Home Builder Index Dips in January

January’s National Association of Home Builders Housing Market Index dipped two points from December’s revised reading of 69 to 67;  the index reading forecast for January was also 69.Analysts said that January’s reading was the second highest (after December 2016) since the peak of the housing bubble in 2005. January’s dip in builder sentiment was attributed to easing of builder enthusiasm, which spiked right after the U.S. presidential election. To put January’s home builder confidence reading in context, NAHB says that any index reading over 50 indicates that more builders than fewer have confidence in housing market conditions.

NAHB Sub–Index Readings for January

Three sub-index readings are used in compiling the NAHB Housing Market Index reading. Builder confidence in current housing market conditions fell three points to 72; builder confidence in housing market conditions over the next six months fell two points to 76. Builder confidence in buyer traffic in new housing developments dropped one point to 51.

Builders surveyed continued to cite the cost of new lots for development and the lack of skilled labor as obstacles to higher builder confidence.

After releasing January’s index readings, the NAHB said that while January’s readings were lower than those for December, a majority of builders have expressed confidence that the new administration will reduce regulatory pressure on home builders. NAHB also cited home builder concerns over mortgage rates, which rose nearly a percentage point in November and December before falling. Despite ongoing concerns, builder sentiment has steadily improved over time. On average, builder confidence averaged a reading of 61 in 2016 against 2015’s average reading of 59 and the 2014 average reading of 52.

Builder Outlook Seen as Key to Easing Home Shortage

Real estate and mortgage pros have consistently said that building more homes is necessary to ease the ongoing shortage of available homes. NAHB’s Housing Market Index is closely followed as a benchmark of home builder confidence. Higher builder confidence in current and future housing market conditions is viewed as a potential indicator of home building activity, but housing starts have not been uniformly allied with builder confidence.

Shortages available homes creates high demand creates concerns for potential buyers seeking affordable homes. Rapidly rising home price, particularly in high demand metro areas, have sidelined buyers who cannot compete against buyers making cash offers on homes with rapidly escalating prices.   For more information give me a call – J.P. Cook – 602-320-4253.

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5641 N Echo Canyon Circle Phoenix, AZ 85018

$2,725,000

3 Beds

4 Baths

3,818 SqFt

Status Active

MLS # 6641691

Property Type Single Family Residence

Price Type --

A true gem situated under the iconic Praying Monk! Resort style living in the privately guard gated community of Echo Canyon. This is a very rare and special find! A charming home with a warm open floor plan/ high ceilings and picture windows to take advantage of stunning Camelback Mountain views. There are two bedrooms and a den/bedroom on the main floor. An additional guest suite upstairs which includes its own kitchenette, 3/4 bath and veranda with spectacular views of city lights to the northwest. Centrally located with walking distance to echo canyon trailhead, urban activities like the Village, the new Global Ambassador hotel and a stone's throw to Old Town Scottsdale, PV and Arcadia! Enjoy the amenities of Echo Canyon living with a community clubhouse, pool and tennis!

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10751 E Candlewood Drive Scottsdale, AZ 85255

$2,700,000

3 Beds

3.5 Baths

4,440 SqFt

Status Active

MLS # 6692218

Property Type Single Family Residence

Price Type --

Nestled in the Windy Walk Estates of Troon Village, with Troon Mountain as its backdrop, extensive mountain and city views as well as a private backyard oasis, this expansive custom home is a must see in order to truly appreciate all it has to offer. The large and recently updated primary suite and balcony afford panoramic views while the extra large covered patio and outdoor fire pit create the perfect opportunity to enjoy private outdoor living at its finest. Step into the inviting ambiance of 4440 sq ft of soaring ceilings, authentic French Oak hardwood flooring, two way fireplace, 1000 bottle wine room, two pantries. Updated kitchen with sleek lines, SS appliances/Viking range, large island, breakfast bar and eat in kitchen overlooking the backyard's sparkling heated pool and spa.

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36001 S Moreton Road Wickenburg, AZ 85390

