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.

What’s Your Home Worth?

Search for Your New Home

5651 W Abraham Lane Glendale, AZ 85308

$649,900
3 Beds
2 Baths
1,968 SqFt
Status Active Under Contract
MLS # 6757000
Property Type Single Family Residence
Price Type --
LAKE FRONT PROPERTY in the Highly sought after Arrowhead Lakes!! Enjoy amazing AZ sunsets from your own dock! Backyard boast peace and serenity with stunning mountain and lake views!! Low maintenance yard with Extensive hardscape, artificial turf allows you more time to enjoy those gorgeous sunsets, fishing or stargazing right off your own boat dock. Recently renovated the boat dock is also low maintenance with long lasting poly wood deck. Located on a cul-de-sac street for low traffic, this 3 bedroom 2 bath, features a 3 car garage with built in cabinets and epoxy floor. Step inside to be greeted by that stunning view through the rear windows for the home. Formal living and dinning room allow for additional living space for home office, home school or large holiday gatherings. The heart of the home situated off the back of the house to maximize the lake view is an open concept with family room and breakfast nook, featuring newer stainless steel appliances, granite counters and neutral paint scheme. Spacious Owner's suite, with cathedral ceilings, yet again taking in those picturesque lake views! Owner's baths features TWO walk in closets, double sinks, large garden tub, walk in shower and private toilet room. Both bedrooms 2 & 3 have vaulted ceilings giving them a more spacious feel. All this located minutes to the 101 Fwy for easy commutes and all the shopping and entertainment the Arrowhead area allows.

18213 N 46th Street Phoenix, AZ 85032

$649,900
4 Beds
3 Baths
2,409 SqFt
Status Active Under Contract
MLS # 6770709
Property Type Single Family Residence
Price Type --
Unleash the potential of this well-maintained original home, offering the perfect canvas for your dream renovation! Located in the very desirable IMAGES neighborhood, this property provides a rare chance to customize & modernize to your exact vision, creating the home you've always dreamed of. With solid bones, spacious rooms, and a prime location, this house is ready for a complete transformation. Spacious feel w/ soaring vaulted ceilings, the main floor has family room, kitchen & dining - the primary bedroom & 2 other bedrooms are upstairs - and a very large bonus room w/ fireplace & 4th bedroom are on the lower level. Remodel with confidence as this property has a Newer Roof and HVAC system. One of the best values in the area, close to 101/51 & shopping / dining at Desert Ridge Mall.

10011 E Lakeview Circle Mesa, AZ 85209

$649,900
3 Beds
2.5 Baths
2,960 SqFt
Status Active
MLS # 6754002
Property Type Single Family Residence
Price Type --
*NEED MORE SPACE? Potential 4/5 Bedroom Home Awaits you in Villages of Eastridge ! *Flex-Floor Plan Looks New! *Original Owner on Culdesac Corner Home Site! *3+4 Bedrooms* Upper Loft & Lower Level Den/Office or Potential 4th-5th Bedroom Guest Suite & Master Retreat Sitting Room! *SPARKLING PLAY POOL & LARGE YARD! *3 Car Extended Garage + Double RV Gate! *Open Country Kitchen Island Bar & Walk in Pantry Overlooks Family Rm* Faux Wood Floors Lower Level *Dual A/C Units 2 Years New* Interior Freshly Painted & Exterior Recently Painted *Large Covered Patio *Backyard Fire Pit *2 Storage Sheds Garage Cabinetry with Work Bench & Storage Shelving *EXTRA WIDE & LONG Culdesac Drive for Additional Parking! Basketball Sports Court, Parks & Playgrounds! Quick Access Fwy's 202 & I60 & Schools!

4292 E John Street Gilbert, AZ 85295

$649,900
3 Beds
2.5 Baths
1,735 SqFt
Status Active
MLS # 6759003
Property Type Single Family Residence
Price Type --
This beautiful Textiler plan, 1735 sf single story home with 3 car garage is beautifully laid out with 3 bedrooms and 2.5 baths off a spacious great room with open gourmet kitchen. The master bedroom features a roomy walk in closet and a beautifully appointed master bath highlighted by a gorgeous spa shower and matching vanities. Beautiful tile flooring shows off the wonderful great room which opens to the outside with an expansive 16' atrium glass door. The gourmet kitchen features upgraded 42'' upper Linen cabinets with upgraded crown molding. The granite countertops are highlighted by the upgraded full tile backsplash. This home shows like a dream!

