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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7436 E Continental Mountain Drive Cave Creek, AZ 85331

$11,000,000
5 Beds
6 Baths
7,934 SqFt
Status Active
MLS # 6652945
Property Type Single Family Residence
Price Type --
The Mustang residence is nestled on 4.7 acres with breathtaking 360-degree mountain views. Facing southwest, this residence perfectly captures the tranquil surroundings, offering a seamless blend of indoor-outdoor living on a single-level split floorplan. The warm and organic material palette, features stone, wood, steel, and glass. The heart of the home unfolds as you step inside, revealing an open living, kitchen, and dining space. This central hub is designed for both relaxation and entertainment, with the flexibility to open the floor-to-ceiling pocket doors during the season. The outdoors is an entertainer's dream, boasting an infinity pool that seemingly merges with the horizon, set against a backdrop of majestic mountains. Descend from the deck to enjoy an outdoor lounge centered around a fire pit creating the ideal setting for relaxed social gatherings. The rooftop, immersed in the saguaro forest, invites you to experience everyday magic during the golden hour or revel in solitude under the stars. In this home, every detail has been meticulously crafted to provide a sophisticated and harmonious living experience. Welcome to Continental Mountain Estates, where modern luxury meets the Old West.

8015 N 74th Place Scottsdale, AZ 85258

$10,995,280
5 Beds
6 Baths
7,915 SqFt
Status Active
MLS # 6693105
Property Type Single Family Residence
Price Type --
Seller willing to consider a seller carry at a 5.50% interest rate with 30% down and a 2 year balloon payment. Nestled in the prestigious Paradise Valley Farms community of Scottsdale, this magnificent 7,915 square-foot modern masterpiece sitting on over an acre of land redefines luxury living in the heart of the Arizona desert. This new construction home built by TINKER Development and designed by Holly Wright Design, features 7,110 sq/ft in the main house and 805 in the fully detached guest house, and showcases architectural brilliance with its sleek lines, expansive windows, standing seam metal roof and cutting-edge design. From the rift oak cabinetry, to the European white oak flooring, to the 60+ slabs, and the recessed baseboards, every detail was thought of and no corner was cut making this home the epitome of modern opulence and sophistication. Upon entering, you'll be greeted by a soaring foyer that leads to an open-concept living space with 24' ceilings in the great room. The expansive layout seamlessly connects the living room, dining area, and gourmet kitchen, creating an ideal environment for both intimate family gatherings and grand-scale entertaining. The chef's dream kitchen with fully appointed back kitchen boasts all Wolf and Sub Zero appliances with a 60 dual over range, Steam Oven, 3 dishwashers, both rocks and sonic ice makers, in wall water filler, Miele Coffee Maker, 36 fridge and 36 freezer in main kitchen and Sub Zero fridge with glass front in the back kitchen. The master suite is a private sanctuary, featuring a spa-like bathroom, his and hers fully appointed closets, and a 20' wall of automated retractable glass from the master shower that leads out to a private retreat with water feature. Three additional en-suite bedrooms in the main home and one in detached guest house offer luxurious accommodations for family and guests. Host movie nights in the state-of-the-art theater, wine enthusiasts will delight in the climate-controlled wine cellar, and fitness enthusiasts will appreciate the private gym. Step outside to an outdoor oasis and relax with the resort-style back yard featuring a 40'x40' zero edge pool and private spa, along with multiple covered patios with heaters and integrated misting systems, an indoor/outdoor bar area, as well as an outdoor kitchen/dining area with built in BBQ and Smoker, perfect for al fresco dining. Lush landscaping and breathtaking mountain views complete the serene ambiance. Control your home with ease using the latest in CRESTRON smart home technology. The system controls the AV, security and climate systems, shades, all lighting, mister systems, pool equipment, garage doors, driveway gate and the fireplaces. With a gated entrance, advanced security system, and meticulous landscaping, this property offers unparalleled privacy and peace of mind. Paradise Valley Farms is renowned for its exclusivity and tranquility. Enjoy proximity to upscale dining, shopping, championship golf courses, and scenic hiking trails. Top-rated schools are also nearby. This 7,915 sq/ft modern masterpiece is a rare opportunity to own a brand-new furnished luxury residence in one of Scottsdale's most coveted communities. Immerse yourself in the epitome of desert living, where sophistication meets serenity. Arrange a private tour today and make this extraordinary property your desert oasis.

