Havasu real estate

[AZLineman]

Maybe it’s just me but I see more nice places suddenly for sale then usual. Did the VRBO/Airbnb rules change? Or are people just trying to liquidate before prices drop (hopefully) ? Definitely some nice pads for sale but IMO still way overpriced. I guess if I was coming from Newsom land prices would seem good. I don’t even know how people in the service industry or any other normal trying to make it jobs afford to live there anymore. Lol.

 

[NeedlesRat]

I look at Zillow every day and am thinking the same exact thing you are. A lot of bad ass places popping up every day. I do know from friends and coworkers who have places out there that they rent, they all say that the rental market is super saturated and unless they drop the prices significantly (which aren’t out of control to begin with) it’s too hard to compete. So my thought is 1) people are cashing out, and 2) that people who bought homes that essentially paid for themselves by way of rental, are no longer bringing in the cash flow to make that reality happen any longer so they are liquidating. Just my perspective considering I watch the market pretty heavy and want a place, as well as my wife and I rent throughout the summer. The prices they are asking are way to high for me to afford as a vacation home, but still significantly less than a new house in CA and it comes with a pool and RV garage.

 

[pkrrvr619]

I'll be watching this thread as there is still a lot of development in the Havasu area. Granted these pads start at 800k plus so I wonder if that attracts a whole other subset of buyer?

When my wife told me she wanted to get out of Parker (5th wheel on the water) and into a home in Havasu, I told her that she needs to find a place that will fit the boat and that is less than our socal house when we purchased it 10 years ago.

Needless to say that narrowed it down to one choice, so we bought that one. I qualified for much more house which was brought to my attention many times during the house narrowing down process, but a vacation home is a straight luxury that is not needed so any more home for the two of us and our chihuahuas would have been an exercise in vanity and a monthly nut that I didn't want hanging over our head as we didn't plan on renting it out.

Fast forward 9 months, and we are very happy. it's been a lot of work but we've made it into a home, sure it could use a new kitchen, but for 9 days a month who cares?

My mom lives in Iowa and asked if she could snow bird for a few months since she got snowed in last year, but that wasn't apart of our buying decision and its just nice to have her closer to visit more often a few months a year now.

I suppose where im going is that with a vacation home I’m glad I stuck to a cheap house that’s comfortable that we don’t have to rent out to afford.

 

[COCA COLA COWBOY]

I've spoke to a couple realtors out there and they said inventory is way up, buyers are way down and AirBNB and VRBO is expected to falter except exceptional properties. We all saw this coming though. Supply and Demand. Wages in Havasu don't support property values and fewer people are moving there from California.

 

[PlanB]

A newer build in North Point with a massive garage popped up in my feed yesterday and at a lower price point than I would have expected. I definitely would not want to be in that development because I personally need more room between houses, but it was still "cheap" considering what we have seen in recent years.

 

[SJP]

I am hoping to start an RV garage build. Waiting for things to cool a little bit more.

 

[Havasu blue label]

It’s catching up to them

 

[mjc]

I've spoke to a couple realtors out there and they said inventory is way up, buyers are way down and AirBNB and VRBO is expected to falter except exceptional properties. We all saw this coming though. Supply and Demand. Wages in Havasu don't support property values and fewer people are moving there from California.

This is what I heard. Too many bought during COVID for Airbnb and now the need for them has dropped. The Airbnb across the street from me was way down on renters this year and the others on our street were not much better.

 

[wet hull]

We rent ours out but lately it's just our repeat groups that are private. Like last 2 seasons. We get zero traction on VRBO but in all honesty doesn't bother us much. We just use it more. We have great snowbirds that carry our mortgage 6 months with the 3 they stay. Keep in mind my all in monthly is $1500 with utilities. Bought 7 years ago. I would wager everyone that used potential VRBO rental income to qualify is now meeting their maker and need to sell. I would love to trade up into a pool house with RV garage. We never touched our equity on this house and it's more then doubled.

 

[DarkHorseRacing]

I'd love to start looking for a retirement place in LHC but prices need to drop significantly (ie like pre Covid). Even the low end garbage is priced higher now than what I bought my arrowhead house for. Its crazy money.

My girlfriend blames the greedy realtors for jacking up the home values. So we’ll leave her out of the home looking/buying process.

 

[AZLineman]

Yeah it seems like the realtors in LHC are killing it

 

[Tank]

I look at Zillow every day out there. Prices are still crazy but I do think the high interest rates are starting to set in. The Interest prime right on 700k is like 4k a month just in interest!!! That’s fuckin crazy.

