For other parts of the US, October means a changing of the leaves and chillier weather. In Lake Havasu City, it means temperatures in the 90s for the most, with the last of the triple-digits beginning to fade away. Even our local real estate market remains hot, hot, HOT! According to the Septembe...
Is Now a Good Time to Buy a Havasu Investment Property?
(Coldwell Banker Residential Brokerage)
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For several months now, the Lake Havasu real estate market fell squarely in the seller's favor. Once Governor Ducey opened the state back up, home sales exploded. Last month's total sales eclipsed August 2019's sales by over 25%. And sale prices hit their highest median ever. But millions of peop...
Usually, our Lake Havasu real estate market starts the year off mild and begins to pick up around spring (April/May). This year, thanks to COVID, we experienced a very tepid spring. But summer heated up in more ways than one. As Arizona began to open back up, people came out of hibernation. And t...
In the real estate industry, you play a lot of "hurry up and wait". You rush around trying to find the right property. When you do find "the one", you rush to put in an offer. Once the offer is accepted, you enter escrow. Then, you wait. I've provided a sort of Havasu home closing timeline below ...
Home sales figures and the median sale price hit their highest point of the year, according to the Lake Havasu Market Report for July 2020. Unfortunately, our inventory continues its deep dive. Until we see more listings hit the market, prices will continue to rise. That's great news for sellers ...
Even with COVID-19 affecting how we go about our daily lives, the Lake Havasu real estate market trudges on. Just last month, Havasu home sales saw an increase of more than 50% from May as the governor began to open up more Arizona businesses. If you're in the market for a new property, avoid the...
In late May, Governor Ducey began reopening the state back up. Our June 2020 Lake Havasu Market Report numbers show it, too. After four months of lower year-over-year numbers, last month's home sales finally showed a marked increase over last year's. How did the rest of the market perform? Read o...
COVID-19 concerns created record numbers of unemployment claims. Millions of people lost their jobs or found themselves with severely decreased hours each week. This impacted their finances, making it difficult to keep up with their mortgage payments. Banks found a serious increase in requests fo...
So far, 2020 has proven a bit difficult for most Americans. Even though home sales started off really well in January, COVID-19 concerns shuttered several businesses. This left many local residents jobless. Buying a Havasu home amid a nationwide shutdown wasn't necessarily at the top of many peo...
Money probably hits at or near the top of your list when you think about buying a new home. But there's so much more to purchasing a property than that. Square footage. Amount of bedrooms/bathrooms. Garage size. Swimming pool. Neighborhood. Inventory may be low right now on the local real estate ...
We're starting to see a little light at the end of the Coronavirus tunnel right now. The governors of many states across the country, including Arizona, started laying out their plans to open up businesses and get people back to work in phases. They hope their tiered plan of opening up keeps COVI...
Virtual Househunting: The New Way to Look for a Havasu Home
(Coldwell Banker Residential Brokerage)
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Even during a pandemic, people still need homes. Just last month, 208 properties were sold in Lake Havasu City alone. But with social distancing orders in place here in Lake Havasu, REALTORS® no longer conduct open houses or offer in-house tours. Therefore, virtual tours and on-line photographs b...
We are living in some unprecedented times right now. Who would have thought major cities like New York, San Francisco, Los Angeles, and Seattle would virtually shut down? With a global pandemic like COVID-19, businesses, organizations, and individuals must navigate a "new normal". The mayor asked...
Low inventory partnered with low-interest rates makes this a very interesting time in the Havasu real estate market. Buyers want to take advantage of the historically low sub-4% rates. But low inventory levels help keep prices up ($279,500 median sale price for February 2020). When it comes to Ha...
We appear to be on track for a fantastic first quarter in the Lake Havasu real estate market. According to the Lake Havasu Market Report for February 2020, sales were down slightly from last year but prices went up. Continued low inventory levels help push prices higher. Exactly how did the marke...
Conventional. FHA. Fifteen-year. Thirty-year. Fixed-rate. Adjustable-rate. Who knew Havasu home buyers had so many options when it came to financing a mortgage? No matter which one you choose, unless you put down 20% or more, you end up paying PMI (private mortgage insurance). And can add a coupl...
New year, new market? The Lake Havasu Market Report for January 2020 showed that sales definitely saw a huge uptick from the previous January. Sale prices hit their highest point ever. And inventory remains low but stayed pretty even from the close of last year. Read on to see how the market perf...
In the early 2000's, banks seemed to lend money to just about anyone who wanted to buy a home...regardless of their credit history. After the real estate bubble burst, though, lenders tightened up their purse strings considerably. It seemed that they would only lend money to those with excellent ...
I hope everyone enjoyed themselves with their loved ones over the past few weeks. Now that the holidays are over, we can get on about our regular business. 2019 came in with a whimper and went out with a bang as far as the real estate market is concerned. According to the Lake Havasu Market Repor...
With less than a week left in 2019, it's time to get out the crystal ball and take a look into the future of the real estate market for next year. Keep in mind that the "experts" get things wrong, too. Nothing's set in stone. With the political climate at a hot point and a presidential election s...
