Lake Havasu City, AZ Real Estate News

By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Who's getting ready for Thanksgiving? It's only two weeks away. Then, less than a month after that...Christmas! It seems as if the years go faster and faster the older I get. The stats for the Lake Havasu Market Report for October 2019 are in. For the second month in a row, prices and sales both went up. Meanwhile, inventory remained relatively unchanged. How might this affect our local market? Read on to find out.October 2019 Lake Havasu Market ReportOctober 2019 SalesLooks like sales went up for the second month in a row. Flex MLS reported that 184 homes were sold in Lake Havasu City in October 2019. That's 4% higher than the 177 sold at the same time last year. It also marks an 8.9% increase from September 2019's 169. May remains the highest month for sales with a total of 256. Pendi...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
"We Buy Houses for Cash". "We Buy Houses $$Fast Cash$$". "Sell Your House Fast". You've probably seen a variation or two of these signs posted somewhere in town. They promise to pay off your house quickly. But are these a sweet deal or should you say "no thanks"?We Buy Houses for Cash: Sweet Deal or No Dice?How They WorkUnlike a typical Lake Havasu home buyer, these are investors looking to buy low and sell high. Nothing wrong with that, right? Well, not if you're on the buying end. But, as the seller, you could be missing out on all that lovely equity you built up over the years. Typically, these guys prey on vulnerable sellers in a high-stress situation. Do you need to sell your house because your spouse died? Are you in danger of going into foreclosure? Have you filed for bankruptcy?...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
For several months now, mortgage rates have remained under 4%. If you purchased your Lake Havasu home last year, you may have paid close to 5%. Your home also may have shot up in value, giving you more equity. With interest rates staying low, you might want to consider refinancing your mortgage. But how do you know if mortgage refinance is right for you? Consider the following before making a decision.Mortgage RefinanceWhy Should You Refinance?Refinancing with a lower rate lowers your monthly payment. If you built up some equity, you might even be able to tap into that to consolidate debt. This helps when you accumulate debt with high-interest loans and credit cards. Let's say you have three credit cards at 12%, a student loan at 6%, and a car loan at 10%. You pay 4.5% on your mortgage ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
My, how time flies. Can you believe it's already October? All of the best holidays come in the last quarter of the year. The first biggie, of course, is Halloween. But why wait until the 31st to celebrate? Havasu Halloween 2019 offers several fun events going on between now and then. Which ones do you look forward to the most?Havasu Halloween 2019Haunted HousesThe Lab - Virtual Reality Escape puts on an amazing haunted house every Wednesday through Sunday from now until November 2nd. They set up their "lab" at 231 Swanson Ave, Suite 208. For $10 per person, walk through a haunted house that belongs on any Hollywood soundstage. Live actors and special animatronic props provide scares galore. For more info, contact The Lab at (928) 733-5049. A portion of the proceeds benefits local Havasu...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
It's already October. Can you believe it? As we enter the last quarter of the year, we also begin the slowest part of the year for the local real estate market. September 2019's Lake Havasu Market Report showed year-over-year sales, prices and inventory all saw gains. It's still a seller's market. Everyone, it seems, desires the Lake Havasu lifestyle.September 2019 Lake Havasu Market ReportSeptember 2019 SalesAccording to Flex MLS, our local multiple listing service, a total of 169 homes were sold in September 2019. This marked a 15.8% increase over the 146 sold in September 2018. Even so, this continued the month-over-month decline we've experienced since July. Pending sales rose 13.9% from last September (166 in 2018 vs 189 in 2019). However, that still registered slightly below the 1...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Some homeowners want to cash in on their equity created by rising Lake Havasu sale prices. Therefore, they decide to put their property on the market. However, some updates may be required in order to be competitive with other houses on the market. One of the most popular rooms to update is the kitchen. But before you sink big bucks into a complete overhaul, consider the kitchen preferences today's Lake Havasu homebuyer looks for.Kitchen Preferences of Today's Home BuyerCabinet ColorsThe National Association of Home Builders performed a study of Millennial Home Buying Preferences earlier this year. They compared what millennial home buyers look for in today's marketplace compared to the preferences of older generations (Seniors, Baby Boomers, and Gen X). Among other things, this include...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Tired of renting? Concerned that owning a Lake Havasu home might be out of the question right now? Stop. Homeownership may be easier than you think. In fact, you might qualify for a home right now and not even know it. Read through the checklist below to see if you should go out and look for your next home today.Lake Havasu Home Buying: Ownership is Within Your ReachIncomeBottom line, your earnings drive the budget for a new Lake Havasu home. However, you don't want to be "house poor", spending so much on a house payment that you can't afford to actually do anything else. To stay well within your means, financial experts suggest that you spend no more than two and a half times your annual household income on a house (including the amount you put down). In August, the median sale price f...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
