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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11674 W Parkway Lane Avondale, AZ 85323

Open House

$550,000

4 Beds

2 Baths

2,311 SqFt

Status Active

MLS # 6784222

Property Type Single Family Residence

Price Type --

Beautiful 4 bedroom 2 bathroom single level home featuring a climate controlled 4 car garage with a roll up door pass through to the backyard! Garage also has polyaspartic epoxy flooring, built in workbench, and custom storage shelves. Explore inside to an open layout showcasing wood like tile flooring, plantation shutters, and a custom electric fireplace feature. A remarkable gourmet kitchen with all the upgrades including wood shaker cabinets, quartz countertops, stainless steel appliances including a gas stove, and a large walk-in pantry. Unwind in the master suite featuring a shiplap accent wall, private bathroom with dual vanities, extra storage cabinets, large walk-in shower and a huge walk-in closet. Enjoy the outdoors in your low maintenance backyard with paver walkways, artificial turf, and an insulated covered patio.Other features include whole house water softener/RO filtration system, tankless water heater, and spray foam insulation. Pre-plumbed to add a sink in the garage, gas line for a bbq in the backyard as well as an outlet for a jacuzzi/hot tub. Lets make this your dream home! (Amazing 2.875% assumable loan also available for Veterans only)

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287 N Scott Drive Chandler, AZ 85225

Open House

$550,000

4 Beds

3 Baths

2,575 SqFt

Status Active Under Contract

MLS # 6768264

Property Type Single Family Residence

Price Type --

If you are in search of a residence that combines effortless maintenance with an exceptional location, then this property is for you. Nestled conveniently just 3 miles from downtown Gilbert, 3 miles from downtown Chandler, and a mere mile and a half from the 202 freeway, this home offers unparalleled accessibility. Boasting four bedrooms, a loft, and three full bathrooms. Notably, one of the secondary bedrooms is conveniently situated on the first floor, accompanied by a full bathroom for added convenience. This residence has an inviting open floor plan, with soaring 9-foot ceilings, and ample closet space throughout. The kitchen is adorned with stainless steel appliances, granite countertops, and exquisite tile accents that lend a touch of elegance to the space. The primary suite stands out with its generously proportioned room, complete with double sinks, an over sized shower, and an expansive walk-in closet, ensuring a luxurious daily retreat. Moreover, the community offers an array of amenities, including a refreshing pool, picturesque parks, and access to top-tier schools. This residence is truly a gem that should not be overlooked. We invite you to seize this exceptional opportunity and make this house your cherished home.

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24 County Road 3153 -- Vernon, AZ 85940

$549,999

3 Beds

2 Baths

2,160 SqFt

Status Active

MLS # 6760518

Property Type Manufactured Home

Price Type --

Looking for an affordable modern-day Ranch on 5 acres in the White Mountains? Consider this well-maintained ranch-style 3-bed/2-bath, 2,160 sq ft. triple-wide manufactured home on 5 acres fully fenced, covered with 100+ Juniper/Pine trees set off with a Ranch-Style entrance, only minutes from the National Forest, accessible on well-maintained roads, making it the ideal horse/prepper property with no HOA's, just 25 minutes from Show Low. Property features include: an oversized Steel/Hanger building 30' X 60' with partial living quarters inside, a fully enclosed two-story barn structure 21' X 33' for RV storage, two storage sheds, and two full-size carports—major landscaping with fenced-in areas, separate enclosed/covered dog area w/direct access from the home, large garden area, large steel fire pit area, and a roundabout driveway. That's just the beginning. This home features a covered front deck, a recently replaced roof, an open kitchen floor plan featuring a center island with new countertops/appliances/workstation sink, a large separate dining area, Great Room style living room with a pellet stove for efficient heating, a split-bedroom master suite that includes an oversized closet with two-doors allowing access from the bath or bedroom, Dual-pane windows, vaulted ceilings, a full-size utility room, forced Heating and Air Conditioning (new), a large back storage area, and an abundance of cabinets providing plenty of storage space. Also included is the Starlink hardware for fast Internet.

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7725 E Hazelwood Street Scottsdale, AZ 85251

