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.

What’s Your Home Worth?

Search for Your New Home

13323 W Rancho Drive Litchfield Park, AZ 85340

$785,000
4 Beds
5 Baths
4,636 SqFt
Status Active
MLS # 6745274
Property Type Single Family Residence
Price Type --
Dream Home with 2 huge master bedrooms one upstairs and the other one downstairs Every bedroom has its own bathroom and there is an additional guest restroom 18ft ceilings in some areas vaulted ceilings and private pool, Basketball Court, large covered patio

7802 E Northland Drive Scottsdale, AZ 85251

$785,000
3 Beds
2.5 Baths
2,292 SqFt
Status Active
MLS # 6755189
Property Type Townhouse
Price Type --
Nestled in the esteemed 55+ community of Villa Monterrey in Scottsdale, this meticulously upgraded home offers the perfect blend of modern sophistication and classic charm. The interior showcases rich hardwood floors, an owned solar system, and a state-of-the-art heating and cooling system, enhanced by ductless mini splits in key rooms for tailored comfort. The gourmet kitchen is a masterpiece, featuring custom cabinetry, discreet electrical outlets, a pot filler, and top-of-the-line KitchenAid appliances. The luxurious master bathroom provides a serene retreat, while the home theater, equipped with a 96'' retractable screen and immersive surround sound, promises unparalleled entertainment. Step outside to a beautifully designed outdoor living area, complete with a pergola, fireplace, and patio gas fireplace, two built in 4,000-watt heaters, an outdoor TV, and an illuminated fountain. The xeriscaped landscape, complemented by artificial turf and strategic lighting, including palm tree illumination, creates a stunning outdoor ambiance. Additional highlights include a separate laundry room with a new washer/dryer, a water softener, and a whole-house water filtration system. This property is a rare gem in one of Scottsdale's most sought-after communities.

1527 E Germann Road San Tan Valley, AZ 85140

$785,000
3 Beds
2 Baths
2,063 SqFt
Status Active
MLS # 6752706
Property Type Single Family Residence
Price Type --
Beautiful and cozy house with a lot of space to continue growing. Tile and granite in floors, bathrooms and kitchen. Looks gorgeous and ready to be occupied. 3 bedrooms with a huge walk-in closet in the master. Additional room could be another bedroom, game room or a formal dinning room for your family celebrations. Garage for 2 cars and separate carport (garage style) for additional 4 vehicles. Citrics growing around the house and a lot of space for more fruit trees and vegetables in the 1.25 acre lot. Easy access to the Gateway Freeway 24 (2 miles away) and Superstition Highway (60). Easy to show too. The owner is usually at home.

8408 E Sheridan Street Scottsdale, AZ 85257

$785,000
3 Beds
2 Baths
1,942 SqFt
Status Active
MLS # 6761005
Property Type Single Family Residence
Price Type --
A beautifully renovated move-in ready Scottsdale Estates home with brand new interior and exterior paint, bright open concept kitchen, oversized primary bedroom with newly renovated en-suite bathroom. The front and back landscaping was recently improved for low maintenance living yet endless entertaining with a diving pool, putting green, pergola patio seating plus fire-pit area. A 240EV Volt Outlet is installed in the carport with extra car parking in the driveway. This incredible South Scottsdale location nears Old Town, Scottsdale schools and many parks, and easy access to the 101 freeway.

7031 N Perryville Road Waddell, AZ 85355

$785,000 - 5Br/4Ba -  for Sale in Romolo Of Ariz 42 Lot 453, Waddell
New
$785,000
5 Beds
4 Baths
3,434 SqFt
Status Active
MLS # 6779389
Property Type Single Family Residence
Price Type --
Welcome to Waddell! Take a look at this charming 4-bedroom, 3-bath home situated on nearly 2 acres of irrigated horse property with stunning views of the White Tank Mountain. The unique interior features a modern kitchen with granite countertops, black appliances, and a large breakfast bar, ideal for entertaining. The primary suite offers a walk-in closet and en-suite bath. Saltio tile flooring, fireplaces & a floating stair case with wrought iron railing. Solar system for energy savings. Life outdoors, enjoy a sparkling swimming pool, a detached metal garage for ample storage or projects, and expansive space for horses or other animals including a few covered stalls & a tack shed. Embrace serene, versatile living in this ideal location!

