LHC Real Estate

[Cole Trickle]

We will see.. I think I might have squeaked in a a pretty good deal thanks to Paul65K!


I'm glad we pulled the trigger on our place a few years ago though.

There are still some deals and I think you did good but anything above say 350k let alone 550k is kind no of out there as an investment/rental property.

 

[RiverDave]

Kilrtoy and Phebus. Rick once told me moving to Havasu was a mistake. It took away his vacation home and the fun ran out.

well there ya go!

I could go back and forth on the Kilroy thing but why..

 

[LargeOrangeFont]

There are still some deals and I think you did good but anything above say 350k let alone 550k is kind no of out there as an investment/rental property.

I think those are the properties that have experienced the most price growth. The entry level end has gone up, but not as aggressively. The stuff I have been looking at for a year has only had a small price increase.

 

[Ziggy]

I think those are the properties that have experienced the most price growth. The entry level end has gone up, but not as aggressively. The stuff I have been looking at for a year has only had a small price increase.

House across the street from me sold for $200k in May. They spent all summer rehabbing it and just listed it at $349k. It has a great lake view straight out the back. 3bd/3ba, Pool and garage space. One bedroom and bath is a casita/granny flat.

 

[LargeOrangeFont]

House across the street from me sold for $200k in May. They spent all summer rehabbing it and just listed it at $349k. It has a great lake view straight out the back. 3bd/3ba, Pool and garage space. One bedroom and bath is a casita/granny flat.

I should have done that and moved on up . That is impressive.

Am I incorrect? Has the entry level price point gone up significantly too?

 

[mjc]

even easier, pay cash for the lot, sign it over to the bank and use the banks money for the construction loan

What kind of Cash outlay does this take now days to get started through completion?

 

[PaPaG]

Is it just me or are the home prices going crazy up there?

Yup they sure are....and when the bubble bursts again they will drop like fly's. (I do not want to see that happen but it is going to that is for sure). I hope it is just a small bubble hopefully under 10%...

 

[SummitKarl]

I thought it was just me. I started looking end of last year in preparation to buy this year. Sadly, I think I've missed my window now. Some of the same houses (comporable) that I looked at 10 months ago are up 10+% and its put them just out of my reach for what I was looking for in a 2nd home. The goal was to retire here in about 15 years but buy it now and use it as a vacay home and maybe do the snowbird thing. I am just not comfortable now at the payment I'd need to get what I want in a long term home.

PM me your budget and requirements, maybe I can get something built or at least give you some solid numbers

 

[SummitKarl]

What kind of Cash outlay does this take now days to get started through completion?

your about 70-80k cash out of pocket to do a spec

 

[hallett21]

your about 70-80k cash out of pocket to do a spec

From money down how long is it taking from plans going through building department to framing?

 

[mjc]

your about 70-80k cash out of pocket to do a spec

Too close to retirement to risk that much right now I think. Maybe find a partner i could swing that kind of project

 

[TCHB]

Kilrtoy and Phebus. Rick once told me moving to Havasu was a mistake. It took away his vacation home and the fun ran out.

We have lived here over 3 years now and boat more than we lived in California. We golf over 100 rounds a year. Go to the dunes at least 6 trips. This place is a great place to live if you like to keep busy and like warm summer temps.
Going down to check out the Jet Ski Races on Wednesday, Friday night high school football and then Saturday night is opening night at Havasu 95! This place will make you tired.

Today lots of air traffic noise. Air force fighter jets playing up above!

In three years I have went back to California 4 days!
Here is a picture looking at the lake today from the living room.

 

[shintoooo]

Here's a good flip or weekend house. 45ft garage.

I was asked to remove the listing due to potential sale going through soon

 

[Bpracing1127]

I looked at that house shintoo. It's really bad. Complete tear down and the area blows as well

 

[boatpi]

these housing price increases are not too far off of Las Vegas over the past 3 years. In Vegas they are building thousands of apartments, many up scale.

 

[Cole Trickle]

Here's a good flip or weekend house. 45ft garage.



great weekender that you could rent for $100 a night.

That's a good deal for someone that's handy.

 

[SummitKarl]

From money down how long is it taking from plans going through building department to framing?

