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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5862 N 86th Drive Glendale, AZ 85305

$650,000
4 Beds
3.5 Baths
2,726 SqFt
Status Active
MLS # 6765318
Property Type Single Family Residence
Price Type --
Stunning 4-Bed, 3.5-Bath Home Built in 2023 Welcome to your dream home! This exquisite property boasts modern elegance and thoughtful design, featuring high ceilings that create an airy and spacious atmosphere throughout. Step into the heart of the home, where the gourmet kitchen awaits. It showcases top-of-the-line appliances, an expansive island perfect for entertaining, and ample counter space for all your culinary adventures. The open layout seamlessly connects the kitchen to the living and dining areas, ideal for gatherings with family and friends. With four generously-sized bedrooms, including a luxurious master suite with a private bath, there's plenty of space for everyone. The additional bathrooms are beautifully appointed, ensuring comfort and convenience for all. Natural light floods the home through stylish window shutters, adding both charm and privacy. The backyard is a perfect retreat, offering a serene space to relax or entertain. Don't miss the opportunity to own this remarkable home that blends contemporary living with timeless appeal. tour today and experience all that this property has to offer!

19118 E Apricot Lane Queen Creek, AZ 85142

$650,000
3 Beds
2 Baths
1,950 SqFt
Status Active
MLS # 6769026
Property Type Single Family Residence
Price Type --
Welcome to Legado, a premiere community at the heart of Queen Creek. Situated on a private, low maintenance backyard with no neighbors behind. The 3 bedrooms plus den make this pristine, single level home the PERFECT comfort haven. Graciously appointed with wood plank tile flooring, plantation shutters, smudge proof appliances, granite counters, backsplash & gas cooktop. Whole house water filtration, WiFi thermostat. 3 car garage with custom garage storage. A covered patio overlooks a grass backyard with paver seating area & fire pit. Legado features playgrounds, a lighted basketball court, lighted corn hole, splash pad, & more. Convenient to Mansel Carter Oasis Park, QC Marketplace & QC District featuring shopping, entertainment & a choice of 30+ restaurants. Welcome Home!

5222 W Buckskin Trail Phoenix, AZ 85083

$650,000
4 Beds
2 Baths
2,294 SqFt
Status Active
MLS # 6772837
Property Type Single Family Residence
Price Type --
Stunning 4BR/2BA home in STETSON VALLEY! You will be impressed the moment you walk through the front door. Spacious formal living /dining room, kitchen includes granite countertops, SS appliances , Maple cabinets, and large island. Kitchen is open to large family room which is perfect for entertaining. Neutral colors, plank tile flooring throughout home, including the 4 spacious bedrooms. Extended 2 -car garage w/cabineets. Covered patio, firepit with cozy seating, mountain views & mature landscaping. Excellent schools and close to everything.

16600 N Thompson Peak Parkway Unit 1053 Scottsdale, AZ 85260

$650,000
3 Beds
2 Baths
1,674 SqFt
Status Active
MLS # 6774524
Property Type Townhouse
Price Type --
Ground floor unit all one level, city light views, 3 bed, 2 bths, remodeled throughout, quartz countertops, large format tile flooring, shutters in greatroom, gas fireplace, and 2 patios. Steps from community pool, spa and fitness workout room. Walking distance to Basha's Supermarket, restaurants, salons, and animal clinic. Close to hiking trails and golf. Access to McDowell Mtn community pools, including lap pool, spas, tennis and pickleball courts, playground and events. Aquatic center near by with skate park, lap pool and fitness center.

4500 N Paseo De Los Rancheros -- Tucson, AZ 85745

$650,000
4 Beds
2 Baths
2,312 SqFt
Status Active
MLS # 6777821
Property Type Single Family Residence
Price Type --
A beautiful 4 bed, 2 bath residence in Rancho Del Cerro is now for sale! Nestled on a premium corner lot and featuring a low-care landscape, 2 car garage, well-laid pavers, and a welcoming front porch, this is sure to be the home you've been looking for! Inside you will find large dining & living areas w/vaulted ceilings and custom palette throughout. Enjoy quality time w/friends & loved ones in the cozy family room, showcasing exposed beams, elegant wood-look flooring, and a beehive fireplace. The eat-in kitchen offers ample cabinetry w/crown moulding, pendant & recessed lighting, and built-in appliances for all your cooking needs. The primary bedroom boasts soft carpet, private outdoor access, a walk-in closet, and a full ensuite w/dual sinks & a jetted tub. Lastly, the wonderful backyard includes a covered patio, extended seating areas, two lovely pergolas plus a gazebo, artificial turf, a refreshing hot tub, and a sparkling blue pool! What are you waiting for? Act now!

