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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18718 N Palacio Lane Surprise, AZ 85387

$685,000 - 2Br/3Ba -  for Sale in Sun City Grand Mission, Surprise
New
$685,000
2 Beds
2.5 Baths
2,483 SqFt
Status Active
MLS # 6784694
Property Type Single Family Residence
Price Type --
Nearly Double the lot size and PRIVACY PRIVACY!! OWNED SOLAR for SMALL power bills!!! Adult community of Sun City Grand Mission. Nestled on a Massive pie-shaped lot, it displays a desert landscape and a 2.5-car & golf cart garage w/cabinetry. Immaculately kept. Tons of natural light, tall ceilings, tile flooring in common areas, and wood-look floors in bedrooms. You'll LOVE the perfectly flowing living & dining room paired with surround sound, fireplace, & sliding doors merging the inside/outside activities! The gourmet kitchen has sleek French door SS oven, granite counters, a hanging pot rack, a double-door pantry, a center island, recessed lighting, a breakfast bar, and a cozy nook w/plantation shutters. The spacious main bedroom boasts a double-door entry, a sitting area w/bay window, & outdoor access. Its ensuite offers dual sinks, a separate tub/shower, & a walk-in closet. The secondary bedroom also includes its own private bathroom for added comfort. But the true highlight is the backyard oasis! Designed for year-round enjoyment, the space features an extended covered patio, built-in BBQ, fruit trees, and a sparkling pool w/waterfall & travertine decking. This gem simply has it all. See it! Love it! Live it!

2720 N Sterling -- Mesa, AZ 85207

$685,000
4 Beds
2 Baths
2,126 SqFt
Status Active Under Contract
MLS # 6759083
Property Type Single Family Residence
Price Type --
Welcome Home, where comfort meets modern elegance! This expansive 2,100+ sqft residence offers 3 bedrooms, 2 bathrooms, plus a versatile Den/Bonus Room, all set on a generous 9,100 sqft lot. The spacious master suite, located at the rear of the home, serves as a peaceful retreat, complete with an oversized master bath and an expansive walk-in closet. At the heart of the home lies the stunning kitchen, featuring a striking waterfall quartz island, quartz countertops, and upgraded raised-panel cabinetry—perfect for culinary creations and casual dining. Host formal gatherings in the elegant living room or relax in the Den/Bonus Room, both thoughtfully designed for entertaining. Step outside to your serene backyard oasis, highlighted by a crystal-clear PebbleTec pool and a jacuzzi with a soothing waterfall feature, creating the ultimate space for outdoor enjoyment. This home is a true gem, offering a blend of luxury and comfort that's perfect for both everyday living and hosting memorable moments.

2427 E Mcdowell Road Phoenix, AZ 85008

$685,000
3 Beds
2 Baths
1,561 SqFt
Status Active
MLS # 6696950
Property Type Single Family Residence
Price Type --
Looking for a Lucrative Investment Opportunity in Phoenix, AZ? Look No Further! This Stunning Property is Located at 2427 E McDowell Rd and is currently being used as a Home/Office that offers C-2 Commercial and R-3 Multiple Family Zoning with Road Frontage on Mcdowell Road. Key Features: Prime Location: Nestled in the heart of Phoenix, enjoy easy access to downtown, shopping centers, restaurants, and major highways. Rear lot of Property is Currently Leased for $600.00 Per Month for Storage. Unfinished Basement is a Bonus for Estimated 761 Sq Ft of Additional Storage. Property Has So Much Potential! 24th St and Mcdowell!

8533 W Desert Elm Lane Peoria, AZ 85383

$685,000
5 Beds
3.5 Baths
3,118 SqFt
Status Active
MLS # 6696966
Property Type Single Family Residence
Price Type --
Just reduced, priced to sell! Great house w/ an even better lot!!! This beautiful home sits on a very private corner lot so that you can enjoy the open space behind you from your very own resort like backyard. One of the few homes available that has a private casita (243sqft) for extended family or the occasional guest. This home has great flooring throughout, the eat in kitchen has granite counters, double ovens, built in wine rack, and large walk in pantry with additional storage under the stairs. The very spacious primary suite is conviently located on the main level. There is also a large loft that has been partitioned to create a 6th bedroom plus and has a balcony to enjoy the mountain views.. You don't see many 6 beds plus a loft in this price range. This home won't last!

