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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5101 N Casa Blanca Drive Unit 9 Paradise Valley, AZ 85253

$769,000
1 Bed
1.5 Baths
804 SqFt
Status Active
MLS # 6767696
Property Type Townhouse
Price Type --
UNIQUE and very RARE charming historic villa in the guard-gated community of ''Casa Blanca.'' Located in the PRIME area of Paradise Valley, this one is on the coveted ''Rose Garden,'' the location simply doesn't get any better! This is a ''one-of-a-kind'' estate and does't come on the market often, because there is nothing else like it. Other features include a large enclosed back patio with a beautiful brand new cactarium and a quaint front patio to enjoy the serenity and views. The kitchen has new stainless steel appliances and ample storage. Downstairs is a cozy living room with a beehive fireplace. Follow the winding staircase up to the master bedroom, spa-like bathroom and balcony. Community features 3 community pools, tennis & pickleball courts. Click 'more' More great amenities and features of this property: *Beamed ceilings *French doors *Terra cota tile flooring *Wood flooring upstairs *Master bathroom has gorgeous marble tile *Orange and Grapefruit trees hang over back patio *24 hour guard gated property *Sprawling 22 acre community with beautiful plants and flowers *All 3 swimming pools are heated *Walking distance to Scottsdale Fashion Square and great restaurants like Olive and Ivy! *Walking distance to the World Famous Phoenician Resort. *8 minutes to the 101 freeway *Close to Scottsdale and amazing shopping and restaurants The seller has included the following as a personal note describing what he liked best about living and owning in Casa Blanca Estates: Located in Paradise Valley which is the Beverly Hills of Phoenix. There is simply nothing like it. Anywhere. Originally built for the Kellogg family as a retreat for their executives to escape the brutal midwestern winter. The Casa Blanca Inn welcomed winter visitors for decades. An oasis in the desert in the shadow of Camelback Mountain. Close enough to everything but just far enough to feel like you are a world apart. 3 community pools. Tennis and pickle ball courts. Rose gardens and fountain. Cactus gardens. Palm trees sway. Manicured desert landscaping. Historic architecture. Indoor / Outdoor living. Plenty of guest parking. Peace and solitude. Nature abounds. 24-hour manned security gate. This is a rare opportunity to find yourself in an historic community that you will truly be proud to be a part of. There is only one Casa Blanca. Here is a brief history of Casa Blanca: An Arizona Treasure! Casa Blanca was first conceived in 1936 as a ranch hacienda by David Kellogg of Buffalo, New York, heir to the Spencer Kellogg and Sons manufacturing fortune. Built by architect R.T. Bob Evans at the base of Camelback Mountain, the adobe brick home featured Mexican tiles and carved woodwork. In 1944, Kellogg sold the home to George Borg, of Borg-Warner Co., who renamed the residence Casa Blanca and added the now-iconic onion dome above the living room, conferring instant landmark status within the burgeoning residential communities of Paradise Valley and Scottsdale. Borg built a number of cottages around the grounds to accommodate his many guests, along with an airstrip, riding stable, pool and extensive gardens. In 1953, Borg hired a hotel management company and converted the property into a resort. In 1958, the management company, in partnership with contractors, purchased the resort from Borg and divided the property into a residential community and expanded resort, which was frequented by many famous guests, including Marilyn Monroe, Clark Gable, Charlie Chaplin, Betty Grable and President Dwight Eisenhower. The domed room became an elegant restaurant known as The Sultan's Table. In 1967, the property was sold to hotelier Bernard McDonough. Ramada Inns purchased Casa Blanca in 1971 and conducted extensive remodeling, but in 1981, it was sold to Great Western Development, which converted the resort into a residential community, creating 37 residences with 32 different floor plans. The original domed abode was restored and converted into a private residence. The dome now serves as a focal point for the entire community. The central rose garden remains, linking the various residences with walking paths. In 1984, 38 more townhomes, a lap pool and a cactus garden were added.

