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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3012 E Beryl Avenue Phoenix, AZ 85028

$662,500
3 Beds
2 Baths
1,600 SqFt
Status Active
MLS # 6689947
Property Type Single Family Residence
Price Type --
***PRICED $55K BELOW APPRAISED VALUE*** Your very own renovated, redesigned and reimagined home in the highly sought after Sheaborhood area of North Phoenix with No HOA on nearly a quarter acre! This home features an open concept, a fully renovated kitchen that rivals those in million dollar homes and a primary suite that will have you feeling like the spa is in your very own home. It features a BRAND NEW ROOF all the way down to the sheathing, NEW WIRING, NEW PLUMBING, NEW HOT WATER HEATER and NEW WINDOWS, so you can have peace of mind that all your major items are already taken care of. Both bathrooms and the primary suite have been generously extended, while the living area was beautifully opened, making this home perfect for those craving a modern living experience in an established neighborhood. This property is nestled on nearly a quarter acre lot on a quiet street in close knit, deeply adored community. Upon driving up to the home, you'll be welcomed by a freshly painted exterior with an impressive walkway leading you to your luxurious and oversized front door. When entering the home, you will find a bright, spacious great room complete with a large island and brand new slider. On the west wing of the home, you will find three generously sized bedrooms, a huge guest bathroom with an extended vanity and dual sinks, a spacious primary suite and a custom primary shower that rivals those in million dollar new builds. This home has an extended laundry room, which is a rare find in this neighborhood and is sure to appease every modern buyer. The backyard has MOUNTAIN VIEWS, tasteful landscaping, upgraded, modern gravel and luxurious turf.

18373 W Devonshire Avenue Goodyear, AZ 85395

$662,000 - 3Br/3Ba -  for Sale in Sedella Parcel 4b, Goodyear
Open House
$662,000
3 Beds
2.5 Baths
2,322 SqFt
Status Active
MLS # 6747749
Property Type Single Family Residence
Price Type --
Welcome to your beautiful new home located in the truly desirable and highly sought after community of Sedella in the rapidly growing city of Goodyear Arizona. Pulling up to this incredible home, you will be immediately greeted by the flawless curb appeal boasting a fully pavered driveway entering into two separate garages - one two car and another separate one car garage - both with epoxy flooring. Walking through the front door you'll be greeted by this one of a kind floor plan. Introducing the Broadmoor model! This 3 bedroom, 2 ½ bath, 2,322sq/ft expansive model literally has everything you have ever dreamed of!! Featuring a large extended modern kitchen with quartz countertops, an oversized waterfall edge island, new dishwasher, new faucet, new garbage disposal, gas range with stainless steel hood, built in double ovens, built in microwave, French door refrigerator(INCLUDED), and more cabinetry than you can possibly imagine, storage will never be an issue again! Touring through the rest of the home you will be overwhelmed with luxury and upgrades including but not limited to 12' ceilings in all living areas, 8' doors throughout, wood slat blinds throughout, energy efficient low E KIitchen windows, Shiplap wall in living room, high end fans & fixtures, new carpet, and custom built in closets throughout every room in the home! As you walk through either your living room or master bedroom pocket sliding glass doors, you will be astounded by an extended covered patio with a custom stone wall gas fireplace, HUGE grassy area surrounded by Indian Ficus for extra added privacy. This is indoor-outdoor living at its very best! Did we mention that your new home also comes with a separate Pavillion detached from the covered patio. The Pavilion is fully equipped with electric, shelving, built in bar, new bar fridge, and pavers.This is literally an entertainer's dream! Owners even strategically placed foliage at every window to create a private oasis. If you stayed with me this long, we might as well lay out a few extra upgrades that may not be as sexy but still necessary when picking the perfect home and this is THE PERFECT HOME! Owners recently added a new A/C compressor, new washer and dryer(INCLUDED!), new exchange tank water heater, new irrigation lines, new turf side yard which is perfect for pets or children's play area, new grout patio, new bar tile & stucco work, tile & grout cleaned throughout home, and a new shower head in master bath. Many furnishings may be included on a separate bill of sale! Homes like this go FAST!!!! Buyer to verify all facts and figures listed in MLS.

