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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11445 E Paloma Avenue Mesa, AZ 85212

$670,000
4 Beds
2.5 Baths
2,951 SqFt
Status Active
MLS # 6756927
Property Type Single Family Residence
Price Type --
Amazing mountain views the master bedroom, loft, and front porch. This stunning home is recently remodeled with quartz kitchen counter tops, large 24x48 tiles throughout the first floor, LVP flooring on stairs and loft, carpet in all bedrooms, fresh paint inside and outside, and epoxy garage floors. This house features 4 BR, 2.5 baths, plus a den and loft. Two story ceiling in family room. Well-manicured backyard with pebble tech play pool & flagstone flooring outside covered patio area. Surround sound with built-in speakers. Truly a great neighborhood in Gilbert school district.

2742 W Wayne Lane Anthem, AZ 85086

$670,000
5 Beds
3 Baths
2,648 SqFt
Status Active
MLS # 6764184
Property Type Single Family Residence
Price Type --
Seller may consider buyer concessions if made in an offer. Welcome to your dream home, where timeless elegance meets modern convenience. The interior boasts a fresh, neutral color paint scheme, complemented by partial flooring replacement. The primary bedroom features a walk-in closet and an en-suite bathroom with double sinks, a separate tub and shower for ultimate relaxation. The kitchen is a chef's delight with a center island, accent backsplash, and all stainless steel appliances. The exterior fenced-in backyard with a private in-ground pool and a covered patio perfect for entertaining. This home is a true gem, ready to provide a comfortable lifestyle.

3640 S Springs Drive Chandler, AZ 85286

$670,000
5 Beds
3 Baths
2,634 SqFt
Status Active
MLS # 6765710
Property Type Single Family Residence
Price Type --
Newer AC Units! Newer roof! Brand new water heater! Exterior and Interior have just been painted. This stunning home is in the Highly sought after community of Lantana Ranch built by Fulton Homes. Featuring 5 Bedrooms + Loft and 3 full Bathrooms and no neighbors behind you all with a beautiful pool. Enjoy the luxury of having a spotless vehicle from the dedicated soft water line in front. Pride of homeownership is shown in this well maintained home by original owners. This home has been well kept up inside and out with no expense being spared. Walking distance to Paseo Vista Recreation park, walking trails, and many other outdoor activities like Frisbee golf and an archery range. There is also a community park right up the street. There are several major shopping centers within 2 miles. The 202 Frwy is also just 2 miles away. One bedroom downstairs right next to bathroom. Don't miss the opportunity to see this stunning home.

3708 E Laurel Lane Phoenix, AZ 85028

$670,000
2 Beds
2 Baths
1,592 SqFt
Status Active
MLS # 6776421
Property Type Single Family Residence
Price Type --
Welcome to the original Paradise Valley! Your new home has been sandblasted back to exposed brick for that old school feel. You'll notice the low sloping roofs popular of the mid-century modern homes. This is a Jeffries built home which means quality in construction. From the the first step in this Star of Paradise home you will notice the raised ceiling in the kitchen and dining areas, the gourmet gas oven range in the kitchen and the easy transition to the over sized backyard patio; the seller completed a full pool and deck renovation in 2021 complete with a 400K BTU pool heater for year around swimming, you will easily extend your indoor living to the vast outdoor space. Don't forget to check out the fun detached insulated and air conditioned laundry room. You will love this home!

25615 S Ribbonwood Drive Sun Lakes, AZ 85248

$670,000
2 Beds
2 Baths
2,137 SqFt
Status Active
MLS # 6777179
Property Type Single Family Residence
Price Type --
GOLF COURSE LOT HAND-PICKED DURING THE GRAND-OPENING of PALO VERDE!! ENJOY VIEWS down 2 fairways! Owned Solar Electric System. Enter Lovely Home at RoseGarden. Luxurious Plantation Shutters, Vaulted Ceilings, Fans Throughout. Remodeled Kitchen and Baths .Dream Kitchen-Granite, Double Wall Ovens, Garden Window, Kitchenaide Stainless Steel Appliances. Formal Dining Rm. Family Rm VIEWS! Mirrored WetBar. Entertainment Center is optional.1st BRm 16X15! Amazing Views! Step out to Covered Patio on wide lot with Citrus Trees. Flowering Desert landscaping on auto-watering. Enjoy Jetted Spa Bath. Beautiful Travertine Showers in Both Baths. 2nd BRm15x14! Has built-in Office. 5ft extended Garage+ GOLF CART garage! HANDICAPPED FEATURES. ¼ MILE TO PRIVATE Palo Verde Clubhouse, Pools. Guarded 24/7

