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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44973 W Sandhill Road Maricopa, AZ 85139

$695,000
3 Beds
2.5 Baths
1,844 SqFt
Status Active
MLS # 6740557
Property Type Single Family Residence
Price Type --
This beautifully maintained three bedroom two and half bath home with a GORGOUS DESERT OASIS is surrounded by scenic views and walking paths. Lounging in your PRIVATE POOL your view is open to the expansive community green belt, while still offering private seclusion behind the lush landscape just beyond your property., with the neighborhood park just around the corner. Surrounded by all of this greenery, is your ULTRA LOW MAINTENANCE dessert landscaped retreat. Whether you are sitting around cooking up smores around the fire. Splashing around in your pool or enjoying a glass of wine in your SPA your entertainer's yard will truly be your indulging retreat. Walking into your home you can't help but take note of the impressive craftsmanship of the solid iron screen door as you walk in to the room filled with warm colors and beautiful flooring. The GREATROOM prewired with 7.1 surround sound has the perfect niche for your art or sculptures. The staggered cabinetry, GAS RANGE, and Corian counter-tops make this kitchen open and inviting. Upstairs, your loft is open and bright. Your large master bedroom is complemented by a large tub, separate shower, WALKIN CLOSET, and double sinks. Your spare bedrooms share views of the front yard. This home has everything you are looking for, fans in all the bedrooms, great room and loft, soft-water system, RO water system, EPOXIED GARAGE FLOOR, much much more. Upgrade: AC system, washer & Dryer had complete overhaul. All faucets been changed to Delta brand in bathrooms & kitchen. The entire 2nd floor including stairway been changed to hard planks water and scratch resistant. Bathroom commodes been changed to 17.5 height. 30 electrical solar panels been installed reduces electrical bill Tremendously in hot summer days.

5138 Pine Dawn Road Lakeside, AZ 85929

$695,000
3 Beds
2.5 Baths
2,608 SqFt
Status Active
MLS # 6751626
Property Type Single Family Residence
Price Type --
Bring your toys!! Ranch style home located in Scotts Pine Meadows on two lots, .59 acres. Beautifully landscaped home with a three car garage. This well cared for home has three bedrooms, two bathrooms, family and living room. The kitchen has a ceramic tile backsplash and countertops. Dining area can be part of the large family room with views of the backyard or off of the kitchen. A pass thru window makes serving to the family room easy and gives the kitchen a great view. The screen in patio leads to an outside patio. A 5' chain link fence encloses the back yard. On each side of the home is a drive thru gate. There is also RV parking with a sewer hookup.

15221 N Clubgate Drive Unit 1110 Scottsdale, AZ 85254

$695,000
2 Beds
2 Baths
1,401 SqFt
Status Active
MLS # 6754503
Property Type Apartment
Price Type --
Luxury 2BR/2BA condo - first-floor corner unit in the gated Kierland Greens community! Fully remodeled in late 2023: entire kitchen with upgraded cabinets, granite countertops, and brand-new appliances; both bathrooms with walk-in tile showers; luxury vinyl flooring; new HVAC and water heater. There is an attached, oversized 2-car garage, gas tile fireplace, and wood blinds. Easy to access - downstairs, near parking, and close to the pool. The community features a resort-style heated pool/spa, a workout room, BBQ grills, and a ramada with heaters & misters. You'll love the excellent location with excellent dining and shopping options; near the Kierland Golf Club, the Westin Hotel, Kierland Commons, and Scottsdale Quarter. Available for immediate move-in or as an investment property.

14344 W Alvarado Drive Goodyear, AZ 85395

$695,000
5 Beds
4 Baths
3,400 SqFt
Status Active
MLS # 6761951
Property Type Single Family Residence
Price Type --
Great home in Palm Valley awaits you. The primary bedroom is downstairs, and the detached casita is perfect for work from home. Close to Great Hearts/Trivium, Lifetime Fitness, and easy access to i-10. Spacious and well laid out, make this your home today. Loft, bedroom and bathroom upstairs, garage cabinets, pool, artificial turf in the backyard. Walking path to the west of the home so no neighbors directly to the west of you.

