Buying a house in Havasu

[Concept1]

What are some of your thoughts on buying a house in Havasu? Dure to the amount of trips Im already planning I think im going to buy something out there so we always have a place to stay. To the ones that own houses out there and dont live there, do you just let them set, or do you try and rent it out for a vacation rental or something to offset the cost? I already have a house there picked and im planning on making an offer really soon so I dont miss out. Any help would be appreciated. Thanks!!

[djunkie]

We rent for 4 months during the snow bird season. The summer months we use it. Usually out there twice a month so we don't rent then.

[Havasu1986]

Same here...been doing it for 20 years, but mine stays 6 months. Some property managers aren't taking on anymore rentals due having to many house's already.

[Concept1]

O.K. Well at least i know what to expect. Maybe list it on a owner vacation rental site and see what happens. Its only going to be around 1500.00 a month or so, from what i see its at least 200-250 a night at a good hotel during busy weekends, and 150 or so on off days, id rather spend the $$ and maybe get some equity over time. Sound about right? Does Havasu gain equity on houses near the lake??

[Havasu1986]

I prefer to be closer to the lake. You will be saving on hotels, storage or gas towing the boat. You can leave all your clothes at the house and cook if you like. And you don't have to worry about reservations. But let me warn you in the 20 years I have been coming here I have seen plenty of people get all excited and buy a boat and a house and then they get burned out or start having kids. And then Little Leauge or Pop Warner etc. Me I never get tired of it. Good Luck.

[Sandbar Junkies]

I enjoy the winter almost as much as summer, good riding, play some golf and know jackasses on the launch ramp.

[dumbandyoung]

I have a house in willow valley. near bullhead, walking distance to the water and a private marina. I don't rent in the winter. I leave too much personal stuff up there and dont want people using it. That i don't have to worry about tenants.
Havasu1986 is right. you can get burnt out. Its not like a hotel, you have to clean it and keep it up all yourself. And if you have 10 people up there and its all on you you might get stressed. I know this all too well. but the convenience of having your own place is great. No more towing every weekend you go up and no more rushing to get reservations for the big weekends.

[Mrs.Racer277]

We finished our house just over a year ago. Use it almost 3 out of 4 weekends a month. It is so easy to jump in the car and go. Do not plan on renting. We use it to much. Winter is fun for riding and boating. :)

[a catered life]

since i got bumped out of my room at dia's i claim first extra bedroom

[Mrs.Racer277]

since i got bumped out of my room at dia's i claim first extra bedroom
Always room for you. Just let me know when. :D

[TheCarDudes]

We just bought in October and have been out 6 of the last 10 weekends. We will never rent it out. We bought too nice of a house. It would also feel uncomfortable to leave all our personal belongings in the house while other people are there using it. ESPECIALLY THE BOAT.
Our house is on the south side of town on the lake side. Nice and quiet over there. Newer houses. Good neighbors. Only 6 miles away from Catail Cove as an alternate launch site when it gets crowded in town. Big plus.
It is very relaxing to be able to just jump in the car and jam out to the house not thinking of the "List" that needs to be packed every time.
Be prepared for some heavy duty "Leaving Day" cleaning. It always seems that it ends up being 2 to 3 hours of picking up-cleaning up before you head back home.

[Concept1]

I prefer to be closer to the lake. You will be saving on hotels, storage or gas towing the boat. You can leave all your clothes at the house and cook if you like. And you don't have to worry about reservations. But let me warn you in the 20 years I have been coming here I have seen plenty of people get all excited and buy a boat and a house and then they get burned out or start having kids. And then Little Leauge or Pop Warner etc. Me I never get tired of it. Good Luck.
LOL well I hope I dont fall into that catgory, I havent enjoyed anything like I have the boat so far, having a nice house as a vaca home is always a good idea, and having the boat there just makes it better for me! Thanks for the warning though, im going to live out my life being single and having fun! :-)
( As long as KARMA doesnt catch up to me! ) HAHA:D

[Concept1]

