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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43809 W Avalon Drive Tonopah, AZ 85354

$650,000
4 Beds
2 Baths
2,734 SqFt
Status Active
MLS # 6780132
Property Type Single Family Residence
Price Type --
This is the kind of property that everyone is looking for when searching for country life at its finest! Amazing floor plan with 4 large bedrooms and 2 full baths, plus an absolutely amazing game-room/media-room that has its own exterior doors to darling patio! Wonderful for entertaining guests! All new flooring throughout entire home, ceramic tile in living areas and luxury vinyl plank flooring in bedrooms. New interior paint and new exterior paint! Cozy fireplace that is the focal point for the open living-room and kitchen. But wait..theres more! Lets step outside to the mountain views that will blow you away! Literally ride out into the sunset! Fully fenced 2 acres perfect for the furry friends! Now the shop! The shop was just built in 2023. 2400 sqft. 7 vehicles can fit. Mezzanine! Mezzanine has stairs with gradual rise 6 for every 12 forward to ease when carrying heavy items up and down. There is a 30 amp, 50 amp, and (2)-20 amp sockets. (2) 10x10 doorways and 12x14 high RV door. 14' tall doorway has rollup door. Fully insulated. Hardwired internet in Garage. Heavy I-beam designed for hoisting. 2 large ridge vents. Garage will hold 4 cars and an RV, plus still has room for 22x27 shop space. The water well is owned, NOT shared with somebody else. The garage includes nearly 4,000 SF of storage space (2400 SF on the ground and 1600 SF in the mezzanine). It is designed so the ground floor has room for 4 vehicles plus a 30-foot motor home, and even with 4 cars and the motor home inside, there is still room for a shop area of about 22' x 27', and if a person does not have a motor home, they could put in a lift and use that spot as an auto service bay which would be 16' x 30', with a 14' clearance (to the bottom of the truss). With the additional 1600 SF of mezzanine storage above, this is the equivalent of a much larger home (whatever does not fit in the house can be put in the mezzanine). The flooring in the bedrooms is NOT wood laminate--it is the much more expensive and functional LVP (Luxury Vinyl Planking) (water proof and scratch resistant, unlike laminate flooring). This has a much better location than many properties in Tonopah. Only a few minutes to the freeway (where gas and food services are also available). The road is nicer than many (no washboard here) and the property is at the end of the road, so there is no traffic, and it is much more secure than if drivers were moving past your home on a regular basis. It is very private, with no nearby neighbors. There is a BEAUTIFUL view of rugged Saddleback Mountain, which is very close to us. The sunsets and lightning shows are mind-blowing. It is also important to note that, IN ADDITION to being able to park a 30' motor home inside the garage, with pop-out extended, and electrical hook-up, there is ANOTHER motor home parking spot beside the house, with full hook-ups that include 30/50 amp electrical, septic, and water.

12446 W Via Caballo Blanco -- Peoria, AZ 85383

$650,000
4 Beds
3 Baths
2,375 SqFt
Status Active
MLS # 6750137
Property Type Single Family Residence
Price Type --
BETTER THAN NEW! Beautiful 4 bedrooms, 3 bathrooms + a bonus/flex room! Professionally landscaped & lighted, artificial turf, gas fire pit, Over $30,000 spent on professional landscaping! Overhead storage in 3 car tandem garage with WI-FI opener, tankless water heater, 5 BURNER GAS STOVE,, 48'' cabinets, pantry, Quartz, hanging pendant lights, high 10' ceilings, extra tall 8' panel doors, ceiling fans, dual pane, sunscreens, smart thermostats, LED's t/o, Ring*, custom security screen door, keyless Wi-Fi door lock. Split floorplan, Primary bath boasts large shower & 2 walk-in closets, double vanities. Whole-house fire sprinklers, rain gutters, Awesome location next to greeenbelt. APS is $127/month on equalizer plan. Easy commute to TMSC plant and a short drive to the new Fry's Marketplace set to open Nov 6th! Also enjoy convenient access to upcoming high-end retail and dining options at Five North, along with additional shopping and restaurant areas that are breaking ground nearby. This Aspen floor plan is a version of Lennars NEXT GENERATION HOMES, It has a wing of the home that has 2 bedrooms a bath and a flex room that could be a TV room and mini kitchen with a microwave or toaster oven, the only thing it doesn't have that next gens do is the door that locks between the sections.