20948 N 104th Way Scottsdale, AZ 85255

$10,995,000
5 Beds
9 Baths
8,300 SqFt
Status Active
MLS # 6655110
Property Type Single Family Residence
Price Type --
This Posh contemporary home is designed by renowned architect Mark Tate and to be built by Sonora West Development on one the finest remaining lots in Silverleaf. Located in the lower end of the Upper Canyon with rare South facing views of City Lights, nearby and distant mountain ranges and Silverleaf golf course. This home includes 5 bedrooms, office, 6 full and 3 half baths and a 4 car garage. (There is room for a separate guest house and 2 additional garage spaces at additional cost.) The swank Great room, kitchen and Primary suite overlook the stunning city light and mountain views. One of the best values in Silverleaf for a new build home.

6480 E El Maro Circle Paradise Valley, AZ 85253

$10,950,000
6 Beds
10 Baths
11,499 SqFt
Status Active
MLS # 6693041
Property Type Single Family Residence
Price Type --
Nestled within the secure confines of El Maro's gated community stands a stunningly refurbished estate. As you step inside, you're greeted by panoramic mountain vistas and expansive interiors filled with natural light. An inviting billiards room adjoins the family area and kitchen, ideal for gatherings of all sizes. The formal dining and living spaces offer captivating views of the glistening pool, lush landscaping, sprawling golf course, and mountains beyond. This exquisite home boasts a wine cellar, an exercise enclave, a theater for cinematic indulgence, and a den/retreat with built-in bookshelves and desks. The main house comprises four en-suite bedrooms alongside a sumptuous master suite, replete with balconies, a cozy fireplace, a spa-inspired bathroom, and a lavish closet.... ...Just steps away, a wood-paneled office with awe-inspiring vistas awaits. Additionally, an attached guest casita provides a private haven complete with its own entrance, kitchen, laundry facilities, fireplace, and a separate bedroom with a full bath. The property features a lighted tennis court (or two pickleball courts), a four-car garage, and an elevator, among other refined upgrades, further enhancing the timeless allure of this breathtaking estate.

41521 N 75th Place Cave Creek, AZ 85331

$10,500,000
4 Beds
5 Baths
7,250 SqFt
Status Active
MLS # 6652910
Property Type Single Family Residence
Price Type --
The Six Shooter residence seamlessly floats in harmony with the natural landscape through carefully selected rustic materials, such as rubble stone, concrete and raw steel. Perched high on the gentle hillside, this home offers panoramic views and ultimate privacy amidst ancient saguaros. The lower 7-car show garage not only serves as a focal point, but elevates the home even higher, transcending the hillside for commanding views. The great room is an open-concept space that seamlessly connects the front terraces with mountain vistas unfolding before you. The private primary suite, strategically hovering above the desert, offers utmost seclusion and astonishing views. The guest wing and lounge open up to the pool and terrace area, creating an oasis for relaxation and social gatherings. A private detached casita is accessed by a small bridge hovering the desert floor, ensuring an enchanting guest experience. In this home, every detail has been meticulously crafted to provide a sophisticated and harmonious living experience. Welcome to Continental Mountain Estates, where modern luxury meets the Old West.

