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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2440 N Maple -- Mesa, AZ 85215

$2,285,000
5 Beds
4.5 Baths
5,625 SqFt
Status Active
MLS # 6707552
Property Type Single Family Residence
Price Type --
Indulge in a masterful blend of LUXURY and FUNCTIONALITY in this METICULOUSLY-CRAFTED CUSTOM ESTATE. Nestled in the privately-gated community of Vista Estancia, one of North Mesa's most coveted neighborhoods, this is a RARE BUYING OPPORTUNITY! Perfectly situated on a .81-acre lot, the home is surrounded by lush irrigated citrus, mature trees and features a paved circular driveway and huge grassy lot. The gorgeous back yard features an oversized north-facing covered patio with built-in speakers, and an EXTRAORDINARY FENCED POOL AND SPA, with ample room for laps, 10' deep for diving, and a stunning rock waterfall and slide. Cantera stone details embellish a high-quality colored stucco finish, and the custom entry door is timelessly elegant. Gracing over 5,600 sf of living space, interior features include limestone & travertine flooring, gorgeous Lincoln casement windows, soaring ceilings, and high-quality fixtures. Boasting the 'PERFECT' FLOOR PLAN,' the layout is appealing for many living situations. A TRUE SPLIT FLOOR PLAN, the Primary Suite occupies a separate wing of the home, with a spacious sitting room, romantic fireplace, and a well-appointed ensuite bath with abundant built-in storage and a spacious walk-in closet. Three guest rooms are in another wing of the home; two with private verandas, walk-in closets and one with an ensuite bath. Beyond the great room and kitchen is a flex space, guest bedroom and full bath with endless possibilities as a MULTI-GEN LIVING SPACE, GAME ROOM, PLAY ROOM or MOVIE ROOM! Formal living and dining create a gracious entertaining space, while the GORGEOUS GOURMET KITCHEN with TIMELESS FEATURES and CLEAN LINES features a huge island, Alder wood cabinetry, built-in refrigerator with sleek wood-paneled doors, dual ovens, gas cooktop and so much more. Open to the EXPANSIVE GREAT ROOM with a view into the back yard and pool, a custom wood built-in entertainment wall and relaxing gas fireplace create an inviting atmosphere. Other notable features of this stunning home include full spray-foam insulation, updated HVAC systems (1 brand new), irrigated citrus trees, a HUGE KITCHEN PANTRY AND STORAGE, a secondary climate-controlled storage room, and gorgeous laundry/utility with cabinets, sink and built-in ironing board. Car enthusiasts will love the over 1,100 sf overheight and extended length garage with new epoxy flooring, and space available to build an additional garage if desired. This fully private lot is situated adjacent to a quiet community park with a playground and a basketball court. Vista Estancia is ideally located near the end of a quiet street with minimal traffic, but is just minutes away from the Loop 202 & Sky Harbor Airport, with easy access to downtown Phoenix, Scottsdale and the Mesa Arts Center. Northeast Mesa is a mecca for some of the best hiking, biking, paddling, fishing, golf and tennis in the Valley, as well as being just an hour's drive from the cool pines of Payson. It just can't get any better than this!

10100 N 78th Place Scottsdale, AZ 85258

$2,275,000
3 Beds
3 Baths
3,505 SqFt
Status Active
MLS # 6485528
Property Type Single Family Residence
Price Type --
PICS ARE BOTH FURNISHED AND VACANT: WHEN YOU ENTER THIS LUXURY GAINEY RANCH HOME YOU FIRST MUST ENTER THRU THE LUSH HAWAIIANESQUE OASIS COURTYARD. COMPLETE WITH STREAM AND BRIDGE, ELABORATE WATERFALLS AND FOLIAGE. ENTERTAIN INSIDE AND OUT WITH THE AUTO-RETRACTABLE GLASS WALL. REMODEL INCLUDES APPLIANCES, FLOORING, DOORS, ENERGY EFFICIENT DETAILS, SECURITY FEATURES AND A NEW 4 HOLE PUTTING AND CHIPPING GREEN ALL WITH THE PERKS OF BEING IN GAINEY RANCH ESTATE CLUB (TENNIS, PICKLE BALL,POOL, SPA,FITNESS, SAUNAS & SOCIAL)GOLF CLUB MEMBERSHIP AT THE HYATT AVAIL. ENJOY THE VERY BEST IN RESORT LIVING AT GAINEY RANCH.

