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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28643 N 46th Way Cave Creek, AZ 85331

$625,000 - 3Br/2Ba -  for Sale in Tatum Ranch Parcel 43a, Cave Creek
New
$625,000
3 Beds
2 Baths
1,832 SqFt
Status Active
MLS # 6781933
Property Type Single Family Residence
Price Type --
Step into this single-story charmer where style meets comfort! The cozy, custom wood-paneled walls add warmth and character, perfect for nights in or gatherings with friends. The heart of this home is an updated kitchen, decked out with sleek quartz countertops and a custom-built breakfast bench that practically calls out for morning coffee and pancake Saturdays. The kitchen is open to the cozy living room with fireplace adorned with the same custom wood panled wall creates comfort and screams popcorn and a movie! Each bedroom is newly carpeted, offering plush, fresh vibes, while the bathrooms are equally updated and ready for your unique touch. But that's not all! There's a backyard built for making memories—a fenced pool just waiting for summer days, plus lush artificial Each bedroom is newly carpeted, offering plush, fresh vibes, while the bathrooms are equally updated and ready for your unique touch. But that's not all! There's a backyard built for making memoriesa fenced pool just waiting for summer days, plus lush artificial grass and mature landscaping that feels like your own private oasis (minus all the upkeep!). This home is brimming with personality and must-see features that will surprise you at every turn. Come see for yourselfthis one won't stick around long!

920 E Mitchell Drive Unit 102 Phoenix, AZ 85014

$625,000 - 3Br/3Ba -  for Sale in Mitchell Lofts Condominium Amd, Phoenix
New
$625,000
3 Beds
2.5 Baths
2,212 SqFt
Status Active
MLS # 6784888
Property Type Townhouse
Price Type --
Welcome Home to Mitchell Lofts! Discover unparalleled luxury in this breathtaking 3-bedroom, 2.5-bathroom townhouse, ideally located in one of Phoenix's most sought-after neighborhoods. Spanning an impressive 2,200 sq ft, this sophisticated residence offers an open-concept design that seamlessly blends style and functionality. As you step inside, you'll be captivated by the soaring vaulted ceilings in the expansive living room, creating a grand and airy atmosphere. The gourmet kitchen is a chef's dream, featuring pristine granite countertops, sleek stainless steel appliances, a wine fridge, and custom cabinetry. The seamless flow between the kitchen and living areas makes it perfect for both intimate gatherings and entertaining guests. ((CONTINUED)) The master suite is a serene retreat, offering a spacious layout with a luxurious ensuite bathroom. Indulge in the spa-like experience with dual vanities, a walk-in shower, and a freestanding soaking tub. Every detail has been carefully crafted to create a sanctuary for relaxation. The lower level is just as impressive, with two additional bedrooms, a full bath, and a spacious family room - perfect for privacy or hosting. Beautiful ceramic tile flows throughout the main floor, while luxury vinyl plank flooring graces the lower level. For those who love outdoor living, a spiral staircase leads to a stunning rooftop deck, where you can enjoy panoramic views of the city skyline and beyond. Additional features include a two-car garage, storefront-style windows with custom coverings, and tasteful design elements throughout, making this townhouse the epitome of modern luxury.

2132 Quail Court Page, AZ 86040

$625,000
4 Beds
4 Baths
2,358 SqFt
Status Active
MLS # 6699099
Property Type Single Family Residence
Price Type --
Welcome to your dream home! This charming Santa Fe-style abode boasts 4 beds and 4 baths, perfect for your family's comfort. With a spacious two-story layout, every corner exudes warmth and character. Hard flooring throughout ensures easy maintenance, while granite countertops elevate the kitchen and bathrooms with timeless elegance. Embrace the Southwest vibes and make cherished memories in this inviting sanctuary.

1873 E Mcnair Drive Tempe, AZ 85283

$625,000
4 Beds
2.5 Baths
2,138 SqFt
Status Active
MLS # 6663148
Property Type Single Family Residence
Price Type --
Amazing location in Tempe! Welcome home by Oasis Anozira lake subdivision, with community walking path around the nearby lake. This home features 4 bed. , 2.5 baths, Family room opens to the kitchen w/ island & dining area , Formal Living Room & Dining Room w/ Vaulted Ceiling , From Master Bed. you can exit to the beautiful, huge balcony & enjoy the outdoors. The Master bath features double sinks, separate shower, bath tub, toilet room & walking closet. Garage includes built in cabinets, front entrance with tile & lash landscaping, the extended back patio has newer ceiling, neutral tile, the walkway along the house. Enjoy the beautiful landscaped yard with large grassy area. House has new A/C (installed Jan. 2024) and great location, close to major freeway, shopping, dining..