Well I know it does sound like the ultimate convenience because i do really plan on going over there as much as possible, even on big weekends like spring break and other holidays. I dont mind the idea of renting it out a couple weeks a month but of course that might change when i actually get out there after someone trashes the place. Putting families in there and interviewing them myself would be the best way to do it if I were to rent, it really depends on who you rent it to. Phx isnt the best place to have extra houses right now anyway so buying one almost on the wated for 100K less then something here just makes sense to me. Im sure ill be posting about some mishaps in the future but thats what the learning curve is for, I always seem to ride that curve till the end LOL.
Hey dumbandyoung, with your house up there do you have peolpe watch it and or clean it. I have been reading alot of your posts about getting a new boat so do you use it and how often, and do you go to the big party weekends up there? It would be cool to meet some guys and get to know each other up there for sure!

[phebus]

Havasu sucks!! :D
I know, I know, I just had to say that.:)

[Concept1]

HAHA Im sure you have earned your right to say that, im just getting started so it looks like Vegas to me!!!

[dirtmoverjeff]

i'm building a 4 bdr 3 bath 1900 sq ft 3 car boat deep garage w/ rv on side if intrested you can still pick colors should be ready in may or june

[bigq]

I would think if you right down the figures you will not be making money rather then staying in a hotel, but if you look at it for convenance sounds a little more resonable, especially if you go out year round, loads of fun.:)

[Concept1]

i'm building a 4 bdr 3 bath 1900 sq ft 3 car boat deep garage w/ rv on side if intrested you can still pick colors should be ready in may or june
PM me the numbersif you dont want to post them up here. I havent made a final decision yet!

[Concept1]

I would think if you right down the figures you will not be making money rather then staying in a hotel, but if you look at it for convenance sounds a little more resonable, especially if you go out year round, loads of fun.:)
Im not really looking at it to make money, now if i can have people in there when im not to help offset the cost for a while that sounds great to me. Buying cheap furniture and furnishing it is the easy part really, I do that out here for my renters and I havent had any major problems yet. Now the convenience factor is the selling point to me, heading up there when i want, knowing exactly where im going after a 3 hour drive, and its around 1500.00 a month, thats almost too good to be true, or at least sounds that way...

[bigq]

The nicest part is not having to tow a boat when you go out.:D

[voodoomedman]

I would think if you right down the figures you will not be making money rather then staying in a hotel, but if you look at it for convenance sounds a little more resonable, especially if you go out year round, loads of fun.:)
Depends on how much you spend. We split the cost of the house with my in-laws. All I need to do is spend an average of 4 nights per month and it is paid for. That is only accounting for hotel, boat storage and being able to leave my truck out there in the summer and spend less on gas driving the car. That's not to mention the convenience of coming or going when I please, having a kitchen, security for the toys, cleaning the boat in the garage instead of on a hot launch ramp and the list goes on and on. But that is what works for me. We go all year round and even if we didn't I don't want some stranger sleeping and doing it in my bed. Also little children in hotels frequently would not be fun.

[phebus]

When I bought my first house in Havasu, everyone I knew told me I was stupid, because I stopped contributing to a supplemental retirement fund to pay the mortgage.
Well, in the little over the year that I owned it, I made over 100k, while the money market fund I was contributing to, went up around 5%.
Best stupid mistake I ever made, and what an investment it was as far as quality family time, and sanity.
Good luck, and I hope to see you in Havasu.

[Havasu1986]

Some people are replying about having strangers in their house using renters. There different ways to rent in Havi. (1) Rent thru a agency and get strangers. (2) Rent to only people you know and trust. (3) This is what I do rent to snowbirds in the winter only. These are older people who are just getting out of the cold states where they live. I have never had a problem in 20 years. My current single guy in his late 60's has been renting from me for 8 years now. I admit that the winters are becoming more fun now with the growth, better shopping,restaraunts and off roading etc. But back then Havi wasn't the same in the winter..BORING. And the snowbirds pay 3/4 of my mortgage.

