For the Real Estate Drop in sales and price Naysayers HOLD ONTO YOUR HATS

[PaPaG]

Is this thread specific for Lake Havasu, or are we talking about real estate in general?

Real Estate in General across the US.

 

[PaPaG]

The hospital had a D rating in 2022 by a national ranking company.

Havasu Regional Medical Center - AZ - Hospital Safety Grade

How safe is Havasu Regional Medical Center? Click here to learn how well they protect their patients from errors, infections, injuries, and accidents.

www.hospitalsafetygrade.org

I need to make an edit to my opportunity list for LHC.

Health care. Does LHC have a good reputation for health care services? If it wants to be a proper retirement community, it needs exceptional health care. I've not heard great things.

If Offroading and Boater access are paramount to LHC, they should work toward protecting those things. I'm unsure how to protect boaters' access, but I know a thing or two about OHV access. I would not depend on BLM to maintain access; I would work to establish a dedicated OHV recreation area.

The events are significant that LHC has. I was unaware of all these until we came here for winter. LHC tourism board could do a better job outside the area promoting the events. I heard an interesting point from a local friend about the events. I asked him about concerts, and he said the following:

• Snowbirds are cheap and like free or low-cost events
• Californians are too busy with recreation to bother with paying for additional entertainment
• Full-time working-class residents don't have enough free cash to pay for top-tier entertainment.

I think the weather is the biggest asset. I have to go to Denver tomorrow for the week, and I am dreading shoes and pants.

Crappy Healthcare from Bullhead City to Parker. I told the wife if either one of us ever get into a situation where we need emergency care get a chopper or we drive to Vegas to the doctors and hospitals we know do good work. I know of at least 4 people that family members had been told time to button up your affairs during covid nothing more they could do life was over. They ended up taking the sick family members to Phoenix, Chandler & Vegas for medical care and all 4 lived and are fine now. I also had a friend a few months back being told that he had stage 4 kidney failure while in the Hospital in Ft. Mohave, and during his time there they said it turned into stage 5, did all kinds of tests. My friend said screw this and checked himself out and his wife took him to one of the good hospitals in Phoenix area and after 3 days of tests and filling him with fluids they said he was just dehydrated and had a cyst on his kidney that would go away with meds and to leave it alone and he will be fine...back to normal now. If these hospitals got their shit together they could really up their game and level of care but for now they suck.

 

[Sportin' Wood]

Real Estate in General across the US.

In that case:

.if you planned on selling I hope you got it done or soon...if not expect some changes very soon. On the other hand, if you are a potential cash buyer TONS of great opportunities around the corner and from what I am guessing another 2 years of downturn and great prices to start very soon....

I think your prediction and the original context of this thread seem accurate so far. It's been a little over six months. IMHO spring will be the best leading indicator of the housing market. If we continue to see tight inventory, I don't believe we will see accelerated advertised price reductions, but I suspect it remains a buyer's market with negotiations.

I do not see a lot of attractive listings, but on occasion, I see something that piques my interest. So far, nothing that makes me feel like I need to drive home to Montana and look closer at it. We are picky at this stage in our lives. We can afford to be as we are not dealing with selling one home and needing to buy the following while transitioning. However, we both are starting to miss having a home. I miss my tools, and Angie misses her kitchen. Those types of influences make people just suck it up and buy.

Lots of factors contribute to these types of events.

 

[CarolynandBob]

Crappy Healthcare from Bullhead City to Parker. I told the wife if either one of us ever get into a situation where we need emergency care get a chopper or we drive to Vegas to the doctors and hospitals we know do good work. I know of at least 4 people that family members had been told time to button up your affairs during covid nothing more they could do life was over. They ended up taking the sick family members to Phoenix, Chandler & Vegas for medical care and all 4 lived and are fine now. I also had a friend a few months back being told that he had stage 4 kidney failure while in the Hospital in Ft. Mohave, and during his time there they said it turned into stage 5, did all kinds of tests. My friend said screw this and checked himself out and his wife took him to one of the good hospitals in Phoenix area and after 3 days of tests and filling him with fluids they said he was just dehydrated and had a cyst on his kidney that would go away with meds and to leave it alone and he will be fine...back to normal now. If these hospitals got their shit together they could really up their game and level of care but for now they suck.

