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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12405 N 53rd Drive Glendale, AZ 85304

$689,000 - 4Br/3Ba -  for Sale in Estates At Marshall Ranch, Glendale
New
$689,000
4 Beds
2.5 Baths
3,024 SqFt
Status Active
MLS # 6783846
Property Type Single Family Residence
Price Type --
Absolute charmer on a LARGE private corner lot (with no neighbors behind) in Glendale's popular community of Marshall Ranch! Close to great schools, shopping, events, and Cardinals Stadium, this 4 bed, 2.5 bath property boasts 3,000 sq. ft. of space. Even better? The master suite is downstairs! Light and bright with many windows and French doors. Soaring vaulted ceilings, hardwood floors, and a fireplace compliment the split floor plan! Entertain guests in a fantastic kitchen with upgraded stainless-steel appliances and island. Outside, brick walkways, grass, rose bushes, and trees adorn the LARGE 14,000 sq. ft. lot. Almost 1/3rdof an acre! Marshall Ranch is within minutes of historic Downtown Glendale.4 miles of trails connect multiple parks. Simply a terrific home and area to live!

3119 E Redwood Court Phoenix, AZ 85048

$689,000 - 4Br/3Ba -  for Sale in Lakeside 21 Amd, Phoenix
New
$689,000
4 Beds
3 Baths
2,528 SqFt
Status Active
MLS # 6783677
Property Type Single Family Residence
Price Type --
Step into this extraordinary and enchanting home, truly unlike any other, on the market in all of Ahwatukee. Tucked away on a private street with no neighbors behind. The warm and inviting front patio sets the stage. Upon entering you will be enamored by the stylish, modern mid-century vibe. The property features 4 bedrooms and 3 full baths. The thoughtful design is perfect for traditional family living, multi-generational households, as well as a rental income producing guest quarters with separate entrance! The eat in kitchen is ample in size and flows seamlessly to the formal dining and family room. Flooded with natural light and overlooking the inviting backyard. As you make your way upstairs you will find the primary bedroom- a peaceful retreat with a spa-like bath featuring dual sinks, a garden style tub, a walk-in shower, and a generous walk-in closet. Two other bedrooms share a full size bath just off the hallway. As you make your way back to the main living area, you will be amazed to see what is behind the door on the lower level. You will feel like you have just entered a swanky Palm Springs Resort. A separate living area boasting a warm and inviting flex space complete with cozy fireplace and equipped with a fully functional kitchenette! Your guests will enjoy a peaceful nights sleep in their comfortable bedroom that features a full bath. This guest quarters has its own entrance and exit along with a private patio where they too can enjoy the tranquil backyard. Speaking of tranquil backyard, this one is like a relaxing Zen garden. The feel of the lush grass beneath your feet or the sounds of the fountain in your ear. The sparkling pool and spa are fully automated and feature new pebble tec, along with a chiller system which heats and cools the pool allowing for year around swimming! This home has been lovingly cared for by only 2 owners in 32 years! In addition to the overall pride and care, take note of the fresh neutral interior paint, modern updated lighting, updated baths, an HVAC that was replaced in 2021, a water heater that was replaced in 2023, and refrigerator stays! You will love the location close to top ranked Kyrene schools along with Desert Vista High School. The proximity to 202 freeway, shopping, and dining are an added bonus. Opportunity is knocking...

131 E Jackshoe Trail Payson, AZ 85541

$689,000
4 Beds
3.5 Baths
3,000 SqFt
Status Active
MLS # 6629698
Property Type Single Family Residence
Price Type --
This piece of heaven is only minutes to Woods Canyon lake & the town of Payson. 1.5 hr from Mesa. Situated on an acre overlooking the Mogollon Rim & especially crafted to host family-friends + all rec toys ANY time of season. Ready to move in with ample space to entertain. This versatile floor plan boast all living on one floor w/ an additional walk out basement w/ a full bath & endless possibilities. Modern conveniences have been well thought-out including a lift, a brand new kitchen fridge, charming fireplaces in the great room & primary suite, heating/cooling system + vaulted ceilings with tongue & groove + wood beams & picture windows to take in the views. Large lot with separate garage , fire pit + quad storage, covered parking and much more. 3000 SF under roof + 1 acre of privacy!

