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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2890 E Fandango Drive Gilbert, AZ 85298

$660,000
4 Beds
3 Baths
2,573 SqFt
Status Active
MLS # 6729334
Property Type Single Family Residence
Price Type --
Charming 4 bed, 3 bath, with a Den Home with a Low-Maintenance Backyard and Modern Upgrades. Welcome to this delightful residence that combines comfort, style, and convenience. Nestled in the prestigious neighborhood of Seville, this home offers the perfect blend of functionality and aesthetics. Step inside to discover an open-concept layout flooded with natural light. The living room seamlessly flows into the dining area and kitchen, creating an inviting space for entertaining. Retreat to your private sanctuary. Recently updated master bath boasts a spa-like feel with a walk-in shower, dual sinks, soaking tub and a huge walk in closet big enough for everyone's clothes. Spend more time enjoying your backyard and less time on yard work with drought-tolerant landscaping, a cozy patio, and space for outdoor gatherings. Close to parks, shopping centers, and major highways, this property offers easy access to everything you need. This home will not last long!

1813 E Patrick Lane Phoenix, AZ 85024

$660,000
3 Beds
2.5 Baths
2,677 SqFt
Status Active
MLS # 6742740
Property Type Single Family Residence
Price Type --
Beautiful home in highly desirable Eagle Bluff! Formal living and dining areas welcome guests to this magnificent home. Kitchen has been redesigned with large custom island, stainless steel appliances and an abundance of storage all open to large family room great for entertaining! Upstairs features oversized loft, large master suite and spacious additional bedrooms. In addition to large patio, low maintenance yard features custom gazebo with lighting, ceiling fan and built in bbq. Garage features built in cabinets and additional storage shelf. High end iron work featured both inside and out! This great property is minutes from shopping, schools, freeways and restaurants.

36601 N Mule Train Road Carefree, AZ 85377

$660,000
2 Beds
3 Baths
1,970 SqFt
Status Active
MLS # 6747936
Property Type Townhouse
Price Type --
Very nice downstairs condo in a beautiful well kept gated community. It features 2 large bedrooms, 3 full baths and a den/office. Newer tile, SS appliances and A/C in the larger part of the condo. 2 covered patios to enjoy your morning coffee. This is a great place to live! Social events at the clubhouse all the time from Fall to Spring! Beautiful pool area with a hot tub and waterfall. Come check it out!

7033 N 16th Place Phoenix, AZ 85020

$660,000
3 Beds
2.5 Baths
1,958 SqFt
Status Active
MLS # 6778426
Property Type Single Family Residence
Price Type --
Find the perfect balance of modern convenience and serene living in this beautifully remodeled North Central patio home, nestled within the highly sought-after Monteil Townhomes community. Built in 1998 and thoughtfully updated, this 3-bedroom, 2.5-bath retreat features vaulted ceilings in the entry, den, and family room, creating an inviting and spacious atmosphere. Recent upgrades include a new roof and air conditioner (2020) and updated stainless steel appliances, making the timeless kitchen a cooking sanctuary with custom cabinetry and a handy eat-in space. The third bedroom doubles as an ideal home office, perfect for today's work-from-home lifestyle. The backyard, with its tranquil fountain and paver walkway, offers a peaceful escape, easily accessible from both the primary bedroom and the living area. Storage is ample with a two-car garage equipped with built-in cabinets. Monteil Townhomes are rarely available, and this gem offers lush patios, abundant natural light through large windows and skylights, and easy access to the Arizona Canal Trail just steps from your door. Whether you're an outdoor enthusiast or someone who appreciates proximity to dining and shopping, this home provides it all.

