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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1301 S Manzanita Hill Road Prescott, AZ 86303

$3,950,000
4 Beds
5 Baths
3,622 SqFt
Status Active
MLS # 6764604
Property Type Single Family Residence
Price Type --
Extraordinary opportunity to purchase a stunning 7.89 acre hilltop estate just 3 miles from downtown Prescott, AZ. Private yet easily accessible, this one-of-a-kind property offers just the right amount of seclusion for a weekend getaway, a seasonal vacation retreat, or a primary dream estate. Built in 1989, the home features numerous architecturally significant elements including soaring tongue-in-groove ceilings, a breathtaking wall of glass designed to maximize the awe-inspiring panoramic mountain views, and a romantic curved staircase ascending to the upper level. The main home features 2 ensuite guestrooms - one on the main level, one on the upper level. The primary ensuite on the upper level is ideally situated to take full advantage of the magnificent views and outdoor deck space.

10493 E Skinner Drive Scottsdale, AZ 85262

$3,950,000
5 Beds
5.5 Baths
5,944 SqFt
Status Active
MLS # 6763000
Property Type Single Family Residence
Price Type --
FULLY PERMITTED elegant 6,000 sq ft Gramling Architecture designed residence in guard gated Candlewood Estates. The home design features a sophisticated floorplan with 5 spacious bedrooms, a dedicated study, bonus room, and a luxurious attached casita. The elevated lot lends itself to fantastic views of Pinnacle Peak and the surrounding mountains. With soaring ceilings and expansive windows, this home and its location will not disappoint. Troon North is home to the public Troon North Golf Club, grassy parks, endless hiking and mountain biking trails, pickleball and tennis courts, and some of the most beautiful desert scenery in the Valley. Skip the wait and start building now!

2717 E Byrds View Drive Flagstaff, AZ 86005

$3,950,000
4 Beds
4.5 Baths
3,698 SqFt
Status Active Under Contract
MLS # 6750858
Property Type Single Family Residence
Price Type --
Discover your dream home in this luxurious 2021 custom-built, 4-bedroom, 4.5-bathroom, 3,686 sqft residence, perfectly situated on a premium golf course lot at the end of a private cul-de-sac with breathtaking views of the picturesque par-5 4th hole. The thoughtfully designed floor plan balances privacy with open living, featuring a spacious master wing with a private patio, ideal for morning coffee or evening relaxation. Every detail exudes contemporary elegance, from high-end finishes to seamless indoor-outdoor flow. Nestled in the serene beauty of the Pine Canyon community, this exceptional property offers an unmatched lifestyle of comfort and sophistication. Stay tuned—this stunning home won't be on the market for long!

1234 W Orchid Lane Phoenix, AZ 85021

$3,950,000
5 Beds
5 Baths
4,700 SqFt
Status Active
MLS # 6737909
Property Type Single Family Residence
Price Type --
NEW BUILD!! 5-bedroom, 5-bathroom residence that exudes elegance and functionality. Each bedroom is a private oasis, complete with its own on-suite bathroom, offering comfort and convenience for family and guests alike. The heart of the home is the gourmet kitchen, a chef's dream with state-of-the-art appliances, expansive countertops, butler's pantry and custom cabinetry. The dedicated wine room promises to be a connoisseur's delight, perfect for storing and showcasing a prized collection. Dual laundry rooms ensure household chores are handled with ease, providing ample space for organization and storage. The extra-large 3-car garage offers generous space for vehicles and storage, while also serving as a versatile area for hobbies or a workshop. This home is a perfect blend of luxury and practicality, designed to cater to a refined lifestyle. The outdoor spaces of this luxurious home are designed to offer an unparalleled experience of elegance and leisure. Imagine stepping into a meticulously landscaped garden, where the tranquility of nature meets the sophistication of design. A stunning pool and spa serve as the centerpiece, creating a serene oasis for relaxation and social gatherings. Adjacent to the pool, a state-of-the-art outdoor kitchen awaits, fully equipped for al fresco dining and entertainment. Comfortable seating areas are interspersed throughout, featuring plush sofas and lounge chairs, perfect for enjoying the warm Arizona sun or gathering around a sleek fire pit during cooler evenings. These outdoor living spaces are not just visually appealing but are functional extensions of the home, crafted to enhance the joy of outdoor living.

