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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1410 E Boston Street Gilbert, AZ 85295

$785,000
5 Beds
3.5 Baths
3,432 SqFt
Status Active
MLS # 6736704
Property Type Single Family Residence
Price Type --
Best nice and quiet Spectrum community with a lot of green belts. 5 bedrooms plus loft. New carpet, new paint both inside and outside wall. Kitchen island, Large private pool, extended covered patio. Walking distance to elementary school, around community, there are big shopping centers, Santan Valley big mall, a lot of restaurants, hospital. close to 202 free way.

16839 E Widgeon Court Fountain Hills, AZ 85268

$785,000
2 Beds
2 Baths
1,726 SqFt
Status Active
MLS # 6736053
Property Type Single Family Residence
Price Type --
Floor to ceiling update! 99% of home remodeled. 2 bedroom, 2 bath Patio Home walking distance to Fountain Park. 4 doors down from community pool. Upgraded kitchen with New Quartz countertops, white shaker cabinets and tile backsplash. New insulation, windows and doors throughout. AZ room on the back can be used for a 3rd bedroom or ? 2 car garage with extra storage . Vaulted ceilings and fire place in main living area. Custom upgrades everywhere. LOCATION,LOCATION, LOCATION! Better see this one before it is gone!

20971 S Hadrian Way Queen Creek, AZ 85142

$785,000
4 Beds
4 Baths
2,865 SqFt
Status Active
MLS # 6725129
Property Type Single Family Residence
Price Type --
Bring your toys- this community allows RV's/Trailers/Boats, etc- Highly sought after Roman Estates in the heart of Queen Creek. Single level layout features 3 bedrooms + den/ 3 full baths, plus an attached casita with separate entrance W/I closet and full bath- perfect for guests or home office. This home includes a formal living / dining room combo with open kitchen & great room with gas fireplace. 42'' upper cabinets, center island, SS Appliances and a breakfast nook. The primary suite features a large walkin closet, separate exit to the back yard- split vanities with makeup counter, shower and large soaking tub. Outside, enjoy the play pool with soothing waterfall, basketball goal, and 2 phase pool pump. New grass back yard with firepit area, large side yard and 72' x 23' paved RV pad with 50 amp plug. The home home features 10' ceiling throughout, central vacuum, surround sound, security system, intercom, sun screens, and soft water loop. Both AC's have been replaced and new exterior paint 6/24. Great location to downtown Queen Creek shops, theaters, and restaurants. Also walking distance to Mansel Carter park with fishing lake, water park, soccer, tennis, baseball, and pickleball. Great Queen Creek school district and easy access to freeways.

1671 Constable Street Prescott, AZ 86301

$785,000
3 Beds
2.5 Baths
2,445 SqFt
Status Active
MLS # 6726852
Property Type Single Family Residence
Price Type --
Gorgeous Prescott Lakes home on premium view lot. Minutes from downtown, shopping, golf trails. This bright and airy 2445 sf home with 3 bedrooms and 2.5 bathrooms is located next to common area. Custom upgrades, including: stone accented fireplace, decorator/media niches, porcelain tile, laminate flooring, Kohler fixtures, granite counters, maple cabinets, recessed lights. Contemporary Great Room plan is entertainer's dream w/ surround sound, a kitchen island, formal & informal dining, butler pantry and pantry. Split floor plan with a unique flex space between guest bedrooms. Covered patio w/ surround and w/gas stub for BBQ. Tesla Solar System & Tesla Charging Station in the spacious 3 car garage. Fitness Center, tennis,pools & more! Fitness Center Membership Dues are required $152.14 monthly, in addition to Qtrly HOA fees. The buyer is required to pay a one time fee pay .005% of the agreed upon sales price to the Club at Prescott Lakes.

15828 N 10th Place Phoenix, AZ 85022

$785,000
3 Beds
3 Baths
2,191 SqFt
Status Active
MLS # 6760380
Property Type Single Family Residence
Price Type --
You will LOVE this recently updated home nestled on a prime corner lot with views of Lookout Mountain! Move-in ready with a brand new roof & fresh paint. Enter and be greeted by tons of natural light flowing through the high efficiency triple pane windows under soaring high vaulted ceilings. The open family room is centered around a fireplace and flows right into the spotless kitchen with SS appliances, quartz counters, tile backsplash and shaker cabinetry. Main bedroom is downstairs, with backyard access and an ensuite with dual sinks, separate tub/shower, & a custom walk-in closet. Versatile loft & other bedrooms await upstairs. Enjoy the spacious backyard w/ a well manicured lawn, trees, outdoor play set and a paver-covered patio. All of this PLUS an owned solar system! Don't miss out!