3 weeks for me to get it to the city, 2-3 weeks at the city, 2-3 weeks for concrete (back logged) and 2 weeks framing
or
6-7months, from "Karl go" - Certificate of Occupancy

if HOA no promises

 

[DC-88]

I guarantee, long term you will regret ever selling your house in Seal Beach, and you'll never be able to get back there.

I can't speak to the "never be able to get back" part, but totally agree on the regret. Beach property is hard and expensive to develop, has many increasing fees and long wait times associated with building , and they definitely aren't making any more of it. Mine is the last thing I'd sell, and is a great investment IMO. Think about the monthly rent that a nice place at the beach will bring 20 years from now in relation to what % of monthly bills as a retiree in say, Havasu that rent could cover. Add in the appreciation which over 20 years is very likely and unless I had to, selling would be a last resort.

 

[Heylam]

River Lynchmob, could you please post a link to your Seal Beach home? I grew up in Huntington Beach and would love to end up back north in Seal Beach some day. Doubt I could afford it, but in my opinion, Seal Beach is the nicest beach community in Orange County.
Thanks

 

[River Lynchmob]

3 weeks for me to get it to the city, 2-3 weeks at the city, 2-3 weeks for concrete (back logged) and 2 weeks framing
or
6-7months, from "Karl go" - Certificate of Occupancy

if HOA no promises

That there is impressive!

 

[River Lynchmob]

River Lynchmob, could you please post a link to your Seal Beach home? I grew up in Huntington Beach and would love to end up back north in Seal Beach some day. Doubt I could afford it, but in my opinion, Seal Beach is the nicest beach community in Orange County.
Thanks

No worries...here you go.

http://www.realtor.com/realestateandhomes-detail/236-4th-St_Seal-Beach_CA_90740_M18859-07115

 

[SummitKarl]

these housing price increases are not too far off of Las Vegas over the past 3 years. In Vegas they are building thousands of apartments, many up scale.

low cost housing has it's niche, many property classes changed in Havasu in February allowing for more multiples and height restrictions lifted for those lots. like I said earlier I barely got out of the PreApp meeting with the city for 20 duplexes and the owner was getting rental requests.

another niche that needs filled in Havasu for new home construction is the NON-RV home. ie just the plane old 3-4car with a boat deep bay, got 2 going up now should know for sure in 60 days if my hunch is right because not everyone owns a Prevost coach and a DCB

 

[rivrrts429]

No worries...here you go.

http://www.realtor.com/realestateandhomes-detail/236-4th-St_Seal-Beach_CA_90740_M18859-07115

That's a nice pad and stellar location. Crazy that you're sitting on it with little interest. I don't know shit about real estate but that looks like prime real estate.

 

[TBulger]

No worries...here you go.

http://www.realtor.com/realestateandhomes-detail/236-4th-St_Seal-Beach_CA_90740_M18859-07115

Holy geez, couldn't get me out of there with a bulldozer.

 

[River Lynchmob]

That's a nice pad and stellar location. Crazy that you're sitting on it with little interest. I don't know shit about real estate but that looks like prime real estate.

Have a ton of interest...open houses are packed, brokers bringing their clients but no one has pulled the trigger. Homes in this price range are sitting for about 155 days on average.

Holy geez, couldn't get me out of there with a bulldozer.

Thanks Tom...I don't really want to leave but it is better for the kids and the wife so...we move...lol.

 

[LargeOrangeFont]

Have a ton of interest...open houses are packed, brokers bringing their clients but no one has pulled the trigger. Homes in this price range are sitting for about 155 days on average.



Thanks Tom...I don't really want to leave but it is better for the kids and the wife so...we move...lol.

You know why it has not sold.. Your agent is only working for 1%.

 

[Bobby V]

We have lived here over 3 years now and boat more than we lived in California. We golf over 100 rounds a year. Go to the dunes at least 6 trips. This place is a great place to live if you like to keep busy and like warm summer temps.
Going down to check out the Jet Ski Races on Wednesday, Friday night high school football and then Saturday night is opening night at Havasu 95! This place will make you tired.

Today lots of air traffic noise. Air force fighter jets playing up above!

In three years I have went back to California 4 days!
Here is a picture looking at the lake today from the living room.

