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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31006 W 213th Lane Wittmann, AZ 85361

$624,900
3 Beds
2.5 Baths
2,100 SqFt
Status Active
MLS # 6727483
Property Type Single Family Residence
Price Type --
60 DAYS & DONE - You don't want to miss this turnkey single-level home offering a 3-car Tandum and a Full RV Garage! Get an up-close look to discover a captivating open floor design filled with bountiful natural light, high ceilings, lovely flooring, soothing palette, recessed lighting, a cozy fireplace, and sliding glass doors to the patio. Prepare gourmet meals in the impeccable kitchen boasting shaker cabinetry with crown molding, beautiful counters, a convenient pantry, and a large island w/a breakfast bar. Owner's suite is a true retreat, providing a private bathroom and a sizable walk-in closet. The secondary bedroom enjoys a walk-in closet too. Sit back & relax under the covered patio while drinking your favorite drink! Contract now and put your personal touch on your new home

4730 S Emery -- Mesa, AZ 85212

$624,900
5 Beds
4 Baths
3,937 SqFt
Status Active
MLS # 6670989
Property Type Single Family Residence
Price Type --
* Check out this NEW List Price! * This 5-bedroom 4 bath home that is priced to sell today. The main floor boasts both family and living rooms, an eat in kitchen with large island and walk in pantry. An oversized bedroom and a full bath are conveniently located on this main floor. There is a separate garage next to this room making a private entrance for the new homeowner. There is a large loft area upstairs which provides limitless possibilities. The over-sized primary suite is perfect for a stay-at-home vaca including a remodeled bathroom and sitting area. Don't miss the huge walk-in closet. The backyard is secluded and has mature trees that offer shade and lots of room to play or just relax.

200 Moons View Road Sedona, AZ 86351

$624,900
2 Beds
2 Baths
1,824 SqFt
Status Active Under Contract
MLS # 6691061
Property Type Single Family Residence
Price Type --
Welcome to your dream retreat in the heart of the enchanting Sedona red rocks! This two bed two bath home with two car garage is nestled amidst the stunning landscapes and vibrant energy that Sedona is world renowned for. Enjoy breathtaking, unobstructed views of Sedona's iconic red rock formations from the comfort of your own home, or from the large fully enclosed Arizona bonus room. Nestled just off the 11th hole of the Oak Creek Country Club Golf Course, this traditional Sedona style home is located in a quiet Oak Creek neighborhood, yet close to all the amenities the Village of Oak Creek has to offer - hiking, biking, Oak Creek, shopping, golf and world class dining. Start your Sedona journey today!

13600 N Fountain Hills Boulevard Unit 903 Fountain Hills, AZ 85268

$624,900
3 Beds
3 Baths
2,196 SqFt
Status Active
MLS # 6699821
Property Type Townhouse
Price Type --
Welcome to your dream home nestled in the gated community of La Strada, offering not just a residence, but a lifestyle. This meticulously crafted abode boasts 3 bedrooms and 3 bathrooms spread across a spacious 2196 square feet. Upon entering, you'll be greeted by breathtaking mountain views that serve as the backdrop to your everyday life. The home exudes elegance and modernity with remodeled bathrooms and kitchen featuring updated cabinets, luxurious Quartz countertops and no-fingerprint stainless steel appliances that elevate your culinary experience. The 2-car epoxy floor garage not only provides ample space for your vehicles but also offers convenient storage solutions. Inside, the living space is adorned with updated flooring and an inviting electric fireplace, perfect for cozy... evenings with loved ones. The primary suite is a sanctuary unto itself, boasting a huge rain glass shower and no-slip oversized tile, along with meticulous organized closets featuring built-in storage solutions. For the connoisseur, a built-in wine refrigerator awaits, while the custom coffee bar ensures your mornings are off to a delightful start. The kitchen features a sleek graphite sink, adding a touch of sophistication to your culinary endeavors. Entertaining is a breeze with a powder room showcasing a custom driftwood countertop and vessel sink. Additionally, the she-shed offers versatile space that can be transformed into an office, fitness area, or craft space, catering to our every need. Beyond the confines of your home, the gated community of La Strada offers resort-style amenities, including a pool. Centrally located, you're just a short walk or drive away from shopping, restaurants, and the famous fountain, allowing you to indulge in the vibrant lifestyle this community has to offer.

