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

$624,900 - 3Br/3Ba -  for Sale in La Strada Condominium, Fountain Hills
Open House
$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.

4730 S Emery -- Mesa, AZ 85212

$624,900 - 5Br/4Ba -  for Sale in Gila River Ranches Unit 1 Desert Valley, Mesa
Open House
$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.

1002 E Pierson Street Phoenix, AZ 85014

$624,900 - 4Br/3Ba -  for Sale in Palo Verde Place, Phoenix
Open House
$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.

15221 N Clubgate Drive Unit 1023 Scottsdale, AZ 85254

$624,500
2 Beds
2 Baths
1,401 SqFt
Status Active
MLS # 6768194
Property Type Apartment
Price Type --
Open and bright floor plan with spacious great room with wood look flooring and freshly painted. Perfect for entertaining home with eat in kitchen overlooking the great room and easy access to the patio area surrounded by lovely landscaping. The Master Suite is spacious with a walk in closet. Oversized 2 car garage. The community pool, spa and exercise facility exudes a resort feeling to relax and enjoy. Walking distance to the Westin Resort and golf course, the high end shops and restaurants of Kierland Commons and Scottsdale Quarter. Living the life of Kierland, urban lifestyle and conveniences with a resort atmosphere.

4690 Sidekick Drive Wickenburg, AZ 85390

$624,500 - 2Br/3Ba -  for Sale in Wickenburg Ranch, Wickenburg
Open House
$624,500
2 Beds
2.5 Baths
2,150 SqFt
Status Active
MLS # 6748703
Property Type Single Family Residence
Price Type --
Nestled in picturesque Wickenburg Ranch, on a corner lot, this exquisite home offers a perfect blend of modern amenities and serene desert living, with an open floor plan; featuring 2 spacious bedrooms, 2.5 well-appointed bathrooms, with sizeable den/office space. The upgraded kitchen has a large island with ample seating, state-of-the-art appliances, and extended counter space and cabinets. Custom shutters adorn the windows providing both privacy and an elegant touch to the home's interior. Indoor outdoor stereo speakers. A fully fenced yard where the backyard is perfect for both relaxation and entertaining with beautiful desert landscaping and a sparkling pool to create a tranquil retreat. This home is a true gem in Wickenburg Ranch, offering a lifestyle of comfort & convenience.

494 S Soho Lane Unit 5 Chandler, AZ 85225

$624,000
4 Beds
3.5 Baths
2,039 SqFt
Status Active
MLS # 6733790
Property Type Single Family Residence
Price Type --
Welcome to the epitome of luxury patio home living at Parkside Villas in Chandler, Arizona! Step into a world of elegance and comfort with our spacious floor plans boasting generous living areas and luxurious kitchens. With 9 foot ceilings on the main floor, natural light floods in, creating a bright and inviting ambiance perfect for any occasion. Choose from our 3 or 4 bedroom layouts, each featuring 3 ½ baths for optimal convenience. Our gourmet kitchens are the heart of the home, seamlessly opening to the family room, making entertaining a breeze. Indulge in upgraded cabinetry, sleek quartz countertops, and top-of-the-line stainless steel appliances throughout, elevating your culinary experience. Relax and unwind in your own private outdoor patio area, where cozy evenings await.

1467 County Rd 3140 -- Vernon, AZ 85940

$624,000
3 Beds
2 Baths
2,840 SqFt
Status Active
MLS # 6750877
Property Type Single Family Residence
Price Type --
LOCATION, LOCATION, A Hunters Dream. gorgeous 5 acres border national forest with lots of ponderosa pines. QUIET area and great VIEWS from 2nd story, Kitchen for a chef- large cabinets (lights top & bottom), double ovens, freezer, and large pantry with electric outlets, Handicap accessible-doors & hallway. Enjoy the fresh air with Double hung windows. Grow your own vegetables in the greenhouse and use the chicken pen for your eggs. Also enjoy 7 apple trees, blackberries, rhubarb and so much more. Two car garage (fits 2 large trucks) or for your toys. No HOA. 20 degrees cooler than Phx. Act fast before this gem is gone. Want another 5 ac next to this? see MLS #6756610.

