Call my toll free cell phone at (800) 980-1906 (Havasu Realty) for help with all your real estate needs.
Lake Havasu City 2011 Single Family Home Recordings (average or average/median price as reported through the Multiple Listing Service):
Jan 2012 - $155,242/137,000 (101 homes) Dec 2011 - $174,876/143,500 (124 homes) Nov 2011 - $188,849/145,000 (95 homes) Oct 2011 - $175,632/145,000 (105 homes) Sep 2011 - $164,349/140,000 (99 homes) Aug 2011 - $163,870/137,900 (113 homes) Jul 2011 - $159,845/140,950 (94 homes) Jun 2011 - $194,220/159,000 (125 homes) May 2011 - $173,295/147,700 (132 homes) Apr 2011 - $169,686/135,500 (141 homes) Mar 2011 - $180,143/150,000 (142 homes) Feb 2011 - $171,054/$142,000 (141 homes) Jan 2011 - $175,095/$146,250 (104 homes)
Single family homes that closed escrow (does not include condos or mobile homes or homes sold without a lot).
Jan 2012 - 101 homes (down 2.9% from Jan 2011) Jan 2011 - 104 homes
Dec 2011 - 124 homes (down 0.8% from Dec 2010) Dec 2010 - 125 homes
Nov 2011 - 95 homes (down 7.8% from Nov 2010) Nov 2010 - 103 homes
Oct 2011 - 105 homes (up 1.0% from Oct 2010) Oct 2010 - 104 homes
Sep 2011 - 99 homes (up 17.9% from Sep 2010) Sept 2010 - 84 homes
Aug 2011 - 113 homes (up 20.2% from Aug 2010 Aug 2010 - 94 homes
Jul 2011 - 94 homes (down 10.5% from July 2010) Jul 2010 - 105 homes
Jun 2011 - 125 homes (down 17.2% from Jun 2010) Jun 2010 - 151 homes
May 2011 - 132 homes (down 19.5% from May 2010) May 2010 - 164 homes
Apr 2011 - 141 homes (down 16.1% from Apr 2010) Apr 2010 - 168 homes
Mar 2011 - 142 homes (down 22% from Mar 2010) Mar 2010 - 182 homes
Feb 2011 - 141 homes (up 25.9% from Feb 2010) Feb 2010 - 112 homes
Jan 2011 - 104 homes (down 6.3% from Jan 2010) Jan 2010 - 111 homes
Dec 2010 - 121 homes (down 0.8% from Dec 2009) Dec 2009 - 122 homes
Nov 2010 - 101 homes (down 12.9% from Nov 2009) Nov 2009 - 116 homes
Oct 2010 - 104 homes (down 14.8% from Oct 2009) Oct 2009 - 122 homes
Sep 2010 - 84 homes (down 38.2% from Sep 2009) Sep 2009 - 136 homes
Aug 2010 - 93 homes (down 18.4% from Aug 2009) Aug 2009 - 114 homes
Jul 2010 - 105 homes (down 23.4% from Jul 2009) Jul 2009 - 137 homes
NOTE: July 2010 is the first drop (compared to the same month in the previous year) since February of 2009 and it may be due (in part) to the $8,000 tax credit requiring qualifying homes to close escrow by 6/30/10. The 6/30/10 closing date was extended but only if under contract by 4/30/10.
Jun 2010 - 151 homes (up 9.4% from Jun 2009) Jun 2009 - 138 homes
May 2010 - 162 homes (up 14% from May 2009) May 2009 - 142 homes
Apr 2010 - 168 homes (up 20% from Apr 2009) Apr 2009 - 140 homes
Mar 2010 - 184 homes (up 36.3% from Mar 2009) Mar 2009 - 135 homes
Feb 2010 - 112 homes (up 20.4% from Feb 2009) Feb 2009 - 93 homes
Jan 2010 - 111 homes (up 42.3% from Jan 2009) Jan 2009 - 78 homes
Dec 2009 - 119 homes (up 32% from Dec 2008) Dec 2008 - 90 homes
Nov 2009 - 110 homes (up 39.2% from Nov 2008) Nov 2008 - 79 homes
Oct 2009 - 119 homes (up 38.4% from Oct 2008 Oct 2008 - 86 homes
Sep 2009 - 137 homes (up 57.5% from Sep 2008) Sep 2008 - 87 homes
Aug 2009 - 113 homes (up 31.4% from Aug 2008 Aug 2008 - 86 homes
Jul 2009 - 137 homes (up 45.7% from Jul 2008) Jul 2008 - 94 homes
Jun 2009 - 138 homes (up 48.4% from Jun 2008) Jun 2008 - 93 homes
May 2009 - 142 homes (up 12.7% from May 2008) May 2008 - 126 homes
Apr 2009 - 140 homes (up 40% from Apr 2008) Apr 2008 - 100 homes
Mar 2009 - 137 homes (up 31.7% from Mar 2008) Mar 2008 - 104 homes
Feb 2009 - 93 homes (down 7% from Feb 2008) Feb 2008 - 100 homes
Jan 2009 - 79 homes (up 29.5% over Jan 2008) Jan 2008 - 61 homes
Dec 2008 - 92 homes (up 50.8% over Dec 2007) Dec 2007 - 61 homes
Nov 2008 - 78 homes (up 34.5% over Nov 2007) Nov 2007 - 58 homes
We are seeing multiple offers again (one repo recently had 15 offers on it) and a number of homes are selling for more than the asking price.
See the sales report farther down in this report for more details.
**FOR A CURRENT LIST OF AVAILABLE BANK FORECLOSURES with several color photos of most of the homes, scroll down this page and click on "Visit My Web Site" and you will be able to receive an up to the minute list without having to register or fill out a form.