3823 N 8th Street Phoenix, AZ 85014

$650,000
4 Beds
3 Baths
1,838 SqFt
Status Active
MLS # 6614730
Property Type Single Family Residence
Price Type --
Seller carry. Interest rate 3.75 Seller is requiring 10.5 percent down. This home is also ideal for the investor that caters to traveling nurses. Minutes away from Phoenix Children's Hospital. The main home has three bedrooms, two baths. With a very private studio apartment one bedroom with a kitchenette along with separate entrance. The property has been remodeled extensively new roof, new windows, fresh paint along with completely remodeled kitchen and bathroom. Flooring in the main house just completely redone with new Sub floor and vinyl plank flooring. Garage set up as a huge game room that can easily be converted back to a double car g Owner to give a credit or paint the themed rooms.

3131 N Central Avenue Unit 3018 Phoenix, AZ 85012

$650,000
2 Beds
2 Baths
1,419 SqFt
Status Active
MLS # 6621435
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. 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.

16210 E Links Drive Fountain Hills, AZ 85268

$650,000
2 Beds
2 Baths
1,878 SqFt
Status Active
MLS # 6658826
Property Type Townhouse
Price Type --
Welcome to the prestigious private FireRock Country Club community. This perfect turn key unit with absolutely zero steps is located in the heart of the community. Brand new AC unit (2 months old), new hot water heater, and water softner along with new induction stove. Shades and blinds throughout this unit filled with natural light. Built in shelves in office along with recessed lighting throughout. Wood laminate flooring throughout and security door entry. Built in bar for entertaining your friends and family. Why live somewhere looking at a block wall? Live life with a view! This one will not last long.... its turn-key ready!

5530 S 111th Street Mesa, AZ 85212

$650,000
4 Beds
3.5 Baths
2,715 SqFt
Status Active
MLS # 6685047
Property Type Single Family Residence
Price Type --
Welcome Home! Look no further, this beautiful property will check all your boxes! Oversized modern property situated on an large lot in Bella Via. Step inside this beautifully upgraded home and fall in love with its open spaces, including 4 bedrooms, 3.5 bathrooms, large living areas, dining room and a private study. Two master bedrooms( one downstairs and second at the upper level)perfectly designed for privacy. Large loft area, great for entertainment. Covered patio is perfect for outdoor dining and the built-in barbecue makes it easy to cook up a feast. Modern fireplace and movie projector are perfect for cozying up on relaxing nights.

5734 S Veneto -- Mesa, AZ 85212

$650,000
5 Beds
3 Baths
2,952 SqFt
Status Active
MLS # 6717738
Property Type Single Family Residence
Price Type --
PRICED $50k BELOW the competition and the cost to build this home brand new. Why wait 6+ months for build time when you can move in NOW??? This NEW home boasts endless upgrades and high end finishes throughout. The heart of the home, the kitchen, is designed for both beauty and functionality. With high-end appliances, ample counter space, and elegant cabinetry, it's a chef's dream come true. This home has also just undergone a thorough inspection by a trusted third party for the one-year builder walkthrough. A transferable builder warranty, ensuring continued satisfaction for years to come is also included. Outside, the possibilities are endless in the backyard, awaiting your personal touch to transform it into your dream oasis. Don't miss out on the BRAND NEW GEM!! Whether you envision a serene retreat with lush landscaping or an entertainer's paradise complete with a pool and outdoor kitchen, this space is primed for your imagination. Experience luxury living at its finest in this meticulously crafted home, where every detail has been thoughtfully considered for both style and practicality.

4252 E Desert Sky Court Cave Creek, AZ 85331

$650,000
3 Beds
2 Baths
1,782 SqFt
Status Active
MLS # 6733020
Property Type Single Family Residence
Price Type --
Your new home in the gated community of Ocotillo at Dove Valley Ranch is sure to check all the boxes! Meticulously maintained, this single-level gem has a private pool, three bedrooms, a versatile den option, a split-great room floor plan, and beautiful desert wash & sunset views from the back. Interior features include neutral tile flooring & carpet in the bedrooms, granite kitchen countertops, stainless appliances, a pantry, and vaulted ceilings. The backyard is perfect for entertaining with a sparkling pool, a covered patio, and views of the natural area open space. The home's exterior was painted April 2024; plus, there are no two-story homes around for ultimate privacy! Beyond your new home, enjoy all Dove Valley Ranch has to offer: one of North Phoenix's finest public golf courses, a clubhouse bar/lounge, and easy access to first-rate schools, parks, hiking, shopping, & more.