6411 S River Drive Unit 21 Tempe, AZ 85283

$660,000
2 Beds
3 Baths
2,437 SqFt
Status Active
MLS # 6755605
Property Type Townhouse
Price Type --
Wow! Big price adjustment! Motivated Seller, lets get it sold! This is a beautiful and spacious townhome in the best kept secret community in Tempe! The Cottonwoods is a small community of 68 homes in the heart of Tempe, near all of the Valley's venues. The quick access to the freeway opens up the whole Valley to you in minutes, no matter where you may be headed, the airport is 12 minutes away. This home has 2 nice patio areas, 2 master bedrooms, a loft upstairs that is large enough for an office and or murphy bed set up for unexpected guests. So many custom touches are added into this home, you must come see. all furniture that is currently in the home can convey with home.

4133 E Sidewinder Court Gilbert, AZ 85297

$660,000
4 Beds
2.5 Baths
2,502 SqFt
Status Active
MLS # 6756461
Property Type Single Family Residence
Price Type --
New Paid Solar! New pool, New AC, New flooring, New windows, New patio doors, granite countertops, extended kitchen island, stainless steel appliances, a tiled backsplash, and wine fridge. New non slip floors, and carpet. This 4 bedroom, 2.5t bathroom home in the heart of the coveted community of Power Ranch has been remodeled and upgraded from top to bottom w/ over $130k in upgrades. Has ample kitchen storage, a custom living room fireplace and spacious living areas. The oversized primary bedroom suite is complete with an extended private balcony, his and hers vanities, a huge soaking tub, a tiled walk-in shower and plenty of closet space. Enjoy the extended covered patio, crystal blue pool and spa, low maintenance landscaping, a built-in fire pit and relaxing seating under the pergola Upgrades on Home

1372 E Carla Vista Drive Chandler, AZ 85225

$660,000
4 Beds
3 Baths
2,676 SqFt
Status Active
MLS # 6763242
Property Type Single Family Residence
Price Type --
Beautifully updated 4 bedroom, 3 bath home with a pool in a prime Chandler location—no HOA! With a new roof, high-efficiency HVAC units, and solar, this home is a must-see. It boasts a formal living and dining area, a spacious family room with a gas fireplace, flowing into a large kitchen with an island breakfast bar, eat-in area, ample cabinets, and granite countertops. The main floor includes a bedroom/office and a full bathroom. Upstairs, you'll find two generous bedrooms and a primary suite featuring double sinks, a separate tub and shower, and a walk-in closet. The backyard is an entertainer's dream, offering a large covered patio, sparkling pool, beautiful grass, built-in BBQ, and a beehive fireplace. Additional highlights include a 3-car garage with built in cabinets and a drive-through door to the backyard to an extended concrete pad. Conveniently located just a short walk from Pima Park, award-winning BASIS school and Sanborn Elementary schools minutes away, close to Intel, Wells Fargo Center, and Downtown Chandler.

7908 W Rose Garden Lane Peoria, AZ 85382

$660,000
4 Beds
2 Baths
2,334 SqFt
Status Active
MLS # 6772892
Property Type Single Family Residence
Price Type --
Nestled in the desirable Fletcher Heights Great corner lot with 4 bedrooms and a large den with beautiful french doors. The back yard is your private oasis retreat perfect for relaxing or entertaining! The kitchen has stainless appliance package, gorgeous quartz counters, a huge island, and painted cabinets with hardware! Split floorplan with Large primary bedroom with double doors opens to the primary bathroom that has a separate tub and shower and upgraded counters, door going to the backyard Wood looking tile flooring in the bedrooms accents the upgraded baseboards. New roof in 2020! A few miles Arrowhead shopping and dining.

