Epic Housing Shortage Being Reported

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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8525 E Bonnie Rose Avenue Scottsdale, AZ 85250

$675,000

3 Beds

2 Baths

1,610 SqFt

Status Active

MLS # 6766896

Property Type Single Family Residence

Price Type --

Experience the best of Scottsdale living with this centrally located gem! In close proximity to spring training camp, top-rated golf courses, Chaparral Park, fantastic dining options, Old Town Scottsdale, and Fashion Square Mall. With NO HOA fees, this property is a perfect choice for short-term rentals. Recently remodeled kitchen featuring quartz countertops & slim shaker cabinetry. Newly updated floors, recessed LED lighting, and fresh paint inside and out. Don't let this opportunity slip away!

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4143 E Rockledge Road Phoenix, AZ 85044

$675,000

4 Beds

2 Baths

2,340 SqFt

Status Active

MLS # 6764192

Property Type Single Family Residence

Price Type --

Amazing home! THIS BEAUTIFUL 3 BEDROOM plus Den HOME IS IN A PRIME LOCATION. GREAT KYRENE SCHOOL DISTRICTS. WALKING DISTANCE FROM PARKS AND POOLS. EASY ACCESS TO 202/I10. CLOSE TO EVERYTHING..., SHOPPING, RESTAURANTS, NIGHT LIFE. THIS HOME OFFERS A SINGLE LEVEL SPLIT FLOOR PLAN WITH NORTH/SOUTH EXPOSURE. PLANTATION SHUTTERS; GRANITE COUNTERTOPS; MARBLE FLOORS; HARDWOOD FLOORS; WATER SOFTENER; PRE WIRED SURROUND SYSTEM; ALARM SYSTEM; MISTER SYSTEM. OFFICE CAN EASILY BE MADE INTO 4TH BEDROOM/PLAYROOM. OVERSIZED 3 CAR GARAGE WITH TONS OF CABINET STORAGE. BACKYARD IS GREAT FOR ENTERTAINING. LUSH WITH MATURE TREES ALONG WITH PUTTING GREEN; FIRE PIT & SPA. CLOSE TO A-RATED SCHOOLS, SHOPPING, AMENITIES AND COMMUTER HIGHWAYS.

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6250 E Carolina Drive Scottsdale, AZ 85254

$675,000

3 Beds

2 Baths

1,415 SqFt

Status Active

MLS # 6764258

Property Type Single Family Residence

Price Type --

This newly renovated 3-bedroom, 2-bathroom home features sleek finishes throughout, a cozy fireplace in the living room, and a modern kitchen with stainless steel appliances. The primary bedroom boasts a spacious ensuite bathroom with double sinks. Enjoy seamless indoor-outdoor living with a private backyard, covered patio, and artificial turf area for convenience. This immaculate renovation also includes a new A/C unit and new water heater! Located near Kierland Commons, Scottsdale Quarter, and local parks, this home offers both comfort and convenience in a vibrant community. Don't miss out on this updated gem!

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2818 S Berrywood -- Mesa, AZ 85212

$675,000

3 Beds

3 Baths

2,025 SqFt

Status Active

MLS # 6767015

Property Type Single Family Residence

Price Type --

This one of a kind custom home is situated on a large corner lot in SSV, one of Mesa's popular 55+ golf course communities! This layout is a rare find! Lots of natural light and views of the Superstition Mountains from the main living area and your bedroom. This 3 bedroom, 3 full bath home has been meticulously cared for and is move in ready. All tile, vaulted ceilings, neutral paint, and spacious rooms. The kitchen has matching black SS appliances, a breakfast bar and luxurious granite counter tops! The master suite has two closets and a freshly remodeled bathroom with a walk in shower. Beautifully maintained desert landscaping, turf and citrus trees! Newer A/C, a water softener and electric, retractable awnings for additional shade in the back yard. Extended patios and much more!

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2242 S Catarina Circle Mesa, AZ 85202

$675,000

4 Beds

2 Baths

2,322 SqFt

Status Active

MLS # 6766426

Property Type Single Family Residence

Price Type --

Welcome to your dream home in Mesa, AZ! This stunning 4 bedroom, 2 bath, 3-car garage house boasts 2,322 square feet of spacious living space with a cozy brick fireplace. All the paint and carpet are brand new, adding a fresh and inviting touch throughout. Located on a quiet cul-de-sac lot, this property offers the perfect combination of privacy and convenience. Step outside to your own private oasis with a fenced pool and low maintenance artificial lawn. Turf is eco- and pet-friendly. Located in the quiet, safe, established neighborhood of Laguna Shores, you'll love coming home to this charming home every day. Don't miss out on this incredible opportunity - reach out for more information!

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728 W Thunderbird Road Phoenix, AZ 85023

$675,000

3 Beds

2 Baths

1,935 SqFt

Status Active

MLS # 6767036

Property Type Single Family Residence

Price Type --

Experience the perfect blend of luxury and tranquility in this stunning 3-bedroom, 2-bathroom home backing up to a scenic golf course. Wake up to breathtaking views, enjoy vaulted ceilings that add spaciousness and light, and relax in a beautiful home with fresh paint inside and out. The brand-new roof ensures peace of mind for years to come. Whether you're a golfer or just love beautiful surroundings, this home offers the perfect escape. Don't miss the opportunity to own this slice of paradise. Hurry and make it yours!