[INSman]

We just bought in October and have been out 6 of the last 10 weekends. We will never rent it out. We bought too nice of a house. It would also feel uncomfortable to leave all our personal belongings in the house while other people are there using it. ESPECIALLY THE BOAT.
Our house is on the south side of town on the lake side. Nice and quiet over there. Newer houses. Good neighbors. Only 6 miles away from Catail Cove as an alternate launch site when it gets crowded in town. Big plus.
It is very relaxing to be able to just jump in the car and jam out to the house not thinking of the "List" that needs to be packed every time.
Be prepared for some heavy duty "Leaving Day" cleaning. It always seems that it ends up being 2 to 3 hours of picking up-cleaning up before you head back home.
Ditto, with the exception that I am nowhere near Catail and I bought in 2005 :D

[dumbandyoung]

Well I know it does sound like the ultimate convenience because i do really plan on going over there as much as possible, even on big weekends like spring break and other holidays. I dont mind the idea of renting it out a couple weeks a month but of course that might change when i actually get out there after someone trashes the place. Putting families in there and interviewing them myself would be the best way to do it if I were to rent, it really depends on who you rent it to. Phx isnt the best place to have extra houses right now anyway so buying one almost on the wated for 100K less then something here just makes sense to me. Im sure ill be posting about some mishaps in the future but thats what the learning curve is for, I always seem to ride that curve till the end LOL.
Hey dumbandyoung, with your house up there do you have peolpe watch it and or clean it. I have been reading alot of your posts about getting a new boat so do you use it and how often, and do you go to the big party weekends up there? It would be cool to meet some guys and get to know each other up there for sure!
i go up all the time..i have a jet boat right now and some skis. its been in the family for 20 years. i have other relatives and friends who own in willow too. i try to get up twice a month in the summer. winter i barely go up. ill be up this month though for the score races in laughlin. no one cleans it but me or my family that uses it. i just clean it real nice when i leave. the neighbors watch over it while im gone. try to find a place next to people that live in their house all year round.

[bigq]

Depends on how much you spend. We split the cost of the house with my in-laws. All I need to do is spend an average of 4 nights per month and it is paid for. That is only accounting for hotel, boat storage and being able to leave my truck out there in the summer and spend less on gas driving the car. That's not to mention the convenience of coming or going when I please, having a kitchen, security for the toys, cleaning the boat in the garage instead of on a hot launch ramp and the list goes on and on. But that is what works for me. We go all year round and even if we didn't I don't want some stranger sleeping and doing it in my bed. Also little children in hotels frequently would not be fun.
True I had a place and paid 350 a month including taxes, but he said 1500 a month 18,000 a year.

[Mrs.Racer277]

The nicest part is not having to tow a boat when you go out.:D
That is the best part!!! :D

[Mrs.Racer277]

i go up all the time..i have a jet boat right now and some skis. its been in the family for 20 years. i have other relatives and friends who own in willow too. i try to get up twice a month in the summer. winter i barely go up. ill be up this month though for the score races in laughlin. no one cleans it but me or my family that uses it. i just clean it real nice when i leave. the neighbors watch over it while im gone. try to find a place next to people that live in their house all year round.
Hubby and friends love taking their jet boats out in the winter. Last month they ran them to the Sandbar. Loved it :)

[little rowe boat]

We have a place in Havi and we love not towing and just being able to leave without packing a bag.
If you are serious about buying or even building a home in Havasu give Michele Bravata a call she and her husband John are Warlock 25 here on the boards. She made our entire process of finding property and building a home much easier, she walked us through the entire process and did not leave a stone unturned. I believe she wrote the book on customer service.
Michele Bravata (928) 208-9171
Many people here on the boards will also sing her praises.Just ask.

