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.

What’s Your Home Worth?

Search for Your New Home

8620 E Northland Drive Scottsdale, AZ 85251

$680,000
3 Beds
2 Baths
1,290 SqFt
Status Active
MLS # 6739219
Property Type Single Family Residence
Price Type --
Experience the charm of this delightful 3-bedroom, 2-bath home situated in the historic district of Scottsdale. This inviting residence boasts elegant tile flooring throughout, modern stainless steel appliances, and stylishly updated countertops. Spacious backyard with RV gate, and covered back patio! Ideally located near the 101 freeway, downtown Scottsdale, and a variety of shopping and dining options, this home combines historic character with contemporary convenience.

2608 N 80th Place Scottsdale, AZ 85257

$680,000
3 Beds
2 Baths
2,000 SqFt
Status Active
MLS # 6740585
Property Type Single Family Residence
Price Type --
*SCOTTSDALE HOME WITH THREE BEDROOMS, TWO BATHROOMS, 2 CAR GARAGE SPARKLING POOL! *Floorplan also includes spacious Living Room, Family Room, Laundry Room and Bonus Room! NEW luxury plank flooring, all NEW Interior & Exterior Paint including NEW baseboards *UPGRADED Electrical panel with 125 amp subpanel and GFCI protection outlets added *NEW hot water heater *UPDATED KITCHEN includes newer cabinets, counters, lighting and fixtures *BATHROOMS are updated and are in great shape *ROOF & AIR CONDITIONING replaced in recent years * *THREE SLIDING glass doors to covered patio and pool (from family room, and two bedrooms) *DUAL PANE WINDOWS *Large dedicated laundry/utility room and BONUS ROOM with vented heating and cooling *Very nice curb appeal with grass lawn, cypress trees & mature citrus * *BACKYARD IS GREAT FOR ENTERTAINING and features covered patio, sparkling pool and mature lawn and flowering bushes and plants *Close to OLD TOWN SCOTTSDALE, Fashion Square Mall, Waterfront, Botanical Gardens, Restaurants and Sports Venues, Golf, Biking, Hiking and MUCH MORE!

3115 E Verbena Drive Phoenix, AZ 85048

$680,000
5 Beds
3 Baths
3,149 SqFt
Status Active Under Contract
MLS # 6732018
Property Type Single Family Residence
Price Type --
NEW HVAC, pool & spa, large primary rm with deck overlooking the pool, gorgeous downstairs wood tile, open concept split floor plan, high ceilings, skylights, granite countertops, plantation shutters throughout, stainless steel appliances, upgraded baths, 2 bdrms, bonus rm & full bthrm downstairs, all tucked in a fabulous neighborhood, ending in a mountainside cul-de-sac. Mountain Park Ranch - WHERE THE MOUNTAIN MEETS YOU! Welcome to your new home - 5 B bdrm + office, 3 full bath home is thoughtfully updated & has it all. Live in Ahwatukee, Mt Park Ranch, a community-oriented place in close proximity to community pools, hiking and biking trails, shops, paragliding, Troon golf courses, restaurants & some of the best schools in Phoenix. A MUST SE

763 W Estrella Drive Gilbert, AZ 85233

$680,000
4 Beds
2 Baths
2,430 SqFt
Status Active Under Contract
MLS # 6730683
Property Type Single Family Residence
Price Type --
Check out this GILBERT home, now featuring a NEW ROOF, NEW interior PAINT, NEW CARPET, and desirable North/South Exposure! This spacious 4-bedroom, 2-bath, 2,430 sq. ft. home is ideally located just minutes from the vibrant scenes of Downtown Gilbert and Chandler. In addition to a newer water heater, this home comes equipped with an automatic retractable awning and a dual-speed pool pump, providing both comfort and energy efficiency for outdoor enjoyment. Inside, the split primary suite offers ultimate privacy, complete with a nice ensuite bath and a large walk-in closet. The home is prewired with surround sound throughout, making it perfect for entertainment. Whether relaxing in the front room or enjoying the cozy fireplace in the living room, the open layout flows seamlessly into the kitchen, featuring solid granite countertops, stainless steel appliances, and ample cabinet spaceideal for hosting gatherings and making lasting memories. Step outside to your private backyard oasis, which backs onto a greenbelt, offering enhanced privacy with no rear neighbors the yard is completed with a water featured Pebble-Tec pool. Ignore days on market as we were preparing the home. Come tour today and make this exceptional property your new home!