17303 E Lone Mountain Road Rio Verde, AZ 85263

$785,000
3 Beds
3.5 Baths
2,345 SqFt
Status Active
MLS # 6774869
Property Type Single Family Residence
Price Type --
This stunning Santa Fe Spanish-designed home is a custom-built masterpiece by the owner, a skilled builder known for exceptional craftsmanship. Every detail of this home showcases quality, from solid wood doors to traditional kiva fireplaces and beautiful maple floors, embodying authentic Southwest style. Situated on a spacious 1.2-acre lot with no HOA, this home offers privacy and plenty of room for horses or recreational toys. Enjoy serene evenings on your patio, soaking in views of the Four Peaks Mountains. This home is truly a must-see for those seeking elegance, quality, and Southwestern charm.

4325 E Friess Drive Phoenix, AZ 85032

$785,000
3 Beds
2 Baths
1,989 SqFt
Status Active
MLS # 6778251
Property Type Single Family Residence
Price Type --
Welcome to this beautifully updated contemporary home nestled on a serene cul-de-sac. Every detail has been meticulously upgraded, including the A/C and roof. The open floor plan features a modern kitchen equipped with quartz countertops, a stunning waterfall island, a stainless steel farmhouse sink, and high-end stainless steel appliances. You'll find stylish wood-look tile flooring throughout most of the home. The primary bedroom is split from the other living spaces and boasts a recently remodeled, luxurious bathroom along with exceptional closet space. Step outside to discover a remodeled play pool and an inviting outdoor fireplace, perfect for entertaining. This wonderful location offers easy access to shopping, dining, and the freeway, as well as great PV Schools.

10320 W Fetlock Trail Peoria, AZ 85383

$785,000
4 Beds
3 Baths
2,483 SqFt
Status Active
MLS # 6781494
Property Type Single Family Residence
Price Type --
CUSTOM UPGRADES & FULLY OWNED SOLAR are features in this 4 Bedroom, 3 Bath, + Den home nestled in the foothills of Calderwood Butte in the coveted Northlands neighborhood. Modern & Upgraded Kitchen with white Quartz Countertops, Gas Cooktop, White Shaker Cabinets, SS Appliances. Open & modern floor plan with an open Den area, perfect for a home office, Den, or game room. Have extra cars? This home features FOUR CAR GARAGE parking, 2 separate two car garages, both are fully insulated, one has A/C for the perfect workshop, and a driveway that fits another 6 cars. Low maintenance Heated Pool with Cozy Covered Patio & Mountain Views are featured in the backyard. How about a credit instead of a bill when it comes to your electric? HUGE SAVINGS with this efficient FULLY OWNED SOLAR SYSTEM. Location is incredible - Tucked between Calderwood Butte and the Agua Fria River, there are Mountain Views in every direction. Great walking, biking, and hiking opportunities with the Calderwood Butte Trailhead, and the Maricopa Trail running right through the neighborhood. Beautiful parks within the community, and Paloma Park just a mile away. Close to the 303, and minutes from Lake Pleasant. Tons of Shopping, Restaurants, Entertainment within a couple of miles.

3543 N Pueblo Way Scottsdale, AZ 85251

$785,000 - 3Br/2Ba -  for Sale in Southwest Village Unit 3, Scottsdale
New
$785,000
3 Beds
2 Baths
1,477 SqFt
Status Active
MLS # 6782761
Property Type Single Family Residence
Price Type --
Investor's Special! Located at 3543 N Pueblo Way in Scottsdale, this 3-bedroom, 2-bath home offers a rare chance to renovate in a prime location near Old Town Scottsdale. This property includes a separate laundry room, a workshop, and an RV gate, perfect for boat or RV parking, all with the freedom of no HOA. Across the street, a fully renovated home recently closed for $1.3 million, underscoring the area's potential for strong returns. With a solid structure and endless possibilities, this property is ideal for investors looking to customize a home in one of Scottsdale's most sought-after neighborhoods. Don't miss this unique opportunity to create value in an unbeatable location!