4151 E Mercer Lane Phoenix, AZ 85028

$769,000
3 Beds
3 Baths
2,342 SqFt
Status Active
MLS # 6771337
Property Type Single Family Residence
Price Type --
Prepare to be dazzled by this stunning two-story home nestled on a quiet cul-de-sac in North Shea Estates! This property boasts an array of standout features, starting with a beautifully upgraded interior that showcases brand NEW energy-efficient windows in the front - 10K value, REAL hardwood flooring throughout, soaring vaulted ceilings, and a downstairs bedroom and full sized bathroom. Enjoy the fresh neutral paint, elegant shutters, and integrated surround sound for a perfect ambiance in any setting. The bright living room includes a gorgeous stacked stone fireplace, while the formal dining room is ideal for hosting special occasions. The expansive kitchen is a culinary enthusiast's dream, featuring recessed lighting, custom honey oak cabinetry with crown molding, granite countertops, stainless steel appliances, and a travertine tile backsplash. The kitchen's thoughtful design includes a breakfast bar and a cozy breakfast nook, perfect for casual dining. The HUGE primary retreat is a sanctuary of comfort, offering ample natural light, two spacious walk-in closets with custom built-ins, and an en-suite bath complete with dual sinks, a designated make-up vanity, and a separate soaking tub. Secondary bedrooms are generously sized, with upgraded bathrooms. Step outside to the tranquil backyard, which includes a covered patio area perfect for relaxation or entertaining. The yard is beautifully landscaped with lush, real grass and a mix of mature plants for added privacy. The highlight of the backyard is the enticing sparkling pool and spa combo, perfect for enjoying Arizona's sunny weather. Additional features include built-in storage solutions in the garage, a laundry room with extra cabinetry, and many more upgrades that make this home truly move-in ready.

16601 S 34th Way Phoenix, AZ 85048

$769,000
3 Beds
3 Baths
2,317 SqFt
Status Active Under Contract
MLS # 6715177
Property Type Single Family Residence
Price Type --
Exceptional waterfront residence in Ahwatukee's highly coveted Lakewood Community! Tastefully updated & upgraded! 3 full bedrooms + downstairs den/office and bath! Kitchen offers granite counters & stainless steel appliances & views of the lake! Master suite also offers spectacular views of the lake & private balcony! The master also has a sitting area for relaxing or home gym space! Remodeled, spacious master bath has barn door entrance, new dual sink vanity & separate shower & jetted tub! New windows in 2022! Lakewood offers ramadas w/ picnic tables & BBQ grill, 2 tot lots, swing set, 2 Lakes w/ 4 boat docks, catch & release fishing, walking paths & bike lanes! South Mountain Park nearby for year round hiking, & mountain biking. Award winning Kyrene Schools & Desert Vista High!

20100 N 87th Drive Peoria, AZ 85382

$769,000 - 3Br/2Ba -  for Sale in Eagle Ridge At Westbrook Village, Peoria
Open House
New
$769,000
3 Beds
2 Baths
2,370 SqFt
Status Active
MLS # 6783520
Property Type Single Family Residence
Price Type --
Welcome to this stunning Monterey 3-bedroom +den home overlooking double fairways of the Vistas Golf Course! Featuring a 3-car extended-length garage and a pre-paid solar lease for energy savings, this home boasts 2 exquisitely updated bathrooms with tile showers and granite countertops. Enjoy cooking in the elegantly upgraded kitchen with a 5-burner gas stove, Bosch dishwasher, and Broan hood/fan. Vaulted ceilings and Hunter Douglas shades enhance the airy, elegant feel throughout. Gas fireplace adds a warm, luxurious touch. Solar prepaid through 2032 which amounts to LOW electric bills! Roof underlayment has been done also. Located on a picturesque golf course location, this home blends luxury, comfort, and breathtaking views for the perfect lifestyle. Welcome home to Westbrook Village!

9420 W Sands Drive Peoria, AZ 85383

$769,000 - 4Br/3Ba -  for Sale in Meadows Parcel 4a, Peoria
Open House
$769,000
4 Beds
2.5 Baths
3,127 SqFt
Status Active
MLS # 6781454
Property Type Single Family Residence
Price Type --
This BEAUTIFUL ONE OWNER open-concept home in the HIGHLY DESIRABLE MEADOWS NEIGHBORHOOD has been LOVED, CARED FOR and LIGHTLY LIVED IN*You have COMMUNITY POOL, PICKELBALL, and you are ACROSS from the SPRAWLING PARK*RVs are allowed in this FABULOUS COMMUNITY*RV GATE*Minutes to TOP RATED SCHOOLS, FREEWAY, SHOPPING, and RESTAURANTS*KITCHEN has large ISLAND, QUARTZ COUNTERS, neutral cabinets, WALK IN PANTRY, pocket desk, and dedicated eat-in nook*FLEX DINING/SITTING room*DEN*SINK at LAUNDRY*Nice size split OWNER SUITE has SEPARATE outside EXIT, separate shower and tub, split vanities, and great walk in closet*TANDEM 3-CAR GARAGE*Your OVERSIZED BACKYARD has pavers and grass, ENTERTAINMENT AREA and COVERED PATIO*COME BY and see why YOU WILL WANT TO CALL THIS LOVELY PLACE YOUR ''HOME''

