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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2592 E Torrey Pines Lane Chandler, AZ 85249

$774,999
5 Beds
3 Baths
3,114 SqFt
Status Active
MLS # 6776589
Property Type Single Family Residence
Price Type --
So convenient and a remarkable find! Beautifully updated kitchen and baths give this spacious home decidedly contemporary character, while warm-hued, plank style flooring and all new windows keep it cozy. Tons of flexible living area ideal for entertaining: two large greatrooms- Living/Dining Rm, and Kitchen/Family Rm. A downstairs bedroom with adjacent full bath makes the perfect guest room or home office. You'll fall in love with the recently renovated master bath with walk-in shower and separate vanities. The kitchen is completely remodeled and lovely, with ample work surface and a sunny breakfast area. Enjoy your morning coffee poolside, or sip something sparkling in the hot tub tucked under a pergola for privacy. CENTRAL VAC. Garage is insulated/ cooled! Minutes to Intel, golf,schooL , retail and restaurants, city parks and services, and medical facilities. Close to three highways. I-10, 101 and the 202 which makes it easy access to Phoenix, ASU and all three airports.

10050 E Mountainview Lake Drive Unit 69 Scottsdale, AZ 85258

$774,999 - 2Br/2Ba -  for Sale in Mountainview Lake Estates Replat Lot 1-70 Tr A-g, Scottsdale
Open House
$774,999
2 Beds
2 Baths
1,452 SqFt
Status Active
MLS # 6760246
Property Type Townhouse
Price Type --
Nestled in the sought-after gated community of Mountainview Lake Estates in Scottsdale, this beautifully updated home offers easy, single-story living. Perfect for a lock-and-leave lifestyle, the home is move-in ready with numerous upgrades made between 2022 and 2024, including fresh interior and exterior paint, a new garage door opener, stylish exterior light fixtures, and resealed flat roofs. Inside, the kitchen boasts elegant quartz countertops, an R/O system, new dishwasher, and garbage disposal, while abundant closet space throughout ensures plenty of storage. The master suite is a true retreat, featuring master sconce reading lights and a cozy fireplace. The home is filled with natural light from tall windows with plantation shutters, with a seamless flow into the private backyard. Enjoy additional touches like an antique entry and dining room chandelier, two fireplaces, and an alarm system.This home is ideal for those seeking a second home, a winter retreat, or year-round low-maintenance living. With access to resort-like amenities, including nearby walking and biking paths, racquet facilities, and two community pools, one with direct access to Lake Serena.

1039 N Vista Verde Circle Litchfield Park, AZ 85340

$774,900
3 Beds
2.5 Baths
2,804 SqFt
Status Active
MLS # 6760766
Property Type Townhouse
Price Type --
Nestled amidst the scenic beauty of the Wigwam Patriot Golf Course, this exquisite home offers a lifestyle of luxury and serenity. Upon entering, you will be greeted by breathtaking views that span across the lush green fairways, tranquil lake, & majestic mountains. Enter a world of charm & elegance as you explore this meticulously crafted home. The spacious floor plan boasts 2.5 baths & 3 oversized bds ensuring ample space for relaxation and entertainment. Enjoy sweeping vistas from every corner of the home. 1st floor main suite features a large walk-in closet, a luxurious step-in shower, and a rejuvenating soaking tub. Upstairs bedrooms offer walk-out balconies, providing the perfect setting for watching stunning sunsets. Experience the ultimate in golf course living! The bright and cheery kitchen is a chef's delight, adorned with granite counters and custom cabinets. Prepare delicious meals while taking in the scenic beauty that surrounds you. Revel in the timeless elegance of hardwood floors, plantation shutters, and a cozy fireplace. Recent updates include neutral interior paint and the removal of all popcorn ceilings, ensuring a modern and inviting ambiance throughout. Whether you're an avid golfer or simply seeking a serene retreat, this home offers the perfect backdrop for living your dream!