1581 E Del Rio Street Chandler, AZ 85225

$650,000
4 Beds
3 Baths
2,321 SqFt
Status Active Under Contract
MLS # 6694922
Property Type Single Family Residence
Price Type --
Hidden gem nestled in a quiet neighborhood of Superstition Ranch. This gorgeous home features high flat ceiling which instantly makes this home feel more spacious and luxurious. Great layout with 4 bedrooms and 3 full baths, split floorplan with separated master suite . Skylight in formal dinning , spacious kitchen with wine cooler. Home has hard wood, carpet and tile flooring. Backyard oasis is perfect for cooling down in summer time by jumping into the pool or relax in the heated spa. New roof underlayment installed in January. Fresh painted interior and exterior. Home comes with Tesla charging station, makes life easier. Excellent schools BASIS and Legacy Traditional school (North Chandler) both just about 1 mile away. Don't miss this opportunity to own this great home!

12345 W Encanto Boulevard Avondale, AZ 85392

$650,000
5 Beds
3 Baths
3,751 SqFt
Status Active Under Contract
MLS # 6704628
Property Type Single Family Residence
Price Type --
Exquisite 2-story home with a $10,000 seller concession for buyer expenses! All on approx. ¼ of an acre. Stunning 5 spacious bedrooms, 3 luxurious bathrooms, providing ample space! As you enter, you'll be greeted by magnificent wrought iron security doors and double entry front doors, and soaring ceilings. Spacious bedroom downstairs with a full bath adjacent. Gourmet Kitchen with large island, SS refrigerator, granite countertops make it complete. Formal dining and living room with a fireplace provide an elegant and intimate setting. This home offers an amazing loft for additional living space, a built-in desk for a home office, a beautiful balcony overlooking the pool. Spacious backyard with a covered patio, a cabana, a fire pit, a separate storage.

7500 E Deer Valley Road Unit 87 Scottsdale, AZ 85255

$650,000
4 Beds
2.5 Baths
2,371 SqFt
Status Active Under Contract
MLS # 6727580
Property Type Single Family Residence
Price Type --
LONG LIVE SUMMERTIME. This is the perfect setting for the moments that last a lifetime. Need space? This move-in ready home in the popular Arizona Silverado subdivision is the answer. This stunning home welcomes with comfortable, smartly-designed spaces. The kitchen has all the upgrades you want: granite counters, stainless steel appliances, breakfast bar and pantry. You'll love the easy-care engineered wood flooring throughout. The large primary suite has lots of natural light, a walk-in closet and the bathroom has a separate walk-in shower. Everyone loves a loft and this one is quite spacious. If you promised yourself the best in life, you can keep that promise. Move-in ready for a summer full of fun, Arizona-style! Nearby you will find a fun neighborhood park with world-class shopping, dining and medical facilities. Every kind of recreation imaginable awaits. Convenient access to the Loop 101 freeway, you're just minutes from Salt River Fields, Talking Stick Resort, Scottsdale Fashion Square Mall and Sky Harbor Airport. It is impossible to be bored when you live in the Valley of the Sun. This area offers scenic beauty, miles of natural parkland, picturesque lakes, and a wide variety of activities, events, and attractions for every interest. Surrounding cities and metropolitan areas offer a unique mix of culture, shopping, sports stadiums, concert arenas, and attractions ranging from the cosmopolitan to the Southwestern.

8613 W Morten Avenue Glendale, AZ 85305

$650,000
5 Beds
4 Baths
4,252 SqFt
Status Active Under Contract
MLS # 6733555
Property Type Single Family Residence
Price Type --
Beautiful 5-bedroom, 4-bathroom, three-level home situated on a large lot in a fantastic community! Boasting a generous 4,252 sqft of living space, this residence offers ample room for everyone. The home features a den and a spacious basement with a full bath, providing versatile living options. Enjoy the airy and elegant ambiance created by vaulted 9+ flat ceilings and dual-pane windows. The family room includes a cozy gas fireplace, while the large rooms feature walk-in closets. The kitchen is equipped with multiple ovens, a pantry, and a kitchen island, complemented by formal dining, an eat-in kitchen, and a breakfast bar. Step outside to a covered patio overlooking a vast, beautifully landscaped yard with grass, shrubs, and trees. Additional highlights include a 3-car garage with an RV gate. Conveniently located near parks, Westgate, stadiums, and Tanger Outlets, this home also features owned solar panels to be paid in full at closing, ensuring energy efficiency and cost savings!