$2,700,000

3 Beds

3 Baths

2,552 SqFt

Status Active

MLS # 6744469

Property Type Single Family Residence

Price Type --

Hidden Hacienda, Wickenburg's Premier Team Roping and RV Camp Destination. Private, quiet, crisp and clean! 22+ Acres, contiguous to state land. Property available turnkey with tools equipment and furnishings. Secluded hilltop 3 bedroom, 3 bath home overlooking the property. 150 x 300 Roping Arena with Sprinkler System. 28 Covered Horse pens. 7 Stall Barn with turn outs and Tack Room. 60' Panel Round Pen. Outside pens approximately 180' x 40'. Covered Hay Storage and Connex Tool Shop. RV Camp and Club House is county approved and permitted in 2016 offering 110, 30 & 50 amp, plug-ins at each pedestal, water and septic. Club House offers an open-air lounge, two commercial washers and dryers, a commercial ice maker, two bathrooms, one with handicap accessible custom tile show Custom Cabinetry and furnishings. Home has an expansive and very private back yard, new roof and fresh interior and exterior paint as well as new tile and carpet. Property available turnkey with tools equipment and furnishings. Acreage available near the home to build additional shop or barn as well. Property Owned and offered for Sale by Arizona Licensed Real Estate Broker. 4 Parcels Available: 201-13-001-B, 201-02-002M, 201-02-002L, 201-06-005-D. Purchase 22 Acres or 12+ Acres THE ADDITIONAL 10 ACRES BORDERS STATE LAND, IS A PREMIUM LOT AND IS ZONED RCU-2A! MUST SEE Please see Turn Key list of Equipment to convey.

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1020 E Caroline Lane Tempe, AZ 85284

$2,700,000

6 Beds

7 Baths

10,613 SqFt

Status Active

MLS # 6707527

Property Type Single Family Residence

Price Type --

Elegant, high craftsmanship estate home with over 10k s/f, 6 bed +office, 6 bath, 3 car garage, new carpet on a 1.382 acre irrigated cul-de-sac lot. Air conditioned Carriage House with 6+ car garage, workshop, gun/storage room, half bath, & large hayloft next to horse pasture. Main home features a gourmet kitchen with 2 dishwashers, double ovens, & newer appliances. Gorgeous custom wood paneling in the office & throughout. Extensive storage incl laundry room with 2 washers & dryers, mud room & very large pantry in the huge basement. Two bright secret rooms add to the charm! Diving pool with newer commercial grade filtration system & poolside half bath. Peach, lemon, grapefruit trees. Large court for sports or riding bikes. 4 of the 5 A/C units are less than 1 yr old.

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35140 N 52nd Place Cave Creek, AZ 85331

$2,700,000

5 Beds

4.5 Baths

4,731 SqFt

Status Active

MLS # 6740350

Property Type Single Family Residence

Price Type --

LOCATION! PRIVACY! MOUNTAIN VIEWS! HORSE PROPERTY W RESORT STYLE LIVING! Amazing custom home in one of the best kept secret CC locations. 2.13 fenced acres offers 4733 sf home w attached Casita w/kitchenette, walk through gated court yard,water feature & fireplace. Open the front door to overlook negative edge heated pool/spa & 360 mountain views, huge covered outdoor living area, built-in BBQ, total of 5 bedrooms/4.5bath, office,gourmet kitchen w granite island,ss appliances, w desk,warming drawer,office ,custom cherry cabinets, Big game-room w wet bar/ billiards rm view of pool. 3 stall-barn w turnouts,tack room/feed arena, pipe fencing & miles of trails out your back door, RV full hook up, trailer parking, large 4 car garage, close to all stores/restaurants but feels remote & secluded Features include: Butlers pantry off the kitchen with huge pantry, warming drawer and appliance center, special, under mount and art lighting through-out, Huge 1200 sq foot covered patio with heated pool and spa, family/billiards room with wet bar, wine cabinet with entry to the patio, folding glass folding into the wall patio glass doors from great room to patio to increase the livable space, cozy office off the primary bedroom, attached guest house has been used for Air B&B and is a premier listing on that sight! Guest house offers bedroom kitchenette, and full laundry facilities, full bath and cozy sitting area with access to the fenced front court yard with a fireplace and water feature. Horse facilities offers 3 stalls with runs, trailer parking with full RV hook up, tack/feed room, turn outs and trails for miles of riding right from you home. Fenced dog run, Huge 4 car garage with pull through and large doors- plenty of room for a tractor, & set up for an Air compressor, and lots of storage. surround sound speakers, View out of all windows of the mountains- quiet neighborhood, with paved streets and city water. Minutes to stores, Home Depot/Lowe's, restaurants, and the fun town of Cave Creek.

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6032 W Victoria Place Chandler, AZ 85226

