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.”

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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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3255 E Milky Way Gilbert, AZ 85295

$625,000
3 Beds
2.5 Baths
2,711 SqFt
Status Active Under Contract
MLS # 6767872
Property Type Single Family Residence
Price Type --
Welcome to this beautifully upgraded, move-in-ready home in the heart of Gilbert. A formal model, this home boasts too many incredible features to list. Step inside and notice the gorgeous wood-look tile flooring that flows throughout the main level. The spacious living room, formal dining, and open concept kitchen to family room offer plenty of space for relaxation and entertaining. The spacious kitchen features ample cabinets and countertop space, walk-in pantry for extra storage, giant island for culinary dreams, custom backsplash and new appliances. The separate office downstairs with built-ins provides a quiet, private workspace or study. Follow the attractive banister upstairs to find a cozy loft, an excellent play area or additional lounge space. The plush, high-end carpet... adds warmth and comfort underfoot, complementing the home's neutral color palette. The large primary suite is a calming retreat with massive walk-in closet, updated bathroom features, and separate tub and shower. You'll also find the second-floor laundry, additional bedrooms and updated hall bathroom. Plantation shutters are featured throughout the home, offering both style and functionality. The backyard boasts low maintenance greenery, refreshing coctail pool and extended concrete patio for enjoying Arizona sunsets. This immaculately kept home in the coveted Lyons Gate community is conveniently located near top-rated schools and easy freeway access, making commuting a breeze. It's just minutes from Phoenix-Mesa Gateway Airport and a variety of dining, shopping and entertainment options. Don't miss out on this amazing home!

5055 S Clancy -- Mesa, AZ 85212

$625,000
4 Beds
2 Baths
2,142 SqFt
Status Active Under Contract
MLS # 6766078
Property Type Single Family Residence
Price Type --
Gorgeous 4-bedroom, 2-bathroom home with a 3-car garage located in the highly sought-after Keighley Place subdivision of Mesa. Move-in ready and filled with upgrades, this home welcomes you with an oversized living room and formal dining space. The remodeled kitchen boasts granite countertops, refinished cabinets, a stainless steel sink and appliances, new fixtures, and a custom pantry door. The open-concept family room features a charming wood accent wall and offers easy access to the resort-style backyard, complete with a travertine patio, heated pool, lush landscaping, a built-in gas firepit, and a BBQ island, perfect for outdoor entertaining. The primary suite is a retreat of its own, featuring hardwood floors, an oversized walk-in shower, granite countertops, vessel bowl sinks, and updated fixtures. Additional highlights include updated flooring throughout, fresh exterior paint, garage cabinets with a workbench and storage, an RV gate, and low-cost fixed solar. Don't miss out on this incredible opportunity....request a private tour today!

6502 N Central Avenue Phoenix, AZ 85012

$625,000
2 Beds
2 Baths
1,880 SqFt
Status Active Under Contract
MLS # 6757231
Property Type Apartment
Price Type --
This beautiful mid-century penthouse, designed by renowned architect Starkovich, seamlessly blends historic charm with modern living. Situated along the iconic, tree-lined Central Ave in one of Phoenix's most sought-after neighborhoods, this original 2-bedroom, 2-bathroom home boasts breathtaking north-facing views of Piestewa Peak and stunning sunsets, framed by an impressive wall of windows. Just steps away, the scenic Murphy Bridal Trail offers a perfect escape for hiking enthusiasts and nature lovers. Bathed in natural light, the bright and airy interior creates an inviting atmosphere. The spacious great room is perfect for hosting gatherings or simply enjoying a peaceful morning coffee as the sunrise fills the space with warmth and light. HOA replaced roofs 2023, A/C & Heat piping 2024 they will also be redoing the wrap around patio. HOA includes utilities: cooling, heating, water, trash, sewer, cox cable and cox internet Owner only pays for electricity (minus heating and cooling) Complex was also just approved as Historical landmark which decreases homeowners' property tax as long as they are owner occupied

5554 S Hawthorn Street Gilbert, AZ 85298

$625,000
2 Beds
2 Baths
1,917 SqFt
Status Active Under Contract
MLS # 6762890
Property Type Single Family Residence
Price Type --
Welcome to this beautifully home, where luxury meets comfort in a resort-like setting. The expansive backyard features a private heated pool complete with serene waterfalls and a relaxing hot tub—perfect for unwinding or entertaining. Inside, you'll find an array of incredible upgrades, including elegant 20'' tile flooring, plantation shutters, and stylish ceiling fans throughout. The front & back security doors invite in refreshing breezes, enhancing your outdoor living experience. Step out onto the large patio equipped with sunshades, offering breathtaking views of the San Tan Mountains. The low-maintenance artificial grass adds a touch of greenery without the hassle. ((CONTINUED)) The gourmet kitchen is a chef's dream, boasting staggered 42 maple cabinets, gorgeous granite countertops, stainless steel appliances, and a spacious kitchen island for all your culinary creations. Need a quiet workspace? The office features built-in maple cabinetry and a cozy window seat, providing both functionality and charm. Plus, the garage has been upgraded with insulation and a mini-split AC unit for added comfort. Roof, landscaping and pool heater have been upgraded in the last 2 years. This home is ready for it's next owner!

