Epic Housing Shortage Being Reported

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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1653 S Navajo Way Chandler, AZ 85286

$698,500

4 Beds

3 Baths

2,321 SqFt

Status Active

MLS # 6748523

Property Type Single Family Residence

Price Type --

Beautiful, well cared for home located in a highly desired Chandler community, near Intel and just minutes away from 202 and 101 Highways. In district for Top Rated Chandler Unified School District schools. The home sits on HUGE lot (9,927sqft) & has newly refinished pool and deck (2017) w/ gorgeous waterfall, green grass, & trees to provide shade. Front yard has mature Chinese Elm tree that adds greenery & shade to the low maintenance, desert landscaped front yard. Inside is a upgraded split floor plan. Master bedroom has walk in closet, separate shower & tub, and dual sinks. Great sized bedrooms, one offering a convenient en suite. Tile throughout except carpet in bedrooms. Open floor plan, large kitchen with Island and granite tile countertops. MANY IMPROVEMENTS recently done. Pool Remodel with new pool filter, pool deck and additional concrete 2017, Window Shade screens 2018, New Carrier 16 SEER 5 ton A/C with new duct work and additional return 2018, b-Hyve Irrigation timer 2019, Replace DE Pool Filters 2021, New Garage Doors 2020, Exterior paint 2021, New Rheem hot water heater 2022, New dishwasher & microwave 2023, BRAND NEW ROOF (entire roof with transferrable 10 year warranty) 2024

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7041 W Knox Road Chandler, AZ 85226

$698,000

4 Beds

3 Baths

1,904 SqFt

Status Active

MLS # 6779188

Property Type Single Family Residence

Price Type --

Escape to your own private oasis in this stunning 4 bedroom, 3 bathroom home nestled on one of the largest lots in the gated community of Rhythm! This sprawling 5,100 sq ft haven offers the perfect blend of space and tranquility. Imagine entertaining friends and family in the spacious open-concept living area, complete with a gourmet kitchen featuring upgraded appliances, a breakfast bar, and ample counter space. Retreat to your luxurious master suite with a walk-in closet and a spa-like bathroom with a standalone shower and dual sinks. Enjoy peace and quiet throughout the home thanks to superior soundproofing with upgraded 6'' exterior walls. With brand new carpet and fresh paint, this home is move-in ready and waiting for you! Plus, you'll love the oversized two-car garage. There are many amazing community amenities, including a heated pool, basketball court, and a fully-equipped gym in the community center. All of this in a fantastic location near restaurants, shopping, I-10, and Loop 202. Don't miss out on this incredible opportunity to experience the Rhythm lifestyle!

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1448 N Overlook Drive Dewey, AZ 86327

$698,000

4 Beds

3 Baths

3,686 SqFt

Status Active

MLS # 6775131

Property Type Single Family Residence

Price Type --

Beautiful Custom Home in Prescott Country Club with Spectacular Views! Private Cul-de-Sac Location! 4BR/3BA/2 Car Garage, 3686 SqFt. Courtyard Garden with Walkway to Double Door Entry Leads to Light and Bright Great Room and Family Room w/High Ceilings, Skylight and Large Picture Windows with Amazing Views! Kitchen and Informal Dining Area Include Electric Cooktop, Induction Oven, Whirlpool Refrigerator, Corian Countertops and Access to Private Patio w/Trex Decking and Pergola Overhang. Primary BR/Bath Features High Ceilings, Lighted Ceiling Fan, Walk In Closet and Sliding Door w/Access to Private Patio. Lower Level Features In Law Suite Including One Bedroom, Kitchenette, Craft Room, Workshop and Large Open Area for Entertaining or Game Room. New A/C, Solar Owned.

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5745 N 13th Street Phoenix, AZ 85014

$698,000

4 Beds

2 Baths

1,860 SqFt

Status Active Under Contract

MLS # 6773346

Property Type Single Family Residence

Price Type --

This charming and cozy retreat is nestled in a vibrant neighborhood, walking distance to wonderful coffee shops, boutiques and restaurants. This home lives larger than expected with two spacious living rooms and an open kitchen. The expansive backyard is a serene oasis, perfect for a morning cup of coffee or a gathering with friends. AC Unit replaces in 2022 - Large Free standing shed included.

