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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18802 N 97th Place Scottsdale, AZ 85255

$9,969,000
8 Beds
8.5 Baths
12,030 SqFt
Status Active
MLS # 6685322
Property Type Single Family Residence
Price Type --
Do not miss out on this masterpiece of modern Mediterranean design located within the exclusive gates of Silverleaf, North Scottsdale's premier luxury community. This stunning residence seamlessly blends timeless Mediterranean architecture with contemporary elements, offering a lifestyle of sophistication and comfort. After a significant price reduction, the value is hard to ignore, given how much the home has to offer. The open-concept floor plan effortlessly connects the indoor and outdoor living spaces, creating an ideal environment for both entertaining and everyday living. High ceilings create a sense of airiness and grandeur, the hardwood flooring and custom millwork add warmth and character, and the large telescoping pocket doors and expansive windows throughout invite natural light and provide picturesque views of the surrounding desert landscape. The main level primary suite is a spacious sanctuary boasting a spa-like ensuite bath and a private patio, while the additional bedrooms (including separate guest casita) offer ample space and comfort for guests or family members, each thoughtfully designed with their own ensuite baths. The kitchen embodies both form and function, with a large kitchen island serving as the focal point, surrounded by high end appliances, including Miele gas range and oven, steam oven, dual dishwashers and built-in coffee maker, while the sleek and sophisticated custom cabinetry provide ample storage space. Tastefully integrated into the social hub of the home, the wet bar is a chic and functional space designed for entertaining guests with ease, and is equipped with a sink, a mini-fridge, ice-maker, and ample storage for glassware, bottles, and bar accessories, ensuring everything needed for cocktail hour is within arm's reach. The glass wine wall not only serves as a visually stunning backdrop but also acts as a temperature-controlled wine cellar, and with its seamless integration into the home's design, the glass wine wall adds an element of luxury and refinement, elevating the overall ambiance of the space. Descend into the lower level of the home and enter an expansive finished space designed for endless entertainment. The game room is a haven for friendly competition and leisurely enjoyment, with comfortable seating areas providing the perfect spot for unwinding. Providing accommodations for guests or younger family members, the eight-bed bunk room offers a cozy retreat designed for comfort and convenience. The star of the show is the indoor state-of-the-art sport court area, where athleticism and recreation converge in one dynamic space. Equipped for a variety of activities, including ice hockey, pickleball, and more, it provides a versatile space for staying active and having fun in the comfort of your home. Outside, a backyard oasis beckons with resort-style amenities including a sparkling diving pool, large spa, cabana, and outdoor dining spaces with built in heaters and misting fans, ideal for the warm days and cool desert nights. With its impeccable design, luxurious amenities, and prime location, this modern Mediterranean masterpiece offers a truly unparalleled lifestyle experience in North Scottsdale's most coveted enclave. Silverleaf, located in North Scottsdale, Arizona, is a prestigious guard gated community known for its luxurious estates, exclusive golf courses, private Club and stunning desert landscapes. The Tom Weiskopf-designed Silverleaf Golf Course is a highlight for golf enthusiasts. With a blend of Spanish and Mediterranean-inspired architecture, the community offers a high standard of living, including upscale amenities like spas, fine dining, and exclusive shopping. Residents enjoy a harmonious balance between modern luxury and the natural beauty of the desert environment, making Silverleaf a sought-after destination for those seeking an exceptional lifestyle in North Scottsdale.

