Bad time to buy a river house?

[victorfb]

Just wanted to hear some opinions on buying a river house right now. i know its a "sellers" market, but im not so sure the prices will come down much either. they havnt in the past. they are just going up faster now. im looking in the needles area. cant afford water front, but something close would be nice.

[TheLurker]

Try looking at that Marina Coves Directly across the river from Needles. Seems like it is still a good value and they are in the process of putting in their own launch ramp.
Also I dont know him but I thought I saw a post where Charley was selling a house in Tangerine terrace???

[victorfb]

thanks. ill definatly look there. not sure who charley is nor the tangerine terrace area, but look into that aswell. thanks again. good info.:D

[TheLurker]

Originally posted by victorfb
thanks. ill definatly look there. not sure who charley is nor the tangerine terrace area, but look into that aswell. thanks again. good info.:D
Go to the Cats & Tunnels section and look near the bottom of the page and look for the thread starter "Charley - River home for sale"
http://www.***boat.com/forums/showthread.php?s=&threadid=41733
P.S. Marina Coves used to have a web sight and I think the prices were low 200's to mid 300's

[victorfb]

oh ok, now im feeling stupid as useuall. i had talked to charley allready about his place and we will be checking it and the area out next weekend. thanks for the help.

[TheLurker]

From the pics it is a nice looking pad. Hope you find something you like. We might end up being neighbors.

[Danhercules]

Now is a bad time to buy cause of the prices, the interest rates are killer. If the prices have not gone down, that means they will only go up. So, if rates are good, and the prices are gonna go up, duh, BUY!!!;)

[roostwear]

I found out a few things while researching my place. Yes, there is a seasonal rise in RE prices (that's why I was looking in Nov/Dec). Think of it like buying a boat. Buy it in the off season for the best price. That said, the DIFFERENCE between RE and a boat is that if you've done your homework, the RE will appreciate, whereas a boat seldom does. You can still find a good deal if you have a good agent, and you think outside the box. Long term, a good investment is still a good investment. It all depends on when you jump in as to how much $$$ you make.
One thing is for sure. If you DON'T jump in, you won't make ANYTHING. The big bennie is that you can hang at the river while it appreciates. Aint THAT a bummer!:D

[victorfb]

im with roostwear. we are definatly looking long term and not just into it for the profit. we want a river home that we can enjoy for many many years. i remember 15 years ago people saying the same thing about prices, interest rates, the whole deal. the only thing is that the prices were WAYYYYYYY lower. if only i was able to buy then. even if i would have gotten a terrible deal, id still be way ahead now. but then again, whats the point? we want to keep it and enjoy it. i say as long as you can afford it and like it, buy it. who cares if the guy down the way got his for less. you still have one, and thats the beauty of it all.
p.s. thanks mike for hooking us up with Debbie. we will be meeting with her this weekend. she is putting together a little package to help us with our searching. and of course im sure she will do a bit of searching herself.

[surfer2001]

Buy deeded land & build, if you want to save $ & get exactly what you want.
My place is 3/4 mile down from Parker Dam. The deeded land down there is almost gone NOW. Hurry
http://www.***boat.com/image_center/data/520/1498RiverHouse_1-med.JPG

[Boater Bill]

Vic, the BHC/Mohave Valley area is really jumping now. Not as bad as the SoCal market at the moment but it ain't getting any cheaper. We started looking out there Nov last year. The diff between then and now is considerable, both in whats avail and prices. We close next Thursday.:D

[TCHB]

The prices may slow down but in the long run real estate close to California has always been a good investment. I was on the Parker Strip for 14 year and now in Havasu with same story. Prices continue to go up. My advice is to buy location location location and the upside can be big!

[shueman]

Short term, it's all about location.
Long term, it's all about personal freedom.

[kevin]

anyone have any contacts out there for real estate? im thinking of buying something out there, i already know i cant afford anything waterfront, but would like to get close.

[victorfb]

we definatly want deeded land. i was told anything below parker was indian land. i guess i was told wrong. anything on or near the water and deeded land down there? we are still focusing on the needles, BHC area. but want to keep our options open.