16036 W Sandia Park Drive Surprise, AZ 85374

$649,900 - 2Br/2Ba -  for Sale in Sun City Grand-mountain View 1, Surprise
Open House
$649,900
2 Beds
2 Baths
2,273 SqFt
Status Active
MLS # 6733325
Property Type Single Family Residence
Price Type --
Beautifully remodeled Windrose model with too many updates to list here. Triple garage and large fenced yard. Very modern colors with floating custom media wall. Vinyl flooring, granite counter tops, newer Stainless appliances, under cabinet kitchen lighting, inside laundry, pavers and cool decking on the back patio and fenced front courtyard. HVAC system replaced in 2018. Outside painted recently; newer PVC irrigation with drip system and new control box. Newer sinks, lighting and painted cabinets throughout - plus so much more.

11910 E Amanda Road Gold Canyon, AZ 85118

$649,900 - 3Br/2Ba -  for Sale in Peralta Canyon Parcel 8 2020047905, Gold Canyon
Open House
$649,900
3 Beds
2 Baths
1,987 SqFt
Status Active
MLS # 6753721
Property Type Single Family Residence
Price Type --
A MUST SEE Home in Gold Canyon. Photos don't do justice to this charming 3 bedroom 2 bathroom newer home located in Gold Canyon. Enjoy your time on the front patio morning or night. Inside you will find the 2 additional bedrooms (one with murphy bed) to the right and office to the left. Continuing, the beautiful tile floor leads you into a spacious entertainers kitchen. Kitchen features stainless steel appliances, wall ovens, quartz counter tops, island and dark cabinets. Kitchen opens up to family room which has stunning views. Main bedroom is located off of the family room in the back of the house. Backyard features artificial turf, easy to maintain landscaping and a great space to host!

520 S Brett Street Gilbert, AZ 85296

$649,900 - 4Br/2Ba -  for Sale in Finley Farms South Parcel 12, Gilbert
Open House
New
$649,900
4 Beds
2 Baths
2,159 SqFt
Status Active
MLS # 6783196
Property Type Single Family Residence
Price Type --
Beautiful home with POOL in Finley Farms! Sits on a corner lot, backing to a common area. Displaying a great curb appeal & a 2-car garage w/extended driveway, Telsa charger and newer roof! Home exudes elegance with surround sound, natural light, designer paint, tile & epoxy floors in common areas, and new carpet in bedrooms. You'll LOVE the formal living room, cozy den, & separate family room w/media niche! The impressive updated kitchen has new SS appliances, granite counters, tile backsplash, ample white cabinets, & a center island. Main bedroom has ensuite with dual sinks, separate tub/shower, & a walk-in closet. The backyard is designed for year-round enjoyment! It features a covered patio, artificial turf, fireplace, sail shades, storage shed, & a sparkling pool w/waterfall. Just WOW

17667 N 54th Avenue Glendale, AZ 85308

$649,900 - 4Br/3Ba -  for Sale in Touchstone 2, Glendale
Open House
New
$649,900
4 Beds
2.5 Baths
3,596 SqFt
Status Active
MLS # 6783835
Property Type Single Family Residence
Price Type --
Welcome to your dream home in the highly sought-after Touchstone Community! This inviting 4-bedroom residence w/a 3-car garage is perfect for entertaining & creating lasting memories. Discover the bright & airy living room, raised formal dining room, & a sizable family room. A blend of tile & wood-look flooring, soaring vaulted ceilings, & ceiling fans are worth mentioning. Well-appointed kitchen offers recessed lighting, built-in appliances, a handy pantry, granite counters, a center island w/a breakfast bar, abundant cabinetry topped w/crown moulding, & a breakfast nook. You'll LOVE the carpeted primary retreat, featuring an ensuite w/dual sinks, make-up desk, & a walk-in closet. Additionally, this haven includes a den/office & bonus room ideal for an extra bedroom or recreation center. Serene backyard will impress you w/a covered patio, exterior fireplace, play area, & a refreshing pool. This gem is sure to sell fast!