23625 N Bridle Way Florence, AZ 85132

$624,900
4 Beds
2.5 Baths
2,556 SqFt
Status Active
MLS # 6715194
Property Type Single Family Residence
Price Type --
Step into this breathtaking semi-custom home situated on a sprawling 1-acre lot with horse privileges and an impressive 30'W x 48'L shop, ideally located in a sought-after NO HOA community. Boasting 4 bedrooms and 2 ½ baths, this residence exudes elegance with its vaulted ceilings, inviting fireplace, and a generous open concept living/dining area adorned with plantation shutters. The expansive gourmet kitchen is a culinary masterpiece, featuring white cabinets, stunning black blizzard granite countertops, a pantry, and a spectator bar with seating. Sleek black fingerprint-resistant stainless steel appliances and ambient under-cabinet and over-cabinet lighting complete the kitchen's allure. Two luxurious primary bedroom suites offer comfort and space, while one suite features features an oversized ceiling fan for added relaxation. A dedicated laundry room includes a front-load washer and dryer for convenience. Outdoors, indulge in the 12' x 67' covered patio and an extended 3-car garage with on-slab parking for 6+ vehicles. Enjoy year-round comfort with sunscreens, security doors, and ceiling fans throughout. For seamless outdoor entertaining, discover a detached 28' x 20' covered patio equipped with a built-in BBQ grill, sink, and refrigerator. Access to the property is secured by two sets of double gates and a walk gate from the street, with an additional walk gate along the back fence leading to a natural wash bordered by lush foliage, ensuring unparalleled privacy. This remarkable property epitomizes space, privacy, and convenience in a desirable community without HOA restrictions. Don't miss this extraordinary opportunity!

1728 N 156th Drive Goodyear, AZ 85395

$624,900
4 Beds
2.5 Baths
2,916 SqFt
Status Active
MLS # 6729548
Property Type Single Family Residence
Price Type --
Discover Your Dream Home in Palm Valley! Professional home inspection already completed!!!! Welcome to your new haven! This stunning, highly upgraded home in Palm Valley is a true gem, offering over $160k in luxurious enhancements. Perfectly situated close to all the vibrant attractions the Goodyear area has to offer, this home is designed for those who seek both comfort and sophistication. Key Features: Spacious Living: With 4 bedrooms and an additional 12x18' (approximate) flex room, this home offers ample living space. The large flex room with custom barn doors is perfect for an office, media room, or playroom. Elegant Interiors: Enjoy the beauty of 12x24'' plank tile flooring and 10' ceilings throughout the home. MORE ... Gourmet Kitchen: The heart of the home features oversized granite countertops, double ovens, a gas cooktop, abundant cabinet space, a walk-in pantry, and stainless steel appliances (including a new dishwasher, disposal, and microwave). The large dining nook with padded bench seating for 12 is perfect for entertaining or large gatherings. Luxurious Master Suite: The master retreat boasts bay windows, a master bath with a tiled shower, a double full-mirrored door to the closet, an oversized tub, granite counters with double sinks, and a custom-designed walk-in closet. Thoughtful Layout: A split floor plan ensures privacy with 2 additional bedrooms featuring walk-in closets and a connected Jack & Jill full bath. Functional Spaces: The laundry room offers ample counter space and cabinetry. Two solar skylight tubes brighten the front entry and living space. A metal security front door adds an extra layer of safety. Garage & Driveway: The garage includes a 2-foot extension, epoxy flooring, ceiling storage racks, an extended paver driveway, and custom cabinetry. Desert oasis on an Expansive Lot: Nestled on a large 10,000+ square foot fully landscaped corner lot in a cul-de-sac, across from a large park. Backyard Paradise: Ideal for entertaining, the backyard features an above-ground hot tub, a spacious covered patio, travertine decking, paver sidewalks, a raised garden area, gas stub, solar and custom lighting, an oversized gate, and a two steel cactus including a saguaro cactus that light up at night. This home is meticulously designed to pamper its new owners both inside and out. Some furnishings may be available for purchase outside of closing. Don't miss the chance to make this exquisite property your own. Step into your dream home today!