8412 N Golf Drive Paradise Valley, AZ 85253

$9,950,000
6 Beds
6.5 Baths
7,442 SqFt
Status Active
MLS # 6656305
Property Type Single Family Residence
Price Type --
Indulge in the epitome of opulence within this exclusive custom estate and gracing the prestigious landscape of Paradise Valley. Located on the prestigious Camelback Country Club Estates with amazing views of Camelback and Mummy Mountains. Luxurious views of green of Hole #17 with a lake in between that extends all across your back yard. From the moment you arrive, the grandeur of this residence is unmistakable, with a sweeping circular driveway leading to a gorgeous entrance framed by meticulously landscaped grounds. Step through the imposing oversized glass doors and be embraced by the sheer magnificence of the great room, where a resplendent fireplace commands attention amidst the exquisite architectural detailing, while a bespoke wet bar, complete with an ice maker and wine..... fridge, stands as a testament to refined entertaining. The seamless flow of space leads to an awe-inspiring dining room and kitchen, where expansive sliders invite the lush outdoors in, casting a spell of serenity over the entire home. Culinary delights await in the chef's kitchen, boasting sleek cabinetry, top-of-the line appliances, and a sprawling center island perfect for culinary creations and casual gatherings alike. Adjacent, a sunlit dining nook beckons with its abundance of windows, offering a panoramic vista of the backyard surroundings. Retreat to the primary suite, where panoramic views and a crackling fireplace set the stage for relaxation, while the spa-like bath, adorned with dual vanities, a glass-enclosed shower, and a sumptuous soaking tub, promises indulgent moments of tranquility. Each additional bedroom boasts its own unique allure, adorned with luxurious finishes and unparalleled comfort. Outside, an oasis awaits, with a custom pool and spa serving as the focal point of the lush landscape, while a covered patio, complete with a fireplace, provides the perfect setting for intimate gatherings or soirées under the stars. A built-in BBQ grill station with ample seating, enhances the al fresco experience amidst the lush surroundings. Completing this estate's allure is the convenience of a four-car garage, providing ample space for your prized vehicles and offering the utmost in convenience. Immerse yourself in the luxury of living, where every detail speaks to unparalleled craftsmanship and sophistication a timeless retreat awaiting its discerning resident. Discover the pinnacle of luxury living amidst the serene beauty of Paradise Valley, where every corner of this estate tells a story of impeccable taste and refinement.

7555 N Eucalyptus Drive Paradise Valley, AZ 85253

$9,700,000
4 Beds
3.5 Baths
7,592 SqFt
Status Active
MLS # 6687994
Property Type Single Family Residence
Price Type --
New to the market for the very first time, this majestic, warm, and elegant Desert Contemporary occupies a serene setting and sits on a site of 2.3 acres on the Paradise Valley Country Club golf course. This one-of-a-kind highly desirable lot is situated on one of the most coveted cul-de-sacs in Paradise Valley. The splendor of the home, built in 1998, and featured in Phoenix Home and Garden magazine, begins by opening the dramatic front door of inlaid walnut wood with sculpted iron handles. Showcasing the extraordinary craftsmanship found throughout the home, the entry rotunda conveys a gallerylike calm, featuring dramatic art niches, honed marble and cherry wood floors illuminated by a dome skylight. A magnificent great room has soaring14' high ceilings of beams and inlaid wood. Floor to ceiling glass doors and windows frame views of the golf course and incredible vistas of the mountains. The kitchen with alder wood cabinetry, center island and eating bar flow into a breakfast room with a two-way fireplace and curved windows. Deep set patios invite you outside to the marble clad BBQ and outdoor dining, firepit and reflecting pool. Formal dining can be enjoyed while looking at vignettes of desert landscaping through glass doors on one side and a wall-to-wall window on the other. A peaceful retreat, the primary bedroom and office wing is a private space with well-placed windows, high ceilings and an atrium effect for the primary bathroom. A cozy yet spacious office is warmed by a 3-sided slate fireplace, creating a dual office space, art walls and comfortable seating. A secondary bedroom suite has a kitchenette and separate entrance, making it perfect for guests. A new wing was added in 2005, with a sizable jack-and-jill bathroom between two bedrooms, one of which can serve as another office space. Symmetrical lines, warm hues, serene elegance, and comfort make this residence a timeless masterpiece.

4451 E Joshua Tree Lane Paradise Valley, AZ 85253

$9,695,000
5 Beds
6.5 Baths
5,458 SqFt
Status Active
MLS # 6652748
Property Type Single Family Residence
Price Type --
Recently completed award-winning Razor's Edge is a one-of-a-kind modern contemporary home designed by C.P. Drewett and built by BedBrock Developers. Truly an architectural triumph blending form and function with the natural desert environment. Finishes include Tuscan travertine stone which enhance impressive roof overhangs and black basalt which flows throughout. Retractable glass walls provide unobstructed views of Camelback Mountain. North South Facing. Oversized windows frame Mummy Mountain and the Phoenix Mountain Preserve to provide a 360-degree view. Interior finishes elevate its artistic exterior with a custom Snaidero Italian kitchen and wine room. Imported Italian floors, Ice Crystal Marble, Quartzite Taj Mahal stone and a St Gabriel leathered black granite bar and fireplace. Travertine massing joins impressive roof overhangs from beveled edges that 'blur the distinction between roof and walls.' 1,209 Sq Ft of livable outdoor space making a total 6,667 Sq Ft under the roof. The Snaidero Italian kitchen features a wine room and Wolf Sub-Zero appliances. Custom lighting is found throughout, and Italian porcelain tile embellishes the floors and extends to outdoor spaces. The Crestron Electronics system powers the home and professional landscaping adorns the property's perimeter. Winner of the 2021 Gold Nugget Award of Merit among many others, the home attained international recognition for best custom home 4000-6000 sq ft. Razor's Edge is a state-of-the-art modern contemporary masterpiece. The residence appears to soar above the desert floor, defying gravity, while the contrasting stone elements firmly ground the architecture to the unique site. The custom home is comprised of five bedrooms, a guest room with separate entrance, and a commanding upper game room which has 360-degree views through clerestory windows and adjacent patios. The interior design followed the architectural lines to the exterior and maintains the same proportion and scale on the inside. A conservative materials palette with clean lines exemplifies the home's contemporary aesthetic. Endless views from every room enhance the indoor/outdoor livability of the home. **See the Document tab for more details**

