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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19606 W Marshall Avenue Litchfield Park, AZ 85340

$650,000 - 4Br/4Ba -  for Sale in Canyon Views Phase 1 Unit 1, Litchfield Park
New
$650,000
4 Beds
4 Baths
3,554 SqFt
Status Active
MLS # 6782789
Property Type Single Family Residence
Price Type --
Nestled in the desirable Canyon Views community, this gently used, meticulously designed home offers an ideal blend of style, function, and comfort, with tasteful custom details throughout! As you enter, you'll be greeted by an open floor plan that seamlessly connects the chef's kitchen to the inviting family room. The kitchen is a dream for any home cook, featuring double ovens, a gas stove top, a large walk-in pantry, and a stunning waterfall edge island. The elegant tile backsplash ties everything together, making this space both beautiful and functional. The family room boasts vaulted ceilings, creating a light and airy atmosphere, and a gorgeous fireplace adds a touch of warmth and sophistication. This multigenerational home is designed for flexible living with a spacious bedroom and full bathroom located on the main floor, perfect for guests or extended family. Upstairs, you'll find a large, versatile loft that can serve as a playroom, office, theater, or additional living space. Two generous-sized bedrooms, a full bathroom, and a luxurious master suite complete the upper level. The master retreat includes double sinks, a walk-in shower, a private toilet room, and a spacious walk-in closet. Step outside to a beautifully manicured backyard, ideal for both relaxation and entertaining. A covered patio and gazebo provide shade for outdoor dining, while the built-in BBQ is perfect for summer cookouts. Artificial grass ensures a low-maintenance, lush landscape year-round. Move-in ready, this home is waiting for its next family to make it their own!

19834 W Rancho Drive Litchfield Park, AZ 85340

$650,000
4 Beds
3.5 Baths
2,605 SqFt
Status Active
MLS # 6780734
Property Type Single Family Residence
Price Type --
ASSUMABLE FHA LOAN AT 4.25%!! Discover luxury living in this turnkey home, thoughtfully designed for elegance and comfort with beautiful views of the White Tank Mountains. Skip the wait to build and dive into an entertainer's paradise, complete with a heated 10-person spa, sparkling pool framed by travertine and artificial turf, and a built-in natural gas BBQ grill, Blackstone cooktop, and sink. The spacious, open floor plan is well lit with additional LED ceiling lights throughout the home and features four bedrooms, three-and-a-half baths, office, and an inviting loft. The gourmet kitchen shines with stainless steel KitchenAid appliances, pristine 42'' white maple cabinetry, soft-close drawers, LED under-cabinet lighting, a tile backsplash surrounding picture windows, and an island with breakfast bar seating. You will love the main-level primary suite offering an elegant ensuite bath with dual sinks, upgraded cabinetry and drawers, an oversized walk-in shower, and a large walk-in closet. Upstairs, you'll find the loft, laundry room, bedrooms 2 and 3 with walk-in closets, and bedroom 4 with its own ensuite bathroom. This remarkable property is ready to welcome you home!

3231 W Folgers Road Phoenix, AZ 85027

$650,000
3 Beds
2 Baths
2,313 SqFt
Status Active
MLS # 6769455
Property Type Single Family Residence
Price Type --
WELCOME HOME!! Beautiful 3-bedroom residence exuding charm! Sweet curb appeal, 2-car garage, and grassy front yard are just the beginning. Discover NEW HVAC (2021), vaulted ceilings, and NEW FLOORING (2021) throughout that give this home a bright, open, and airy feel. Welcoming living/dining room, cozy family room w/surround sound speakers, and roomy den to expand your options for an office or a fourth bedroom. The eat-in kitchen has SS appliances, a huge walk-in pantry, tile counters, white cabinetry, and a center island w/breakfast bar for casual meals. Retreat to the main bedroom to find a private exit to the patio and a lavish ensuite w/dual sinks, a Jacuzzi tub, and a walk-in closet. All bedrooms offer new window treatments (2024)! BACKYARD WAS COMPLETELY TRANSFORMED WITH GORGEOUS HEATED POOL AND HOT TUB INSTALLATION (2022), new plants, drip system, and pavers. Plus, the pool has afternoon shade, a transferable warranty, and removable security fencing. You won't be disappointed! Adobe Highlands is a vibrant, yet quiet place to live with PASEO HIGHLANDS PARK a short walk away, offering 6 pickleball courts, baseball fields, basketball courts, playground, and a community center. Don't forget the scenic hiking trails, water park, and great shopping, dining and medical facilities within minutes. EASY ACCESS TO THE LOOP 101, the I-17, and the upcoming TSMC chip manufacturing plant. Delight in the perfect blend of all this beloved home has to offer - don't miss the chance to make it yours today!

