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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22861 E Alyssa Road Queen Creek, AZ 85142

$714,990
3 Beds
2.5 Baths
2,451 SqFt
Status Active
MLS # 6763682
Property Type Single Family Residence
Price Type --
Madera at Sultana , Aspen ~newest plan for Ashton Woods, Madera allows for quiet living with convenient access to the 24 Freeway and Shopping while providing amazing community ammenities. The Aspen Floor Plan gives you spacious living with an open concept that provides the much needed outside storage for your trailers, toys,shop area in the 4 car supersize garage with rear door. Tankless water heater, 4 panel SGD,double gate, den with doors,larger lot size in Madera. This home features a gourmet kitchen, deco wrapped island, GE built in appliances, 36'' gas cooktop, and beautiful shaker cabinetry and quartz counters in the kitchen. Neutral color palette throughout the home. The main living areas are styled with 8' interior doors, wood plank tile floors and upgraded carpet, oversized spacious bedrooms, and the primary bathroom features an enlarged tiled shower and separate free standing tub. The 4 car supersize with rear access door is a must see garage. Stop by to see the newest master plan community in Queen Creek and newest floor plan.

20642 W Montebello Avenue Buckeye, AZ 85396

$714,940
3 Beds
2 Baths
2,236 SqFt
Status Active Under Contract
MLS # 6767074
Property Type Single Family Residence
Price Type --
Experience luxury and comfort with breathtaking **MOUNTAIN and CITY VIEWS** in this coveted Goldfinch floorplan. Outdoor oasis of this nearly new Victory Home features 20' stacking slider complete with custom screens and shades, expansive travertine and large outdoor patio: *TV included!*. Relax in 5-person Jacuzzi Spa with custom cover and lights and at the gas fire table. Enjoy the *twinkling city lights* from your raised patio platform & breathtaking sunset views of Tiger Mountain from backyard & spacious owners suite. Kitchen upgrades include SS gourmet appliances with gas cooktop, culinary hood and double ovens ready for holiday baking. Your on-trend finishes include modern quartz countertop, undermount SS single sink, pot & pans drawers and included GE Profile French-Door fridge. Herb garden is complete with Basil, Thyme, Oregano & Lavender on drip system and timer. Squeeze every moment out of your morning with 3 Orange Trees, an Olive Tree & 2 Agave Plants. Enjoy the oversized owners shower with an 10 overhead rainfall showerhead and $4,000 upgraded tile to the ceiling with bench for safety and convenience finished with frameless glass doors. A personal makeup vanity separates double sinks with 2 extra storage cabinets for all your linens and bathroom accessories leaving extra room for your spacious owners suite walk-in closet. Impress your guests with a comfortable 2nd bedroom with full bath next door for privacy and convenience. Custom barn doors enclose versatile space that can be used as a 3rd bedroom, personal den or private living room for guests. Enjoy views of your luxury outdoor oasis from your pocket office with expansive surface for working or crafts along with floating shelves. The laundry room boasts custom built-in cabinets and countertops with extra space for additional storage. Your oversized wide 2-car garage is complete with upgraded vinyl plank flooring with extra room for your golf cart, custom built-in garage cabinets with space for a TV to catch the game and overhead storage for more room to store. Enjoy this coveted, Goldfinch Floorplan that just completed the 1-year inspection with meticulous attention to detail. FREE Warranty included on the home which carries over to the new owners FREE of charge. This home is part of the Annika Community that is known for their neighborly community and events. See Docs Tab for Extensive List of Additional Luxury Upgrades, SPDS & Warranty Information. Owner is open to leaving furniture for a cost to be negotiated apart from the contract. Victory at Verrado is an amenity-rich active adult community within the Master Planned community of Verrado. This community offers a slice of paradise for golf enthusiasts, with 2 beautifully manicured golf courses providing endless hours of enjoyment. Each course is complete with its own Clubhouse, bar, and restaurant! The main clubhouse even offers a full-service salon! Beyond the greens, residents can indulge in resort-style living, featuring multiple inviting swimming pools, state-of-the-art fitness centers, and versatile sports courts for active recreation. Nature lovers will delight in the convenience of nearby hiking and walking trails, while the vibrant clubhouse serves as the social heart of the community, offering an array of activities for forging connections and making cherished memories with friendly neighbors. Main Street Verrado offers a grocery store, 2 salons, restaurants, and much more! This is the perfect place to embrace the best of both worlds: serene desert living and easy access to the vibrant city of Phoenix.