30317 W Roosevelt Street Buckeye, AZ 85396

$624,000
3 Beds
2 Baths
1,659 SqFt
Status Active
MLS # 6730388
Property Type Single Family Residence
Price Type --
Welcome home to this 3 bedroom, 2 baths, horse property nestled on an over 1-acre lot! Inside, you will be welcomed by the striking vaulted ceilings, tile flooring, Y neutral palette. The spacious great room enjoys plenty of windows & backyard access for a bright and airy entertaining experience. The eat-in kitchen features plenty of wood cabinets w/crown mouldings, SS appliances, granite counters, & a peninsula w/breakfast bar. Have a great night's sleep in the main bedroom boasting soft carpet & an ensuite w/dual sinks & a walk-in closet. The sizable backyard provides a relaxing covered patio storage shed, above-ground spa, corral & stalls for horses. Lighted riding arena with an RV plug. Do not miss this vast lot, perfect for all your projects or RV parking. Don't wait til its too late

170 W Midway Street Payson, AZ 85541

$624,000
3 Beds
2 Baths
2,150 SqFt
Status Active
MLS # 6718786
Property Type Single Family Residence
Price Type --
A little over an acre with great panoramic views of the Rim. Wonderful house with plenty of storage space. Very cozy front room with vaulted ceilings and a great fireplace. Kitchen with walk-in pantry. Large rooms with plenty of storage. Spiral staircase off the front room leads to a loft space above.

3614 W Alyssa Lane Phoenix, AZ 85083

$624,000
4 Beds
3.5 Baths
2,744 SqFt
Status Active
MLS # 6737844
Property Type Single Family Residence
Price Type --
Become the proud owner of this gorgeous residence in Riordan Ranch! Fantastic curb appeal featuring great curb appeal, meticulously maintained landscape, and stunning mountain views. Discover an inviting living room with soaring ceilings, clerestory windows for ample natural light, and a blend of carpet and wood flooring. The great room has sliding doors leading to the backyard w/sparkling pool. The kitchen boasts granite counters, ample wood cabinetry with crown moulding, recessed lighting, SS appliances, a pantry, and a peninsula w/ a breakfast bar. Downstairs features a complete private Guest suite w/bedroom, den & bathroom perfect for in law, guests, nanny etc. Close to 1-17 & 303 & fabulous shopping, dining, movies, schools, medical,short hop to Prescott & Flag. The backyard oasis is highlighted by a covered patio, a pristine lawn, and a refreshing pool for cooling down on hot summer days. Make this gem yours!

417 N Olive -- Mesa, AZ 85203

$624,000
4 Beds
3 Baths
1,791 SqFt
Status Active
MLS # 6730937
Property Type Single Family Residence
Price Type --
Priced below recent appraisal. Your brand new West Coast Farmhouse inspired home is waiting for you. Designer built, Designer finishes. This 1791 Sf, 4 bedroom, 3 bathroom home has a thoughtful open floor plan, and each room is conveniently wired for internet. The fully insulated detached 2 car garage sits on a 10,000 sf xeriscaped lot ready for all your toys. Conveniently located close to Main Street, Hohokam Stadium, Sloan Park, plus easy access to the 202.

3135 W Molly Lane Phoenix, AZ 85083

$624,000
4 Beds
2.5 Baths
2,985 SqFt
Status Active
MLS # 6741058
Property Type Single Family Residence
Price Type --
Priced below others in the area for quick sale, this highly upgraded home has a play pool, heated spa, built in bar in the living room with a wine chiller and a liquor cabinet for entertaining, formal dining convenient to the kitchen, easy to maintain, like new real wood floors throughout, and granite kitchen and bathroom counters. The Large Master bedroom is upstairs with a huge walk-in closet a master bath with a separate shower, jetted tub and a bidet. A spacious loft which could be converted into a bedroom. An office, half bath, with upgraded vanities and all living areas are down stairs. all bedrooms are upstairs. Has two AC units for lower utilities. Window shades, BBQ Island with Fridge and Fire pit Come and see. You will love it.

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