We were like a butt hair away from
Signing in a house we agreed on at 1.35 a couple months ago but we decided not to do it and wait until I retire when we can use it more. So, hopefully prices will come down a bit more. We’ll se I guess. Other option is loto. I alway circle back to that old saying, “no purchase feels as good as money in the bank”.

 

[Good Stuff]

The short term rental market is just over saturated. They drove prices up thinking the 2020&21 covid vacation surge would continue and they could have free vacation houses instead of renting one for the few weekends they made trips. I have seen in the vacation owners group we run on FB how many are struggling and even saying they can’t break even if they don’t get $400+ for 10 nights a month. That’s been going on for about a year now and I think those people are selling and helping prices equalize to a healthier level.

 

[Englewood]

I am hoping to start an RV garage build. Waiting for things to cool a little bit more.

Me too. Not paying 150k for a basic rv garage.

 

[gqchris]

I've spoke to a couple realtors out there and they said inventory is way up, buyers are way down and AirBNB and VRBO is expected to falter except exceptional properties. We all saw this coming though. Supply and Demand. Wages in Havasu don't support property values and fewer people are moving there from California.

Dont let Dave hear you say that. He says he is still killing it!

 

[Englewood]

Dont let Dave hear you say that. He says he is still killing it!

The good agents always kill it. One thing I learned in my previous career owning an RE office is that the good agents always stay busy.

 

[Boatymcboatface]

I've spoke to a couple realtors out there and they said inventory is way up, buyers are way down and AirBNB and VRBO is expected to falter except exceptional properties. We all saw this coming though. Supply and Demand. Wages in Havasu don't support property values and fewer people are moving there from California.

Would you say you’re holding on to your hat?

 

[dirtslinger2]

I'd love to start looking for a retirement place in LHC but prices need to drop significantly (ie like pre Covid). Even the low end garbage is priced higher now than what I bought my arrowhead house for. Its crazy money.

My girlfriend blames the greedy realtors for jacking up the home values. So we’ll leave her out of the home looking/buying process.

Check out Golden Shores, it's still cheap, and you can get some decent size lots. Launching is close and easy, and Offroading right out of your yard.

 

[DarkHorseRacing]

Check out Golden Shores, it's still cheap, and you can get some decent size lots. Launching is close and easy, and Offroading right out of your yard.

Thanks!

 

[dirtslinger2]

Thanks!

We don't have a full on grocery store, but we have 5 bars!

We also have no traffic signals, and it's still a little lawless

 

[COCA COLA COWBOY]

Would you say you’re holding on to your hat?

I think it's best to buy when it makes financial sense. I'll leave it at that. A few experts will chime in on what that means and even more people that know nothing will give their .02.

I don't believe real estate should ever be sold unless it's imperative. Unfortunately, during 2009-2013 I did bank foreclosures and was kicking out a certain demographic from their home and another demographic was buying. It was pretty sad. We won't see that again in our lifetime unless government supports large corporations and they do this on purpose. I know there are a couple corporations that would love for another crisis to evolve.

 

[COCA COLA COWBOY]

Dont let Dave hear you say that. He says he is still killing it!

You'll never hear an agent say they aren't killing it. It's sales. However, Dave and Stacy are in a position where changes to their numbers will affect them very little.

 

[throttle]

The last time this caught my attention (a couple months back), I remember seeing over 300 homes for sale in town, not sure what that number is today. I seem to get emails almost daily about price drops/cuts. For sale signs up everywhere. Just an observation.

 

[Havasu blue label]

I think it's best to buy when it makes financial sense. I'll leave it at that. A few experts will chime in on what that means and even more people that know nothing will give their .02.

I don't believe real estate should ever be sold unless it's imperative. Unfortunately, during 2009-2013 I did bank foreclosures and was kicking out a certain demographic from their home and another demographic was buying. It was pretty sad. We won't see that again in our lifetime unless government supports large corporations and they do this on purpose. I know there are a couple corporations that would love for another crisis to evolve

Perfect statement

 

[Hardly Satisfied]

I am hoping to start an RV garage build. Waiting for things to cool a little bit more.

Same here. I got 2 bids and they were 235000 and 242000. For a 80’ garage with retaining wall and some dirt fill. I’m going to also wait and do owner builder

 

[SkyDirtWaterguy]

Just my opinion but……Home prices in Havasu are not coming down.

Affordability may increase as interest rates come down, but I don’t see prices dropping much.

A house down the street from me just sold for 1.1 and I could not believe it!

 

[FreeBird236]

IMHO new construction is not coming down and houses for the wealthy are continuing to rise, but some under the million mark are dropping slightly.

 

[Bpracing1127]

As someone who rents STR in havasu. People are sky high with prices there. 400-600 night for basic 3/2 is insane.