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5816 E Montara Place Mesa, AZ 85215

$698,000

3 Beds

2 Baths

1,913 SqFt

Status Active

MLS # 6750031

Property Type Single Family Residence

Price Type --

CURRENTLY UNDER CONSTRUCTION. Beautful new home underway. Spacious floor plan with an oversize 2 car garage with an extra golf kart garage. Stunning elevation. See pictures for more details.

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724 E Gemini Place Chandler, AZ 85249

$698,000

4 Beds

3 Baths

2,932 SqFt

Status Active

MLS # 6763157

Property Type Single Family Residence

Price Type --

Located near a golf course! SOLAR owned. Come see this gorgeous 4-bedroom, 3-bathroom home with a refreshing pool. Lots of curb appeal with a 3-car garage, mature landscaping, and a welcoming entrance into the home. Discover the inviting formal living room with an optional den/office space with beautiful tile flooring throughout the home. Check out the desirable great room designed for entertaining, enhanced with interior built-in shelves, and a beautiful gas fireplace for casual evenings with the family. The large kitchen includes a breakfast bar, granite counters, plenty of cabinetry, recessed lighting, SS appliances, double wall ovens, and a pantry closet. Don't forget about the dining area with great views of the pool. The main bedroom includes an ensuite bathroom, with dual sinks, a separate shower & tub, a vanity, and a walk-in closet. The remaining bedrooms are spacious with nice size closets. There are two additional hall bathrooms that are shared. Laundry inside with lots of storage. Washer & dryer will convey. Roof installed (2020). HVAC installed (2020). Water softener installed (2022). Water heater installed (2022). The backyard boosts of a covered patio, a fully fenced sparkling pool, a wood burning fireplace, a grassy area with a side yard. Make this gem your today!

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344 W Calle De Caballos -- Tempe, AZ 85284

$698,000

3 Beds

2 Baths

1,870 SqFt

Status Active Under Contract

MLS # 6752559

Property Type Single Family Residence

Price Type --

LOCATION, TEMPE, 1 LEVEL, UPDATED & MOVE-IN READY! Gorgeous HOME situated on a Corner N/S Exp. lot featuring 3 Beds, 2 Bths, DEN w/Barn Doors & Murphy Bed w/ Bookshelf, 3 CAR EXTENDED LENGTH GARAGE, RV GATE & POOL. Add'l features incl; Formal Living/Dining, Lrg. Open Concept Eat-in Kitchen/Family Rm. Kitchen Upgrades incl; 42'' White Cabinetry w/Quartz & Cambria Countertops, Custom Backsplash, Lrg. Island w/Custom Lighting, Stainless Steel Appliances and Cabinet Hardware. Additional upgrades incl; NEW ENERGY EFF. WINDOWS, NEW Interior Paint, New Carpet, 2.5'' Cordless Blinds, Wood Plank Tile, Upgraded Door Hardware, Fans, Lighting, Lrg. Baseboards, Spa like Custom Shower Surrounds & Frameless Glass Enclosure in Mstr., Ext. incl; Pool, Lrg. Covered Patio, & Grass area. Main Sewer Line replaced w/10year transferable warranty. The list goes on...Check document section for list of upgrades. 1% FREE RATE BUYDOWN FOR 1st 12 Mos. w/PREFERRED LENDER, CRAIG CUSICK, Fairway Mtg. Ask for more details.

