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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35202 N 30th Drive Phoenix, AZ 85086

$680,000
6 Beds
3.5 Baths
3,936 SqFt
Status Active
MLS # 6764623
Property Type Single Family Residence
Price Type --
Discover this expansive 3,936 sq ft residence designed for MULTIGENERATIONAL living. This home offers both privacy and shared spaces, including a den, formal living room and an inviting great room perfect for gatherings. Large open kitchen with breakfast bar, granite counters and stainless-steel appliances. Spacious downstairs primary bedroom with en suite bath includes luxury vinyl wood plank flooring, 2 separate vanities, soaking tub, walk-in shower and separate exit to patio. Upstairs includes small loft area, 3 bedrooms and bath AND 2nd primary bedroom, 8x10 walk-in closet, dry bar, bathroom and another bedroom. 3 car tandem garage. Tankless gas hot water heater. Tree covered backyard is cool retreat to enjoy year-round. Enjoy mountain views, hiking trails, parks and shopping nearby.

3525 E Cambridge Avenue Phoenix, AZ 85008

$680,000
5 Beds
3 Baths
2,073 SqFt
Status Active
MLS # 6764534
Property Type Single Family Residence
Price Type --
AMAIZING PROPERTY WITH A GUEST HOUSE!!!!!!Main house has 3 bedrooms & 2 bathrooms, alongside a separate guest house boasting 2 bedrooms and 1 bathroom. Each enjoys its own private driveway, ensuring privacy and convenience. The main home welcomes you with spacious living areas, including a cozy living room, a well designed kitchen with modern amenities, and a dining area perfect for gatherings. The guest house mirrors the main house's charm, with its own living space, kitchen facilities, and comfortable bedrooms, offering versatility for guests, extended family. Close to amenities, shopping, and dining options, this property offers both convenience and comfort. Whether you're looking for a spacious family home with additional accommodation or an investment opportunity this is The One.

11729 N 93rd Street Scottsdale, AZ 85260

$680,000
3 Beds
2 Baths
1,484 SqFt
Status Active
MLS # 6768442
Property Type Townhouse
Price Type --
Best price/sqft unit in the neighborhood with spacious low maintenance yard in an amazing location! The beautifully remodeled kitchen has custom cabinets, quartz counters, tiled wood-like flooring, new SS appliances, soaring ceilings and fireplace. Eat in the dining area or breakfast bar. Bathrooms have been tastefully remodeled and have step in showers. French doors lead out to the private backyard with covered patios and new turf. Other updates include new Anderson windows throughout, HVAC, new Roof, Patio Awning, Air Scrubber, Epoxy garage Floor, and more! Great location near shopping, restaurants and the 101.

1745 N 133rd Drive Goodyear, AZ 85395

$680,000
3 Beds
2 Baths
2,712 SqFt
Status Active
MLS # 6773121
Property Type Single Family Residence
Price Type --
This stunning and spacious 3 BR/2 BA bath 2712 SF single level TW Lewis floor plan boasts an oversized lot, 3 car garage and pre-paid leased solar! All of this in the conveniently located Palm Valley golf community. From the moment you arrive, you'll be captivated by charming curb appeal featuring stone accents, a meticulously maintained desert landscape, and a spacious 3-car garage. Step inside & experience luxury living at its finest. The grand formal dining room flows effortlessly into the inviting living area, anchored by a striking stone fireplace, perfect for cozy nights in. High 10' ceilings, crown molding and plantation shutters. Backyard is perfect for entertaining and year round enjoyment with heated pebbletec pool & spa, extensive travertine, fireplace, firepit and built in BBQ The chef's kitchen is a true masterpiece, offering abundant wood cabinetry, stunning tile counters and backsplash, built-in appliances, and chic pendant lighting. The peninsula, complete with a breakfast bar, makes it the ideal space for casual meals or entertaining guests. Step outside to your private backyard oasis, where relaxation and outdoor living come together. The expansive covered patio provides the perfect setting for al fresco dining or simply enjoying your morning coffee. The beautifully landscaped backyard features low-maintenance desert plants and plenty of space for entertaining. Whether you're hosting a BBQ or unwinding after a long day, this backyard offers endless possibilities for creating your own personal paradise. With room for a pool or garden, the outdoor space is as versatile as it is charmingperfect for enjoying the Arizona sunshine year-round. This home is a rare find, combining energy efficiency with style and comfort in a prime location. Don't miss out!