4420 E Clearwater Parkway Paradise Valley, AZ 85253

$10,500,000
5 Beds
6 Baths
8,800 SqFt
Status Active
MLS # 6647471
Property Type Single Family Residence
Price Type --
PLANS ARE COMPLETE AND PERMITTED...READY TO START BUILDING NOW!! Modern gem in gated Clearwater Hills on a NON HILLSIDE 1.32 acre lot with spectacular views of Camelback Mountain. Enjoy amazing indoor and outdoor living. Award winning architect Kendle Design, interior designer Dwelling Design and landscape architect Greey Pickett culminated in a masterpiece. Fall in love with the spectacular walls of glass framing the Sonoran desert. Choose your own finishes to your exacting needs or have the home completed with the extraordinary fit and finish completed by the expert design team... all the hard work is done!!! Also available for sale as a lot with permitted plans - MLS # 6647428

11199 E Saguaro Canyon Trail Scottsdale, AZ 85255

$10,500,000
4 Beds
6 Baths
7,794 SqFt
Status Active
MLS # 6668604
Property Type Single Family Residence
Price Type --
WELCOME TO SCOTTSDALE'S MOST EXCLUSIVE GUARD GATED COMMUNITY OF SILVERLEAF! THIS EXQUISITE CUSTOM ESTATE IS SITUATED HILLSIDE IN SILVERLEAF'S UPPER CANYON ON A PRIVATE LOT BACKING UP TO THE MCDOWELL SONORAN PRESERVE BOASTING PANORAMIC CITY LIGHT & MOUNTAIN VIEWS FROM EVERY ROOM IN THE HOME. ENTER YOUR NEW HOME VIA A TREE LINED GATED DRIVEWAY INTO THE EXPANSIVE MOTOR COURT AND ENJOY THE FABULOUS ARIZONA SUNSETS FROM ONE OF THE MANY FINELY MANICURED GARDENS OR SITTING AREAS APPOINTED WITH DELECTABLE SCENTED ROSE BUSHES, FOUNTAINS & FIRE PITS. STEP INTO A WORLD OF GRANDEUR WITH DETAILED SOARING CEILINGS AND AN ABUNDANCE OF NATURAL LIGHT. THIS MAGNIFICENT LIGHT & BRIGHT OPEN FLOOR PLAN BOASTS 7,794 SQUARE FEET. THIS SINGLE-STORY ESTATE EPITOMIZES LUXURY LIVING AT ITS FINEST. DESIGNED WITH AN EYE FOR ELEGANCE AND A TOUCH OF TIMELESS SOPHISTICATION, THIS PROPERTY STANDS AS A MASTERPIECE OF ARCHITECTURAL OPULENCE AND REFINED TASTE. FEATURING 4 EN-SUITE BEDROOMS, 6 BATHROOMS, FORMAL LIVING & DINING, HIS & HER OFFICES, BONUS ROOM WITH WET BAR, EXERCISE ROOM, A QUAINT LIBRARY WITH TIMELESS WOOD FLOORS, RICH WOOD BUILT-IN BOOKSHELVES A COZY FIREPLACE AND A 4 CAR AIR-CONDITIONED GARAGE EQUIPPED WITH CAR LIFTS EXPANDING THE CAPACITY TO 6 CARS, NEW GARAGE DOORS, EXPOXY FLOORING AND A PRIVATELY SECURED MAN-CAVE. THE INTERIOR IS APPOINTED WITH THE FINEST OF FINISHES FROM ITS CANTERA STONE PILLARS & FIREPLACE SURROUNDS TO THE HAND CARVED WOOD CABINETRY. THE GOURMET CHEF'S KITCHEN IS A CULINARY HAVEN WITH STATE-OF-THE-ART APPLIANCES, 2 DISHWASHERS, WARMING DRAWER, QUARTZ COUNTERTOPS, MIELE COFFEE MAKER AND A GENEROUS ISLAND CREATING THE PERFECT SETTING FOR INTIMATE DINNERS OR GRAND GATHERINGS. THE WALK-IN PANTRY IS DESIGNED TO STORE ALL YOUR FOOD ITEMS AS WELL AS DISHES AND FINE CHINA. IMPRESS YOUR GUESTS WITH THE ELEGANT SPACIOUS FORMAL DINING ROOM WHERE THEY WILL ENJOY MOUNTAIN & CITY LIGHT VIEWS THAT WILL CERTAINLY ENHANCE THEIR DINING EXPERIENCE! THE LENGTHY ART GALLERY HALLWAYS ARE PERFECT FOR DISPLAYING YOUR MOST FAVORED ART PIECES. THE MASTER RETREAT IS ANY OWNER'S DREAM WITH A COZY FIREPLACE, HIS/HERS WALK-IN CLOSETS W/LAUNDRY, AND A PRIVATE WORK-OUT OR YOGA ROOM. THE MASTER BATH RIVALS ANY 5 STAR RESORT WITH HIS & HER WATER CLOSETS, STEAM SHOWER & LARGE SOAKING JACUZZI TUB WITH SERENE CITY LIGHT VIEWS. LIVE OUTDOORS IN THIS RESORT STYLE BACKYARD WHERE YOU CAN IMMERSE YOURSELF IN THE TRANQUILITY OF THE PRISTINE & LUSHLY LANDSCAPED GARDENS, MULTIPLE FIRE FEATURES, PUTTING GREEN, INVITING HEATED POOL & SPA WITH A GROTTO WATERFALL, RAMADA WITH ANOTHER FIREPLACE & OUTDOOR KITCHEN AND THE MOST AMAZING SUNSETS! THIS RARE OPPORTUNITY IS A MUST SEE AND IS IDEALLY LOCATED TO SHOPPING, DINING AND THE 101 FREEWAY.

