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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8009 W Northview Avenue Glendale, AZ 85303

$725,000
4 Beds
3.5 Baths
3,240 SqFt
Status Active
MLS # 6770733
Property Type Single Family Residence
Price Type --
*THIS HOME IS A VIBE* Get ready to entertain with this one! Open Floorplan with Tile Flooring, Granite C/Tops, 42-inch Cabinets w/Under Lighting, Kitchen Island w/Bar Seating & Custom Pendants, Rare Backsplash, Walk-in Pantry, Stainless Appliances including Gas Cooktop, Hood & Double Wall Ovens, Ceiling Fans, 8-foot Doors, Teen Space near Guest Bedrooms, Split Master Suite, Additional Bedroom has its own Ensuite Bathroom + all Bedrooms have Walk-In Closets. 3-Tier Sliding Door leads to the Backyard where you'll find Extended Patios w/Power & Fans, TV setup, Turf, Paver Hardscape, Custom Fence Murals, String Lights & Low Voltage Lighting to create the perfect ambiance! Triple (tandem) Garage, RV Gate w/Slab behind, Fenced Dog Run. Gated Community with Park around the corner. KEEP READING! Nearly new having been built in 2022. Additional features include window blinds, formal dining space + eat-in kitchen area, 1/2 bath for guests off the living space, tall vanities in all bathrooms plus double sinks in main guest bathroom & master, water softener, oversized laundry room, security system, paver driveway, coach lights, north/south exposure lot, gas stub in back for easy installation of an outdoor kitchen / firepit. Location close to Westgate & Park West Entertainment, Shopping & Dining options plus Loop 101 Freeway is convenient too.

28389 N 131st Drive Peoria, AZ 85383

$725,000
5 Beds
3 Baths
2,475 SqFt
Status Active
MLS # 6770836
Property Type Single Family Residence
Price Type --
Immerse yourself in pure luxury! This stunning 5-bedroom residence includes a rare-find, 4-car garage! The breathtaking exterior includes an upgraded paver driveway, charming brick accents, and a premium lot with the added privacy of no neighbors behind, securing unobstructed views! Fall in love with the enchanting interior, featuring an open floor plan with 10 ft ceilings, a tranquil greige palette, & stylish tile that mimics the look of wood flooring without the inconvenience. The immaculate kitchen comes with quartz counters, abundant shaker style cabinetry with crown moulding, pendant/recessed lighting, stainless steel appliances, pantry, and a large center island with plenty of seating for casual gathering and entertaining! Unwind in the primary suite located off the main living area, offering plush carpeting in all the right places, clerestory windows for ample natural light, an ensuite with double sinks, and an expansive walk-in closet. Retreat to an oasis backyard through the one of the large sliding glass doors, where you'll find a lovely covered patio, privacy and mountain views. There is a well-manicured lawn and stylish pavers, perfect for hosting weekend BBQ get-togethers. On the other side of the home, you'll find additional bedrooms to meet all your needs, along with ample bathroom space for added convenience. Make this newer built gem all yours!

43630 N 20th Street New River, AZ 85087

$725,000
3 Beds
2 Baths
1,772 SqFt
Status Active
MLS # 6770262
Property Type Single Family Residence
Price Type --
Fully Remodeled home from top to bottom! So much work has been accomplished on this home, the surrounding terrain, the workshops etc, it's practically brand new again!! Far too much to list here, so o to doc section for complete list or ask for all details. This home sits on 2.58 acres with sweeping/360 degrees mountain views. Enjoy the wrap-around porch and take it all in. Major bonus is the 1260sf WORKSHOP, GIANT PRIMARY SUITE, RV CARPORT w/ power, horse privileges. Additional and separate arts and crafts studio (or additional covered storage if you need it) on property. Complete new roof installed 2023' as well! The sunsets seen here are simply next level, so don't miss this one! Two separate (1) acre lots are also available if you want additional land!