4015 E Longley Drive Flagstaff, AZ 86004

$660,000
3 Beds
2 Baths
1,520 SqFt
Status Active Under Contract
MLS # 6720299
Property Type Single Family Residence
Price Type --
Welcome to this totally remodeled home. Situated in the tranquil Fox Glenn neighborhood on a cul-de-sac. This home offers a perfect blend of comfort and convenience. The well-appointed kitchen is equipped with modern appliances, newer hard surface counters and a large breakfast bar providing an ideal space for cooking enthusiasts. Walk into the living room with its Spanish Arches giving it a feel of modern luxury equipped with a wet bar and a fireplace. A nice size Primary suite with 2 closets. Both bathrooms are remodeled. The large back yard with a newer covered patio perfect for grilling. New driveway and all new exterior paint and siding in 2022. Located by Fox Glenn Park and walking distance to schools. This is a must see! Also a covered Front Porch for Mountain View

22834 N 24th Street Phoenix, AZ 85024

$660,000
4 Beds
2.5 Baths
2,145 SqFt
Status Active Under Contract
MLS # 6756465
Property Type Single Family Residence
Price Type --
Beautifully updated 2-story home featuring 4 bedrooms, a loft, 2.5 bathrooms, and a 2-car garage. Enjoy the privacy of a gated pool and spa with no neighbors behind. The spacious master suite is filled with natural light and boasts a sliding barn door leading to the ensuite bathroom, which includes dual sinks, a large glass shower, and a walk-in closet. The open-concept family room offers ample living and dining space, flowing seamlessly into the kitchen with an island, stainless steel appliances, counter-to-ceiling tile backsplash, and a large walk-in pantry with a butler's pantry. Additional highlights include a convenient downstairs laundry room with extra storage and unique yellow metal lockers. Located near the shopping & dining of Desert Ridge & High Street, this home is also steps away from Mountain Trails Middle School and Boulder Creek Elementary, both top PV School District school. Move-in ready and designed for modern living!

1176 E Erie Street Gilbert, AZ 85295

$659,999
4 Beds
2 Baths
2,136 SqFt
Status Active
MLS # 6753945
Property Type Single Family Residence
Price Type --
This 4-bedroom, 2.5-bathroom gem in the heart of Gilbert is MOVE IN READY with a NEWER AC and NEWER hot water heater, giving you serious energy savings! Step inside and prepare to be wowed by the open-concept living area - perfect for all the cozy nights in or lively get-togethers! The gourmet kitchen has granite countertops, modern white cabinets, HUGE pantry and a big island. But the real showstopper? The backyard! This outdoor space is next level. With a fenced pool, TWO outdoor sheds, an outdoor bar and grill and a covered patio! & don't forget about the the garage with built-in cabinets! Plus there's a laundry room just off the entrance with a built-in beverage fridge! Located in a prime Gilbert neighborhood with easy access to top schools, shopping, and dining.

9390 Mead Lane Snowflake, AZ 85937

$659,995
6 Beds
4 Baths
2,624 SqFt
Status Active
MLS # 6731913
Property Type Manufactured Home
Price Type --
Wow! Check out this opportunity! 2 homes on 80 acres fully off grid and self sustaining. The PRIMARY HOME offers 1568 square feet of living space with 3 bedrooms and 2 bathrooms. Floors recently upgraded to vinyl plank throughout. Split bedroom floor plan. Kitchen features hickory cabinets, granite counter tops, large kitchen island, farm sink and NEWER gas stove. Primary home is powered by 30 solar panels which is sustained by banks of lithium batteries. In addition to a 2 car masonry garage, the primary home also features a single car Graceland garage, a 14 X 40 carport and a 10 x 20 Graceland Lofted Barn Cabin for extra storage. The GUEST HOME offers 1056 square feet of living space with 3 bedrooms and 2 bathrooms. See additional description. The living space is bright and airy and features a split bedroom floor plan and breakfast bar. Guest home is powered by 25 solar panels and sustained by banks of 12 AGM Maintenance Free batteries. 1 private well services both homes. Another private well is located on the upper 40 acres and is currently being used for their cattle. Property can be split and has passed a perc test. See document file. Power is also located nearby if you would prefer that option. This property would be perfect for multi-generational housing or could use guest home as rental income! Property is all off-grid but only 10 miles from town. Best of both worlds!

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