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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18405 W Denton Avenue Litchfield Park, AZ 85340

$740,000
4 Beds
3 Baths
2,927 SqFt
Status Active
MLS # 6743916
Property Type Single Family Residence
Price Type --
Your dream home is waiting for you! Discover this exquisite 4-bedroom, 3-bath residence equipped with a 3-car garage, an RV gate, and a welcoming courtyard., a soothing palette, blinds for privacy, and a blend of plush carpeting and tile flooring. The great room offers a cozy setting for intimate gatherings with loved ones. The delightful kitchen features granite counters, Cherry wood type cabinetry with crown 4'' molding and pull out drawers, recessed lighting, stainless steel appliances, a pantry, and an island with a breakfast bar for casual dining. You'll also find a den, perfect for an office or lounge. The serene main bedroom boasts direct backyard access, an ensuite with dual sinks, and a convenient walk-in closet.Play Pool with Travertine Tile, Synthetic grass, And Gazebo . Venture outside to an enchanting backyard, complete with a covered patio, travertine pavers, a charming gazebo, pristine artificial turf, and a refreshing pool. Make this gem yours now!

10472 W Alex Avenue Peoria, AZ 85382

$740,000
5 Beds
3 Baths
3,074 SqFt
Status Active
MLS # 6758159
Property Type Single Family Residence
Price Type --
This wonderful 5 bed, 3 bath residence now on the market is for you! Great curb appeal, a manicured landscape w/natural turf, a 3 car garage w/built-in cabinets, and an RV gate are just the beginning. Discover a spacious dining & living areas w/elegant wood-look flooring, plantation shutters, and warm palette throughout. The family room showcases a fireplace to keep you warm during the coming winter months! The kitchen is comprised of wood cabinetry w/crown moulding, SS appliances, a pantry, and a peninsula w/a breakfast bar. Upstairs you'll find a cozy loft w/soft carpet, where you can spend a relaxing evening. The primary bedroom boasts a walk-in closet and a full ensuite w/dual sinks for added convenience. Lastly, the expansive backyard includes a covered patio, extended seating area, a built-in BBQ, and a refreshing pool! Don't let this incredible opportunity slip by!

22632 N 73rd Avenue Glendale, AZ 85310

$740,000
4 Beds
2 Baths
2,242 SqFt
Status Active
MLS # 6772281
Property Type Single Family Residence
Price Type --
This gorgeous 4 bed, 2 bath residence in Hillcrest Ranch is looking for its new owners! Great curb appeal, a low-care landscape, 3 car garage, and an RV gate are just the beginning. Discover a sizeable dining & living area w/vaulted ceilings, elegant wood-look flooring, and neutral palette throughout. Right next to the spacious family room is the fabulous kitchen, comprised of white cabinetry w/crown moulding, quartz counters, a pantry, subway tile backsplash, pendant lighting, SS appliances, and a prep island. Relax & unwind in the primary bedroom, showcasing soft carpet, a walk-in closet, and a lavish ensuite w/dual sinks. Also including an expansive backyard w/a covered patio, lush natural turf, and a sparkling blue pool, this home is a dream come true!

17014 S 34th Street Phoenix, AZ 85048

$740,000
4 Beds
2.5 Baths
3,269 SqFt
Status Active
MLS # 6780679
Property Type Single Family Residence
Price Type --
Lovely & large home situation in the exclusive Lakewood area of Ahwatukee. Nestled near the base of the South Mountain close to the 202 South loop and exceptional dining and shopping. This home boasts vaulted Ceilings, open floor plan, and two wood burning fire places. The oversized Primary Suite features a wood burning fireplace, wet bar, large bath, walk-in shower & closet. The owners have updated the bathrooms with neutral tile. Roof was replaced in 2015. Owners do not use the pool and are open to refinishing credit. Stop and see this beauty today!

