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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6231 E Kelton Lane Scottsdale, AZ 85254

$660,000
2 Beds
2.5 Baths
2,037 SqFt
Status Active
MLS # 6756144
Property Type Single Family Residence
Price Type --
Single level Open Floorplan in a Highly Desirable Neighborhood. This 2037 sq ft Patio Home offers Two Primary Bedrooms and an additional Den with half bath. Eat-in Kitchen, Formal Dining, and large Great Room with Fireplace, Wet Bar and access to a private patio with gated access to the expansive grassed common area. Second bedroom features en-suite bath. Recent remodel includes new energy efficient Windows, Window Coverings, All new Stainless Steel Appliances, Roof, Gutters, Water Softener, Reverse Osmosis, and complete remodel of guest suite bathroom. North South exposure. Quiet well manicured neighborhood with community pool and walking paths. Lots of storage.

1251 E Parkview Drive Gilbert, AZ 85295

$660,000
4 Beds
2.5 Baths
2,237 SqFt
Status Active
MLS # 6765501
Property Type Single Family Residence
Price Type --
WOWZA! Newly remodeled, fantastic home in Spectrum has everything! Offering 4 beds, 2.5 baths, 3 garage spaces including tandem, & a manicured landscape. Inviting interior showcases tons of natural light, designer paint, & wood-look flooring t/out. W/a large living/dining room & an open-concept family room, you have spaces for relaxation & gathering. The impressive kitchen boasts SS appliances, granite counters, a pantry, ample cabinetry, track lighting, & a 2-tier peninsula w/breakfast bar. The master bedroom is downstairs! It features an ensuite w/two vanities, separate tub/shower, & a walk-in closet. Secondary bedrooms & a versatile loft await upstairs. Enjoy the spacious entertainer's PRIVATE backyard with a covered patio, built-in BBQ, synthetic & natural lawns, and a sparkling pool!

3076 Summer Loop Forest Lakes, AZ 85931

$660,000
3 Beds
2.5 Baths
1,946 SqFt
Status Active
MLS # 6771049
Property Type Single Family Residence
Price Type --
Beautifully quaint and absolutely perfect cabin on a hilltop lot in Forest Lakes! Walk in to a spacious family room with soaring windows filling the room with soft natural light and wood burning stove/fireplace. The open floor plan opens to a cozy kitchen with eat in dining and separate oversized pantry/mudroom. Master suite is on the main level with a walk-in closet and on-suite bathroom. Upstairs features a landing overlooking the family room and 2 oversized bedrooms. Covered front and back patios make family gatherings or just enjoying the pines the perfect place to be. Easy drive up blacktop driveway w/ chip-seal coat. Several parking options and detached garage with laundry room. 1 acre lot features pine trees, aspen, apple and plum trees! Property sold fully furnished with all decor

13060 E Too Broke Lane Florence, AZ 85132

$660,000
5 Beds
4 Baths
2,786 SqFt
Status Active
MLS # 6782038
Property Type Single Family Residence
Price Type --
Welcome to this exceptional property, where luxury meets functionality on a sprawling 1.25-acre lot complete with a detached full casita! As you arrive, you'll immediately appreciate the inviting curb appeal, showcasing elegant stone accents and tasteful siding details that beautifully frame this stunning home. Stepping inside, you're welcomed by a charming entrance hall with board and batten walls, setting the tone for this exquisitely designed space. The main living room, bathed in natural light, boasts vaulted ceilings, recessed lighting, and a stylish electric fireplace with black shiplap detailing and a wood mantel for added warmth. Open to the living room, the kitchen is a true showstopper, featuring sleek open shelving, an island wrapped in black shiplap, modern pendant lighting, a single basin e-granite sink with reverse osmosis, and white shaker cabinets complemented by a timeless tile backsplash. The primary suite is a sanctuary of upgrades, highlighted by a black shiplap accent wall, built-in cabinets, and open shelving. Enter the luxurious primary bath through a custom black barn door and find white shaker cabinetry with black hardware, quartz countertops, a spa-inspired shower tiled to perfection, and an oversized walk-in closet that provides ample storage. Each additional bedroom is thoughtfully designed with comfort in mind, and one even includes a walk-in closet. The true gem of this property, however, is the guest homea 650+ square foot retreat with a full kitchen outfitted with white shaker cabinets, a single basin sink, and a comfortably-sized primary suite. The guest bathroom shines with a zero-entry walk-in shower, tiled to the ceiling for a sleek, modern look. The guest home also includes an extended one-car garage with additional storage space. Outdoors, this property is an entertainer's dream! Enjoy artificial turf, an extended paved patio, and a 40-foot storage container with its own attached covered patio, providing endless possibilities for storage or workspace. With ample room to add even more personal touches, this property offers the perfect balance of indoor luxury and outdoor potential. This extraordinary home is ready to be your personal haven!