24350 N Whispering Ridge Way Unit 22 Scottsdale, AZ 85255

$2,275,000
4 Beds
3 Baths
3,672 SqFt
Status Active
MLS # 6776926
Property Type Single Family Residence
Price Type --
Enjoy stunning sunsets, city lights, and sweeping mountain views from the elevated setting at this luxury home in Troon's gated Whispering Ridge community. Thoughtfully remodeled by Posh Interior Expressions, this residence combines elevated design with exceptional finishes throughout. The extensive renovation was from top to bottom and included features like a new roofing, new HVAC systems, low-e windows throughout, and fresh interior and exterior paint. High-end appliances, custom window treatments, and designer fixtures bring an impressive level of sophistication and function to this unique property. The spacious floor plan of 3,672 square feet offers versatile living spaces, including three bedrooms and two baths upstairs, an oversized laundry room that doubles as an office... or workout area, and a flexible office or fourth bedroom with an adjoining full bath on the lower level. The owner's suite is a private retreat featuring a cozy fireplace, custom closets, and a secluded balcony with unobstructed valley views. Electric blackout shades in the primary bedroom add comfort and convenience, while the home's lock-and-leave ease makes it perfect for those seeking luxury with minimal maintenance. Designed for seamless indoor-outdoor living, the home showcases large-format tile that extends throughout to the outdoor living spaces, creating a harmonious flow from inside to out. Gorgeous white oak flooring graces the upper level of the home along with luxury carpet in the bedrooms. Exquisite lighting, hand-forged stair railing and wall treatments accentuate each room's unique style, while custom details, including three gas fireplaces and a custom-built bar with Scotsman ice maker and beverage fridge, make this a truly distinctive home. The kitchen is the heart of the home with spectacular views from the integrated breakfast area. European cabinetry, quartz countertops, state-of-the-art Decor appliances including a gas range, center island, peninsula seating, and a reverse osmosis system grace this chef inspired kitchen. Fresh landscaping with mature vegetation, two covered patios, multi-tiered yard for lounging and dining, a spa with waterfall and new heater showcase the backyard with the unforgettable views. Other features include: two car garage with epoxy floors and built-in cabinetry; new water heater; Custom Classy Closets; two new propane tanks; new landscape lighting; new security system; laundry chute; original Builder upgrades including a kitchen wing window and sliding door, and a design plan for a future elevator. The home's attention to detail, prime location, and luxurious amenities make it one of the finest view properties in Troon. With furnishings available by separate bill of sale, the home is truly move-in ready.

37200 N Cave Creek Road Road Unit 1125 Scottsdale, AZ 85262

$2,275,000
3 Beds
3.5 Baths
2,414 SqFt
Status Active
MLS # 6659637
Property Type Townhouse
Price Type --
Upon entering the secluded courtyard of this unique property, you immediately recognize you've discovered a remarkable place. This ground-level home, resembling a personal oasis, was built in 2020 and features an open floor plan with modern, high-end finishes throughout. Comprising 3 bedrooms and 3.5 baths, it's designed to impress at every turn. Conveniently located near the Desert Mountain Club, the residence includes private terraces that enchant both residents and guests. Perfectly situated on the third hole of the Seven Par 54 Golf Course, this home offers both luxury and accessibility.

