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AFD
10-27-2006, 04:03 PM
Is it totaly dead or still on life support?? Seems to be alot of inventory and very few sales.

OverKill
10-27-2006, 04:26 PM
Flat line :skull:

HocusPocus
10-27-2006, 04:34 PM
everytime i go there seems to be more and more for sale signs up. :crossx:

SummitKarl
10-27-2006, 04:37 PM
New starts = code blue!!
Resales = life support
Additions = stable
:D

ChumpChange
10-27-2006, 04:40 PM
I sold my house in Havi for $325,000 in February. Due to some issues, the couple that bought the house from me wants to sell it already. They have not been able to sell it for even $295,000 at this time. Ouch.

EmpirE231
10-27-2006, 04:51 PM
Looks like might be time to get a house out there in the next 4-8 months :crossx:

SummitKarl
10-27-2006, 05:10 PM
Looks like might be time to get a house out there in the next 4-8 months :crossx: the two groups that purchase most of the housing do it at the end of their respective seasons.
Boaters = late summer
Snow birds = late spring
and interest rates still look favorable
right now...there are a heck of allot of high dollar boats for sale, I am guessing that there could be some correlation there :idea:
we will see come February what the snowbirds have to say..http://www.***boat.com/image_center/data/520/2734dunno-thumb.gif
typically (even in the boom) Nov-Feb is and has always been slow

HocusPocus
10-27-2006, 05:26 PM
right now...there are a heck of allot of high dollar boats for sale, I am guessing that there could be some correlation there :idea:
i would bet on it. :) its going to be interesting to see what happens.

AFD
10-27-2006, 05:26 PM
Seems that most new home there in the past few years have been vacation homes paid for by home equity loans. Now that the rates on the HELOC's are getting higher and higher the outlook is not good.

AFD
10-27-2006, 05:29 PM
i would bet on it. :) its going to be interesting to see what happens.
Can I get some action on that as well?? Sad to say that there are a whole lot of folks that have leveraged their homes to buy toys they could never afford. Amazing what some folks will do to be in the cool crowd.........

HM
10-27-2006, 05:33 PM
I sold my house in Havi for $325,000 in February. Due to some issues, the couple that bought the house from me wants to sell it already. They have not been able to sell it for even $295,000 at this time. Ouch.
How badly do they want to get out of that house? Do they have any equity? I might have someone that would give them what they paid for it.

PBOCOP
10-27-2006, 05:38 PM
My buddy listed his yesterday for $380,000 and got an offer the same day for $371,000. 1600 sq ft, 4 bed, 2.5 bath. I told him it wouldn't sell, he proved me wrong. So things are selling, just a matter of getting lucky. Oh he bought it 4 years ago for $119,000.

TCHB
10-27-2006, 05:38 PM
The sales have dropped off big time. Last week a total of 6 homes hit the escrow office. That is a big drop from 25 to 3o.

SummitKarl
10-27-2006, 05:41 PM
Can I get some action on that as well?? Sad to say that there are a whole lot of folks that have leveraged their homes to buy toys they could never afford. Amazing what some folks will do to be in the cool crowd.........
agreed...........IMO except for a home or car, if you can't afford it out of pocket, most likely you can't afford it :hammer2: at least thats what I keep telling myself :rolleyes:

Jyruiz
10-27-2006, 05:44 PM
agreed...........IMO except for a home or car, if you can't afford it out of pocket, most likely you can't afford it :hammer2: at least thats what I keep telling myself :rolleyes:
I am the say way, I don't take any money out or refi to buy toys, not even cars.

AFD
10-27-2006, 06:31 PM
My buddy listed his yesterday for $380,000 and got an offer the same day for $371,000. 1600 sq ft, 4 bed, 2.5 bath. I told him it wouldn't sell, he proved me wrong. So things are selling, just a matter of getting lucky. Oh he bought it 4 years ago for $119,000.
Thats great news for your friend. However the question is how much of that equity is left?? Hopefully all of it.
LHC being the land of ego, most people will do anything to have the next best thing. Sad but true.

SHOTKALLIN
10-27-2006, 06:46 PM
My buddy listed his yesterday for $380,000 and got an offer the same day for $371,000. 1600 sq ft, 4 bed, 2.5 bath. I told him it wouldn't sell, he proved me wrong. So things are selling, just a matter of getting lucky. Oh he bought it 4 years ago for $119,000.
It costs 230K to build a 1800 sq ft w/ 3 car garage home on your lot today. Why were prices that good 4 years ago? How old is your buddy's house? Are builders just rippin people off or are materials costs really this high now?