17750 W Pershing Street Surprise, AZ 85388

$625,000
3 Beds
2 Baths
2,526 SqFt
Status Active
MLS # 6696333
Property Type Single Family Residence
Price Type --
Gorgeous Single Level 3 bedroom plus an Office/Den or 4th Bedroom One full bathroom and one full deluxe bathroom. Kitchen plus Nook Lot Size: Almost 1/4 acre. ''Huge back yard'' Extra driveway added with 2 RV Gates. Open floor Plan. Lrg Family Room. Formal Living & Dining Room. Lrg Laundry Room. Large private pool (10k Gal) and Hot tub. Cobble stone driveway & 2nd RV gate added. 5+ Parking Spaces, plus Security/Motion lighting added,(Front and Back). Minutes to golfing, Walmart and more. Easy access to 303 hwy. New Recreation Center coming in 2025, three mins away.

12806 W Maya Way Peoria, AZ 85383

$625,000
2 Beds
2.5 Baths
2,454 SqFt
Status Active
MLS # 6707399
Property Type Single Family Residence
Price Type --
Motivated Seller, Recent updates include full roof replacement and new A/C Units in 2020. Welcome home to Trilogy at Vistancia. This Active Adult community has is it all, a wide variety of recreational activities, pristine pools, state of the art fitness centers and championship golf course. Relax and enjoy the spacious Accredo model that boasts 2450 square feet with 2 bed, 2.5 bath and 2 separate office, den, man cave/home theater flex rooms. Includes water softener and reverse osmosis system. 3 car garage with 3rd being a golf cart garage. Low maintenance front and back yard on auto irrigation timers. Fenced in backyard. This immaculate home has it all. Experience paradise in this beautiful home nestled within an amazing community.

28312 N 213th Drive Wittmann, AZ 85361

$625,000
4 Beds
2.5 Baths
2,142 SqFt
Status Active
MLS # 6721829
Property Type Single Family Residence
Price Type --
10K SELLER CONCESSIONS with a full price offer and coe by 12/20/2024. Gated Enclave situated on a dead end,1.12 acre canvas of potential, this brand new home is a blank canvas waiting for your personal touches. With 2,142 square feet of living space, it is the perfect blend of comfort and sophistication. Need space for your toys? This home boasts an attached 55X13.6 foot RV garage, so your RV, LQ or toys will easily fit here. Upon entering, you will encounter high-end touches such as elegant quartz countertops, crown molding, 5'' baseboards, sleek tile wood-like floors, and modern fixtures throughout. Entertain in the open-concept living space where the gourmet kitchen is the heart of the home. Equipped with stainless steel appliances, ample counterspace, a separate walk in pantry, and a ton of storage space culinary delights are just waiting to be created. Your primary bedroom is split with an ample bathroom that includes dual sinks with quart countertops, a curbless shower and separate soaking tub, and large walk-in closet. Outside, let your imagination run wild. Whether you are dreaming of creating an oasis with a sparkling pool, shade trees and gardens or a mare motel and loping arena, it's right here waiting for you. For the energy conscious Buyer, the ceiling has foam insulation equivalent to R16 and it keeps the bugs and dust out. Concerned about the leach field location? This septic system has a vertical leach field so you don't have to worry about where the lines are when you are installing your dream pool or mare motel. And, this is synthetic stucco so you never need to paint it. There is a complete list of features under the document tab in the MLS that is available to the public. Hurry and make this home your own.

15550 N Frank Lloyd Wright Boulevard Unit 1009 Scottsdale, AZ 85260

$625,000
3 Beds
2.5 Baths
1,656 SqFt
Status Active
MLS # 6726509
Property Type Single Family Residence
Price Type --
One of the kind with tons of upgrades done just recently. Brand new flooring with water proof laminate, brand new kitchen with quartz countertops, LG appliances, newer AC unit only 3 years old, brand new windows in entire house just installed, one year old water heater, newer water softener and water osmosis, equipment. Not to mention prime Scottsdale location just east of Loop 101 on Frank Lloyd Blvd . Phoenix Open, Barret Jackson and TONS of shopping/dining at Kierland Commons/Scottsdale Quarter just down the street. Don't miss this opportunity this place offer to you.