43603 N 44th Lane Anthem, AZ 85087

$670,000
4 Beds
3 Baths
3,324 SqFt
Status Active
MLS # 6778395
Property Type Single Family Residence
Price Type --
Beautiful 2 story home in popular Anthem community. This 4 bedroom/3 bath has a loft and a 2 story open family room. A large laundry room with a sink and counter space. A welcoming mud room with a bench to change your shoes. Master bedroom has a nice setting area with double sinks, shower, tub and private toilet area. Granite counter top in kitchen and stainless steel appliances. Ceiling fans in every room, but one. A room was added which is approx. 363 sq.ft.. This room is used as an office and it has a window and walk-in closet downstairs, but no vent. Covered front and back patio with landscaping. Large backyard to play and enjoy the outdoors.

12427 N 38th Street Phoenix, AZ 85032

$670,000
3 Beds
2 Baths
1,264 SqFt
Status Active
MLS # 6769033
Property Type Single Family Residence
Price Type --
Come & see this amazing property located in the highly sought after area of 40th St. & Cactus, near the 51 & shopping! This gorgeous home boasts charming curb appeal, low maintenance gravel landscaping, 2-car enclosed carport, RV gate (paved area behind gate), neutral paint, new laminate floors, cozy fireplace & lots of storage areas! The lovely kitchen offers matching stainless steel appliances, Silestone- Quartz countertops, tile backsplash & a pantry. The master suit features a private exit, bathroom with his & her sinks & a nice walk-in closet. The expansive backyard boasts a large covered patio, 2-8x10 Tuff Sheds, 1-10x16 Tuff Shed Workshop & tons of potential for you to personalize it & make this house your own.

7232 E Maverick Road Scottsdale, AZ 85258

$670,000
2 Beds
2 Baths
2,581 SqFt
Status Active
MLS # 6780712
Property Type Single Family Residence
Price Type --
ENTER YOUR OWN PRIVATE GATED WORLD GREETED BY LUSH LANDSCAPING DESIGNED AROUND THE LARGE GAZEBO IN THE MIDDLE OF THE YARD. ''SPECTACULAR'' BEST DESCRIBES THE LANDSCAPING. THIS SPACIOUS HOME ALSO FEATURES A HUGE LIGHT and BRIGHT OPEN KITCHEN WITH WINDOWS OPENING UP INTO YOUR YARD. THE UPSTAIRS LOFT MAKES FOR THE PERFECT SECLUDED OFFICE SPACE. ALL BEDROOMS AND BATHROOMS ARE ON THE MAIN FLOOR WITH WALK-IN CLOSETS FOR EXTRA SPACE. THERE IS ALSO A CUSTOM ATTIC ACCESSABLE WITH A PULL DOWN LADDER AS AN EXTRA FEATURE. WELL EQUIPPED OUTDOOR BBQ CENTER JUST OFF THE KITCHEN WITH REMOTE CONTROL AWNING FOR ADDED PROTECTION. FANTASTIC LOCATION WITH EASY ACCESS TO THE 101, SCOTTSDALE RD, AND ONLY 22 MINUTES FROM SKY HARBOR. MINUTES AWAY FROM OLD TOWN S'DALE, FASHION SQUARE, AND 100's OF RESTAURANTS.

16074 W Cortez Street Surprise, AZ 85379

$670,000
4 Beds
3.5 Baths
3,348 SqFt
Status Active
MLS # 6691064
Property Type Single Family Residence
Price Type --
***Motivated Seller*** Gorgeous two-story home nestled in the highly desirable community of Greer Ranch with indoor-outdoor resort-style living. As you walk through the courtyard with mature landscaping you will enjoy its timeless beauty. This spacious 4 bedrooms/3.5 bathrooms with 1 bedroom & 1.5 bath located downstairs flows seamlessly from room to room. Large master suite, master bath vanity has granite counter tops with double sinks, separate shower, relax while soaking in the large garden tub. Nice size master walk-in closet will check all your boxes! A cozy family room with new carpet. Gorgeous eat-in-kitchen is fit for entertaining and features granite counter tops, island for extra prep & storage, stainless steel appliances, gas stove/oven, R/O drinking water system. Head upstairs to a large loft, master suite & bath, 2 bedrooms & second bath also with granite counter tops. Ceiling fans throughout. Resort-style desert oasis backyard features covered patio, travertine decking throughout the back yard, sparkling saltwater pool that includes a water feature and electric heating /cooling system to help with the colder nights and warmer days, and lighting to give it that amazing ambiance. Gorillas' basketball hoop with concrete court. 3 car extended garage with a 2/1 split. Gated dog run with dog door. This home also includes automated smart home switches and paid solar system to help with energy cost. This home is ideally located less than a few minutes from Route 303, premier dining, shopping, entertainment and much more. This home is truly a must see! Don't miss your chance to own this distinctive home and start making heart warm memories with your friends and family!

