosphere while offering unobstructed views of the outdoor oasis, designed for both relaxation and entertainment. Enjoy year-round use of the plunge pool, thanks to its new heater. The spacious garage accommodates two cars and features an epoxy floor and built-in storage cabinets, providing both functionality and style.

15751 W Linksview Drive Surprise, AZ 85374

$799,000
2 Beds
2.5 Baths
2,582 SqFt
Status Active
MLS # 6777968
Property Type Single Family Residence
Price Type --
Beautiful Rosewood on GF South GC 13th green. Great curb appeal w/ faux stone accents & courtyard. Open floor plan w/ bar/open sitting area & fire place in great room. Updated kitchen w/ island, granite counter tops, gas cook top, SS appliances, updated cabinets, breakfast bar, skylights & walk-in pantry. Eating area off kitchen w/ door to the back patio. Primary suite has a door to the back patio, double sinks, granite counter tops & walk-in closet w/ built-ins. En suite guest bedroom w/ wood laminate flooring & bathroom w/ granite counter top. Powder room. Den/office. Inside laundry. Owned Solar. Water heater 2023. Roof partial 2019. 3 car garage w/ cabinets. Enjoy the beautiful outdoor living space on the extended back patio w/ water feature, misters & raised seating area.

13013 N Panorama Drive Unit 128 Fountain Hills, AZ 85268

$799,000
2 Beds
2 Baths
1,605 SqFt
Status Active
MLS # 6756907
Property Type Apartment
Price Type --
Beautiful downstairs two bedroom, two bath unit. Located in one of the most desirable communities in Fountain Hills. Complex located on the north side of Fountain Park. Gated community with a gorgeous clubhouse, heated pool and spa. Fantastic views. Close to downtown Fountain Hills dining and shopping as well as local hiking trails. The sellers are interim occupants, so this unit is lightly used and well-maintained. Whether you are looking for your forever home, a seasonal get-away or a great investment for additional income, please make it a priority to see this awesome property. Furniture is available on a separate bill of sale.

830 Hoosier Pass Prescott, AZ 86301

$799,000
3 Beds
3 Baths
2,759 SqFt
Status Active
MLS # 6763678
Property Type Single Family Residence
Price Type --
Nestled in the heart of the highly sought-after Prescott Lakes community, this recently remodeled home offers main-level living with breathtaking views of Granite Mountain by day & twinkling city lights by night. The mature landscaping creates an inviting first impression as you approach the home. Upon entering, you are welcomed by a modern tile foyer, with the living room to your left. This space features a soaring flat ceiling, a cozy gas fireplace, a large picture window, and beautifully laid diagonal wood floors, creating a warm atmosphere. Adjacent to the living room is the formal dining area, finished with the same stylish tile as the foyer, offering a seamless transition between spaces. The kitchen is a chef's dream, boasting stainless steel appliances, including a trash compactor, custom cherry-wood cabinetry, and stunning concrete countertops that add a unique, artistic touch. Just off the foyer, the den/office provides a flexible space that could easily be converted into a third bedroom if desired. The luxurious primary suite is a serene retreat, featuring an ensuite bath designed for relaxation. It includes a walk-in shower with rain glass, dual sinks with concrete countertops, ample cabinetry, and a spacious walk-in closet. This level also includes a second bedroom, a full bath, and a convenient laundry/mudroom that leads to the 2.5-car garage. Step outside onto the expansive covered deck, where you can soak in the panoramic views while enjoying Prescott's mild year-round climate. The lower level is a bonus, offering a large family room with picture windows that bring in plenty of natural light and access to the backyard and patio. The third bedroom is spacious and comes with an ensuite bathroom, perfect for guests or extended family. The backyard is an entertainer's dream, featuring a beautiful paver patio that extends beyond the deck, ideal for a firepit and providing privacy from neighboring homes. This home is a rare opportunity to enjoy the comfort and amenities of living in Prescott Lakes, with its resort-style offerings.

821 E Monte Way Phoenix, AZ 85042

$799,000
4 Beds
3.5 Baths
3,554 SqFt
Status Active
MLS # 6765675
Property Type Single Family Residence
Price Type --
Own Solar and Save on AC Bills! Nestled in the gated Avance community at South Mountain, this nearly new 4-bedroom, 3.5-bath home offers stunning city and mountain views. The main level boasts a spacious great room, island kitchen with quartz countertops, double oven, gas range, and abundant storage. A guest suite with a full bath, plus a half bath, are also located downstairs. Upstairs, enjoy a large loft, laundry room, two additional bedrooms, and the expansive primary suite, which features dual vanities, a soaking tub, walk-in shower, walk-in closet, & an attached bonus room perfect for an office or media room. Outside, you'll find a low-maintenance yard with turf and a 3-car tandem garage. The community offers a pool, gym, views, & a community center. Sustainable living at its best!

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