9029 W Lisbon Lane Peoria, AZ 85381

$650,000
3 Beds
2 Baths
1,720 SqFt
Status Active Under Contract
MLS # 6757409
Property Type Single Family Residence
Price Type --
WOW, this resort-style lake residence is designed with CUSTOM southwest interior luxury living and relaxing, vacation-like atmosphere. This LAKEFRONT location offers breathtaking panoramic views of the water. The residence features private access to the lake with a boat dock. Countless UPGRADES include: NEW ROOF, rain gutters, insulated garage door and ceiling, new hot gas water heater, new r/o system in kitchen, new water softener, gas fireplace, artificial grass, 2 roll blinds - patio, pool filters system, mister system w/ new filter, boat dock w/ trek deck material, 2 dock chairs w/ foot stools trek material, remodeled kitchen and custom cabinets, upgraded monogram kitchen gas stove, monogram stove hood, ge fridge ge refrigerator, ge dishwasher, new gazebo, hot tub w/ new cover, conversation pit, sautillo tile throughout the house, new upgraded pine doors on every room in house, upgraded ceiling beams in living and pool room and master bedroom, new upgraded kitchen faucet, all new circuits board, pool table, new upgraded windows, remodeled secondary bathroom, remodeled primary bathroom, 2 new toilets, tuff shed , exterior. 9029, march 2024 - exterior new paint, stucco, and trim exterior walls, side and backyard...designer southwest walls with new paint on conversation fire pit with new stucco, new metal gazebo structured over hot tub spa with hot tub cover, swimming pool, newer filter and timer, rock waterfall, swim table, two umbrellas, for insert on table, pool adjustable skimmer and brush, inside garage pool vacuum and pole, pool has automatic pop-up cleaner with lifetime guarantee, side yard has above ground cactus garden, adobe walls around backyard, 4 exterior hose bibs - with all new valves, 10'x12' tuff shed with insulated walls, floors, air vents and shelves, newer roof - 8 yrs old with o'hagen vents and rain gutters, spare tiles on roof, all artificial turf backyard, boat dock with ac outlet for boat charger, designer trek deck dock chairs and stools - rocker/sliders, upgrade side yard gates, concrete pad for trash cans, potting bench side yard, extra pad for patio table and pool cool deck, outdoor designer bbq kitchen, with refriger, lyon bbq, tile custom island with stainless steel sink with new faucet, under bar lighting extra outdoor electrical plugs, with 2 drawers stainless steel, 2 bird baths designer led lighting around the pool and backyard, multiple metal cactus and flowers around back and front and pool, covered patio, duck/goose fencing, all metal plants, talavera pots and metal art, mister system, new belt drive for patio, waterfall. Smart TV is 2yrs old and will convey, Denon receiver amp and surround sound along with entertainment cabinet will convey. This home is a MUST SEE!!!

7409 E Pleasant Run Scottsdale, AZ 85258

$650,000
3 Beds
2.5 Baths
2,688 SqFt
Status Active Under Contract
MLS # 6735895
Property Type Single Family Residence
Price Type --
Discover your perfect gem! This townhome in the desirable McCormick Ranch community, ideal for investors and offered as a short sale. This home boasts a rare main-floor master suite, large windows that flood the space with natural light, and a private patio for serene outdoor living. With only one shared wall, this corner lot offers extra privacy and easy access to the lush greenbelt. The spacious upstairs loft and two additional bedrooms provide flexible living areas. Located in the Pleasant Run subdivision, you'll enjoy top-rated schools, shopping, dining, and recreation nearby. This property is ready for your personal touches to transform it into your dream residence. Don't miss this incredible opportunity at an unbeatable price!

9025 S Dateland Drive Tempe, AZ 85284

$650,000
4 Beds
2 Baths
2,214 SqFt
Status Active Under Contract
MLS # 6742729
Property Type Single Family Residence
Price Type --
Introducing the BEST of Warner Ranch! This stylish and functional home boasts fresh updates, including white cabinets, granite counters, and a sparkling Pebble Tec pool. With a side yard, built-in BBQ, large covered patio, and ample space for children and pets, it's designed for outdoor living at its finest. Not to mention the recent upgrades, such as a new main water line in 2023, new water valves, irrigation control panel, water heater new in 2023, AC in 2021, and roof done in 2017. The separate entrance to the pool from the master bedroom and multiple living areas add a touch of luxury and convenience. Being single-level and centrally located near key amenities like shopping, golf, and parks, it's an ideal spot for almost anyone. Plus, its proximity to the airport, Scottsdale, and the highly-rated Kyrene School District makes it an even more appealing choice. Don't miss out on this incredible opportunity! This home is all about location, convenience, and comfort! Warner Ranch has 2 parks, playgrounds, tennis courts, pickleball courts, soccer, basketball and volleyball too!

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