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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17698 E Bismark Lake Court Rio Verde, AZ 85263

$649,000
2 Beds
2 Baths
1,544 SqFt
Status Active
MLS # 6765532
Property Type Townhouse
Price Type --
Enjoy MOUNTAIN VIEWS and brilliant SUNSETS in this LUXURY RESORT COLLECTION Evia Floor Plan with SLIDING WALL OF GLASS and covered private terrace in the heart of coveted Trilogy at Verde River! Available FULLY FURNISHED this Spacious, WIDE OPEN yet efficient floorplan features 2 beds/ 2 baths and a SEPERATE DEN area. The unique location is adjacent to natural open space & beautifully maintained common area. Sophistication, Style & Elegant finishes throughout! COVERED PATIO perfect for entertaining. Kitchen DAZZLES w/WHITE CABINETS and sleek countertops! Stunning upgraded wood look tile flooring throughout. The new interior is bright and features today's favorite finishes. Other notable upgrades include New BOSCH dishwasher, Custom Closet, New Water Purification system and much more. Experience the ultimate in Luxury Living! Trilogy at Verde River offers upscale Resort living at its finest and the very best of all possible worlds, close to the conveniences of affluent North Scottsdale, yet secreted within the pristine privacy of the Sonoran Desert. The amenities are World Class with Tom Lehman inspired eighteen-hole Golf course, tennis courts, pickle ball courts, and bocce ball, heated lap pool and Resort style swimming pool, hot tub, Afterburn fitness center, Helen's demonstration Kitchen for cooking classes and a 7.5 acre dog park. The community center has casual poolside dining at Eddy's Diner and gourmet dining at award-winning Needle Rock Kitchen and Tap, Alvea Spa with full-service Salon and Spa amenities, Art Loft and events center. Trilogy at Verde River is adjacent to the Tonto National Forest and is situated in the middle of miles and miles of hiking and biking trails. Whether you're seeking a second, winter home, or will live here year-round, Trilogy at Verde River is an ideal distance from the hustle and bustle of North Scottsdale. Attitudes here are different; there's a sense of community. You'll love the Resort living! What memories will you make?

2447 E Highland Avenue Phoenix, AZ 85016

$649,000
3 Beds
1.5 Baths
1,438 SqFt
Status Active
MLS # 6781065
Property Type Single Family Residence
Price Type --
GREAT neighborhood. Nice street with homes that are much more expensive than this one. Really cute house with stained concrete floors ,fireplace and private yard. Lots of potential here. Located within walking distance of the Biltmore.

5819 N 88th Lane Glendale, AZ 85305

$649,000
5 Beds
3.5 Baths
3,038 SqFt
Status Active
MLS # 6781902
Property Type Single Family Residence
Price Type --
Move-in Ready!! Perfect for large family or in-laws. Clean and fresh home with upgrades throughout. Massive open floor plan with entertainment in mind. Luxury kitchen with white cabinetry, granite countertops, large island, stainless appliances, upgraded tile flooring and pantry opens to the massive family room with plantation shutters throughout. Owner's suite, guest bedroom w/ensuite and den on main floor. Three spacious bedrooms upstairs with a large loft. Calming neutral palate and central vacuum system throughout. Tankless water heater, sink and EV charger in garage. New maintenance free back & front yards with pavers and artificial turf. Wait no longer--your dream home awaits!!

5721 N 13th Street Phoenix, AZ 85014

$649,000
3 Beds
2 Baths
1,213 SqFt
Status Active
MLS # 6782306
Property Type Single Family Residence
Price Type --
This beautifully remodeled ranch-style home, located in the desirable north central corridor, offers 3 bedrooms and 2 bathrooms. Completely renovated in 2022, it boasts an open floor plan, custom cabinetry, stainless steel appliances, a gas stovetop, and a large center island - perfect for both cooking and entertaining. Both bathrooms have been tastefully updated. The home is adorned with new wood-look plank tile throughout, The backyard is a true retreat, complete with a large covered patio and a newly installed heated pool. Additional features include dual-pane windows, recessed lighting, a new AC unit (2022), new shutters, completely updated plumbing and electrical systems. located near the area's best dining and the highly sought-after Madison schools.

3233 S Lebanon Lane Tempe, AZ 85282

$649,000
3 Beds
2 Baths
1,626 SqFt
Status Active Under Contract
MLS # 6717336
Property Type Single Family Residence
Price Type --
Welcome to your new home in Tempe! This fully remodeled property has brand new flooring, gray quartz waterfall countertops, white shaker cabinets, new fans, and modern finishes throughout. The roof has a 5-year no-leak warranty, 20-year underlayment, and lifetime shingle warranty. Outside, enjoy a covered patio and a sparkling diving pool on a spacious lot. The home also features a newer AC and furnace, shingles replaced in 2018, no HOA, and excellent nearby schools. Visit this weekend before it's gone—homes in 85282 at this price don't last! The property includes 1,466 sq. ft. plus a 160 sq. ft. attached laundry room.

235 W Liberty Lane Payson, AZ 85541

$649,000
3 Beds
2 Baths
1,378 SqFt
Status Active Under Contract
MLS # 6751212
Property Type Single Family Residence
Price Type --
Rural living but close to town amenities! Suburban ranchette features 2.65 acres fenced and cross fenced for horses and other live stock. Fenced organic garden area and orchard. Numerous storage buildings, fenced chicken compound with coup, tack shed, large craft/work shed, oversized two car garage. Private well on property, plus an interest in Community well. Round pen set up with walker.