[Mrs.Racer277]

We have a place in Havi and we love not towing and just being able to leave without packing a bag.
If you are serious about buying or even building a home in Havasu give Michele Bravata a call she and her husband John are Warlock 25 here on the boards. She made our entire process of finding property and building a home much easier, she walked us through the entire process and did not leave a stone unturned. I believe she wrote the book on customer service.
Michele Bravata (928) 208-9171
Many people here on the boards will also sing her praises.Just ask.
Michele is the greatest. She really knows her stuff. I would do it all over again in a second. :)

[Sun burners]

Get a nice Big garage, with a house attached.
You will not look back once your in your own home in Havasu.
As others have said Summers are nice, Winters are just as fun and even more relaxing.
The cleaning of the house CAN BE A CHORE. The up keep can be a challenge,
getting contractors or workers to fit your schedule while you are there???
Having 1 snowbird/ and 1 summer family makes it ALOT EAISER!
Oh and getting on the water @ 2 or 3 pm on a holiday weekend after you are well rested from the night before because you got a good nights sleep is nice!

[CBadDad]

Would it not be better to wait another year or so for prices to fall back down into a more realistic range?

[akiwi]

Last year we rented to the people we bought the house from. Snowbirds from MN. They stayed 4 months. It paid the mortgage 100%.
This year, we have been using it too much. Even in the winter. Seems like we will use the house and boat year round. Best investment I have right now. Bought 1 year old house 2 years ago - house has now gone up in value at least 100K on south side of town.
We leave all stuff we need out there (clothes, etc). We pack the kids and the dog in the car and bail out of LA on Friday pm and ruturn Sunday pm. Sounds like a long way to go but it is worth it!
In the last 12 months - we had over 16 trips to Havi.
Good move if you can swing it.

[Concept1]

Last year we rented to the people we bought the house from. Snowbirds from MN. They stayed 4 months. It paid the mortgage 100%.
This year, we have been using it too much. Even in the winter. Seems like we will use the house and boat year round. Best investment I have right now. Bought 1 year old house 2 years ago - house has now gone up in value at least 100K on south side of town.
We leave all stuff we need out there (clothes, etc). We pack the kids and the dog in the car and bail out of LA on Friday pm and ruturn Sunday pm. Sounds like a long way to go but it is worth it!
In the last 12 months - we had over 16 trips to Havi.
Good move if you can swing it.
Thats ecactly what i was thinking, im going up there next week to start looking at houses for sure. I already know im going to use the hell out of it so why not. I buy and sell houses anyway, might as well buy in Havasu as well!!

[USCFAN]

Check your PM's..

[cc322]

We own a condo out there, and have snow birds for 3-4 months, we also rent to boaters who I screen to make sure we get quaility people, and from the fire department as well. We really have rented the crap out of it in the past but are going to scale it down for this summer, we now have our list of regulars and thats good enough. Dont forget about the added cost of utilities, phone, cable, gas, elect, trash, assocation dues if any, and property taxes. If you can do it I say go for it, we havent looked back. Good luck,

[voodoomedman]

We own a condo out there, and have snow birds for 3-4 months, we also rent to boaters who I screen to make sure we get quaility people, and from the fire department as well. We really have rented the crap out of it in the past but are going to scale it down for this summer, we now have our list of regulars and thats good enough. Dont forget about the added cost of utilities, phone, cable, gas, elect, trash, assocation dues if any, and property taxes. If you can do it I say go for it, we havent looked back. Good luck,
His place is lucky. I stayed in it and bought my house that weekend.

[cc322]

I don't want some stranger sleeping and doing it in my bed.
This better not have happened while you were there:D

[voodoomedman]

This better not have happened while you were there:D
:D
The sleeping part but not the other part.

[INSman]

Would it not be better to wait another year or so for prices to fall back down into a more realistic range?
**** NEWSFLASH *****
Prices have stabilized for the most part out there, although there are quite a few deals to be had at present. You will see very little depreciation if any in the next year or anytime after that :D

[Mrs.Racer277]

This better not have happened while you were there:D
LMAO
That is why I do not want renters Ewwwwwwwwwwwwwwww :eek: :D

[CBadDad]

We own a condo out there, and have snow birds for 3-4 months, we also rent to boaters who I screen to make sure we get quaility people,
How the hell did I ever get past your screening process?
**** NEWSFLASH *****
Prices have stabilized for the most part out there, although there are quite a few deals to be had at present. You will see very little depreciation if any in the next year or anytime after that :D
We'll see. Home prices quadrupled from Y2K to '05. They may have stabilized, but I still think they will depreciate at least another 25% over the next two years.
Having said that, if you can get a second home out there (or anywhere) that will esentially pay for itself - more power to you.
Good luck.