36655 N 25th Street Cave Creek, AZ 85331

$650,000
4 Beds
3 Baths
2,350 SqFt
Status Active
MLS # 6702523
Property Type Single Family Residence
Price Type --
Spacious Home/ Great views on private Street on 1.6 acres, 4 beds/3baths, huge room, stunning rock fireplace in wood, big room with sitting rooms views in all directions.

3510 S Verbena Road Casa Grande, AZ 85193

$650,000
2 Beds
2 Baths
1,240 SqFt
Status Active
MLS # 6711471
Property Type Single Family Residence
Price Type --
Unique opportunity! Check out this one-of-a-kind property less than a quarter mile from the Lucid Motors complex. 9.85 acres with a 2 bedroom 2 bath home, detached three car garage, two registered wells, a mobile home pad and a barn. Lots of possibilities for this property, what could you do with it?

1208 W Random Way Payson, AZ 85541

$650,000
2 Beds
2 Baths
2,282 SqFt
Status Active
MLS # 6724003
Property Type Single Family Residence
Price Type --
For a quiet retreat with space to spread out on close to an acre. Need a place to park your RV? This home has plenty of room with the 2 car garage attached to the house and an additional 2 car garage/shop in the out building. Add to that a set up for covered RV parking. We have you covered...Don't forget the park and golfing down the street. Newly painted throughout with new flooring in kitchen, great room and hallway and new carpeting in bedrooms. New chain link fence as well. Green Valley Park and Payson Golf down the street. Take a peek in the utility room and see another storage area.....

21545 S Camas Way Florence, AZ 85132

$650,000
2 Beds
2 Baths
1,971 SqFt
Status Active
MLS # 6737943
Property Type Single Family Residence
Price Type --
Magical Property! This beautiful rustic home is built with burnt adobe and is set on 10 acres adorned with majestic saguaros. There are views for miles, a wrap-around porch that you can sit and observe the local wildlife, and marvel at breathtaking views and spectacular sunsets. This home has stunning floors, gorgeous architecture features such as arched windows and doorways. The cozy the living room has a wood plank ceiling, exposed wood beams, a wood burning fireplace as well as a wood burning stove. The bathrooms even have lots of details you don't want to miss right down to the bronze faucets and designer towel bars. Come and explore the beauty of your next home.

2600 E Summer Loop Forest Lakes, AZ 85931

$650,000
2 Beds
1.5 Baths
1,725 SqFt
Status Active
MLS # 6778410
Property Type Single Family Residence
Price Type --
Nestled atop the majestic Mogollon Rim, this exquisite A-frame cabin in Forest Lakes Estates beckons those seeking an escape from the quotidian.This gem will be coming soon to the market and is a mere two-hour scenic drive from Phoenix, offers a tranquil retreat where temperatures graciously dip 30-50 degrees below the valley's swelter. The property's 1,726 square feet of tastefully updated living space unfolds like a carefully curated narrative. Expansive picture windows frame nature's ever-changing landscape, while the eat-in kitchen features stylish upgraded granite counters and endless pantry/storage options. The main floor houses two spacious bedrooms and a bathroom, while the upper level reveals a sleeping loft complete with a playful nook and generous storage. Outside, the grounds are a testament to thoughtful landscaping. Verdant grass intermingles with ferns, while carefully cultivated bulbs and lilacs perfume the air. Majestic lilies stand sentinel along the home's façade, their regal presence complemented by nature's own sculpture garden of boulders. Entertainment options abound with dual fire pits, a pergola, and a whimsical tree fort. The extra depth two-car garage conceals a surprise - a game room/bunkhouse, perfect for hosting soirées or accommodating overflow guests. The garage also has laundry area and could also be converted a tandem 4 car garage. Storage Shed conveys too for additional storage. Seller has done updates from, flooring to lighting and done all the important updates: electrical, plumbing (PEX), and added forced air heating system. Forest Lakes, an idyllic community free from HOA constraints, boasts several trout-stocked lakes and a vibrant, welcoming atmosphere. The voluntary FLOA fosters a sense of camaraderie through community events and a shared gathering space. This exceptional property, priced at market value, promises not just a home, but a legacy of cherished memories amidst the towering Ponderosa pines. Seize this opportunity to elevate your lifestyle and immerse yourself in the lap of nature's luxury.