Yes that would be great. But in Ricks case and his bad back. Golf, boating and duning wasn't going to happen. You also checked the right boxes on moving to Havasu. Bring someone you can have fun and get along with and most important bring your own money. Your not going to make any $$$ in Havasu.

 

[JB in so cal]

Shoot. I'd be happy paying cash for a place and getting part time work at Depot or Lowes a few days a week for gas money...dunno

 

[TCHB]

Yes that would be great. But in Ricks case and his bad back. Golf, boating and duning wasn't going to happen. You also checked the right boxes on moving to Havasu. Bring someone you can have fun and get along with and most important bring your own money. Your not going to make any $$$ in Havasu.

Here in this small town if you want to make good money you will need to open your own company. I know I could start a electrical contracting company with about 10 guys and 5 trucks but I do not want to work. I am too busy being retired.

 

[37 boat]

New home construction is definitely on the rise, most of the spec homes are delivering up to $100k or more profit.
3bdr 2.5ba 2k sqft RV your about $350k-ish in (with lot) and your about $440 - $460k out and they are selling well within 30 days of listing if not sold at framing
the market is hot...very hot, I would expect it to continue and get better through this years snowbird season
City building department is continuing it's 1 new Residential Single Family permit per day average for well over a year now and the numbers are actually steady at about 28-34 new RSF permits per month.

I have a low cost housing projects going on the south side (20- duplexes) but as soon as word got out the renters started lining up before the plans are even done

Commercial is also busy at a steady pace with 4 new restaurants and several major remodels

I can't predict the future but the next 6-9 months look good unless something scares the banks

Just finished this spec...starting the second one as soon as this closes (already purchased the dirt). Thanks Karl!

http://www.zillow.com/homedetails/3593-Hollister-Dr-Lake-Havasu-City-AZ-86406/104049768_zpid/

 

[Nord]

Here's my opinion.
Lynch don't sell your seal beach house. Stay there. That property will hold its value or go up. If there is a balloon that pops, it will dip in value the least.

Houses are overpriced everywhere. They can ask whatever they want for price but closing prices are the only real meter. One of the tell tell signs of a house that's prices too high is how long it sits on the market. Which is what I'm seeing everywhere. Lots of houses for sale for longer periods of time. Then they close at a lower price.

People who want to sell high and buy low never seem to make that work. It's all relative. You sell a house you buy a house. Both prices of selling and buying are relative to the market so it's a wash. Or they try to wait it out and when prices of homes go down, loans are more stringent and mortgage rates go up.

Furthermore, I've never heard a RE agent say now is not the time to buy. It's always the perfect time to buy lol

Plain and simple but what would I know.

 

[COCA COLA COWBOY]

I think you have to wait until after the elections to see what's going to happen. In my opinion, if Trump is elected, there will be a correction in the stock market and real estate prices. If Hillary is elected, both markets will continue to go up and then you'll see an even larger crash down the line.

You actually have it backwards. If Hilary gets in, we will get the crash shortly. If Trump gets in, we would get another bump in prices for a year or two then it will crash. No matter what a correction is coming.

 

[COCA COLA COWBOY]

yep....We didn't learn anything from the last go around. Prices are back to what they were at the peak of 05/06 in a lot of areas.

My clients are refinancing there homes like crazy and adding pools, remodeling,paying off CC debt etc....

I'm having flash backs...

Me too! It's like people didn't learn a thing! I have a few friends that are in a holding pattern and will be buying to their hearts content in about 2-3 years. I'm included in this.

 

[Singleton]

yep....We didn't learn anything from the last go around. Prices are back to what they were at the peak of 05/06 in a lot of areas.

My clients are refinancing there homes like crazy and adding pools, remodeling,paying off CC debt etc....

I'm having flash backs...

Bad ideas, and seeing it often. I refi'd to get a lower rate and shorter term. Payment is the same but less years in the loan.

 

[Nord]

Never pull money out of your home. A home is a home.

 

[G. Faulk]

No worries...here you go.

http://www.realtor.com/realestateandhomes-detail/236-4th-St_Seal-Beach_CA_90740_M18859-07115

Do not sell that place you will kick yourself one day, mark my words. Investment for your kids, and close to the beach in Cali. Don't do it.