$549,999

2 Beds

2 Baths

1,508 SqFt

Status Active Under Contract

MLS # 6772268

Property Type Townhouse

Price Type --

Welcome to 7725 E. Hazelwood St., a beautifully renovated 2 bedroom 2 bathroom plus den/office townhome located in the highly desirable Old Town Scottsdale area. With its modern upgrades, spacious layout, and prime location, this home offers the perfect blend of style, comfort, and convenience. This exquisite property features a functional floor plan with modern finishes, perfect for both everyday living and entertaining. The chef's kitchen is a highlight, boasting sleek quartz countertops, bar seating area, gorgeous flooring, and ample storage. It's the perfect setup for cooking gourmet meals or hosting gatherings. Step outside to your own backyard oasis, featuring a covered patio. mature pink grapefruit and Valencia orange tress, and plenty of room for outdoor dining and relaxation. The low-maintenance yard is ideal for enjoying the Arizona sunshine year-round. Nestled in the heart of Old Town Scottsdale, this home is within walking distance not only to the community pool, but also world-class dining, shopping, entertainment, and cultural attractions. Enjoy the vibrant local lifestyle and easy access to everything Scottsdale has to offer. Rate Relief Rebate Program: Benefit from a 2% seller credit to reduce your mortgage payments by Approximately $551/month in year 1 and $282/month in year 2. This exclusive offer makes homeownership more affordable now, while you await potential rate decreases. Buyers currently living in Maricopa or Pinal County ask about an ADDITIONAL $7,000 home buyer credit available via the Community Promise Program.

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14686 S Country Club Way Arizona City, AZ 85123

$549,999

3 Beds

2 Baths

2,027 SqFt

Status Active

MLS # 6763659

Property Type Single Family Residence

Price Type --

It is hard to list all the improvements made by the present owners in the last 7 years, but you can experience same luxurious living in this stunning, recently painted in and out 3 bedroom, 2 bathroom home with breathtaking curb appeal. While taking in the mountains in the distance, you will make your way (admiring palms, saguaros, flowering bushes, and cacti) to the hand-made gate, and the newly installed paved patio leading you to the main entrance. You will see the old fashioned speak-easy door and find yourself inside your new home with same, tiled floor throughout. Gourmet kitchen is featuring new granite island, counter, and one piece backsplash (same granite in both bathrooms, and outdoor kitchen,) upgraded cabinets (with extra row and antique glass,) all SS appliances with new stove, pull out cabinet shelves. The split floor plan includes upscale main suite, lavish master bathroom where everything was rebuilt: the shower (moving the wall and liquidating the garden tub,) the double sinks, the hardware. There is a professional wardrobe, too. A luminating bay window in the bedroom has a new glass, like all the windows in the house. The inside also has two guest bedrooms, a wash room, and an extra room which can serve as a library, office, dining room, or 4th bedroom (adding the closet.) There is also a huge living room that the owners divide into living and dining area. A family room is by the kitchen. Next, you will step outside to your resort-style backyard with a sparkling pool and spa, oversized yard, all rocked, with an RV gate, and three sheds. His and Her sheds are insulated, electrified, sheet-rocked, and tiled. The third one serves as storage. All are secured to the cement pads. There are also citrus trees producing grapefruits, oranges and lemons. This custom home has a lot of amazing features including TRIPLE pane windows (Symington,) PLANTATION shutters on all of them, CROWN MOLDING with hand made corbels throughout the house. The house sits on the #16th hole on the GOLF course, and has a block fence for added privacy. No HOA, this elegant, and very practical property is a dream come true.

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12078 W Dos Rios Drive Sun City, AZ 85373

$549,999

5 Beds

3 Baths

3,111 SqFt

Status Active Under Contract

MLS # 6768037

Property Type Single Family Residence

Price Type --

*VA ASSUMABLE LOAN!* // This spacious 5-bedroom, 3-bath, two-story home is located in a highly sought-after community with no age restriction! Offering an impressive 3,111 sq/ft of living space, the open floor plan features tall ceilings and large windows that flood the family room with natural light. The kitchen boasts of granite countertops, a center island, and beautiful maple cabinets, plus both formal and eat-in dining options + a breakfast bar. Upstairs, the master bedroom offers a full bath for comfort and privacy. In the backyard, step out to a covered patio overlooking a low-maintenance yard with lush grass. Additionally, a versatile bonus room downstairs could easily be transformed into a fifth bedroom!

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2023 W Rancho Drive Phoenix, AZ 85015

$549,999

5 Beds

4 Baths

2,717 SqFt

Status Active

MLS # 6766472

Property Type Single Family Residence

Price Type --

Central Phoenix home with a lot of character in a prime location that is walking distance to the Valley Metro Rail Station and the Spectrum Mall while being minutes away from I-17! This house includes a 500 sq ft guest house that has a separate entrance with full bathroom, huge living area, kitchen cabinets with separate heating and cooling unit. The guest house would be a great Airbnb, VRBO, or an in-law suite! If you have a green thumb, this house is for YOU, it offers lots of tree and vegetation: 2 mature orange trees, pomegranate, peach, tangerine, blood orange, 5 grapevines, artichoke, and rosemary. The house has a sustainable front and backyard with a distinctive water fountain and a wood crafted entry door. The main house features hand-carved Cantera stone, slate flooring, double-sided fireplace and 3 skylights throughout the house. Chef's kitchen boasts granite countertops, huge breakfast bar for additional seating, and stainless steel appliances. Walk-in closet, steam shower, jacuzzi tub and double vanity sink makes for a great master suite! All bathrooms have stone tile work from floor to ceiling with inset mirrors. The backyard of the home is very unique and features a fountain, fully mature orange tree, raised concrete trellis area, and outdoor fire-pit! Extended driveway, RV GATE, and a GARAGE! NO HOA! HURRY, this one won't last long!

