New Parker House Poll

[Community]

So I have these two lots up on Rio Vista in Parker. Not on the water, but only 3-5 minutes to the nearest ramp. I am trying to decide to build 2 smaller homes 1200-1300 sqft with 25 ft garages or one 2000 sqft with RV garage and 2, 30 foot deep, 2 car wide garages - something that either a car collector or someone with a lot fo toys would appreciate. The smaller houses would need to sell in the 350 range to make it worth doing and the big house would need to sell for 550 or so.
If you were looking in Parker, what would you prefer?

[voodoomedman]

Even though some peeps like to take their ocean barges on the strip most people take smaller boats. Maybe see if you can stretch the length of the garages on the two to 30 feet or something to expand the market and go with that. It seems you would make more money. Use one yourself and rent the other. Use one and sell the other to pay for the other. Also depends on how long you want to keep them. For a long term investment two house are better even though individually they would sell for less. You already own the land so let's talk houses. Let's say it cost you 150k a house to build the two and in ten years they are worth 1 mil. Not figuring the loans or anything you have a 1.7 mil profit. Now just build one bigger one at a cost of 200k and in ten years it is worth 1.5 mil you only have a profit of 1.3 mil.

[mondorally]

So I have these two lots up on Rio Vista in Parker. Not on the water, but only 3-5 minutes to the nearest ramp. I am trying to decide to build 2 smaller homes 1200-1300 sqft with 25 ft garages or one 2000 sqft with RV garage and 2, 30 foot deep, 2 car wide garages - something that either a car collector or someone with a lot fo toys would appreciate. The smaller houses would need to sell in the 350 range to make it worth doing and the big house would need to sell for 550 or so.
If you were looking in Parker, what would you prefer?
What about option #3 for us single guys with too many toys - A two story - bottom floor all garage, top floor one big loft:D !
In all honesty I would say the two smaller homes would make more sense but a lot of boats these days require at least 30' of garage. Is it possible to get the garages larger?
-Justin

[Boatcop]

I doubt you'd get anywhere close to either of those prices for homes up in that area. At least not right now.

[Mrs. Bordsmnj]

Seems kind of pricey to me. :confused:

[Cole Trickle]

Hold off.....
Your about 75-150K over current home prices.:)

[Community]

I think the most recent comp was 280K up there. I think the driveway was a bit of an issue too. I would like to know what the neighbors place is worth. Its a beautiful home. I have considered the two smaller ones and renting them, at a loss, until the value catches up to where it makes sense to sell. Seems like I must have overpaid for the lots based on everyone's responses so far. Lets hope BoatCop should stick to his Police Work :).

[Tequila-John]

I think the most recent comp was 280K up there. I think the driveway was a bit of an issue too. I would like to know what the neighbors place is worth. Its a beautiful home. I have considered the two smaller ones and renting them, at a loss, until the value catches up to where it makes sense to sell. Seems like I must have overpaid for the lots based on everyone's responses so far. Lets hope BoatCop should stick to his Police Work :).
Damn bud. If you want a place in Parker buy my Condo! its already rented too

[Community]

Well, I just sold my condo to start working on this project - so I will pass on that.
The land is just sitting there. I would rather rent out 2 houses and take the loss, I can pay the bank or the IRS, than just sit on the vacant land.
We will see. The contractor is pushing for the bigger home, which surprises me as it will be less money for him than the total to build the 2?