In 1975, "Jaws" made everyone rethink swimming in the ocean. But we live by a lake. We're safe, right? Not according to "Pirahna 3D" (Havasu trivia: that movie shot right here in Lake Havasu City back in 2010). This summer, experience "Jaws 2" on the big screen...in the water...at Jaws Invasion Lake Havasu.What: Jaws Invasion Where: Rotary Community Park When: Saturday, September 28th, 3 pm to 11 pm Admission: $35 to $120 Contact: Positive Trim Clothing (951) 536-7846 or via emailJaws Invasion Lake HavasuOur brains know perfectly well that sharks will never roam our local lake waters. But our nerves feel something a little different, especially when you throw a movie like "Jaws 2" into the mix. Are the on-screen antics of a killer shark not enough to strike fear in your heart? Try watch...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Even though fall officially begins in a week and a half, we still experience triple-digit temperatures here in Lake Havasu City. So many people still flock to the water every weekend to enjoy the Lake Havasu lifestyle. After a few months of hot, hot, hot sales, the Lake Havasu Market Report for August 2019 showed sales begin to taper off. Prices haven't, though. Inventory levels decreased which contributed somewhat to the rising prices. And there doesn't seem to be a change coming anytime soon.August 2019 Havasu Market ReportLake Havasu Market Report - August 2019 SalesOur local multiple listing service (Flex MLS) reported a total of 194 homes sold in Lake Havasu City during the month of August 2019. That's a 13.4% downturn from the 224 sold the previous August. It's also 13.4% less tha...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Some homebuyers purchase a property with the intent of staying in it forever. Others consider it a stepping stone to something else down the road. Still others buy a property simply as an investment to sell for a profit as quickly as possible. But if you sell too soon, you may incur a Capital Gains Tax. What is that? When should you sell even though you would have to pay this tax?What is the Capital Gains Tax?When you sell your Havasu home, you must pay Capital Gains Tax on the profit you receive. For example, let's say you owe $100,000 on your house but sell it for $300,000. You stand to "gain" $200,000 in the deal. The IRS considers this "capital gains". If you live in your home for at least two of the previous five years, the Taxpayer Relief Act of 1997 allows you an exemption on som...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Labor Day's Monday. How do you and your family plan on spending it? Playing on the lake? Offroading through the desert? Options make the Lake Havasu lifestyle so desirable. With September just around the corner, we start September off with a bit of fun: the Havasu First Friday Kickoff Party and a 5-Iron Tournament.September Fun Starts the Very First Week in Lake HavasuHavasu First Friday Kickoff PartyWhere: Downtown Lake HavasuWhen: Friday, September 6th, 6 pm to 9 pmAdmission: FREEContact: First Friday Havasu Team emailOn the first Friday of every month this fall and winter, the City invites the public to the downtown area for a First Friday event. To kick off the new season, September 6th's First Friday event sounds like extra fun. Artists and other vendors set up booths along Main St...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Our local real estate market is almost as hot our Lake Havasu lifestyle. Sales hit their second-highest mark for the year. Meanwhile, prices hit their highest level for 2019 so far, according to the Lake Havasu Market Report for July 2019.July 2019 Lake Havasu Market ReportLake Havasu Market Report - July 2019 SalesFlex MLS reported a total of 224 single-family homes were sold in Lake Havasu City during July 2019. This registered as a 22.4% increase from those sold in July 2018. It's also a 14.3% increase from June's total sales. That makes it the second-highest monthly total so far this year, behind May's 256 and just squeaking ahead of April's 223 total. Pending sales experienced an 8.7% increase from last July's 183 to a reported 199 last month.Lake Havasu Market Report - July 2019 P...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Havasu in the summertime means spending all day on the lake in 100F+ temperatures. But that's just part of the Lake Havasu lifestyle we know and love. How can you beat the heat? A trip to the Elks for a delicious Lake Havasu Ice cream Social 2019 should help.What: Lake Havasu Ice Cream SocialWhere: Lake Havasu Elks #2399 (3532 N McCulloch Blvd)When: Sunday, August 18th, 12:30 pm to 4:30 pmAdmission: $8/person (ages 13+), $4/kid (ages 12 & under)Contact: Lake Havasu Elks (928) 453-3557We All Scream for Ice Cream!Last year, the Lake Havasu Elks Club hosted their very first ice cream social. People loved it so much that they decided to bring it back again this year. This Sunday, visit the Elks Club for all-you-can-eat ice cream, banana splits, sundaes, and root beer floats. Listen to music...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