1401 N 40th Drive Show Low, AZ 85901

$680,000
3 Beds
2 Baths
2,274 SqFt
Status Active
MLS # 6774774
Property Type Single Family Residence
Price Type --
This well-kept, classic, Country Club Manor home is one you aren't going to want to miss. The welcoming landscaping with mature Aspen Trees allow you to feel like you are in the heart of the forest. The abundant mature pines and lush green lawn make this home stand out in the sought after Country Club Manor neighborhood (no HOA). The spacious front deck offers the perfect spot to enjoy watching the amazing mountain sunsets. Entering the great room, you will see the bright and airy tall ceiling which make the room feel grand and yet comfortable and cozy. The eat in kitchen features an island and large open space for dining. French doors lead out to the large covered back deck. The lot is approximately .44/acre which provides plenty of space for entertaining, family gatherings or relaxing on a cool summer evening. Back inside you will find 4 nice sized bedrooms, large mud room and laundry room, ample storage and an oversized 2 car garage. Located just minutes from downtown Show Low, you are in close proximity to shopping and schools. Additionally, Show Low is known for its beautiful Fool Hollow Lake which is a short 5-minute drive away. Hiking and biking trails throughout the National Forest are surrounding the entire White Mountains and the Bison Golf course sits adjacent to this community.

16042 W Shaw Butte Drive Surprise, AZ 85379

$680,000
4 Beds
3.5 Baths
2,827 SqFt
Status Active
MLS # 6777953
Property Type Single Family Residence
Price Type --
Discover modern farmhouse charm in this 2019 Greer Ranch home. This single-level, ranch-style residence showcases refined upgrades, from quartz countertops and tall cabinetry to custom plantation shutters and wood-look tile. The spacious layout includes 4 bedrooms, 3.5 baths, and a versatile bonus room with barn doors, ideal for a home office. Thoughtfully designed, the en suite bedroom offers privacy for guests or extended family. Enjoy an Arizona room, lush turf landscaping, and a welcoming front porch. Situated next to a playground, you'll enjoy extra space and serenity. Three-car garage included.

11451 E Posada Avenue Mesa, AZ 85212

$680,000 - 2Br/2Ba -  for Sale in Sunland Springs Village, Mesa
New
$680,000
2 Beds
2 Baths
1,864 SqFt
Status Active
MLS # 6783551
Property Type Single Family Residence
Price Type --
FULL FOUR. CAR. GARAGE! With a hydraulic lift! This spectacular 2 bedroom plus den home showcases an exquisite curb appeal with a desert landscaping and a view of the Superstitions. Large, open floor plan with tall ceilings, recessed lighting, plantation shutters, and wood-look LVP flooring. This 1850 floor plan flows between areas, perfect for entertaining. The living room is filled with natural light, with a comforting feel. . The kitchen features staggered wood cabinets, granite counters, SS appliances, and an island with breakfast bar. The master bed with en suite bathroom has dual split vanity, a walk-in closet, and a glass block walk-in shower. Fenced back yard with an RV gate. The home has been impeccably cared for and it shows! the laundry room has a utility sink, and the oversized garage has an overheight ceiling & epoxy flooring. The backyard offers a covered patio, extended pavers, and an RV gate. You don't want to miss this fare find on one of Mesa's most popular active adult communities. Act now!