4053 S Skyline Court Gilbert, AZ 85297

$740,000
5 Beds
3.5 Baths
3,115 SqFt
Status Active
MLS # 6780871
Property Type Single Family Residence
Price Type --
Beautiful home in Power Ranch. 5 Bedrooms with a loft area. Two of the bedroom's /office space downstairs. Perfect for a guest suite. Step into soaring ceilings with a separate dining and living room, followed by a cozy family room that opens up at a large eat in kitchen. The kitchen complete with stainless steel appliance, an island, granite countertops, and a pantry-perfect for any home chef! The master bedroom retreat awaits you with a double-door entry, a bathroom featuring a separate tub and shower, and dual vanities. Outside your very own backyard oasis with a large, covered patio, a sparkling pool, and plenty of space to play. The garage comes equipped with storage cabinets, White plantation shutters and laundry cabinets add the extra touches, of convenience and style.

6564 W Lone Cactus Drive Glendale, AZ 85308

$740,000
4 Beds
2.5 Baths
3,020 SqFt
Status Active Under Contract
MLS # 6767671
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the highly sought-after Arrowhead Ranch community. This impeccable four-bedroom, 2.5-bath home offers the perfect blend of elegance, comfort, and modern updates. New Exterior/Interior paint. Situated on a private cul-de-sac, the home features an oversized, sparkling pool in a beautifully landscaped backyard, providing a true oasis for relaxation and entertainment. The spacious interior showcases a recently updated kitchen with granite countertops, stainless steel appliances, perfect for the home chef. The open-concept living area includes a cozy wood-burning fireplace, while the remodeled bathrooms add a touch of modern sophistication. Additional upgrades include a brand-new Trane AC system, a new roof, and an RO filtration system and water softener system for peace of mind. Outdoors, you'll find a built-in barbecue for hosting gatherings, Built-in chimnea, sunshade sails and a three-car garage offers plenty of storage. Citrus and blood orange trees, sprinkler/drip system, Located in the heart of Arrowhead Ranch, with easy access to parks, golf courses, shopping, and dining, this home is a rare gem in a serene and desirable neighborhood. Don't miss the opportunity to make this exceptional property yours!

8725 W Sequoia Drive Peoria, AZ 85382

$740,000
3 Beds
2.5 Baths
2,451 SqFt
Status Active Under Contract
MLS # 6775125
Property Type Single Family Residence
Price Type --
STYLE AND SOPHISTICATION CAN BE YOURS! Enter the gated community within Westbrook adult community, to an entertainer's dream! Spacious floorplan with tons of light. Roof underlayment 2023- Newer custom glass doors and windows 2023, AC 2016, High quality stone floors, Custom 42''in'' staggered cabs w 2''in'' crown molding in kitchen. Gas 5 burner stove, Profile ovens. Gorgeous granite counters. Wet bar. Interior decoctive brick is STUNNING! Split floorplan, large master has wonderful closet organizer. Unique laundry/craft room has sleek built-ins. Full length backyard patio over looks large pool - new cool decking, & pop-up cleaning system. Fruit trees too! Complete with 3 car garage & low HOA. Golf, pickle ball, gym, activities galore,2 rec centers, both with new heated pools. MUST SEE!

23392 S 209th Place Queen Creek, AZ 85142

$740,000
5 Beds
3 Baths
3,177 SqFt
Status Active
MLS # 6728050
Property Type Single Family Residence
Price Type --
Assumable loan for lower interest rates! Owned Solar practically no elec bill! Nestled against the serene backdrop of a lush greenbelt, this stunning 5 -6 bedroom 3 full bathroom single level home in Hasting Farms. Energy-efficient solar panels practically eliminating the electric bill with an RV gate. Step inside and discover a beautifully appointed interior featuring archways, a mix of carpet and wood-look tile floors, and neutral palette. The formal dining area could also be an office or study, while the great room, recessed lighting, provides a spacious setting for creating lasting memories. The home's thoughtful design includes windows with special tinting to reduce heat. Another bonus room could be home office or 6th bedroom! Great porches front and back and LUSH green grass! The delightful kitchen is a chef's dream, boasting staggered beautiful upgraded cabinets, stainless steel appliances with double wall ovens, a stylish tile backsplash, granite counters, a walk-in pantry, and a center island with a breakfast bar. A massive walk in pantry! Retreat to the main bedroom, a serene sanctuary featuring an ensuite with dual sinks, a soaking tub, shower and a walk-in closet. The laundry room is equally impressive, complete with ample cabinets and a utility sink. 5 full bedrooms and a den that could be a 6th bedroom and 3 full bathrooms. Outside, the lush backyard features a covered patio and ample space for a pool or various outdoor activities, making it an ideal spot for relaxation or entertainment. Owned Solar offsets upto 95% of your electric bill! This home is a smart home with smart thermostats, a security system, water softener, a doggie door, fresh paint inside and outside, professionally cleaned carpets and entire home cleaned and so much more! You will absolutely love this beautiful home!