We have crappy medical near our TN place. We have a service called Airmed and pay $80 a yr. It will fly us to Nashville for better emergency services. I know someone that didn't have it and has been paying off his helo ride for years.

 

[monkeyswrench]

We have crappy medical near our TN place. We have a service called Airmed and pay $80 a yr. It will fly us to Nashville for better emergency services. I know someone that didn't have it and has been paying off his helo ride for years.

I've heard about a setup like this here in AZ as well. We have hospitals that are fairly decent for elderly and adults, for kids, better over the hill, but really good down in Phoenix.

I was told by a nurse friend (bearded veteran guy, not cute female) "If your kid breaks their arm, not compound, brace it and drive to... If you break a hip, or have a heart attack, come on down."

Pediatric care sucks here.

 

[PaPaG]

We have crappy medical near our TN place. We have a service called Airmed and pay $80 a yr. It will fly us to Nashville for better emergency services. I know someone that didn't have it and has been paying off his helo ride for years.

There was a billboard out here in Mohave that had a medical air transport service for emergencies for something like 300/400 bucks a year and I told the wife if our new insurance that starts in a month or so does not cover air transport we should get it, a friend of ours fell off a ladder recently and his air ride to Vegas was 40k but thankfully he was on (I think medicare or another disabled assisted program) and he only paid a few hundred. OH Forgot to mention, he went to the local hospital and they put a pin in his hip and said it would heal, once in vegas they found out he destroyed his hips and part of his back so surgery with a rod put through from one end to the other along with 8 screws that were HUGE and a few other things, I saw the xrays and I cringed. Smart of you guys to have that extra bit of insurance.

 

[X Hoser]

In that case:



I think your prediction and the original context of this thread seem accurate so far. It's been a little over six months. IMHO spring will be the best leading indicator of the housing market. If we continue to see tight inventory, I don't believe we will see accelerated advertised price reductions, but I suspect it remains a buyer's market with negotiations.

I do not see a lot of attractive listings, but on occasion, I see something that piques my interest. So far, nothing that makes me feel like I need to drive home to Montana and look closer at it. We are picky at this stage in our lives. We can afford to be as we are not dealing with selling one home and needing to buy the following while transitioning. However, we both are starting to miss having a home. I miss my tools, and Angie misses her kitchen. Those types of influences make people just suck it up and buy.

Lots of factors contribute to these types of events.

This is where we were at. We needed a “home” so we had a place where we could entertain, cook and I had access to my tools. Never have we been without a house since I was 18. In my experiences, spring is usually the time people sell and buy. We sold in June and have been in the RV ever since. Was fun at first, but slowly we became less active and started putting on the weight. I got bored not having projects to work on.

We have been “in the market” from the time we sold, but looking for a “deal” as we believed the market was changing. Well, what I am seeing is everything we like is not falling in price. Infact, the house we are having built in Idaho apprised in October and then just had it appaised again for a small loan we are taking out and it appraised $50K higher than in October. Waterfront property in Tennessee is the same price if not a little higher than July when we first started looking and it is selling.

What my experience has shown me is that desirable properties are holding their value. Many sellers are taking the position that if "I can’t get what I want I’ll just wait". Having a 3% mortgage isn’t creating a hardship on them and many hesitate to let it go. I believe entry level Tract homes, which seems to be the barometer for the market, are suffering the most as these buyers are not willing, (capable), of buying at a certain price point with interest rates where they are. Developers are having to lower their prices to stay in business.

Time will tell what happens. I’m sure the Presidential Election will have an effect in one way or another.

 

[angiebaby]

We have crappy medical near our TN place. We have a service called Airmed and pay $80 a yr. It will fly us to Nashville for better emergency services. I know someone that didn't have it and has been paying off his helo ride for years.

Where are you guys at? Our friends in Knoxville area (Maryville) rave about their hospital facilities.

 

[PaPaG]

Sad as we get older we have to decide on future areas to live or retire where the medical care will be good if not great. So many great areas where medical care is crap or not desirable as we all age. Thankfully I hate going to the doctors even if I am sick so I told the wife its ok if it gets bad just bury me in the backyard, a strange smile lit up her face along with a grin........

