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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20908 W Durango Street Buckeye, AZ 85326

$3,900,000
8 Beds
8 Baths
5,512 SqFt
Status Active
MLS # 6688225
Property Type Single Family Residence
Price Type --
One of a kind commercial vet clinic/breeding facility including two residential homes. Vet clinic/breeding barn is complete with three 12' roller doors, front office, 2 stalks w/ foal cage, cabinetry, electric and hot/cold water. Bathroom w/washer, dryer, tub and sinks. 4 inside foaling stalls with turnouts. Apartment inside barn complete with bedrooms, kitchen and lab area. 60 covered stalls, several acres of irrigated safe pasture with automatic waters. Covered hay barn, two 40' storage containers. Stud teasing stall 25'x13' with 50'x50' turn out. Three car detached extended garage. Two beautiful identical homes 4 bedroom 2 bath slump block, tile roof, wood shutters, automatic security shades, carpet and tile throughout both homes. Shared well. 10 acres just 2 miles from I-10/ Verrado.

7254 E Sonoran Trail Scottsdale, AZ 85266

$3,900,000
5 Beds
6 Baths
6,438 SqFt
Status Active
MLS # 6731933
Property Type Single Family Residence
Price Type --
Located in the guard-gated community of Whisper Rock, this stunning residence is thoughtful. An open concept plan, this home features the latest finishes, all on one level. Fabulous entertainer's kitchen with furniture grade cabinetry, pantry with wine refrigerator. 4 guest bedrooms in the main house, each with ensuite and walk-in closets. Master suite has his & her walk-in closets and luxurious bath. Custom office with floor to ceiling woodwork. Prewired for 4 fully automated lighting and AV control. Smart pool with unique lighting features. Retracting glass doors bring the outdoors in, showcasing the grand pool area & surrounding scenic desert views

6950 E Cactus Wren Road Paradise Valley, AZ 85253

$3,900,000 - 3Br/3Ba -  for Sale in Ritz-carlton Parcel B, Paradise Valley
Open House
$3,900,000
3 Beds
2.5 Baths
3,224 SqFt
Status Active
MLS # 6753478
Property Type Single Family Residence
Price Type --
*Stunning Modern Luxury Home in Azure, Paradise Valley's Exclusive Gated Community** Discover this luxurious modern home located in Azure, one of Paradise Valley's premier gated communities. This exquisite property blends contemporary design with high-end finishes, offering an unmatched living experience. Upon entry, you are welcomed by soaring ceilings and an open-concept layout that seamlessly connects the living, dining, and entertainment spaces. The gourmet kitchen features top-of-the-line stainless steel appliances, custom cabinetry, and a large island with waterfall edges—ideal for both casual meals and entertaining. The home is filled with luxury details throughout, including expansive windows that flood the space with natural light and offer stunning views of the desert landscape.

10119 E Horizon Drive Scottsdale, AZ 85262

$3,895,000
4 Beds
4.5 Baths
4,128 SqFt
Status Active
MLS # 6785085
Property Type Single Family Residence
Price Type --
Welcome to 411 Eagle Feather, a beautifully updated custom home on the 3rd hole of Desert Mountains Renegade Golf Course. This home offers contemporary design and stunning views, all with ZERO interior steps. The south-facing outdoor space is perfect for desert living, capturing year-round sunshine and offering panoramic views of the golf course, mountains, sunsets, and city lights. Entertain with ease, whether by the pool and spa, around the firepit, or in the outdoor kitchen featuring multiple grills, a cooktop, fridge, and an island with built-in seating. Inside, the heart of the home is the spacious kitchen and great room, which seamlessly flows to the outdoor living areas through pocketing glass doors. The chefs kitchen is equipped with updated cabinetry, a large island, Wolf/Subzero appliances, an oversized pantry, and a pass-through window to the courtyard firepit. The split floor plan includes a private master suite, two guest ensuites in the main home, and a detached casita with its own living space and full ensuite ideal for longer-term guests. An oversized three-car garage provides ample space for your outdoor adventures. Located in the exclusive Desert Mountain community, this home is just minutes from the new Renegade Clubhouse for golf and dining, as well as the Sonoran Club for pickleball, tennis, and fitness. With seven golf courses, seven clubhouses, ranch amenities, and scenic trails bordering the Tonto National Forest, Desert Mountain offers a lifestyle unlike any other. Close proximity to main gate allows for easy access to all of Scottsdale, Carefree and Cave Creek. This home is more than just a place to liveits a sanctuary where elegance, comfort, and the desert landscape come together.