960 W Hermosa Drive Wickenburg, AZ 85390

$725,000
3 Beds
2 Baths
1,888 SqFt
Status Active
MLS # 6770652
Property Type Single Family Residence
Price Type --
STUNNING!! Take a look at this beautiful 2021 custom, one level, Ranch style home. Starting with the front of the house w/ stylish stone exterior and colorful entryway. Open the front door to large picture windows, to take in the AMAZING VIEWS! Open floor plan. Large kitchen island featuring Quartz countertops, Stainless Steel appliances, modern lighting, large walk-in pantry & lots of cabinet space. 2 bedrooms for guests w/a tiled walkin shower. Master bedroom w/large walk in closet, luxurious tile shower & large windows for natural light. Access to the backyard to relax on the covered patio. 28x14 pool, 3-5 ft deep. Beautifully landscaped w/rock, natural desert vegetation, synthetic grass & colorful flowers. 2.5 car garage, built -in work bench. & 220 outlet. RV gate & hookup. No HOA.

1264 E Walnut Road Gilbert, AZ 85298

$725,000
4 Beds
3 Baths
2,418 SqFt
Status Active
MLS # 6770933
Property Type Single Family Residence
Price Type --
Meticulously maintained and gorgeously updated Shea Home in Vista Dorada. Open, great room style floor plan with a downstairs media room/office. 4 large bedrooms including a giant master en suite with custom shower, cabinetry, tile and counters. Walk in closet that can meet just about any shoe fetish to boot. 3 bathrooms, and an amazing indoor to outdoor feel that is perfect for entertaining! Sparkling pool surrounded by turf in the back that leads you to the outdoor kitchen under the cover of a pergola. 3 car tandem garage with lots of room for storage, and an RV gate with even more space for toys. Great location, schools, amazing neighbors, and it's ready for you! Welcome home.

20750 N 87th Street Unit 2131 Scottsdale, AZ 85255

$725,000
3 Beds
2 Baths
1,825 SqFt
Status Active
MLS # 6772315
Property Type Townhouse
Price Type --
This gorgeous ''Villa Four'' floor plan in Encore at Grayhawk is a gem! The open concept great room seamlessly blends dining, kitchen & entertainment spaces . Walking upstairs you'll find a beautifully designed kitchen with granite counters, tiled backsplash, alder cabinets, stainless appliances (including gas range), large pantry, breakfast bar & lots counter space. Kitchen looks out to a spacious living room with built-in entertainment center & gas fireplace, making the entire area perfect for entertaining. Just beyond is a large balcony with access from living room. Owner's suite and bath offer a walk-in closet, separate tiled shower & tub, dual vanities and private patio access to balcony. Walk to the Grayhawk Golf Club and the many shops and restaurants at DC Ranch Market and more!

4427 S Priceless View Drive Gold Canyon, AZ 85118

$725,000
3 Beds
2 Baths
2,039 SqFt
Status Active
MLS # 6772597
Property Type Single Family Residence
Price Type --
Talk about Priceless Views! Welcome to a beautifully upgraded oasis nestled in the heart of Gold Canyon, AZ. This exceptional residence offers the perfect blend of modern luxury and desert charm, making it a true gem in the community. This home is entertainment ready! Top-of-the-line surround sound system. Cook in style with Samsung Bespoke appliances and commercial grade fixtures that deliver superior performance, making it a chef's dream. Pamper your guests in the newly designed custom designer shower featuring contemporary finishes and a spa-like feel. Curb appeal too, includes new paint, designer wood series garage door, Beautifully landscaped yard, commercial mist system. Plus added peace of mind with new whole home water softer, and recent roof resurfacing.

935 E Morningstar Lane Tempe, AZ 85283

$725,000
4 Beds
3 Baths
2,892 SqFt
Status Active
MLS # 6772926
Property Type Single Family Residence
Price Type --
Welcome to the Highly Desired Tempe Lakes! The Recent Updating to Include: High End Kitchen Cabinets w/ Granite Countertops - Travertine Flooring - Wine/Coffee Bar - Stainless Steel Kitchen Appliances - Dual Pane Windows Throughout - Pebble Tec Pool - Rear Patio has Built in BBQ Island w/ Sink - Custom Stair Railing - All Bedrooms are Oversized - Enjoy the Multi-Million $ Clubhouse - South Tempe Good Schools - Lake Access is only a 1/2 Block Away from the 5.5 Miles of Shoreline the Tempe Lakes has to Offer! - A Friendly Place to Live!!