[boatnam2]

i wish i would of bought in havasu instead of parker a few years ago,man renting a place out for 3 or 4 months to pay the mortage all year sounds to good to be true.im trying to figure this out i could get something in havasu for 250 or 300k,put down 50k payment maybe 1700-1900 month payment and i can rent it out for 6k a month.i must be adding wrong.

[cc322]

How the hell did I ever get past your screening process?
It was a busy summer, you got lucky:wink:

[Concept1]

i wish i would of bought in havasu instead of parker a few years ago,man renting a place out for 3 or 4 months to pay the mortage all year sounds to good to be true.im trying to figure this out i could get something in havasu for 250 or 300k,put down 50k payment maybe 1700-1900 month payment and i can rent it out for 6k a month.i must be adding wrong.
That seems high man, Im going up there to look at a house this week, its 240,000, putting 10,000 down, payment is 1025, plus the insurance and stuff like that.

[SummitKarl]

What are some of your thoughts on buying a house in Havasu? Dure to the amount of trips Im already planning I think im going to buy something out there so we always have a place to stay. To the ones that own houses out there and dont live there, do you just let them set, or do you try and rent it out for a vacation rental or something to offset the cost? I already have a house there picked and im planning on making an offer really soon so I dont miss out. Any help would be appreciated. Thanks!!
This is how it starts.....the visious cycle of driving back and forth, drive out to get destressed in your Havasu home drive back to get all stressed up again just to have to drive out to get destressed again...been there done that.... just figure out how to make the full time move and forget the middle man:D

[voodoomedman]

i wish i would of bought in havasu instead of parker a few years ago,man renting a place out for 3 or 4 months to pay the mortage all year sounds to good to be true.im trying to figure this out i could get something in havasu for 250 or 300k,put down 50k payment maybe 1700-1900 month payment and i can rent it out for 6k a month.i must be adding wrong.
I think when they say that renting out pays the mortgage that they mean that it pays it for those months that it is rented out. Basically they don't use it in the winter so let somebody else move in and pay for it.

[INSman]

How the hell did I ever get past your screening process?
We'll see. Home prices quadrupled from Y2K to '05. They may have stabilized, but I still think they will depreciate at least another 25% over the next two years.
Having said that, if you can get a second home out there (or anywhere) that will esentially pay for itself - more power to you.
Good luck.
Let me guess, you think your Carlsbad home is going to drop 25% as well :rolleyes:
Watch out, I think the sky is falling :messedup:

[INSman]

That seems high man, Im going up there to look at a house this week, its 240,000, putting 10,000 down, payment is 1025, plus the insurance and stuff like that.
You should be able to find something decent in this price range, just don't expect a pool, view, motorhome garage and tropical landscaping. A piece of real estate is a piece of real estate, make of it as you wish ;)

[Havasu1986]

I think when they say that renting out pays the mortgage that they mean that it pays it for those months that it is rented out. Basically they don't use it in the winter so let somebody else move in and pay for it.
Not in my case I get $1000 a month for 6 months and my house payment is $700. That makes over 8 months worth of payments. Plus I its atax write off on any improvements.