917 S Montezuma Avenue Phoenix, AZ 85003

$650,000
5 Beds
4 Baths
2,880 SqFt
Status Active
MLS # 6762354
Property Type Single Family Residence
Price Type --
Fantastic opportunity for Multi-Generation Home or a multi-unit Income Producing Investment Property in Central Phoenix! Beautifully updated Main Residence with 2 bedrooms & Ensuite Baths, Large Loft has cityscape & mountains views. Attached to Main House is a 1 bed/1 bath Apartment with separate entrance & patio. Property also has Casita / Guest House on separate meter featuring stunning updated kitchen, 2 beds/1 bath, laundry and private patio. Both Studio & Additional Home previously used as income producing short term rental units. Do not miss out on this unique opportunity close to City Central dining, shopping, events, and transportation!

19700 N 76th Street Unit 2047 Scottsdale, AZ 85255

$650,000
3 Beds
2 Baths
1,729 SqFt
Status Active
MLS # 6751050
Property Type Apartment
Price Type --
Discover a rare opportunity to own a stunning residence in the highly sought-after gated community of Grayhawk Village. This exceptional 3-bedroom home offers breathtaking panoramic views of the McDowell Mountains, along with iconic Tom's Thumb, creating a serene backdrop for your daily life. Inside, the spacious floor plan includes an open kitchen that overlooks the family room and dining room. The generously sized primary and secondary bedrooms offer both comfort and convenience. Step outside onto the expansive outdoor terrace, where lush green grass and mature trees provide an oasis of privacy and tranquility. Whether you're sipping your morning coffee or entertaining guests, this space is your personal retreat. The community itself is rich with amenities, featuring tennis courts, heated pools, relaxing spas, a championship golf course, and Pickleball courtsideal for an active and vibrant lifestyle.This home is more than just a place to live; it's an invitation to experience the best of Scottsdale living in one of the most extraordinary locations Grayhawk Village has to offer.

13399 W Tyler Trail Peoria, AZ 85383

$650,000
5 Beds
3 Baths
3,423 SqFt
Status Active
MLS # 6751314
Property Type Single Family Residence
Price Type --
Unbeatable 5 bedroom floorplan with extensive upgrades! This spacious home offers a formal living/dining, plus expansive greatroom layout at the back of the house, featuring gourmet kitchen with granite counters and staggered cabinetry, huge island with breakfast bar, dining room with bay window, and spacious living room. One bedroom and remodeled full bath downstairs, along with laundry. Enormous primary suite is upstairs along with 3rd full bath (also renovated), and 3 more bedrooms, each with walk in closets. Walnut finished plank flooring downstairs and plush carpet upstairs. Oversized premium lot with no rear neighbors. Extended back patio, grass area surrounded with curbing, rock accents, and mature plants/trees. Plenty of parking with 3 car garage and triple driveway.

11000 N 77th Place Unit 2085 Scottsdale, AZ 85260

$650,000
2 Beds
2 Baths
1,571 SqFt
Status Active
MLS # 6752086
Property Type Townhouse
Price Type --
Experience modern living in the gated Sovanna Condominiums at Scottsdale Country Club! This charming unit offers 1651 sqft with 2 beds, 2 baths, & a 2-car garage. Home exudes elegance with plantation shutters, neutral paint, tons of natural light, and tasteful flooring - tile & plush carpet. You'll love the inviting great room that seamlessly blends the main areas, adorned w/gas fireplace! The impressive kitchen boasts granite counters, a pantry, track lighting, designer backsplash, ample wood cabinetry, and a 2-tier peninsula w/breakfast bar. The den provides versatility! Primary bedroom is a true retreat, featuring an ensuite with dual sinks, separate tub/shower, & a walk-in closet. Multiple sliding doors open to two cozy balconies, one of which overlooks the common area! Make it yours!

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