4710 E Winston Drive Phoenix, AZ 85044

$714,900
5 Beds
3 Baths
2,489 SqFt
Status Active
MLS # 6760545
Property Type Townhouse
Price Type --
''Temporary 1-0 Buydown offered by preferred lender for qualified buyers.'' Absolutely stunning home in the highly sought after Pointe South Mountain. The owners have done extensive, thoughtful remodeling with no expense spared. Upon entering you will enjoy the soaring ceiling and abundant light. Imagine enjoying the main living space with your friends and family for weekend gatherings or the upcoming holidays. Just off the main living space is the perfect sized dining area with modern lighting. Then you enter the designer kitchen with attentive details, extra space and added function. The owners added custom soft close cabinets and pull out drawers on the lower cabinets, double decker Lazy Susan. a butcher block counter top, upgraded SS appliances, beautiful granite counters. Owned water softener, stunning tile and so much more. Just off the kitchen is a cozy kitchen nook. Downstairs also features a comfy Primary suite with access to the backyard and a luxurious bathroom complete with double sinks, tons of upgraded cabinets, quartz counter top, stylish shower with jetted body massage system and rain shower head and semi-private toilet area. The secondary bedroom could be the perfect spot for an office. Before heading upstairs make certain to have a look at the luxurious cedar closet. Upstairs you will be delighted to see real wood floors and modern woodwork. There are 3 bedrooms, 2 with outdoor balconies. This home has so much to offer but don't forget about the beauty of the community. The Pointe is situated at the base of South Mountain, the largest public park in the country with endless miles of hiking or trail biking and this home is only 5 houses down from access to the trails. There are 4 pools available with 3 heated during the cooler weather for year round enjoyment. If you are a golfer, enjoy the Arizona Grand golf course but even non golfers will enjoy this lush green oasis in the desert. Lastly, did we mention the incredible location with 15 minutes Sky Harbor, 20 minutes to Downtown Phoenix with the I-10 and US-60 just around the corner and tons of restaurants and shopping close by? Come have a look and take your time to enjoy everything this incredible home has offer.

2607 W Gray Wolf Trail Phoenix, AZ 85085

$714,900
4 Beds
2.5 Baths
2,711 SqFt
Status Active
MLS # 6684270
Property Type Single Family Residence
Price Type --
This move-in ready home offers 4 bedrooms & den & 2.5 baths in 2700 SqFt with an open great room floor plan & spacious upstairs loft. The kitchen features staggered maple cabinetry, granite counters, stainless appliances, walk-in pantry & island with breakfast bar & pendant lighting. Sliding doors lead out from the dining area to covered patio with surround sound & gas stub for BBQ, extended paver patio with a sparkling pool with a water feature, perfect for relaxing and entertaining. The master retreat is on the main level & has a bay window and private bath with dual sink, granite vanity, oversized tiled shower & walk-in closet. 3 secondary bedrooms are upstairs & all have walk-in closets. Other features include a 3 car tandem garage . A Must see

20362 E Bronco Drive Queen Creek, AZ 85142

$714,900
3 Beds
2 Baths
1,800 SqFt
Status Active
MLS # 6770422
Property Type Single Family Residence
Price Type --
This is the dream home you've been waiting for in the exclusive Will Rogers Equestrian Ranch community! With over $250K recent high-end upgrades, the owner spared no detail in this meticulously remodeled contemporary masterpiece. The chef's kitchen is a showstopper, featuring custom-designed ShowPlace cabinetry with 42'' high wall cabinets in a chic Heron Plume finish, soft-close hardware, a pie-cut lazy susan, LED lighting, Blanco ''Diamond'' undermount sink and a 36'' x 42'' decorative tapered range hood with a Vent-A-Hood 600 CFM blower. Enjoy brilliant Pental Quartz countertops paired with a designer tile backsplash in the Paloma Picket pattern, new stainless steel appliances, and stunning wood-look tile flooring throughout. The master bath has been elegantly reimagined (see more). with new cabinetry, countertops, sinks, faucets, lighting, and stylish new flooring. The guest bath also boasts a sleek remodel, featuring a tub-to-shower conversion, new cabinetry, and modern finishes. Even the 3-car garage has been revamped with new flooring, cabinetry, and paint. The home is freshly painted inside and out, with custom backyard doors adding to its appeal. Nestled in the heart of Queen Creek, Will Rogers Equestrian Ranch is a one-of-a-kind horse community, complete with a 15-acre equestrian center offering stables, arenas, round pens, and access to scenic trails. Community perks also include a pool, RV parking, sport courts, and a clubhouse, all just minutes from Queen Creek's best shopping, entertainment, and parks. Bring your horses and your toysthis is the dream home you've been searching for! Don't forget to check out the documents tab for a full list of top-of-the-line upgrades!