SHOTKALLIN
10-27-2006, 06:49 PM
I am the say way, I don't take any money out or refi to buy toys, not even cars.
never sell an apreciating asset to buy a depreciating one. same goes for equity.

djunkie
10-27-2006, 07:03 PM
It costs 230K to build a 1800 sq ft w/ 3 car garage home on your lot today. Why were prices that good 4 years ago? How old is your buddy's house? Are builders just rippin people off or are materials costs really this high now?
I paid less than that for mine 2 years ago. Brand new 1500 sq.ft. on a 11,000 sq. ft corner lot. I think the prices to build haven't gone up too much, its the price of the lots that have.

SummitKarl
10-27-2006, 07:33 PM
It costs 230K to build a 1800 sq ft w/ 3 car garage home on your lot today. Why were prices that good 4 years ago? How old is your buddy's house? Are builders just rippin people off or are materials costs really this high now?
Yes the material costs are that high . a slab that would cost us $8k to pour Pre-Katrina now cost us $20k to pour, lumber was also hit hard, our resources are being used heavy right now, not to mention off shore demands like China,
so yes material costs are high, add to this that land values in LHC have tripled in 2 years and you have high housing costs.
avg price for a lot in LHC is in the $150k range, +prep costs, =160k ready to build, this means you REALLY!!!!!! need to put a house of $160k or more on that lot to make it feasible.

SummitKarl
10-27-2006, 07:43 PM
I paid less than that for mine 2 years ago. Brand new 1500 sq.ft. on a 11,000 sq. ft corner lot. I think the prices to build haven't gone up too much, its the price of the lots that have.
price to build not that much, what was $169k 2yrs ago (our Kimberly model,= 1671,3bdr/2ba/3car is now $190ish)
now the $35k lot 2-3 years ago is $150k
heck my own lot (alone) is most likely worth 3x what I paid for the whole lot and house, at this point I wonder if I even need HOI anymore,
hell let it burn I will still make a killing on the lot alone :)

shueman
10-27-2006, 08:04 PM
.....now the $35k lot 2-3 years ago is $150k....
That's the biggest unbelieveable... :220v:

cc322
10-27-2006, 08:31 PM
IMO there is nothing wrong with taking somme equity out of you home to purchase a appresiating asset (real estate). just be prepared to go through the peeks and vallyes. Now if you took your equity out to buy a depreciating assets like boats, cars, sand toys, etc, you may be in for a little trouble. Havasu will always be a resort town it will never yeild the big dollars for homes such as OC, LA, Ventura, or even Nor Cal, just not enough industry there to support it. Havasu.... great place to hang, but woouldnt want to live there full time...at least not yet :rollside:

Rexone
10-27-2006, 08:59 PM
I coulda swore I read on this forum (http://www.***boat.com/forums/showthread.php?t=86399) a few months ago that Havasu properties wouldn't be affected by a slowdown and would just keep a growin till it hit Phoenix or some shit. hmmm, maybe it was another forum. :confused:

BoatPI
10-27-2006, 09:11 PM
About 4 1/2 years ago I passed on a very nice Burns home on the golf course for $245. At that time lesser homes were available new with a lot for $119K. I ended up spending 270K for an older large house with 1/2 acre. I did good, and everyone that purchhased up until summer of 2005 did good for a value. But material costs and land prices went way up at that point.

RiverToysJas
10-28-2006, 06:04 AM
I coulda swore I read on this forum (http://www.***boat.com/forums/showthread.php?t=86399) a few months ago that Havasu properties wouldn't be affected by a slowdown and would just keep a growin till it hit Phoenix or some shit. hmmm, maybe it was another forum. :confused:
But you did read it on the internet, so it must be true! :idea: ;)
RTJas :D

ratso
10-28-2006, 07:15 AM
I guess I was spoiled here in Texas. I used to build a few homes, live in them, and sell them. It was very profitable for awhile. My first home I ever built was in 82, 1400sq ft, lot cost 400 and built home for 24K...sold for 59K. Fast forward to 98, 3000sq ft, 12 acres cost me 15K and built for 85K...sold for just under 200K. Those were the good ole days. I've bought and sold a few since, but building is out of the question... just too expensive. That 3000sq ft home now, in my neck of the woods...going that custom, would run me well over 300K. I'm sitting on a nice piece of property but just not ready to throw that kind of "change" at anything.

SummitKarl
10-28-2006, 07:38 AM
I coulda swore I read on this forum (http://www.***boat.com/forums/showthread.php?t=86399) a few months ago that Havasu properties wouldn't be affected by a slowdown and would just keep a growin till it hit Phoenix or some shit. hmmm, maybe it was another forum. :confused:
and I still stand by that, western AZ will do just that, just not in a couple of months :rolleyes: or at the 30+% rate it was, whoop dee doo so we are correcting a bit, I will take 12% on my money any day
it took 40yrs to over crowd North San Diego county, and two "corrections"

wsuwrhr
10-28-2006, 07:48 AM
Fast forward a few years down the road and I'll be out there too. I have wanted a second home out there for years now.
bRian