6616 E El Sendero Road Carefree, AZ 85377

$3,895,000
4 Beds
4.5 Baths
7,085 SqFt
Status Active
MLS # 6768686
Property Type Single Family Residence
Price Type --
STUNNING HILLSIDE HOME w/Mountain & City light views. Relax in peaceful surroundings to experience the pure magic of this very special home. This chic & stylish Southwest home is truly one of a kind offering a harmonious blend of elegance with a relaxed feel. Grand entryway leads into welcoming foyer w/ rustic wood vaulted ceilings w/heavy beams which continue t/o the home. Abundance of natural light creates an inviting ambiance in the Formal Living Rm w/cozy wetbar. Recent main level flooring update; Living Rm, Family Rm and Master/Guest EnSuite...all have been leveled for seamless transitioning throughout. Lovely European Kitchen is culinary delight w/huge island, quartz counters, Wolf Appls & walkin pantry. Dining area w/easy access to patio for exceptional outdoor entertaining...Cont All Four bedrooms are en-suite, offering unparalleled comfort and privacy. Two of the bedrooms are master suites, each with their own unique character & luxurious features. The Upper level Primary Master Retreat is a sanctuary unto itself, complete with spacious living area, custom built-in king platform bed, large spa-like bath with double sinks, large shower, free standing tub, custom walk-in closet, mini-bar w/sink, multiple balconies to relax and enjoy an amazing sunrise & sunset. The second master bedroom is located on the main level of the home w/cozy living area & gas fireplace, full bath w/soaking tub, separate walk-in shower, walk-in closet & access to back patio. The remaining two bedrooms each offer their own distinct charm, each being en-suite. The outdoor spaces of this home have been meticulously re-hardscaped and landscaped, creating a resort-like oasis and truly a paradise, offering multiple seating areas with Pergolas that can be opened and closed to control sunlight, gas fireplace, wood-burning fire pit and built-in BBQ area with refrigerator. The heated pool and spa complete this outdoor haven, providing a perfect place to relax and soak in the stunning surroundings. This extraordinary home is a rare find that seamlessly combines the essence of the Southwest. From the elegant finishes and spacious living areas to the enchanting outdoor spaces with absolutely the most breathtaking majestic views, this residence offers a lifestyle of unparalleled luxury and tranquility. Don't miss the opportunity to make this masterpiece your own. Come experience the magic of this exceptional home.

4333 E Mcdonald Drive Phoenix, AZ 85018

$3,890,000 - 4Br/6Ba -  for Sale in Marion Estates, Phoenix
Open House
$3,890,000
4 Beds
6 Baths
6,708 SqFt
Status Active
MLS # 6768639
Property Type Single Family Residence
Price Type --
Unbelievably beautiful Camelback Views from the front courtyard, kitchen, family room, back yard and upper rooms. Beautiful renovations from 2021-2024. The Chefs kitchen and extended island is situated perfectly in the center of the home overlooking the stunning Camelback Mountain Views. The entrance of the room is breathtaking, with high ceilings, incredibly open concept and a dream for entertaining. The home offers 4 large bedrooms with ensuites in each room, large walk-in closets in each room, an over sized game room/theater room/or second family room. This home has everything you need and more. With newly renovated bathrooms, new electric wiring, new plumbing, and much more. This is a must see, you will be overwhelmed with the gorgeous views and space.