2025 W Tallgrass Trail Phoenix, AZ 85085

$769,000 - 6Br/4Ba -  for Sale in Fireside At Norterra, Phoenix
Open House
New
$769,000
6 Beds
4 Baths
3,157 SqFt
Status Active
MLS # 6782899
Property Type Single Family Residence
Price Type --
Spacious home in the highly sought-after master-planned community of Fireside at Norterra! This home greets you with a bright, open living area with soaring ceilings, clerestory windows, fresh modern paint, new carpet, and wood-look flooring. The inviting family room features a cozy fireplace and flows into a gourmet kitchen, boasting granite countertops, sleek white cabinetry, tile backsplash, stainless steel appliances, pantry, and an island with breakfast bar. The primary suite offers dual sinks, a walk-in closet, and a serene ensuite. Step outside to a beautifully landscaped backyard with a covered patio, travertine pavers, built-in BBQ, and stunning mountain views. Enjoy Fireside's community amenities: a state-of-the-art gym, media center, pools, tennis courts and more!

20886 E Via De Arboles -- Queen Creek, AZ 85142

$768,000
5 Beds
3 Baths
4,054 SqFt
Status Active
MLS # 6736902
Property Type Single Family Residence
Price Type --
Stunning home in this beautiful neighborhood of Hastings Farms in Queen Creek. Check out the curb appeal and 3 split car garage! Walk in & take a look at the formal living room & dining room. Spacious and natural light give this area that homey feel. Step into the grand family room, large sliding door, room for all your friends & family gatherings. Kitchen features, huge island, pendant lighting, granite countertops, plenty of cabinet space, tiled backsplash, gas stove, wall oven, & stainless-steel appliances. It has a large panty. Across is your coffee spot, plenty of room for your gourmet coffee maker and more. Downstairs you will find a bedroom and a full bathroom. Go upstairs and enjoy the large loft. Make is game room, pool table, craft room... etc whatever you would like. There are 3 spacious bedrooms, hallway bath is roomy as well. Down the hallway you will find the grand space of the master bedroom. This is a suite that you will not want to miss taking a walk-through. Large room, windows make it have natural light. Master bath is huge, has a separate tub & shower, double sinks, and whoa, take a look at the master closet!! Go outside and spend time in the covered patio area. Grilling area is plumbed for gas if you like cooking with gas. The rest of the yard is green and has pavers in all the right places for little maintenance. It has a potting area to plant veggies or your favorite flowers. This house is a must see today!

14236 E Cavedale Drive Scottsdale, AZ 85262

$767,000 - 2Br/3Ba -  for Sale in None, Scottsdale
New
$767,000
2 Beds
3 Baths
2,716 SqFt
Status Active
MLS # 6783333
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This stunning new construction, just purchased this year, features an open floor plan filled with natural light and breathtaking mountain views. High ceilings, a spacious great room, and a chef's kitchen make it perfect for entertaining. Two luxurious ensuite bedrooms offer a private retreat, while the expansive bonus room is ideal for a home office, theater, or fitness studio. Set on a serene acre with no HOA restrictions, the property offers endless possibilities to create your own outdoor oasis. Enjoy the freedom to design your ideal space while taking in the beauty of Arizona's desert landscapes. With a three-car garage and room for all your toys, this home is more than a place to liveâ''it's a lifestyle of freedom and endless potential.