27789 N 129th Lane Peoria, AZ 85383

$660,000
3 Beds
2 Baths
2,111 SqFt
Status Active
MLS # 6779627
Property Type Single Family Residence
Price Type --
Trilogy at Vistancia is one of the nicest and most sought after communities in all of Arizona and then to top it off we are bringing you the best floor plan to boot. Make sure to put this one on your list to tour! The home is impeccably maintained, truly move in ready and features 2 bedrooms (plus den/3rd bedroom), 2 bathrooms, 2.5 car garage, stunning front courtyard, expansive rear patio with hot tub and TV mounts. You are buying more than a HOME...you are buying a luxury lifestyle. This home is conveniently located just off the 303 freeway, 8 minutes to TSMC, neighborhood shopping/restaurants, Target, Home Depot, Costco are all closeby. Trilogy amenities include 2 Luxurious Clubhouses (Kiva Club & Mita Club), 3 pools, championship golf course, PICKLEBALL, tennis, arts, crafts, exercise

631 S Lanus Drive Gilbert, AZ 85296

$660,000
4 Beds
2 Baths
2,310 SqFt
Status Active Under Contract
MLS # 6775963
Property Type Single Family Residence
Price Type --
Gorgeous one-story home sitting on a pie-shaped lot of a private cul-de-sac! Upon entering, you'll be greeted by a formal living/dining room, vaulted ceilings, carpet/tile floors, and a large den with double doors. Continue into the family room, boasting a dining area, clerestory windows, and sliding glass doors that merge the indoor/outdoor areas. The kitchen has a subway backsplash, white cabinets, stainless steel appliances, track lighting, quartz counters, and a breakfast bar. In the main bedroom, discover a luxurious bathroom with dual vessel sinks, a glass enclosure raindrop shower, a freestanding tub, and a walk-in closet. The oversized backyard features a covered patio with extended Ramada and pavers, grass, beautiful trees, and convenient storage. This jewel won't last!

7634 E Medlock Drive Scottsdale, AZ 85250

$660,000
2 Beds
2 Baths
1,274 SqFt
Status Active Under Contract
MLS # 6779499
Property Type Single Family Residence
Price Type --
Ultimate designer patio home in perfect Scottsdale location! Reimagined from the ground up. This gorgeous 2 bed, 2 bath home offers soaring ceilings with fireplace and designer touches throughout. New custom kitchen w/large waterfall island, sleek glass appliances, custom range hood. Beautiful floors thru-out this single story w/ modern muted glass interior doors and custom shutters. Roomy resort style primary en-suite offers spa like bath w/ walk-in closet. Spa-styled guest bath. Can purchase fully furnished! Two outdoor patios. Steps from relaxing community pool and spa. 2-car garage w/ epoxy floors. Walk to grocer, Starbucks, greenbelt, canal, Chaparral park. Perfectly located, mins from Fashion Square and Scottsdale's best restaurants. Here's your chance to make this yours. Perfect Location. 5-min walk to grocer, Starbucks, eats, greenbelt, canal bike path. Perfectly located, mins from Fashion Square and Scottsdale's best restaurants, museums, spring training and entertainment.

1917 W Ashland Avenue Phoenix, AZ 85009

$660,000 - 5Br/4Ba -  for Sale in Encanto Estates 3, Phoenix
New
$660,000
5 Beds
4 Baths
1,622 SqFt
Status Active
MLS # 6784348
Property Type Single Family Residence
Price Type --
This beautifully remodeled 5-bedroom, 4-bathroom home is located in a quiet cul-de-sac and features a fully equipped casita with a living room, kitchen, bedroom, bathroom, and carport, offering privacy and versatility. Inside, you'll find brand new white shaker cabinets, a modern kitchen with a new stove and sink, and a bright, open living space. Additional perks include an RV gate in the back for easy access to parking and extra outdoor space, making this home perfect for both relaxation and entertaining. A true gem with plenty of updates, ready to move in!

341 S Tucson Boulevard Tucson, AZ 85716

$660,000
5 Beds
2 Baths
2,252 SqFt
Status Active
MLS # 6650576
Property Type Single Family Residence
Price Type --
In desirable subdivision near the University of Arizona, restaurants, shopping centers, golf course and the Reid Park Zoo, you will fall in love with this stunning mid-century modern full remodel with Split Floor Plan. Approaching the home, you'll notice the Amazing Curb Appeal, Low-maintenance desert landscaping. Perfect for entertaining with an open floor plan which includes: Luxurious Stainless Steel Appliances Kitchen & Large Quartz Island; Antique Glass Mosaic Backsplash with Undermount sink; dining area; Two Seating areas; and two access to the Backyard. Backyard access is also available through the Oversized Master Bedroom with a Large master Bathroom (separate tub/shower), Dual sinks & a Roomy Walk-In Closet.