1100 Verde Valley School Road Sedona, AZ 86351

$714,900
5 Beds
3 Baths
2,573 SqFt
Status Active
MLS # 6751133
Property Type Single Family Residence
Price Type --
Check out the stunning Sedona red rock views from this amazing Oak Creek home! The 5 bed/3 bath single-level home features a split floor plan, cathedral ceilings, ample natural light, and updated bathrooms. The remodeled kitchen boasts striking solid surface countertops, exquisite cabinetry, and new stainless steel appliances. Out back, stay cool under the expansive covered patio and enjoy the mountain views. The property provides easy access to all of the amenities of the Village of Oak Creek and the I-17. Welcome home!

26841 N 14th Lane Phoenix, AZ 85085

$714,900
4 Beds
2 Baths
2,018 SqFt
Status Active
MLS # 6762621
Property Type Single Family Residence
Price Type --
This stunning home is nestled at the foot of a serene mountain preserve within the highly sought after master planned community of Fireside at Norterra. New AC unit and exterior paint. The fabulous interior showcases shutters, on-trend color palette, tile flooring in common areas, and wood floors in bedrooms. Versatile formal dining room and desirable great room w/pre-wired surround sound. The open-concept kitchen boasts SS appliances, granite counters, travertine backsplash, recessed & pendant lighting, pantry, wood cabinetry, and a prep island w/breakfast bar. Primary bedroom has an ensuite with dual sinks. You won't want to leave the backyard with breathtaking views of the Sonoran Mtn Preserve. Fireside amenities include community center with gym, pools, tennis, parks and much more Discover the spacious backyard, where tranquility meets outdoor living! It includes a firepit, an extended paver-covered patio, artificial turf, and a view fence for serene vistas. Fireside amenities feature a state-of-the-art community center that includes a gym, pools, tennis courts, parks, rock climbing wall, & much more. Enjoy endless recreation and relaxation just moments away! Wow, just WOW!

2806 E Tina Lane Gilbert, AZ 85298

$714,900
3 Beds
2 Baths
2,375 SqFt
Status Active
MLS # 6772750
Property Type Single Family Residence
Price Type --
ONE-OF-A-KIND RANCH HOME on a 1/3 ACRE CORNER LOT in the HEART OF GILBERT! This original owner home boasts a front living space with panoramic backyard views, a spacious kitchen/great room, with NEW APPLIANCES, 2 split bedrooms, and a large multipurpose room (perfect as a game room, home gym, 4th bedroom or convert to a THIRD CAR GARAGE. The primary suite is generously sized, and bathrooms have been recently updated. Small office off the entry! The huge side yards include an RV gate with tons of additional gated parking in the rear, and a gated pebble tec pool and SPA with a WATERFALL + artificial turf. Other side yard features lots of additional space and horseshoe pits. Just steps from Gilbert Regional Park, Shamrock Estates parks, and Chandler Traditional Academy. Don't miss this one!

15868 N 18th Place Phoenix, AZ 85022

$714,900
4 Beds
3 Baths
2,043 SqFt
Status Active
MLS # 6770685
Property Type Single Family Residence
Price Type --
Gorgeous home in great area! This home has been completely remodeled from the ground up plus a new addition of a master suite, extended dining area and a 2 car garage was completed this year to showcase this beautiful contemporary home. The completed project includes new plumbing, new electric, new roof, sprayed foam throughout, new drywall, paint, floors, windows, doors, fixtures, appliances and more. Close to schools, shopping, freeways and beautiful mountain views with hiking trails. Its a must see!