4284 E Erie Street Gilbert, AZ 85295

$625,000
4 Beds
4.5 Baths
3,168 SqFt
Status Active
MLS # 6732241
Property Type Single Family Residence
Price Type --
Gorgeous Mediterranean Style 3,168 Sq Ft Home. Built in 2017 in an Upscale Gilbert Community. Low Maintenance Lot Features Artificial Turf, Rock Landscape, & Pavers. The First Floor Features Spacious Open Living Space for a Game Room/Den with a Half Bath, Patio Access, and 2-Car Garage with Included Water Softener. The Mid-Level 2nd Floor Features Very Large Open Floor Plan with Spacious Living Room, Huge Gourmet Kitchen, Breakfast Bar, Dining Area with Double Patio Doors Opening to Large Balcony. The Mid-Level also has a Bedroom, Full Hall Bath & Laundry Room. The Top-Level 3rd Floor Features the Owner's Suite with Large Primary Bedroom, Spa Inspired Bathroom & Walk-In Closet. Top-Level Also has 2 Junior Suites with Private Bathrooms. Enjoy the Community Pool, Park & Basketball Court. Shop & Dine at Cooley Station, Verde and Upscale Santan Village.

4116 E Wagoner Road Phoenix, AZ 85032

$625,000
5 Beds
2 Baths
2,240 SqFt
Status Active
MLS # 6741473
Property Type Single Family Residence
Price Type --
Fantastic opportunity on this beautiful property! Recently appraised twice, first at $660,000 and second at $650,000. Discover this beautifully remodeled home, where modern elegance meets unparalleled functionality. This property features 5 spacious bedrooms and 2 spa-like bathrooms, offering a blend of style and comfort. The brand-new kitchen shines with quartz countertops and the latest appliances, complemented by a generous laundry room for added convenience. Wooden floors throughout and meticulous tile work in the bathrooms and laundry area accentuate the home's appeal. New windows, interior doors, and elegant pavers in the front, back, and pool areas elevate the property's aesthetic and utility. Unique to this home is an entertainment area with a bar near the pool, designed for memorable parties and gatherings. The expansive backyard serves as a private retreat for relaxation or entertainment,

6502 N Central Avenue Phoenix, AZ 85012

$625,000
3 Beds
2 Baths
1,880 SqFt
Status Active
MLS # 6740787
Property Type Apartment
Price Type --
Welcome to the PENTHOUSE of the iconic OLYMPUS on the Murphy Bridle Path in the ''North Central'' neighborhood of Phoenix. Built in 1964, this mid-century beauty boasts incredibly spacious rooms, large windows & two patios with mountain and downtown views! The primary suite features a walk-in closet and spacious bath with double sinks, incredible original tile and vanity and mountain views!The second bedroom features double w/in closets and...mountain views!The third bedroom/den has a door to one of the patio/balconies. The great room is...well, great with ...yes, mountain views! The balcony/decks have hundreds of square feet of space to enjoy our Sept-June weather! Secure covered parking for 2 cars is included along with additional storage.Walk to some of Phoenix's finest eateries too!

6518 W Bent Tree Drive Phoenix, AZ 85083

$625,000
4 Beds
3 Baths
3,152 SqFt
Status Active
MLS # 6743569
Property Type Single Family Residence
Price Type --
Picture-perfect sunsets from your new home! This large 4 bed/3 bath plus loft is located in a quiet neighborhood w/picturesque views. Lovely curb appeal w/stone accents & front porch. Spacious living areas excellent for hosting & entertaining guests. Upgrades include new interior paint, a gas fireplace, new lighting throughout, & a new water heater. The gourmet kitchen is equipped with an electric cooktop, a wall oven, granite counters, rich wood cabinetry, & an island w/a breakfast bar. Main suite upstairs has a full ensuite, a walk-in closet, & a private balcony w/mountain views. Don't miss the spacious 3-car garage! The vast backyard provides a covered patio & a firepit. Hiking trails right down the street. Backyard ready for your dream pool design! See rendering photos for inspiration

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