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.”

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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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2900 N Saddleback Way Unit 9 Flagstaff, AZ 86004

$689,000 - 2Br/3Ba -  for Sale in Saddleback Lodge Townhouses, Flagstaff
Open House
New
$689,000
2 Beds
2.5 Baths
1,905 SqFt
Status Active
MLS # 6782998
Property Type Townhouse
Price Type --
Welcome to one of the largest units in Saddleback Townhome! An ideal corner unit, situated perfectly for privacy. This home offers all the comfort with minimal maintenance. The front entrance welcomes you in to vaulted ceilings and an abundance of tall windows. The upgraded kitchen overlooks the dining and living room, making it a perfect space to relax and entertain. Cozy up by the gas fireplace for those cold winter nights. A half bath downstairs is perfect for guests while two full baths remain upstairs. Downstairs also offers a separate laundry room, an abundance of storage and a two car garage! Upstairs features an oversized loft that could be turned into a third bedroom. The primary bedrooms is spacious with an en-suite bathroom and a dual vanity The second room is oversized and offers a separate bathroom for guest privacy. Step out on the sweeping deck that has been expanded on for additional room and enjoyment. Surrounded by tall tress for privacy and views of the surrounding neighborhood, this space is all you could ask for. This home offers one of the best floor plans you will find in the subdivision. Just minutes from the Oakmont restaurant, golf course, tennis courts, pool and fitness center. If you are looking for country club lifestyle, with low maintenance this is it!

900 S Edith Drive Chandler, AZ 85225

$689,000 - 3Br/3Ba -  for Sale in Sirona, Chandler
Open House
New
$689,000
3 Beds
2.5 Baths
1,867 SqFt
Status Active
MLS # 6783779
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This beautifully upgraded 1,867 sq. ft. property is nestled on a private lot with a serene setting directly across from a lush park and no neighbors behind - offering peace, quiet, and privacy. Step inside to find an open floor plan that's perfect for modern living and entertaining, featuring a spacious great room filled with natural light. The gourmet kitchen boasts high-end granite counters and is a true chef's delight, flowing seamlessly into the living spaces. This home offers three comfortable bedrooms, a dedicated office for your work-from-home needs, and plenty of versatile space. Every detail has been thoughtfully designed for comfort and style. If you're looking for a beautiful, well-appointed home in an ideal location, this one checks checks all the boxes. Schedule your tour today and experience the charm and privacy for yourself!

22569 E Saddle Way Queen Creek, AZ 85142

$689,000 - 4Br/3Ba -  for Sale in Madera Phase 1a, Queen Creek
Open House
New
$689,000
4 Beds
2.5 Baths
3,260 SqFt
Status Active
MLS # 6782795
Property Type Single Family Residence
Price Type --
Welcome home to this spacious 3,260 sq ft two-story gem, nestled on a 7,015 sq ft lot with serene greenbelt views. Boasting four bedrooms and 2.5 bathrooms, this beautifully designed home offers both space and comfort. The open-concept kitchen is a chef's dream with a large walk-in pantry, perfect for all your storage needs, while the expansive formal dining room is ideal for entertaining. Gather around the cozy gas fireplace in the inviting living area or step out to the covered porches at the front and back to enjoy quiet mornings or evening relaxation. Upstairs, the split floor plan provides privacy, with a generous master suite featuring ample closet space. Plus, the community offers great amenities, including a pool and park, providing a wonderful lifestyle for your family. With no neighbors behind, you'll love the peace and tranquility of this home.

20416 E Bronco Drive Queen Creek, AZ 85142

$689,000 - 3Br/2Ba -  for Sale in Will Rogers Equestrian Ranch, Queen Creek
Open House
$689,000
3 Beds
2 Baths
2,205 SqFt
Status Active
MLS # 6757399
Property Type Single Family Residence
Price Type --
REDUCED! This is western living at its finest. Live in a charming neighborhood of custom homes & walk to the stables where you board your horse. Will Rogers Equestrian Ranch caters to horse enthusiasts, however, owning a horse is not a requirement to live here. There are other amenities to enjoy: the club house, sport courts, sparkling community pool, mountain views, & great walkability to shopping, dining & entertainment. This home on Bronco Dr is spectacular! So warm and welcoming w/ 3 bedrooms plus an office - could easily convert to bdrm , 2 bathrooms, updated kitchen, flooring, HVAC, fabulous yard w/ private pool, RV gate, room for a garden and a dog run with synthetic grass. Riding arena, scenic trails, even parking for your toys. There is so much to love about this home & community