Fing Baller:

 

[G. Faulk]

Shoot. I'd be happy paying cash for a place and getting part time work at Depot or Lowes a few days a week for gas money...dunno

LOL.... That's a pool guy talking right there.

 

[SummitKarl]

Just finished this spec...starting the second one as soon as this closes (already purchased the dirt). Thanks Karl!

http://www.zillow.com/homedetails/3593-Hollister-Dr-Lake-Havasu-City-AZ-86406/104049768_zpid/

Hey Randy,
no chit, Wade is just too damn secretive LOL
nice job on that shower I think :thumbsup, it won't be listed for long
glad to hear you took the plunge.

now when do we start on that pantera

 

[SummitKarl]

You actually have it backwards. If Hilary gets in, we will get the crash shortly. If Trump gets in, we would get another bump in prices for a year or two then it will crash. No matter what a correction is coming.

it's always coming might be 2 days or 10 years no one knows that is why it's a free market, everyone thinks they know but they don't, speculation kills anything, anytime especially with chicken little's running around "oh I know when the sky is falling":rolleyes

I don't see the election having that much to do with Havasu's market, it's being fueled by retiring Baby Boomers right now which started in 1947 and ended in 1964 and that is a butt load of people looking to retire soon that have already made their nest egg, so Havasu and places like it should thrive for sometime to come one would think.

 

[37 boat]

Hey Randy,
no chit, Wade is just too damn secretive LOL
nice job on that shower I think :thumbsup, it won't be listed for long
glad to hear you took the plunge.

now when do we start on that pantera

Thanks Karl, house turned out bitchen...I've been rockin and rollin on the Pantera making progress but it's a long road.

 

[COCA COLA COWBOY]

it's always coming might be 2 days or 10 years no one knows that is why it's a free market, everyone thinks they know but they don't, speculation kills anything, anytime especially with chicken little's running around "oh I know when the sky is falling":rolleyes

I don't see the election having that much to do with Havasu's market, it's being fueled by retiring Baby Boomers right now which started in 1947 and ended in 1964 and that is a butt load of people looking to retire soon that have already made their nest egg, so Havasu and places like it should thrive for sometime to come one would think.

You'd think Palm Desert would be killing it then? They have actually felt a small decline lately. A couple other markets have slowed as well. Metropolitan areas in Southern California for the most part are still escalating, but everyone I speak to in the industry is aware of a soon to befall us decline. I definely appreciate a positive outlook, but I follow the affordability index with my statements which historically has predicted every decline. I'd be more than happy to post 100 page outlooks from economists, but that would probably be overkill for most that attend the site.

 

[Roaddogg 4040]

New home construction is definitely on the rise, most of the spec homes are delivering up to $100k or more profit.
3bdr 2.5ba 2k sqft RV your about $350k-ish in (with lot) and your about $440 - $460k out and they are selling well within 30 days of listing if not sold at framing
the market is hot...very hot, I would expect it to continue and get better through this years snowbird season
City building department is continuing it's 1 new Residential Single Family permit per day average for well over a year now and the numbers are actually steady at about 28-34 new RSF permits per month.

I have a low cost housing projects going on the south side (20- duplexes) but as soon as word got out the renters started lining up before the plans are even done

Commercial is also busy at a steady pace with 4 new restaurants and several major remodels

I can't predict the future but the next 6-9 months look good unless something scares the banks

Hey Karl, Looks like my wife wants to move closer to the grand kids. So, my place might be coming on the market after we both get healed up a little more. Just wanted to let you know...

Steve

 

[37 boat]

You'd think Palm Desert would be killing it then? They have actually felt a small decline lately. A couple other markets have slowed as well. Metropolitan areas in Southern California for the most part are still escalating, but everyone I speak to in the industry is aware of a soon to befall us decline. I definely appreciate a positive outlook, but I follow the affordability index with my statements which historically has predicted every decline. I'd be more than happy to post 100 page outlooks from economists, but that would probably be overkill for most that attend the site.

No need for a 100 pages...just the links would be fine.

 

[MSum661]

I definely appreciate a positive outlook, but I follow the affordability index .