[Boatcop]

If I was in your situation, with 2 lots, and a plan to combine them into one at a later date, I'd throw a couple of manufactured homes on them, and rent them out for a few years. You can probably bring in 500 or so a month, each.
The property values will do nothing but increase up there, and at the present time, quality rentals in this area are few and far between.
It's only a matter of time before all those lots with 30-50 year old trailers on them are bought up and improved with new builds. That will only bring up property values. It's hard to pry some of those places away from their slumlord owners, but the market will eventually price them out, and make selling more attractive than a paltry $300 - $350 a month.
Several years ago, my folks sold a singlewide on a narrow lot for around $19,000. Bare lots up there are now going for around $50-$60 Gs.
I remember when Miraleste Shores was just like the Lakesides, with $hit-hole trailers and tweaker rentals. Someone with some insight bought up all the lots, and now lots are going for nearly $500,000 and homes (off the water) are in the mid $800s.
I look for pretty much the same thing happening up in the Lakesides within the next 5-7 years. Although you wont see mid $800s up there, your goal of 350-550 might be realized.
By putting some relatively inexpensive MHs on them, you can wait out the market while the property works for you. And then when it's time, yank off the mobiles and build what you want.

[voodoomedman]

Well, I just sold my condo to start working on this project - so I will pass on that.
The land is just sitting there. I would rather rent out 2 houses and take the loss, I can pay the bank or the IRS, than just sit on the vacant land.
We will see. The contractor is pushing for the bigger home, which surprises me as it will be less money for him than the total to build the 2?
Sounds lazy and wants the easy job and profit. He will charge a premium for the extra sq ft and rv garage and such and make almost as much as if he built two houses and made less profit on each. Would you want to do twice the work to make an extra 10%?

[Community]

I looked at mobiles down at triple dj and the one accross the way. Seemed to me, by the time they were setup looking good it was more money than doing a stick built in-place. Not sure how financing works either, but I would imagine since its mobile, its different. I like to do things nice, which may backfire on me, but I just am not into the idea of a mobile. Besides, with the houses around me up there I would be doing the majority of the neighbors a disservice.
Not sure if he is lazy or what is margins are. If I were closer, i would do owner builder and save his margin for myself. I used this gy before and the house is delivered turn-key.

[Wheeler]

Seems like I must have overpaid for the lots based on everyone's responses so far. Police Work :).
I over paid on all my property, then again time was on my side and when I sold I was not greedy and moved them out the door. I read (guessed) the market and made out really well. Before I built a new house, I would wait for the contractors to get real hungry.
Ps.
There is a new house going up in Marina Village and these guy's are wasting no time, I suggest you go and talk to this builder and the homeowner.

[Tyson Ross]

Community,
I was friends with the peeps that sold the home with steep driveway. You are right on the selling price and I don't think you could get a boat in that garage due to steep driveway. A local bought the property, non-boater. The owners were renting the house for 1100.00/ month prior to the sell.
I am across the street from you so 2 new houses or 1 large home sounds great to me. Boatcop, be quiet. I do not want anymore MFH in area if at all possible! :mad: :D The home that sold for 280,000 also had no backyard, just a small side yard.
Tyson

[Community]

Tyson,
You live out there f/t? I am coming out Monday - Tueday - will be up there Tuesday am at some point. Come out and say hello.
Gary

[OverKill]

Isn't Rio Vista Rd. in Big River/California side??

[riverbound]

We overpaid for our MH in Parker too. We had the plans of demoing the MH and doing a stick built.......20 yrs later. we just completed a remodel on the MH and are up quite a bit on our "I cant believe you paid that for that" piece of land.;)
http://i26.photobucket.com/albums/c146/Riverbound/Stokerheaven.jpg

[ColeTR2]

I am across the street from you
Are you guys talking about the three newer homes on the right at the top of Rio Vista? Tyson is your place the two story house with all the nice stone work around it?
http://www.***boat.com/forums/attachment.php?attachmentid=36335&stc=1&d=1186175058

[Parker Dreamin]

I remember when Miraleste Shores was just like the Lakesides, with $hit-hole trailers and tweaker rentals. Someone with some insight bought up all the lots,
Oh Mr. Hale........

[Tyson Ross]

We are past those homes. We're up and around the two water towers in the newer development area, below the acre lots. Just a bit more east then the map shows.
Gary,
I will keep an eye out for ya next Tuesday.