22660 E Lords Way Queen Creek, AZ 85142

$688,990
3 Beds
2.5 Baths
2,504 SqFt
Status Active
MLS # 6776889
Property Type Single Family Residence
Price Type --
MOTIVATED SELLER! Welcome to this serene 3-bedroom home featuring custom flooring throughout. This chef's dream boasts a spacious gourmet kitchen with quartz countertops, a custom hood range, extended cabinetry, and a butler's pantry. An entertainer's delight, the home offers a cozy fireplace, motorized blinds, in-ceiling surround speakers, and prewiring throughout the home and patio. Enjoy breathtaking views of the Superstition Mountains from both inside and out. The primary suite is a true retreat, complete with a soaking tub, an oversized floor-to-ceiling tiled shower with a rain showerhead, and a stunning mirrored barn door. The 3-car tandem garage features a beautifully epoxied floor. Located in a newly built community, this home is a perfect investment! Make an offer today!

2719 E Sourwood Drive Gilbert, AZ 85298

$688,900
4 Beds
3 Baths
3,292 SqFt
Status Active
MLS # 6764852
Property Type Single Family Residence
Price Type --
This approximately 3200 square foot home features four bedrooms and three bathrooms. The spacious layout offers abundant natural light and a neutral color palette throughout, complemented by brand new carpet and tile flooring. The kitchen is equipped with ample cabinetry and modern appliances, providing a functional and inviting cooking space. The home boasts a tranquil setting, with a serene lakefront park and lush landscaping surrounding the spacious outdoor area. The extended covered patio and expansive yard create an ideal environment for relaxation and leisure, with mature shade trees enhancing the natural ambiance. The interior spaces include several generously-sized rooms, a loft, and den, each featuring ceiling fans to promote air circulation and comfort. The vibrant community and desirable neighborhood surrounding the property offer a serene and welcoming atmosphere, catering to a variety of lifestyle preferences. Easy freeway access and close to shopping, dining, and the new Gilbert Regional Park.

7120 E Kierland Boulevard Unit 316 Scottsdale, AZ 85254

$688,888
1 Bed
1 Bath
770 SqFt
Status Active
MLS # 6726806
Property Type Apartment
Price Type --
Indulge in the epitome of luxury living at 7120 Optima Kierland, where this stunning 1 bedroom, 1 bathroom condo offers a blend of sophistication and an array of world-class amenities. This residence is ideally situated near Scottsdale Quarter & Kierland Commons, providing easy access to premier dining, shopping, and entertainment options. Step inside to discover an open and airy living space with floor-to-ceiling windows, high end appliances, a stunning kitchen and beautiful bedroom. Residents can enjoy a fully equipped gym, locker rooms, business and conference rooms, and a party room with a kitchen for hosting gatherings. Entertainment options abound with a golf simulator, basketball and squash court, and a massage room for relaxation. The Sky Deck offers a resort-style experience with a pool, spa, additional BBQs, and fire pits. Constructed with post-tension concrete and dual-pane low-E glass, this condo ensures peace and quiet amidst the vibrant city ambiance. Secure underground parking. Whether you're seeking a permanent residence or a vacation retreat, the 7120 Optima Kierland building promises an unparalleled lifestyle.

18738 E Ryan Road Queen Creek, AZ 85142

$688,588
5 Beds
2.5 Baths
2,545 SqFt
Status Active
MLS # 6705379
Property Type Single Family Residence
Price Type --
Great open floor plan with north/south exposure and close to Power Rd, offers convenience and accessibility to shopping, freeways, and excellent schools. Stepps away from the community park and swimming pool. Granite, pantry, island, built in microwave opens to very large family room with additional bonus room beyond! 5th bedroom downstairs. Master Suite upstairs with walk in shower, separate tub and dual sinks with granite counters. Huge walk in closet. Second bath also boasts granite counters. This is truly a wonderful home for your family!