 

[bonesfab]

Sad as we get older we have to decide on future areas to live or retire where the medical care will be good if not great. So many great areas where medical care is crap or not desirable as we all age. Thankfully I hate going to the doctors even if I am sick so I told the wife its ok if it gets bad just bury me in the backyard, a strange smile lit up her face along with a grin........

She might not wait till you are ill.

 

[X Hoser]

Where are you guys at? Our friends in Knoxville area (Maryville) rave about their hospital facilities.

Probably Fort Sanders MC. Have heard they are pretty good.

 

[angiebaby]

Probably Fort Sanders MC. Have heard they are pretty good.

I think they go to a university MC.

 

[rrrr]

We have crappy medical near our TN place. We have a service called Airmed and pay $80 a yr. It will fly us to Nashville for better emergency services. I know someone that didn't have it and has been paying off his helo ride for years.

We have coverage with CareFlite. The cost for me, my wife, and her mom is $150 every four years. With helicopter EMS charges running $20K and up, it's crazy not to have this peace of mind.

 

[Gonefishin5555]

I was thinking of Boulder City as a retirement place since its so close to henderson/vegas. Prescott is a possiblty but still 90 minutes from Phoenix

 

[Runs2rch]

I was thinking of Boulder City as a retirement place since its so close to henderson/vegas. Prescott is a possiblty but still 90 minutes from Phoenix

BC is closed.

 

[hallett21]

A friend of mine got flown from Havasu to Phoenix and the bill was $80,000 , I know that for a fact because he showed the bill to me .

A G600 with cocktails woulda been cheaper

 

[CarolynandBob]

Where are you guys at? Our friends in Knoxville area (Maryville) rave about their hospital facilities.

Biggest "city" to us is Paris. TN.

 

[Looking Glass]

A friend of mine got flown from Havasu to Phoenix and the bill was $80,000 , I know that for a fact because he showed the bill to me .

For LHC, BHC, and Kingman Not to have "1" Trauma Hospital is Pathetic. The Care Flight Businesses are making a Fortune flying to Vegas and Phoenix.

 

[Looking Glass]

For LHC, BHC, and Kingman Not to have "1" Trauma Hospital is Pathetic. The Care Flight Businesses are making a Fortune flying to Vegas and Phoenix.

I can picture one up on the 40 and Centrally located between all three of these Communities, funded by Holding Back 1/2% of what we give to Foreign Countries who do Not Deserve/Appreciate the American people's Generosity.

 

[HNL2LHC]

Anyone see this? For the younger guys here I’d jump on this type of property live in it for a couple of years with owner ocupide loan. Then rent it out entirely to others and buy another house….rinse and repeat. At the current price it could be a rental all day long Even with the higher interest rate.

3626 Bluegrass Dr, Lake Havasu City, AZ 86406 | Zillow

3626 Bluegrass Dr, Lake Havasu City AZ, is a Single Family home that contains 1966 sq ft and was built in 1977.It contains 4 bedrooms and 2 bathrooms.This home last sold for $327,000 in February 2023. The Zestimate for this Single Family is $363,800, which has increased by $10,913 in the last...

www.zillow.com

 

[hallett21]

KB Homes missed earnings by 14%

Cancellation rate of 68% in some areas.

It’ll be interesting to see the CPI numbers tomorrow

 

[Gonefishin5555]

Not really that bad they still project 20% profit margins and have a significant backlog. The market is setting itself up to take a dump tomorrow. SQQQ if you want to hedge against this.

 

[RogerThat99]

Significant delinquencies on utilities. Are house payments next?

 

[hallett21]

Not really that bad they still project 20% profit margins and have a significant backlog. The market is setting itself up to take a dump tomorrow. SQQQ if you want to hedge against this.

I’m skeptical on their backlog. They still need to build and sell those homes.

I’m not calling for a housing crash. But building and selling new tract homes sounds rough right now.

 

[Orange Juice]

I’m skeptical on their backlog. They still need to build and sell those homes.

I’m not calling for a housing crash. But building and selling new tract homes sounds rough right now.