2821 W Libby Street Phoenix, AZ 85053

$670,000
5 Beds
3 Baths
2,636 SqFt
Status Active
MLS # 6713274
Property Type Single Family Residence
Price Type --
Welcome to your dream home, a one-of-a-kind custom-built masterpiece that exudes elegance and sophistication. Built in 2019, this is the newest two-story house on the block, featuring a grand entry with a stunning wood door that sets the tone for the luxury within. This exceptional residence offers unparalleled luxury and modern amenities, ensuring a lifestyle of comfort and convenience. With five generously sized bedrooms, there's ample space for family, guests, or even a home office. Each bedroom is designed to provide maximum comfort and privacy, complemented by three beautifully appointed full bathrooms with high-end fixtures and finishes, offering a spa-like retreat for your daily routine.The heart of the home features custom cabinets and top-of-the-line stainless steel appliances, perfect for the home chef. Granite countertops add a touch of elegance to the kitchen's open layout, which is ideal for entertaining and family gatherings. The living spaces are adorned with stunning wood floors, and the grand wood staircase adds warmth and charm to the interior. Vaulted ceilings create an airy and spacious ambiance, while double wide patio glass doors seamlessly connect the indoors with the outdoor living areas. For those with a passion for travel, the RV gate provides convenient storage and access for your recreational vehicles, making it easy to embark on your next adventure. The home is equipped with two high-efficiency air conditioning units, ensuring comfort throughout the year. Energy-efficient windows by Milgard and foam insulation enhance the home's sustainability and energy savings. Recessed lighting throughout the home provides a modern touch and brightens every corner. The garage features an 8-foot door with extended height, perfect for larger vehicles. Additionally, the oversized water heater ensures that you'll never run out of hot water. The extended back patio is perfect for outdoor living and entertaining, complete with electrical wiring for up to three ceiling fans. The backyard also features a full-size shed for extra storage and is enclosed by a block stucco wall for added privacy and security. The home also boasts a comprehensive salt water filtration system for clean and healthy living. The exterior of this custom-built gem boasts a stylish stucco finish, adding to its unique architectural design. Every detail of this home has been thoughtfully designed to offer the utmost in modern living. From the open-concept living spaces to the high-quality materials used throughout, this home is the epitome of luxury. This property is not just a house; it's a lifestyle. Don't miss the opportunity to own this extraordinary home that combines unique design, luxurious features, and modern amenities. Schedule a private tour today and experience the beauty and elegance of this exceptional property.

3535 W Morgan Lane San Tan Valley, AZ 85144

$670,000
5 Beds
3 Baths
3,190 SqFt
Status Active
MLS # 6720802
Property Type Single Family Residence
Price Type --
Nestled in the desirable San Tan Heights community, this 5-bedroom, 3-bathroom home offers comfort and style to impress even the most discerning buyers. The spacious newly painted home features a renovated kitchen, luxury vinyl flooring, and an inviting living space with an abundance of natural light flooding through. The gourmet kitchen is a chef's dream featuring high-end stainless-steel appliances, quartz counters and a huge island with plenty of storage. The master suite boasts a full bath with double sinks, a private toilet room, and a separate shower and tub. Outside, a private pool with a waterfall rock feature awaits, perfect for relaxing or entertaining. Three car garage with your own Tesla high speed charger. Don't miss out on this Arizona oasis!

507 E Wesleyan Drive Tempe, AZ 85282

$670,000
4 Beds
2 Baths
2,086 SqFt
Status Active
MLS # 6727308
Property Type Single Family Residence
Price Type --
This beautiful home has been remodeled from top to bottom. Turnkey house that is upgraded to the max. New Electrical, new light fixtures, completed repainted. New front and back landscape with paver driveway extensions and front paver patio. Completely new kitchen with new appliances. New Master bathroom with his and her shower. Features a mud room and large pantry. All new upgraded tile throughout the house. New drywall, new windows, new doors and hardware and a new roof! This home is close to the University and in a great family neighborhood. Come make this your new home!

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