6618 W Red Fox Road Phoenix, AZ 85083

$767,000
5 Beds
3.5 Baths
3,611 SqFt
Status Active
MLS # 6752780
Property Type Single Family Residence
Price Type --
Don't miss your opportunity to own in the highly sought after Preserve at Boulder Mountain. This large 5 bed 3 bath home is located in a quiet neighborhood with picturesque views along with lovely curb appeal. The spacious living areas are excellent for entertaining guests, and the separate living quarters are well appointed, meaning guest never have to leave! Perfect for multi-generational living or the growing teenagers that want their own space. Your stunning kitchen features a gas cooktop, dual wall ovens, granite counters, tile backsplash, 42 inch custom wood cabinetry, & a large island with breakfast bar supplying an open layout that connects to the great room, perfect for gathering. For those who love to entertain, the butler's pantry & walk-in pantry provide ample storage and and counter top space that connects to the formal dining room and lively great room. Throughout the home you'll find quality finishes such as wood-like vinyl plank flooring, plush carpet in the bedrooms, recessed energy efficient LED lighting with one touch dimmer switches, and dual pane windows adorned by plantation shutters, allowing you to control the natural light streaming in and mountain views. The home boasts plenty of natural light, adding to its warm and welcoming atmosphere. With the new roof being installed in 2023 and a whole home water filtration system recently installed, this property has been meticulously cared for and is move-in ready, just waiting for you to make it your own. The primary bedroom is located on the main floor and features a luxurious upgraded bathroom with separate tub and shower, a dual vanity, private toilet room, and a large walk-in closet! Head to the backyard which provides a firepit & covered patio making it the perfect private area to relax and enjoy the outdoors while taking in the Arizona sunsets. The nextgen's private balcony with mountain views provides a serene escape. Don't miss the spacious three car extended garage with overhead storage, ensuring for a well kept garage. This mountain community is nestled into the desert landscape, but close to everything you need. Provides quick access to hiking trails at East wing, the Preserve, shopping, dining, and entertainment. Close to Paloma Community Park, the 303, and Lake Pleasant.

22460 E Orchard Lane Queen Creek, AZ 85142

$766,990
4 Beds
2.5 Baths
3,392 SqFt
Status Active
MLS # 6773434
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender. The Majesty series, nestled in the desirable Harvest community, offers a private gated section just across from the pools, catch-and-release lake, and green park. Enjoy tranquility while staying close to shopping and entertainment. This home boasts a perfect layout for entertaining or relaxing, with charming brick accents, pavers on the driveway, walkway, and courtyard entry. Welcome home—don't miss out.

1928 Sand Spring Trail Flagstaff, AZ 86005

$765,000
3 Beds
2.5 Baths
2,042 SqFt
Status Active Under Contract
MLS # 6773106
Property Type Single Family Residence
Price Type --
** NEW CONSTRUCTION. Nestled within the world's largest stand of Ponderosa Pines, The Highlands at Tovar Springs offers the perfect harmony of natural beauty and modern living. Situated in Flagstaff's stunning landscapes, this new community provides the tranquility of mountain living with the convenience of a vibrant, thriving town. The Sycamore floorplan, a single-story home featuring 3 bedrooms and 2.5 baths, is thoughtfully designed for comfort and flexibility. Located on Homesite #37, this is a unique opportunity to secure a home at introductory pricing. Scheduled for delivery in Winter 2025, this home is crafted for year-round enjoyment, ideal as a seasonal getaway or a primary residence. The Highlands at Tovar Springs boasts easy access to miles of scenic trails and a nearby wildlife-rich natural wetland. Adventure is just outside your door, with hiking, biking, and wildlife viewing set against the stunning backdrop of the San Francisco Peaks. Only minutes from downtown Flagstaff, renowned for its culinary scene with two James Beard finalists, you'll also enjoy a rich cultural experience. Seamlessly connect to the Flagstaff Urban Trail Systema 75-mile network that winds through forests, canyons, and open spaces, linking parks, schools, and neighborhoods. Flagstaff is not only a gateway to outdoor adventure but a high-altitude training hub, attracting elite athletes and Olympians from across the globe.

1941 Sand Spring Trail Flagstaff, AZ 86005

$765,000
3 Beds
2.5 Baths
2,042 SqFt
Status Active Under Contract
MLS # 6778182
Property Type Single Family Residence
Price Type --
** NEW CONSTRUCTION. Nestled within the world's largest stand of Ponderosa Pines, The Highlands at Tovar Springs offers the perfect harmony of natural beauty and modern living. Situated in Flagstaff's stunning landscapes, this new community provides the tranquility of mountain living with the convenience of a vibrant, thriving town. The Sycamore floorplan, a single-story home featuring 3 bedrooms and 2.5 baths, is thoughtfully designed for comfort and flexibility. Located on Homesite #43, this is a unique opportunity to secure a home at introductory pricing. Scheduled for delivery in Winter 2025, this home is crafted for year-round enjoyment, ideal as a seasonal getaway or a primary residence.

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