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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5993 S Rockwell Court Gilbert, AZ 85298

$623,000
4 Beds
2 Baths
2,348 SqFt
Status Active
MLS # 6748295
Property Type Single Family Residence
Price Type --
Welcome this beautiful home in the highly sought-after Shamrock Estates! This single-story home is perfectly situated on a premium oversized lot that offers an abundance of privacy, backing up to a serene greenbelt. Located on a quiet cul-de-sac street with a small community park right behind, this home provides a peaceful and family-friendly environment. Boasting 2,348 square feet of thoughtfully designed living space, this 4-bedroom, 2-bath home includes a versatile den, perfect for a home office or additional guest room. The open great room layout is ideal for entertaining, featuring stunning granite countertops, upgraded cabinets, and stainless steel appliances. The low-maintenance backyard is perfect for relaxation and play, with a combination of pavers and grass. Located in a desirable neighborhood, Shamrock Estates is known for its excellent community atmosphere and proximity to top-rated schools, including Chandler Traditional Academy. Amenities include children's play area, basketball and volleyball courts, BBQ area and walking paths throughout the community. Don't miss out on the opportunity to own this exceptional home in one of the best locations in the area.

7313 E Fillmore Street Scottsdale, AZ 85257

$623,000
4 Beds
2 Baths
1,841 SqFt
Status Active
MLS # 6762777
Property Type Single Family Residence
Price Type --
Well maintained single story home with great South Scottsdale location. Close to ASU and Old Town. The appealing interior boasts updated flooring, neutral paint, a welcoming living room, large eat-in kitchen with sliding glass door leading to back patio. Kitchen equipped with updated stainless steel appliances including new D/W, granite counters, ample cabinet space, a peninsula with breakfast bar. French doors of master leads to a spacious yard. Approximately 224 sqft Casita offers exercise room/ office. Large workshop shed only steps from RV Gate. Large side yard to store all your toys. New electrical house panel and cast in 2021. Insulation updated 2021. New Hot water heater 2023. Great Investment opportunity!

2730 Nelson Lane Chino Valley, AZ 86323

$622,462
3 Beds
2 Baths
2,076 SqFt
Status Active
MLS # 6776501
Property Type Single Family Residence
Price Type --
BRAND NEW I Quick Move-in 1 Acre Lot in Peaceful Heritage Pointe. Nestled in Chino Valley, just outside of Prescott! This charming community offers a haven for families seeking an exceptional living experience. The homes in this community are build on 1-acre homesites, so you and your family can enjoy privacy while taking in the picturesque atmosphere. Heritage Pointe offers 7 distinct floorplans, modern amenities, open-concept layouts with designer finishes. For those enjoying travel, opt for a floorplan that includes an RV Garage! You won't want to miss out; plan a visit with us today.

17338 W Royal Palm Road Waddell, AZ 85355

$622,230
3 Beds
2 Baths
2,134 SqFt
Status Active
MLS # 6778324
Property Type Single Family Residence
Price Type --
December Move-In, RV 40ft Garage, plus 2-car garage, Large Lot, 3 Bedrooms, 2 Baths with Large Covered Patio, 42'' Derby Birch Cotton Cabinets, Brushed Flannel Quartz Countertops, Subway Tile Backsplash, Oceanside Cottage 6x36 tile with Bit of Gray carpet, Built-in LG Gourmet SS Appliances, Micro/Wall Oven, Gas cooktop, Laundry Cabinets with Sink, Barn Door at Master Bedroom, Interior Paint Faded Gray, Gas Stub at Patio, Soft Close Doors & Drawers, Security System, RV Dump, 10ft Double Gate, Large Drive way.

1432 E Culver Street Phoenix, AZ 85006

$622,000
3 Beds
2 Baths
1,680 SqFt
Status Active
MLS # 6755851
Property Type Single Family Residence
Price Type --
Seller is offering $10,000 in Seller concessions to a Buyer with a Strong offer; to be used for a rate buy down, lender fees, and closing costs! Also, a substantial Home Buyer's Grant may be available for certain buyers! This amazing Central Phoenix home has been completely remodeled and EVERYTHING has been replaced within the home down to the original brick walls! All the work completed is fully permitted by the City of Phoenix! New roof, windows, wiring, electrical panel, Trane AC unit, doors, framing, plumbing, drywall, baseboards, kitchen, brand new stainless steel appliances, new bathrooms, paint, flooring, landscaping, and the list goes on. The home is fully insulated with foam insulation, brand new duct work, synthetic stucco system, new gates, everything you see is brand new. Near Roosevelt Row, Downtown Phoenix, near freeways, restaurant, shopping, and great schools! Neighborhood is surrounded by the Coronado and Garfield Historic Districts.