4698 Eagle Nest Court Pinetop-lakeside, AZ 85929

$740,000
3 Beds
2.5 Baths
2,481 SqFt
Status Active
MLS # 6713517
Property Type Single Family Residence
Price Type --
Luxury Waterfront property with best view in the neighborhood ** Brand New Roof ** Beautiful log sided home surrounded by tall pines ** Oversized picture windows and large deck overlooks the pond & streams flowing directly behind ** 3 bedrms split + DEN **Tongue & groove ceiling in the great room ** Granite counters ** upgraded cabinetry ** Gorgeous stone fireplace ** Split bedrooms with oversized primary suite ** large walk-in closet ** en-suite bathroom ** dual sinks ** jetted soaker tub ** oversized walk-in shower ** 3 private decks - 2 in back plus large front deck off the entry ** private cul-de-sac location. See features in more remarks: Luxury Waterfront property with best view in the neighborhood ** Brand New Roof ** Beautiful log sided home surrounded by tall pines ** Oversized picture windows and large deck overlooks the pond & streams flowing directly behind ** 3 bedrms split + DEN **Tongue & groove ceiling in the great room ** Granite counters ** upgraded cabinetry ** Gorgeous stone fireplace ** Split bedrooms with oversized primary suite ** large walk-in closet ** en-suite bathroom ** dual sinks ** jetted soaker tub ** oversized walk-in shower ** 3 private decks - 2 in back plus large front deck off the entry ** private cul-de-sac location. See features in more remarks: ADDITIONAL FEATURES: COMMUNITY: * Gated Community with streams throughout community, 7 ponds with walking trails HOME FEATURES: 3 bedrooms - split - Plus Den **NEW ROOF 5/2024** Pre-wired for Alarm system Water softener Floor outlets in den and great room for center room lighting needs Recessed lighting throughout Secondary bathroom is a split bathroom with shower and toilet for privacy Rain shower glass shower Recently painted interior walls with Sherwin Williams paint 2 large, covered patio deck with stained floors front & back + master deck Rain Gutters in all the right spots Energy Efficient home Tankless water heater Dual pane windows Bedrooms/Den with ceiling Fans with light Kits most rooms have dimming lights Wood blinds on All windows and French Doors Picture windows KITCHEN: Separate beverage refrigerator in kitchen Upgraded lite kitchen cabinets with lazy susan and roll out shelves Built in wine rack Highly upgraded cabinetry Beautiful granite countertops MASTER/PRIMARY BEDROOM: Walk-in shower Double sink vanity. Medicine Cabinet Private Covered Patio Deck from the Master Bedroom Heated Lamps at the Shower Entry for those cold winter days Enclosed toilet for privacy Jacuzzi Tub with beautiful Raindrop windows. Large Walk-in Master Closet with high/low clothes rods and shoe shelves. GARAGE: Painted/finished garage. LiftMaster Garage Door Opener Garage Service Door LAUNDRY: Laundry Room with Cabinets over Washer/Dryer laundry sink with lower cabinets and upper cabinets and clothes rod Enclosed Supply Closet WHITE MOUNTAIN LIVING: 4 Seasons - cool summers! 40 lakes 600 miles of rivers and streams Extensive hiking, biking trails Horseback riding Quad riding Winter skiing at Sunrise Ski Resort Fishing in lakes and streams throughout 7 Golf courses - 3 public courses Craft Shows Hot air Balloon festivals Music Festivals Car shows Antique stores Coffee shops Home decor stores