22795 E Stacey Road Queen Creek, AZ 85142

$689,000
4 Beds
3.5 Baths
3,003 SqFt
Status Active
MLS # 6647162
Property Type Single Family Residence
Price Type --
This home is situated on a south facing home site, perfect for enjoying the outdoors! Boasting 4 bedrooms, 3.5 bathrooms, study, loft, and 3 car tandem garage! Build memories in the gourmet inspired kitchen, complimenting a wood hood, GE stainless steel appliances included with built in gas range, waterfall quartz island, and elegant tile backsplash. Enjoy the amenity rich community of Harvest, offering two swimming pools, catch and release fishing, walking trails, and more! Convenient location within Queen Creek, close to shopping and variety of new restaurants. Notice the difference in our engineering with 2x6 construction, 10 ft ceilings, large dual pane energy efficient windows, 8ft doors, and 5 ¼ baseboards. This incredible opportunity comes with an unmatched new home warranty!

5609 W Bullhead Road Eloy, AZ 85131

$689,000
2 Beds
2.5 Baths
2,215 SqFt
Status Active
MLS # 6674296
Property Type Single Family Residence
Price Type --
SELLERS ARE MOTIVATED! This newly built Miramonte home has many practical extras, including a four-foot extended two-car garage, a third garage with many cabinets, and a workbench. All three garages are insulated. Wholly owned solar for low utility bills. Plantation shutters throughout. There is more storage than average and a beautifully landscaped corner lot. The spacious and open floor plan is perfect for entertaining or just relaxing and doing nothing. The easy-maintenance kitchen has lots of cupboards and a large walk-in pantry. The backyard is truly an outdoor living space, fenced for privacy with a built-in gas natural gas stub for the BBQ for many enjoyable days and evenings enjoying the outdoors. Walking through the door, you will fall in love with this home.

26031 N Medelice Lane Rio Verde, AZ 85263

$689,000
3 Beds
2.5 Baths
2,479 SqFt
Status Active
MLS # 6686749
Property Type Single Family Residence
Price Type --
Location, Location, Location! Nestled in the heart of the beautiful Rio Verde active adult golf community, this custom territorial home is easy walking distance to the clubhouse for fine dining and meeting friends for pickle ball or golf The nearby community center offers a brand new workout facility, billiards room, and library. Enjoy meeting new friends at the Tennis, Bocce or Pickleball courts or go for a refreshing swim in the sparkling lap pool. This home is situated on an oversized lot providing ample privacy, Enjoy quiet evenings relaxing on your covered back patio with room to entertain large gatherings. This welcoming 3 bed/2.5 bath 2 car garage is being sold furnished. Enjoy premium Arizona living. Golf membership available, inquire with list agent or club.

22782 E Stacey Road Queen Creek, AZ 85142

$689,000
5 Beds
3.5 Baths
3,013 SqFt
Status Active
MLS # 6693700
Property Type Single Family Residence
Price Type --
Vibrant space & large windows make this 5 bed, 4 bath+ study and retreat home your dream home. The impressive gourmet kitchen provides the perfect environment for cooking & entertaining with oversize quartz island, shaker cabinets, designer-appointed tile backsplash & GE stainless appliances including 5 burner gas cooktop. Enjoy Arizona sunsets & weekend afternoons on covered patio with views from your family room through large energy efficient windows. Retire in style in the spa-like owner's retreat featuring a large walk-in closet, tiled walk in shower & upgraded quartz tops. Plank tile flooring, upgraded carpet and 8' doors throughout. EXTENSIVE NEW HOME WARRANTY. See you soon!