22718 W Sierra Ridge Way Wittmann, AZ 85361

$774,900
4 Beds
3 Baths
3,017 SqFt
Status Active
MLS # 6676150
Property Type Single Family Residence
Price Type --
Custom-Built Entertainer's Dream on More than an Acre, ready to become Your Desert Oasis! Enter onto diagonal laid Porcelain Tile, expanding into Great Room where Beautiful Cherry Hardwood Floors adorn the home. Custom Cherry Cabinets in the Gourmet Kitchen and Hallway Nooks. Stacked-Stone Wet Bar and Fireplace to relax the night away. Floor plan is Split: Main Bedroom has a lavish walk-in closet, separate vanities, tiled walk-in shower. Melt those stressful days away in the Bathtub with Jets. Two Guest Bedrooms + one converted into Game Room that can store over 100 Wine Bottles! Tray Ceilings+Crown Moldings bring home a dynamic design. Kitchen w/Double Ovens, Granite Countertops, Eat-In Breakfast Bar. Come and See why YOU CAN TRULY FEEL AT HOME HERE. RV Gate, 3 Car Garage, Covered Patio. Exterior of Home was repainted 3 years ago. Com System/Surround Sound installed. Walk-in Pantry. Original owner - lovingly and meticulously maintained this Luxurious Home, spared no expense.

4356 E Rancho Tierra Drive Cave Creek, AZ 85331

$774,900
4 Beds
3 Baths
3,116 SqFt
Status Active
MLS # 6778490
Property Type Single Family Residence
Price Type --
Welcome to your oasis! This stunning 4-bedroom, 3-bath property combines timeless design with modern amenities. Enter through a grand entryway leading to expansive living spaces bathed in natural light. The gourmet kitchen boasts top-of-the-line appliances, elegant countertops, and a spacious island perfect for entertaining. The primary suite is a true retreat, with a spa-like bath and private balcony views. Outdoors, enjoy a lush, landscaped backyard with a sparkling pool, spa, shaded patio areas featuring a misting system, great views of natural desert right behind the home. Ideally located near entertainment, shopping, and scenic trails. VA-eligible buyers are permitted to assume this loan, which carries an exceptional 1.75% interest rate. The buyer must qualify for the loan to assume it, which will release the seller from all loan obligations.

6918 S Onyx Drive Chandler, AZ 85249

$774,900 - 5Br/3Ba -  for Sale in Sun Groves Parcel 13 Thru 16, Chandler
New
$774,900
5 Beds
2.5 Baths
3,803 SqFt
Status Active
MLS # 6783288
Property Type Single Family Residence
Price Type --
Welcome Home! Enjoy entertaining your family and friends in this spacious home, boasting wood look flooring, sky high ceilings and a backyard oasis featuring a pool, built in grill and plenty of patio space. The large kitchen features cabinets w/crown mouldings, mosaic backsplash, granite counters, stainless steel appliances, & a center island w/breakfast bar. Upstairs, a sizable loft awaits your touch to transform it into the entertainment room you want. Not to mention, the primary bathroom offers a spa like experience with a large walk in shower, floating cabinets and plenty of closet space. This home is a MUST SEE!! Have a good night's sleep in the serene main bedroom, & enjoy the bountiful natural light, large walk-in closets, & vibrant ensuite w/dual vanities, & a sit-down shower. The well-sized backyard provides a covered paver patio, a built-in BBQ, a refreshing swimming pool & an outdoor fireplace that will make your night gatherings a delight.

21052 E Carriage Way Queen Creek, AZ 85142

$774,900
4 Beds
3 Baths
3,073 SqFt
Status Active Under Contract
MLS # 6768775
Property Type Single Family Residence
Price Type --
Welcome to your new home! This stunning four-bedroom, three-bath residence with a three-car tandem garage, built in 2022, offers just over 3,000 square feet of carefully crafted living space. The kitchen impresses with abundant cabinet storage, a double oven, gas stove, and a large island perfect for entertaining. Additional features include a cozy den and a convenient coffee bar. The spacious backyard has plenty of room for a pool, making it ideal for outdoor gatherings. The primary suite boasts a massive walk-in closet, a soaking tub, and a separate shower. Situated right across from the park and pickleball courts, this home offers both comfort and convenience in a fantastic location!

1928 W Big Sky Lane Queen Creek, AZ 85144

$774,900
4 Beds
3 Baths
2,637 SqFt
Status Active
MLS # 6583601
Property Type Single Family Residence
Price Type --
New 4 bedroom (could be 3 + den), 3 bath, popular split floor plan, single level, 4-car garage, oversized covered patio, gourmet kitchen, granite, stainless, tile roof. Much more including block fence, RV gate, spray foam insulation, synthetic stucco. Buyer to select cabinets, flooring, paint, granite.... Drive by and walk through. Currently in frame stage. Estimated completion Dec 2024. Hurry before it's too late to make selections! NO HOA! Room for toys.