4719 E Rockledge Road Phoenix, AZ 85044

$650,000
4 Beds
2.5 Baths
2,342 SqFt
Status Active
MLS # 6727468
Property Type Single Family Residence
Price Type --
Come and see this gorgeous 4 Bedroom 2.5 Bathroom Home with Sparkling Pool and 3 Car Garage located in the popular Desert Breeze neighborhood in the heart of Ahwatukee! The home has been nicely appointed with designer finishes and paint schemes. Recent updates and upgrades include a complete master bathroom remodel in 2023 including a new soaker tub, custom vanity w/ soft close drawers and quartz countertops, new shower with frameless glass enclosure. New AC in 2022, new pool pump and artificial turf in backyard in 2024, all new stainless steel appliances as well as new washer and dryer in 2022 and new water heater in 2021! The home boasts a true pride of ownership through and through! Located in close proximity to excellent shopping, restaurants, and entertainment,. Easy access to numerous freeways and is just a short drive to Sky Harbor Airport and numerous employment corridors. Located in the highly rated Kyrene School District and NO HOA!

5674 N 12th Street Phoenix, AZ 85014

$650,000
2 Beds
2 Baths
2,404 SqFt
Status Active
MLS # 6729008
Property Type Townhouse
Price Type --
Completely renovated single-level, open contemporary floor plan, with 2 huge bedrooms & bathrooms in North Central Phoenix. Everything has been updated from electrical, plumbing, HVAC, roof, & beautiful new landscaping. High End upgrades include chef's kitchen with huge island, quartz countertops, custom cabinets, porcelain tile flooring, soundproof windows with blackout shades. Relax in either the front patio with soothing waterfall fountain or private & spacious back patio with glass firepit. Immaculate and meticulously maintained. Prime Central Phoenix location with top rated Madison school districts, close to Biltmore high end shopping and top rated restaurants, hiking & biking trails, within Eruv. No HOA - would make an amazing primary residence and/or long or short term rental!

4323 N 129th Drive Litchfield Park, AZ 85340

$650,000
5 Beds
3.5 Baths
4,623 SqFt
Status Active
MLS # 6732968
Property Type Single Family Residence
Price Type --
This palatial estate in the exclusive Bel Fleur gated community is a must see! Within the 4,623 sq ft of this vast home, you will find 5 bedrooms, 3.5 bathrooms, a luxurious open kitchen, separate formal living and dining spaces, a sizable family room, and a spacious loft. The home features ample natural light, soaring ceilings, 3 fireplaces, new A/C units in 2023, and tasteful touches throughout. The primary suite is located downstairs, with double sinks and separate tub/shower in the bathroom, and an expansive walk-in closet. The 3 car garage has abundant space. The home backs to common area and offers a quiet retreat from the city while still being just a short drive to the Wigwam, golf, restaurants, parks, schools, and everything that Litchfield Park has to offer. Priced to sell now!

20857 E Arrowhead Trail Queen Creek, AZ 85142

$650,000
4 Beds
3.5 Baths
2,325 SqFt
Status Active
MLS # 6735444
Property Type Single Family Residence
Price Type --
Welcome home! Right in the heart of Queen Creek, just minutes from Queen Creek Marketplace, Costco and all of the shopping and entertainment that Queen Creek has to offer as well as quick freeway access. This gorgeous 4 bedroom, 3.5 bathroom home has been beautifully upgraded. Outdoor areas includes a large side patio with pavers and the backyard features a heated pool and spa that is perfect for swimming and entertaining all year long. Interior features tile flooring, a gourmet kitchen with quartz countertops and under cabinet lighting! The living room features a custom entertainment center with an electric fireplace as well as automated shades for the rear sliding door. You must see this home to appreciate its beauty!

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