9743 E Madera Drive Scottsdale, AZ 85262

$10,490,000
7 Beds
8.5 Baths
11,625 SqFt
Status Active
MLS # 6633371
Property Type Single Family Residence
Price Type --
Masterfully positioned overlooking the 9th hole of the Geronimo Golf Course in the Village of Lone Mountain sits an incredible Lee Hutchinson creation. The main house contains 9,065 sq ft along with a separate casita of 2,540 sq ft, all on 2.25 private acres & 3 lots that afford wonderful golf course views along with exceptional sunrise & sunset vitas! Boasting a total of 7 bedrooms and 8.5 bathrooms this property can serve as a private family compound or a perfect home for entertaining large groups of friends. A full golf membership is available with Membership approval. The primary suite is on the second floor and has breathtaking views of the golf course and beyond (There is an elevator in place for upstairs access) A custom designed office is nearby and both locations offer wonderful outdoor balcony space with views! 4 additional ensuite bedrooms can be found on the opposite side of the main property; two are found in a guest suite area complete with a small kitchen and living room area; and two others share a living area w/ built in desk space. Most have doors that lead to outdoor patio areas. The main living area has a wet bar complete with mini refrigerator, ice maker and dishwasher. The 1,200 bottle wine room is conveniently located nearby. The formal dining area contains magnificent sculptured ceiling detail & a built in serving space. The gourmet kitchen has a large island, and an 8 burner Thermador gas cook top, two dishwashers, and a warming drawer. A charming dining area that is right off the kitchen leads to a spacious family room with outdoor patio views on to the golf course. The guest casita has two ensuite bedrooms and a powder room, a great room and full kitchen, laundry facilities and a 3 car garage. (There are 3 powder rooms in total; 2 in the main house and one in the casita.) The entire property is inspired by our natural desert color palette & is filled with rich finishes, furniture grade cabinets, extra thick solid wooden doors, and stylish ceiling detail that is characteristic of the best of our Southwestern decor including rustic vigas, sculptured plaster detail, groin vaulted brick ceilings and inverted saltillo tile with wooden beams. The four car garage in the main house has an extended/tandem bay to accommodate larger vehicles. This Savant smart home also offers an owned solar system. Most of the furnishings & many accessories are available for sale on a separate bill of sale to facilitate a seamless move in situation. This is indeed a special property offering privacy, wonderful golf course and mountain views, and the best of Lee Hutchinson's Southwestern architecture that harmoniously blends into our Sonoran Desert. With the availability of the golf membership enjoy all the amenities that Desert Mountain offers, including but not limited to, 7 golf courses (6 being Jack Nicklaus Signature courses), the award winning Sonoran fitness center and spa where you can also play tennis and pickleball, swim & workout in the gym. There are 20 miles of trails throughout the 8,300 acre community to experience the serenity of the desert. With the aid of advanced technology and top PGA and LPGA professionals the Jim Flick Performance Center will assist in improving all aspects of your golf game. There are 10 distinct clubhouses & grills for dining, and the new Renegade Clubhouse with a fresh contemporary ambiance which will be opening the end of 2023! The fusion of Hutchinson's design and the allure of Desert Mountain creates a living experience that transcends the ordinary, inviting residents to indulge in the pinnacle of Southwestern luxury.

