58% of Homeowners See a Drop in Home Values Coming

58% of Homeowners See a Drop in Home Values Coming | Simplifying The Market

According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

The two major causes of the housing crash were:

  1. A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
  2. Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.

Today, housing inventory is at a 20-year low with new construction starts well below historic norms and financing a home is anything but simple in the current mortgage environment. The elements that precipitated the housing crash a decade ago do not exist in today’s real estate market.

The current increase in home prices is the result of a standard economic equation: when demand is high and supply is low, prices rise.

If you are one of the 58% of homeowners who are concerned about home values depreciating over the next two years and are hesitant to move up to the home of your dreams, take comfort in the latest Home Price Expectation Survey.

Once a quarter, a nationwide panel of over one hundred economists, real estate experts and investment & market strategists are surveyed and asked to project home values over the next five years. The experts predicted that houses would continue to appreciate through the balance of this year and in 2018, 2019, 2020 and 2021. They do expect lower levels of appreciation during these years than we have experienced over the last five years but do not call for a decrease in values (depreciation) in any of the years mentioned.

Bottom Line

If you currently own a home and are thinking of moving-up to the home your family dreams about, don’t let the fear of another housing bubble get in the way as this housing market in no way resembles the market of a decade ago.

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6659 E Indian Bend Road Paradise Valley, AZ 85253

$18,974,888
8 Beds
16 Baths
26,393 SqFt
Status Active
MLS # 5725463
Property Type Single Family - Detached
Experience this brand new, meticulously designed custom estate, located in the safety & privacy of an exclusive guard-gated community. Enjoy a large acreage estate feel, with low maintenance, energy-efficient, inexpensive upkeep. This 8 bed, 16 bath unique layout offers large living on a smaller footprint with refined elegance & unparalleled construction quality by utilizing concrete and steel. This is a unique opportunity to select your own finishes. A magnificent piece of design & classical architecture offering an abundance of amenities: 20-car collector's garage, 2 separate guest houses, dining room surrounded by water, indoor & outdoor pools, swim up bar, multipurpose shooting range, bank vault, salon, wine tasting room & cellar, home theater, indoor/outdoor living areas & more!

Paradise Valley AZ 85253

$18,950,000
8 Beds
11 Baths
30,858 SqFt
Status Active
MLS # 5720721
Property Type Single Family - Detached
Privately gated estate in the heart of Paradise Valley with breathtaking views of Camelback Mountain,the McDowell Mountains, and Four Peaks Range surround this amazing property. Experience exquisitefinishes and rare amenities from exclusive interior designer David Scott and Frank Lloyd Wright trainedexterior architect Vernon Swaback; such as the tranquil Water Room's rounded glass walls andsurrounding exterior water features. Other unique highlights of the main home include an executivehome office, trainer's gym, basketball court with electronic score board, twelve seat grand theater andwine cellar.

5335 N Invergordon Road Paradise Valley, AZ 85253

$16,950,000
6 Beds
13 Baths
25,851 SqFt
Status Active
MLS # 5676395
Property Type Single Family - Detached
Simple words cannot describe an estate of this stature. The polished elegance and imposing beauty are what movies are made of, and it's easy to imagine many a movie being filmed in this magnificent showpiece. The rooms are so luxurious and so unique, it's impossible to convey the grandeur without seemingly exaggerating, and to say that this mansion is constructed with quality materials is a massive understatement, as it has been built with commercial standards and engineering that are rarely, if ever, seen in residential construction. If that doesn't get your attention, the 25-person elevator sure will, serving as a focal point so spectacular that it will take your breath away. Impeccable custom design adorns every inch of this palatial residence, including a full home theatre, lavish two

8055 N Mummy Mountain Road Paradise Valley, AZ 85253

$16,500,000
7 Beds
12 Baths
25,416 SqFt
Status Active
MLS # 5165200
Property Type Single Family - Detached
Lush, mature landscaping, hand-laid stone walls, and artistic wrought iron accents line the guest drive of this impressive 5-acre Mediterranean estate. Architecturally designed by Erik Peterson and custom built by Desert Star Construction, this magnificent estate boasts 7 bedrooms, 12 bathrooms, a detached 2-bedroom guesthouse, a free-standing 1,800 square foot fitness facility, a tennis court and more than 25,000 square feet of incomparable Arizona living. Showcasing the very best in home entertainment, this grand estate's lower level is comprised of a private theater with tiered seating, ultra modern music room with pro lighting package, a recording studio and a custom-designed instrument showroom.

New River AZ 85087

$16,000,000
4 Beds
2 Baths
19,161 SqFt
Status Active
MLS # 5584412
Property Type Single Family - Detached
AMAZING OPPORTUNITY TO OWN 32 ACRES TOTAL NORTH OF ANTHEM OUTLETS. BORDERS I17 FRONTAGE ROAD. C3 Zoning. Fantastic location. Please DO NOT bother anyone on property. Recent appraisal meets value. Willing to sell 8 Acres South of Nursery separately. Seller will finance! Thank you.

19920 W Verde Hills Drive Wickenburg, AZ 85390

$14,900,000
3 Beds
3.5 Baths
5,365 SqFt
Status Active
MLS # 5685013
Property Type Single Family - Detached
Powell Ranch sits on a plateau providing 360 views, with 538 deeded acres and grazing leases from the state on over 2,200 contiguous acres (all fenced). Designed by architect Bill Otwell, the 5,365 SF Santa Fe style main house with 3BR/3.5BA, office and media room is constructed of 18 thick adobe walls covered with cement plaster. 9'+ ceilings are unique - stripped Aspen poles above giant pine beams, 4 fireplaces, 3 fountains & lush landscaping. 1,066 SF guesthouse is 2BR/1BA; 2,200 SF detached garage/workshop fits 3 cars, RV, storage and 1/2 BA. Equestrian facilities include a large arena, 4 outdoor stalls/corrals w/auto water (3 shaded), covered hay storage, tack room, horse wash, and 60' round breaking pen. See Documents section for details.