5339 E Desert Vista Road Paradise Valley, AZ 85253

$3,874,000
4 Beds
3.5 Baths
5,533 SqFt
Status Active
MLS # 6585543
Property Type Single Family Residence
Price Type --
MOTIVATED SELLER! Panoramic view estate! Gated 4 Bedroom, 3.5 Bath property, with a 3-car garage equipped with a Tesla charger, Enter private courtyard and a dramatic pivot front door that welcomes you into the foyer with high beam ceilings. Amazing views from all vantage points. Updated Kitchen with huge island, updated appliances, gas cooking and commercial refrigerator/freezer. Family room with gas fireplace overlooking east-facing backyard with luxurious pool, turf area and gazebo. Billiard room with hidden wine room. Primary Bedroom with wrap-around balcony, updated Bath with views from soaking tub. Dual closets and walk-in shower. Full casita over garage with living room, kitchenette, bedroom, bath and walk-in closet, great views from balcony. Ready for new owners! Updates include: Roof, ACs, electrical, interior/exterior paint, baths, kitchen. Home is served by SW Gas and is ON SEWER!

39081 N Crested Quail Run Carefree, AZ 85377

$3,860,000
5 Beds
4.5 Baths
6,920 SqFt
Status Active
MLS # 6670266
Property Type Single Family Residence
Price Type --
It's one thing to live in the desert. It's another to experience living in the Sonoran Desert. Welcome to Ocotillo Ridge Estates! This beautiful, John Schultz custom home is surrounded by mountain views, high desert vegetation and a variety of wildlife, that gives one the sense of communing with nature. The home is nestled on a 4.4 acre lot with numerous ocotillos, saguaros and other types of native plants and cacti. The driveway guides you past a 2 BR casita to the main house. Along the way, artisan crafted wood gates mark the entry points to the front patio and mesquite entry door. Once inside, you immediately notice that this is not your normal boxy home design. You'll also discover that every room is oversized. Distinctive elements, such as custom-built Alder cabinets throughout, provide the warmth needed to make this house a home. An open design allows hosts to entertain large gatherings without feeling cramped. There are 4 large sliding glass panels in the Great Room that hide into a pocket and allow the party to flow outside into an expansive covered patio. Turn up the sound system and enjoy! The main house has 2 MBRs and 1 Ensuite BR. The MBR wing boasts an oversized MBA, a huge walk-in closet, a separate exercise room (with exit to an outdoor spa) and another door leading to a private outdoor shower. On the opposite side of the house, the other MBR has a sunken area perfect for reading, studying, working or just plain relaxing. A private exit to the large backyard and infinity pool can be found there as well. The main house also includes a chef's kitchen with a large island, walk-in pantry and breakfast nook. Stroll around to locate the laundry (with built-in ironing board), an office with 2 book closets, a Powder Room and a separate media closet to 'hide' all your audio/visual technology. The casita, while under the same roof as the main house, has its own private entry and outdoor parking space. The design of interior is fashioned after a charming Mexican...casita, with a large family room, full kitchen and washer/dryer closet. The 2 bedrooms share a bathroom with a large walk-in tiled shower. Guests can access the pool, spa and back patio through a delightful side yard. All you'll need to begin enjoying your new home in Carefree is there. After all, the town is not named Carefree for nothing...and neither is Ocotillo Ridge Estates!