20272 W Hollyhock Street Buckeye, AZ 85396

$661,995
3 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6717732
Property Type Single Family Residence
Price Type --
8760 sqft lot - Optional Guest Suite - Gourmet kitchen, quartz countertops, full tile backsplash, white cabinets, pendant lights at island, stainless steel appliances w/pyramid hood & gas cooktop - Multi-slide doors at great room - Walk-in shower at primary bath - Pre-plumb locations at laundry room, soft water loop, gas to patio - 9 x 35 tile floors throughout except for carpet in bedrooms - Satin nickel fixtures throughout - Ceiling fan pre-wires at bedrooms, patio and great room - 10-foot ceilings - Two-tone paint - Garage service door - Cabinets & wet bar sink at guest living room w/ beverage center & rough-in for microwave.

1449 W Saddle Run Apache Junction, AZ 85120

$661,990
4 Beds
3.5 Baths
3,344 SqFt
Status Active
MLS # 6750835
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Casoria floor plan presents a sophisticated two-story layout featuring four bedrooms, an upstairs loft, and a versatile flex space perfect for an office, TV room, or study. Enhanced by professionally landscaped front yard, this home will be ready for occupancy in October or November. Ideally situated near community parks, grocery stores, and a variety of restaurants.

3131 N Central Avenue Unit 4015 Phoenix, AZ 85012

$661,517
2 Beds
2 Baths
1,363 SqFt
Status Active
MLS # 6576911
Property Type Apartment
Price Type --
Construction Completed! *5% BUYER INCENTIVE* Introducing Edison Midtown Phase 2 with 60 new construction condominiums. This spacious two bedroom +den condo is one of the larger two bedroom floor plans and offers ten ft. ceilings, an open floor plan, and large master bedroom with ensuite bathroom. Chefs kitchen offers expansive cabinetry, quartz countertops and stainless steel appliances including a gas range. Enjoy the views over the pool and exterior common areas from the interior of this condo. Spacious balcony to capture the amazing views while outside as well. Edison Midtown features incredible amenities for that perfect Urbanite lifestyle. A beautiful pool and lap pool, 2000 sq. ft. fitness center and lounge, and gated parking garage.

3516 N 103rd Avenue Avondale, AZ 85392

$661,286
4 Beds
2.5 Baths
3,456 SqFt
Status Active
MLS # 6639394
Property Type Single Family Residence
Price Type --
MLS#6639394 Ready Now! Welcome to the innovative 45-5 plan at Parkside Almeria, showcasing a sophisticated and functional design. This striking floor plan boasts 4 bedrooms, 2 full bathrooms, and 1 half bathroom. The 3-car split garage ensures convenience and abundant storage. At the core is the open kitchen, equipped with a GE Cafe gourmet cooktop, 42'' upper cabinets, and exquisite quartz countertops. Experience a blend of modern aesthetics and expansive living in this meticulously designed residence that harmonizes comfort and style. Step into a home that surpasses expectations, setting the standard for contemporary living. Structural options include: garage service door, soft water loop, two tone paint, gas line for future outdoor kitchen and soft water loop. great amenity area with community pool, Basketball court, pickle ball courts, playground and ramada. Fun for everyone!

7680 N Outlook Lane Prescott Valley, AZ 86315

$661,225
3 Beds
2 Baths
2,263 SqFt
Status Active
MLS # 6782609
Property Type Single Family Residence
Price Type --
Outstanding Value on this 2263 square foot, Contemporary Ranch, in the Gated area (PARK RIDGE) of The Viewpoint placed on a Corner Lot with nearly ¼ Acre of space. This fine home has 3Bedrooms, 2Bathrooms, 2CarGarage, plus Formal Living Room/Den, & Formal Dining Room....GREAT ROOM Concept with Open/Split Floor Plan, Vaulted Ceilings, Gas Fireplace w/Blower, 20'' Tile in wet/traffic areas, Pleated Shades, Ceiling Fans, Wood Sill Plates, Security System, & Surround Sound. Kitchen is very functional with White Painted Cabinetry, GRANITE Countertops, Quality Black Appliances (inc. Fridge, DW, Micro, Gas Range), Breakfast Nook, Breakfast Bar, Pantry, & RO Unit for drinking water. Large Master with Dual Sinks, Walk-In closet, Garden Tub, Large Snail Shower, & has Direct Access to back Patio which has Superior Landscaping, including a Waterfall/Water Feature, Grass, Built in BBQ Grill, Fire pit, & has Extended Pergola covering BBQ Grill & the Hot Tub..... Let's not forget the Spacious/Screened in Rear Patio w/Tiled floor, Built In Bar in Covered Patio, Large Laundry w/Upper & Lower Cabinetry & Folding area, Central Vac is Plumbed, Storage Shed, & the HOT TUB Conveys!!!!