[ColeTR2]

We are past those homes. We're up and around the two water towers in the newer development area, below the acre lots. Just a bit more east then the map shows.
Gary,
I will keep an eye out for ya next Tuesday.
Cool. I just build the Santa Fe house at the end of Crowsnest. It's 1250 sq. feet on three lots it just appraised for 350 the new house on the point 1600 sq. feet sold for 475.

[Community]

It looks like we are going to do 2 homes. Setting up funding now and should start building soon. Will post floorplans and elevations as soon as I can. If you know anyone looking to buy or rent in the area let me know. The garages will be 30 feet deep BTW.
Thanks.

[voodoomedman]

It looks like we are going to do 2 homes. Setting up funding now and should start building soon. Will post floorplans and elevations as soon as I can. If you know anyone looking to buy or rent in the area let me know. The garages will be 30 feet deep BTW.
Thanks.
Do I get a consultation fee? :D
Congratulations. Even if you don't make a killing right off the bat, imagine how much you will make in the long term if you sell in let's say 20 years or something.

[Community]

Yes, check is in the mail!
RE: Return - My father-in-law inherited a house down the street from me. His father paid cash for it in the 1940's. No substantial updates in the last 60+ years. Based on market value, the return, not counting it was free, has only been about 7% not including the rental income just looking at appreciation. Historically, I think the stock market, DJIA, has returned 12%?

[ChumpChange]

What's going to be your return on actually building on the land? I've seen a couple investments lately where the developer would have made more profit and saved a lot of time by just selling vacant land. In the end, he still made a profit on the sale but went through a lot of time and heart ache to actually lose equity.

[voodoomedman]

Yes, check is in the mail!
RE: Return - My father-in-law inherited a house down the street from me. His father paid cash for it in the 1940's. No substantial updates in the last 60+ years. Based on market value, the return, not counting it was free, has only been about 7% not including the rental income just looking at appreciation. Historically, I think the stock market, DJIA, has returned 12%?
Well each situation is different but only 7% over 60 years. Something doesn't sound right. I bought my first house in 2001 and sold in 2005 for 2 and a half times what I bought it for. Granted I had great timing but the 1940's was waaaaaaaay before 2001.

[NoWorries]

Okay so far everybody sounds about right however at the end of the day it all comes down to your comfort level. If you do not have to build right now, don't. Yes, builders are a little slow right now and might give you a deal on building however you are still going to be over priced for the area and market. Often times you can get a good return just on vacant land, even if you take a little less return you are saving yourself an huge headache with not building. If you really want to build something because you do not want the land to sit there vacant I would suggest putting some garages on the land and just rent out the storage space. I know you can find big temporary sturctures which would house a few boats and you could easy get $200 a month per boat down there, because I know a few people are getting $225 plus up here in Havasu.

[SummitKarl]

It looks like we are going to do 2 homes. Setting up funding now and should start building soon. Will post floorplans and elevations as soon as I can. If you know anyone looking to buy or rent in the area let me know. The garages will be 30 feet deep BTW.
Thanks.
may I;)
oh and the garages are 34' deep:D

[Cole Trickle]

may I;)
oh and the garages are 34' deep:D
Smart.....I was thinking 35' would be much better than 30'.:)

[SummitKarl]

Smart.....I was thinking 35' would be much better than 30'.:)
they should hold (2) 28' boats side by side at 20' x 34'

[skyskier]