11631 N 112th Street Scottsdale, AZ 85259

$680,000
3 Beds
2 Baths
1,566 SqFt
Status Active Under Contract
MLS # 6739721
Property Type Single Family Residence
Price Type --
Don't miss this gorgeous and TOTALLY remodeled home situated on an oversized cul-de-sac lot! Soaring ceilings and an open floor plan are just the beginning. A true chef's kitchen features high-end Bosch appliances including an induction cooktop & warming drawer! The large kitchen offers luxurious quartz countertops, 42'' cabinetry, a breakfast bar plus an island! This stylish home has it all... including two stacked-stone fireplaces and a brand NEW energy-efficient Air Conditioner! The resort-quality primary suite boasts a romantic fireplace plus an opulent 16' tall custom marble shower. Totally-remodeled and ready to delight the pickiest of buyers. Situated at the back of a cul-de-sac on one of the largest lots around! Prime N/S exposure. Great location!

2357 E Ridgewood Lane Gilbert, AZ 85298

$680,000
4 Beds
3 Baths
2,551 SqFt
Status Active Under Contract
MLS # 6769191
Property Type Single Family Residence
Price Type --
Welcome to Belrose Community, where this beautiful two-story home awaits you! Providing 4 beds, 3 baths, 2-car garage, & a low-care landscape. The home exudes elegance with neutral paint, recessed lighting, and tasteful flooring - soft carpet & wood-look tile. If entertaining is on your mind, the perfectly flowing open layout will surely impress you! The modern kitchen boasts SS appliances, a walk-in pantry, quartz counters, subway tile backsplash, white shaker cabinetry, and a large island w/breakfast bar. One bedroom & one bathroom downstairs. Discover the versatile loft upstairs, ideal for a play or TV area! The owner's suite has a spotless bathroom with dual sinks & a walk-in closet. Check out the backyard with artificial turf & a covered patio, where you can relax while enjoying BBQ!

23095 E Mewes Road Queen Creek, AZ 85142

$680,000 - 4Br/4Ba -  for Sale in Harvest Queen Creek Parcel 3-1, Queen Creek
Open House
$680,000
4 Beds
3.5 Baths
3,546 SqFt
Status Active
MLS # 6771594
Property Type Single Family Residence
Price Type --
Sellers are highly motivated! Gorgeous 4-bedroom home situated on a corner lot next to a common area. This beauty displays a 2-car garage & low-care landscape. Discover a great floor plan with a formal dining room and an inviting living room w/high ceiling! Natural light filled spaces, complemented recessed lighting, neutral paint, with tile & plush carpet. The impressive kitchen has SS appliances, staggered cabinetry, a walk-in pantry, granite counters, a cozy nook, and an island w/breakfast bar. For added functionality, you have an office area, a versatile den, & a large loft. The spacious main bedroom boasts an ensuite w/dual sinks & a walk-in closet. One bedroom & bathroom downstairs. You'll LOVE the backyard with a covered patio, pavers, artificial turf, and a putting green

12938 S 183rd Avenue Goodyear, AZ 85338

$680,000 - 3Br/3Ba -  for Sale in Estrella Mountain Ranch Parcel 97, Goodyear
Open House
New
$680,000
3 Beds
2.5 Baths
2,815 SqFt
Status Active
MLS # 6776965
Property Type Single Family Residence
Price Type --
Your new DESIGNER HOME is waiting! From the private courtyard entry with gate to the beautiful pool on a corner lot back to a park, it's your PERFECT DREAM HOME! Amazing single-story home with 3 bedrooms, 2.5 baths, and 4 car tandem garage. Great room with cozy fireplace, formal living/dining room, and office. Fabulous gourmet kitchen with stainless steel appliances, upgraded cabinets, walk-in pantry, butler's pantry with wine chiller, rounded seating island, granite counters, double ovens, and gas cooktop. So many more features such as an open floorplan with high ceiling, custom window treatments, jack and jill bathroom, back and side covered patio, easy maintained desert landscaping, water softener, reverse osmosis, and PAID SOLAR. Make an offer now before your DREAM HOME is gone!