2983 E Cherry Hill Drive Gilbert, AZ 85298

$660,990
4 Beds
2 Baths
2,128 SqFt
Status Active
MLS # 6747433
Property Type Single Family Residence
Price Type --
This beautiful single-story home seamlessly combines functionality and comfort, featuring 9-ft. ceilings, a spacious great room and porcelain tile flooring spanning the entire home. The gourmet kitchen boasts a large center island, quartz countertops with pendant light prewiring, a stunning tile backsplash and stainless-steel appliances including a built-in KitchenAid® double wall oven and separate gas cooktop. The primary bath features a walk-in shower and separate 42-in. garden tub, a dual-sink vanity, and an enclosed water closet. Please note: The photos displayed are of a model home and may not represent the actual property. Please verify specific features and details.

26457 S 231st Way Queen Creek, AZ 85142

$660,474
5 Beds
4.5 Baths
3,291 SqFt
Status Active
MLS # 6780161
Property Type Single Family Residence
Price Type --
Dont miss this great opportunity for a 5 bedroom, 4.5 bath house PLUS a 3 car garage. This brand new home comes with COMPLETED backyard landscaping! This community offers an abundance of amenities including pickleball courts, resort-caliber outdoor pool with plenty of seating and lounging areas, fitness center with multi-use activity room, open air pavilion with fireplace and grilling stations, event and game lawns, shaded play parks, half-court basketball and two dog parks.

1227 W Golden Ore Pass Apache Junction, AZ 85120

$660,208
5 Beds
4 Baths
3,488 SqFt
Status Active
MLS # 6740174
Property Type Single Family Residence
Price Type --
Discover the exceptional difference in your home-buying experience! Welcome to Mariposa at Blossom Rock, where our 2-story Skylar design is under construction now. Open-concept floor plan featuring huge and welcoming kitchen that flows into a bright, spacious great room that opens up to your private, covered outdoor room. Downstairs office and additional flex room. Convenience of the 4-car garage with 5 spacious bedrooms, 4 luxurious baths, a great room with a dining area, this home has room for everything! Plus, we're including $43,000 in stunning upgrades to make this home truly special, and we're offering special financing to help. Home completion is estimated in October 2024

3820 Ridge Runner Way Wickenburg, AZ 85390

$660,000
2 Beds
2 Baths
1,959 SqFt
Status Active
MLS # 6751381
Property Type Single Family Residence
Price Type --
This stunning home at 3820 Ridge Runner Way in Wickenburg Ranch features 2 beds, 2 baths + den and a split floor plan with approximately 1950 sq. ft. of living space. The corner lot property's options include a 4' garage extension with epoxy flooring, retracting corner multi-slide glass doors leading from the living room and extended dining room onto the covered patio, Smart Space utility sink and upgraded flooring. Additional customized features include granite countertops throughout, full tile in showers and vanity areas, ceiling fans, pendant lights and golf cart plug-ins. The outdoor living space is enhanced by the extended tile onto the covered patio including a stone fireplace and newly installed matching BBQ area under a beautiful pergola. The kitchen offers elegant granite counters to promote a sleek and stylish workspace with upgraded soft close drawers and rollout shelves that provide ample storage and easy access to your kitchen essentials. The Smart Space laundry and desk area includes cabinets and a customized coat rack bench to ensure efficient multitasking and organization in your home. The home is situated near the 18-hole, par-71 championship golf course, recognized as one of Arizona's three best golf courses. The Club amenities cater to the diverse interests of its members. This home is a must-see to appreciate all the features too numerous to mention!

3628 W Pecos Road Chandler, AZ 85226

$660,000
4 Beds
3 Baths
2,231 SqFt
Status Active
MLS # 6732316
Property Type Single Family Residence
Price Type --
Your dream home is here! This 2022 CUSTOM build offers 4-bedroom, 3-bath with a 3-car garage, RV gate with power outlet and sewer dump. NO HOA! Its beautifully landscaped from front to back with an inviting porch. Inside, enjoy an open floor plan with soaring 10-foot ceilings, recessed lighting, and stylish wood-look tile flooring. The gourmet kitchen has granite countertops, ample white cabinets with crown molding, chic pendant lighting, a tile backsplash, stainless steel appliances, a large walk-in pantry, and a two-tier island with a breakfast bar. The main bedroom offers plush carpeting, a luxurious ensuite with dual sinks, and a spacious walk-in closet. Relax in the backyard oasis with a covered patio, pavers, and low-maintenance artificial turf. Make this exceptional home yours toda

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