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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18049 W Denton Avenue Litchfield Park, AZ 85340

$725,000
4 Beds
2 Baths
2,782 SqFt
Status Active
MLS # 6763027
Property Type Single Family Residence
Price Type --
This custom home on a large lot in the coveted community of Russell Ranch has 4 bedrooms, 2 baths, a bonus room, open kitchen and great room as well as an oversized 3 car garage, exterior storage, an RV gate and 2 newer Trane AC's. Inside you'll find an updated kitchen with double ovens, built in microwave and island, new RO system, dual hot water heaters, 10ft ceilings, nest thermostats, recessed lighting, neutral finishes and a split floor plan. Take advantage of being close to entertainment, restaurants, highways, while being in a quiet, peaceful, upscale community.

10460 E Fanfol Lane Scottsdale, AZ 85258

$725,000
2 Beds
2 Baths
1,473 SqFt
Status Active
MLS # 6764702
Property Type Single Family Residence
Price Type --
Impeccable Remodeled Gorgeous Home Ready to Move-in to! This popular Single-level floorplan features a Spacious Primary Bedroom with 12' Ceilings, a Walk-in Closet, and Ensuite Bath: a Cozy Living Room, 2 car Garage, and an Easy to maintain Backyard with a Covered Patio, Barbeque Grill and Lush Landscaping. You'll Love the appeal of Suntree East, an Exclusive Gated Community of 192 homes that provides privacy & walkable streets lined with grass front yards, a Heated Community Pool, and Social Activities. Exceptional location is close to the loop 101, Honor Health, and Scottsdale Ranch Park, Tennis Center and a 10-minute walk to the Mergado Shopping Centre.

4647 N 24th Street Phoenix, AZ 85016

$725,000
3 Beds
2 Baths
1,800 SqFt
Status Active
MLS # 6764476
Property Type Single Family Residence
Price Type --
Prime Biltmore location with incredible potential! This beautifully remodeled 3 bedroom, 2 bathroom home is nestled in the heart of the coveted Biltmore area, just steps from the upscale shopping and fine dining that make this neighborhood so desirable. Situated on a high-visibility street, this property offers an exceptional opportunity for a home-based business with its dedicated office space. Imagine welcoming clients into your professional workspace while still enjoying the comforts of home. Beyond its business potential, this residence boasts a spacious and inviting interior, perfect for relaxing or entertaining. Don't miss out on this chance to own a piece of the Biltmore lifestyle!

18675 N 91st Street Scottsdale, AZ 85255

$725,000
2 Beds
2 Baths
1,542 SqFt
Status Active
MLS # 6765572
Property Type Single Family Residence
Price Type --
Great value for a single-family home in Central Scottsdale's Ironwood Village. Clean and well maintained 1-level with 2 split bedrooms, 2 bathroom, open living concept with high vaulted ceilings and lots of light. Landscaping boasts a variety of cactus and well-groomed trees and shrubs including citrus. Enjoy the over-sized backyard patio on those relaxing evenings. Ceiling fans, sunscreens, water softener, and newer water heater, roof and a/c will help keep your utility and maintenance costs reasonable. Nearby recreational opportunities at Ironwood Park, the Gateway Trailhead and more. This would make a great home for any small household or winter visitors. Similar comps are in the $825K range, so there's room to put your own stamp on refreshing the mostly original interior.

4813 W Yoosooni Drive New River, AZ 85087

$725,000
3 Beds
2.5 Baths
2,666 SqFt
Status Active
MLS # 6771298
Property Type Single Family Residence
Price Type --
Discover your perfect home in Anthem Parkside's desirable Arroyo Grande neighborhood! This beautiful ''Majesty'' model offers all the comforts of modern living with the freedom to park your RV or boat on your property—no HOA restrictions! The inviting courtyard and secure screen door lead you into a single-level layout featuring 3 bedrooms, an office/den, and 2.5 bathrooms. The chef's kitchen showcases stainless appliances, granite counters, and a spacious island. Enjoy privacy in the master suite with access to a tranquil backyard oasis, complete with a gas fire pit, hot tub, and built-in BBQ. With owned solar and low-maintenance landscaping, this home is a rare find!

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.

23228 N Gaviota Drive Sun City West, AZ 85375

$725,000
4 Beds
3 Baths
2,151 SqFt
Status Active
MLS # 6773553
Property Type Single Family Residence
Price Type --
Step into the ultimate of resort-style living with this impeccably renovated 4-bedroom, 3-bathroom San Marco Model home with private Casita, located in the prestigious Gated Corte Bella Country Club. Spanning 2151 sq ft, this home has undergone a complete transformation in 2019 - 2020, enhancing every aspect to deliver a modern and luxurious lifestyle. The exterior boasts a private greenbelt corner location with professionally re-designed landscaping including lush trees, palms, plantings and strategic lighting. A large welcoming courtyard with a custom gate, travertine, private casita, and soothing water feature greets you upon arrival. This lot and location rare having both side and rear privacy plus amazing sunsets. Stepping into the main home's foyer, there is an elegant rotunda featuring a custom table fit to the rounded wall, as well as a mirrored niche. A great room with French Patio Doors, a custom arched media wall with bench seating, mirrored shelving, lighting and large TV mount. Combining living and dining this floor plan is open and adjoined with an exquisite kitchen. The kitchen steals the show with its custom features including another custom arched wall, extended island, redesigned cabinet layout, as well as the addition of more cabinets, upgraded stainless steel appliances, and quartz countertops showcasing a stunning backsplash. The primary suite is a haven of tranquility with a designer wallpapered accent wall, direct access to the rear yard and patios, space large enough for a conversation /relaxation seating area. The accompanying primary bath features a custom walk-in tiled shower, new sinks, designer faucets, hardware, beautiful fixtures, and remodeled quartz countertops. The guest bathroom equally lavish, offering a custom walk-in shower, designer sink with faucet and a furniture style cabinet. The elegant wall paper and paint, simply gorgeous. Entertaining is a breeze with a rear built-in BBQ and an extended travertine patio that promises many evenings of relaxation with no neighbors behind. The outdoor space, feels like an extension of the home with its outdoor curtains, TV and comfort. This home not only offers aesthetics but also practical upgrades such as a new laundry setup with upper and lower new cabinets, a new sink, and newer washer and dryer. The property provides an unparalleled lifestyle for those aspiring to own a sophisticated and modernized home in a reputable country club setting. It's more than just a home; it's a lifestyle upgrade waiting for you.

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!

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

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!!

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