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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12484 W Calle De Baca -- Peoria, AZ 85383

$679,949
4 Beds
3 Baths
2,649 SqFt
Status Active Under Contract
MLS # 6747087
Property Type Single Family Residence
Price Type --
Discover the perfect blend of luxury and versatility at 12484 W. Calle De Baca in the rapidly growing community of Lake Pleasant Heights in North Peoria. This exceptional NextGen home offers an innovative living solution with a private suite that includes its own entrance, living area, full kitchen with granite countertops, bedroom, bathroom, washer & dryer, separate A/C & thermostat, with private patio and separate one car garage, that is perfect for multi-generational living, a home office, or guest accommodations. This meticulously maintained home features 4 spacious bedrooms and 3 bathrooms, designed with an open-concept layout that seamlessly connects the gourmet kitchen, dining, and living areas. The kitchen is a chef's dream with granite countertops, high-end stainless steel appliances, and a large island perfect for entertaining. Outside, you'll find a beautifully landscaped backyard with a covered patio, pavers, and brand new artificial grass making this private space ideal for enjoying Arizona's sunny days and warm evenings. Residents of the Mystic community enjoy access to the community pool, spa, workout facility, as well as media and recreation room! Along with proximity to top-rated schools, shopping, dining, and recreational amenities, this NextGen home is a rare find that caters to modern living needs. Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available via the Community Promise Program. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $692/month in year 1 and $354/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases.

5328 N Cordes Drive Eloy, AZ 85131

$679,900
3 Beds
3.5 Baths
2,489 SqFt
Status Active
MLS # 6772685
Property Type Single Family Residence
Price Type --
BEAUTIFUL home w/CASITA, SPA, PAID SOLAR & NEW AC unit! Kitchen features Custom staggered cabinets, wall oven & microwave, Granite counters, pot filler over the GAS stove & wine cooler. Master has bay window, crown molding & custom closet system. Den w/custom built-in shelving & desk. Surround Sound throughout. Entertainment center & TV stay! Sellers just replaced back windows & slider. Casita has Murphy bed, closet & full bath. Garage has a 4 ft extension, AC, new water softener & water heater, 50 AMP RV Hookup, epoxy flooring, workshop & built-in cabinets. The nearly 14,000 sq ft backyard is perfect for Entertaining! New Hot Tub, new landscaping w/lighting, 2 GAS FIRE PITS & Outdoor kitchen w/new built-in Grill w/searing burner covered by large custom pergola. Come see today!

5702 W Windrose Drive Glendale, AZ 85304

$679,900
5 Beds
3.5 Baths
4,011 SqFt
Status Active
MLS # 6782433
Property Type Single Family Residence
Price Type --
ABSOLUTELY MAGNIFICENT PROPERTY IN DESIRABLE MARSHALL RANCH ON 1/3 ACRE LOT! TWO MASTER BEDROOMS--ONE UPSTAIRS AND ONE DOWNSTAIRS* LARGE GORGEOUS TILE THROUGHOUT FIRST FLOOR* BEAUTIFUL CUSTOM ENTRY DOOR AND MATCHING BANISTERS* FAMILY ROOM KITCHEN COMBO WITH KITCHEN ISLAND* PLANTATION SHUTTERS THROUGHOUT* HUGE PANTRY AND LOTS OF CLOSET SPACE* FAUX WOOD FLOORING THROUGHOUT SECOND FLOOR LOFT AND 4 BEDROOMS* CENTRAL VAC UP AND DOWN STAIRS* LARGE BEDROOMS EACH WITH WALK-IN CLOSET* HUGE BACK YARD WITH TWO COVERED PATIOS* SEPARATE SHED* RV GATE* THREE-CAR GARAGE* YOU WILL LOVE THIS HOUSE!!