3128 E Cheryl Drive Phoenix, AZ 85028

$624,900
4 Beds
3 Baths
2,195 SqFt
Status Active
MLS # 6734743
Property Type Townhouse
Price Type --
Built in 2019, lock & leave, ready to move in, Mountain views & a convenient location to so much, what more could you ask for? Artisan Duette is a TH community (which lives & feels like SF home because of the construction) of 22 homes that are tucked away in the Phoenix Mountain Preserve neighborhood &close to the 51. This fabulous home features 4 bedroom (plus loft), 3 bathrooms & 2 car garage. 1bd/ba downstairs. Light & bright w/ 9' & 10' ceilings, 5'' baseboards, smooth textured walls, modern lighting etc. are just some of the upgrades. A chefs kitchen w/ tons of storage, SS appliances, pull out drawers in pantry, quartz counters & spacious island opening to the living areas. 10' sliding doors open to low maintenance covered patio & yard w/ private gate to dog park/greenbelt & pool Coffee spots, dining, pet stores, grocery, pharmacy, auto services, shopping etc...are within walking distance. The new PV Mall, Trader Joes, Costco etc... are nearby. You will want to live here!!

8638 E Palm Lane Scottsdale, AZ 85257

$624,900
3 Beds
2 Baths
1,470 SqFt
Status Active
MLS # 6737598
Property Type Single Family Residence
Price Type --
Freshly updated and just a short drive to Old Town. Large open floor plan. The Farm House Modern style immediately makes you feel at home. Kitchen and laundry room appliances come included. Large pool surrounded by grass. Automatic irrigation. No HOA. Currently has tenants in place for the next 7 months, they are open to continuing lease or ending the lease early as well for an owner/ occupant buyer.

1263 E Brookwood Court Phoenix, AZ 85048

$624,900
4 Beds
3 Baths
2,388 SqFt
Status Active
MLS # 6740181
Property Type Single Family Residence
Price Type --
NEW AC Unit 11/24 -Big price reduction. Beautiful 4 bedrooms plus loft 3 baths home .Private Gated Community. Step inside to a Dream Kitchen with gorgeous re finished white cabinets and upgraded countertops. Stainless steel appliances. kitchen island. Pantry Modern Light fixtures. Cozy great room with recess Lights. Neutral wood plank tile floors. Upstairs features Large Main Bedroom and Bath with separate Tub and shower large walking closet Dual Sinks 2nd & 3rd bedroom with walk in closet. Large open loft is great for playroom, Office or create your own custom space. Laundry Room with cabinets. One bedroom and baths downstairs for your guest or office. Shutters throughout the home. Modern ceiling fans. Low maintenance back yard with pavers and artificial turf area. HOA maintains front yard. Steps away from community pool. This area offers access to 202 freeway. YMCA. Shopping, Foothills Park. South Mountain Preserve for those who love to hike. Come take a Look.

1002 E Pierson Street Phoenix, AZ 85014

$624,900
4 Beds
3 Baths
1,631 SqFt
Status Active
MLS # 6751474
Property Type Single Family Residence
Price Type --
MAIN HOUSE 3 bedroom/2 bath. GUEST HOUSE 1 bedroom/1 bath with a seperate entrance and backyard. The MAIN HOUSE and the GUEST HOUSE are on seperate water meters and electric meters. You'll love the delightful interior of MAIN HOUSE enhanced with soothing paint tones, ceiling fans, beautiful wood-style flooring, & recessed lighting. The impeccable kitchen has sleek SS appliances, captivating quartz counters, matte black wood cabinetry, & a peninsula w/breakfast bar. Primary bedroom offers an immaculate ensuite w/dual sinks, a step-in glass shower, & a walk-in closet. . Take advantage of the updated GUEST HOUSE comes with a sizable living/dining room, a kitchenette, a bedroom, & a bathroom. Out the back, you have a covered patio & a pergola, which are excellent for relaxation.

