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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791 W Rock Needle Trail Apache Junction, AZ 85120

$619,990
3 Beds
2.5 Baths
2,473 SqFt
Status Active
MLS # 6730540
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. This exquisite Parklane model, priced for a quick sale and set for August completion, offers 3 bedrooms, 2.5 baths, and a versatile den. The chef's kitchen with a 36'' gas cooktop, wall oven, and pearl white quartz countertops is perfect for entertaining. Additional features include a 2' garage extension, 3-car tandem garage, and a luxury shower with dual shower heads in the owner's bath.

1471 W Saddle Run Apache Junction, AZ 85120

$619,990
5 Beds
3.5 Baths
3,027 SqFt
Status Active
MLS # 6750829
Property Type Single Family Residence
Price Type --
Up to 3% of base price or total purchase price, whichever is less, is available through preferred lender plus additional 2% of base price or total purchase price, whichever is less, is available to be used toward closing costs, pre-paids, rate buy downs, and/or price adjustments. The Prato floor plan is an elegant two-story home featuring five bedrooms, an upstairs loft, and a spacious flex area perfect for an office, TV room, or study. Complete with front yard landscaping, this home will be ready for occupancy by October or November. It is conveniently located near community parks, grocery stores, and restaurants.

16430 W Desert Mirage Drive Surprise, AZ 85388

$619,990
4 Beds
3 Baths
2,623 SqFt
Status Active
MLS # 6754292
Property Type Single Family Residence
Price Type --
MOVE-IN THIS HOME BY THE HOLIDAYS!!! It's the stunning Topaz - 4 bedrooms with walk in closets + study and 3 full baths. Plenty of counter space and large walk in pantry. Pavers at drive, walk and entry. Large extended covered patio. Beautiful kitchen includes gas appliance package with stainless steel 30'' cooktop, wall oven and hood. Sonoma maple ''Linen-off white) cabinets with 42'' kitchen uppers with pull out trash drawer. AZT Tawny quartz countertops at kitchen. Black single bowl under mount sink. Upgrade flooring includes Beaumont Olmo 7x24 plank tile with 5'' baseboards and 3 1/4'' door casings throughout. Two tone interior ''Great Gray'' paint throughout. 8' tall garage doors and so much more.

26851 N 67th Drive Peoria, AZ 85383

$619,990
3 Beds
2.5 Baths
2,051 SqFt
Status Active
MLS # 6711432
Property Type Single Family Residence
Price Type --
READY NOW-turn key! Experience the charm of Aloravita, nestled within the scenic mountains of Peoria. This community boasts breathtaking views and is conveniently located minutes away from shopping, dining, hiking trails and more! Our popular 'El Dorado' floorplan features 3 full bedrooms, 2.5 bathrooms, 2 Car-Garage and a private yard with views! Designer selected finish includes Burlap Cabinetry, Quartz Kitchen Countertops, Wood Like Tile Throughout, and Plush Carpet in all the bedrooms. This beautiful home will have it all including 9' ceilings, Gourmet Gas Kitchen, Smudge Proof Stainless Steel Appliances, Blinds, Pre-Plumb for Soft Water, and Smart Home Technology. Photos and virtual tour of similar spec home, options may vary**

9849 E Radioactive Drive Mesa, AZ 85212

$619,990
4 Beds
3 Baths
2,137 SqFt
Status Active
MLS # 6766186
Property Type Single Family Residence
Price Type --
FUNCTIONAL 4 BED + 3 FULLBATH. GREAT GILBERT SCHOOL DISTRICT. FAST GROWING EASTMARK, GREAT APPRECIATION OF PROPERTY VALUE! FULLY LANDSCAPED FRONT & BACKYARD, COVERED PATIO, PAVERS, BUILT-IN BBQ GALORE, DRYBAR, & FIRE PIT. PAVER DRIVEWAY TO ENTRY TOO! MANY UPGRADES INCLUDE: WOOD-LIKE TILE FLOORING, SHUTTERS, ELEGANT TRIPPLE-PANEL SLIDING GLASS DOOR, 8 FOOT INTERIOR DOORS, NEW LAMINATE WOOD FLOOR IN MASTERBED, LARGE SHOWER IN MASTERBATH, UPGRADED PLUMBING & LIGHTING FIXTURES & CEILING FANS THROUGHOUT, UPGRADED BASEBOARDS, APPLE KIT COMPATIBLE SMART HOME, WATER SOFTENER SYSTEM, EPOXY GARAGE FLOOR. KITCHEN FEATURES: 42'' CABINETS WITH HARDWARE, GRANITE COUNTERTOPS WITH UNDERMOUNT SINK, R/O SYSTEM, & SLATE APPLIANCES. FRIDGE/WASHER/DRYER TOO! A NEWER BUILT WITH N/S EXPOSURE = ENERGY SAVERS!

19611 W Marshall Avenue Litchfield Park, AZ 85340

$619,990
4 Beds
3.5 Baths
2,640 SqFt
Status Active
MLS # 6769605
Property Type Single Family Residence
Price Type --
Looking for a new home that is move in ready? You've found it! This beautiful 4 bed, 3.5 bath residence in Canyon Views boasts over 165K in upgrades, it has great curb appeal, paid off Solar, Gourmet Kitchen, 2nd ensuite, Surround Sound, Pool, Large Lot, EV Charging station & Double Gates. Discover a spacious open floor plan w/elegant wood-look tile flooring and neutral palette throughout. The gourmet kitchen is comprised of upgraded cabinetry w/quartz counters, a pantry, tile backsplash, stainless steel appliances, pendant lighting, and an island complete w/a breakfast bar. You'll love the primary bedroom, showcasing soft carpet, a walk-in closet, and a pristine ensuite w/dual sinks. You'll also find a large den ideal for an office or reading nook! Lastly, the spacious backyard includes a covered patio with built in BBQ Grill, exterior double fridge, artificial turf and a refreshing pool with water feature.

