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JustaGirl
01-22-2003, 08:09 AM
What is your opinion of buying Real Estate in Lake Havasu in this current market?
2 years ago we wanted to find a place we could rent out to snowbirds and then use in the summer for ourselves but felt at the time it would be stretching our finances too thin. Now I am starting to look seriously and notice that prices have apprciated more than I thought they would.
Should I look for a Townhouse/Condo closer to the water or a single family house with RV storage further away from the lake?
Thanks!!!

HavasuDreamin'
01-22-2003, 08:12 AM
I think something with RV storage would appeal to snowbirds more. However, I think you buy what you want and worry about the snowbirds later.
Good Luck

hot_diggity_dog
01-22-2003, 08:25 AM
Most of the condos are way over priced due to location. The Queens Bay condo's started in the 60-80k range about ten years ago and now are selling in the 120-150k for the two bedroom. Lots have gone way up since then as well. The city will not open more land to build on after the remaining lots are sold. It's over 75% built out currently.
They are even considering a master planned community just outside of Havasu before you get to needles.
In other words buy now before it goes up even more and you will be laughing in about five years on how much more it has gone up and how there are no more lot's to build on.
Just my .02 based on what I've seen in the last ten years out there.
HDD :cool:

HavasuDreamin'
01-22-2003, 08:37 AM
It is strange..........because in about 1997 (last time I looked) you could have all the 3 BR, 2 BTH, 1800sq.ft. homes you wanted with boat deep garage for $100K - $125K.
I guess it is that much more popular now!

hot_diggity_dog
01-22-2003, 10:32 AM
It is strange..........because in about 1997 (last time I looked) you could have all the 3 BR, 2 BTH, 1800sq.ft. homes you wanted with boat deep garage for $100K - $125K.
I was only referring to the waterfront condo prices, houses can still be built for around those numbers.
The new waterfront condos on the Island are going for way more than that and they might be sold out. Nothing like being on the water.
HDD

bigq
01-22-2003, 11:46 AM
I would look into finding a lot for sale and build the house you want.I just purchased two lots last week up there with the intention of building on them. If you take some time you can still find a good lot for a decent price, you just need to be quick on the decision when a good deal comes up. I would contact a good agent out there so they can keep an eye out for you.

JustaGirl
01-22-2003, 12:49 PM
bigq:
I would look into finding a lot for sale and build the house you want.I just purchased two lots last week up there with the intention of building on them. If you take some time you can still find a good lot for a decent price, you just need to be quick on the decision when a good deal comes up. I would contact a good agent out there so they can keep an eye out for you. Finding a lot and building a home is something I have thought about, however I think we would rather look a little longer and try to find an existing home that has a vacant lot next door.
Is it a waste of time to go drive around some areas and look for 4sale signs ? or should I contact an agent (we don't know any) and have them do the leg work for me ? We have our $$ ready to go so now it is a matter of finding what we want.

mbrown2
01-22-2003, 12:59 PM
I would contact an agent and provide them what you are looking for (your requirements)...Driving around, you will only see 30% of what is on the market and that market is moving quick. We drove around for 6 hours two weeks ago and saw a lot of places, but it was only 30% of what is listed in the MLS listings. An agent will try and find you what you are looking for, and a good one should be working for you while you are not there.
Another thought if a house is a stretch right now is do try and hook up with a builder on a model they are building. I hooked up with a builder a couple of weeks ago, where I buy the house and they pay me 10% a year to lease it back from me as the model...A great deal since you can turn it for a profit (highly upgraded model) in 2 to 3 years...I am not going that direction since I did not like the location of the model, so it would be purely investment that I would need to turn in 2 to 3 years. I don't want to be looking for a lot in 2 to 3 years.
My long range goal in to buy the perfect lot now and build a retirement home in 5-10 years..I still like going to the Parker place and will always keep it, but we want to retire in Havasu. With the way lots are moving in Havasu, nothing spectacular will be left in 2-3 years. They will all be odd shaped or further out of town.
Just my .02
[ January 22, 2003, 01:01 PM: Message edited by: mbrown2 ]

riverracerx
01-22-2003, 01:17 PM
I will be selling my condo in a few months for about 70K.
It is 1 mile from the Bridge. About 1000sqft. 2+1 1/2. Great location, quiet. No garage, just a carport and laundry closet.
If you are interested.. email me
admin@riverracerx.com