[SummitKarl]

How the hell did I ever get past your screening process?
We'll see. Home prices quadrupled from Y2K to '05. They may have stabilized, but I still think they will depreciate at least another 25% over the next two years.
Having said that, if you can get a second home out there (or anywhere) that will esentially pay for itself - more power to you.
Good luck.
gota go with INSMAN on this one, I lived in Carlsbad from 1963-2002 NEVER!!!ever NEVER did I see prices drop 25% not even in the 1989-90 slow down

[INSman]

gota go with INSMAN on this one, I lived in Carlsbad from 1963-2002 NEVER!!!ever NEVER did I see prices drop 25% not even in the 1989-90 slow down
These are the same people that hope the stock market crashes, when history shows that it just continues to go up over the course of time. :hammer2: :eat:

[Mr.Havasu]

Hi Concept1;
There are alot of great buys in your price range, Check your PM's
Michele

[a catered life]

Always room for you. Just let me know when. :D
thanks sweetie your real special to us:D

[Concept1]

Thanks Michele, I just pm'd you back. There are a couple listed now that are nice, with a view of the lake, a garage, and a carport for the boat, and a big fenced off area for Mmotorhomes or whatever, Im going after that one!

[Havasu1986]

What part of town Concept. If you have the address you can go to www.zillow.com and check out what has been sold recently. It gives you a nice aerial shot of the house to.

[CBadDad]

Let me guess, you think your Carlsbad home is going to drop 25% as well :rolleyes:
Most definately.
There is a house about six doors down from me that was listed last summer for $800K. Three months later, they changed the flyer out front to read "entertaining offers between 749 & 799. That listing expired and they just relisted it between 699 & 749. If they except 700K that is about a 12% drop in six months. I don't think that doubling that in over the next year is that much of a stretch.
gota go with INSMAN on this one, I lived in Carlsbad from 1963-2002 NEVER!!!ever NEVER did I see prices drop 25% not even in the 1989-90 slow down
How much of a drop was there from '88 to '95? I'll buy you a beer if it wasn't at least 25%

[INSman]

Most definately.
There is a house about six doors down from me that was listed last summer for $800K. Three months later, they changed the flyer out front to read "entertaining offers between 749 & 799. That listing expired and they just relisted it between 699 & 749. If they except 700K that is about a 12% drop in six months. I don't think that doubling that in over the next year is that much of a stretch.
How much of a drop was there from '88 to '95? I'll buy you a beer if it wasn't at least 25%
A. The original $800 asking was likely too high to begin with and unsupported
B. The property is likely not the "Best In Class", otherwise would have sold
C. If they sell for $700k, probably still made a hefty profit
D. I highly doubt the $700k buyer will be down another 12% in 12 months
E. The nicer houses usually command close to asking if priced realisticly. Can't tell you how many times I have seen this in Havasu just recently with (2) of my friends buying and thinking they were going to wait it out. They both lost on the properties they "really" wanted but had the same opinion as yourself.
Maybe you should go load up on some "PUT" options for one the the California Real Estate Investment Trusts, so you can make a killing on the slide down :D

[Concept1]

What part of town Concept. If you have the address you can go to www.zillow.com and check out what has been sold recently. It gives you a nice aerial shot of the house to.
Thanks for that info, that is a bad ass site! I talked to Michele ( Warlock 25 ) thismorning and hopefully we can put something together tomorrow!

[little rowe boat]

Thanks for that info, that is a bad ass site! I talked to Michele ( Warlock 25 ) thismorning and hopefully we can put something together tomorrow!
Michele is the best, you will not be sorry.

[CBadDad]

A. The original $800 asking was likely too high to begin with and unsupported
B. The property is likely not the "Best In Class", otherwise would have sold
C. If they sell for $700k, probably still made a hefty profit
D. I highly doubt the $700k buyer will be down another 12% in 12 months
E. The nicer houses usually command close to asking if priced realisticly. Can't tell you how many times I have seen this in Havasu just recently with (2) of my friends buying and thinking they were going to wait it out. They both lost on the properties they "really" wanted but had the same opinion as yourself.
Maybe you should go load up on some "PUT" options for one the the California Real Estate Investment Trusts, so you can make a killing on the slide down :D
Wow, why the insults?
I realize that my example is only a microscopic view of the market as a whole, but I think that it has some merit as to what the market is doing in general. The house is definitely the nicest on the block. It wouldn't have lasted a week on the market at $800K in '05. Unfortunately for them about three months ago a smaller fixer upper sold for $600K by the inheriting children that just wanted the cash.
I just read in today’s paper that foreclosures are at a 30 year high. That is only gonna make the market that much weaker in the future.
The secret to investing is to buy low and sell high...not the other way around. Even if I am wrong about the depreciation over the next year, there is little doubt that if there is any appreciation it will be marginal at best. So then, why is patience such a bad thing? Besides, if I am right the monthly payments will be much less and when prices rise again the potential profits will be all of that much more.
BTW, Concept 1 - Best of luck to you.