6512 E Hummingbird Lane Paradise Valley, AZ 85253

$10,400,000
4 Beds
5 Baths
6,990 SqFt
Status Active
MLS # 6652037
Property Type Single Family Residence
Price Type --
This magnificent Paradise Valley estate takes its inspiration from traditional Mediterranean style while celebrating the clean lines and open floor plan of a modern design. The unrivaled design includes a grand light well connecting the main level to a lower living space featuring a theater, lounge, and custom handcrafted bar. As you enter the estate, a welcoming courtyard for guest parking will lead to the grand entrance. A secondary secluded auto court and 4 car garage is situated at the back west end of the property. Indulge in a private backyard oasis offering ultimate privacy and a state-of-the-art indoor-outdoor kitchen. The 64 feet lap pool and spa is perfectly situated for entertainment and enriches the design coupled with a large lawn including a sports court and room for furry friends. With defined custom home knowledge alongside a tradition of quality and attention to detail, BedBrock has successfully developed luxury communities that have exceeded expectations for value and quality across the Valley. The award-winning team offers a seamless design-build process in-house. Renderings are made for illustration purposes only. Changes to the renderings and the plans are subject to change.

9108 E Grapevine Pass -- Scottsdale, AZ 85262

$10,000,000
5 Beds
6.5 Baths
7,945 SqFt
Status Active
MLS # 6628320
Property Type Single Family Residence
Price Type --
FULL GOLF MEMBERSHIP AVAILABLE TO BUYER AND READY TO TRANSFER UPON APPROVAL FROM DESERT MOUNTAIN CLUB AND A SUCCESSFUL CLOSE OF LAND AND HOME BUILD CONTRACT. Sexy, sleek contemporary encapsulating modern luxury with the natural surrounding beauty of the Sonoran Desert and private 25 Acres. Nestled at the end of a winding road, perched into the hillside where the horizon paints an exquisite blend of colors during the sunrise and sunset. Featuring elements of stone, glass and wood this home will come together harmoniously to create an elegant symphony of textures and forms. The heart of the home is a great room space / open kitchen with floor to ceiling windows that will capture the panoramic vistas, inviting the outside in. The patio spaces an extension of the home's grace, boasting an infinity-edge pool that will seemingly blended with the horizon, bar/bbq along with dining area for al fresco meals, and a fire pit where stories will be shared under the starlit skies. This floorplan allows for 100% single level living with main floor featuring split primary bedroom, two private guest en-suites, wine room, study and 5 car garage. Lower level encompasses a large game /bonus room and two private en-suites. Perfect for a couple or entertaining groups of family and friends this 7945 square foot 5 bedroom, 5 car garage home with a total of 14,320 square feet under roof is waiting for you. Black Stone Development and designer Graffin Design have successfully designed and built over 55 properties in Desert Mountain. Ground breaking can occur in as little as 2 to 3 months. Lifts can be added in garage for additional car storage.