3021 W Feather Sound Drive Anthem, AZ 85086

$2,275,000
3 Beds
4 Baths
3,476 SqFt
Status Active
MLS # 6734505
Property Type Single Family Residence
Price Type --
Exquisite Golf Course Estate in Exclusive Guard-Gated Community Discover unparalleled luxury and elegance in this newly renovated 3-bedroom en-suite, 4-bathroom estate, nestled in multi-million dollar custom homes on an elevated premium golf course lot with breathtaking mountain views. Located in a prestigious guard-gated community boasting two championship golf courses and serene surroundings, this home offers an exceptional blend of sophistication and modern amenities with no expense spared. Key Features: Tesla Solar Panels: Embrace sustainability with state-of-the-art Tesla solar panels (owner owned), ensuring energy efficiency and cost savings, minimizing your environmental footprint. Private Pool: Relax and entertain in style with a heated resort-style pool and spa, complemented by expansive outdoor living spaces and stunning views. Perfect for relaxation and entertaining. Chef's Kitchen: Create culinary masterpieces in the gourmet chef's kitchen, equipped with top-of-the-line appliances, sleek countertops, and custom soft close cabinetry with ample storage. Guard-Gated Community: Experience peace of mind in a secure environment with 24/7 guard-gated access, ensuring privacy and safety for you and your family. Award-Winning Golf Courses: Tee off on world-class golf courses just steps from your door, perfect for enthusiasts of all skill levels and offering picturesque views. Mountain Views: Admire panoramic mountain views from multiple vantage points throughout the home including a 20' window wall, providing a tranquil backdrop to everyday life. Luxurious Amenities: Revel in the convenience of a built-in wine cellar, soft water system, newer installed A/C units, open concept floor plan, coffee bar ensuring comfort and luxury year-round. Master Suite Retreat: Retreat to the expansive luxurious master suite featuring a spa-like bathroom, oversized walk-in closet, and serene views. Three-Car Garage: Ample space for vehicles and storage in the attached three-car garage, equipped with custom cabinetry and workplace. Location: Situated in a prime location within the community, this home offers easy access to upscale shopping, dining, and entertainment options, while also providing a peaceful retreat from city life. Your neighborhood: Anthem Golf and Country Club boasts private resort style amenities including 36 holes of championship golf, pro shop, 2 clubhouses, premier dining, tennis, swimming, bocce ball, tennis, pickleball, fully equipped fitness centers, spa, yoga, and access to several hiking trails. Whether you have children or grandchildren this is the community you want to live in. From A rated schools to gorgeous parks that include fishing, playgrounds, soccer fields, baseball fields, skate park, walking/jogging paths with waterfalls and ducks. Large community center with every indoor amenity you can think of from rock climbing, ping pong, basketball and private waterpark. There's never a shortage of events, whether it's a concert in the park, football games, farmers market, or Easter Egg Hunt!! Perfect for: Ideal for discerning buyers seeking a blend of luxury, privacy, and exclusive amenities, this meticulously crafted home embodies the epitome of upscale living. Don't Miss Out: This is a rare opportunity to own a prestigious property in one of the area's most coveted neighborhoods. Situated along the 6th hole of Anthem Golf & Country Club this home is sure to impress your family and friends! don't miss out on your chance to experience the luxury and tranquility that define this exceptional residence.

10316 N 48th Place Paradise Valley, AZ 85253

$2,275,000
5 Beds
3 Baths
3,437 SqFt
Status Active
MLS # 6769042
Property Type Single Family Residence
Price Type --
Welcome to your beautifully remodeled dream home in the heart of Paradise Valley! Offering 5 bdrms, 3 bathrooms & a 3 car garage on a large 1/2 acre lot this home provides plenty of space for relaxation & entertaining. The fully remodeled home features a stunning new kitchen with Thermador & sub zero appliances with double islands. The primary suite is a true sanctuary with fireplace & spa like bathroom. Step outside to a beautifully landscaped backyard with a sparkling pool & spa, perfect for warm Arizona days, and a covered patio ideal for al fresco dining..Don't miss the opportunity to own this magnificent property in one of Arizona's most sought-after locations in the 3 C's School district. Priced $175k below appraised value!

5911 E Voltaire Avenue Scottsdale, AZ 85254

$2,275,000
5 Beds
4.5 Baths
3,647 SqFt
Status Active Under Contract
MLS # 6769735
Property Type Single Family Residence
Price Type --
Experience soft modern luxury in the magic 85254 zip code! This breathtaking 5 bedroom, 4.5 bath residence was extensively rebuilt with over 1000 sqft of new living space and 10+ ft ceilings in the main living area and primary suite. Experience elegance in every corner, from the grand kitchen featuring stained cabinets and top-tier Thermador appliances to the dreamy butler's pantry. Indulge in the spa-like primary suite with its large walk-in shower, freestanding tub and expansive primary closet. Step outside to an entertainer's paradise, complete with limestone pavers, a newly refinished diving pool, and a brand-new built-in BBQ. The floor plan was thoughtfully redesigned, with 3 ensuite bedrooms with walk-in closets, a moody powder bath, and generously sized laundry room. Premium finishes are evident throughout, including white oak engineered hardwood flooring, elite Brizo plumbing fixtures, and carefully selected designer lighting. Nearly everything is new in this home including updated plumbing, electrical, HVAC, roof, garage door, and landscaping. Nestled in the heart of Scottsdale, this gem is just moments away from top local dining and attractions, making it ideal for those seeking both luxury and convenience.