2324 E Shea Boulevard Phoenix, AZ 85028

$785,000 - 3Br/2Ba -  for Sale in Desert Vista Unit 5 Amd, Phoenix
New
$785,000
3 Beds
2 Baths
2,147 SqFt
Status Active
MLS # 6784581
Property Type Single Family Residence
Price Type --
REMODELED GEM IN THE DESERT VISTA Subdivision AT SHEA CORRIDOR - NO HOA! Block Construction! Over 10,300 sf lot! Pride of ownership is evident throughout this meticulously updated, model-like home. Sellers have taken great care to enhance every detail from top to bottom, featuring high-quality finishes, all newer ANDERSEN® windows throughout, upgraded exterior French double doors and sliding glass door, newer interior doors in the bedroom wing, and sleek laminate flooring throughout. Expansive vaulted ceilings create an airy feel, and the home's formal living and dining rooms (no step-down) flow seamlessly into a cozy family room. The family room boasts a charming painted brick fireplace (fueled by propane tank) and side light windows that invite abundant natural light. Many windows have been thoughtfully replaced to capture breathtaking mountain views in the front, along with serene backyard vistas that enjoy an elevated position for added privacy. This 3-bedroom, 2-bathroom home is situated on a spacious lot, and the remodeled eat-in kitchen impresses with a peninsula island, quartz countertops, light solid wood cabinetry, and stainless-steel appliances, plus a pantry for extra storage. The primary suite offers a modern en-suite bath with dual sinks, a tiled glass back wall behind updated dual vanities, a large walk-in closet, and a luxurious, fully tiled shower with a contemporary half-enclosed glass door. French doors lead from the primary bedroom to a private patio with a pergola and an outdoor fireplace, creating the perfect spot for relaxation. Additional bedrooms are spacious, featuring new closet doors and mountain-view windows. The hall bath is equally stylish with a stone-surround shower/tub combo, stone floors, and an exterior door to the side yard. The park-like backyard is an oasis, offering beautiful mountain views, stone accents on raised planters, lush grass, mature shade trees, and elegant stone pavers surround the two covered patios. The sellers have poured their love into this home, and it's ready to welcome new owners who will cherish it for years to come. Discover the charm and potential of this home - truly a must-see to appreciate the features and possibilities it offers. Fantastic Location with quick and easy access direct from 26th St to 51 Freeway entrance which takes you minutes to Downtown Phoenix where you'll find dining, entertainment, sports arenas, museums, theaters, art galleries and more. Nearby hiking at Phoenix Mountain Preserve boasts dozens of miles of multi-use trails.

15021 N 7th Drive Phoenix, AZ 85023

$785,000
3 Beds
2 Baths
2,400 SqFt
Status Active
MLS # 6697763
Property Type Single Family Residence
Price Type --
Beautifully detailed remodel! Welcome to your dream oasis in the desireable Moon Valley area, where breathtaking mountain views frame this stunning property. This home is the epitome of luxury and convenience, being completely remodeled with no expense spared. Step inside to discover a feast for the eyes—new flooring, freshly painted interiors and exteriors, a brand-new roof, and a state-of-the-art air conditioning system ensure comfort and style year-round. The owner's meticulous attention to detail shines through every corner, from the carefully chosen fixtures to the impeccable finishes throughout. Outside, the landscaping and irrigation have been expertly redone, creating a lush environment that enhances the property's allure. The pool, resurfaced with premium pebble tech, beckons you to relax and unwind in style. A standout feature of this home is the fully enclosed bonus room at the back, complete with its own new air conditioner, offering versatile space for work, play, or relaxation. For those with multiple drivers or a penchant for convenience, the three-car garage with separate doors for each vehicle is a game-changer, ensuring ease of access and organization. Plus, the garage includes a convenient workspace with a shop sink, perfect for DIY projects or hobbies. Don't miss the opportunity to experience this exquisite remodel firsthand. Come and see it today and make this stunning property your own.

2506 E Bridgeport Parkway Gilbert, AZ 85295

$785,000
5 Beds
4 Baths
3,436 SqFt
Status Active
MLS # 6711000
Property Type Single Family Residence
Price Type --
Beautiful 5 bed, 4 bath home with a private heated pool, an extended patio and nice size yard. The spacious floor plan offers a large combo kitchen/family room, separate combo formal dining/living room, a loft sitting area, a designated homework area and a roomy mother-in law suite with walk in closet. The huge primary suite includes dual walk in closets, a soaking tub and walk in shower. Loads of storage throughout and beautiful neutral decor. Great multi-gen living set up. The lush green community is a quick commute to the 202 for great valley wide access. Near San Tan Village Market Place, Williams Gateway Airport, Mercy Gilbert Medical Center, loads of shopping, restaurants and entertainment, the new Gilbert Regional Park

Leave a Reply

Your email address will not be published.