9336 W Running Deer Trail Peoria, AZ 85383

$689,000
4 Beds
2.5 Baths
2,878 SqFt
Status Active
MLS # 6742667
Property Type Single Family Residence
Price Type --
With 2878 sqft this home was completed in 2019 and boasts 3 spacious bedrooms, 2.5 luxurious bathrooms, and a versatile second primary closet that can easily be converted back to a 4th bedroom, flex space, teen room, hobby room, or playroom. The split floor plan offers privacy with secondary bedrooms sharing a Jack and Jill bathroom. This home exudes elegance. High-end finishes include custom cabinets, roll outs, wood-look tile, top-of-the-line appliances, 200 bottle wine fridge, whole home water filtration, video security system, plantation shutters, and much more. Extended glass slider opens to a stunning backyard which features a full-length covered patio, pavers, turf, fire pit and privacy hedge. THE SELLER IS WILLING TO NEGOTIATE THE CLOSET CONVERSION BACK TO BEDROOM 4

17234 N 28th Street Phoenix, AZ 85032

$689,000
2 Beds
2.5 Baths
1,600 SqFt
Status Active
MLS # 6769039
Property Type Single Family Residence
Price Type --
A true Gem. A One-of-a-kind home that makes you feel like you are living in a resort. You could use home for a vacation rental or Air B & B. Has fully landscaped yard, low maintenance, fruit trees, Swimming pool with 3 waterfalls and a large Baja. Tile floors and 10' ceilings throughout, lots of cabinets, fans, quartz countertops, 2-12' sliding walls overlooking the pool, SW facing backyard, underground power, large 3 car garage, garden boxes, lots of decking, upgrades throughout the home. 8' interior doors. Electric blinds for sliding walls. Window coverings for all windows. 5 upgraded fan lights, wine fridge. Two master bedrooms. Horseshoe pit and more. Pre-wired for tank-less water heater. Powerful wall speaker sound system. Interior and exterior 4-wall mounted TVs Very Private and security gate means no one will ever come knocking on your front door that was not invited. Total privacy you will love. Owner will sell furniture. Great house for entertaining in. Pool set up for volleyball with two shallow ends 3.5 to 5 Will sell turn key for Air B & B if desired. House features: List of amenities and upgrades. Quite Location, no overhead power lines to worry about. Copies of clean pest control report and building inspection available. Minor stuff on punch list. 1) Two Bedroom, 2.5 baths. 10' foot ceilings throughout 2) Tile floors throughout and tile in master shower and guest bath area. 3) Tile backsplash in kitchen and bathrooms 4) All walls 2x6 framing except west wall which is 2x8 framing to accommodate two 12' sliding walls/windows. 5) The two 12' sliding window doors are on the west wall overlooking the pool area and waterfalls. 6) Large kitchen island and substantial cabinets through out. 7) All quartz counter tops 8) Pre-wired for instant hot water inline heater. 9) Ground mounted, 4 ton heat pump electric 10) Five upgraded fan lights and lighting fixtures 11) Upgraded toilets 12) Fully insulated garage. 13) Three car garage has two bays with 8' tall doors with power door openers. 14) Quality Low-e windows. 15) Upgraded front entry door Therma-Tru door. 16) Pre-wired for stereo speakers inside and out on back deck with wall mounted 55 TV on back deck and quality wall Speakers installed by pool and powerful Bowers & Wilkins 5 star rated speakers in living area around 70 TV. Incredible sound for Stereo, TV and Movies. 17) Foundation has complete footings/slab. Large covered back deck 18) 14' by 28' in-ground swimming pool with three waterfalls and Baja. 19) ¼ acre level lot 20) Six citrus fruit trees. 2-Mandarin, 1- Grapefruit, 2-Orange, 1-Tangelo, 1 Plumb, 2 Nectarine, 1-Peach and 1 Pineapple Guava bush. 21) Block wall fencing around entire property 22) All underground city utilities, water, sewer and electric APS 23) Custom blinds all windows including remote controlled, $4,000.00 electric shades for sliding walls. Roll down shade blinds for patio. 24) 200 AMP main panel and 60 AMP Sub Panel for pool & hot tub. 25) Insulation R-19 walls and R-38 ceiling 26) Backyard has best, south and west exposure 27) Underground drainage pipes/system to, 2 detention ponds for storm run-off. 29) 240 sq. feet of brick pavers for extra patio area and driveway pavers to concrete slap for three cars. 30) Wine fridge installed. 31) No two story houses to block sunlight around pool area. 32) Pool safety fencing and gate stored in the garage 33) Built in desk area 34) Built in oven, microwave, dishwasher all electric 35) 40 gallon electric hot water heater. 36) Upgraded sinks and faucets. 37) Two garden boxes on east side of the home. 38) $7,000.00 entry security/privacy electric remote controlled gate, also keypad entry. 39) Fully landscaped low maintenance yard with quality landscape filter to prevent almost all weeds. 38) Drip watering system for fruit trees and garden boxes. 39) Two Ship Lap walls, one second master bedroom and one in family room area. There are two master bedrooms suites. 40) Water service in garage for garage fridge with ice maker. 41) Very secure location with 100% block wall and security gate. Total privacy and no one will ever be able to come knock on your door uninvited. 42) Nice friendly helpful neighbor. 43) Just shy ¼ acre level lot. 44) Will sell furnished or unfurnished or just some items. 45) Location is close to Hwy 51 and the 101. 46) 8' interior doors. 48) 7' by 7' Caldera Spa. New electronics.