28225 N 136th Street Scottsdale, AZ 85262

$3,850,000
8 Beds
7 Baths
7,200 SqFt
Status Active
MLS # 6777351
Property Type Single Family Residence
Price Type --
The 17 Ranch was completed in 2019 making it one of the newer built ranches in the Foothills area. No need to wait on lengthy permit processes or builders timelines. This multifaceted property is not only income producing but has the flexibility to suit almost ANY discipline! Currently has reining footing but could easily add boxes and a return alley for roping and PLENTY of room for jumping or dressage court. Even room to add additional barns! Very good well with 10,000 gallon storage tank. Maintains in the 90 percentile filled water capacity throughout the day, handles ranch and tenant needs very readily. In the Epcor district Above ground 6000 gallon tank for emergencies and arena maintenance if using the motorized water wheel to wet the arena, all come with the ranch sale. Tenancy has zero vacancies on the casitas and apartments and all come FULLY FURNISHED AND TURNKEY!! Many tenancies in place for long term contracts but also have clauses in event the ranch sells Heated pool and spa along with luxury finishes and 12' ceilings make the casitas high end rentals or a great communal living area. The casitas can be easily joined if a larger home was needed. A fourth casita can be built as there is a pad and plumbed in. The casita area has mutilple opportunities and sit on a two acre parcel. The ranch is 6 acres with 4 PIDs. Zoned Ag Exempt Two barns seperated on the property for privacy for each barn. One has 12 stalls, the other has 5 stalls. Show barn has a high end luxury suite attached to the barn which is suited for luxury living or turn that space into an office. 12 stall barn has two 2 bedroom apartments attached making it perfect for staff to easily watch horses with windows facing into the barn. Or these make great rental properties as well and stay full with a wait list. This 12 stall barn would easily convert into a fully enclosed barn if needed. You can open the middle stall wall to make 12x24 stalls for mares and babies or foaling stalls Barns have timers on fans and lights and also automatic waterers. Many horse ammenties on this ranch including a large hay/shaving barn and 4 turn outs. Literally ride out the electronic gate at the 136th entrance to the Fraisfield Trailhead. There is hundreds of acres of non motorized trails designed with horses in mind. The 17 Ranch sits right beside this preserve and the opportunity for a trail riding business is in place. Or take colts and show horses out on safe good riding trails for conditioning and training breaks. Arena is 140' wide and 280' long with Reining horse base and footing. Large enough to accomodate most disciplines.You could easily put in roping chutes and boxes for a great covered roping arena. Need more stalls? Very easy to add to the existing show barn or theres multiple build sites to add other barns. (please see renderings pictures). The ranch was built with the idea to add more stalls. Ask for more information. This is an easy fix and was addressed in the build process. There is a 40' lane along the south side of the arena that could become a barn with 20 stalls, opening to the arena. Also giving full privacy from the road, or build an overhang along the south side of the arena to give privacy and/or park equipment under cover. Also, this area would be a great place for more horse or catlle pens. Its an opportune area to utilize for many needs. Worried about the Rio Verde frontage? Easy fix as the owner has cleared the easement and is beginning plans for trees and privacy shrubs!!! Another option is to use the 280' south (Rio Verde Dr frontage)side of the arena as your own ranch signage and freely market your business to the traffic flowing by daily. There are so many opportunities to create privacy while also capitalizing on what every business needs...EXPOSURE! Access to the ranch on the west side is from 136th making this ranch fully accessible by pavement. On the east side of the ranch is 138th which gives the casitas their own private entrance creating an independant seperate flow for both the tenants and horse operation. The ranch has been working on a C2 rezone and there is potential for a buyer who may want a feed/livestock store. This Rio Verde Dr frontage property makes it the prime location for future commercial rezone. If rezoned today, that could mean this property is worth upwards of $7m commercially so this makes this ranch an incredibly unique investment holding property. Not many ranches in the area have the potential for an investment growth like this ranch does. Being at the intersection where Scottsdale meets the Foothills makes The 17 Ranch the opening corridor to the Foothills and all the potential that comes as the area experiences growth. The ranch is one of the only ranches to have City of Scottsdale easement frontage. This frontage could prove beneficial as the neighboring properties develop. Operate this current turnkey business AND horse facility now and sell later when development demands this corner!!! The 17 Ranch was built to be a fully functioning horse ranch with the unjque opportunity for tenants to live with their horses. Keep it as is and experience the good cash flow generated by horses and tenants, or build more stalls and turn it into a premier horse training location with a very bright and solid future!!! YOUR OPPORTUNITES ARE ENDLESS!! THE 17 RANCH All residences come fully furnished with high quality furnishings and finishes. 3 casitas... each one bedroom one bathroom 1000 sq ft each 2 apartments...each two bedroom one bathroom 850 sq ft each 1 suite...one bedroom one bathroom great room with kitchen 1000 sqft 7 full hookup RV spots 5 stall block show barn with wash rack, tack up stall, cedar wall tack room, AC dog room and two tie poles, 2 oversized stalls and 3 12x12 stalls 12, 12x12 mare motel with custom built stalls, tack room and washroom for clients and trainer Large hay barn for hay, shaving and equipment storage 4 turn outs, 3 have shade covers Fully irrigated landscaping in casita area with gated entrance and heated pool and spa Dog fencing with no climb around horse ranch

