Havasu Homes (single family)

[hallett21]

Sitting at 324 today.

Up 6 from your Monday post.

I wonder how many homes were bought because of lock downs and are now being listed.

 

[TCHB]

Up 6 from your Monday post.

I wonder how many homes were bought because of lock downs and are now being listed.

Good question. I know a few snowbirds that are trying to cash out now and travel the world with the extra cash.

 

[LargeOrangeFont]

Up 6 from your Monday post.

I wonder how many homes were bought because of lock downs and are now being listed.

The job josses are just barely starting. Probably not a lot yet. If you were letting it sit, you can afford to let it sit, and if you are renting it, business is still pretty good.

 

[DRYHEAT]

In three years, electric vehicles will dominate new car sales.
Charging stations will cover areas, similar to cell phone coverage. (Infrastructure spending)

Gasoline pumps will be removed.
Mechanics no longer being trained on internal combustion engines.

By 2112, I’ll hop a turbine freight, to arrive at my uncles country farm. Things will be different. And if you think parts are hard to find today, give it another 20 years, and no one knows a red Barchetta, from a 1963 Split window Corvette.

No one is supposed to know about your uncle‘s country place.

 

[TCHB]

Today 336 single family homes On the market.

 

[Havasu blue label]

Well someone’s dumping there homes after this weekend should add some

 

[stillhustlin]

I’m in residential construction up in northern utah and have worked for several spec builders in the past. 3 months ago we saw our spec product creep up 15% in about a 20 day period. As of now every builder building spec (most in in this market) now has a backlog of inventory. The previous builder I was with has 19 homes in inventory with little no no action. This is up from 0 3 months ago. They do about 100 homes per year. Most builders are bringing 5-10k to the table right now for rate buy down and prices have been dropped about 3-5%. I think havasu could be slightly more sheltered with the pool of California cash buyers but with rates where they are it’s going to be tuff for people to qualify if anyone in the process has to get a loan. I’n order to adjust for the payment you would have made at 3-3.5% on a 600k home you would have to bring it down to $450k at 6%. I could be wrong but I think a slowdown is definitely near.

 

[Starloans]

Las Vegas home sellers slashing prices as mortgage rates climb

Locally and nationally, the number of price cuts rose for the third consecutive month in May.

www.reviewjournal.com

 

[BajaT]

Today 336 single family homes On the market.

524 today per realtor.com.

Lake Havasu City, AZ Single Family Homes for Sale​

524 Homes

 

[LargeOrangeFont]

524 today per realtor.com.

Lake Havasu City, AZ Single Family Homes for Sale​

524 Homes

And how many are selling?

 

[Gonefishin5555]

Filter out the pending/contingent listings I get 341

524 today per realtor.com.

Lake Havasu City, AZ Single Family Homes for Sale​

524 Homes

 

[LargeOrangeFont]

Filter out the pending/contingent listings I get 341

Dammit the sky isn’t falling

 

[Havasu blue label]

All cash buyers

 

[Havasu blue label]

The sky won’t fall but your equity will

 

[LargeOrangeFont]

All cash buyers

So the 30% that needed multiple families to qualify now found the cash in grandma’s couch?

 

[LargeOrangeFont]

The sky won’t fall but your equity will

That’s fake money anyway, amirite?

The cash flow however, is real.

 

[Havasu blue label]

In my book it’s fake money I believe you said the million dollar buyers where all cash .

 

[MSum661]

Coldwell Banker today is showing 48 home price reduction's within 6 days

 

[LargeOrangeFont]

In my book it’s fake money I believe you said the million dollar buyers where all cash .

No I never said that. I said the $11m buyer was cash. I said many of multi million transactions are cash, but certainly not all. A slightly above average home in a decent area is $1M. Those are mostly financed.

I’m having drinks with my friend in Ladera tonight that is listing his place for $2.8M. The pocket showings they did were all cash buyers. He was a little late to the party and is now freshening up his kitchen to make it go. He bought for $1.3 in 2013, put in $300k in upgrades, and probably another $30-40k to put lipstick on for sale. He’s gonna go to Vegas and pay around $1.8M cash for what he wants.