$2,700,000

6 Beds

5.5 Baths

5,919 SqFt

Status Active

MLS # 6742378

Property Type Single Family Residence

Price Type --

Extraordinary custom home within one of Chandler Arizona most coveted and idyllic gated communities. Trovita's newest built home is located on a desirable north/south exposure lot and nestled within the gated community's private, tree-lined streets, offering a unique opportunity to immediately enjoy all of today's modern styles and finishes within a well-established neighborhood. 2023 and 2024 full remodel of the home the upgrades are stunning with no details overlooked,...... The floor to celling custom retractable accordion doors seamlessly offer indoor and outdoor living to backyard including a custom oasis equipped with a beautiful wood beamed outdoor ramada and kitchen area w/ outdoor seating that offers a Wolf Grill, gas burners, stainless steel sink area, custom stone pizza oven and fireplace. Upgraded heated pool with water features, and custom tiled oversized spa. The large lush grassy yard with citrus trees and palm trees. Fine designer finishes throughout the home , including NEW wood and stone flooring, Crown molding, fully NEW paint throughout including all doors, Lutron automated shades, custom lighting, stone gas fireplaces. 3 of the fully remodeled bathrooms are fully handicapped accessible. One of bedrooms has its own private mini split A/C heater. Other bedroom has also been wired for a mini split. Entertain in the gourmet kitchen w/ an oversized island, stunning granite counters, tile backsplash, custom range hood, stainless appliances & dual convection ovens. The private owners wing provides relaxing amenities such as french doors leading to the resort backyard, a stone gas fireplace and a luxurious ensuite bath outfitted with gorgeous marble finishes, jacuzzi jetted tub, custom chandelier and an oversized marble shower. Even a state of the art Toto toilet. Retreat to the fully functional basement where you will find a large bonus room with wet bar and U-Line beverage fridge, a wine storage area, two of the six bedrooms, a bathroom and a theater room equipped with leather seating, a large screen, projector and a state of the art AV tower. Oversized 3 CG w/ epoxy floors, storage cabinets & a Tesla charging station. Rare palm trees planted in the front yard, ADT alarm is fully installed for added security. Truly a one of a kind custom home in this desirable area of Chandler Arizona.

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9701 E Happy Valley Road Unit 16 Scottsdale, AZ 85255

$2,700,000

3 Beds

4.5 Baths

4,688 SqFt

Status Active

MLS # 6784799

Property Type Single Family Residence

Price Type --

Sought after custom estate in North Scottsdale's gated community, The Peak, is perfectly situated on 4.44 acres of Sonoran desert. Boasting postcard worthy views of mountain peaks, city lights and stunning sunsets from patios in every room. Dramatic details throughout. Unique opportunity on expansive homesite, nestled to the south of Pinnacle Peak and Troon Mountain.

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41777 N 111th Place Scottsdale, AZ 85262

$2,700,000

4 Beds

5 Baths

6,217 SqFt

Status Active

MLS # 6613162

Property Type Single Family Residence

Price Type --

Set among giant boulders outside & inside the home, this contemporary home offers stunning unobstructed 270 degree views of city lights, sunsets, mountains & golf course from every room. Very rare for a home under $4M to sit so far above the homes in front, easily the best views you'll find in this price range. All living areas of main house are on one level with 4 large storage closets in the basement; framed for elevator. Kitchen & bath updates done summer 2023. Kitchen offers Sub-Zero & Miele appliances with views of all common areas of the home and major mountain ranges of the Valley. 3 adjacent lots are protected from having a home built, providing much more open space & enhanced view corridors. Great room has 2 separate TV viewing areas, pool table area, and 9' boulder that dramatically protrudes thru the wall. 4 bedrooms are ensuite and spacious; guest house can function as 2 bedrooms for a total of 5 bedrooms. Guest house is perched above a boulder field and offers even better views, with patio privacy secured by a 9' high granite formation. The main patio is built around magnificent boulders and features built-in BBQ, spa, firepit and views of the entire Valley. Ample room for large negative-edge pool and additional patio space if desired. Oversized 3.5 car garage has abundant storage. Recent upgrades... brand new spa heater, heat pump & water heater in 2023, all interior walls doors & cabinets painted for a more contemporary look, kitchen ceiling raised 2' with taller upper cabinets. Furnishings all available. Comps comment... home next door recently closed for $4.8M with views that are very inferior in width & elevation; at about half that price, this home is priced to sell! Golf & social memberships are available for purchase thru the Club; buyers are not required to purchase any type of membership. Owner agent.

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461 Rockrimmon Circle Prescott, AZ 86303

$2,700,000

4 Beds

6 Baths

6,125 SqFt

Status Active

MLS # 6745528

Property Type Single Family Residence

Price Type --

Luxurious Living!This exquisite home nestled in The Ranch of Prescott designed with meticulous attention to detail.Greeted by a grand entry,flows into an open concept living area perfect for entertaining.Gourmet kitchen is a chefs dream,w/high end appliances,custom cabinetry,large island.Great Room w/expansive windows,offers breathtaking views of the surrounding landscape,creating a serene&peaceful ambiance.Luxurious primary suite is a private retreat,complete with spa-like bathroom&spacious walk-in his&herclosets,sitting room.Additional bedrooms are generously sized,w/en-suite bathroom, ensuring privacy&comfort for guests or family.State of the art home theater,spacious family room,full kitchen,for entertainment&family get togethers,expansive deck, where you can enjoy panoramic views Step outside onto the expansive deck, upstairs and the lower level where you can enjoy panoramic views of the lush, rolling hills and stunning natural beauty. The outdoor space is perfect for hosting gatherings or simply unwinding with a glass of wine as you take in the spectacular sunsets or relax in the hot tub and enjoy the warmth of the firepit. Every detail of this home has been thoughtfully designed to offer the finest in luxury living. Amenities List is available upon request. Don't miss the opportunity to make this your dream home