41 Biltmore Estate Phoenix, AZ 85016

$9,695,000
9 Beds
13 Baths
17,819 SqFt
Status Active
MLS # 6666273
Property Type Single Family Residence
Price Type --
One of the most impressive mansions in Arizona, this grand estate sits on a stunning acre golf course lot at the iconic Arizona Biltmore Resort with spectacular views of Camelback Mountain and Piestewa Peak. Capturing the essence of a resort that has entertained presidents, dignitaries and Hollywood's elite, the home was designed in an architectural style reminiscent of old-world opulence. Exquisite detail representing only the finest craftsmanship and materials fills its voluminous 17,000+ sq ft of living space. Experience illustrious beauty at every turn. Meander through halls and rooms crafted with intricate tile patterns, hand-carved wood wainscoting, dramatic tray ceilings, wood beams and terracotta tile floors. Well-placed sconces and chandeliers create a warmly elegant ambience

6554 N 40th Place Paradise Valley, AZ 85253

$9,690,000
6 Beds
6.5 Baths
7,700 SqFt
Status Active
MLS # 6613811
Property Type Single Family Residence
Price Type --
Discover contemporary elegance in this exceptional 6-bedroom, 6.5-bathroom residence situated in Paradise Valley. Designed with an open floor plan and abundant glass, this home seamlessly integrates indoor and outdoor living, creating a sense of boundless space and tranquility. This modern contemporary masterpiece combines luxury, elegance, and the natural beauty of Paradise Valley, creating an unparalleled living experience.

6822 E Solcito Lane Paradise Valley, AZ 85253

$9,625,000
5 Beds
5 Baths
7,700 SqFt
Status Active
MLS # 6680237
Property Type Single Family Residence
Price Type --
Welcome to the pinnacle of luxury living in this elegantly crafted 7,700 sq ft single-level classic ranch home with modern clean design. House includes 6,500 sqft main home and 1,200 sqft 2 Bed, 2 Bath casita with its own separate private drive. Within walking distance of the newly built Ritz-Carlton resort with world-class dining, shopping, and entertainment. Other features include 4-car garage, gym, office room, game room, wine room, soaring ceiling heights and courtyard with fireplace & camelback views. Spacious backyard with a large pool, spa, firepit, ramada with BBQ and covered patio make this backyard ultimate destination for entertainment. HOME WILL BE READY TO MOVE IN AUGUST 2024. Make the move now and seller can accommodate minor changes to interior finishes to your taste. Please review the documents section for floor plans, interior finishes book and landscape plan.

5215 E Orchid Lane Paradise Valley, AZ 85253

$9,500,000
6 Beds
8 Baths
7,200 SqFt
Status Active
MLS # 6672284
Property Type Single Family Residence
Price Type --
Plans call for a 7,200 square foot 6 bedrooms 7.5 bath single level luxury estate with a four car garage on an acre lot. Plans are approved and permits are in hand which makes this home available to be moved in within six to seven months after closing. Build your dream home in Mockingbird Estates on this cul-de-sac lot with views of Mummy Mountain from almost every room. Plans call for a complete smart home, solar system with battery backup, 1200 square foot primary suite with a fireplace, and doors leading out to the back yard. Each bedroom has a walk-in closet and ensuite bathroom. In addition to the six bedrooms you will also have a private office that you can simply add a closet to if you prefer. The entire home can be adjusted and finishes picked to meet your style. Call today to view the plans.

6651 E Horseshoe Road Paradise Valley, AZ 85253

$9,495,000
6 Beds
8 Baths
7,865 SqFt
Status Active
MLS # 6507921
Property Type Single Family Residence
Price Type --
Impeccably reimagined & fully remodeled to embody the essence of a new home with a luxurious modern ambiance for 2024. This stunning property spans 7,865 square feet, offering 6 bedroom suites, including an attached casita. The Master Suite is well equipped with a romantic fireplace, lavish bathroom and 2 huge boutique styled closets. The heart of the home is the impressive Kitchen that seamlessly flows into the expansive Great Room, complete with dining island & a well-equipped Back Kitchen. The unique lower level is encompassed by a huge enertaining space with a wine cellar, wet bar & bath. Additionally, there is an Executive Office & a redesigned exterior complemented by a fabulous pool, perfect for hosting exceptional events. The included photos are renderings.