Jetboatguru
01-22-2003, 01:19 PM
Justagirl check your PMs :D

JustaGirl
01-22-2003, 01:26 PM
Jetboatguru:
Justagirl check your PMs :D Just checked, wink 2 weeks to go :D

hot_diggity_dog
01-22-2003, 01:38 PM
Originally posted by Jetboatguru:
Justagirl check your PMs
Just checked, 2 weeks to go Now thats a good come back LOL:D
HDD :cool:

bigq
01-22-2003, 01:45 PM
JustaGirl:
bigq:
I would look into finding a lot for sale and build the house you want.I just purchased two lots last week up there with the intention of building on them. If you take some time you can still find a good lot for a decent price, you just need to be quick on the decision when a good deal comes up. I would contact a good agent out there so they can keep an eye out for you. Finding a lot and building a home is something I have thought about, however I think we would rather look a little longer and try to find an existing home that has a vacant lot next door.
Is it a waste of time to go drive around some areas and look for 4sale signs ? or should I contact an agent (we don't know any) and have them do the leg work for me ? We have our $$ ready to go so now it is a matter of finding what we want. You can try out this site.When you get there sign up for the insider alert and you can have access to all the new lots and houses going on the market that week. Mbrown2 has a good idea with the spec home, you just need to wait till there done to move into it. I would absolutly use an agent to help you find a propety. Sometimes if the agent is good you can get a heads up on a great deal before it is posted for the world to see.
Good luck
[ January 22, 2003, 01:49 PM: Message edited by: bigq ]

bigq
01-22-2003, 01:47 PM
crap, what an idiot. I forgot the website link.
here ya go (http://www.brentandmichele.com/)

TrojanDan
01-22-2003, 01:57 PM
bigq
[I would absolutly use an agent to help you find a propety.
[/QB]I highly disagree. If you want a great deal, do the leg work yourself. Find an empty lot (or lots) in the location you desire even though it is not listed for sale. Do a property search to find the legal owner (public record) and write them a handwritten letter asking if they are willing to sell.
I did this last year in Feb and got a response on the first letter I wrote (also paid about $6k below market value at the time). It helps since the property owner didn't have to pay commission.
Just food for thought. If you go through an agent and they find a killer deal, how many others have they informed? Or how come they didn't buy it themselves and then turn it for more $$?
Some builders are also RE agents. Try using them since they sell homes that they build, they can be more flexible with pricing/reduced commission.
Good luck :)

mbrown2
01-22-2003, 02:41 PM
JustaGirl:
What is your opinion of buying Real Estate in Lake Havasu in this current market?
Thanks!!! You don't happen to have a Mastercraft? I just saw San Clemente, and thought I would ask..

bigq
01-22-2003, 03:07 PM
TrojanDan:
bigq
[I would absolutly use an agent to help you find a propety.
I highly disagree. If you want a great deal, do the leg work yourself. Find an empty lot (or lots) in the location you desire even though it is not listed for sale. Do a property search to find the legal owner (public record) and write them a handwritten letter asking if they are willing to sell.
I did this last year in Feb and got a response on the first letter I wrote (also paid about $6k below market value at the time). It helps since the property owner didn't have to pay commission.
Just food for thought. If you go through an agent and they find a killer deal, how many others have they informed? Or how come they didn't buy it themselves and then turn it for more $$?
Some builders are also RE agents. Try using them since they sell homes that they build, they can be more flexible with pricing/reduced commission.
Good luck :) [/QB]Good point, I went through five different agents before I found one I felt would help me out. I think you could find one agent out there that you could benefit from.I would agree you could get a better price your way due to not having to pay a commission, although some might still want the highest market value.My situation turned out quit well, even with an agent, but you got me beat, I paid only 4k below market value.

mbrown2
01-22-2003, 03:15 PM
TrojanDan:
bigq
[I would absolutly use an agent to help you find a propety.
I highly disagree. [/QB]I would agree, your deal worked for you, but if I were an owner and not in the market to sale and someone came to me asking to sell, I would only sell above Market value. I have tried contacting owners of land near Parker (unlisted) and get no return correspondance and have seen the other side of coin. I work for a Mortgage company that has offices in LHC, so I asked for names of good agents from that office. It all depends on the agent and how much/good they are doing for you. If I lived in Havasu, I would not be using an agent, but since I only have weekends to do this, I think the cost of using a good agent is a good investment.

TrojanDan
01-22-2003, 03:37 PM
bigq
I paid only 4k below market value. [/QB]Maybe I was just lucky. I too only had weekends to spend in Havasu. The property I looked at was 2 lots down from my buddy's dads. It turned out that the guy I bought it from paid $2500 back in '88. He's now an attorney in his mid 30's with a young family and didn't see himself spending anytime at the river soon. He offered $17,500 and I did my best not to yell "SOLD". The smaller lot adjacent to me sold 2.5 months later for $32.5K!
Point being, the guy saw a $15k profit and didn't want to hassle with agents. I'm sure they're plenty more property owners out there that bought over a decade ago and don't realize what they have and how much it's worth. Property taxes on vacant land isn't too high and usually is a few years behind. So some out of state property owners don't realize that their land is actually worth more than it is tax assessed.
Another note to think about, make sure your agent drives by the houses/lots before he gives you the listing. It will save 6 hours (as someone previously stated) from driving around and looking at crap.

