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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4327 E Tether Trail Phoenix, AZ 85050

$669,900
3 Beds
2 Baths
1,845 SqFt
Status Active Under Contract
MLS # 6750004
Property Type Single Family Residence
Price Type --
Newly upgraded beauty!!! Owner has been in home a year now and has done many wonderful upgrades!! 3 bedroom 2 bath. Den off master. Inside Laundry. Walk through front door to open ceilings and natural bright light! Home offers Living room with dining room, Separate family room that is open from kitchen. Kitchen recently remodeled with gorgeous quartz counters, stone backsplash, stainless steel appliances, large pantry and island. Owner has just painted the entire inside and outside of home!! New carpet in all bedrooms, new wood fireplace mantel, brand new roof, had the entire house replumbed with PEX, added front and back security doors, AC just serviced, new window coverings in master bath, eat in kitchen, 2nd bedroom and family room. New exterior lighting, keep reading more.. New light fixture in dining room.Beautiful stone Gas fireplace just serviced. Gas valve added outside for future use. New coach lights at front door and garage. All trim in house just painted! Hallway has cabinets with countertop. Water softener and workbench in garage. North South exposure!! Large extended covered patio overlooking beautiful turf yard.

13324 W Crown Ridge Drive Sun City West, AZ 85375

$669,900
2 Beds
2 Baths
2,254 SqFt
Status Active Under Contract
MLS # 6766407
Property Type Single Family Residence
Price Type --
This beautifully designed 2-bedroom, 2.5-bathroom home offers 2,254 square feet of luxurious living space in a quiet and highly sought-after neighborhood. With an abundance of custom features, this home is the perfect retreat for relaxation and entertainment. The main living areas feature vaulted ceilings, custom lighting, and an inviting ambiance, perfect for hosting or relaxing. The spacious master bedroom features a private fireplace, and gorgeous pool views. The spa-like en-suite bathroom includes a 2-person Kohler Vibracoustic tub and walk-in shower. Versatile bonus room can be used as a home office, craft room, or studio. The chef's kitchen is equipped with high-end stainless steel appliances, Scottsman ice maker, granite countertops, and a large island, making it ideal for prepari preparing meals and entertaining. Dive into your own private HEATED saltwater pool, perfect for year-round enjoyment. The backyard is an entertainer's dream with a mini-golf course featuring three different styles of holes, shuffleboard court, and a covered patio with a built-in outdoor bar. OWNED solar panels significantly reduce energy costs significantly.

44119 N 43rd Drive New River, AZ 85087

$669,900 - 4Br/3Ba -  for Sale in Anthem West Unit 2, New River
Open House
$669,900
4 Beds
2.5 Baths
2,830 SqFt
Status Active
MLS # 6773565
Property Type Single Family Residence
Price Type --
Sprawling single story on one of the largest lots in the area (1/3 acre) and being offered UNDER appraised value * 4 bed 2.5 bath with a HUGE den which could be 5th bedroom easy if needed * Country kitchen w/ Upgraded raised panel cabinets with staggered uppers & 4'' crown molding * Hard surface granite counters with separate kitchen island * Soaring ceilings * HUGE living areas * Plantation shutters! * Massive Master bedroom closet! * Upgraded ALL PAVER driveway entering a much desired 3 car garage * All paver back patio too looking out into the massive yard ready for RV garage? Tons of storage? Guest house? So many possibilities!

1954 E Missouri Avenue Phoenix, AZ 85016

$669,900 - 3Br/2Ba -  for Sale in Beverly Park 2, Phoenix
Open House
$669,900
3 Beds
2 Baths
1,492 SqFt
Status Active
MLS # 6775008
Property Type Single Family Residence
Price Type --
Biltmore - 20th ST & Missouri Ave! Complete renovation of this red brick, 3 bedroom, 2 bath home situated an oversized 12,000 SF irrigated lot. This floor plan is a true entertainer's delight! The wall of glass is a beautiful transition to the outdoor living space surrounding a sparking pool nestled amongst mature fruit bearing citrus trees. The home boasts stained concrete floors, quartz countertops, re-finished cabinetry, new stainless appliances. Even a water softener! New recessed lighting and fixtures throughout the home. New garage door, entrance and interior doors, exterior gates and all fixtures. Flood irrigation keeps grass green year round for $150/yr! Panel upgrade. Treat yourself to a twilight sunset showing, views of Piestewa Peak are breathtaking.

3981 N 155th Avenue Goodyear, AZ 85395

$669,800 - 4Br/3Ba -  for Sale in Pebblecreek Unit Nine, Goodyear
Open House
$669,800
4 Beds
3 Baths
3,401 SqFt
Status Active
MLS # 6755011
Property Type Single Family Residence
Price Type --
Exiced to introduce the GEM of pebblecreek subdivision to public. This nice floor offers 3401 square feet with 4 bedrooms and 3 bath. Formal dining room, Office room, fireplace, 3 car garage, oversized laundry with state of the art design. Complete renovation done to the house with licensed contractor. House is completely redone from top to bottom.