16308 E Links Drive Fountain Hills, AZ 85268

$660,000
2 Beds
2 Baths
1,878 SqFt
Status Active
MLS # 6680908
Property Type Townhouse
Price Type --
Furnished! Well Cared For Single Level Condo at Balera at Firerock Featuring 2 Bedrooms + Den/Office with Full Size Business Desk That Converts To Queen Sized Murphy Bed, 2 Bathrooms, Gourmet Kitchen with Granite Counters, Island, Newer Appliances and Separate Dining Area. Kitchen Open To Cozy Living Room with Gas Fireplace, Faux Wood Plank & Tile Flooring & Vaulted Ceilings. Spacious Primary Bedroom with Vaulted Ceilings - Main Bath Featuring Soaking Tub, Walk-In Shower, Dual Sinks & Walk-In Closet. Split Floor Plan Guest Bedroom With Access To Guest Bathroom with Walk-In Shower. Upgrades: AC (2020) - Water Heater (2017) - Water Softener (2020) - Washer/Dryer (2021) - Kitchen Appliances (2022) - Patio Drop Shade (2022). Enjoy The Community Pool, Fitness Center & Spa With Amazing Mountain Views Overlooking Firerock Country Club.

14121 W St Moritz Lane Surprise, AZ 85379

$660,000
5 Beds
3.5 Baths
3,675 SqFt
Status Active
MLS # 6700187
Property Type Single Family Residence
Price Type --
This gorgeous home was completely remodeled! 5-bedroom, 3.5-bath home boasts a 3-car garage, RV gate, and elegant stone accents.The living/dining room showcases high ceilings, recessed lighting, a soothing palette, and stylish wood-look flooring. The great room is a warm space for intimate moments with loved ones. Cook delicious meals in the kitchen, equipped with quartz counters, chic shaker cabinetry, trendy pendant lighting, a tile backsplash, SS appliances, a pantry, and an island with a breakfast bar. The den is perfect for an office. You'll also find a quaint loft that adds versatility. The large main bedroom offers plush carpeting, an ensuite with dual sinks, and a large walk-in shower. The vast backyard displays a covered patio & vast space to create your dream oasis. See it today

2524 Old Rim Road Forest Lakes, AZ 85931

$660,000
3 Beds
2 Baths
1,939 SqFt
Status Active
MLS # 6727059
Property Type Single Family Residence
Price Type --
Charming Cabin in Forest Lakes - A Mountain Paradise! Welcome to your dream cabin nestled in the heart of Forest Lakes! This enchanting 3-bedroom, 2-bathroom retreat boasts a large great room with dramatic vaulted ceilings, seamlessly adjoined by a formal dining space featuring a cozy pellet stove. The spacious kitchen is complemented by a large interior laundry room with pantry shelves, providing ample storage and convenience. The cabin's sturdy metal roof and large detached toy garage with a roll-up door and side service door are perfect for housing your side-by-side or boat. Relax and unwind on the expansive covered front patio, surrounded by apple trees laden with fruit, and towering mature blue spruce and Ponderosa pine trees, creating your own private enclave. see more... Equipped with a backup generator and featuring numerous seller-made improvements((see a complete list of seller's improvements below) including foam insulation, new doors to the back patio, and a new 200-amp electric service panel, this cabin is ready for all seasons. Enjoy the proximity to the Sitgreaves National Forest, just a few steps down the trail from your backyard! Forest Lakes, an island in the middle of the forest, is home to the world's largest stand of Ponderosa Pine trees. Residents enjoy a 4-season climate with the best summertime weather, just a scenic 2-hour drive from the Phoenix Valley. Escape the heat and discover the serene beauty of this coveted cabin getaway location. Experience the perfect blend of nature, tranquility, and modern amenities in this exceptional Forest Lakes cabin. Don't miss this rare opportunity to own a piece of mountain paradise! List of Seller's improvements: 2 water heaters replaced 2 years ago New footer around non-concrete foundation with new insulation and sealing done underneath floor All new flooring & carpets New stairs & handrails Foam insulation, drywall and can lighting upstairs New front entry & 2nd bathroom doors Replaced all single pane windows with dual pane Generator purchased 7 years ago (automatic switch) Sealed and foamed connection point between original cabin and add-on Installed linen closet in front bathroom Installed can lighting in dining room/living room area Installed ridge beam & supports Framed out for skylight in 3rd bedroom Replaced window with sliding arcadia door & spray foam leading to backyard Installed pellet stove Grated & pea gravel on driveway 14x20 ATV garage/shed Removed 25 over-crowded trees Removed French doors in Owner's suite & replaced with window & spray foamed wall Ecobee Wi-Fi enabled thermostat & front door monitor

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