2210 E Everett Drive Phoenix, AZ 85022

$695,000
4 Beds
3 Baths
2,451 SqFt
Status Active
MLS # 6765491
Property Type Single Family Residence
Price Type --
Welcome home to this charming two-story home completely remodeled. As you walk into this 4-bedroom, 2.75 bathroom you immediately see the beautiful new flooring, windows, freshly painted walls, and fixtures. The first floor features a kitchen updated with new cabinets, countertops, stainless steel appliances, white backsplash and tons of natural light. There is two bedrooms, a master ensuite completely remodeled with a shower and a fully updated guest bath downstairs. Up the remolded staircase leads you to a master suite with bathroom dreams are made of. A brand-new vanity, a separate shower and soaking tub, a large walk-in closet and balcony overlooking your backyard. The backyard has a patio with fans, leading you out to your large diving pool and spa both heated for year-round use.

20618 W Elliot Road Buckeye, AZ 85326

$695,000
4 Beds
3 Baths
2,368 SqFt
Status Active
MLS # 6767371
Property Type Single Family Residence
Price Type --
Be excited to see this newly built single-level residence in Buckeye with 2x6 construction! Step inside to discover the allure of the captivating open floor plan enhanced with 10ft plus ceilings and soothing paint tones complemented by wood-style flooring. The impeccable kitchen is outfitted with sleek stainless steel appliances, quartz counters, recessed and chic light fixtures, a plethora of white cabinetry with crown molding, and a sizable island with a breakfast bar. This gem provides well-appointed bedrooms, including two main retreats with plush carpeting, pristine ensuites, and walk-in closets. The home's elegance extends outdoors to the vast backyard with a covered patio, excellent for relaxation. The property is equipped with AC units that are upgraded to Trane Units. Very close to the proposed Goodyear's master planned community of Estrella, highway I-10, schools, shopping center, and the Goodyear Airport. It has lots of potential.

8216 E Del Cuarzo Drive Scottsdale, AZ 85258

$695,000
2 Beds
2 Baths
1,737 SqFt
Status Active
MLS # 6776952
Property Type Single Family Residence
Price Type --
OPPORTUNITY KNOCKS!! Your chance to remodel this 1 level home w/ a 2 car garage in the heart of highly desired McCormick Ranch. Enjoy the signature green lush grass/mature tree look that defines the very essence of beautiful McCormick Ranch! This 2 bedroom/2 bath 1 level patio home features a spacious great room that opens to lovely dining room & bright, light & airy kitchen w/ nook. Additionally, the great room opens to a lovely private back patio for incredible AZ outdoor living! Spacious primary bedroom also opens to the private back patio for additional access to your lovely private outdoor living space! There is a 2nd bedroom w/ a bathroom (that serves as the powder room too). Heritage Village 3 enclave features tennis courts, 2 swimming pools & lots of green grassy common areas!

650 E Silver Creek Road Gilbert, AZ 85296

$695,000
3 Beds
2 Baths
2,012 SqFt
Status Active
MLS # 6782090
Property Type Single Family Residence
Price Type --
WOW! A BEAUTIFULLY remodeled home near the COVETED downtown Gilbert Food & Entertainment District is waiting for you! *Every inch of this OPEN & BRIGHT single level has been UPDATED w/ tasteful, trend forward finishes including the GOURMET kitchen & LUXURIOUS baths. *The SPLIT floor plan is super functional & includes a 2-way fireplace separating the great room from the living room adding CHARM & WARMTH. *The RESORT-style backyard has a REFRESHING, newer 2020 lap pool & a SPORTY putting green for those golf enthusiasts. *This home is PERFECT for entertaining or gathering family members from the COZY front porch to the INVITING back patio & everywhere in between. *Hurry! This TURN-KEY, low maintenance property in the Gilbert School Dist is nestled under a NEWER roof (2023) and won't last!