20243 N 103rd Way Scottsdale, AZ 85255

$9,450,000
6 Beds
8 Baths
8,279 SqFt
Status Active
MLS # 6688766
Property Type Single Family Residence
Price Type --
WELCOME TO THE EXCLUSIVE COMMUNITY OF SILVERLEAF! EXQUISITE & IMMACULATE CUSTOM MODERN, LIGHT & BRIGHT ESTATE SITUATED ON SILVERLEAF'S 3RD FAIRWAY OF THE TOM WIESKOPF GOLF COURSE WITH BREATHTAKING MOUNTAIN, GOLF COURSE & CITY LIGHT VIEWS. A RARE OPPORTUNITY TO FIND A CUSTOM HOME LOCATED IN THE HIGHLY COVETED SILVERLEAF PARKS. FEATURING AN OPEN FLOOR PLAN W/8,279 SQUARE FEET, 6 EN SUITE BEDROOMS INCLUDING A CASITA, OFFICE W/BUILT-IN BOOKCASES AND PRIVATE PATIO, BONUS/MEDIA ROOM, 8 BATHROOMS WHICH INCLUDES 2 POWDER BATHS AND A POOL BATHROOM, 2 LAUNDRY ROOMS (DOWNSTAIRS LAUNDRY HAS SERVICE ENTRY), MULTIPLE VERANDAS, 4 CAR-GARAGES W/BI STORAGE CABINETS. SOPHISTICATION, COMFORT, EASY LIVING, ENTERTAINING WITH INDOOR/OUTDOOR LIVING AT IT'S BEST. A GOURMET KITCHEN TO IMPRESS ANY COOK, FEATURING DOUBLE ISLANDS, LARGE WALK-IN PANTRY, SUB-ZERO & VIKING APPLIANCES, 2 DISHWASHERS, 2 MICROWAVES, WARMING DRAWER, BUTLER'S PANTRY W/WINE FRIDGE AND A 336 BOTTLE TEMPERATURE CONTROLLED GLASS WINE WALL. THE LARGE MASTER RETREAT BOASTS A COZY FIREPLACE, HIS/HER CLOSETS, A LARGE MASTER BATH W/HIS/HER WATER CLOSETS, FREE-STANDING SOAKING TUB, FIREPLACE AND FINISHES TO DIE FOR! LIVE OUTDOORS YEAR-ROUND W/THE MOST AMAZING BACKYARD; OUTDOOR KITCHEN, GAS FIREPLACE AND GAS FIRE PIT, HEATED POOL/SPA W/WATER FEATURES, MISTING SYSTEM, CEILING HEATERS, MULTIPLE GRASSY TURF AREAS AND DID I MENTION THE VIEWS! IDEALLY LOCATED TO SHOPPING, SCHOOLS, RESTAURANTS AND THE 101 FREEWAY. THIS IS A MUST SEE, CALL FOR A PRIVATE VIEWING.