 

[TCHB]

No I never said that. I said the $11m buyer was cash. I said many of multi million transactions are cash, but certainly not all. A slightly above average home in a decent area is $1M. Those are mostly financed.

I’m having drinks with my friend in Ladera tonight that is listing his place for $2.8M. The pocket showings they did were all cash buyers. He was a little late to the party and is now freshening up his kitchen to make it go. He bought for $1.3 in 2013, put in $300k in upgrades, and probably another $30-40k to put lipstick on for sale. He’s gon go to Vegas and pay around $1.8M cash for what he wants.

I'm seeing the Havasu contractors new pimped out trucks coming up for sale soon.

Havasu home inventory’s above 300 for single family. What is normal and how high will it go.

345. Going up faster than I thought.

 

[LargeOrangeFont]

345. Going up faster than I thought.

This is in before the lock stuff.. I’ve seen some (members) houses that had signs on them a month ago that are simply no longer for sale today.

 

[TCHB]

This is in before the lock stuff.. I’ve seen some (members) houses that had signs on them a month ago that are simply no longer for sale today.

Going off Zillo data.

 

[stillhustlin]

In the 2008 fallout the market didn’t bottom until 2011ish. I think we still have a long ways to go as to see how this will eventually unfold. If the fed can’t get inflation under control and rates continue to rise it could definitely get ugly. Biggest thing will be if banks start taking on foreclosures. If they do they are the most likely to sell irrationally low dropping the market. Still some cards needs to be turned over on the table.

 

[TCHB]

 

[LargeOrangeFont]

View attachment 1129029

Just wait. That will be $500k in 90 days .

 

[86403]

$50k price drop. That will be $500k in 8 days

 

[86403]

In all seriousness, The Golf Course area is my favorite part of LH.

 

[530RL]

View attachment 1129064 $50k price drop. That will be $500k in 8 days

Listed on 6/23/2022 for 949k......and the price drop was a few hours later to 899k on 6/23/2022.

Paid 590 in September of 2018. Even if one drops it another 99k to 800 it is a 35% gain in less than 4 years.

Pretty outstanding investment and they got to live in it.

 

[Havasu blue label]

The golf course area is havasu then the island

 

[was thatguy]

Listed on 6/23/2022 for 949k......and the price drop was a few hours later to 899k on 6/23/2022.

Paid 590 in September of 2018. Even if one drops it another 99k to 800 it is a 35% gain in less than 4 years.

Pretty outstanding investment and they got to live in it.

Minus the $150K or so in holding costs.
After commissions and fees it’s still pretty good to live there basically for free for 4 years!

 

[LargeOrangeFont]

Minus the $150K or so in holding costs.
After commissions and fees it’s still pretty good to live there basically for free for 4 years!

You are clearly not an RDP financial expert. Can’t you see that his equity dropped $50k in a matter of hours? The end is near. Don’t forget your hat.

 

[was thatguy]

You are clearly not an RDP financial expert. Can’t you see that his equity dropped $50k in a matter of hours? The end is near. Don’t forget your hat.

 

[Flatsix66]

I heard from the bartender (who used to sell RE in the area) at Chabones last night that the RE crash is coming by labor day...and the lake will be dry.

 

[petie6464]

I'm smelling some blood in the water. . I'm seeing a next to new diesel truck in my future and more multi tenant properties coming my way. .# slum lord.

 

[LargeOrangeFont]

I'm smelling some blood in the water. . I'm seeing a next to new diesel truck in my future and more multi tenant properties coming my way. .# slum lord.

Word.

 

[westair]

1000 new havasu homes coming soon! ...... affordable housing project

Mohave County gives the green light for 1,000 home development north of Havasu

Plans to build a large residential development with about 1,000 homes on the other side of the mountains north of Lake Havasu City are now moving full steam ahead after

www.havasunews.com

 

[LargeOrangeFont]

1000 new havasu homes coming soon! ...... affordable housing project

Mohave County gives the green light for 1,000 home development north of Havasu

Plans to build a large residential development with about 1,000 homes on the other side of the mountains north of Lake Havasu City are now moving full steam ahead after

www.havasunews.com

2 weeks!!