15008 N 48th Place Scottsdale, AZ 85254

$725,000
3 Beds
2.5 Baths
1,674 SqFt
Status Active
MLS # 6773475
Property Type Single Family Residence
Price Type --
Spacious Three Bedroom, Two-and-a-half bathroom beautiful home in 85254. Fresh paint inside and out with trendy, neutral color palette. New wood-like durable laminate in great room and family room, tile in kitchen and bathrooms, all bedrooms new, neutral-colored, comfortable carpet. Perfect sized kitchen with crushed granite counter tops, stainless steel appliances, lots of cabinet space. TWO Fireplaces, one in Living Room, the other in Family Room. Light and bright and clean! Garage super clean, as well. Pool decking resurfaced. Nice long patio with built-in BBQ. Easy, low maintenance landscaping. No HOA!!!

402 W Beechnut Place Sun Lakes, AZ 85248

$725,000
3 Beds
3 Baths
2,348 SqFt
Status Active
MLS # 6776343
Property Type Single Family Residence
Price Type --
DESIRABLE Barcelona w/ CASITA Model in the GATED, ADULT COMMUNITY of Ironwood featuring INTEGRA BLOCK CONSTRUCTION, 2019 ROOF, 2021 Water Heater, 3 Bedrooms + DEN & PVC LANDSCAPE DRIP SYSTEM. The EAT-IN Kitchen features an ISLAND, tons of cabinet space, Pantry, Stainless Appliances & GAS COOKTOP. The SPACIOUS Master Suite has a sitting room, double sinks, SEPARATE TUB/SHOWER & MASSIVE WALK-IN CLOSET. Full Guest Bath & 2nd Bedroom in main house. 3rd Bedroom/Bath in SEPARATE GUEST HOUSE. Extra storage in the LAUNDRY ROOM & 2-CAR PLUS GOLF CART GARAGE. The NORTH-FACING, EXTENDED AZ ROOM overlooks the LOW MAINTENANCE BACKYARD w/ AMAZING GOLF COURSE VIEW. All of this PLUS Sun Lakes' amenities like: golf, tennis, pickle ball, pools, fitness center, clubs, social activities & restaurants!

9947 W Wizard Lane Peoria, AZ 85383

$725,000
4 Beds
2 Baths
2,142 SqFt
Status Active
MLS # 6776560
Property Type Single Family Residence
Price Type --
Discover your dream home with RV parking in a prime location! This 4-bedroom, 2-bath gem offers everything you need for comfortable living. The kitchen is a chef's delight, featuring granite countertops, a new GE refrigerator, gas stove/oven, microwave, and a new Bosch dishwasher. Freshly painted inside and out in 2024,New carpet,the home feels brand-new! Enjoy peace of mind with a new HVAC system installed in August 2024, complete with a transferable warranty. New Soft Water System 2024 The backyard is perfect for entertaining, boasting landscaping and a pool built in 2021 and an extended patio. This home is just a short walk to Liberty High School and only 5 minutes from the Four Corners—offering fantastic options for dining, shopping, and entertainment

7663 E Pleasant Run -- Scottsdale, AZ 85258

$725,000
2 Beds
2 Baths
1,590 SqFt
Status Active
MLS # 6778636
Property Type Townhouse
Price Type --
Complete remodel, lock and leave, in impressive location with restaurants and shops in walking distance, on the Green Belt in McCormick Ranch. No expense spared on this full renovation. All new plumbing, new electrical, duct work, new flooring throughout. Big kitchen with lots of storage, walk in pantry, stainless steel appliances in a bright open floor plan going into the great room. Ceiling fans throughout. Primary bedroom is fantastic with plenty of room, well lit bathroom with skylights, double sink, free standing tub and a shower with waterfall and hand held wand, walk in closet. Second bedroom is spacious. This is one you will want to see. Great, quiet location within community, right next to the pool, just walk out your back slider. The nicest 2/2 in Pleasant Run!

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