[Concept1]

I think investing is about buying low and selling high, but in htis case even if the market goes down it doesnt matter to me. The truth is that if I go to the lake once a month for 3 days the cost of a hotel will equal what my payment is. Im not just doing this for investment purposes, in my case the investment is going to an awesome lake to meet a bunch of awesome people and knowing that i have a place to stay each time, no checking in and out, no one across the wall complaining about noise, and knowing that my boat is safe next to my house. In that case it's a WISE investment! Everyone here has great opinions and I respect everyones the same. Since boating is becoming so important to me even if I never sell it off and pass it down to my future kids the value of the home at the time of purchase or sale really doesnt matter! All I know is that EVERYONE here is invited to come over and have 1 or many beers with us when we get settled in!

[Concept1]

Wow, why the insults?
I realize that my example is only a microscopic view of the market as a whole, but I think that it has some merit as to what the market is doing in general. The house is definitely the nicest on the block. It wouldn't have lasted a week on the market at $800K in '05. Unfortunately for them about three months ago a smaller fixer upper sold for $600K by the inheriting children that just wanted the cash.
I just read in today’s paper that foreclosures are at a 30 year high. That is only gonna make the market that much weaker in the future.
The secret to investing is to buy low and sell high...not the other way around. Even if I am wrong about the depreciation over the next year, there is little doubt that if there is any appreciation it will be marginal at best. So then, why is patience such a bad thing? Besides, if I am right the monthly payments will be much less and when prices rise again the potential profits will be all of that much more.
BTW, Concept 1 - Best of luck to you.
Thanks man!!!!

[INSman]

Wow, why the insults?
I realize that my example is only a microscopic view of the market as a whole, but I think that it has some merit as to what the market is doing in general. The house is definitely the nicest on the block. It wouldn't have lasted a week on the market at $800K in '05. Unfortunately for them about three months ago a smaller fixer upper sold for $600K by the inheriting children that just wanted the cash.
I just read in today’s paper that foreclosures are at a 30 year high. That is only gonna make the market that much weaker in the future.
The secret to investing is to buy low and sell high...not the other way around. Even if I am wrong about the depreciation over the next year, there is little doubt that if there is any appreciation it will be marginal at best. So then, why is patience such a bad thing? Besides, if I am right the monthly payments will be much less and when prices rise again the potential profits will be all of that much more.
BTW, Concept 1 - Best of luck to you.
No insults, just creatively disagreeing with you and I understand the "secret" to investing. As mentioned by Concept1, he is looking for an affordable property that will not only yield him a tax advantage, but also help to offset some vacation accommodation expense and provide piece of mind that he is buying an appreciating asset. Very few of us are in the business of buying and selling real estate for a primary living, so most of us buy what we want, when we want it, when we can afford it. Sitting on the sidelines with some mythical crystal ball in search of "perfect" timing is just asinine in my opinion.

[Havasu1986]

I think investing is about buying low and selling high, but in htis case even if the market goes down it doesnt matter to me. The truth is that if I go to the lake once a month for 3 days the cost of a hotel will equal what my payment is. Im not just doing this for investment purposes, in my case the investment is going to an awesome lake to meet a bunch of awesome people and knowing that i have a place to stay each time, no checking in and out, no one across the wall complaining about noise, and knowing that my boat is safe next to my house. In that case it's a WISE investment! Everyone here has great opinions and I respect everyones the same. Since boating is becoming so important to me even if I never sell it off and pass it down to my future kids the value of the home at the time of purchase or sale really doesnt matter! All I know is that EVERYONE here is invited to come over and have 1 or many beers with us when we get settled in!
That is a great attitude C1. When I bought in 1986 I was in town for a buddies bachelor party. I was staying in a hotel and had called a realator before I got there, he called my room early sunday morning after being at Hussongs all nite. He showed me the property and we gave a offer of $6,500 for the lot. I built my 1st house for 39K. At the time I was just thinking of the savings of the storage of my boat,gas and hotels. Sold that house and have a bigger house. A good investment.