34105 N 24th Drive Phoenix, AZ 85085

$625,000
5 Beds
3 Baths
3,275 SqFt
Status Active Under Contract
MLS # 6764979
Property Type Single Family Residence
Price Type --
Welcome to this stunning North Phoenix gem, nestled within the exclusive gated community of Amber Hills. This spacious 5-bed 3-bathhome boasts 3,275 sq. ft. of living space, offering an open floor plan perfect for entertaining and comfortable living. The kitchen features beautiful granite countertops, newly painted cabinets,a large center island, and plenty of cabinetry—ideal for the home chef. The generous primary suite is a private retreat, complete with a spacious ensuite featuring a soaking tub, double vanities, and a walkout patio with serene views. Step outside into your private backyard oasis, complete with a PebbleTec pool, a covered patio for outdoor dining, and a paved seating area perfect for soaking in the breathtaking mountain views. This home is priced to sell quickly!

1982 W Periwinkle Way Chandler, AZ 85248

$625,000
2 Beds
2 Baths
1,839 SqFt
Status Active Under Contract
MLS # 6771908
Property Type Single Family Residence
Price Type --
Discover unparalleled lakefront living in the highly sought-after Montefino Village! This stunning lot offers breathtaking views of serene lakes, charming bridges, a tranquil waterfall, and a private park complete with walking paths. Completely Upgraded Throughout: No detail has been overlooked in this exquisite residence. Enjoy cooking with GE Profile appliances, quartz countertops, under-counter dimmable lighting, and soft-close kitchen drawers. Relax in the inviting living room featuring a gas fireplace and stunning slate flooring. Double pane windows with stylish shutters, ceiling fans throughout, and nearly new HVAC. Covered Patio with stunning views, misters and bistro lights. Schedule your showing today and seize the opportunity to enjoy your home, inside and out.

15424 N 63rd Street Scottsdale, AZ 85254

$625,000
4 Beds
2 Baths
1,763 SqFt
Status Active Under Contract
MLS # 6774575
Property Type Single Family Residence
Price Type --
INVESTORS DREAM! Just needs a little TLC and updating! Perfect Scottsdale Location with No HOA! This charming single story home features 4 bedrooms and 2 bathrooms on a spacious private lot. The primary bedroom has a spacious ensuite bathroom with double sinks and tons of closet space. The interior living space boasts vaulted ceilings, creating an open airy atmosphere. Large living room with a cozy wood-burning brick fireplace, this home provides ample space for indoor and outdoor living & entertainment. Enjoy your private shaded backyard with a covered patio - perfect for the beautiful Arizona evenings. NEW AC Unit (only 2 years), NEW Water Heater (only 1 year) & Newer Roof (only 5-10 years). Conveniently located just minutes away from Kierland and the Scottsdale Quarter with world-class retail shopping, fine dining & endless entertainment. Quick and easy access to the Loop 101 & SR-51 freeways. Perfect for any buyers looking to earn some sweat equity as well as fix-n-flip investors and long-term or short-term rental investors alike!

2622 E Acoma Drive Phoenix, AZ 85032

$625,000
4 Beds
2 Baths
2,306 SqFt
Status Active Under Contract
MLS # 6775073
Property Type Single Family Residence
Price Type --
VIEWS, VIEWS, VIEWS!! Spectacular location in a very peaceful and serene neighborhood. Walk across the street and enter the preserve for a nice hike. Enjoy this unique floorplan w/updated kitchen, personal bar with built-in keg dispenser, updated bathrooms w/oversized master shower. Extended exterior deck for a place to escape while taking in the breathtaking views!

