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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4808 N 24th Street Unit 224 Phoenix, AZ 85016

$725,000
2 Beds
2 Baths
1,528 SqFt
Status Active
MLS # 6777655
Property Type Apartment
Price Type --
Discover a rare opportunity to own this luxurious, fully furnished condo crafted for those who appreciate the finer things in life. Created and designed by a top interior designer, this meticulously remodeled corner unit spares no expense including a new, special-order HVAC unit. Floor-to-ceiling windows and premium finishes elevate every detail in this condo, which boasts one of the largest private patios in the building, a true rarity. Step inside and be enveloped in warmth from natural light reflecting off wood-look luxury vinyl plank flooring, and enjoy a spacious 2-bedroom, 2-bathroom layout with a dedicated office space ideal for young professionals or as a ''lock-and-leave'' option for snowbirds. The chef's kitchen is a masterpiece, featuring crisp white quartz countertops, custom cabinetry, and newly installed stainless steel appliances, including a coveted gas stovetop. Both bathrooms are luxuriously appointed with quartz countertops and tile walk-in showers, seamlessly continuing the condo's refined aesthetic. Outside, the expansive private patio awaits, offering a tranquil spot above the vibrant Biltmore Fashion Park area, perfect for unwinding. Take in 360-degree views of the Valley from the rooftop terrace, complete with a new pool, or walk to local amenities, from upscale dining and shopping to theaters and Biltmore-area attractions. Sky Harbor Airport, Arcadia, Downtown Phoenix, and Old Town Scottsdale are minutes away, adding convenience to this incredible location. Additional perks of Unit 224 include new washer and dryer, two designated parking spaces, storage closet, abundant guest parking, and full access to the building's newly remodeled 24-hour fitness center, steam room, business center, and clubroom with a catering kitchen. An on-site HOA property manager offers concierge-level service, making every day seamless. Experience the pinnacle of luxury living at the Optima Biltmore book a tour today and make this exclusive, designer-owned residence yours!

5115 W Piedmont Road Laveen, AZ 85339

$725,000
3 Beds
2 Baths
2,344 SqFt
Status Active
MLS # 6778626
Property Type Single Family Residence
Price Type --
Updated horse property in a prime central valley location with SRP flood irrigation! Recently painted inside & out with new vinyl flooring, this is the blank slate you have been searching for and more. The fully fenced back pasture features 3 large horse stalls with water/electricity and a new chicken coop with large run so you can enjoy fresh eggs daily! A block wall fenced yard off the house is a great space for you to create a private backyard oasis. Inside, the eat-in kitchen boasts quartz countertops, updated stainless steel appliances, and a breakfast bar. A wood burning fireplace in the family room creates a cozy atmosphere perfect for the holidays with loved ones. You don't want to miss this rare opportunity to own over an acre with NO HOA!

420 W Mountain Vista Drive Phoenix, AZ 85045

$725,000
4 Beds
3 Baths
2,329 SqFt
Status Active
MLS # 6779431
Property Type Single Family Residence
Price Type --
Your private botanical oasis awaits in Ahwatukee, offering stunning mountain views & an ultra-lush landscape. This is a meticulously maintained home with a fresh new kitchen complete w/ under counter lighting & more. A true outdoor paradise, complete with a saltwater pool that can be illuminated in various colors, a soothing jacuzzi, and 22 trees, including fruit trees that ensure privacy as well as vibrant shrubs, herbs, & flowers, all complemented by a brand-new pergola, child protection around the pool, automatic lighting, and three fire pits for cozy gatherings. Inside, the luxurious master suite features a walk-out balcony & a spacious en-suite bathroom. New roof 2017, reverse osmosis & more. Top-rated Kyrene and Tempe schools. Careful, an oasis like this could disappear quickly!

20421 E Ocotillo Road Queen Creek, AZ 85142

$725,000
4 Beds
1 Bath
1,137 SqFt
Status Active
MLS # 6778854
Property Type Single Family Residence
Price Type --
Historic Charm Meets Modern Comfort! Step into this captivating 4 bedroom, 2 bathroom home nestled in the heart of Queen Creek. The interior boasts stunning wood floors that flow seamlessly through the common areas, and into the newly remodeled kitchen. The large lot provides ample space for outdoor enjoyment, and the charming exposed brick exterior adds to the home's unique character. Experience the best of both worlds with this prime location, just moments away from downtown Queen Creek's vibrant shops and restaurants.