120 Paisano Road Sedona, AZ 86336

$9,200,000
6 Beds
9 Baths
7,359 SqFt
Status Active
MLS # 6676875
Property Type Single Family Residence
Price Type --
Introducing an exquisite 8-acre retreat with unparalleled elegance, 120 Paisano Road is the pinnacle of luxury in Sedona, Arizona. With a total of 9,113 square feet of meticulously crafted living space, this one-of-a-kind property boasts 3 separate homes, 6 bedrooms, 6 full bathrooms, and 3 half bathrooms. Tucked away at the end of a secluded, private road, you'll revel in the utmost privacy while being just moments away from the heart of Sedona. The three homes are fully integrated with a custom Savant home automation system, including 22 music zones, 8 video zones, 151 lighting zones and 30 motorized shades, all easily controlled by the click of your phone or tablet. Completed in 2018, this modern luxury home boasts the utmost quality craftsmanship and finishes. The main house spans 5,739 square feet with breathtaking panoramic views from every room. A floor to ceiling, stained glass art installation, by Bob Berg surrounding the massive pivot hinged entry door greets your guests upon arrival. A grand stone entry wall that flows from the exterior to the interior is stunning. The Kitchen is an entertainer's dream, adorned with custom finishes, materials and top of the line appliances. The spacious, open floor plan, towering ceilings, exposed beam architecture, and magnificent architectural fireplace accentuate the Living and Dining spaces. Porcelain tiles, imported from Italy are throughout the main level, equipped with radiant heating. The Powder Room on the main level is truly exceptional. Three ensuite bedrooms, currently configured as a Primary Suite, Office, and Gym, complete the main level. The Primary Suite is elegant and the perfect place to relax and soak in the red rock views of Boynton Canyon while the bathroom provides a spa-like experience. The large walk-in closet features a built-in refrigerator and washer/dryer. Both Gym and Office Bathrooms and Closets have custom casework, and top of the line finishes. The Gym Bathroom also features a large custom sauna. Downstairs, you will enjoy an incredible home cinema by Technically Integrated featuring a state of the art, Meyer Sound system, not available to consumers. This is the same reference sound that is used in Hollywood movie soundtracks including Skywalker, Pixar, 20th Century Fox and Warner Bros. Meyer Sound engineers were flown in from Berkeley to calibrate the system and certify the only EXP Cinema in Sedona! Beyond the theater, you'll fall in love with the gorgeous wine cellar, cocktail lounge, and beer alcove with custom, temperature-controlled wine storage for 1000+ bottles with state-of-the-art lighting. Full wet bar with top tier finishes and appliances including refrigerated drawers, ice maker, integrated kegerator, and dishwasher. All curated to provide the most eloquent experience. The Verde Valley (20 minutes away) was declared an American Viticultural Area (AVA) with a booming wine scene and over 20 amazing tasting rooms/wineries. The Main Guest House spans 1,305 square feet and boasts 2 luxurious ensuite Bedrooms, a full Kitchen, inviting Dining area, and a Living Room adorned with a custom steel surround gas fireplace. A private terrace off the larger guest bedroom provides the ideal setting for quiet contemplation overlooking the private horse arena. There is also a full-size stacking washer and dryer within for your guests to use. Embodying sophistication and luxury at every turn, welcome to the Playhouse. Originally an art studio belonging to renowned cowboy artist legend, Joe Beeler. This space pays homage to its past while embracing modern luxury with 2,069 square feet of entertaining space and 1,000+ square feet of covered terrace. The Playhouse features a full bathroom and a half bathroom, along with an array of playful spaces, including a pool table room, ping pong table room, Kitchen, and Lounge (Do not miss the hidden vault, safe room). Step outside the Playhouse and experience opulent outdoor living. The professional-grade tennis court and practice court, invite you and your guests to engage in spirited matches amidst breathtaking red rock surroundings. Gather around the gas fire pit, perfect for creating cherished memories under the starlit, world famous, dark sky city of Sedona. Note: this building could easily be reconfigured as a 2 or even 3-bedroom residence. In addition to the 3-home main estate, on 5-acres, there's an elevated 3-acre, buildable parcel located across the street included in this sale. This property has access from both Color Cove and Paisano Roads with epic views of nearby iconic Thunder Mountain. Whether you enjoy an evening horseback ride amidst your own private slice of nature or have the vision to turn this opportunity into another custom home that could be sold separately, the possibilities are endless. This is truly the most spectacular estate on the market in Sedona today and the opportunities are endless. With three private residences, and ample space for entertainment, you could host a beautiful wedding, private event, or retreat. The proximity to world class golf, horseback riding, mountain biking, hiking, off road trails, fly fishing, and a myriad of outdoor activities are literally right outside your door. Located just minutes from the luxurious Enchantment Resort and Seven Canyons Country Club where scenic golfing and 5-star dining await! I personally invite you to tour this amazing property and let your imagination run wild. Please visit www.paisanoestate.com for video tours and more info!

6850 N 39th Place Paradise Valley, AZ 85253

$9,000,000
4 Beds
4.5 Baths
6,965 SqFt
Status Active
MLS # 6638873
Property Type Single Family Residence
Price Type --
EPIC City Lights, Camelback Mountain VIEWS inside the Guard Gated community of Paradise Reserves. Just under 2.2 hillside acres, seamlessly crafted between newly built custom homes. Discover every luxury upgrade one can imagine; intricate tilework, cascading stone waterfall, 25-ft great room, custom glass underlit bar, effortlessly merge its outdoor spaces, and infinity-edge pool with your interiors. The chef's kitchen, with a geo-lux quartz island, complements the entertaining lifestyle. The elegant primary suite, custom closets, private balconies, theater and gym contribute to refined living. Inside this guard-gated Paradise Valley community minutes from premier shopping and dining, between Lincoln and HWY 51, this residence offers unparalleled privacy, elegance and security. See its motion video, features and benefits up close.

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