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1292 N Bogle Avenue Chandler, AZ 85225

New

$549,999

3 Beds

2 Baths

1,675 SqFt

Status Active

MLS # 6788220

Property Type Single Family Residence

Price Type --

New Flooring throughout, New Paint througout, New Appliances including washer and dryer! Pool is being resurfaced! New mini-blinds! Updated kitchen with soft-pulls and Quartz counter tops, New vanity in second bath! Open floor plan with HUGE living/dining area. Separate office. Large main bedroom with walk-in closet and separate tub and shower. Large secondary bedrooms and nice laundry room. Extended covered patio overlooks the sparkling pool, palm trees and grassy area. Just Perfect and MOVE-IN Ready! Down the street from neighborhood parks, kid's playground, basketball courts, baseball fields, Skateboard park, splash pad and picnic area, Great convenient Chandler area.

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12401 N 79th Avenue Peoria, AZ 85381

New

$549,999

4 Beds

2 Baths

2,172 SqFt

Status Active

MLS # 6787064

Property Type Single Family Residence

Price Type --

Step into this stunningly renovated home, where modern upgrades meet timeless charm. Fully remodeled in 2022, this property boasts new flooring, upgraded kitchen with sleek quartz countertops, and refreshed bathrooms. The ranch-style exterior welcomes you into an interior featuring a wet bar, a dedicated dining room, formal living space, vaulted ceilings, and a cozy fireplace. The main bedroom provides private backyard access, leading to a sparkling pool and ample outdoor space—ideal for hosting gatherings or enjoying sunsets. This home is just a 15-minute drive to Westgate Entertainment District, State Farm Stadium, and Arrowhead Mall. Close to grocery stores, dining options, and additional shopping centers, this home offers both luxury and accessibility. This home won't last long.

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2938 S 184th Lane Goodyear, AZ 85338

$549,999

5 Beds

3 Baths

2,380 SqFt

Status Active

MLS # 6765471

Property Type Single Family Residence

Price Type --

This spacious ranch-style home sits on a generous sized lot and offers 2,380 sq/ft of living space. Designed with comfort in mind, it features two split master bedrooms - perfect for added privacy. The great room boasts an inviting atmosphere with 10' ceilings and a beautifully appointed kitchen that features quartz countertops, a large island, and a walk-in pantry. Outside, the low-maintenance backyard is shaded by mature trees and has lush turf, ideal for relaxing or entertaining. With a 3-car garage, RV gate, and RV parking, this home is perfect for those who need extra space while enjoying a peaceful setting. Additional upgrades include Low-E dual-pane windows with sunscreens and a Smart WiFi thermostat for energy efficiency!

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1514 E Diamond Street Phoenix, AZ 85006

$549,999

4 Beds

3 Baths

1,766 SqFt

Status Active

MLS # 6730147

Property Type Single Family Residence

Price Type --

Check out this CHARMING, VINTAGE, ADOBE, home located in the exciting North Garfield HISTORIC DISTRICT! Thanks to a large ensuite and ARIZONA ROOM addition this home is quite LARGE compared to neighboring homes (1,776 SF). Additionally this home features a fully detached casita/GUEST HOUSE with kitchenette, bathroom, and it's own HVAC unit, making it perfect to use for your favorite in-laws or to supplement the mortgage with a tenant... Step inside the main house and you will find tasteful upgrades that perfectly accentuate all of the historic charm that this home has to offer. ORIGINAL DETAILS INCLUDE; coved ceilings, wooden front door w/ hardware, mail slot, milk door, and hutch. And to top this all off, the home comes with OWNED SOLAR! AVG. electricity bill is $65/Mo!

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2720 E Fremont Road Phoenix, AZ 85042

$549,999

5 Beds

3 Baths

2,548 SqFt

Status Active

MLS # 6756704

Property Type Single Family Residence

Price Type --

Located within the prestigious gated golf course community of Fairways at The Legacy, this home greets you with a charming gated courtyard entry. Inside, you'll find 5 spacious bedrooms, 4 of which are upstairs, along with a guest bedroom, a full bath, and a laundry room conveniently located on the main floor. The primary suite offers a sitting area, stunning views of South Mountain, and a large walk-in closet. Positioned on a desirable north/south lot, the backyard is perfect for gatherings, featuring a covered patio, a putting green, and an awning that reduces direct sunlight, creating a more comfortable outdoor space. Just a short 10-minute drive from downtown Phoenix, this home is ideally suited for growing and active families.

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