4315 N 16th Avenue Phoenix, AZ 85015

$740,000
3 Beds
3.5 Baths
2,000 SqFt
Status Active
MLS # 6734515
Property Type Single Family Residence
Price Type --
NEW in October: Added a 2 CAR CARPORT!! This 1948 home has been fully reconstructed with an added touch of modern flair. Located in a cul-de-sac in the desirable Bel Air neighborhood, this home was rebuilt from studs including an addition, creating a 3 bedroom / 3.5 bath modern home with a private ensuite in every bedroom. The massive kitchen features custom teak cabinets, a generous pantry, extra large island, stainless steel appliances, and a 36'' gas range. The home features a presidential ceiling in the living room, lvp flooring thoughout, custom pocket doors, an office, laundry room, and a huge back yard ready for you to create your dream oasis. There is no HOA and this home is located mins away from 2 major freeways, downtown, light rail, shopping and hospitals.

25555 N Windy Walk Drive Unit 94 Scottsdale, AZ 85255

$740,000
2 Beds
2 Baths
1,556 SqFt
Status Active
MLS # 6747833
Property Type Townhouse
Price Type --
This unique offering of a rare, single level, open concept townhome with attached 2 car garage in the prestigious 24/7 guard-gated Skye Top enclave within Troon Village affords the very best of all possible worlds, situated close to and connected by a new 4-lane road all the way from the front gates to the cosmopolitan conveniences of North Scottsdale, yet secreted within the pristine privacy of the guard-gated Troon Village. Guests are greeted in the foyer with vaulted ceilings and immediately taken by the picturesque floor to ceiling windows and glass doors drawing in natural light and captivating views of saguaro cacti and native flora. Sunset views, coupled with the backdrop of highly coveted Pinnacle Peak, are enjoyed not only from the large private patio, but also from the large private patio, but also from all main living/dining areas and spacious primary bedroom. The 2 bedroom + den layout is centralized by a light and bright great-room, open to the dining area and island kitchen that leads to the laundry room and large garage with storage shelving. Interior has been tastefully updated with new pot lighting throughout all rooms, paint, new kitchen appliance package, neutral wood & tile floors, matte black hardware and redesigned fireplace accent wall, to give this desert dwelling its modern personality. Conveniently located across the street from the heated community pool/spa and rec room and minutes to world class golf, hiking, dining and shopping and world famous Four Seasons resort.

4137 E Sourwood Drive Gilbert, AZ 85298

$740,000
3 Beds
3 Baths
2,551 SqFt
Status Active
MLS # 6761254
Property Type Single Family Residence
Price Type --
Beautiful Cimarron floorplan home for Sale in Trilogy at Power Ranch! This amazing home offers charming curb appeal, and everything you could want inside, with upgrades like travertine flooring, plantation shutters, and more! It is an entertainer's delight with an upgraded kitchen featuring granite countertops, a giant kitchen island, perfect for meal prep or entertaining, stainless steel appliances, no shortage of cabinets and storage, with both a Formal Dining Room and additional dining space in the family room. The kitchen looks out to the beautiful courtyard where you can enjoy those stunning Arizona sunsets. The family room is spacious with a gas fireplace, and sides to the Arizona Room for additional in-door/outdoor living! The Master Bedroom is your own retreat, as its spacious enough to fit oversized furniture and has updated wood-plank tile flooring and bay window, with a door to the backyard. The Master Bathroom is huge, featuring two separate vanities, glass shower and separate soaking tub with jets, a massive walk-in closet, and a den that would make for the perfect office, craft room, home gym, you name it! The secondary bedrooms are both spacious as well, each with their own access to full bathrooms. And don't forget about the backyard, aka your own desert oasis, with a private pool that's perfect for keeping cool in the summer months, or even doing laps! This amazing home has it all, welcome home!

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