925 W Heatherbrae Drive Phoenix, AZ 85013

$625,000
2 Beds
2.5 Baths
1,284 SqFt
Status Active Under Contract
MLS # 6779789
Property Type Single Family Residence
Price Type --
Welcome to a rare find in the heart of the Woodlea Historic District—a classic English Tudor on one of the most iconic streets, complete with a charming guest house and nestled on a lush, irrigated lot. From the moment you arrive, this storybook home enchants with its curb appeal: mature shade trees, a paver walkway, and a sunny front porch that invites you to step inside. Enter through the beautiful paned glass front door and fall in love with the spacious living room, where original wood floors, coved ceilings, built-in bookshelves, and a stunning plaster fireplace create a timeless ambiance that's both cozy and elegant. The kitchen has been thoughtfully updated with quartz countertops, stainless steel appliances, ample shaker cabinets, and stylish tile flooring, seamlessly blending modern convenience with historic charm. The primary suite is a luxurious retreat, featuring a sitting area, an updated ensuite bath, walk-in closet, and a private exit to the lush backyard. The home's second bedroom (currently used as a dining room) and the fully updated guest bath make hosting a delight, while the dedicated indoor laundry space adds extra ease to daily life. Step into the backyard and discover the charming guest house with a half bath, perfect for visitors, a home office, art studio, or anything your heart desires. Surrounding outdoor spaces provide private, tranquil areas to unwind and enjoy Arizona's beautiful weather. Located just a short stroll from the vibrant shops and restaurants of Melrose, this home is as ideal as its neighborhood. Don't miss your chance to own this classic Tudor- rarely does a home this special come to the market.

19958 W Glenrosa Avenue Litchfield Park, AZ 85340

$625,000
2 Beds
3 Baths
2,041 SqFt
Status Active
MLS # 6769189
Property Type Single Family Residence
Price Type --
PEACE AND TRANQUILITY ABOUND IN YOUR BACKYARD OASIS,Welcome to this stunning 2 bed/3 bath w/ den and flex room that provides an additional 150 sqft of living space. Home has custom finishes with many builder upgrades and over $75,000 in owner upgrades.Fabulous great room w/gas FP and mesquite wood mantle,crown molding,tray ceilings,shiplap and 12'ft multistacking corner less doors that bring the outside in. Beautiful chefs kitchen w/ 10' island, pullouts in cabinets,walk in pantry,builtin oven and microwave and granite countertops. go out through the corner less doors in the great room to a fabulous backyard w/ extended travertine patio,large stone water feature and jacuzzi spa. Fire pit, builtin bbque,Sun Setter shades,custom lighting complete this oasis.Wood shutters throughout. The primary suite is accented with shiplap and crown molding.Large en-suite bath w/ walk-in shower and large closet. The den has barn doors for privacy,crown molding and shelving. Secondary bedroom also an en-suite bath. To add to the living space the FLEX ROOM which you enter through the garage has an epoxy floor with central AC and heat and is perfect for the hobbyist or as an office,workout room or workshop. Two car garage has epoxy floor with wall of built in cabinets. All that's left to do in this beautiful home is to ENJOY IT! Embrace the Verrado lifestyle with all the amenities it has to offer.

3535 E Covina Street Mesa, AZ 85213

$625,000
5 Beds
3 Baths
2,584 SqFt
Status Active
MLS # 6769474
Property Type Single Family Residence
Price Type --
**AMAZING TRI-LEVEL with GORGEOUS CURB APPEAL** Be impressed with the lush lawn and fragrant roses as you step into this updated Mesa home. Sunlight, vaulted ceilings & neutral paint give this home an airy feel. The main level features a large great room & formal dining area with views of the spacious backyard filled with grass, trees & garden! The updated eat-in kitchen boasts 2 large pantries, granite counters, gas range, stainless appliances & French door refrigerator. Upstairs you'll find the owners suite with double vanity, tile shower, garden tub & walk-in closet. There are two more bedrooms & bath upstairs. The downstairs family room makes a perfect game room, play room or media space. Two bedrooms & bath complete the downstairs. You'll love.... ...the storage of the spacious 3 car garage. There is a soft water system, R/O system too. Located across the street from green space, its like having your own park! Come and see this beautiful home today!

2937 N 16th Drive Phoenix, AZ 85015

$625,000
3 Beds
2 Baths
1,500 SqFt
Status Active
MLS # 6777847
Property Type Single Family Residence
Price Type --
WOW!!! Welcome to this stunning move-in-ready home in the highly sought after North Encanto Historic District, completely transformed from top to bottom. It features a newer roof, AC, brand new sub & main electrical panel, LVP flooring, updated electrical, plumbing, and modernized kitchen and baths. While upgraded, it retains charming historic features like a large brick fireplace and a vintage outdoor grill. The reconfigured floor plan includes a primary suite with an ensuite bath. Outside, the front yard has lush grass, and the backyard offers low-maintenance turf. The oversized two-car garage with built-in cabinets provides ample storage. Located on a quiet street, this home blends historic charm with modern living.

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