15332 E Hidden Springs Trail Fountain Hills, AZ 85268

$3,950,000
4 Beds
5.5 Baths
4,265 SqFt
Status Active
MLS # 6748881
Property Type Single Family Residence
Price Type --
Stunning Golf Course Lot residence along the Scottsdale-Fountain Hills corridor with sweeping Views of the Fairway, Water & Mountains and NO INTERIOR STEPS, in guard gated Firerock Country Club. Nestled on 2 + Acres, the home was beautifully Remodeled and Expanded in 2019. Ample natural light flows into every living space. The serene and spacious Primary Suite is comfortably arranged with 2 private Bathrooms and a cozy sitting area to relax by the fireplace. Views of the Firerock Golf Course, Four Peaks and the neighborhood lake surround the owners retreat. Similarly, the views from the Living Room and Kitchen-Great Room are breathtaking and balanced by comfortable and gracious interiors. The Attached Casita offers a gracious suite for guests with a private entrance off the Terrace. All Bedrooms have en suite Bathrooms, Walk In Closets and are appointed in soft tones. Running the length of the home, the outdoor Terrace creates a seamless experience from the interior to the gorgeous Mountain and Golf Course Views. Truly an ideal Outdoor Living Space, it is complete with a built-in BBQ, Infinity Pool and Putting Green. Owners use the residents-only west gate which grants immediate access to the Mayo Clinic Scottsdale, BASIS - Scottsdale and Shea/101. This location is a hidden gem, lives like Scottsdale and must be viewed in person to appreciate all this property has to offer.

10764 N 138th Way Scottsdale, AZ 85259

$3,950,000
5 Beds
6 Baths
4,897 SqFt
Status Active
MLS # 6770772
Property Type Single Family Residence
Price Type --
CalAtlantic's largest home with an amazing layout and private guest suite with its own entrance. The pool, hot tub, and pergola overlook the spectacular mountain views. The foyer opens to the formal dining which overlooks the expansive rear courtyard with giant chess pieces and a fireplace. The stunning kitchen features a large center island that overlooks the rear courtyard, a large walk-in pantry, home management area and butler's pantry. The four secondary bedrooms provide for plenty of privacy each with its own bath and walk-in closet. The master suite features two large walk-in closets, a spa-like bath and has the option to open up to the rear covered patio. There is two toned paint, barrel ceilings, charging station, and RV gate. Make this dream home yours today!

2285 E Chandler Heights Road Chandler, AZ 85249

$3,950,000
6 Beds
6.5 Baths
8,415 SqFt
Status Active
MLS # 6766055
Property Type Single Family Residence
Price Type --
Welcome to this timeless and elegant estate in Chandler, Arizona. Completed in 2020, this rare find sits on over 36,000 square feet of land, with more than 8,400 square feet of beautifully designed living space. The home blends sleek modern lines with classic Tuscan elements, adding to its refined elegance. Outside, the spacious, landscaped lot features a grand circular paved driveway and a picturesque water fountain, offering a stunning first impression. The setback, surrounding wall, and lush greenery provide added privacy. With only one owner and no HOA, this home continues to reflect the essence of a newly built home. This exquisite home provides peace of mind with major components such as the roof, AC units, and water heaters still virtually new. If that wasn't enough the solar panels will be PAID OFF at closing adding to its energy efficiency and long-term savings for the new owner. The entrance, framed by a double iron gate, leads to a home filled with luxury details. Upon entering, you're greeted by natural light that flows through the large dual pane low-e windows drawing your eyes to the wood beams and soaring 24-foot ceiling great room featuring a gas fireplace. Two sets of French doors open to reveal a resort-style backyard, perfect for seamless indoor-outdoor living. Arched hallways add a touch of timeless elegance, gracefully connecting expansive living spaces throughout the home. The heart of the home, the gourmet kitchen, is designed to impress. A 20-foot island with breakfast bar seating invites family and guests to gather, while luxury appliances, including a 36 gas oven, a 42 built-in fridge, two dishwashers, and top-of-the-line granite and quartz countertops, make cooking a true pleasure. Custom solid wood cabinetry with soft-close features adds a touch of elegance and practicality. The formal dining room, with its grand chandelier, is ideal for hosting memorable dinner parties. Escape to your private sanctuary in the primary suite, located in its own wing of the home for ultimate privacy. This retreat features an extra-large sitting room, perfect as a personal living area or reading nook, with French doors that open directly to the backyard. The spa-like primary bath offers dual vanities, a heated jacuzzi tub, and a separate shower, creating the perfect place to unwind + there are two separate closets! A private office just off the bedroom adds functionality and privacy for working from home. Entertainment is never far away, with a media/theater-style loft featuring a bar area, perfect for movie nights. The resort-style backyard, completed in 2021, is your private oasis. Take a dip in the heated pool or jacuzzi, relax under the covered patio, or gather under the pergola with ceiling fans for added comfort. A large artificial turf area provides the perfect space for play, while multiple seating areas, a built-in BBQ, and an outdoor fireplace ensure endless possibilities for outdoor enjoyment and relaxation. Located within a top-rated school district and just minutes from the highly sought-after Arizona College Prep High School! Nearby amenities include Chandler Fashion Square, Downtown Chandler, Ocotillo Golf Club, and Downtown Gilbert (just 15 min. away!), all offering excellent dining, shopping, and entertainment options. With easy access to Loop 202, 101, and I-10, commuting is convenient, and the Price Corridor is home to companies like Intel, Northrup Grumman, and Wells Fargo is only 20 minutes away. This extraordinary property offers the perks of city living with the privacy and luxury of a secluded estate! Google Maps will take you to the community behind the home. Please use 13017 E Chandler Heights Rd for accurate directions.