27264 N 103rd Way Scottsdale, AZ 85262

$3,850,000
5 Beds
4.5 Baths
5,944 SqFt
Status Active
MLS # 6779860
Property Type Single Family Residence
Price Type --
Luxury living at its finest in the exclusive Estancia community. This stunning one-level soft-contemporary home has 4 beds, 3.5 baths + an office + a detached guest home all located on an interior lot w /breathtaking views. This beautifully designed, open floor plan offers seamless flow for entertaining, with a gourmet kitchen adjacent to a spacious family room, along with separate living and dining rooms. The layout features a large master suite and office on one side, while three additional bedrooms and two bathrooms are thoughtfully separated on the other. Modern decor elements include expansive butt glass windows, beamed ceilings, three gas fireplaces, striking stone columns, hardwood and natural stone flooring, slab granite countertops, stainless steel appliances, and a wet bar. The spacious outdoor living area features full length covered patio, built-in BBQ, firepit, & pool w/spa and boulder water feature. All of this with tremendous views of Pinnacle Peak and fabulous sunsets.

7501 E Cholla Lane Scottsdale, AZ 85250

$3,850,000
5 Beds
4 Baths
4,356 SqFt
Status Active Under Contract
MLS # 6723664
Property Type Single Family Residence
Price Type --
Located on a quiet cul-de-sac in the vibrant heart of Old Town, this exquisite residence offers a thoughtfully designed open floor plan that masterfully blends indoor comforts with outdoor delights. The expansive primary suite is designed as a private retreat, featuring a cozy fireplace and a separate sitting area. The chef-inspired kitchen is a highlight, centered around a striking cascading island and outfitted with stainless steel appliances, well equipped for both intimate family dinners and large gatherings.The dining space accommodates up to 12 guests and flows beautifully into a spectacular backyard through massive 20-foot pocket doors. This outdoor paradise boasts a putting green, several inviting fireplaces, a pergola and a swimming pool, creating a perfect setting for -- entertaining or relaxation. Further enhancing this home's appeal is the extensive 4-car garage along with an RV pad, offering plentiful space for parking and additional storage. This property stands as a beacon of sophisticated and elegant living within Old Town, with easy access to Sky Harbor Int'l Airport, Fashion Square mall, dining, golf courses, major freeways & much more!

7101 E Berneil Lane Paradise Valley, AZ 85253

$3,850,000 - 5Br/4Ba -  for Sale in Cypress Creek Estates, Paradise Valley
Open House
$3,850,000
5 Beds
4 Baths
4,702 SqFt
Status Active
MLS # 6761121
Property Type Single Family Residence
Price Type --
Welcome to your very own paradise! This luxury, move-in ready home offers 5 oversized bedrooms and 4 bathrooms with the 5th bedroom currently being used as an office. This Control4 smart home features a newly remodeled kosher kitchen with a large walk-in pantry. The spacious formal living area, cozy lounge/game room, and the grand dining room that can accommodate at least 20 guests makes for an entertainer's dream. The expansive backyard is home to citrus trees, a fresh herb garden, fire pit, spa, and a newly redone pool. Paradise Valley living at its finest!

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