11023 E Mirasol Circle Scottsdale, AZ 85255

$2,275,000 - 3Br/3Ba -  for Sale in Mcdowell Mountain Ranch Parcel G North, Scottsdale
Open House
New
$2,275,000
3 Beds
3 Baths
3,315 SqFt
Status Active
MLS # 6789216
Property Type Single Family Residence
Price Type --
WOW...Breathtaking views of Camelback Mtn & City Lights from this magnificent home overlooking Natural Open Space in guard-gated 100 Hills. Rarely available, front-row, south-facing, level lot with Heated Pool, Spa, Waterfall, Firepit and extraordinary views! Spacious Great Room with 12' ceilings; Three bedrooms plus large den; Three full baths; Three-car garage. Recent upgrades include Tesla Solar System with PowerWall batteries, Tesla EV Chargers; Tankless Hot Water with Recirc Pump; Whole-Home Filtration; Garage Epoxy; Toto Washlets; Luxury ceiling fans; New SS Fridge Drawers, Beverage Fridge and Bosch DW; New Security System and more. Prior renos include: Kitchen with SS appliances, granite, custom cabinets; and renovated baths (2011-2013); Custom built-ins (Dining, Living, Laundry, Garage) and Tiled FP (2018-2019). Oversized primary suite with sitting area, huge walk-in closet and sunny views for miles. Backyard oasis with unsurpassed Sunsets, City Lights and Gorgeous Mtn Views! A Must See!

18558 N 92nd Place Scottsdale, AZ 85255

$2,266,325
3 Beds
3.5 Baths
2,749 SqFt
Status Active
MLS # 6691872
Property Type Single Family Residence
Price Type --
Amazing and last opportunity for new build construction in DC Ranch. Timeless contemporary architecture-2749 sq ft-all single level, 3 bedrooms, 3.5 bathrooms home with 2 car attached garage. Oversized great room concept with stunning drop down ceiling and multi stack doors all opening towards courtyard. Brand new Camelot floor plan offering the design and livability of a larger home but right sized. Front yard landscaping design and installation is included. Buyer still can customize and select all interior finishes.

3875 S Flagstaff Ranch Road Flagstaff, AZ 86005

$2,260,000
5 Beds
4.5 Baths
3,511 SqFt
Status Active
MLS # 6742639
Property Type Single Family Residence
Price Type --
You might call this ''The Crown Jewel of Flagstaff Ranch,'' where you can see golf holes 9, 10, 13, 15 and 16 from this home! Immediately upon entering this highly upgraded home, the Picturesque Views of 5 different golf holes on Flagstaff Ranch will have you sold! Breathtaking views and the high-vaulted ceilings are complimented by the spacious, functional and captivating living area and kitchen. The kitchen boasts a double island, one of which is for entertaining and equipped with ice maker a wine fridge and the other houses a prep sink —a chef's delight! Speaking of a chef's delight, there's a 6-burner Wolf gas stove and an oversized Subzero freezer and fridge that neighbors an oversized walk-in pantry. Enjoy watching layers of golfers EVERYWHERE and beautiful Flagstaff skies from your living room or covered patio that showcase the panoramic views. Soak in Sunsets like you've never seen, while you listen to music on this home's Control 4 indoor/outdoor Sound System! You can easily access the Chuckwagon or The Turn snack shop with a quick stroll down Flagstaff Ranch Rd. Private dining room has views of the 15th and 16th holes. Ideally positioned windows all throughout the home best highlight golf course, tree and sky views all over. Caldera and Peak views also within reach. Downstairs is the Primary bedroom with fireplace and great views even in the bathroom. The bathroom is spacious with beautiful Restoration Hardware double sink and large closet...and in-floor heating to keep your feet warm! A second bedroom is downstairs, a Junior Primary Suite with wet bar and also has attached bathroom with dual sinks and shower. Rounding out the downstairs is a centrally located enclosed room with views of holes 15 and 16, which can be used as an office or kids playroom. Upstairs are three additional bedrooms, one of which is en suite. Stair access is conveniently located near garage door so as to not disturb occupants in the primary or junior suite on the opposite end of the home. Important rain or shine is a a covered patio, which this property has in addition to a level driveway which is all-weather friendly and most desirable, especially in the winter. Structural Builder's Warranty is transferable to new seller. This estate is both private with close access to the entry gates and has everything you could imagine and more! Did you know? Flagstaff Ranch is a top-rated golf course and is now Troon Managed! Flagstaff Ranch is ranked in the TOP 20 in Arizona by Golfweek!