5226 E Desert Vista Road Paradise Valley, AZ 85253

$9,999,888
5 Beds
5.5 Baths
8,137 SqFt
Status Active
MLS # 6653185
Property Type Single Family Residence
Price Type --
This Designer owned estate with incredible views of Mummy Mountain, the Phoenix Mountain Preserve & walking distance to Paradise Valley Country Club boasts timeless elegance by Mark Candelaria. The impeccably decorated home offers world class finishes including: checkered marble floors, beautiful coffered ceilings, wainscoting, and many intricate details you must see in person! The property features a Main House with 4 Ensuite bedrooms and an office; and the Detached Guest House features 1 bedroom, 1 bathroom, full kitchen, great room, laundry, and a 1 car garage. The stunning eat-in kitchen offers an oversized kitchen island with taj mahal quartzite countertops. The backyard with a beautifully landscaped exterior features an outdoor kitchen, rose garden, private pool, spa, and ramada.

9204 E Grapevine Pass Scottsdale, AZ 85262

$9,996,000
5 Beds
7 Baths
7,718 SqFt
Status Active
MLS # 6608449
Property Type Single Family Residence
Price Type --
DESERT MOUNTAIN GOLF MEMBERSHIP AVAILABLE-Modern Mediterranean Luxury Living meets Fantastical Fun on one of the highest elevated estate sites in the premier community of Desert Mountain. Situated atop all of Desert Mountain on 12.2 acres with views of the entire valley. Entering the estate through the privately gated drive gives you the first sight of prominent elegance. The stone exterior with Cantera stone arches and accents, the forged metal details and limestone pavered entry greet you upon arrival. The 9 X 12 arched rain glass and iron scrolling door open to a brick mosaic lined rotunda with dazzling crystal chandelier. The elegant livability is instantly felt with the open and light great room split floor plan that blends seamlessly through the pocketing telescoping glass glass doors to the outdoor living space with linear spa and firepit offering unimaginable vistas in every direction. The Gourmet kitchen with large island, Alder wood cabinets, premium appliances and oversized walk-in pantry is every chefs dream. For the finest dining experience step through the circular entry defined by scrolled iron work, into the dining room with spectacular elevated views. The decadent Master Suite is well appointed with a stone wall backdrop, Cantera fireplace, dry sauna, spa like bath with glass tile shower, heated floors, free standing tub and designer closets. The Office, Guest Suite, Powder and Laundry each are statements in design and functionality. In the mood for some fun head downstairs to the whimsical bonus room with semi circular bar, work out room, home theater, and 2 additional guest bedrooms. The fanciful decor; bright colors, unique tile and fun finishes will make you smile. Head outside for more fun, relaxing and all your AZ outdoor entertainment needs; multi leveled patios, putting green, boulder waterfall cascading into the negative edge pool, sunning patios, outdoor kitchen and alfresco dining, Outdoor living room with fireplace, pool bath and outdoor shower. The separate entrance Casita charms every guest with the private patio, fireplace and unstoppable views. Car lovers will be astounded over the impeccably finished 5-car garage with garage vacuums, hot and cold water faucets, shoe closets and extra storage. The finest of organic finishes are throughout the home: wood and stone floors, wood, stone and tile wall details, brick mosaic and wood beam truss accented vaulted ceilings, stone counters and vanities, metal hand made iron work and the impressive steel great room grand fireplace. Additional details include smart home with Control 4 system, 44 solar panels, tankless water heaters, 2-inch water lines, 50 amp RV service and so much more! Ideal south facing backyard capturing maximum winter sun on the patio areas, along with tremendous sunsets, city lights and surrounding mountain views by day and mountain silhouettes by night. Bike or hike from your home to the nearby Desert Mountain Trails with over 20 miles of multi-use trails. Chiricahua and Cochise Geronimo Clubhouses are nearby for quick access to dining and golf. Sonoran Fitness center located within a short drive from this home. Golf Membership to the Desert Mountain Club available.

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