22812 E Excelsior Avenue Queen Creek, AZ 85142

$785,000
3 Beds
2.5 Baths
2,771 SqFt
Status Active
MLS # 6770950
Property Type Single Family Residence
Price Type --
This stunning 3-bedroom, 2.5-bath home on a spacious corner lot is a perfect blend of luxury and functionality. Built with 2x6 exterior framing and radiant barrier sheeting on the roof, it's designed for comfort and energy efficiency. Inside, the chef's kitchen boasts quartz and leather marble countertops, a large walk-in pantry, and tile flooring throughout the main living areas, with plush carpet in the bedrooms. The primary suite includes a large walk-in closet, while a custom-built office offers a perfect work-from-home space. Outdoors, enjoy the backyard oasis featuring a 15x15 solid-top pergola, built-in BBQ island, lush grass with a drip irrigation system, and a playground that stays with the home. With modern touches like a Honeywell thermostat, Ring Doorbell/Alarm system, and built-in dining room cabinets, this home is move-in ready and waiting for you!

1102 E Brown Street Phoenix, AZ 85020

$785,000
3 Beds
2 Baths
2,041 SqFt
Status Active Under Contract
MLS # 6701092
Property Type Single Family Residence
Price Type --
Prepare to be blown away by this rare opportunity! Whether you are a house hacker, investor, or multi generational household THIS is the property for you. Centrally located in Phoenix, sitting on over 1/2 an acre surrounded by mountain views, you have 3 separate units boasting a total of over 2,561sf of livable space. All units are on their own electric meters complete with full kitchens, full bathrooms and laundry, a gorgeous new pool and spa, a temperature controlled 1 car garage workshop/she-shed, 4 car garage/large shop, multiple RV gates and ample covered and uncovered parking. First, you'll be impressed with the fully updated 1,184sf main house that is both modern and functional. It offers 2 bedrooms plus a bonus room in the master, and 2 full bathrooms. It features an open floor plan with a gorgeous recently remodeled kitchen boasting rustic alder cabinets, granite countertops, a decorative backsplash, floating shelves, large island, and stainless steel appliances. The master suite contains a bonus room that can be used as a large walk-in closet, nursery and/or office. The master bath is newly renovated with a private walk in tiled shower, double sinks, and granite counters. The home also has new neutral paint, new LVP flooring throughout, new fixtures, new metal roof, newer HVAC/ductwork, new PEX plumbing, tankless water heater, 13 blown in insulation and new electrical. The backyard is your own private oasis with a new large sparkling pool featuring beautiful stacked stone water features, a large retractable pool shade, and easy cleaning with pentair pump and filtration. Indulge in the luxury of a 5-person Catalina spa and entertain guests in the sizable gazebo equipped with a built-in BBQ and professional-grade mister system. Both front and backyards are hassle-free with artificial turf and auto timers, complemented by the benefit of low electric bills courtesy of owned solar panels. Solar is only $89 monthly. The spacious 857-square-foot 1 bedroom + den guest house, thoughtfully updated, features oak cabinets, stainless steel appliances, granite countertops throughout-including the bathroom, and LVP flooring. Complete with a full kitchen, bathroom, and laundry hook-ups, plus a new electric water heater, this space brims with versatility. Here, 36 doors and shower bars offer additional accessibility. Ideal as a mother-in-law suite or a charming primary residence with the option to rent out the main house for a larger income opportunity. Enjoy a semi-private outdoor area perfect for outdoor lounging and dining. The 522-square-foot man-cave/studio exudes industrial charm, featuring a full kitchen with oak cabinets and granite counters, sleek epoxy floors, a comfortable living area, and a full bathroom with a tiled shower and laundry hook-up. This versatile space is ideal as a mother-in-law suite or a dynamic game/entertainment area with the garage door fully opening to seamlessly blend indoor and outdoor spaces. Enjoy the convenience of a brand new mini split heating and cooling system and new electric water heater. The she-shed encompasses 216sf of partially finished garage space, equipped with a window AC unit, a service door, and complete with water, sewer, and electric. Adjacent is an additional 4-car garage, independently metered from the other units for electric, presenting limitless possibilities. Remove the central wall to transform it into another 667 sf studio space, or maintain its current configuration for storage/garage units, potentially generating extra income. Alternatively, utilize the space for storing vehicles and equipment, or as a workshop. Featuring upgraded electrical systems, a new metal roof with spray foam insulation, and the readiness for additional water and sewer connections to the garage, this space is primed for diverse uses. Investors have ample opportunity to innovate on this property, as the sellers have initiated the re-zoning process for potential multi-family use. Should the buyer opt to pursue this avenue, the property holds promise for assisted living, sober living, rehabilitation, and other group home ventures. With existing water, sewer, and electric connections in place, converting garage bays and the she-shed into additional rooms or apartments is a seamless endeavor. The desirable central location of this property is conveniently located just minutes from the 51, 17 and 101 highways allowing you to be nearly anywhere quickly. Within 15 minutes you've got shopping and dining at Biltmore Fashion Park and Uptown Plaza, hiking at North Mountain, and Sky Harbor Airport when you're heading out for travel.