Smart man.
That saved a lot of people from financial disaster for those that took that particular index serious and temporarily rotated back out in '05-'06.
At one point it got down into the low teen's in the So. Cal. surrounding area's right about the time Lehman took a bath. It was the one clear indicator.

We're not there yet...but pick an area and run a title search on the upper end and you have to wonder how long before the market starts to adjust given the debt some are carrying. Just something to watch over.

 

[SummitKarl]

You'd think Palm Desert would be killing it then? They have actually felt a small decline lately. A couple other markets have slowed as well. Metropolitan areas in Southern California for the most part are still escalating, but everyone I speak to in the industry is aware of a soon to befall us decline. I definely appreciate a positive outlook, but I follow the affordability index with my statements which historically has predicted every decline. I'd be more than happy to post 100 page outlooks from economists, but that would probably be overkill for most that attend the site.

I am no economist that's for sure, I am just speaking from what I am seeing in my local market is being fueled by baby boomers from all over, as for California I would not expect to see it prosper for RSF homes for retirees. I would expect it to be stagnate and unobtainable for most Boomers with permit cost easily exceeding $20k, plans at $10k, coastal commission fees at some ungodly number, plus a host of other California fees and your most likely at $100k in paper before you even get started. I would think that the more affordable areas of the country will prosper as the boomers retire and want value in return for what they spent their lives earning. If I were to hedge a bet I would put it on Arizona, Florida and Texas as seeing the shift in the wealth from the boomers landing square in those states, and for the still working class I think the Dakotas will be hot as long as oil stays at or above $45bbl

 

[BHC Vic]

it's always coming might be 2 days or 10 years no one knows that is why it's a free market, everyone thinks they know but they don't, speculation kills anything, anytime especially with chicken little's running around "oh I know when the sky is falling":rolleyes

I don't see the election having that much to do with Havasu's market, it's being fueled by retiring Baby Boomers right now which started in 1947 and ended in 1964 and that is a butt load of people looking to retire soon that have already made their nest egg, so Havasu and places like it should thrive for sometime to come one would think.

I disagree. W the election i think people will start pulling their money out of be banks to go live where they want and spend it. There are too many baby boomers and if they all start to try and get their money's we will crash again. The baby boomers are going f to kill my generation. Which ironically they already have by the way they raised them [emoji23]

 

[Raffit78]

Might be a dumb question, but I would love to own a Havasu house in the near future, but a few things I have not discussed with our accountant is taxes. Being that it's in Az. How do taxes work? Obviously can't be applied towards your ca taxes correct?

So you simply pay your mtg and without owning a business in az. You are not essentially getting any tax benefits?

(I know zero on this topic)

 

[Bobby V]

Might be a dumb question, but I would love to own a Havasu house in the near future, but a few things I have not discussed with our accountant is taxes. Being that it's in Az. How do taxes work? Obviously can't be applied towards your ca taxes correct?

So you simply pay your mtg and without owning a business in az. You are not essentially getting any tax benefits?

(I know zero on this topic)

When I bought my first house in Havasu 30 years ago I set it up has a rental property. I have had a snowbird for all these years also. I have written off all my utilities, property taxes and any improvement that are allowed over the years and it has helped with my tax returns. Back then I thought it was a good idea. When I sold that house and bought another in Havasu I had to put the money in a 1031 exchange. So now if I want to sell and take the money, I either have to buy another property or pay the taxes.

 

[rivrrts429]

When I bought my first house in Havasu 30 years ago I set it up has a rental property. I have had a snowbird for all these years also. I have written off all my utilities, property taxes and any improvement that are allowed over the years and it has helped with my tax returns. Back then I thought it was a good idea. When I sold that house and bought another in Havasu I had to put the money in a 1031 exchange. So now if I want to sell and take the money, I either have to buy another property or pay the taxes.

I'm looking at going this direction. I need the tax shelter. Good info to know.

Not sure if it will be Havasu as I haven't decided if I want it to be pure rental where I never see it and it's out of sight out of mind or a snowbird/winter and personal vacation/summer type deal.

 

[COCA COLA COWBOY]

No need for a 100 pages...just the links would be fine.

No links, I go to Southern California Economist events. Unfortunately, the power points are not provided, but I do have some cell phone pictures. The handout booklets are in hand, but I'd need to scan them all in.