6007 W Charlotte Drive Glendale, AZ 85310

$680,000 - 5Br/3Ba -  for Sale in Mission Ranch, Glendale
New
$680,000
5 Beds
3 Baths
2,925 SqFt
Status Active
MLS # 6781883
Property Type Single Family Residence
Price Type --
Located in a beautiful gated community with large grass areas and parks, this home provides a large floor plan with tall vaulted ceiling and updates throughout. All rooms, but one, are located on the 2nd floor. The bedroom downstairs has a full bathroom down the hall. Home backyard has a private spa, pool, and turf grass. Professional photos coming soon.

28713 N 201st Avenue Wittmann, AZ 85361

$680,000
3 Beds
2 Baths
1,761 SqFt
Status Active
MLS # 6688569
Property Type Single Family Residence
Price Type --
Seller to include full panel fencing if closed before ed of the year! Welcome to your dream equestrian oasis! This newly constructed home on 1-acre horse property offers the perfect blend of luxury and functionality. Located just 15 minutes from Surprise and 25 minutes from Wickenburg. Step inside to discover modern vinyl plank flooring, a gourmet kitchen equipped with top-of-the-line appliances, and spacious living areas ideal for entertaining. Outside, your equine companions will love the two horse pens complete with shades for comfort. With all the bells and whistles included, this brand-new build truly has it all. Don't miss out on the opportunity to make this stunning property your own!

1715 E Cheery Lynn Road Phoenix, AZ 85016

$680,000
4 Beds
4 Baths
2,485 SqFt
Status Active
MLS # 6687701
Property Type Single Family Residence
Price Type --
This home qualifies for the Community Lending Program, including lender credit and interest rates below regular conventional rates. Completely rebuilt and reimagined in 2018, the main house features just over 2000 sf, 4 bedrooms, 3 baths, open concept living with large rooms and 9' ceilings. Well appointed kitchen with SS appliances, gas range w/ double oven, gourmet range hood and plenty of cabinetry and counter space. Spacious primary suite awaits with a private patio. The backyard is complete with a 500+ sf paver patio between the main house and the guest house. Dine al fresco or relax in your hot/cold spa. The 427 sf guest house serves as a fully functioning residence separate from the main house with kitchenette, bedroom and bathroom. Priced below 2024 appraisal.

38913 N 21st Avenue Phoenix, AZ 85086

$680,000
4 Beds
2 Baths
1,711 SqFt
Status Active
MLS # 6720420
Property Type Single Family Residence
Price Type --
Beautiful Desert Hills home, Inside, you'll find a cozy haven featuring 4 bedrooms and 2 bathrooms, providing ample space for both relaxation and rejuvenation. With two separate entrances to the property, you'll enjoy seamless access and the flexibility to accommodate your RVs, trailers, horses, and more. Located on a private 1.193 acre lot with gorgeous territorial and mountain views! It has horse corrals with electricity and water and is completely fenced off. The property features completely fenced acreage with wide gates for easy access.

4151 E Campbell Avenue Gilbert, AZ 85234

$680,000
5 Beds
3 Baths
3,705 SqFt
Status Active
MLS # 6726991
Property Type Single Family Residence
Price Type --
Amazing residence in Rancho Collene is on the market! This 5-bedroom beauty showcases an excellent curb appeal, a 3-car garage, an RV gate, and RV parking. The interior boasts a split level with separate living areas that promote privacy, yet its half walls allow an open feel. The living room is bright & airy thanks to its abundance of windows & vaulted ceiling. The dining provides a space for holiday feasts. The fabulous kitchen features a plethora of wood cabinetry, granite backsplash & countertops, SS appliances, and an island w/breakfast bar. The sunken family room is massive & has a recessed featured wall. Upstairs, you'll find a large bonus room. The huge owner's suite has a walk-in closet and a full ensuite with dual sinks, a make-up vanity, a step-in shower, and a soaking tub. The convenient bedroom downstairs is ideal for guests or in-laws. The expansive backyard offers a covered patio and tons of room for entertaining. Don't miss this fantastic opportunity!

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