243 S Tiago Drive Gilbert, AZ 85233

$725,000
4 Beds
2.5 Baths
2,979 SqFt
Status Active
MLS # 6781945
Property Type Single Family Residence
Price Type --
Spacious single-level 4-bedroom, 2.5-bathroom home with an extended 3-car garage on a large lot in a prime Gilbert location! This split floor plan offers both a living room and a family room with vaulted ceilings and plantation shutters. Family room includes a cozy fireplace. The kitchen features an island, granite countertops, refaced cabinets with pull-out shelves, a pantry, and an eating area, with the refrigerator included. Extra-large primary bedroom with backyard access, walk-in closet, and a beautifully updated bathroom with a tiled shower. Enjoy the sunroom/patio for year-round outdoor living! The low-maintenance backyard includes artificial turf. The garage offers additional storage cabinets and two 20-amp outlets for a freezer or compressor. Laundry room includes a sink, and there's a Kinetico water softener system. Recently painted exterior. Fantastic central location near the Heritage District!

8033 W Robin Lane Peoria, AZ 85383

$725,000 - 4Br/2Ba -  for Sale in Deer Valley Estates, Peoria
New
$725,000
4 Beds
2 Baths
2,147 SqFt
Status Active
MLS # 6782582
Property Type Single Family Residence
Price Type --
Your own private oasis located in Northern Peoria WITH RV parking! In the High End Neighborhood of Deer Valley Estates on large lots, the homes in this area are beautiful and wonderfully maintained. This home offers elevated Landscaping front and back, a diving pool, custom paint inside/out, Granite countertops in the eat in kitchen, gorgeous tile flooring, oil rubbed bronze fixtures, epoxied Garage floor, stainless steel Appliances and a drinking water filtration system incorporated in kitchen faucet. It is a must see for any buyer. Buyer to verify all information

7341 N 157th Avenue Litchfield Park, AZ 85340

$725,000
4 Beds
3.5 Baths
3,465 SqFt
Status Active
MLS # 6782087
Property Type Single Family Residence
Price Type --
This fantastic gated two-story, 4 bed room home, separate Casita, nestled on a 1 acre lot brims with charm and character at every turn! Energy-efficient, a 2-car detached garage, a garden fountain, and a welcoming front porch are features that can't be left unsaid. The large living room and the formal dining room adorned with exposed ceiling beams, creating a warm, inviting atmosphere. Abundant cabinets with crown moulding, recessed lighting, built-in appliances, mosaic tile backsplash, and tile counters make this kitchen a cook's delight. Venture to the sizable primary bedroom, offering a walk-in closet and a private bathroom, adding convenience to your daily routine. Massive backyard includes a covered patio, gazebo, and storage shed. This gem is the one you've been looking for

19550 N Grayhawk Drive Unit 2018 Scottsdale, AZ 85255

$725,000 - 3Br/2Ba -  for Sale in Cachet At Grayhawk Condominium, Scottsdale
New
$725,000
3 Beds
2 Baths
1,795 SqFt
Status Active
MLS # 6782449
Property Type Townhouse
Price Type --
Fantastic views of the McDowell Mountains and Talon golf from this single level Monarch plan in Cachet at Grayhawk. Lightly used as a second home this upgraded unit features split great room plan with 3 beds , 2 baths, and a direct entry 2 car garage. High flat ceilings, wood look tile throughout, raised-panel maple cabinets, granite counters, ss appliances, tile backsplash, & upgraded baths mean the heavy lifting has been done for you. Cachet is in the guard gated Talon Retreat& features its own heated pool/spa, workout facility, tennis courts, & tons of walking trails. Easy access to the 101, DC Ranch Market Street, Kierland/Scottsdale Quarter, & numerous championship golf courses. This unit is in a great interior location with views & is great for a primary or secondary residence.