8732 S Sun Quail Terrace Hereford, AZ 85615

$669,500
5 Beds
3 Baths
3,023 SqFt
Status Active
MLS # 6452313
Property Type Single Family Residence
Price Type --
To be built. Construction will begin with contract to start. This is your opportunity to have a custom home built and still have the availability to pick out your homes finished look. Home is located in the beautiful Three Canyons area in the Covey Run subdivision. Mountain Views and scenic living all around.

13345 W Junipero Drive Sun City West, AZ 85375

$669,500 - 3Br/2Ba -  for Sale in Corte Bella Country Club La Salinas Unit 5, Sun City West
Open House
$669,500
3 Beds
2 Baths
1,904 SqFt
Status Active
MLS # 6765453
Property Type Single Family Residence
Price Type --
Stunning golf course San Marco in Corte Bella will bring your perfect lifestyle dream to a reality. Extensively updated & move in ready w/an abundance of outdoor living space. Neutrally painted split three-bedroom floor plan is open to entertaining w/its extra-large quartz island overlooking the living room, fireplace & dining area. Lush landscaped front yard leads to an extended pavered courtyard featuring an iron entry gate & security screen door. Enjoy the outdoors year-round in your fenced backyard w/illuminated travertine patio, designed by Arizona Rainfall, is an outdoor oasis w/a built in BBQ, 2 built in ceiling heaters, TV, 2 seating walls w/a view of the 13th fairway. This highly sought after North/South facing home is truly an indoor/outdoor living delight. THIS IS A MUST SEE! The kitchen features a deep granite sink, an abundance of maple cabinets w/pull outs & new GE French Door refrigerator. Plantation shutters & crown molding throughout! Newly renovated walk-in showers in both baths w/the primary featuring a garden tub set in a quartz decking w/deep shower seating. The spacious primary bedroom & large walk-in closet, finish off your private retreat. The four-foot extended 2 1/2 stall garage is full of built in storage, extra ceiling lights w/a security screen door on the walk out. This community includes all the amenities and lifestyle you deserve. Prestigious Corte Bella 45+ Guard Gated Community. Corte Bella is well known for their award-winning golf course, Pickleball Courts, Tennis Courts, 2 restaurants, 2 bars, gym, work out classes such as yoga, swimming pool, spa, sauna, and more!

32663 N Aris Drive San Tan Valley, AZ 85143

$669,245
4 Beds
3 Baths
2,888 SqFt
Status Active
MLS # 6762800
Property Type Single Family Residence
Price Type --
Gorgeous new single-story home on an oversized homesite in Bella Vista Farms. Loaded with designer selections, this home offers 4 bedrooms, 3 bathrooms, an attached 3 car garage, and a 8' RV Gate. The extraordinary kitchen features a Monogram 36'' gas cooktop with double ovens, Della Terra Quartz kitchen counters in New Venatino Beige, and extended cabinets at the dining room. Other highlights include Aristodraft Maple Cabinets in burlap with soft close doors and drawers, a frameless walk-in shower at the primary suite with a Rain can shower head, 24'' x 24'' tile, upgraded carpet, split bedrooms, and an iron entry front door. Utilities include: Mesa Gas, Epcor Water Sewer, and Rural Metro Fire.

2265 S Willow Way Pinetop, AZ 85935

$669,000
3 Beds
2.5 Baths
1,829 SqFt
Status Active
MLS # 6758749
Property Type Single Family Residence
Price Type --
Welcome home to your mountain retreat in the heart of Pinetop, Arizona, nestled within the majestic Ponderosa pines of the beautiful White Mountains. This custom new construction home offers the perfect blend of modern luxury and serene mountain living. ***Featuring exquisite custom doors and windows, this home is designed to capture the natural beauty of its surroundings while providing an abundance of natural light and stunning views. ***The spacious and inviting covered deck is perfect for outdoor living, allowing you to enjoy the fresh mountain air and tranquil forest setting year-round. ***Step inside to find an open-concept layout with high-end finishes and thoughtful design touches throughout. The home boasts luxury vinyl flooring and quartz countertops, complemented by More.. dovetail, soft-close cabinets throughout. ***The kitchen is a chef's delight, featuring a huge island, Whirlpool stainless steel appliances, and a gas stove, all seamlessly integrated into the living and dining areas. ***Aspen tongue-and-groove vaulted wood ceilings in the great room extend to the covered deck, enhancing the home's rustic charm. ***The master suite offers a luxurious custom-tiled shower and a large soaker tub, providing a private oasis. Guest rooms are thoughtfully located on the opposite side of the home for added privacy and comfort. ***Additional features include a spacious pantry, a separate laundry room with ample storage, and a large 650 sq. ft. garage designed to accommodate a full-size pickup and SUV. ***The home has spray foam insulation for the ultimate energy efficiency year round. The location is just half a mile to the crown jewel of Pinetop-Lakeside, Woodland Lake Park, offering endless opportunities for outdoor activities and scenic beauty. Experience the unparalleled charm and comfort of this custom home. Surrounded by nature and crafted with meticulous attention to detail, it's a haven for those seeking a unique and luxurious mountain lifestyle. Book your private tour today and make this extraordinary property your own! What makes this home extra special are the builder upgrades to the home: Upgraded exterior and interior doors Upgraded Windows Spray foam insulated including garage Upgrade cabinets with dove tail drawers, boxes made out of real wood not partial board. Soft closing drawers and doors. Custom tiled master bath and soaking tub. Guest bath custom tile. Vaulted ceilings with aspen tongue and groove 11''x27' covered back porch with aspen t&g lid. Corner lot with extra ground due to utility easements on two sides to make a bigger lot. Custom insulated 8 ' garage door for 650sqft garage 30 year roof. Over built foundation for extra strength with interior footing. Split face block stem walls.