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3534 E Spring Wheat Lane Gilbert, AZ 85296

$675,000

4 Beds

3 Baths

2,122 SqFt

Status Active

MLS # 6767131

Property Type Single Family Residence

Price Type --

Hurry with your offers! Won't last long at this new LOW price. It's one of the finest examples of Fulton Homes most desired single level floorplan in Lakeview Trails Morrison Ranch. It features 4 bedrooms, 3 baths, an open Flex room looking through to the Living/Dining/ Kitchen. The gourmet style kitchen features separate gas range and oven, a BUILT-IN GE refrigerator, microwave and dishwasher. The cabinets are all soft close throughout and are finished in a beautiful driftwood stain. The counters are topped with granite in the kitchen as well as the primary suite bathroom. The backyard is adorned with rustic travertine pavers and Diamond Light turf. The built in gas firepit creates the perfect ambiance for entertaining outside on those cool fall evenings. Much more. Owner/Agent

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27794 N Sierra Sky Drive Peoria, AZ 85383

$675,000

5 Beds

3 Baths

3,081 SqFt

Status Active

MLS # 6767127

Property Type Single Family Residence

Price Type --

Welcome to this exceptional 5-bedroom, 3-bathroom residence in Westwing Mountain, featuring a private pool and stunning curb appeal with low-maintenance landscaping. The well-appointed kitchen boasts sleek stainless steel appliances, granite countertops, and a central island perfect for casual dining and entertaining. Ample pantry space provides additional storage.Ascend to the second level to find the luxurious primary suite, complete with dual sinks, a separate soaking tub, and a spacious walk-in closet. The thoughtful floor plan promotes seamless indoor and outdoor entertaining, with easy access to the covered patio and inviting pool area. This home offers numerous inviting spaces for relaxation and social gatherings. Conveniently located just minutes from hiking trails and parks, this property is a true oasis for both comfort and recreation.

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16619 S 27th Avenue Phoenix, AZ 85045

$675,000

4 Beds

3.5 Baths

3,125 SqFt

Status Active

MLS # 6773372

Property Type Single Family Residence

Price Type --

Welcome to your dream home located in Foothills Reserve Community! With 4 beds, 3.5 baths, a 2-car garage, & a cozy front porch, it tastefully blends modern design & comfortable living. Beautifully upgraded interior boasts wood-look flooring, graceful archways, fresh neutral paint, soaring ceilings, clerestory windows, & a seamlessly flowing living & dining room ideal for receiving guests. Harmonious great room offers a clear view of the backyard. Open-concept kitchen is equipped with abundant cabinetry topped with crown moulding, recessed lighting, SS appliances, desk area, a prep island with a breakfast bar, & granite counters. Sizable loft is excellent for a study or TV area. Spacious primary retreat features an ensuite with two vanities, a separate shower & tub, & a walk-in closet. PLUS! 2nd main bedroom, with its own bathroom, provides privacy for guests. Enjoy fantastic mountain views from the serene backyard with a covered patio & artificial turf. This gem is ready for you to move in & enjoy!

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6232 E Aire Libre Lane Scottsdale, AZ 85254

$675,000

3 Beds

2 Baths

1,999 SqFt

Status Active Under Contract

MLS # 6743774

Property Type Single Family Residence

Price Type --

Amazing location! Beautifully remodeled and spacious 3 bedroom 2 bath home near Kierland and Scottsdale Quarter. Split floorpan, with brand new stainless steel appliances, new electrical, new plumbing, stone countertops, updated bathrooms and new flooring throughout. Close to Kierland and Scottsdale, easy access to the 51 and 101. This won't last!

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2345 W Dixon Lane San Tan Valley, AZ 85144

$675,000

3 Beds

2 Baths

1,863 SqFt

Status Active Under Contract

MLS # 6693965

Property Type Single Family Residence

Price Type --

Amazing Custom Home and Horse Property with Mountain Views, on 1.3 acres in the desirable Bonanza Ranch Subdivision. Close to San Tan Mountain Park's riding and hiking trails. Beautifully Remodeled 3 bedroom, 2 bath, home, w/Den, plank style floors. Gourmet kitchen overlooks family room, perfect for entertaining. All new Kitchen with SS Appliances, Solid Wood Cabinetry with soft close, pull out shelving, Quartz counters, and under counter lighting. Master bath and laundry received the same beautiful updates. Spacious Master Suite with Walk in Closet, 3-car extended length attached garage with new insulated doors. All new Dual Pane, Solar Therm Windows throughout. New 5 Ton Train HVAC system w/air scrubbers and surge protection. Your horses will feel Pampered in their Spacious 4 Stall... ...Spacious 4 Stall 32'x44' Mare Motel with electricity, water and misting system. Oil pipe fencing and large gates, w/separate areas for bathing and separating horses. Rear gate for riding out the back of property. Covered Hay storage and still lots of room to store your toys or build a shop. Relax and Enjoy Beautiful Desert Foothills Living at its Finest.

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8754 S Maple Avenue Tempe, AZ 85284

$675,000

3 Beds

2 Baths

2,340 SqFt

Status Active Under Contract

MLS # 6743448

Property Type Single Family Residence

Price Type --

Discover your dream home in the highly sought after Pecan Groves of South Tempe! This charming 3-bedroom, 2-bathroom property features an open living space, formal living room, large master suite, and a bonus home office that's perfect for remote work. The private backyard provides space for plenty of future improvements. This home also features a spacious 2-car garage with an expansive bonus attic storage. The roof was also fully replaced in 2019, providing peace of mind for years to come. Located in a highly desirable area, this home offers easy access to scenic parks, a variety of shopping, and dining options. With convenient freeway access, you're just minutes away from everything Tempe has to offer. Don't miss this fantastic opportunity!

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