7004 N Invergordon Road Paradise Valley, AZ 85253

$13,950,000
6 Beds
10 Baths
15,000 SqFt
Status Active
MLS # 5716629
Property Type Single Family - Detached
This sprawling, private appx 5 acre mountainside estate boasts 15,000+ square feet & offers 6 bdrm suites, 10 baths & includes almost every imaginable detail to class & quality one could dream of. Exquisitely appointed with custom light fixtures; beautiful flooring throughout; stone carved Italian marble columns; incredible chef's kitchen; butler pantry; game room; wine tasting room & storage room for 1400+ bottles; custom office; sound proof 12 seat home theater; private gym; oversized pool w/see through viewing area from lower level family/game room; fire pots; a beautiful mountainside waterfall & a separate guest/housekeeper/chef quarters.This estate features incredible indoor/outdoor entertaining with absolutely amazing southern views & some of the best sunrise and sunsets in all of AZ

5837 N Palo Cristi Road Paradise Valley, AZ 85253

$13,400,000
8 Beds
9 Baths
14,458 SqFt
Status Active
MLS # 5780430
Property Type Single Family - Detached
This masterfully designed and privately gated palatial estate is situated on roughly 5 acres of manicured grounds in PV and offers breathtaking views of the world famous Camelback Mountain's Praying Monk and Piestewa Peak. This majestic one-owner estate underwent a multiple year construction process because of its unrivaled attention to architectural details and handpicked finishes that were inspired from the Versailles in France. From its romanesque water fountains, imported grand staircase, marble fireplace surrounds, polished marble floors, hand carved limestone columns, hand-woven silk wallpapers, coffered ceiling, to gold fixtures and custom cabinetry throughout. click for more supplemental info.

9625 E Aw Tillinghast Road Scottsdale, AZ 85262

$12,500,000
6 Beds
8 Baths
11,250 SqFt
Status Active
MLS # 5689418
Property Type Single Family - Detached
Timeless contemporary estate that was inspired with an unlimited budget, a blank canvas for architectural creativity and a one-of-a-kind site with views of the entire southern horizon. A visionary and profound architectural statement with intersecting radial and linear forms built to commercial construction standards. The pioneering roof design features 'folded plates' of copper that perfectly blend the home into the natural desert surroundings. Interior details include Hope Steel doors, limestone flooring, dry-stacked sandstone fireplace surrounds and custom copper details and trim around every window, doorway and wall. The site provides 270 degree, top-of-the-world sunset, city light and mountain views from 16 hilltop acres at the apex of Lone Mountain in Scottsdale's Desert Mountain.

20724 N 112th Street Scottsdale, AZ 85255

$10,500,000
5 Beds
5.5 Baths
12,132 SqFt
Status Active
MLS # 5749929
Property Type Single Family - Detached
This exquisite Modern Mediterranean home sits proudly in the Upper Canyon of Silverleaf and is uniquely designed to capture endless city views and surrounding mountains. Architect Dale Gardon and American First Builders is creating one of the most spectacular homes built in Silverleaf. Amenities include 5-6 beds, 7 car garage, estate pool/spa, outdoor cabana, interior basketball/sport court, indoor/outdoor kitchens, theater, family entertainment rooms, multiple sliding door systems, large master suite and separate guest house. The hardwoods, stone, and finishes compliment the warm modern interior and exterior. Uniquely designed with timeless architecture, this home has been tailored to compliment a lifestyle that demands security, quality, value and comfort. Completion date Spring 2019.

7425 N Ironwood Drive Paradise Valley, AZ 85253

$10,490,000
6 Beds
10 Baths
12,263 SqFt
Status Active
MLS # 5683246
Property Type Single Family - Detached
Renowned architect Brent Kendle brings a new level of contemporary artistry to this thoughtfully redesigned Paradise Valley Estate.  Capturing a timeless-understated elegance with the idea that the design was not created for the trend of the moment but rather for generations to enjoy.  Simply stated, the home is tasteful without being boastful.  This 12,000+square foot contemporary desert jewel resides near the base of Mummy Mountain on more than 2 acres, maximizing stunning mountain views, abundant natural light and the opportunity to showcase an extensive art collection.  Each space is defined by incredible architectural installations and includes a main house with 4 bedrooms, 4 bathrooms and 3 powder rooms, a 250 plus bottle wine room, the

9364 E Skyline Trail Gold Canyon, AZ 85118

$9,995,000
10 Beds
14 Baths
22,740 SqFt
Status Active
MLS # 5564406
Property Type Single Family - Detached
One of the most spectacular homes in the entire valley. Featured on FOX 10 Cool House Segment. Located in the 24 hour private guard gated community of Superstition Mountain Golf and Country Club. This beautiful estate is set on two home sites and located on the highest hillside point in the community with 360 degree views for miles of the city lights, sunsets, entire Superstition Mountain Range, surrounding mountains, and lush meandering golf course fairways. This spacious and luxurious estate is comprised of over 22,000 livable SF which include a separate 2000SF guest house; Expertly designed with luxurious custom finishes and attention to detail through out. Spacious great room with electronic disappearing walls of glass which allow for seamless indoor and outdoor resort style living;

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