18235 E Coronado Cave Court Rio Verde, AZ 85263

$669,000 - 3Br/3Ba -  for Sale in Trilogy At Verde River Phase 6 Unit 6c, Rio Verde
Open House
$669,000
3 Beds
2.5 Baths
1,678 SqFt
Status Active
MLS # 6674813
Property Type Single Family Residence
Price Type --
Unobstructed Views of the Majestic Four Peaks whether you step in or out of this highly upgraded Brand New Valletta Model at Trilogy. This 3 bed, 2.5 bath cul-de-sac residence has beauty and privacy with no neighbors at the back or the unattached side. The gourmet Grey/white kitchen boasts a stunning large Quartz Waterfall Island with a breakfast bar and equipped with built in SS Monogram wall appliances with an electric cooktop and a pantry. The upgraded stacked slider doors in the Great room opens to an extended patio, complete with an upgraded pergola and extended pavers. The Primary bedroom with a walk in closet, custom tiled master bath thoughtfully upgraded with a door for privacy. Brand New Washer Dryer and the lock and leave home comes with the builders Warranty too.

23906 S Sunland Court Sun Lakes, AZ 85248

$669,000
2 Beds
2.5 Baths
2,151 SqFt
Status Active
MLS # 6764544
Property Type Single Family Residence
Price Type --
The Paloma model is a stunning 2-suite 2.5-bath home with custom closet built ins, offering 2,151 sqft of open living space and a 2.5-car garage with plentiful room for your golf cart. It is situated in the highly sought after Oakwood community within Sun Lakes. Dedicated to active adults, this home is part of a vibrant retirement destination. Residents can enjoy lunch or dinner at the 'Stone and Barrel,' on ground's restaurant, watch the game on the 25 televisions at the Ironwood Grill, or just relax with a drink while watching the sunset over the lakes at the various eating establishments all within the Sun Lakes community. Surrounded by mature landscaping, this community features 45 holes of golf, 10 lighted tennis courts, 10 pickleball courts, and a 25-meter lap pool, spa sauna, and fitness center personal training options. You'll also find scenic trails and walkways throughout the four different phases, over 100 clubs to partake in, and amenities for formal or informal gatherings. Making it a perfect spot for creating memorable events. The home itself sits on a wonderfully large landscaped quarter acre, (room enough for an additional casita) within a quiet cul-de-sac. It boasts a new roof replaced in 2023, new A/C units in 2023, new natural stone tiles, extra tall baseboards, granite countertops with stone backsplashes, and remodeled bathrooms. The generous laundry room includes a convenient sink, and cabinets for ample storage. A mirrored wet bar, cozy fireplace, and a spacious covered patio with an automatic retractable awning complete this elegant jewel. Perfect for entertaining or relaxing. Come home to this age appropriate oasis in the Valley of the Sun.

12237 W Ashby Drive Peoria, AZ 85383

$669,000
4 Beds
2.5 Baths
2,476 SqFt
Status Active
MLS # 6765595
Property Type Single Family Residence
Price Type --
Welcome to this stunning single-level home on a corner lot in the highly sought-after Vistancia Village. This N/S exposure corner lot offers direct access to Vistancia's Discovery Trail. This 4-bed, 2.5-bath open floorplan features: 10-foot ceilings, wood shutters with invisible louvers, custom nooks, security-lock with mesh steel screen doors, ceiling fans, custom lighting fixtures and no carpet though out. The Chef's kitchen showcases the built-in SS appliances, oversized island, and beautiful Knotty Alder cabinets. The 4-car garage is equip with built in cabinets and a work bench. The single bay garage has a mini-split air conditioning unit, perfect for a home gym, art/hobby room or classic car! Host amazing parties in the professionally landscaped yard with resort style pool & landscaping and artificial turf. Take in the amazing Arizona sunsets while grilling at the built-in BBQ island or relaxing under the pergola. Rated the top master planned community several years in a row, Vistancia Village offers a lifestyle that includes pickleball, golf, 3 swimming pools, trails, parks, clubs and classes for all interests and a large offering of community events! Perfectly situated off the 303 freeway, enjoy easy access to shopping and dining!

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