9564 E Spiral Avenue Mesa, AZ 85212

$688,000
4 Beds
3 Baths
2,374 SqFt
Status Active
MLS # 6772288
Property Type Single Family Residence
Price Type --
Nestled in the heart of the highly sought-after Eastmark community, this remarkable home is the epitome of luxury and charm. From the moment you arrive, you'll be captivated by its stunning curb appeal, featuring elegant stone accents, a beautifully paved driveway, and lush landscaping that welcomes you home. This home is designed for those who appreciate the finer details, with every corner offering a touch of sophistication and warmth. Step inside and be greeted by the grandeur of soaring ceilings adorned with gorgeous wood beams, setting the tone for the upscale finishes you'll find throughout. The upgraded wood-look tile flooring seamlessly flows through the main living areas, while cozy Berber carpet in the bedrooms offers the perfect balance of style and comfort. The attention to detail is evident with modern baseboards that add a polished finish to every room. The gourmet kitchen is truly the heart of this home with beautiful gray stacked cabinets providing ample storage, while the Quartz countertops and a striking white herringbone subway tile backsplash make the space feel fresh and modern. The single basin sink and chic pendant lighting elevate the kitchen's style, and the expansive island is perfect for entertaining or casual family meals. This space opens effortlessly to the light-filled living room, where a large double slider invites the outdoors in, making it the ideal spot for gatherings or simply relaxing. The 8ft interior doors throughout the home add a sense of grandeur and elegance to the already open and airy floor plan. Retreat to the massive primary suite, where natural light floods in, creating a tranquil escape. The spa-inspired bathroom is a masterpiece, featuring a stunning hexagon tile design, a luxurious separate soaking tub, and a large walk-in shower with a rainfall shower head that promises relaxation and indulgence. Walk-in closets in every bedroom ensure ample storage for all your needs, while the additional flex space is perfect for a home office, playroom, or creative studio. For those who love outdoor living, this home is primed for future entertaining, with a 220V outlet in the garage and gas pre-plumbing in the backyard, perfect for building your dream outdoor kitchen or entertainment space. Living in Eastmark offers a lifestyle like no other, with its resort-like amenities including a luxurious community pool, exciting splash pads, beautifully manicured parks, and the charming Steadfast Farm, where you can enjoy farm-fresh produce right in your neighborhood. The state-of-the-art clubhouse, The Mark, hosts a variety of year-round events and family-friendly activities, ensuring there's always something exciting to do. This home is not just a place to liveit's a place to thrive, surrounded by beauty, luxury, and a vibrant community. Don't miss this incredible opportunity to make this stunning property your own!

5534 W Tierra Buena Lane Glendale, AZ 85306

$687,000
6 Beds
3 Baths
2,908 SqFt
Status Active
MLS # 6765234
Property Type Single Family Residence
Price Type --
No HOA and Horses allowed. Large 6 bedroom ranch home with almost 3,000 sq ft. Large covered patio in the back yard. You will have to buy more toys to use all of the space available to you as the new owner. There is also great potential to use as a group home. Roof replaced 2017, HVAC updated 2021 and yes you can have horses! Professional pictures coming soon

2504 S Betty Street Gilbert, AZ 85295

$687,000
5 Beds
4 Baths
2,402 SqFt
Status Active
MLS # 6741043
Property Type Single Family Residence
Price Type --
Fantastic opportunity! Discover this charming residence, adorned with elegant stone accents and a meticulously maintained front yard. You're welcomed by a great room with high ceilings, a soothing palette, blinds for privacy, wood-look flooring, and a cozy fireplace. The kitchen features quartz counters, grey shaker cabinets with crown moulding, a subway tile backsplash, pendant/recessed lighting, SS appliances, a pantry, and an island with a breakfast bar. The loft offers a versatile space for an office or entertainment room. Retreat to the main bedroom, complete with plush carpeting, balcony access for refreshing outdoor moments, an ensuite with dual sinks, and a walk-in closet. The backyard boasts a covered patio, stylish pavers, and a putting green for golf enthusiasts. Casita/ Solar!

20262 W Hollyhock Street Buckeye, AZ 85396

$686,995
4 Beds
3.5 Baths
2,840 SqFt
Status Active
MLS # 6717221
Property Type Single Family Residence
Price Type --
Part of the Modern Living collection, The Darius provides a sophisticated and accommodating ranch-style layout. In addition to a lavish primary suite with a roomy walk-in closet and attached double-sink bath with an upgraded deluxe tile shower-this home includes a second primary suite with an adjacent living room, perfect for multi-generational living. You'll also enjoy a 3-car garage, a study, a great room with an adjacent covered patio-featuring multi-slider doors, two additional bedrooms that share a jack and jill bathroom, and an inviting gourmet kitchen with a generous island, built-in pantry, 42'' white cabinets with matte black pulls, quartz countertops, tile backsplash, GE Plus stainless-steel appliances with chimney hood and 36'' gas cooktop and an adjacent dining nook. This home has contemporary square casing throughout, 9 x 35 tile flooring with carpet only in the bedrooms, matte black hardware. lighting and faucet packages throughout, pendant lighting at the kitchen island, and a full wet bar with upper and base cabinets in the guest living room. In addition, 10 ft ceilings, two-tone paint, ceiling fan prewires in the bedrooms, great room, study and covered patio, soft water loop in the garage, laundry sink pre-plumb, garage service door, paver driveway and walkway, front yard landscaping and exterior coach lights are also included. This home is situated on an 8760 square foot lot with a double side gate.

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