2213 W Virgil Drive San Tan Valley, AZ 85144

$685,000
3 Beds
2 Baths
1,870 SqFt
Status Active
MLS # 6707507
Property Type Single Family Residence
Price Type --
Bordering the picturesque backdrop of San Tan State Park, this Arizona oasis offers a harmonious blend of luxury and natural beauty. Breathtaking views and sunsets can be seen unobstructed by other homes and properties not only from the spacious back patio, but also through the living room bay window and gourmet kitchen. The kitchen features an oversized island that opens to the living room and tall, warm wood cabinets complete with crown molding, soft close doors and drawers, topped with premium granite countertops. Sheltered beneath a steel 60 ft x 24 ft, 5 stall vehicle shade, your vehicles will find relief from the Arizona sun and can accommodate not only cars, but also trailers, equipment, horses or any other outdoor items. Buyer to verify all material facts and measurements. The garage is not just a storage space; it's a well-equipped workshop, featuring insulated walls, a dedicated mini-split system that provides 648 square feet of air-conditioned space, 220v DeWalt air compressor with metered compressed airline connections, and a 200-amp subpanel with multiple 220v outlets for heavy duty equipment. The main bedroom serves as a private retreat, with a convenient door leading to the back patio. While the main bathroom offers a spa-like experience with a walk-in shower with elegant tile work from floor to ceiling, a private lavatory and walk-in closet. The additional bedrooms are oversized which can easily accommodate a king-sized bed with plenty of space for other large furniture. The back patio can be accessed from the leaving room leading to fenced backyard with a spanning with ample space for outdoor activities and relaxation. Adjacent to it lies a generous fenced side yard complemented by a shaded chicken coop measuring 20 ft x 10 ft with 8 nesting boxes. This property is more than just a home; it's a sanctuary where luxury meets functionality and natural beauty.

324 W Willow Avenue Phoenix, AZ 85029

$685,000
4 Beds
2 Baths
2,581 SqFt
Status Active
MLS # 6709884
Property Type Single Family Residence
Price Type --
FRESHLY PAINTED, GORGEOUS 4 BEDROOM, 2 BATH, 2,581 SQFT RANCH IN HERITAGE HIGHLANDS SUBDIVISION. LOTS OF SPACE/LARGE MASTER SUITE, 2 SPARE BEDROOMS AND A 4TH BEDROOM WITH BUILT IN BOOKCASES THAT COULD BE USED AS AN OFFICE OR BEDROOM. VAULTED CEILING FAMILY ROOM WITH WOOD BURNING, STONE FIREPLACE. LIVING ROOM AND FORMAL DINING ROOM WITH BAY WINDOWS AND WINDOW SEAT. ENGINEERED HARDWOOD FLOORS. EAT IN KITCHEN WITH REFINISHED CABINETS, QUARTZ COUNTERTOPS AND HUGE WINDOW WITH EXPANSIVE VIEW OF BACKYARD AND POOL. PROFESSIONALLY LANDSCAPED FRONT AND BACK YARDS WITH PLENTY OF COVERED PATIO SPACE IN BACKYARD, GREAT FOR ENTERTAINING! DON'T FORGET THE GORGEOUS SWIMMING POOL WITH NEW TIMER, NEW FILTER AN NEW POOL CLEANER.

2126 W Red Fox Road Phoenix, AZ 85085

$685,000
3 Beds
3 Baths
2,198 SqFt
Status Active
MLS # 6737901
Property Type Single Family Residence
Price Type --
This home checks all the boxes! Single level, elegant finishes, ideal floor plan, and more. This home in Fireside at Norterra is open, bright, and feels like new. With three bedrooms and an office, you have room to spread out. Enjoy cooking in the open concept kitchen complete with a fabulous walk in pantry and butler's pantry area to prepare meals. Special updates: New HVAC in 2024 and new water heater in 2023. The community offers a clubhouse, gym with full facilities, pool, spa, rock climbing wall, basketball court, playground, hiking trails,and more. Take advantage of the resort style living in north Phoenix. Come by and make this your home today.