1113 W Wagner Drive Gilbert, AZ 85233

$695,000
3 Beds
2 Baths
2,043 SqFt
Status Active
MLS # 6782308
Property Type Single Family Residence
Price Type --
Tons of CHARACTER and love awaits you as you arrive at this beautiful home! Located on one of the largest lots in the entire subdivision - 1/3 acre!! Indoor/outdoor living abounds with multiple sitting areas to enjoy the backyard and pool! So many special features make this a truly perfect entertainers dream home!! This home almost feels like you are living in a trendy Arcadia-like home, but with all the suburban living conveniences and conveniently located in the Islands in Gilbert! Vaulted ceilings! Many updates and upgrades throughout! There is a casita that is currently being used as an exercise room, but it would also make an excellent office or kids special playhouse, and plenty of room to expand it in size (add bed/bath/kit etc). Open concept throughout! Located on a quite cul-de-sac. Updated bathrooms, kitchen, pool, roof, flooring, casita and more! 9 impressive palm trees add to the character of this home! Huge backyard and side yards. Plenty of room to expand the casita and more! There are plenty of track homes, but this home is Unique on many levels and once it's gone there isn't anything even close!! Don't miss this RARE Opportunity!! More photos and information will be uploaded in the upcoming days!

5742 N 18th Place Phoenix, AZ 85016

$695,000
3 Beds
2 Baths
1,440 SqFt
Status Active Under Contract
MLS # 6782020
Property Type Single Family Residence
Price Type --
Welcome to this lovely, move-in ready 1,440 square foot red brick home nestled in one of the most desirable neighborhoods in Central Phoenix. With 3 spacious bedrooms and 2 beautifully appointed bathrooms, this home has been thoughtfully updated and impeccably maintained. The kitchen shines with modern upgrades, perfect for meal prep and entertaining, while the hall bath has also been stylishly refreshed and expanded. The exterior boasts a well-kept yard surrounded by lush privacy hedges to the west that provide substantial shade, offering a peaceful outdoor retreat. The backyard also has a large back patio and separate garden area with a large covered sitting area. A 150 square foot (not included in listing square footage) fully functional game room/office space with a large loft sits next to the backyard garden area. It provides extra space for and office, game room, she-shed, or guest quarters, adding both convenience and versatility. Don't miss this gem, come see today!

1406 E Ellis Drive Tempe, AZ 85282

$695,000
4 Beds
3 Baths
2,301 SqFt
Status Active Under Contract
MLS # 6754437
Property Type Single Family Residence
Price Type --
The property features a versatile mother-in-law suite or attached rental unit, ideal for extended family or generating rental income. This separate kitchenette living space includes a zero entry shower, w/d hookups. Indulge in relaxation with a luxurious private outdoor soaking tub and dual shower area, offering a serene escape right in your own backyard, The outdoor kitchen and bar provides an ideal setting for entertaining. Year round gatherings are comfortable under the covered patio outfitted with a high pressure misting system. Enjoy the Big Game from 3 large screen TVs, or have quiet conversations in front of the fireplace.

310 S 4th Street Unit 1905 Phoenix, AZ 85004

$695,000
2 Beds
2.5 Baths
1,435 SqFt
Status Active
MLS # 6706728
Property Type Apartment
Price Type --
Location is everything and this unit has perfect city views as well as amazing sun set views. Great location in the city as it's nestled between the Phoenix Suns and AZ Diamondbacks venues. Restaurants, easy light rail access, theatre's and symphony's are all around. Popular Open Floor plan. This unit was recently completely remodeled with high end finishes. Murphy bed at Guest/Office room. Lift parking space allows for two vehicles. This unit also has an extra large balcony. Located on the 19th floor of this 23 floor building, it's really one of a kind. 24 Hour Lobby Security/Attendant. Fitness Center, Outdoor pool and hot tub overlooks Diamondback stadium. Don't let this one get away.

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