These are selling. Look how much they paid an acre….$220,000.

Pulte Homes buys 20.6 acres of land in Glendale for $4.4M - AZ Big Media

Pulte Homes bought 20.6 acres of land in Glendale for $4,400,000, according to the commercial real estate tracking website Vizzda.

azbigmedia.com

 

[hallett21]

These are selling. Look how much they paid an acre….$220,000.

Pulte Homes buys 20.6 acres of land in Glendale for $4.4M - AZ Big Media

Pulte Homes bought 20.6 acres of land in Glendale for $4,400,000, according to the commercial real estate tracking website Vizzda.

azbigmedia.com

Cheap dirt for sure. But what’s the lot costs after grading, underground and streets are completed?

Idk how KB homes can lower build costs. Other than use cheaper materials/finishes.

Material and labor are still way up.

 

[OldSchoolBoats]

Mortgage rates are falling and the RE market is heating up again, now that the holidays are over. I personally just put 2 new clients into escrow this week and agents are seeing a huge uptick in activity from buyers and sellers. CPI today came in right as forecast.

Below is a great post made by my buddy and fellow Loan Officer, Andrew Cady. Solid read.


"Inflation numbers are out, and they came in exactly where we expected them to. The BLS (Bureau of Labor Statistics) Consumer Price Index report released today showed headline inflation decreased from 7.1% to 6.5% and the FED’s favorite measure of inflation decreased from 6% to 5.7%

Let’s dig just a little deeper why we still believe over the next several months we will see the inflation decrease at an accelerated pace, specifically the CORE inflation. The reason the FED focuses so much on CORE inflation (all items less food and energy) is because food and energy are items the FED doesn’t really have control over with their monetary policy, they are controlled much more by global economies and even by weather.

Nearly 40% of CORE inflation is made up by Shelter costs, and the line item in the CPI report for Shelter is the one that increased the most in December’s numbers (up 8/10 %). This is because shelter has about a 6-month lag time in the CPI report, meaning the numbers reported in December, were numbers from around June. As we see the next couple of reports come out in February and March, we should see shelter costs begin to decrease rather than increase as we began to see rent costs decrease in July / August 2022. When that happens, being that shelter makes up 40% of CORE CPI, there is a high probability of the overall number beginning to decrease at an accelerated pace. This will spell good news for mortgage rates as we close in on the end of Q1 2023!"

 

[Havasu blue label]

Mortgage rates are falling and the RE market is heating up again, now that the holidays are over. I personally just put 2 new clients into escrow this week and agents are seeing a huge uptick in activity from buyers and sellers. CPI today came in right as forecast.

Below is a great post made by my buddy and fellow Loan Officer, Andrew Cady. Solid read.


"Inflation numbers are out, and they came in exactly where we expected them to. The BLS (Bureau of Labor Statistics) Consumer Price Index report released today showed headline inflation decreased from 7.1% to 6.5% and the FED’s favorite measure of inflation decreased from 6% to 5.7%

Let’s dig just a little deeper why we still believe over the next several months we will see the inflation decrease at an accelerated pace, specifically the CORE inflation. The reason the FED focuses so much on CORE inflation (all items less food and energy) is because food and energy are items the FED doesn’t really have control over with their monetary policy, they are controlled much more by global economies and even by weather.

Nearly 40% of CORE inflation is made up by Shelter costs, and the line item in the CPI report for Shelter is the one that increased the most in December’s numbers (up 8/10 %). This is because shelter has about a 6-month lag time in the CPI report, meaning the numbers reported in December, were numbers from around June. As we see the next couple of reports come out in February and March, we should see shelter costs begin to decrease rather than increase as we began to see rent costs decrease in July / August 2022. When that happens, being that shelter makes up 40% of CORE CPI, there is a high probability of the overall number beginning to decrease at an accelerated pace. This will spell good news for mortgage rates as we close in on the end of Q1 2023!"

 

[LargeOrangeFont]

Mortgage rates are falling and the RE market is heating up again, now that the holidays are over. I personally just put 2 new clients into escrow this week and agents are seeing a huge uptick in activity from buyers and sellers. CPI today came in right as forecast.