10954 E Tripoli Avenue Mesa, AZ 85212

$785,000
5 Beds
3.5 Baths
3,712 SqFt
Status Active Under Contract
MLS # 6750341
Property Type Single Family Residence
Price Type --
Big and Beautiful! If you are in need of space in all the right places this is the home for you. When entering the home double doors open up into large office. Primary bedroom is on the main level with a 5 piece bath and massive walk-in closet. Secondary bedrooms are on the second floor with two sharing a jack and Jill bathroom. The additional bedrooms are split from the others with a full bath. Huge Loft separates the bedrooms. The back yard is a kids dream with a sparkling pool. 3 car tandem garage with an additional huge storage area.

12075 N San Clemente Street Surprise, AZ 85388

$785,000 - 3Br/3Ba -  for Sale in Sterling Grove. Toll At Prasada Phase 1 Unit A, Surprise
Open House
$785,000
3 Beds
2.5 Baths
2,064 SqFt
Status Active
MLS # 6766146
Property Type Single Family Residence
Price Type --
Imagine owning this exquisite home in the prestigious Sterling Grove, a gated golf community where luxury living meets resort-style amenities. From the moment you step inside, you'll be captivated by the elegance and attention to detail throughout. The heart of the home is the open-concept kitchen, living, and dining area, featuring stunning Quartzite countertops, a chic subway tile backsplash, sophisticated light fixtures, and custom window treatments. The beamed ceiling entry adds a welcoming touch of grandeur. Retreat to the spacious owner's suite, complete with an oversized walk-in shower and an expansive 147(+-) sqft walk-in closet with a unique walk-through access to the laundry room—an exclusive feature that sets this home apart. The resort-style backyard is an entertainer's paradise, highlighted by a sparkling saltwater pool with serene water features. The professionally landscaped front and back yards boast citrus trees, low-maintenance synthetic grass, an outdoor TV, and an extended tiled patio, making it the perfect space for relaxation and hosting gatherings. Additional touches of luxury include stylish tile flooring in the bathrooms, a surround sound system for the ultimate audio experience, a top-of-the-line security system, and a whole-house water treatment system. Seize the opportunity to own this exceptional home in one of the West Valley's most sought-after communitiesno waiting for new construction, just move in and start enjoying the lifestyle you've always dreamed of!

10659 E Kinetic Drive Mesa, AZ 85212

$785,000 - 3Br/3Ba -  for Sale in Eastmark, Mesa
Open House
$785,000
3 Beds
2.5 Baths
2,475 SqFt
Status Active
MLS # 6772643
Property Type Single Family Residence
Price Type --
Come see this highly upgraded home in the beautiful Eastmark community. The home is equipped with shiplap, wainscoting, crown molding, surround sound, mud area, built-in desk, patio misters, R/O, soft water, cabinet & sink in laundry room. Off the living room is giant glass doors to get you to the backyard paradise. Find a heated, self-cleaning pool with a soothing Jacuzzi, water feature, Baja shelf, and even a built-in gas firepit! Not only is the house amazing but you'll live in an award-winning community of Eastmark.

4609 E Adobe Drive Phoenix, AZ 85050

$785,000 - 4Br/2Ba -  for Sale in Desert Ridge Parcel 7.4, Phoenix
Open House
$785,000
4 Beds
2 Baths
1,962 SqFt
Status Active
MLS # 6776447
Property Type Single Family Residence
Price Type --
Welcome to Desert Ridge! We are proud to present a gorgeous property located within a walking distance to award winning shopping, dinning and highly rated schools. The house comes completely remodeled with brand new roof with 20 years transferable warranty, updated pool and back yard and beautiful kitchen and bathrooms. Situated on a quiet street next to green belt this home is a must see!

7600 E Golden Eagle Circle Gold Canyon, AZ 85118

$785,000 - 3Br/3Ba -  for Sale in Golden Eagle Village At Superstition Foothills, Gold Canyon
Open House
$785,000
3 Beds
3 Baths
2,997 SqFt
Status Active
MLS # 6734320
Property Type Single Family Residence
Price Type --
Lowest price in community! Located in Superstition Golf & Country Club, Tuscany-inspired Golden Eagle Village, this newly painted villa is highly upgraded w/ spacious, light & open floor-plan .Beautiful gated entry with new non slip tile. Alder cabinets, granite countertops, 5-burner gas cooktop, kitchen island, breakfast bar, large walk-in pantry, 8' solid core doors, vaulted ceiling, wood & tile floors throughout & central vac. 3 bedrooms, 3 bathrooms, 2 fireplaces, 3 spacious courtyard patios, built-in BBQ & built-in garage cabinets. Upstairs patio recently replaced decking 2024 w/5 yr warranty. Spectacular views of Prospector Golf Course,& Superstition Mountain, Park & water feature right out your front door. Superstition Mountain is a 24-hour guard gated community w/ private street Located just blocks away from the 36 hole private Nicklaus designed champion golf course and club house are stunning. This home will not disappoint.

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