29537 N 155th Avenue Surprise, AZ 85387

$2,250,000
4 Beds
3.5 Baths
5,114 SqFt
Status Active
MLS # 6756050
Property Type Single Family Residence
Price Type --
Welcome to an unparalleled estate that seamlessly blends luxury living for horse and car enthusiasts on 8 gated acres. This property is designed with the discerning equestrian in mind, featuring ample space and tranquil surroundings perfect for riding and training. The main residence, showcasing 4 bedrooms and 3.5 baths, exudes timeless elegance with refined finishes throughout. Culinary enthusiasts will love the gourmet kitchen, equipped with Viking appliances and a central island, perfect for post-ride meals. The home also offers a private movie theater, a sprawling primary suite, and two grand fireplaces, creating a warm and inviting ambiance. Car lovers will be thrilled by the massive detached 3,000 sqft garage, ideal for housing RVs, classic cars, or any prized vehicles. This versatile space provides ample room for car restoration projects or simply securing your collection. Step into your backyard oasis, where a sparkling pebble tec pool awaits, perfect for Arizona's sunny days. Designed for both relaxation and entertaining, the outdoor area includes a BBQ station and a professional-grade misting system that keeps you cool on the hottest days. Low-maintenance turf adds lush greenery without the hassle, creating a perfect setting for gatherings or peaceful solitude. The estate is equipped with owned solar panels, delivering energy efficiency and significant savings. Additionally, the property features its own private well, providing a reliable water source for both household and equestrian needs. This estate offers the ultimate lifestyle for those passionate about horses, cars, or simply enjoying the finer things in life. Whether you're cooling off by the pool, working on your car collection, or riding through the serene grounds, this property is the perfect blend of luxury, functionality, and comfort. Make it your private sanctuary and experience the best of both worlds.

26808 N 150th Street Scottsdale, AZ 85262

$2,250,000
3 Beds
3.5 Baths
2,746 SqFt
Status Active
MLS # 6740182
Property Type Single Family Residence
Price Type --
DISCOVER A SERENE DESERT OASIS surrounded by mountain views. Nestled in a horse-friendly community, this property is conveniently located near the entrance of the picturesque McDowell Mountain Regional Park. The park offers a myriad of outdoor activities, including 50 miles of trails dedicated to hiking, mountain biking and horseback riding. This exquisite custom home, constructed in 2020, boasts 3 bedrooms, 3.5 bathrooms, and a spacious 2,740 square feet of living space. A private well with a 5,000-gallon underground storage tank ensures a reliable water supply. The property features a 3-car extended length garage, including epoxy floors, insulation, and ample space for trucks and storage. The home's interior is elegantly designed with all tile floors and granite countertops, offering a clean low-maintenance living experience. The luxurious primary suite serves as a true sanctuary, complete with fireplace, jetted tub and large walk-in closet. For equestrian enthusiasts, the property includes a meticulously designed horse setup with a MD Barnmaster 4-stall barn, featuring a tack room, hay storage, raised center aisle with porch, windows, end doors, and stall doors. The barn is equipped with amenities such as electricity, automatic waterers, and stall mats for the comfort of your horses. The 5-acre property has low-maintenance desert landscaping and is securely enclosed with a 5 foot high, 4-pipe rail, no climb fencing, providing a safe and secure environment. Seize the opportunity to experience the tranquility and unique features of this exceptional property, priced below appraisal. Discover why this home is truly one-of-a-kind.

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