20928 W Wycliff Court Buckeye, AZ 85396

$685,000
4 Beds
4.5 Baths
3,258 SqFt
Status Active
MLS # 6743683
Property Type Single Family Residence
Price Type --
Look no further! This fantastic 4 bed, 4.5 bath residence now on the market is for you! Boasting great curb appeal, a low-care landscape, and a 3 car tandem garage! Inside you will find a sizeable living area and formal dining room w/graceful archways and soft carpet in all the right places. Continue into the cozy family room boasting plantation shutters and a custom palette. The luxurious kitchen is equipped w/everything the aspiring chef needs, staggered cabinetry w/crown moulding, a butler's pantry, granite counters, stainless steel appliances, recessed lighting, and an island complete w/a breakfast bar. The primary bedroom is a true retreat, boasting a walk-in closet and a full ensuite w/dual vanities & a garden tub. Don't forget about the cozy loft, ideal for an entertainment center. Finally, the wonderful backyard includes a covered patio, extended paver seating area, artificial turf, and a sparkling blue pool perfect for the warm summer days! What are you waiting for? Act now!

48031 N 7th Avenue New River, AZ 85087

$685,000
3 Beds
2.5 Baths
2,321 SqFt
Status Active
MLS # 6744689
Property Type Single Family Residence
Price Type --
Sante Fe Style Home with Mountain and Desert Views in New River, Arizona. This thoughtfully designed 3-bedroom plus office residence offers an inviting open floor plan. Nestled on a 1.25-acre lot, this property has views of the surrounding mountains and desert. As you step inside, you'll be greeted by natural light that highlights the living areas. The recently installed new shutters throughout the house allow you to control the amount of sunlight. The kitchen flows effortlessly into the dining room and family room. Outside, the 1.254 acre lot presents endless possibilities, including the potential to create your own horse property. The property is complemented by a 4-car garage.

2531 W Josselyn Drive Flagstaff, AZ 86001

$685,000
4 Beds
3 Baths
2,332 SqFt
Status Active
MLS # 6749986
Property Type Townhouse
Price Type --
Welcome to your retreat in the pines and escape the heat. This stunning 4-bedroom, 3-bathroom home is pristine with 2332 square feet of contemporary living space in a serene setting. Short term rentals are permitted in the neighborhood. Buyer to verify. The gas fireplace in the spacious living area creates a warm and inviting atmosphere. The heart of the home is the open kitchen with beautiful white cabinets and granite countertops, offering both functionality and style. Many upgrades including soft close cabinets, stainless steel appliances, and a walk in pantry make this an impressive entertaining space. One bedroom and full bathroom on the main level, with 3 more bedrooms and an expansive loft upstairs, offers ample space for the entire family and guests. The primary bedroom is a true sanctuary with a private balcony with breathtaking views of the Peaks. This home is immaculate and perfect for full-time living, seasonal escapes or short-term rentals. Nearby hiking trails, shopping, close proximity to NAU and all that Flagstaff offers.

10228 E Broadway Road Mesa, AZ 85208

$685,000
4 Beds
2.5 Baths
3,709 SqFt
Status Active
MLS # 6757280
Property Type Single Family Residence
Price Type --
Beautiful 4 bedroom 2 bath, semi-custom home in East Mesa. No HOA, great house for a big family multi-family possibilities, mature citrus trees, front yard was just done with synthetic grass. 2 bedroom 1 bath apartment or mother in-law suit,(it's not permitted,) Patio was enclosed to a extra family room with 740 SF. sparkling pool for the hot summers, huge lot with gazebo to entertain family and friends. Newly remodeled, new paint inside and out, new porcelain tile flooring no carpet. The master bedroom closets are beautiful, RV gate and more. Come and take a look, your clients won't be disappointed...PRICED Reduction!L...SHOW AND LEAVE A BUSINESS CARD......SELLER IS VERY MOTIVATED. ***$10k towards fencing for front of the home***

30 Calle Del Medio -- Sedona, AZ 86336

$685,000
3 Beds
3 Baths
1,736 SqFt
Status Active
MLS # 6759338
Property Type Townhouse
Price Type --
Property priced below appraised value-wow what a deal! Are you pining for a remodeled kitchen with soaring ceilings, Viking appliances, and solid quartz countertops? How about remodeled bathrooms? Perhaps new flooring, light fixtures and paint tickle your fancy? Maybe it's the front loader Bosch washer and dryer, high end whole house water filtration system, and tankless water heater that really bring it home for you? Big ticket items like new doors, windows, and window treatments are the bits that tend to catch my eye! Now for the real long lasting value in Sedona, the RED ROCK VIEWS... from the deck, to the living room, to the dining room and the kitchen, you are graced with stunning views of Sedona's iconic Thunder Mountain from the moment you walk in the front door. Upstairs living is separate from the downstairs 1 bed/1ba with it's own private entry: perfect for a teen, mother in law, or long term roommate to help offset your cost of living. Extra unfinished basement is perfect for storage. Furniture package available.

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