6750 W Via Montoya Drive Glendale, AZ 85310

$624,900
4 Beds
2.5 Baths
2,539 SqFt
Status Active
MLS # 6756139
Property Type Single Family Residence
Price Type --
Spacious 4-bedroom, 2.5-bath home with over 2,500 sqft of living space! This inviting property boasts a generous floor plan featuring tile and wood flooring in high-traffic areas. The chef's kitchen is a culinary enthusiast's dream, offering abundant cabinet space, a large island with pendant lighting, high ceilings, and stainless steel appliances. The primary bedroom provides ample room with an en suite featuring dual sinks, a separate stand-in shower, and a walk-in closet. Vaulted ceilings and a great room add to the home's open, airy feel. Step outside to a covered patio, ample backyard space with cozy seating areas, and an outdoor fireplace perfect for entertaining. Plus, enjoy the convenience of a 3-car garage. Don't miss out on this gem!

10060 E Tumbleweed Avenue Mesa, AZ 85212

$624,900
3 Beds
2 Baths
1,953 SqFt
Status Active
MLS # 6762798
Property Type Single Family Residence
Price Type --
Popular London Model with 2 bed /2 bath, den, & stunning pool/backyard! One of the most extensive upgraded homes in Encore at Eastmark. High end 24x24 porcelain tile throughout home. Upgraded kitchen package with extended upper & lower cabinets. Upgraded tone toned quartz on island, countertops, and backsplash. No culture marble showers here! High end upgraded bathrooms with tile surrounds to ceiling, deco band, niche, and large sitting bench in oversized walk-in shower. Refreshed Kool deck and 2-stage pool pump in 2022. New exterior paint in 2024. Enormous multi slide back yard patio door with retractable screen. Extended covered patio with semi-custom BBQ grill/Firepit, and bar. Custom blinds in primary room, high end security screen door, as well as ring doorbell/cameras. LOOK see Custom cabinetry in the garage, spacious laundry, and mudroom. Amenities galore in Encore to keep you entertained year-round. A major appeal of this 55+ community is its luxurious clubhouse that offers residents a rich lineup of exclusive indoor and outdoor resort-style amenities for a vibrant and active lifestyle. The 15,000 square-foot Encore Club is the central hub of physical activity and social recreation. It features state-of-the-art facilities such as a fitness center with weights, a cardio room, as well as an aerobics and dance studio where residents can stay in shape without paying expensive gym membership fees. Homeowners can freshen up in the locker rooms and then meet up with friends in the internet café, billiards, or banquet room for some fun. The Encore Club also has a classroom, arts and crafts studio, and library, which is perfect for residents who want to learn or explore a new hobby. They can swim laps in the resort-style pool or relax in the adjacent spa. Residents who want more recreation or a challenging game can play on one of the sports courts provided, including tennis, pickleball, and bocce ball. An event lawn is the perfect place to attend a social function, and the playground is a great spot to spend time with the grandkids when they come to visit. The community is surrounded with parks and natural space as well as miles of meandering walking and biking trails that are ideal for leisurely strolls or brisk jogs. With so many top-notch amenities, residents are sure to stay busy and active throughout the week. In addition to these world-class amenities, the Encore Club also hosts a full calendar of social events, fitness classes, daily activities, social clubs, and special interest groups. An on-site activities director is also available to help plan, organize, and develop new activities, hobbies, trips, and events that allow residents of the community to explore new interests and bond with other like-minded adults. Encore at Eastmark is an active adult community that promotes a vibrant and welcoming lifestyle that retirees will love in Mesa, Arizona.

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