 

[TCHB]

Start July here.

 

[Yldboyz]

The people singing "zippity doo dah" out their butt hole are gonna be in for a big surprise when we go into the 7th inning stretch. It will be too late to turn back.

 

[Gonefishin5555]

RV Garage and a pool under 600K Seems like a decent price relative to everything else

3974 Black Hill Dr, Lake Havasu City, AZ 86406 | Zillow

3974 Black Hill Dr, Lake Havasu City AZ, is a Single Family home that contains 1852 sq ft and was built in 1987.It contains 3 bedrooms and 2 bathrooms.This home last sold for $589,000 in August 2022. The Zestimate for this Single Family is $650,100, which has decreased by $5,880 in the last 30...

www.zillow.com

 

[2Driver]

1000 new havasu homes coming soon! ...... affordable housing project

Mohave County gives the green light for 1,000 home development north of Havasu

Plans to build a large residential development with about 1,000 homes on the other side of the mountains north of Lake Havasu City are now moving full steam ahead after

www.havasunews.com

Deemed as affordable workforce housing. It will be interesting to see how that turns out. Bedroom communities are pricing out the workers so perhaps its a good thing if they can impose some basic standards. Hopefully it gets finished and doesnt become a slab city.

 

[LargeOrangeFont]

RV Garage and a pool under 600K Seems like a decent price relative to everything else

3974 Black Hill Dr, Lake Havasu City, AZ 86406 | Zillow

3974 Black Hill Dr, Lake Havasu City AZ, is a Single Family home that contains 1852 sq ft and was built in 1987.It contains 3 bedrooms and 2 bathrooms.This home last sold for $589,000 in August 2022. The Zestimate for this Single Family is $650,100, which has decreased by $5,880 in the last 30...

www.zillow.com

That might make a great short term rental.

 

[DWC]

Deemed as affordable workforce housing. It will be interesting to see how that turns out. Bedroom communities are pricing out the workers so perhaps its a good thing if they can impose some basic standards. Hopefully it gets finished and doesnt become a slab city.

But if it does become a slab city i hope they build a paper mache hill so everyone can enjoy it.

 

[TCHB]

Almost 400 now.

 

[Havasu blue label]

It’s on the way

 

[shintoooo]

Who is going to jump on this deal?

3572 Grelle St, Lake Havasu City, AZ 86404 | Zillow

3572 Grelle St, Lake Havasu City AZ, is a Mobile / Manufactured home that contains 1100 sq ft and was built in 1973.It contains 2 bedrooms and 1 bathroom.This home last sold for $67,000 in August 2023. The Rent Zestimate for this Mobile / Manufactured is $1,027/mo, which has increased by...

www.zillow.com

 

[LargeOrangeFont]

Who is going to jump on this deal?

3572 Grelle St, Lake Havasu City, AZ 86404 | Zillow

3572 Grelle St, Lake Havasu City AZ, is a Mobile / Manufactured home that contains 1100 sq ft and was built in 1973.It contains 2 bedrooms and 1 bathroom.This home last sold for $67,000 in August 2023. The Rent Zestimate for this Mobile / Manufactured is $1,027/mo, which has increased by...

www.zillow.com

2FF probably already bought it.

 

[Slick]

Or this one.

3056 Jennie Ln, Lake Havasu City, AZ 86404 | Zillow

3056 Jennie Ln, Lake Havasu City AZ, is a Mobile / Manufactured home that contains 552 sq ft and was built in 1970.It contains 1 bedroom and 1 bathroom.This home last sold for $99,900 in August 2022. The Zestimate for this Mobile / Manufactured is $127,700, which has increased by $1,803 in the...

www.zillow.com

 

[LargeOrangeFont]

Cant see your pic there.

 

[mbrown2]

Cant see your pic there.

I deleted my post as I had too many filters checked with Zillow....available homes has only gone up above 550 in the last 30 days...that's quite a jump but definitely not the 800 like I had incorrectly in my deleted post...