When you put your Lake Havasu home on the market, you want it to sell as quickly as possible for as much money as possible. That means making it look as good as possible when a potential buyer comes a-callin'. You performed all necessary repairs. Clutter has been banished. You made sure to scour every last nook and cranny until everything glistened. But, let's face it. Most of us still have to live in our homes until we sell them. The wear and tear of daily life means that your property may not look model perfect all the time. So, here are a few last-minute home staging tips to help you get your house ready to show.Last-Minute Home Staging Tips for Your Havasu HomeToiletsIt may sound silly to you, but go around to each bathroom in your Havasu house and put the toilet seats down. And whi...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
We all like a great deal. When making a large purchase (like on a Lake Havasu home), you want the best deal possible. Sometimes, that may mean offering more than the list price. Sometimes, though, a lowball offer might be the way to go. However, that's not always the case and it does come with a few risks. How do you know if offering way below the list price is actually a good idea or not? It depends on the circumstances.Lowball Offer: When Should You Give It a Try?With any of these suggestions, I highly recommend discussing it with your Lake Havasu REALTORĀ® first. What looks like an opportune time for you may not actually be a good one. Your REALTORĀ® provides a more knowledgeable insight into what's going on behind the scenes with the property in question.During the End of the Year Hol...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
During fall, winter, and spring, residents and visitors visit our local swap meet. But, during the summer, we enjoy a nice Lake Havasu Farmer's Market. "Wait a second, Liz. A farmer's market? In the desert? In the summer?" Yep!What: Lake Havasu Farmer's MarketWhere: The KAWS (2144 McCulloch Blvd)When: July 20th, August 24th & September 21st, 8 am to 12 pmAdmission: FREEContact: Lake Havasu Farmer's Market (928) 235-8105 or via emailLake Havasu Farmer's Market 2019Unlike the swap meet, the farmer's market takes place indoors. Each month, different vendors bring their wares to the Kitchen Art Work Space (KAWS) location on McCulloch Blvd. Here, you'll find fresh seasonal produce and vegetables. Learn how to create a healthy and tasty dinner for your family. While you're there, pick up some...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
We just celebrated Independence Day last week. Can you believe it? We're more than halfway through the year already! During the first half of the year, local home sales underperformed compared to the same time last year. Prices, however, continue to rise, according to the June 2019 Lake Havasu Market Report. Even though inventory increased from last June, it's steadily decreased over the last five months. How will this affect buyers?June 2019 Lake Havasu Market ReportLake Havasu Market Report - June 2019 SalesHavasu's Multiple Listing Service, Flex MLS, reported a total of 192 single-family homes were sold in Lake Havasu City during June 2019. That marked a 13.1% drop from last June's 221 total sales. It's also 25% less than the 256 sold in May 2019. At midpoint for the year, total sale...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Lake Havasu City acted as the "go to" vacation spot for decades. Then, as the California real estate market skyrocketed in price, buying a vacation home or investment property made sense for our neighbors to the west. In fact, our secondary market is second among the top markets in the country. If you find yourself ready to cash in on our current seller's market or find that you need to make a major move, things could be a little trickier when you try an out of state home sale. Follow this helpful "how to" guide to make the process a little easier.Out-of-State Home Sales: a "How To" GuideHire an Experienced ProSince you can't always be there in person to handle business, you need to find an experienced Lake Havasu REALTORĀ® who knows how to deal with these types of transactions. Intervie...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Buyers saw your Havasu house, fell in love, and put in an offer. Congratulations! Hold on a minute. You've heard the expression "don't count your chickens before they hatch". Well, don't count your money before you close. As of the latest statistics, almost 4% of homes fail to close. The reasons why vary. While you can't control the buyer's end of the deal, you do have some control over your side. Here's a list of what sellers must do (on their end) to ensure escrow closes.What Sellers Must Do to Ensure Escrow ClosesYour Sales PriceBefore you even list your property on the Havasu market, carefully consider your price. Why? First of all, you want buyers to see it. Pricing too high turns many buyers away before they even step inside. But, more importantly, you need your price to pass the ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
I've said it before. Water factors heavily into the Lake Havasu lifestyle. Even though we sit in the middle of the desert, the Colorado River runs right by us. Thankfully, that means endless hours of fun out on the water just about every day of the year. But, with great fun comes great responsibility. Before you head out on your boat or personal watercraft (PWC), peruse these Lake Havasu boat safety tips and rules of the lake to keep yourself and those around you safe while you play.Lake Havasu Boat SafetyWe want everyone to enjoy their time out on the water whether that's swimming, boating, fishing, jet skiing, parasailing or anything else. So, pay attention to these Lake Havasu boat safety tips before spending time out on the water. All kids under 12 years old must wear a life jacket ...
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