So I have these two lots up on Rio Vista in Parker. Not on the water, but only 3-5 minutes to the nearest ramp. I am trying to decide to build 2 smaller homes 1200-1300 sqft with 25 ft garages or one 2000 sqft with RV garage and 2, 30 foot deep, 2 car wide garages - something that either a car collector or someone with a lot fo toys would appreciate. The smaller houses would need to sell in the 350 range to make it worth doing and the big house would need to sell for 550 or so.
If you were looking in Parker, what would you prefer?
The 1st thing I'd do BEFORE talking to ANY Parker contractors is take the California plates off my car! There is a miscoceived perception in Parker that "ALL Californians are stupid". If you're dealing with Marsha at triple DJ, READ ALL the contract, 4 times, then have a lawyer go over it. If you have two lots side by side and you eventually want to "marry" the two together, you can only have ONE dwelling on the one lot , PERIOD!! I bought two lots up in Lakeside, together they are over quarter of an acre. My original plan was to build a HUGE boat barn between the two, but after giving up the three foot easement on EACH side of the property line, I'd have been left with a six foot wide by 130 foot deep, empty easement. I've got a neighbor up the street that tried to squeeze a 3 BR 2 bath, carport/SMALL garage on a single lot. He's had it up for sale now going on two years, $159K..... NO takers thus far. I don't think there are ANY residents or soon to be residents of Parker that could come up with $350K for a house. IMO you'd be WAY ahead to build the one BIG house with the BIG boat barn and more likely, for resale purposes, to turn it to a boater type person. I bought a 16 x 72, 3 br 2 bath from Triple DJ, slid it in on the extreme left side of the property, built my barn AFTER I moved the fence( hint: I moved the fence BEFORE the building inspector showed up) between the 2 properties over 35 feet, and rented out the 2nd one at $600 a month. Not a lot of money but I did get my 30 x 40 boat barn in. Someday the kid's are gonna have to do the lot line adjustment, but NOT in my lifetime.
I penciled it out and found it less money buying the trailer and having a metal barn installed. And above all, DO NOT pay ANY upfront money............the crew will cash your check and be onto another "job" before you cross the bridge!! I spent MORE time there when I was building the place, waiting for these yeah-hoo's to show up , than what it would have taken me & my 2 son inlaws to do the project. The "locals" think California is in another country? You have got to stay on the jobsite and pay when the job is completed.

[BLOWN HOWARD]

350k inlaws paid that for river front property

[Community]

Karl - sorry, I always post the wrong info. The houses look great and when we are ready, hopefully you can help me post the footprints and elevations. Thanks for the update!

[Community]

BLOWN HOWARD 350k inlaws paid that for river front property
Let me know if things don't work out with your wife.. j/k...I was not that lucky - no access to a river pad via marriage!

[SummitKarl]

Karl - sorry, I always post the wrong info. The houses look great and when we are ready, hopefully you can help me post the footprints and elevations. Thanks for the update!
I am ready......just finished the site plans today..off to septic approval in the AM....all I have to do is hit the print button...:D
http://www.***boat.com/image_center/data/500/10823_RIO_VISTA_COURT_flrpln.jpg
http://www.***boat.com/image_center/data/500/10823_RIO_VISTA_COURT_elv.jpg

[BLOWN HOWARD]

BLOWN HOWARD 350k inlaws paid that for river front property
Let me know if things don't work out with your wife.. j/k...I was not that lucky - no access to a river pad via marriage!
Yeah she is a keeper for sure. THey just got done with the 45x25 covered parking out back. And it makes it nice that the neighbors just built a 9000 sq ft house next door.

[Community]

Sounds like a good setup. My dream is to own water-front in the keys. I like the idea of the 5 mph for many reasons, kids, wakes etc..............someday.

[MRS FLYIN VEE]

Sounds like a good setup. My dream is to own water-front in the keys. I like the idea of the 5 mph for many reasons, kids, wakes etc..............someday.
it is posted no wake.. But you still need to watch them.. You get some crazy a$$ people haulin a$$ thru there for sure..:)

[Community]

Your new pad in the keys is looking nice. Saw the pool and they poured part of your foundation the day I was out there.

[MRS FLYIN VEE]

Your new pad in the keys is looking nice. Saw the pool and they poured part of your foundation the day I was out there.
Cool.. I can't wait to see it.. I haven't seen it since the pad was poured.. but BC has been keeping me up to date.:D

[BLOWN HOWARD]

Hey Mrs Vee were is your new place at in the keys???

[MRS FLYIN VEE]

Hey Mrs Vee were is your new place at in the keys???
It is the one going up right now just across from circle K.. :D

[BLOWN HOWARD]

It is the one going up right now just across from circle K.. :D
That was my guess was out there for a week and watched them do some framing that week. Atleast you dont have to walk far for some beer.