5921 E Silver Sage Lane Cave Creek, AZ 85331

$3,913,995
4 Beds
3.5 Baths
4,315 SqFt
Status Active
MLS # 6746829
Property Type Single Family Residence
Price Type --
Toll Brothers Model Home! This home makes an immediate impression with a lovely foyer flowing into the expansive great room and casual dining area that presents alluring views of the covered patio. A large center island enhances the expertly crafted kitchen that offers plenty of counter and cabinet space, a generous pantry. Featuring a relaxing sitting area and expansive walk-in closet, the palatial primary bedroom suite is highlighted by a spa-like primary bath. Central to a versatile flex room with covered patio access, secondary bedrooms feature sizable closets and a shared bath with separate vanity area. A secluded multi-generational suite with closet, private bath, and living area can be found off the foyer. Additional features include a private office, convenient powder room

2911 E Morrison Ranch Parkway Gilbert, AZ 85296

$3,900,000
6 Beds
6.5 Baths
6,241 SqFt
Status Active
MLS # 6776870
Property Type Single Family Residence
Price Type --
Beautiful custom home in Morrison Ranch All furnishings included. This 6,241 square foot home sits on an acre lot, featuring a full a size tennis/pickleball court, heated pool and spa. A detached garage has access through a separate side gate with room for up to 12 cars, RV and boat parking. The fully remodeled home has six bedrooms and eight bathrooms, including two master bedrooms. A stunning laundry/utility room, gym and game room make this house a rare find. This is a one of a kind opportunity. Don't miss this one.

18720 N 101st Street Unit 3019 Scottsdale, AZ 85255

$3,900,000
3 Beds
4 Baths
3,239 SqFt
Status Active Under Contract
MLS # 6724800
Property Type Apartment
Price Type --
The FINAL and much anticipated phase of the highly successful Icon project now available with construction well underway and estimated completion in 2024. This is not only an opportunity for extraordinary views and new construction , it also continues to be the best opportunity to be inside the gates of Silverleaf. ICON at Silverleaf offers an unlimited lifestyle with the lock-and-leave luxury of exceptional single-story flats amid the incomparable beauty of Arizona's McDowell Mountains. This rare and unique offering of spacious, open-concept residences affords the very best of all possible worlds, close to the cosmopolitan conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert behind the gates of the truly iconic upscale private

36631 N Peaceful Place Carefree, AZ 85377

$3,900,000
4 Beds
4 Baths
5,700 SqFt
Status Active
MLS # 6740677
Property Type Single Family Residence
Price Type --
PRICED TO SELL! Forget for a moment the exterior amenities and that the house is loaded with features. Instead, consider the prime location of this captivating contemporary on Black Mountain in Carefree. Unique in every way! From its circular design to the grandiose living space. Only a stone's throw from outdoor recreational opportunities, local shopping/dining spots, and the town center. As if that's not enough, you'll enjoy sweeping views of the Black & Continental Mountains. After your local excursions, you'll return to the irresistible charisma of contemporary design on a corner lot in a popular neighborhood of low-traffic streets. Whether walking or driving, a circular driveway makes a grand first impression. A second large driveway is at the back of the house.

3350 Bar Circle A Road Prescott, AZ 86301

$3,900,000
4 Beds
6 Baths
11,073 SqFt
Status Active
MLS # 6523694
Property Type Single Family Residence
Price Type --
*Motivated Seller - Seller Financing Avail, $10.4MM Build Cost* Benvenuto a 'Casa di Buona Fortuna'- This Tuscan inspired masterpiece perched in the The Ranch provides breathtaking views, opulent luxury, and convenience unmatched in Prescott. The primary level is centered around an open-air central courtyard and features a sprawling master wing including 1 of 2 private elevators to the lower level, his and hers offices, a sitting area complete with wet bar, and dual walk-in closets large enough for the most extensive wardrobes. Starry-night home theater furnished with plush seating for eight. The opposite wing of suites includes a wet bar, formal dining area, family room, fireplaces and formal living room, spacious kitchen with tastefully appointed with Miele appliance

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