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7674 W Tether Trail Peoria, AZ 85383

$697,990

3 Beds

2.5 Baths

2,197 SqFt

Status Active

MLS # 6747485

Property Type Single Family Residence

Price Type --

Welcome to Ashton Woods newest community in Peoria -The Sanctuary at Aloravita. This 2,197 Ruby floorplan features a Modern Desert style elevation and includes 3 bedrooms, 2.5 baths, a den, plus 4-car super garage. The impressive kitchen island is perfect for family and friends to gather as it opens to the home's great room for easy entertaining. The kitchen includes stainless steel appliances with a gas cooktop, large undermount sink, under cabinet hood, beautiful painted shaker style cabinets with crown molding, quartz countertops, kitchen backsplash, and large pantry. The great room offers a 4 panel center sliding glass door so you can step out into your covered patio to enjoy indoor/outdoor living in your backyard with friends and family. Other features include, 8' interior doors, 6x36 wood plank style floor tile, upgraded carpet/pad, a soft-water loop, and much more! For the car enthusiasts out there, this home includes 4-car super garage. Great location close to dining, freeways, parks, and entertainment!

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523 E Pasaro Drive Phoenix, AZ 85085

$697,890

3 Beds

2 Baths

1,758 SqFt

Status Active

MLS # 6700654

Property Type Single Family Residence

Price Type --

Nestled in the scenic landscape of North Phoenix, this inviting 3-bedroom, 2-bathroom home embodies modern comfort and desert charm. Beyond the gated entry, discover a sanctuary boasting upgraded appliances and a versatile den, ideal for work or relaxation. The heart of the home is a spacious living area, seamlessly flowing into a sleek kitchen adorned with top-tier amenities. Step outside to a private oasis, complete with a sparkling pool enveloped by low-maintenance turf, perfect for entertaining or basking in the sun. Embrace the tranquility of the Sonoran Desert from the comfort of your own backyard, with miles of hiking trails nearby, offering endless opportunities for outdoor adventures and breathtaking views. Experience a harmonious blend of luxury and nature in this desert haven, where every day feels like a retreat.

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42817 N 8th Street New River, AZ 85087

$697,779

3 Beds

2 Baths

2,200 SqFt

Status Active

MLS # 6686573

Property Type Single Family Residence

Price Type --

Huge Price Correction! Be the envy of all your friends as you live the life of luxury with Amazing views and a remodeled home. This beauty is situated on a serene hill with acreage & no surrounding neighbors allowing for privacy. Each room offers captivating panoramic views, creating a picturesque retreat. This open floor plan includes fresh paint inside & out, new tile flooring, new plush carpeting, new windows, newer roof & AC, and much more. NO HOA. Means freedom to personalize your outdoor space. Additionally, the 4 car garage & abundant driveway parking for 6+ vehicles provides ample room for all your toys including RV's & boats. Embrace the pinnacle of luxury in this extraordinary & unique home! Professional pictures cominfg soon.

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10535 E Lincoln Avenue Mesa, AZ 85212

$697,000

5 Beds

3 Baths

3,184 SqFt

Status Active

MLS # 6776622

Property Type Single Family Residence

Price Type --

Welcome to your dream home! With brand new carpet and fresh interior & exterior paint, this beautiful Eastmark home is ready for you! Featuring a 3 car garage, over 3000sqft, 5-beds and 3-baths this home boasts a spacious open-concept layout which makes it perfect for modern living. In the heart of this home is its stunning kitchen, featuring an gas cooktop, built-in microwave & oven, SS appliances, a large island w/pendant lighting and updated bar area. You'll love the functionality of the walk-in pantry, providing gracious amstorage space. Upstairs, you'll find the laundry, bedrooms with a jack and jill bath, and a large loft area that offers endless possibilities for use as a media room, home office, or play area. The spacious master bed is a retreat in itself, complete w/ an en-suit bathroom and his and her closets spaces. Retreat to your spacious backyard for ultimate relaxation. With a large covered patio, upgraded travertine tile and shaded pergola this outdoor space is perfect for relaxing after a long day or enjoying the Arizona sunsets.

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3131 N Central Avenue Unit 5012 Phoenix, AZ 85012

$696,772

2 Beds

2 Baths

1,419 SqFt

Status Active

MLS # 6614699

Property Type Apartment

Price Type --

*Construction Completed* 5% BUYER INCENTIVE! Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom plus den condo offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

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