[MRS FLYIN VEE]

That was my guess was out there for a week and watched them do some framing that week. Atleast you dont have to walk far for some beer.
LOL!! we can stumble through the check point.. :D :D :D

[NoWorries]

Mrs Flyin Vee I caught that and am still LMAO!:D

[MRS FLYIN VEE]

Mrs Flyin Vee I caught that and am still LMAO!:D
LOL!! :D :D :D

[Hal]

Here is something to think about. Right down at the end of your street (3 blocks) is about 40 acres that has all the grading work completed and plans approved for approximately 160 homes. From what I understand who ever did all the upgrading to the property was going to follow through and build the homes until the market took a turn last year. So he sold the land at a very nice profit. Now you have a large developer out of Riverside that is just waiting for the right time and he's going to build those homes that you will have to compete with. I think the prime 1/4 acre lots(early last year) on that land were going for about $80 to $90,000.00 at the time. I am sure that figure has dropped since then. I think the lots where you are at were $50,000.00 each 4 years ago. I know they went up since then.
The lot at the end of Fenton Rd with the pond was just on the market for $135,000.00. Somebody bought it and now you can own it for $269,000.00. Go figure...
Anyhow I am right down the street, if I can be of any service let me know. Hal

[SummitKarl]

Here is something to think about. Right down at the end of your street (3 blocks) is about 40 acres that has all the grading work completed and plans approved for approximately 160 homes. From what I understand who ever did all the upgrading to the property was going to follow through and build the homes until the market took a turn last year. So he sold the land at a very nice profit. Now you have a large developer out of Riverside that is just waiting for the right time and he's going to build those homes that you will have to compete with. I think the prime 1/4 acre lots(early last year) on that land were going for about $80 to $90,000.00 at the time. I am sure that figure has dropped since then. I think the lots where you are at were $50,000.00 each 4 years ago. I know they went up since then.
The lot at the end of Fenton Rd with the pond was just on the market for $135,000.00. Somebody bought it and now you can own it for $269,000.00. Go figure...
Anyhow I am right down the street, if I can be of any service let me know. Hal
we(Summit Homes) built one about a year ago now on Fenton (10717) the southwest style home at the top of the hill...that whole area does look as it's ready to grow, mix of newer and older homes...seems to be a nice quiet valley area. (small streets) is the give away that it will stay quiet...I think Gary's new homes should fit right into the neighbor hood.

[Tyson Ross]

I don't think there is going to be anything going in where the 40 acres of graded dirt is until the county puts a sewer in place for the area..... years down the road most likely from what I have heard.
Summit,
That Santa Fe style home came out sweet by the way.

[Hal]

Karl you are right about the neighborhood being quiet even if the track goes in, there is just not going to be any through traffic being that all the property up there is surrounded by BLM land.
The Santa Fe home is sweet, but I am thinking who ever lives there is not going to be putting a boat in that garage very easy. Maybe somewhere behind the house?
Who ever did the design on that house might want to think about the accessibility to the air conditioning air handler in the attic on their next project. Its pretty hard to get to when its right over a bathroom with no attic space around it. That air handler should have been installed vertically in a closet or even better the garage for proper access. Some how you people need take into consideration that its going to need service at some time and it would sure be nice if the A/C tech could have good access to the unit to work on it or some day replace it. I think they will have to cut through the roof to replace that A/H when that time comes.( This is coming from a retired A/C tech) Very bad design , same as Clayton did with the houses up the street.

[Community]

I think the homes will come out real nice. They won't be too big or too small, they will have a good size garage for Parker/Havasu boats and somehow we will get the pricing to be right for a potential renter or buyer.

[mbrown2]

LOL!! we can stumble through the check point.. :D :D :D
That's funny....good luck on the build! :)

[Community]

Should be breaking ground soon and if so will be ready for 4th of July barring crazy rains....