39012 N 8th Street Phoenix, AZ 85086

$774,900
4 Beds
3 Baths
2,851 SqFt
Status Active
MLS # 6680389
Property Type Single Family Residence
Price Type --
Discover this meticulously maintained home in Desert Hills, lovingly cared for by its original owner. Located in Apache Peak Ranch subdivision with only 28 homes, situated on a 1-acre with these rare amenities for the area: paved community roads, private water co, natural gas, and Cox Fiber Optics. The main home boasts 2140sf with 3 bedrooms, 2 bathrooms, vaulted ceilings, elegant wood shutters, and wood & tile flooring throughout. The guest house (casita) is 711sf and features a kitchenette, bathroom, and a closet/storage area with its own private front and rear doors leading to the back patio. Enjoy the lovely backyard, covered patio, built-in BBQ, newly installed putting green, charming gazebo plus plenty of Room for your RVs, & toys + more! You'll love the layout and feel of this home with unlimited options! Perfect for multigenerational families! Lovingly cared for and maintained by it's original owner with a newer roof, newer interior and exterior paint, newly remodeled second bath, newer HVAC units. Also featuring a spacious laundry room with utility sink and garage with an EV outlet for your electric cars, nice custom security screen doors, plenty of room to the north for your RV's, toys, parking. pool or to build a detached building. Casita with it's own front door entrance and rear door to back patio along with a nice storage area. 2nd bedroom with Murphy bed that conveys, primary Bedroom w/custom built-ins by California Closet and so much more!! Must see!!

2777 E Matterhorn Drive Flagstaff, AZ 86004

$774,900
3 Beds
2.5 Baths
2,203 SqFt
Status Active
MLS # 6686547
Property Type Single Family Residence
Price Type --
Incredible Swiss Manor home that is meticulously cared for. Quiet location in close proximity to Mount Elden and Forest Service lands. This 3 bedroom, 2.5 bath, 2-car heated garage comes with concrete RV parking, a beautifully manicured yard, and a backyard deck with a sunshade. Just a few minutes from spectacular hiking trails, non-motorized bike trails and schools. This is a must see home!!!

920 N Jamaica Way Gilbert, AZ 85234

$774,900
4 Beds
2 Baths
2,165 SqFt
Status Active
MLS # 6771291
Property Type Single Family Residence
Price Type --
You will love living in the Prestigious Val Vista Lakes Community!This Immaculate home offers Vaulted ceilings w/ lots of Natural lighting giving it a ''this is home'' feel.Entertainer's dream kitchen boasts Quartz countertops, kitchen island, backsplash, & stainless steel appliances. You will enjoy the AZ weather on your Extended Patio w/ Private Pool & Luscious Grass. Unwind in the Tile shower or pamper yourself in your Huge soaking tub.3-car garage is perfect for extra storage for all the toys.Val Vista Lakes offers heated community pool, lake, workout facility, fun family events & so much more!This home has the Perfect Central location to enjoy all the Entertaining events in the Valley! All of this Plus in the HIGHLY coveted Gilbert School District.This Home is an Absolute Must SEE!!!

22509 N 93rd Drive Peoria, AZ 85383

$774,900
3 Beds
2.5 Baths
2,318 SqFt
Status Active Under Contract
MLS # 6749347
Property Type Single Family Residence
Price Type --
Price Reduced! North Peoria's Finest Community and RV Parking! The house of your dreams with parking for all your toys and an HOA that let you do it! This almost new, beautifully upgraded home will fit your lifestyle! You will fall in love with the high end features and upgrades. Fantastic color palate with the right finishes in all the right places. The Light and Bright floorplan will keep you happy and cheerful. The Large covered patio keeps things cool and is great for entertaining. Large open kitchen with Granite, Stainless Steel and more. Spacious primary bed and bath for your in home getaways! Extra tall, deep and Air Conditioned garage will fit your stuff! Huge RV gate and lots of concrete to park your toys! Community Pool, Parks, Pickleball and more! Don't Wait, See it today

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