No wonder they are are empty. I usually get my pick of the litter and I am looking for best value.

To give an example I rented a place for 385 total for 3 nights with boat/trailer parking and a pool. 2/1 too

So for those that want 400 a night for that same setup need to cut their price in half or more.

I would love to get into a house there but damn 400+ for entry level is hard to do

 

[zhandfull]

I would love to get into a house there but damn 400+ for entry level is hard to do

Probably not as good an investment as a stick built home. But for those looking for a second vacation home in Havasu. Something like this below on owned land provides a good value in todays market. Listed for $300k! Motivated seller - someone picked it up for 150k a few months later.

https://www.zillow.com/homedetails/3058-William-Dr-Lake-Havasu-City-AZ-86404/8344711_zpid/

 

[Bpracing1127]

Probably not as good an investment as a stick built home. But for those looking for a second vacation home in Havasu. Something like this below on owned land provides a good value in todays market. Listed for $300k! Motivated seller - someone picked it up for 150k a few months later.
View attachment 1459219

https://www.zillow.com/homedetails/3058-William-Dr-Lake-Havasu-City-AZ-86404/8344711_zpid/

Problem that’s all cash. Can’t finance those

 

[Dannyo]

What's crazy are the prices and homes in Riviera popping up! Who is gonna buy those?

 

[SOCALCRICKETT]

Problem that’s all cash. Can’t finance those

Are they able to qualify for traditional financing if they are on a permanent foundation?


I've always wondered about ppl that buy land a plop a prefab down, there has to be some type of program for those guys right?

 

[Orange Juice]

Are they able to qualify for traditional financing if they are on a permanent foundation?


I've always wondered about ppl that buy land a plop a prefab down, there has to be some type of program for those guys right?

I think it’s 10 years, then it’s too old to finance.

 

[angiebaby]

Are they able to qualify for traditional financing if they are on a permanent foundation?


I've always wondered about ppl that buy land a plop a prefab down, there has to be some type of program for those guys right?

Yes. They get mortgages on them. FHA, I believe. I know several people who have done that over the years, including my grandparents and an uncle in Kansas.

https://www.bankrate.com/loans/personal-loans/how-to-buy-a-mobile-home/#options

 

[Orange Juice]

Maybe it’s just me but I see more nice places suddenly for sale then usual. Did the VRBO/Airbnb rules change? Or are people just trying to liquidate before prices drop (hopefully) ? Definitely some nice pads for sale but IMO still way overpriced. I guess if I was coming from Newsom land prices would seem good. I don’t even know how people in the service industry or any other normal trying to make it jobs afford to live there anymore. Lol.

There’s going to be some interesting times.

PPP money is where the “Covid real estate” bubble came from, as well as all the toys. The timing was perfect, as interest rates were super low. The signal I’m waiting for is the “cash out squeeze”, when the free money runs out. It’s been 5 years…..

 

[dirtslinger2]

Are they able to qualify for traditional financing if they are on a permanent foundation?


I've always wondered about ppl that buy land a plop a prefab down, there has to be some type of program for those guys right?

My friends just bought a mobile home in Golden Shores beginning of the year, they financed half of it. It was, I think 300K.

 

[Havasu blue label]

We call fake ballers .

 

[cofooter]

There’s going to be some interesting times.

PPP money is where the “Covid real estate” bubble came from, as well as all the toys. The timing was perfect, as interest rates were super low. The signal I’m waiting for is the “cash out squeeze”, when the free money runs out. It’s been 5 years…..

Would have to think there would need to be a pretty significant economic downturn for that to happen, including lots of job losses. The economy continues to chug ahead.......... but scratching my head thinking we're overdue.......

 

[JFMFG]

People saying waiting for the ppp money to run out have me scratching my head. That shit is long gone .

 

[Havasu blue label]

People saying waiting for the ppp money to run out have me scratching my head. That shit is long gone .

Yes it is . Now there monthly income kicks in

 

[JFMFG]

Yes it is . Now there monthly income kicks in

I actually think a lot of people are hurting the media just doesn’t want people to know how shitty the economy is right now. Numerous vendors are dead have people out knocking on doors again. Unemployment is up average Americans don’t even have 1,000.00 in savings. I do see home prices in havasu dropping. Just give it time.

 

[zhandfull]

Problem that’s all cash. Can’t finance those

At 150k - that’s barely over a down payment on 500k house.

 

[Orange Juice]

People saying waiting for the ppp money to run out have me scratching my head. That shit is long gone .

The second home “idea” is getting expensive, even with VRBO.
The toys are old. The vacation home needs work. All the vehicles need service. The walls are closing in. Some are hoping for some kind of Trump relief.