FireMD
01-22-2003, 08:06 PM
We just bought a lot and had had a house built. It should be done April 1st. We had many problems with time lines between our RE agent and the builder but finally I went straight to the builder with the expiring contract and we got results. Upgrades, money, storage fee's paid, ect. We really ended up better than before and still before summer. Good investment but do your homework on RE agents and builders. We have seen our money make money in less than a year and it will only get better. Good luck and email me if you want insider info. Nick

Skaterfast
01-22-2003, 08:59 PM
Went to Mculough realty looked up homes for 100k.Found 4 and looked at all four and laughed.Went to Joshua Development and looked at the smallest model.A 1043 sq. ft home with a 28 ft deep garage.Looked at 6 lots that Joshua had.Found one in a culdesack with a small view of the lake.They are now building my 2 bedroom 1 3/4 bath house for around 105k.So far I have only delt with John at Joshua Development and he is a hard head who is not easy to deal with when it comes to making small changes to the house.Get all of your requests like 8 ft garage doors at the begining.Email me if you want 1st hand experience.

TCHB
01-22-2003, 10:08 PM
Listen
Lots are going up weekly.
View lots are hard to come by today.
When building a house add 25% for fencing, landscaping, lights, and the list goes on and on.
The most important thing you can do is buy location and view. Buy in a cheap neighborhood and you know the story.

Duck
01-22-2003, 10:12 PM
Finding a nice place that is newer (better insulation, upgrades, etc) and has enough garage to keep your toy can be tricky, as they have only started building the 3 car really deep garaged homes in the last few years. Go for the largest garage you can handle. Neat perks are swamper in house/garage, rv parking, gas, reverse osmosis, & tile roof (cooler). We happen to own the lot next door because we wanted the space. Don't know how many of these could be left. Renting to snowbirds can bring 1K a month to a well equipped home, I hear. We love it out there all year.
Ask about what sewer zone you would be in as the septic tank will be done in and any landscaping. Depending on the zone this could be 2-15 years. Not looking forward to moving my cactus from the front yard. I think a half nice place will now cost 150K. You should be able to find something to look at in the White Sheet and Selman freebies each week, plus get an agent. Sunset builders (friends) are building 50' boat deep garages and nice sq ft homes at a good price fyi. The comment that you agent be prepared is critical if your in town just for a day or two. Our first one was totally unprepared after a two week notice and we only ended up seeing about 10 lots in my one day there. Oh yea, the days of the 15K lot.
Best of luck, (we can't wait to move full time.)

FireMD
01-23-2003, 07:07 PM
If anyone is an RE agent reading this and wants to sell some lots email me. My Mother in Law decided today she at least wants to buy 1 lot and maybe 2 or 3. She can back it up, so anyone interested please call.

locogringo
01-23-2003, 10:02 PM
if you need a mortgage broker, feel free to call my wife. She does lending in Arizona also.
Check around for rates, then call her. She will 99% of the time beat their rates.
If interested, PM me and I will give you her number.
Daniel

Sandbar Mike
01-24-2003, 07:26 AM
Don't wast any time.
[ January 24, 2003, 07:31 AM: Message edited by: Sandbar Mike ]

Sandbar Mike
01-24-2003, 07:30 AM
Sandbar Mike:
We just bought a house (W/Inlaws)
New Home, Builder had built it an was sitting on it. 1900sqr ft, 3 car garage w/44ft deep boat bay.
Beautiful house ,I think we got lucky
160,000
Last year we were close to pulling the trigger but hesitated, since then pricing rose up about 50% on dirt, and about 20% to 30% on housing. Ack fast if your looking. We are a 1/2 mile up from hwy95 by the south side Terrible Herbst Gas Station. We Hed out about once a month until Summer :D :D
Come on summer
wink Good Luck
[ January 24, 2003, 07:32 AM: Message edited by: Sandbar Mike ]

THOR
01-24-2003, 07:31 AM
Sandbar Mike:
Sandbar Mike:
We just bought a house (W/Inlaws)
New Home, Builder had built it an was sitting on it. 1900sqr ft, 3 car garage w/44ft deep boat bay.
Beautiful house ,I think we got lucky
Last year we were close to pulling the trigger but hesitated, since then pricing rose up about 50% on dirt, and about 20% to 30% on housing. Ack fast if your looking. We are a 1/2 mile up from hwy95 by the south side Terrible Herbst Gas Station. We Hed out about once a month until Summer :D :D
Come on summer
wink Good Luck That is so cool. Nice!! :cool:

Sandbar Mike
01-24-2003, 07:33 AM
Thanks Thor we're very excited,
I've had to edit my post 3 times, time to wake up. :D :D