13332 W Palo Verde Drive Litchfield Park, AZ 85340

$679,900
5 Beds
3.5 Baths
4,464 SqFt
Status Active
MLS # 6654021
Property Type Single Family Residence
Price Type --
Nestled in the prestigious gated community of Dreaming Summit, this exquisite home is just a stroll away from top-notch schools, welcomes you with open arms. New Turf landscape for both front and rear yards provides for more time to relax with friends and family. The custom leaded glass front door sets the tone for the elegance that awaits inside. Discover a harmonious blend of spacious living and refined aesthetics with 5 generously-sized bedrooms, 3.5 baths, and ample space for the whole family. Revel in the details, from the sleek tile and easy-care laminate flooring, along with a spacious 3-car garage and new RV gate, add a touch of luxury to everyday living. Picture yourself unwinding on the extended patio, overlooking a picturesque backyard oasis complete with a sparkling swimming pool, and breathtaking mountain views. This home is not just beautiful but also functional, boasting an enormous chef inspired kitchen with island, stainless steel appliances and double wall ovens. It's a turnkey masterpiece! The grand main suite is a retreat within itself and deluxe ensuite bathroom with dual vanities, soaking tub and separate shower. Experience the grandeur that awaits in every corner of this remarkable residence! Your dream home is ready for you! Litchfield Park is a picturesque city nestled in the West Valley of the Phoenix metropolitan area. Known for its tree-lined streets, manicured lawns, and a mix of historic and modern architecture, the city offers residents a serene and welcoming environment. The city hosts various events and festivals throughout the year, fostering a strong sense of community among its residents. The Wigwam Resort, a historic landmark in the area, adds to the city's appeal with its luxurious amenities and world-class golf courses. There are countless beautiful parks and green spaces as well as the Wildlife World Zoo, Aquarium & Safari Park, both located nearby, offering an exciting adventure for families and animal lovers. Foodies will enjoy the vast range of dining options from cozy cafes to upscale fine dining.

8351 E Monte Avenue Mesa, AZ 85209

$679,900
2 Beds
2 Baths
2,920 SqFt
Status Active
MLS # 6679154
Property Type Single Family Residence
Price Type --
This Extraordinary home offers wide open living space. Open kitchen to family room to large eating area is entertaining and family orientated. Home also offers a formal dining area. The Double Master Bedroom set up for both family and guests. A third bedroom/den gives even more space when needed. The kitchen has a Breakfast bar, plus an island. Appliances are top of the line Kitchen Aide including the trash compactor. The granite counter tops are beautiful. Upgraded tile flooring with carpet in all the right places. The huge main master is a suit with plenty of room. The home sits on an oversized lot offering the owner to set up a resort style entertaining. Larger two car garage with cabinets & workshop with room to park the golf cart. Sunland Village East Offers loads of activities and events. Low HOA Fee of $825 annually.

7180 E Kierland Boulevard Unit 204 Scottsdale, AZ 85254

$679,900
1 Bed
1 Bath
773 SqFt
Status Active
MLS # 6701124
Property Type Apartment
Price Type --
PRICE IMPROVED! Don't miss out on this AMAZING opportunity to own a FULLY FURNISHED home at Optima Kierland, the ultimate in luxury lifestyle starts here! Urban walkability and resort style amenities await you. Luxurious one bedroom suite with floor to ceiling windows & a glass door that opens to a large covered terrace with gorgeous courtyard views! Stainless steel Bosch appliances, gas cooktop and full size stacked washer and dryer. Amenities include a rooftop pool and spa, running track, cabana seating,state of the art fitness center, locker rooms, hot/cold plunge, sauna & steam rooms,massage room, indoor basketball court, gaming room, golf simulator, putting area, bocci ball, business center, conference rooms and so much more. Walking distance to Scottsdale Quarter & Kierland Commons

10633 E Sheffield Drive Mesa, AZ 85212

$679,900
3 Beds
2.5 Baths
2,475 SqFt
Status Active
MLS # 6726269
Property Type Single Family Residence
Price Type --
Welcome to your oasis in Mesa's Eastmark community! Showcased like a MODEL home by the ORIGINAL owners, this stunning residence offers the opportunity to own a highly desirable floor plan that rarely becomes available. Enjoy the spacious layout featuring 3 bedrooms PLUS a den, ideal for today's lifestyle. The gourmet kitchen boasts DOUBLE ovens, GAS range, stainless steel appliances, and a large island, complemented by a charming white subway tile backsplash. Relax in the luxurious master suite featuring a huge walk-in shower, dual sinks, and a walk-in closet with direct access to the laundry room. All enhanced by wood plank-look tile flooring throughout. Outside, entertain effortlessly with a built-in barbecue, bar/counter seating, and an in-ground spa surrounded by travertine! set amidst a manicured, low-maintenance backyard. Why wait months for a builder when you can have this like-new beauty complete with modern custom upgrades!

2925 W Amber Sun Drive Phoenix, AZ 85085

$679,900
4 Beds
3 Baths
2,590 SqFt
Status Active
MLS # 6747633
Property Type Single Family Residence
Price Type --
The search is finally over! This stunning 4-bedroom, 3-bathroom residence in the gated community of Stoneledge features a 2-car garage, paver driveway on a gorgeous mountain side lot. Step into the expansive great room w tall ceilings, neutral palette, plantation shutters, and plenty of space to host family and friends. The gourmet kitchen is equipped with granite counters, abundant white cabinetry, gorgeous lighting, and oversized center island with a breakfast bar for casual dining. You'll also find a versatile den, ideal for an office or study. The tranquil main bedroom offers plush carpeting, an ensuite with dual vanities, and large walk-in closet. The serene and private backyard includes artificial turf and custom pergola for outdoor entertaining and hosting. Don't miss out!

