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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33337 N Maverick Mountain Trail San Tan Valley, AZ 85144

$684,369
4 Beds
3 Baths
3,124 SqFt
Status Active
MLS # 6775177
Property Type Single Family Residence
Price Type --
Elegant new, Spanish-style home featuring 4-bedrooms, 3-bathrooms, a game room, an attached 3-car garage, and designer selections throughout! The kitchen boasts Gourmet appliance including a gas cooktop, extended kitchen cabinet, quartz countertops, and matching quartz kitchen back splash. Other upgrades include maple rye cabinets with 42'' uppers, 12 x 24 tile, upgraded carpet, and a roomy frameless walk-in shower with a rain can shower head. The exterior of the home boasts a covered patio with a gas line for a future BBQ and pavers at the driveway, walkway, and courtyard.

5827 E Rose Garden Lane Phoenix, AZ 85054

$684,245 - 3Br/3Ba -  for Sale in Talinn Phase 3, Phoenix
Open House
$684,245
3 Beds
2.5 Baths
1,962 SqFt
Status Active
MLS # 6781904
Property Type Townhouse
Price Type --
This quick move-in home is disappearing faster than your phone battery at 2%! With 1,900+ sq. ft., 3 beds, 2.5 baths, and a loft, it's got all the space you need—and then some. White quartz countertops, grey cabinets, and wood-like tile so nice, you'll want to take selfies with your floors. Smart home features, 9-foot ceilings, and no neighbors behind you mean all the privacy, none of the noise. Plus, washer, dryer, fridge, and backyard landscaping are included—basically, we've done all the work for you! Located next to City North, Desert Ridge, and just minutes from the 101, this home is going, going... gone if you don't act fast!

2500 Pine Wood Ln -- Pinetop, AZ 85935

$684,000
3 Beds
2 Baths
1,952 SqFt
Status Active
MLS # 6782471
Property Type Single Family Residence
Price Type --
Escape to the serene beauty of the White Mountains in your own Pinetop Cabin, truly nestled among tall pines and mature oaks. Your journey begins with a one-of-a-kind bridge entrance that welcomes you into this private haven. Your fully furnished retreat features 3 bedrooms and 2 baths, perfect for family getaways or entertaining friends. Step inside to discover the warmth of genuine wood flooring and the stunning tongue-and-groove vaulted ceiling that creates an inviting atmosphere. Enjoy the fresh mountain air from the covered back deck or the charming front porch, both ideal spots for sipping coffee or unwinding after a day of adventure With new stainless steel appliances in the kitchen, you'll have everything you need to prepare delicious meals after a day spent exploring

1075 E Shangri La Road Phoenix, AZ 85020

$684,000
3 Beds
3 Baths
2,344 SqFt
Status Active
MLS # 6692262
Property Type Single Family Residence
Price Type --
OWNERS HAVE OWNED HOME FOR ALMOST 30 YEARS AND THIS WAS THEIR VACATION HOME, 3-4 MONTHS A YEAR, LIGHTLY LIVED IN, BEAUTIFUL VIEWS AND GORGEOUS EXTERIOR, HOME IS LUSH WITH LANDSCAPING AND HEATED POOL/SPA, THREE BEDROOMS AND DOWNSTAIRS DEN/OFFICE, MASTER SUITE UPSTAIRS WITH LARGE WALK IN CLOSET AND LARGE BALCONY OVERLOOKING THE BEAUTIFUL BACKYARD, SEP SHOWER AND TUB, ONE OTHER BEDROOM UPSTAIRS AND ONE BEDROOM DOWNSTAIRS, VERY HIGH CEILINGS IN ENTRY, FORMAL LIVING AND DINING ROOM, LARGE EAT IN KITCHEN WITH GRANITE AND VIEWS TO THE FAMILY ROOM WHICH HAS A FULL WALL FIREPLACE AND TV ON MANTLE, TWO CAR GARAGE, GEORGEOUS CURB APPEAL,

1326 N Central Avenue Unit 404 Phoenix, AZ 85004

$684,000
1 Bed
2 Baths
1,491 SqFt
Status Active
MLS # 6748645
Property Type Apartment
Price Type --
Step into the heart of downtown Phoenix and discover this sleek and sophisticated loft! With its open layout and soaring ceilings, this modern architectural gem is the epitome of urban chic. Enjoy surrounding views of the city skyline and mountain ranges from your private rooftop terrace! This is the perfect opportunity to own a piece of downtown Phoenix's vibrant energy! Amenities include Secured entrance with personalized access. Gated Parking, Community Pool/Gym. Private Rooftop. Open Floor Plan. Move in ready or upgrade to your dream loft!

35925 N 30th Drive Phoenix, AZ 85086

$683,995
4 Beds
2 Baths
2,350 SqFt
Status Active
MLS # 6754194
Property Type Single Family Residence
Price Type --
Experience luxury living in this newly remodeled home featuring brand-new cabinets, state-of-the-art appliances, and elegant countertops. The remodeled bathrooms offer a spa-like retreat, while the spacious 3-car garage provides ample storage. Enjoy the benefits of a water softener and relax in the sparkling pool or chip & putt with your private putting green. Nestled in a prime Phoenix location, you'll have easy access to top-rated schools, shopping, dining, and entertainment.