1918 N 22nd Place Phoenix, AZ 85006

$619,990 - 4Br/3Ba -  for Sale in St Agnes Park, Phoenix
New
$619,990
4 Beds
3 Baths
1,950 SqFt
Status Active
MLS # 6782248
Property Type Single Family Residence
Price Type --
BRAND NEW BUILT!!! with NO HOA. This home features 2 MASTER SUITES and a Large Open floor plan with 9ft ceiling height with a large Living Room and Dinning area. Kitchen with White Cabinetry, Granite Counter Tops and STAINLESS STEEL APPLIANCES. Tile throughout the high traffic areas of the house and new carpet in the bedrooms. The house layout provides an open space feeling from the moment you enter the door. All bedrooms are of pretty good size and the bathrooms are upgraded with tile. RV gate on the backyard. The Best of all is that you are moving into a BRAND NEW HOME with NO HOA!

309 S Charleston Court Casa Grande, AZ 85194

$619,900
4 Beds
2.5 Baths
2,374 SqFt
Status Active Under Contract
MLS # 6762631
Property Type Single Family Residence
Price Type --
Introducing your dream home, custom-built modern farmhouse nestled on a generous 1.25-acre lot with irrigation rights. This house offers not just a home but a lifestyle. With 4 spacious bedrooms, including a luxurious primary bedroom and 2.5 well-appointed bathrooms, comfort is at your fingertips. Step inside and savor the charm of wood-like tile flooring throughout this open-plan sanctuary. Cooking enthusiasts will fall in love with the chic custom cabinets and sleek quartz countertops in the kitchen. Energy efficient features dual-pane windows and spray foam insulation. Let's not forget the practical perks: a sizable 3-car garage ensures that your vehicles and toys are safely tucked away. Nestled in a serene neighborhood in Casa Grande, This home is waiting for you.

8014 E Plata -- Mesa, AZ 85212

$619,900
4 Beds
2 Baths
2,532 SqFt
Status Active
MLS # 6732961
Property Type Single Family Residence
Price Type --
Single story home on a corner lot that offers a split floor plan, with large open kitchen which features stunning soft glide cabinets, top of the line stainless appliances with built-in oven and microwave, large island, pendent lighting. The spacious master suite overlooks the backyard with a walk-­in closet that is truly larger than most bedrooms. RV Gate. Solar swimming pool panel owned. Located across the street from the park & walking trails & just minutes from the 60 & 202 fr-ways and San Tan Village.

3019 E Marilyn Road Phoenix, AZ 85032

$619,900
3 Beds
2 Baths
1,832 SqFt
Status Active
MLS # 6733523
Property Type Single Family Residence
Price Type --
Nestled in the highly sought-after neighborhood of Cimarron Ridge, this wonderful entertainment home offers the perfect blend of comfort and luxury. Enjoy the serene ambiance of a quiet cul-de-sac, complemented by a spacious yard. The property features a stunning Pebble Tec pool and spa, ideal for relaxation and entertaining. Don't miss the opportunity to own this gem in a prime central location!

23095 S 230th Street Queen Creek, AZ 85142

$619,900
4 Beds
3 Baths
2,799 SqFt
Status Active Under Contract
MLS # 6741650
Property Type Single Family Residence
Price Type --
Perfect home to get into just before the holidays!! Such a welcoming home, that feels cozy from the moment you walk up to the front door. The updates are stunning! Upon entering, you will notice the beautiful entryway, 10 foot high ceilings, 8ft interior doors throughout, staggered tile throughout in all main walkway areas, and breathtaking huge kitchen. The GOURMET kitchen features a large island with double the cabinet space on both sides, 42in upper cabinets, QUARTZ counters, TILED backsplash, DUAL ovens, HUGE walk-in pantry, updated NEW chandelier over dining table, & stainless steel appliances. (MORE...) The split floor-plan is the perfect set-up with a GAME/BONUS room on one side as well! Master bedroom features 2 WALK-IN CLOSETS, a huge full bathroom with an elegant stand alone tub, & large shower. Recessed lighting in every room! The large laundry room is to die for and it includes a built-in sink and much cabinet space for storage. The huge garage is a 3 car-tandem with epoxy coated floors, and can fit all your toys and full size pick-up truck. R/O and Soft Water System is owned and included with the sale too! Both the front and back of home have added walkway pavers, including a new gazebo with pavers out back and synthetic grass. Back patio has pre-wired ethernet & coax cables with 2 outlets and TV mount for your backyard entertainment! Did I mention the very private backyard that backs up to your neighborhood greenbelt and only single level homes on sides? Other updates include all new interior carpets installed in 2021, new interior paint, new front and back exterior paint, rain gutters, and fiber optic internet available to box. This home does not dissapoint!!

4131 E Cathedral Rock Drive Phoenix, AZ 85044

$619,900
4 Beds
2.5 Baths
2,450 SqFt
Status Active Under Contract
MLS # 6750221
Property Type Single Family Residence
Price Type --
Back on market after full-price cash buyer had to walk! Welcome to your dream home! This stunning 4-bed, 2.5-bath home boasts 2,450 square feet of beautifully updated living space. Situated on an oversized corner lot, the property offers both privacy and ample space for outdoor living. Inside, you'll find tasteful updates throughout, including new flooring, light fixtures and faucets (and interior/exterior paint from 2019). Major updates (roof, both AC units, water softener, extra attic insulation) have also been done in the last 5 years providing peace of mind. Enjoy the community's top-notch amenities with access to pools, parks, and tennis courts plus great schools and shopping nearby. This home is the perfect blend of comfort, style, and convenience you will love!

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