[Concept1]

Thanks H1986! Im just thinking that if it goes up in value thats a bonus but not a big deal. Im already hearing stories about how hard it is tofind a place to stay up there during big weekends. I know planning is a big part of that but sometimes I just pick my stuff up and go, no planning no nothing. There are the weekends that will be planned as well, im just not as good with those as the no plan ones!

[Concept1]

BTW Anyone have those land lease houses down there? I dont like the idea of not owning the lot where a house is built. Im almost set on 2 houses down there I hope I can get down there and see them this week!

[INSman]

BTW Anyone have those land lease houses down there? I dont like the idea of not owning the lot where a house is built. Im almost set on 2 houses down there I hope I can get down there and see them this week!
I would stay clear of the land lease properties... John and Michele will steer you in the right direction. :D

[Concept1]

I would stay clear of the land lease properties... John and Michele will steer you in the right direction. :D
O.K. I figured that but I thought I would at least ask. Geez leasing the land and putting a 200K+ house on it, that means you never really own it. Doesnt make sense to me at all.

[phebus]

There is more in life then financial investments.
Invest in family, sanity and friendship. You wont get rich financiallly, but the rewards you reap, you will cherish forever.

[INSman]

There is more in life then financial investments.
Invest in family, sanity and friendship. You wont get rich financiallly, but the rewards you reap, you will cherish forever.
Spoken like a true fountain of wisdom :D

[BigDoug]

Check out Rick being all sensitive and chit :D

[djunkie]

This is how it starts.....the visious cycle of driving back and forth, drive out to get destressed in your Havasu home drive back to get all stressed up again just to have to drive out to get destressed again...been there done that.... just figure out how to make the full time move and forget the middle man:D
Doesn't happen to me. :D

[djunkie]

I think when they say that renting out pays the mortgage that they mean that it pays it for those months that it is rented out. Basically they don't use it in the winter so let somebody else move in and pay for it.
Thats how it is in our case. We rent for 4 months and the rent covers everything for those months only.

[Concept1]

Yea in the winter time it seems cool to find some people to stay there just to offset the cost, Im sure we can make some money on it but its not the whole goal.

[SHOTKALLIN]

Some people are replying about having strangers in their house using renters. There different ways to rent in Havi. (1) Rent thru a agency and get strangers. (2) Rent to only people you know and trust. (3) This is what I do rent to snowbirds in the winter only. These are older people who are just getting out of the cold states where they live. I have never had a problem in 20 years. My current single guy in his late 60's has been renting from me for 8 years now. I admit that the winters are becoming more fun now with the growth, better shopping,restaraunts and off roading etc. But back then Havi wasn't the same in the winter..BORING. And the snowbirds pay 3/4 of my mortgage.
U HEARD OF VIAGRA? So he's only bangin blue hairs in your bed.:D

[Mr.Havasu]

Concept1, you have a great additude. we go into all of our investments with our eyes wide open. If the value dips a little in the future we are secure in the knowledge that we are still into the investment at the original buy in. ie: our payments are what we expected, and we are getting the anticipated benifit from owning it that we expected-either by rental income or personal use. Now is a great time to buy, prices are good, inventory is good and the buyer's are starting to come back into town thinking about next spring, so the good deals are selling.

[Havasu1986]

U HEARD OF VIAGRA? So he's only bangin blue hairs in your bed.:D
He stays in 1 of the spare bedrooms. Not in ours, and if he's getting some action at his age..more power to him.:D