Below is a great post made by my buddy and fellow Loan Officer, Andrew Cady. Solid read.


"Inflation numbers are out, and they came in exactly where we expected them to. The BLS (Bureau of Labor Statistics) Consumer Price Index report released today showed headline inflation decreased from 7.1% to 6.5% and the FED’s favorite measure of inflation decreased from 6% to 5.7%

Let’s dig just a little deeper why we still believe over the next several months we will see the inflation decrease at an accelerated pace, specifically the CORE inflation. The reason the FED focuses so much on CORE inflation (all items less food and energy) is because food and energy are items the FED doesn’t really have control over with their monetary policy, they are controlled much more by global economies and even by weather.

Nearly 40% of CORE inflation is made up by Shelter costs, and the line item in the CPI report for Shelter is the one that increased the most in December’s numbers (up 8/10 %). This is because shelter has about a 6-month lag time in the CPI report, meaning the numbers reported in December, were numbers from around June. As we see the next couple of reports come out in February and March, we should see shelter costs begin to decrease rather than increase as we began to see rent costs decrease in July / August 2022. When that happens, being that shelter makes up 40% of CORE CPI, there is a high probability of the overall number beginning to decrease at an accelerated pace. This will spell good news for mortgage rates as we close in on the end of Q1 2023!"

C’mon man, is any of that considered facts???

 

[bk2drvr]

I talked to a Pulte Homes agent two nights ago that is selling a track in Socal right now and it was a very interesting conversation. To sum it up she said make an offer regardless of what the asking price is. Basically all offers are being considered. (Im speaking in terms of new construction)

 

[Gonefishin5555]

I talked to a Pulte Homes agent two nights ago that is selling a track in Socal right now and it was a very interesting conversation. To sum it up she said make an offer regardless of what the asking price is. Basically all offers are being considered. (Im speaking in terms of new construction)

There is a new Lennar development close to my house. They have actual inventory available at around $1.8M too bad I'd have to give up my 3% mortgage to make the move. Close by slightly smaller home than mine went under contract at $1.4+ recently.

 

[NicPaus]

I talked to a Pulte Homes agent two nights ago that is selling a track in Socal right now and it was a very interesting conversation. To sum it up she said make an offer regardless of what the asking price is. Basically all offers are being considered. (Im speaking in terms of new construction)

What part of SoCal?

 

[DUNEFLYER]

Was finishing a deal with a purchasing agent at another large home builder on Monday. Tuesday morning I get an email from their big boss, the purchasing agent and 16 other peeps were let go Tuesday morning. Bummer for sure, Our work is slowing down..
What sucks is our costs have not come down very much yet.

 

[petie6464]

The hospital had a D rating in 2022 by a national ranking company.

Havasu Regional Medical Center - AZ - Hospital Safety Grade

How safe is Havasu Regional Medical Center? Click here to learn how well they protect their patients from errors, infections, injuries, and accidents.

www.hospitalsafetygrade.org

Yeah. . "Physician owned" and putting the screws to anyone that walk on the door. $$

Crooks is an understatement!

 

[LargeOrangeFont]

Yeah. . "Physician owned" and putting the screws to anyone that walk on the door. $$

Crooks is an understatement!

The one time we had to go in there is was great. Paid right there for a 30% discount as opposed to letting them bill me.

 

[PaPaG]

Was finishing a deal with a purchasing agent at another large home builder on Monday. Tuesday morning I get an email from their big boss, the purchasing agent and 16 other peeps were let go Tuesday morning. Bummer for sure, Our work is slowing down..
What sucks is our costs have not come down very much yet.

Sucks but it is only the beginning according to Moody's Analytics, Redfin, and a host of other real estate experts.

 

[PaPaG]

Yeah. . "Physician owned" and putting the screws to anyone that walk on the door. $$

Crooks is an understatement!