16234 E Links Drive Fountain Hills, AZ 85268

$649,000
2 Beds
2 Baths
1,878 SqFt
Status Active Under Contract
MLS # 6766788
Property Type Apartment
Price Type --
You'll love this 2 bed, 2 bath PLUS office single-level condo with golf course views & 2 car garage in Balera at Firerock! Step inside to an open greatroom with high ceilings. The kitchen is the heart of the condo with walls of cabinets, large island, stainless appliances, granite counters & tile backsplash. The main bedroom also has golf course views & large ensuite bath with dual vanity, soaking tub, walk-in shower & ample walk-in closet. The guest bedroom is split & offers direct access to the guest bath - making it a mini-ensuite. The 3rd room has pocket doors-perfect for office, bedroom or hobby room. Relax inside or on your patio while taking in the views of Firerock Golf Course. All this plus the gated lock-and-leave Balera Lifestyle with community pool & fitness room! View today!

5115 E Zenith Lane Cave Creek, AZ 85331

$649,000 - 3Br/2Ba -  for Sale in Saguaro West 4a, Cave Creek
New
$649,000
3 Beds
2 Baths
1,861 SqFt
Status Active
MLS # 6784366
Property Type Single Family Residence
Price Type --
This 3/4 acre lot has a single level 1,861 sqft., 3 bedroom/2 bathroom home and a detached 4 car garage with room to add on. Move in or put your own custom touches on it and enjoy your expansive lot with natural Arizona landscape including Saguaro's, fruit trees and mature trees. Park your RV on the lot and store your toys in the extended length area of the garage. Set in a great location in Cave Creek and not far from the shopping, restaurants and nightlife in famous Carefree.

1424 E Coronado Road Phoenix, AZ 85006

$649,000 - 3Br/2Ba -  for Sale in Mcdowell Park, Phoenix
New
$649,000
3 Beds
2 Baths
1,700 SqFt
Status Active
MLS # 6784755
Property Type Single Family Residence
Price Type --
Stunning 1700 Sq. Ft. (1412 main; 288 detached office) Spanish Craftsman Revival in Coronado with 3 spacious bedrooms, 2 bathrooms, large dining room and tastefully updated spacious kitchen. This home has all of the original charm with modern updates including a brand new AC unit, Low-E Premium dual pane windows, premium vinyl flooring, newer water heater, New 200Amp electrical panel, updated electrical wiring throughout the entire house, new exterior and interior paint, and updated plumbing and sewer lines throughout. No detail left untouched! +++This home includes a detached 288 Sq Ft office/studio with a moving glass wall, 10 foot wide bi-fold door perfect for outdoor entertainment. Premium vinyl flooring and separate mini split AC unit.

25645 W Blue Sky Drive Wittmann, AZ 85361

$649,000
4 Beds
2 Baths
2,139 SqFt
Status Active
MLS # 6650375
Property Type Single Family Residence
Price Type --
Easy To Show, Over 1 Acre Horse Property on this beautiful 4 bedroom, 2 bathroom single family home located in Wittmann, AZ. Comes with a Separate Fenced Pool Area to cool off in the summer heat! A Split Floor Plan 2 40 foot Cargo Containers. 2 Horse Stalls, Covered RV Parking. and a 50 ft portable round Horse Exercise Ring. Beautiful backyard with trees to provide shade perfect for a family event. Has an open garage with lots of available space to leave your vehicles in, 2 RV Hook-ups and 2 Container Storage units, Leased Solar Panels to reduce Electric Bills, and Additional Storage Shed.

2061 E Gary Circle Mesa, AZ 85213

$649,000
5 Beds
3 Baths
3,492 SqFt
Status Active
MLS # 6700499
Property Type Single Family Residence
Price Type --
BEAUTIFUL HOUSE WITH BASEMENT FOR EXTRA BEDROOM SPACE, 5+ BEDROOMS, 3 BATHS NESTLED IN A CULDESAC WITH LARGE BACK YARD, BEAUTIFUL SWIMMING POOL, FIRE PIT, AND PIZZA OVEN. ONE BEDROOM DOWN STAIRS, 4 UP STAIRS. LARGE FORMAL LIVING ROOM, FORMAL DINING ROOM, AND VERY FUNCTIONAL KITCHEN. LARGE STORAGE ROOM WITH NEW EXTERIOR PAINT AND PATIO PAVERS, POOL RECENTLY RESURFACED. PROPERTY ON 1/4 ACRE. OWNER EAGER TO SELL, WILL LOOK AT ALL OFFERS!

1511 E Luminous Lane Queen Creek, AZ 85140

$649,000
3 Beds
2.5 Baths
2,282 SqFt
Status Active
MLS # 6716533
Property Type Single Family Residence
Price Type --
$$ ALERT $$ This exact model just went pending on golf & asking $1,249,000. What a bargain at this price. Add your own updates and be well under value with a one-of-a-kind just over 12,000 sq. ft. Step outside past the double rolling walls of glass and enjoy the private backyard with mature trees. You'll find stone pavers, built in BBQ, fire pit and turf grass. Inside the home you will find the perfect space to entertain. Step into the primary suite and relax in the sitting room with a good book and glass of wine. Front guest bedroom allows privacy for anyone visiting. The home also offers a ''smart space'' in the laundry room for additional work space and cabinets. The golf cart garage provides more storage as well.

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