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10031 N Palisades Boulevard Fountain Hills, AZ 85268

$2,700,000

4 Beds

5.5 Baths

4,604 SqFt

Status Active

MLS # 6727118

Property Type Single Family Residence

Price Type --

New construction! Bring All Offers! Welcome to the All American home, a stunning new construction masterpiece that embodies the beauty of fountain hills in every way. EVERYTHING is top notch, this is for the meticulous buyer that demands perfection. MUST SEE the video tour of this home with IMPORTANT INFO! Walk up and experience Breathtaking curb appeal, designer entryway with tray sky ceiling, climate controlled 3 car garage, and VIEWS!! ALL Main living area is on ONE LEVEL. Custom chef's kitchen, w/ ample cabinetry w/marble counters, herringbone tile backsplash, pendant & recessed lighting, stainless steel dual wall ovens, island complete w/a breakfast bar. Upstairs bonus w/loft, bathroom, extra hidden room and more! The primary bedroom boasts direct outdoor access, a walk-in closet, and a lavish ensuite w/dual sinks & a garden tub. All other bedrooms also showcase their own private baths for added convenience. Don't forget about the sizeable loft w/soft carpet or the cozy den, ideal for an entertainment center and office. Laundry room is equipped w/additional storage cabinets and a utility sink. Finally, the backyard includes a covered patio, extended seating area, a built-in BBQ, and a fire pit! What are you waiting for? Act now!

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8563 E Tumbleweed Drive Scottsdale, AZ 85266

Open House

$2,700,000

3 Beds

3.5 Baths

4,116 SqFt

Status Active

MLS # 6760560

Property Type Single Family Residence

Price Type --

Immaculately stunning Rosewood home in gated Sierra Boulders of North Scottsdale, atop an acre of pristine land nestled within the natural desert surround. This premium homesite is located at the end of the community offering immense privacy while accentuating the homes open and bright design, soaring ceilings, hardwood floors, custom window treatments, impressive gourmet kitchen with opulent granite island coupled with a dine-in tabletop, custom wood cabinetry, craftsman range hood, stainless steel appliances and gas range. The open & elegant formal dining room lends an essential touch to family gatherings, daily living and planned events. A 20' pocketed-sliding-glass-door frames the majestic desert-by-design backyard inviting you to experience the warm sunrises, mountain views, sparkling heated pool & spa, water feature, modern-fire-flame, built-in BBQ, ramada and expansive covered patio. The spa-like primary suite offers a large oversized walk-in shower, soaker tub, his and her custom-closets, dual vanity, makeup vanity, separate water closet and an abundance of beautiful natural daylight. Adjacent you'll find a relaxing and well organized library/den with custom Stone Creek built-in cabinetry, tray ceiling with crown molding and retractable sliding glass wall allowing for a serene and pleasant retreat. Just down the hall you'll find two large ensuite bedrooms with walk-in closets. The powder room is appropriately located off the foyer near the storage and coat closet. The walk-in pantry offers a well organized space with plenty of visible shelving for storing and accessing necessities. You're sure to appreciate the spacious laundry room with custom cabinetry, wash basin and ample storage. The temperature controlled, oversized 3 car garage abuts the expansive paver driveway with additional parking and turn around area. This luxury residence is conveniently located near the Boulders Golf Resort and Spa. The Carefree Town Center is just minutes away, making it an appealing option for those seeking a special property with resort-like amenities, excellent dining and shopping nearby.

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11717 E Estrella Avenue Scottsdale, AZ 85259

$2,699,000

5 Beds

4.5 Baths

4,910 SqFt

Status Active

MLS # 6772481

Property Type Single Family Residence

Price Type --

Top Scottsdale Location! Absolutely gorgeous 6-bedroom 5.5-bathroom home. With an almost 5000 square feet with a separate 850 sf Guest house with its own entrance and garage, this is the one that checks all the boxes for family living at its finest. Garage parking for 7 Cars Kitchen equipped with 6 gas burner stoves, double ovens, and double door Sub Zero fridge. With 3 master suites. The home is situated on an acre lot with a massive yard equipped with seating, dining, pool, spa and entertaining. All the best schools, access to entertainment, Freeway 101 No HOA, so perfect for a turnkey rental (Short or long term).

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