I had slipped and sliced my palm against a blade really bad changing a prop years ago, squirting blood out of my palm at a pace that even had me worried, we were at Moabi at the time, as we are driving through to Ft. Mohave hospt the agriculture agent saw my blood soaked towel and said TURN AROUND and DONT GO TO FT. MOHAVE hospital they will kill you, go to Havi, we turned around right away. Got to Havi, walk in, showed my great insurance, they take the appropriate time to check me in, have me sit and wait for a Doc said it would be a minute or two, a guy rushes in and had his fingers in a bag of ice that were cut off by boats being smashed together they were going to take me in first (I think because he had no insurance) and I said NO WAY you got a guy with fingers in a bag, I think I will survive with pressure on my slice vs his fingers in a bag of ice...so they took him in after I insisted, I hope things have changed by now but from what most say it has not..

 

[petie6464]

The one time we had to go in there is was great. Paid right there for a 30% discount as opposed to letting them bill me.

Yeah you may think you got a deal but I guarantee you didn't.

Mine was a little more $200k + was offered a one time cash payment of $170k.

After getting outside negotiation assistance $170k of that bill was deemed excessive charges and un-billable, they accepted $<30k as full payment.

They are Crooks 100%.

 

[LargeOrangeFont]

Yeah you may think you got a deal but I guarantee you didn't.

Mine was a little more $200k + was offered a one time cash payment of $170k.

After getting outside negotiation assistance $170k of that bill was deemed excessive charges and un-billable, they accepted $<30k as full payment.

They are Crooks 100%.

$80 bucks for an ER visit was a screaming deal.

Maybe they were pissed because you told them the food sucked?

 

[beaverretriever]

We get these market reports in the mail for our local community. Always cool to see whats going on. Our area isn't quite as indicative of the rest of the nation but definitely gives some sort of round idea of the trend.

 

[77charger]

I’m skeptical on their backlog. They still need to build and sell those homes.

I’m not calling for a housing crash. But building and selling new tract homes sounds rough right now.

My brother did alot if kb homes showers. I talked to a guy from kb a few months ago he said they were gonna build what’s started and hold off on new.

Another at shea homes in San Diego said similar but just going to slow down production and stick to smaller phases. Both told me they lost sales to rising interest rates. Shea homes guy told me what the average monthly payment was between 2 phases previous to what current was going to be was a big jump.

 

[regor]

US Layoffs Far Higher Than Suggested By Initial Jobless Claims, JOLTS​

More gaslighting by the Biden admin...

TUE JAN 17, AT 9:08 AM

Microsoft Reportedly Plans To Cut Thousands Of Jobs This Week​

"A massive number of managers in Bing got a critical confidential meeting scheduled for Tuesday morning ... But the time of this mass meeting lines up with the speculated Jan 17 - 18 layoff date."

TUE JAN 17, AT 11:01 AM


In other news, heard the BOJ will be the buyer of all Japan bonds possibly by the end of the year?

 

[hallett21]

it’ll be interesting to see where housing comes in tomorrow.

 

[HNL2LHC]

Looked into going to see this house today to possibly purchase it. But we were a day late. It was under contract in one day and multiple offers over ask.

Lake Havasu City, AZ Real Estate & Homes For Sale | RE/MAX

Search the most complete Lake-havasu-city, AZ real estate listings for sale. Find Lake-havasu-city, AZ homes for sale, real estate, apartments, condos, townhomes, mobile homes, multi-family units, farm and land lots with RE/MAX's powerful search tools

www.remax.com

3455 El Dorado Ave N, Lake Havasu City, AZ 86406 Property Report | ATTOM

View property report for 3455 El Dorado Ave N, Lake Havasu City, AZ 86406 on ATTOM’s Property Navigator. Home values, sales prices, taxes, school data, and more.

www.homedisclosure.com

 

[shintoooo]

https://twitter.com/i/web/status/1615471863991504896

 

[JFMFG]

So is this it? Is the downturn finally here?

 

[OldSchoolBoats]

So is this it? Is the downturn finally here?

No

 

[Gonefishin5555]

So is this it? Is the downturn finally here?

It’s like watching paint dry only 10000x slower

 

[attitude]

So is this it? Is the downturn finally here?

I had a buddy get laid off from a City this week, he was a plan checker for home improvement permits.

Unfortunately he is a home owner.

 

[EmpirE231]

I had a buddy get laid off from a City this week, he was a plan checker for home improvement permits.

Unfortunately he is a home owner.

If a city / government agency is laying anyone off…. Things gotta be really bad.