7710 E Gainey Ranch Road Unit 245 Scottsdale, AZ 85258

$680,000 - 2Br/2Ba -  for Sale in Courts At Gainey Ranch Unit 1-70, Scottsdale
Open House
$680,000
2 Beds
2 Baths
954 SqFt
Status Active
MLS # 6752928
Property Type Townhouse
Price Type --
Experience life in a beautifully renovated 2 Bedroom 2 Bathroom condo in the heart of Scottsdale behind the gates of Gainey Ranch. Enjoy a completely stripped down to the studs remodel with an open concept Kitchen Dining and Living Room combination. 9-foot ceilings with wood-look. Aquaguard laminate flooring throughout. Spacious Main Bedroom with fully renovated walk-in closet Main Bathroom combination. Second bedroom with remodeled built-in desk in addition to a full adult soaker tub in the second bathroom. Detached single car garage with Electric vehicle charger installed. Minutes from TPC, Westworld, Old Town Scottsdale, Scottsdale Fashion Square, and Kierland/Scottsdale Quarter. A full remodel completed in 2022 on the community center with a state of the art fitness center, wine room, covered patio, and entertaining space for parties. Enjoy the community lap pool and the luscious landscape that surrounds this community. Gainey Ranch is steps away from the Shops at Gainey, which provides many fun dining and social activities. In addition, enjoy a round of golf at the Gainey Ranch Golf Club or a day at the Hyatt Gainey Ranch spa.

9949 N Blue Crossing Way Tucson, AZ 85743

$679,999
7 Beds
3 Baths
3,213 SqFt
Status Active
MLS # 6731985
Property Type Single Family Residence
Price Type --
This stunning 2 story with 3 car garage home in Continental Ranch home is move in ready! Conveniently located near I-10. This Home will Meet all your needs. The tall ceilings transform the atmosphere creating a sense of openness, elegance, and space. Luxurious and comfortable, with a spacious layout. The stylish kitchen provides new cabinets, and all appliances including a double oven stove. This home is designed for both practicality and luxury. The inclusion of the owner's suite downstairs adds a touch of convenience, and privacy. Whether you're lounging by the pool on a sunny day or hosting a gathering with friends and family, the upgraded pool decking provides a stylish and comfortable setting, complementing the private backyard with stunning alumawood covered patio. The TEP Efficient Home program is a great bonus, ensuring energy efficiency and sustainability. Walking distance to the loop for the best of biking and hiking. Not just a house but a sanctuary to enjoy the comforts of modern living. *Extended Driveway*

6628 N 19th Street Phoenix, AZ 85016

$679,999
3 Beds
2 Baths
1,675 SqFt
Status Active
MLS # 6743889
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This beautifully remodeled residence is a gem in the highly coveted North Phoenix area. Featuring an open-concept design, this home is bathed in natural light, highlighting the light-toned luxurious LVP wood flooring throughout. The open-concept kitchen is decked out with stainless steel appliances and brand new luxury granite countertops. This home has been upgraded with new plumbing, new electrical, a new septic tank, and completely remodeled bathrooms, ensuring modern convenience and peace of mind. The back yard is ready for your personal touch, whether that be a pool, or a garden! The detached garage could be used for parking, extra storage or even converted into a casita! Conveniently located close to the 51 freeway, the Biltmore shopping center, high-end restaurants and more. this home provides easy access to all that Phoenix has to offer while maintaining a serene, residential atmosphere. Don't miss your chance to own a piece of North Phoenix living at its finest!

21723 N 67th Drive Glendale, AZ 85308

$679,999
4 Beds
3 Baths
3,070 SqFt
Status Active
MLS # 6736498
Property Type Single Family Residence
Price Type --
HUGE PRICE REDUCTION! Incredible opportunity to own this large 1/4 acre property on a cul-de-sac lot! This pie-shaped lot gives you a feel of 3 backyards in 1. Enjoy your own putting green, play-pool, large grassy yard, playground for the kids & concrete tables - it's an entertainer's dream! Not only does the backyard feel spacious, but the house is a well-designed 3,070 sf floor-plan. Fresh look with all new interior paint. Upon entering, you'll notice the soaring vaulted ceilings, large windows & real wood floors at the formal living & dining rooms. There is no shortage of space in the kitchen with a staggered cabinet design, wall cabinets, pantry & matching built-in desk. In addition, the kitchen features granite counters w/ natural edge, breakfast bar, eat-in kitchen, stainless steel appliances, crown moulding & lots of recessed lighting. The large family room has a gas fireplace, room for any furniture arrangement, & space for a game-room or additional sitting area. All bedrooms are upstairs. The primary bedroom has double doors, wood floors, crown moulding, recessed lights & a walk-out balcony. The attached primary bathroom includes double sinks, separate tub / shower, private toilet room & walk-in closet. There is a loft off the primary bedroom that is perfect for a small office setup, teen space, or sitting area. All bedrooms have solid flooring, recessed lighting, crown moulding & ceiling fans. For those with hobbies, there is a 3-car garage with the single garage bay that is air conditioned with a mini-split A/C system. Sierra Verde is a great community with walking paths, lakes, top-rated schools, close freeway access & in a great Glendale location.

Leave a Reply

Your email address will not be published.