2851 N Ricardo -- Mesa, AZ 85215

$679,900
3 Beds
2 Baths
2,691 SqFt
Status Active
MLS # 6750965
Property Type Single Family Residence
Price Type --
BACK ON MARKET-SELLER WILL PROVIDE UP TO $20,000 FOR BUYERS CLOSING COSTS AND/OR INTEREST RATE BUY DOWN with acceptable offer. Beautiful home in great northeast Mesa location. Just minutes from the Salt River and near shopping and entertainment centers. Brand new roof with 30 year transferable warranty, large 3 car garage with upgraded electric, ramada, large covered patio, open paver patios, large private back yard with water feature. The interior has an open floorplan with vaulted ceilings, fireplace, french doors, MB with bath large walk in shower, updated kitchen with large island, granite counters and custom backsplash, custom built ins, upgraded lighting, 2'' wood blinds, and wood look tile flooring. Owner occupied. Please give 1 hour notice to show. Agent is related to seller.

10505 E Cinnabar Avenue Scottsdale, AZ 85258

$679,900
3 Beds
2.5 Baths
2,079 SqFt
Status Active
MLS # 6759856
Property Type Townhouse
Price Type --
*SELLER IS MOTIVATED* Discover this beautifully updated single-level home with an exceptional floor plan offering 3 bedrooms and 2.5 baths, including two ensuite bedrooms for added privacy and convenience. There's also a versatile third room that could function as a bedroom, den, or office, complete with its own half bath. Located in the highly desirable Heritage Village IV, part of the vibrant 55+ Scottsdale Ranch community. Meticulously maintained and thoughtfully upgraded, the property features newer flooring, fresh paint, an upgraded kitchen, and a fully renovated master walk-in closet. The outdoor patio, complete with new pavers, beautiful landscaping, a lemon tree, and a retractable awning, provides a peaceful retreat. Heritage Village IV offers access to amenities like heated pools, spas, tennis courts, and a clubhouse. Residents also enjoy access to the 42-acre Lake Serena for boating and recreation. With vaulted ceilings, natural light from skylights, a wet bar ideal for entertaining, and close proximity to Scottsdale's best dining and shopping, this home offers both style and comfort in a vibrant, active community.

4444 N 25th Street Unit 15 Phoenix, AZ 85016

$679,900 - 3Br/4Ba -  for Sale in Encue, Phoenix
Open House
New
$679,900
3 Beds
4 Baths
1,942 SqFt
Status Active
MLS # 6781835
Property Type Townhouse
Price Type --
Stunning property in the coveted Encue Biltmore boasts skyline and mountain views with a contemporary lifestyle. Chef inspired eat-in kitchen features an island-breakfast bar, gas cook top, & Bosch appliances, overlooking the living & dining room areas perfect for relaxing or entertaining. This home offers two spacious primary bedrooms with en-suite bathrooms, a flex room for a home office, den, or guest room. New dreamy custom closets. Tankless hot water heater, 2-car garage with epoxy flooring, storage racks, & water softener. Refrigerator, washer, and dryer included. This impeccably maintained luxurious community offers Heated pool, spa, BBQ, and pet area. Situated in a prime location offering an ideal blend of modern amenities & convenience. Centrally located near top-notch restaurants, shopping, golf, iconic Biltmore area, nightlife, biking, hiking, & fitness.

1754 E Cotton Court Gilbert, AZ 85234

$679,700
4 Beds
2.5 Baths
2,903 SqFt
Status Active
MLS # 6698772
Property Type Single Family Residence
Price Type --
Beautifully updated and well-maintained home in beautiful Val Vista Meadows. Enjoy entertaining in this open floor plan. Formal living room and dining room. Large loft upstairs for family fun! Brand new tile, and carpeting! Home fresh custom paint. Travertine tile in the backyard and pathway to the front. Extended patio cover on the back to cover section right outside the master bedroom! New outdoor carpet on the patio. Newer Zoned AC units! The diving pool stays cool in the heat! New upgraded tile on the ground floor with stain-resistant grout. New carpet! New LED fans and light fixtures throughout! The home is located on the street with Cul de sac. This home is pristine!

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