[Mr.Havasu]

Originally posted by kevin
anyone have any contacts out there for real estate? im thinking of buying something out there, i already know i cant afford anything waterfront, but would like to get close.
I'd be happy to help you! I have worked with a few people from the boards already and it's always nice because we share the same interest and become friends.
Shoot me a PM with what your looking for ie: price range, location, Sq.Ft., garage size etc. and contact numbers and I'll be happy to help you out and answere any questions.
Michele

[ACCEPTENCE]

Originally posted by victorfb
Just wanted to hear some opinions on buying a river house right now. i know its a "sellers" market, but im not so sure the prices will come down much either. they havnt in the past. they are just going up faster now. im looking in the needles area. cant afford water front, but something close would be nice.
Have you looked across the bridge in Lower Mohave Valley???
Some nice parcels and decent pricing too.
1/2 acre to 2 1/2 acre lots in Bramuda acres subdivision.
Behind the K&K used car lot and area.

[Floatin']

We bought a rental house in Lake Havasu last May 2003 for $125k today the same house is almost 200k. We are currently looking for another rental house in Havasu and are expecting to pay 250k. My advise is don't look back because those deals are gone for ever, look ahead and have the courage to pull the trigger if you find the right place.. Also I found that you must be ready to go as soon as the right place comes along because if you don't buy it someone else will.

[Essex502]

Originally posted by Floatin'
We bought a rental house in Lake Havasu last May 2003 for $125k today the same house is almost 200k. We are currently looking for another rental house in Havasu and are expecting to pay 250k. My advise is don't look back because those deals are gone for ever, look ahead and have the courage to pull the trigger if you find the right place.. Also I found that you must be ready to go as soon as the right place comes along because if you don't buy it someone else will.
How are you doing with your rental? We intend to convert our vacation home to a rental as soon as the next house is done - October/November timeframe. I'm curious on your rental experiencse - good or bad.

[AZKC]

Be careful with Marina Coves I hear they screwed up their river access plans and are land locked. Or its going to cost a ton to get the permits and fix it. I read about it in a thread somewhere:confused:

[BigBoyToys]

Prices ain't gonna go down. Buy now while ya can.

[Floatin']

Originally posted by Essex502
How are you doing with your rental? We intend to convert our vacation home to a rental as soon as the next house is done - October/November timeframe. I'm curious on your rental experiencse - good or bad.
The property mgt. takes 10% of the monthly rent which in my opinion isn't bad because they handle everything. As it sits right now I have a renter in on a yearly lease and after impound accounts for insurance and taxes + my payment I have a negative of $ 45.00 per month. My goal is to ride the appreciation wave and when we are ready to move out there permanently I will look for our "Dream Home" :rolleyes:

[hd&boatrider]

Havasu home prices
up 17.6%
By Brian Wedemeyer
The average selling price of a single-family home in Lake Havasu City has increased by about 17.6 percent over the past year, according to a new report.
The Lake Havasu Realtors Association started tracking local real estate sales in January, said Ken Standal, the group’s executive vice president. The report is based on a market listing shared by all local Realtors, and does not include sales by owner.
“The board of directors decided that the association should be the statistical provider for data in town,” Standal said. “We wanted to make sure that the information is accurate.”
The average selling price of 163 single-family homes sold in February was $200,000. In February 2003, 162 homes sold for an average price of $170,000.
One big reason for the increase, Standal said, is the rising cost of vacant lots, which are becoming more and more scarce. There are currently about 220 vacant lots listed on the market.
“The good lots are getting really hard to find,” Standal said. “And the lots that are left require a lot of money to fill and grade.”
Of the 163 single-family homes sold, 90 ranged from $100,000 to $200,000 in price. Forty-six homes priced between $200,000 and $300,000. Twelve homes sold for less than $100,000 and 15 sold for more than $300,000.
“This is still a very good market,” Standal said. “The interest rates are low and we still have people coming in from California wanting to live here.
“And whatever the price is today is probably going to be more tomorrow.”
Real estate sales totaled $99.1 million in the first two months of 2004 — compared to $90.4 million during the same period last year.

[Essex502]

Originally posted by Floatin'
The property mgt. takes 10% of the monthly rent which in my opinion isn't bad because they handle everything. As it sits right now I have a renter in on a yearly lease and after impound accounts for insurance and taxes + my payment I have a negative of $ 45.00 per month. My goal is to ride the appreciation wave and when we are ready to move out there permanently I will look for our "Dream Home" :rolleyes:
Sounds like you're doing well with it...that's exactly what I want to do with our existing LHC place. Did you use McCulloch for the property management? I was quoted by them at 10% of the rental amount.

[hd&boatrider]

Originally posted by Essex502
Sounds like you're doing well with it...that's exactly what I want to do with our existing LHC place. Did you use McCulloch for the property management? I was quoted by them at 10% of the rental amount.
That fee is negotiable. I pay 9% out in the Kingman area for a rental I have out there. Of course the difference between 9-10% is really very small unless you are talking about many thousands of dollars a month in rent.