4828 W Stargazer Place Laveen, AZ 85339

$621,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6686946
Property Type Single Family Residence
Price Type --
The Deacon plan includes an attached RV garage, plus two car tandem garage! Inside, a well-appointed Gourmet kitchen with a walk-in pantry, Quartz counters Shaker cabinets and stainless-steel appliances is flanked by a great room and a dining room with covered patio access and center meet door. You'll also appreciate an elegant primary suite with a private bathroom featuring Deluxe walk-in shower and ample walk-in closet space. A mudroom, a convenient laundry and a flex room will complete the plan. Select homes will include deluxe options in the primary bathroom and gourmet features in the kitchen.

4738 W Stargazer Place Laveen, AZ 85339

$621,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6693066
Property Type Single Family Residence
Price Type --
The Deacon plan includes an attached RV garage, plus two tandem garage bays! Inside, a well-appointed gourmet kitchen with a walk-in pantry is flanked by a great room and a dining room with covered patio access. You'll also appreciate an elegant primary suite with a private bathroom, deluxe bathroom with separate shower and garden tub as well as ample walk-in closet space. A mudroom, a convenient laundry and a flex room will complete the plan.

20218 W Hollyhock Street Buckeye, AZ 85396

$621,995
4 Beds
3 Baths
2,630 SqFt
Status Active
MLS # 6698296
Property Type Single Family Residence
Price Type --
Ease and Elegant design blend beautifully in this ranch-style Pomona plan at our Estates at Arroyo Seco in Buckeye. An inviting great room is at the heart of the open layout, adjacent to a dining nook and a gourmet kitchen showcasing 42'' white shaker cabinets with brushed nickel pulls, quartz countertops, full tile backsplash, GE Plus stainless-steel appliances w/pyramid hood and 36'' gas cooktop, center island with an undermount stainless-steel sink. The impressive primary suite offers a walk-in closet and a private bath that includes dual vanities and a tiled deluxe walk-in shower with rain shower. Three additional bedrooms and two additional bathrooms, a central study and a laundry round out the floor plan, which includes a multi-slide door leading out to a covered patio, a 2-car garage, a 1-car side turn garage, paver driveway and walkway and front yard landscaping. This home also includes 10' ceilings, Two-Tone paint package, Pendant lighting at the kitchen island, 9 x 35 tile flooring throughout with carpet only in the bedrooms, ceiling fan pre-wires at all bedrooms, study, great room and patio, exterior coach lights, pre-plumb sink at the laundry room, garage service door at 2-car garage, gas stub at the patio and soft water loop pre-plumbed in the garage. Located on an 8760 square foot corner lot.

10429 S 47th Lane Laveen, AZ 85339

$621,995
4 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6700668
Property Type Single Family Residence
Price Type --
The Deacon plan includes an attached RV garage, plus two tandem garage bays! Inside, a well-appointed gourmet kitchen with a walk-in pantry is flanked by a great room and a dining room with covered patio access with center meet back doors. You'll also appreciate an elegant primary suite with a private bathroom deluxe walk in shower and ample walk-in closet space. A mudroom, a convenient laundry and a fourth bedroom will complete the plan.

4735 W Stargazer Place Laveen, AZ 85339

$621,995
3 Beds
2.5 Baths
2,630 SqFt
Status Active
MLS # 6707290
Property Type Single Family Residence
Price Type --
An inviting covered porch welcomes guests to the charming Pomona plan. A spacious great room is at the heart of the open layout, adjacent to a roomy breakfast nook and an impressive kitchen with a walk-in pantry and center island. This home will be built with either a study and interior guest quarters. The lavish primary suite offers a generous walk-in closet and a private bath with double sinks. A convenient laundry and covered patio are also included as well as a 3 car garage.

20266 W Hollyhock Street Buckeye, AZ 85396

$621,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6717191
Property Type Single Family Residence
Price Type --
8760 sqft lot- Gourmet kitchen, quartz countertops, full tile backsplash, white cabinets w/extension at nook, pendant lights at island, stainless steel appliances w/pyramid hood & gas cooktop - Multi-slide door at great room - Drop-in tub at primary bath - Pre-plumb locations at laundry room, soft water loop, gas to patio - 9 x 35 tile floors throughout except for carpet in bedrooms - Satin nickel fixtures throughout - Ceiling fan pre-wires at bedrooms, patio and great room - 10-foot ceilings - Two-tone paint - Garage service door

10519 S 47th Lane Laveen, AZ 85339

$621,995
3 Beds
2.5 Baths
2,390 SqFt
Status Active
MLS # 6720455
Property Type Single Family Residence
Price Type --
This Deacon plan includes an attached RV garage, plus two tandem garage bays! Inside, a well-appointed gourmet kitchen with 42'' white cabinets, quartz counters, black matte fixtures, and a walk-in pantry. The kitchen is flanked by a great room and a dining room with center meet doors opening to the covered patio. This home is finished with stone tile and carpeted bedrooms. You'll also appreciate an elegant primary suite with a private deluxe bathroom with large walk-in shower, dual sinks, and ample walk-in closet space. A mudroom, a convenient laundry and a flex room complete the plan.

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