7173 W Wethersfield Road Peoria, AZ 85381

$689,000
6 Beds
4 Baths
3,265 SqFt
Status Active Under Contract
MLS # 6765997
Property Type Single Family Residence
Price Type --
Fall in love with this stunning 6-bedroom gem! Greeted by a 3-car garage, cozy courtyard, and an RV gate, this home has it all. Inside, vaulted ceilings and tile floors create a welcoming atmosphere, while the spacious living/dining area is anchored by a cozy fireplace. Sleek kitchen features ample wood cabinetry, stainless steel appliances, wall ovens, granite counters, and a center island with a breakfast bar. Retreat to the main suite with backyard access and a private bathroom with dual sinks. The finished basement is perfect for entertaining with a wet bar, fireplace, and three additional bedrooms. There's even a separate guest suite with its own kitchen and a den perfect for an office. The expansive backyard offers a covered patio, gazebo, and room for a pool! Make it yours today!

3815 E Shaw Butte Drive Phoenix, AZ 85028

$689,000
3 Beds
2 Baths
1,600 SqFt
Status Active
MLS # 6774315
Property Type Single Family Residence
Price Type --
Rarely available Ralph Haver MCM home totally remodeled. Of course there is the modern kitchen with stainless and quartz counters and a beautiful master ensuite but look at this yard! You won't find a better one in this upcoming, coveted neighborhood that is Star of Paradise. Short walk to the bike/walking path along Stonebridge Golf Club and the newly built PV Mall with restaurants and entertainment galore. Attached 2 car garage, natural grass area and storage shed on one side of this double lot while the other side hosts an RV gate, pergola, and sparking brand new heated pool. The electrical cable has been buried so unlike most homes in this area, there are no unsightly power lines running in the yard. There is plenty of room for a casita or tiny house! Agent Owned.

8615 W Palo Verde Drive Glendale, AZ 85305

$689,000
3 Beds
2.5 Baths
2,725 SqFt
Status Active
MLS # 6782588
Property Type Single Family Residence
Price Type --
Welcome to this exquisite home in a prime location, just seconds from the Westgate, State Farm Stadium, Gila River Arena, and the freeway. With its stunning curb appeal and open floorplan adorned with wood plank tile flooring, this home exudes warmth and welcome. The kitchen is a chef's dream, boasting an abundance of cabinets, a large island, a gas stovetop, a wall oven, a single basin sink, under-cabinet outlets, and a generously sized pantry. The spacious primary suite is bathed in natural light, creating a serene and tranquil atmosphere. The ensuite bathroom features a dual vanity, an oversized shower, walk-in closet, combining elegance, comfort, and convenience. The moment you walk through the door, you'll be captivated by the sheer spaciousness and design of this home!

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