Yup, the PPP money is gone.

Most who spent PPP money on boats and second homes, probably didn’t take delivery until 2022/23/24.

I’ve noticed a bump in listings on homes I call “PPP loan investments”, in my area of Phoenix.

It’s Christmas/Holiday season, so nothing is selling.

If VRBO interest drops off, and prices stabilize in 2025, the short end of the real estate market could explode to the downside.

 

[ChrisV]

Glad we bought our place in Parker beginning of the year. Havasu woulda been nice but can’t win them all.

 

[DWC]

The second home “idea” is getting expensive, even with VRBO.
The toys are old. The vacation home needs work. All the vehicles need service. The walls are closing in. Some are hoping for some kind of Trump relief.

Yup, the PPP money is gone.

Most who spent PPP money on boats and second homes, probably didn’t take delivery until 2022/23/24.

I’ve noticed a bump in listings on homes I call “PPP loan investments”, in my area of Phoenix.

It’s Christmas/Holiday season, so nothing is selling.

If VRBO interest drops off, and prices stabilize in 2025, the short end of the real estate market could explode to the downside.

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

Lots of lookie loos looking at properties online in Phoenix. Feels like an interest rate drop or two and we will have a strong spring. We will see

www.riverdavesplace.com

 

[JFMFG]

The second home “idea” is getting expensive, even with VRBO.
The toys are old. The vacation home needs work. All the vehicles need service. The walls are closing in. Some are hoping for some kind of Trump relief.

Yup, the PPP money is gone.

Most who spent PPP money on boats and second homes, probably didn’t take delivery until 2022/23/24.

I’ve noticed a bump in listings on homes I call “PPP loan investments”, in my area of Phoenix.

It’s Christmas/Holiday season, so nothing is selling.

If VRBO interest drops off, and prices stabilize in 2025, the short end of the real estate market could explode to the downside.

The other issue is communities are trying to outlaws the VRBO air bnb thing. I personally don’t wish for anyone to lose money on something. That is what happens when you impulse buy and don’t think long term. Well stated on your thoughts about service, insurance, and cost to use the toys.

 

[OldSchoolBoats]

STR bookings are WAY down! We have felt it big time. Always have had a very low priced rental and it has sat idle, but with a $250k mortgage at 2.99, it doesn't affect us much because the payment is so low.

A lot of houses were bought during 2020 - 2022 just for STR and the market got flooded so these folks are dropping their nightly rate, making much nicer houses more attractive then ours. These folks are sitting on $3000+ a month mortgages, so are just trying to bring in cash enough to make half of the mortgage payment. Electricity has jumped immensely, plus cleaning fees, cable/internet and pool maintenance, it's almost another $500 - $700 / month.

Have seen a few posts recently where STR owners are selling all the furniture in their homes in order to put long term renters in. There is definitely a shift happening in Havasu as there are quite a few listing's in our area that I saw last time out.

 

[gqchris]

I feel like the boating lifestyle that Havasu offers is aging out as my generation gets older and the boomers are slowly phasing out.

I can say for certain that the younger guys give two shits about performance boating and unless they were raised into the lifestyle, no one cares.

Covid brought a revival and lots of new boaters were “born”. But then they realized that this shit is expensive and the juice isn't worth the squeeze half the time.

 

[angiebaby]

I feel like the boating lifestyle that Havasu offers is aging out as my generation gets older and the boomers are soowly phasing out.

I can say for certain that the younger guys give two shits about performance boating and unless they were raised into the lifestyle, noone cares.

Covid brought a revival and lots of new boaters were “born”. But then they realized that this shit is expensive and the juice isnt worth the squeeze half the time.

We've been saying this for years. When the boomer snowbirds age out, this town will lose a lot of $$$. Californians don't go to the hardware store, beauty shop, barber shop, happy hour four times a week, etc. We met with some friends from SoCal a couple of weeks ago who have a condo in the channel. They brought all of their groceries and booze with them.

We went to Cha-Bones on Wednesday. The ENTIRE restaurant was grey-haired people and it was completely full. I wondered what it looked like mid-week during the summer.

 

[pkrrvr619]

I feel like the boating lifestyle that Havasu offers is aging out as my generation gets older and the boomers are soowly phasing out.

I can say for certain that the younger guys give two shits about performance boating and unless they were raised into the lifestyle, noone cares.

Covid brought a revival and lots of new boaters were “born”. But then they realized that this shit is expensive and the juice isnt worth the squeeze half the time.

That’s an interesting point. I wonder if the performance boat manufacturers see a younger demo at all that weren’t raised into it.