320 Buckingham Place Prescott, AZ 86303

$649,900 - 3Br/3Ba -  for Sale in Briarwood Unit 1, Prescott
Open House
$649,900
3 Beds
3 Baths
2,768 SqFt
Status Active
MLS # 6748189
Property Type Single Family Residence
Price Type --
City Light & Panoramic views of Thumb Butte, Granite Mountain & Courthouse Square. This is a fix up. Interior is a blank canvas (orig. 1984) ready for a complete gut and remodel to 2025. Priced below replacement cost at $235/SF. Exterior has a new roof, paint, Trex decking, new garage door and water heater. New slider added from eat in kitchen to northside. HVAC 3yrs new. Main floor (street level) has no steps and level driveway (master on main). Lower level has its own entrance with two bedrooms, full bath and flex space for office, gym, game room or study. Downstairs Ideal for multi-generational living or apartment as it has its own ingress-egress. New in box waterproof plank flooring ready for new owner. Adjoining west 0.36 acres can be bundled with sale for an extra $50k.

26647 W Covey Lane Buckeye, AZ 85396

$649,900 - 3Br/3Ba -  for Sale in Sun City Festival Parcel N1, Buckeye
Open House
$649,900
3 Beds
2.5 Baths
2,736 SqFt
Status Active
MLS # 6746036
Property Type Single Family Residence
Price Type --
A stunning FURNISHED Voyage floor plan, where elegance & comfort converge. Enter through a private courtyard featuring a custom wrought iron gate & tranquil fountain. Inside you're greeted by warm hardwood flooring & soaring 10-foot ceilings, creating a welcoming & spacious atmosphere. The gourmet kitchen boasts chiseled granite countertops, perfectly complemented by faux wood beams & equipped with a oversized walk-in pantry. A stone-walled foyer adds a touch of sophistication, while the media wall offers an ideal space for entertainment. An impressive owner's suite features dual spacious walk-in closets. Interior arches add a unique architectural flair. Enjoy the convenience of a golf cart garage, along w/ the luxury of a covered patio & a cozy gas fire pit. Recent exterior paint ensures this home is as beautiful on the outside as it is on the inside.

16435 W Cypress Street Goodyear, AZ 85395

$649,800
2 Beds
2.5 Baths
2,732 SqFt
Status Active
MLS # 6736265
Property Type Single Family Residence
Price Type --
2 car garage + SEP GOLF CART Garage Enjoy exceptional lifestyle in the highly sought-after Robson Community at PebbleCreek, a vibrant active 55+ community! Looking for larger home with options for 2 BONUS ROOMS... This Cabrillo Model on spacious corner lot, featuring an open concept kitchen great for entertaining, with a 6-burner Monogram gas stove & wall oven, granite countertops. Upgraded Solid Oak cabinets with glass fronts. Two luxurious owner suites, a versatile flex-room, and an oversized laundry space perfect for hobbies or crafts. Bonus room great for an in-home office. The owner's suite offers dual-sink vanity, oversized soaker tub, and 2 spacious walk-in closet. Modern amenities include hardwired for surround sound and security cameras. Pre-wired for 220 in garage HOA age restriction uses 80/20 rule of 80% age 55 or over and 20% can be 40 and over. Buyer to verify. Extended covered patio, ceiling fans, a gas stub for BBQs, and a low-maintenance backyard, perfect for outdoor entertaining. Soft Water loop installed. Wok reversable burner plates! Living in Robson Community at PebbleCreek means enjoying world-class amenities. Golf memberships available for 3 championship courses, play a match of pickleball or tennis, or take a dip in the community pool. Engage in nearly 100 different clubs and activities that cater to a variety of interests, ensuring an active and fulfilling lifestyle. Recent upgrades include fresh interior and exterior paint and added attic insulation for enhanced comfort. Embrace the exceptional living experience that awaits you in Pebblecreek. Don't wait to start enjoying the best of active adult living!

1936 Elk Road Heber, AZ 85928

$649,777
3 Beds
3 Baths
2,004 SqFt
Status Active Under Contract
MLS # 6690125
Property Type Single Family Residence
Price Type --
This custom log sided chalet on 1.75 acres is sure to please! Like new condition and secluded feel describes this 3BR, 3BA cabin. Tons of features with split floor plan, master BR downstairs and huge loft upstairs (currently used as the 3rd BR). Soaring vaulted T&G ceiling, lodgepole railing and knotty oak cabinets give that rustic feel. Custom window treatments, gas fireplace and new gas furnace with A/C. Oversized 2 car garage, tons of Trex deck and equipped to run off grid with shared well, solar and propane generator for well backup!

Leave a Reply

Your email address will not be published.