4531 E Aspen Way Gilbert, AZ 85234

$683,000
4 Beds
3 Baths
3,746 SqFt
Status Active
MLS # 6669518
Property Type Single Family Residence
Price Type --
Welcome to this spacious 5-bed, 3-bath home w/ 1 bedroom & full bath downstairs! This house features HUGE bedrooms, extra closets & storage, oversized 3-car garage, large laundry room with utility sink & storage cabinets, new stove top, stainless steel appliances, walk-in pantry, tile & ceiling fans throughout. Cozy up on cooler evenings by 1 of the 3 gas fireplaces. The backyard features a sparkling pool, built-in BBQ, fireplace, extended covered patio & dog run. The primary bedroom is a true retreat, with 2 walk-in closets, fireplace & a bathroom with a separate soaking tub, walk-in shower, & double sinks. Enjoy the luxury of space & organization with tons of storage options throughout the home. The remaining bedrooms are generously sized with huge closets.

1114 W Meseto Avenue Mesa, AZ 85210

$683,000
4 Beds
2 Baths
2,408 SqFt
Status Active
MLS # 6693275
Property Type Single Family Residence
Price Type --
Premium location! New water heater 2024. Beautiful Pool! 3 car garage, 2408 Sqft, 4 Bed 2 bath in a prime location! This energy efficient 4 bedroom home! Lovely façade, mature landscape, and gated courtyard. Enter through the custom double doors to a welcoming living room, formal dining room, and a large family room complemented by a floor to ceiling brick fireplace. Inviting foyer, archways, tile and carpet flooring, plantation shutters, designer paint, and vaulted ceilings are beautiful attributes. The kitchen provides stainless steel appliances, granite counters, a bay window, plenty of cabinets and cupboards with crown molding, and a peninsula that adds to the counter space. Bright main retreat will impress you with outdoor access, a private ensuite with upgraded shower! Continue onto the wonderful backyard featuring a covered patio, pergola, storage shed, and a refreshing pool perfect for warm summer days. This beauty is the one you're looking for!

6002 W Park View Lane Glendale, AZ 85310

$683,000
4 Beds
3 Baths
3,393 SqFt
Status Active
MLS # 6699818
Property Type Single Family Residence
Price Type --
Motivated Sellers!! Spacious, Well Maintained Home in Gated N Glendale Community. This 4 Bed, 3 Full Bath Home with Loft and 3-Car Garage is Bright and Open with Private Pool on Corner Lot. Downstairs guest bedroom has adjacent full bath and Primary suite has enormous closet and large adjacent loft-perfect for playroom or home office. Bright, open kitchen has granite countertops, tons of storage and honey-toned wood cabinetry, features a gas range, stainless appliances and walk-in pantry and family room includes cozy gas fireplace. Charming, tranquil neighborhood has mature trees, green belts, parks, walking paths and gorgeous mountain vistas. Walking distance to Las Brisas Elementary, quick access to I17 and 101 freeways, TSMC and the vibrant N. Phoenix district.

20253 W Hollyhock Street Buckeye, AZ 85396

$682,995
4 Beds
3.5 Baths
2,840 SqFt
Status Active
MLS # 6717566
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-slide 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 brushed nickel 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 9 x 35 tile flooring with carpet only in the bedrooms, brushed nickel 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 a 9070 square foot, North facing corner lot with a double side gate.

23058 E Mayberrry Road Queen Creek, AZ 85142

$682,264
6 Beds
4 Baths
2,809 SqFt
Status Active
MLS # 6707596
Property Type Single Family Residence
Price Type --
GREAT ROOM LOFT PLAN WITH MAIN BEDROOM DOWN, 6-BEDROOM, BEAUTIFUL FINISHES! SPA SHOWER IN MAIN, WHITE CABINETS, GRANITE KITCHEN TOPS W/ TILE BACKSPLASH,, GOURMET KITCHEN LAYOUT, UPGRADED CABINETS, UPGRADED VANITIES IN BATHS,, PLANK TILE FLOORING EVERYWHERE, EXCEPT 1 BEDROOM DOWN AND LOFT. ALL THIS, IN THE NEW PREMIER MASTER PLAN COMMUNITY, IN QUEEN CREEK, FEATURING A 22 ACRE LAKE. THIS IS THE CENTERPIECE OF THE COMMUNITY. KAYAKING AND CANOEING, AQUATIC CENTER WITH LAP AND SPORT POOL SPLASH PAD, BOCCE BALL, PICKLE BALL, BOARDWALKS AND RAMADAS THROUGHOUT AND MUCH MORE.. THE HOME INCULDES 2'' FAUX WOOD BLINDS, CEILING FANS, TANKLESS WATER HEATER+++ KATHERINE MECHAM BARNEY SCHOOL IN THE COMMUNITY.

4799 W Flat Iron Court San Tan Valley, AZ 85144

$682,243
4 Beds
3 Baths
2,837 SqFt
Status Active
MLS # 6775191
Property Type Single Family Residence
Price Type --
Exceptional new home in the desirable community of Sentinel at Oro. Single-story ranch-style property boasting upgrades and designer selections throughout. The exterior of the home boasts pavers at the driveway and front porch, north/south sun exposure, and a covered patio with a gas line set up for a future BBQ. The interior of the home is loaded with highlights including a elegant kitchen with Gourmet appliances, a gas cooktop, a Bianco diamond sink, quartz countertops, matching quartz back splash, and a multi-panel sliding glass door. Other features include maple rye cabinets with 42'' uppers, 12 x 24 tile throughout, upgraded carpet at the bedrooms, and a separate tub/shower enlarged tub.

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