5653 S Crowley -- Mesa, AZ 85212

$725,000
2 Beds
2.5 Baths
2,470 SqFt
Status Active Under Contract
MLS # 6732727
Property Type Single Family Residence
Price Type --
Welcome to this wonderful home nestled in the Encore at Eastmark, an Active Adult Community. This community boasts top-tier amenities including pickle ball courts, a fitness center, swimming pools, walking paths and more. This immaculate single-level home features an open floor plan with neutral tones with wood and tile flooring. The entry opens to a dedicated office and formal living room, while a private-entry guest suite adds convenience for hosting. Primary suite has a large walk-in shower, expansive closet and double sinks with quartz counter tops. The heart of the home is the eat-in kitchen, complete with a large center island, gas cooktop, breakfast bar, and stainless steel appliances, along with a walk-in pantry and a butler's pantry that doubles as an additional office or hobby room. Enjoy the covered patio, an outdoor pergola, built-in BBQ, and an outdoor fireplace with family and friends. Located within walking distance to all community amenities, this home offers a luxurious, comfortable lifestyle in one of Mesa's most sought-after communities.

4805 N Woodmere Fairway -- Unit 2007 Scottsdale, AZ 85251

$725,000
2 Beds
2 Baths
1,378 SqFt
Status Active Under Contract
MLS # 6753847
Property Type Apartment
Price Type --
Centered in the middle of Old Town Scottsdale and surrounded by the best restaurants, high end shopping + boutiques, 5 star luxury resorts, Camelback Mountain, hiking, & the buzzing nightlife, is The Sage Luxury Condominiums. For those desiring the low maintenance lifestyle, with everything at your fingertips, this is the one! With 2 bedrooms and 2 bathrooms, the 1,378 sq ft condo, features French oak floors, open concept kitchen-dining-living, cozy gas fireplace, sunset/camelback mountain views, split floorplan, custom cabinetry throughout, granite + marble countertops, plantation shutters, the list goes on. The community amenities can't be beat: with the elevator entry, no interior steps, gated underground parking with EV charging stations, heated pool & spa, fire pits, grill area, cabanas, clubhouse/rec room with 2 gyms, and a private wine cellar with tasting room AND this condo comes with it's own private wine locker. The Scottsdale Lifestyle is calling, pick up!

1348 E Spur Avenue Gilbert, AZ 85296

$725,000
4 Beds
2 Baths
2,478 SqFt
Status Active Under Contract
MLS # 6764027
Property Type Single Family Residence
Price Type --
Entertainer's Dream Home! This beautiful single story 4-bedroom gem in the heart of Gilbert sits on a corner lot and offers a ridiculously large backyard with sparkling pool with a rock waterfall, a built-in BBQ, double RV gate, it's perfect for hosting friends and family. The primary suite features direct pool access and a spa-like bathroom, providing a luxurious retreat. With a formal living room and dining room, in addition to the eat in breakfast area and family room, this home is perfect for both entertaining and everyday living. The wide open kitchen is ready to host holiday meals for the entire crew with a gourmet kitchen and a MASSIVE pantry. This home has everything you need to create unforgettable memories. Lastly, the serene backyard offers a covered patio, built-in BBQ, RV gate, & an enticing pool w/rock waterfall. A deal like this will sell fast!

7521 E Edgemont Avenue Scottsdale, AZ 85257

$725,000
3 Beds
2 Baths
1,952 SqFt
Status Active Under Contract
MLS # 6772890
Property Type Single Family Residence
Price Type --
Discover this tastefully renovated 3-bedroom, 2-bath home at 7521 E Edgemont Avenue in one of South Scottsdale's most desirable neighborhoods. With 1,952 square feet of light-filled, open living space, this move-in-ready home features freshly painted interiors and exteriors, complemented by new energy-efficient windows. The modern kitchen boasts new cabinetry, a walk in pantry, granite countertops, stainless steel appliances, and a gas stovetop with a hood vent. The open layout includes luxury vinyl plank flooring throughout. Large, windowed doors lead to a tranquil backyard with natural grass, a paved patio, and two storage sheds. Just steps from El Dorado Park and minutes from Old Town Scottsdale and Fashion Square Mall, this home is a perfect blend of modern upgrades and prime location

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