14713 W Black Gold Court Sun City West, AZ 85375

$714,900
3 Beds
2.5 Baths
2,642 SqFt
Status Active Under Contract
MLS # 6737041
Property Type Single Family Residence
Price Type --
Discover luxury living in the heart of Sun City West at the exclusive Fitzpatrick Ranch, the only small community development within Sun City West, which is not by Del Webb, features superior 2x6 construction. This spacious 2,687 sq ft home boasts 3 bedrooms plus office, high-end appointments and custom touches throughout, providing an unparalleled living experience. As you step inside, you will be greeted by 9ft ceilings and 8ft doors, enhancing the open and airy feel of this elegant home. The expansive great room, complete with a gas fireplace, invites relaxation and comfort. The home features plantation shutters in the great room, dining room, and office. Other rooms have wooden blinds and new luxury laminate flooring in all bedrooms, CLICK MORE complemented by porcelain tile in the main living areas. The gourmet kitchen is a chef's dream, featuring a large island with a prep sink, granite countertops, a 6 burner gas cooktop, a wall convection oven, a built-in microwave/convection, stainless steel appliances, an RO system, and a hot water system. The kitchen is adorned with cherry cabinets, including pull-outs in all bottom shelving, soft closing and upper cabinets with glass-encased doors. A spacious dining area completes this well-appointed space. The split floor plan offers a private Master suite with access to the back patio, a luxurious bath with a jetted tub, a large walk-in shower, a large closet with ample storage, double sinks, private toilet room with a bidet. Guest bedrooms share a Jack and Jill bath, with a separate shower and toilet rooms, with one bedroom offering direct access to the backyard. Easily turn the office into a fourth bedroom. Additional features include a split garage with a single garage on one side and a double garage on the other. The double garage is equipped with built-in attached cabinets for added storage, an upgraded electric panel, and a soft water system. This is an all Kohler home. A large laundry room adds convenience to daily chores and additional space for additional pantry storage. The private backyard sanctuary with a covered patio is perfect for outdoor entertaining or peaceful relaxation. The woman residents of this tight community experience monthly lunches & Pour at 4, and enjoy potlucks and block parties. Enjoy all the amenities Sun City West has to offer. Experience the perfect blend of luxury, comfort, and community in this exceptional Sun City West home.

10726 E Tillman Avenue Mesa, AZ 85212

$714,000
2 Beds
2 Baths
2,005 SqFt
Status Active
MLS # 6767264
Property Type Single Family Residence
Price Type --
Highly upgraded home on private oversized corner lot backing to greenbelt in desirable 55+ Encore at Eastmark. Over $150k in upgrades in this flowing floor plan of 2 bedrooms + Den/2 bathrooms with large open great room. Enter through the front gated courtyard with decorative custom iron security gate and enclosures complete with pavers and custom iron/glass front door. Open Den is perfect for an office, reading nook or even a 3rd bedroom. Formal dining room has many options. Gourmet kitchen is full of upgrades including GE Cafe Series appliances, large island with ''Chipped Ice'' Quartz counter tops/back splash and LED lighting under and above the cabinets. No lack of storage in this kitchen! Soft close cabinets and drawers throughout home. Great room has multi-sliding door which opens up into one pane to enter the backyard retreat. Enjoy the sparkling spa and professionally installed putting green while grilling and relaxing. Travertine patio and extensive pavers throughout. View fencing with no neighbors behind, to take in the beautiful Arizona evenings. Low voltage lighting in front/back enhances the property features and security. 8' interior doors and wood look 12x24 tile throughout the home, no carpet. Bathrooms feature quartz counter tops, LED front and backlit dimmable wall mirrors and anti-bacterial fans. Owners suite includes shower with tile surround, walk-in closet and large bedroom with bump out for perfect sitting area. Wi-fi smart thermostat has 3 separate zones, for perfect comfort. Walk-in closet in 2nd bedroom. Garage has top of the line epoxy floor, tankless water heater, stainless steel hand sink, and side entry door. Clubhouse has a vast amount of amenities such as Cafe, classes and activities, fitness center, community pool/spa and much more! Must see to appreciate!!

11223 N 40th Street Phoenix, AZ 85028

$714,000
3 Beds
3 Baths
1,988 SqFt
Status Active Under Contract
MLS # 6743157
Property Type Single Family Residence
Price Type --
Don't miss your chance to see this stunning, fully renovated 3-bedroom, 3-bathroom home with an office, a sparkling pool, and an exceptional outdoor entertainment area, all located near the highly sought-after Paradise Valley Mall. Cooking enthusiasts will fall in love with the chef's dream kitchen, complete with an induction cooktop and a full outdoor kitchen featuring a wood-fired pizza oven, two gas burners, and a propane grill. Imagine hosting poolside gatherings and inviting friends and neighbors to experience your outdoor oasis. Two expansive panoramic doors open fully, effortlessly blending indoor and outdoor living spaces to create a warm and inviting atmosphere. During the winter, relax in the cozy living room by the crackling fire that fills the room with a warm glow.

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