Lake Havasu City Single Family Home Recordings (average or average/median price as reported through the Multiple Listing Service):
Jan 2012 - $155,242/137,000 (101 homes) Dec 2011 - $174,876/143,500 (124 homes) Nov 2011 - $188,849/145,000 (95 homes) Oct 2011 - $175,632/145,000 (105 homes) Sep 2011 - $164,349/140,000 (99 homes) Aug 2011 - $163,870/137,900 (113 homes) Jul 2011 - $159,845/140,950 (94 homes) Jun 2011 - $194,220/159,000 (125 homes) May 2011 - $173,295/147,700 (132 homes) Apr 2011 - $169,223/135,250 (138 homes) Mar 2011 - $180,143/150,000 (142 homes) Feb 2011 - $171,054/$142,000 (141 homes) Jan 2011 - $175,095/$146,250 (104 homes) Dec 2010 - $179,858/147,900 (125 homes) Nov 2010 - $189,568/$155,000 (102 homes) Oct 2010 - $210,052/$156,000 (104 homes) Sep 2010 - $170,868/$135,500 (84 homes) Aug 2010 - $172,819/$154,700 (91 homes) Jul 2010 - $166,595/$149,900 (105 homes) Jun 2010 - $175,834 (151 homes) May 2010 - $184,887 (162 homes) Apr 2010 - $180,238 (165 homes) Mar 2010 - $188,212 (184 homes) Feb 2010 - $171,381 (112 homes) Jan 2010 - $176,811/$151,050 (109 homes) Dec 2009 - $195,578 (119 homes) Nov 2009 - $176,467 (110 homes) Oct 2009 - $178,973 (119 homes) Sep 2009 - $179,828 (137 homes) Aug 2009 - $180,630 (113 homes) Jul 2009 - $197,043/$165,000 (137 homes) Jun 2009 - $181,140 (138 homes) May 2009 - $188,738 (141 homes) Apr 2009 - $187,965 (140 homes) Mar 2009 - $201,684 (135 homes) Feb 2009 - $180,291 (93 homes) Jan 2009 - $202,350 (79 homes) Dec 2008 - $214,270 (92 homes) Nov 2008 - $189,535 (77 homes) Oct 2008 - $218,811 (87 homes) Sep 2008 - $241,522 (87 homes) Aug 2008 - $221,535 (86 homes)
Full Year (average/median price):
2011 - 1,433 homes - $174,443/145,000 2010 - 1,506 homes - $180,851/148,650 2009 - 1,467 homes - $186,774/155,000 2008 - 1,098 homes - $247,048/209,250 2007 - 1,068 homes - $310,663 2006 - 1,377 homes - $311,619 2005 - 2,268 homes - $273,889
Full year recap:
2011 - 1,433 homes (down 4.1% from 2010) 2010: 1,494 homes (up 1.84% from 2009) 2009: 1,469 homes
Using March as a benchmark:
March 2011 - $180,143 March 2010 - $188,212 March 2009 - $201,684 March 2008 - $262,717 March 2007 - $316,740 March 2006 - $316,359 March 2005 - $258,889 March 2004 - $211,311 March 2003 - $151,021 March 2002 - $128,161 March 2001 - $122,980
Lake Havasu City R-1 Single Family Lot Recordings:
Above prices are average sales prices except where both average and median prices are shown.
Using March as a benchmark:
March 2011 - $65,447/48,000 March 2010 - $67,635 March 2009 - $92,550 March 2008 - $118,125 March 2007 - $138,529 March 2006 - $142,959 March 2005 - $118,211
Above prices are average sales prices.
Sales figures compiled from the Lake Havasu Association of Realtors Multiple Listing Service. From time to time, articles are quoted from the Today's News-Herald.
BUYER ALERT: It appears that more buyers are realizing that this may now be the best time to make a move. Even the experts can't predict the bottom and interest rates are excellent now. Who knows for how long? A look at recent months shows more price reductions . This is partly due to the large number of homes on the market and the need of some sellers to make some drastic price reductions in order for their home to be one of the homes that sell. In addition, the subprime mortgage mess has caused some prospective buyers to believe that they can't get approved on a loan at this time. If you are in that category, you should contact your lender as there are still plenty of buyers being approved and there is still good conventional financing available plus FHA 3.5% down and VA 100% financing.
If you have no lender that you have been working with, contact me and I can have a well qualified loan representative contact you. As an example, I was the listing agent on a home recently where the buyer had been in escrow for several weeks with two different lenders who both ended up wanting more money down. I suggested a mortgage company that I felt could get the job done. The loan officer has sixteen years prior experience as a loan processor. The loan was approved and it has now closed escrow.
NOTE: For those who still can't qualify for a new loan, there are a number of homes available where the owner will carry the mortgage for at least 3 years with 10% down. A credit check may or may not be required plus you get a deed just like you do when going through a bank or mortgage company. In addition you save many lender fees. Call my toll free cell at (800) 980-1906 for more details on these properties.
This has all resulted in some extremely good buys.
Don't sit on the fence too long. Most financial experts and investors don't realize when the bottom of the market has hit and therefore, waiting for them to tell you could cost you some significant dollars. Many believe that there is a lot of money out there that is waiting to be used for mortgages and because of that, the lenders are working hard to get a handle on the subprime market mess and to once again get the money flowing more freely in the mortgage market. When that happens, more buyers will qualify and more will be buying which will help the recovery of the housing market (along with rising sales prices). If you have been wanting to buy a primary or second home, now is a great time to make your move.
The current lower interest rate environment and the large selection of well priced homes present a window of opportunity for potential buyers. In view of this, many buyers are jumping off the fence and starting their search for their dream home.
Sellers are pricing their homes more realistically in order to make them stand out. Many of the price reductions on existing listings are really just reducing the asking price to what the comparable sales are showing to be the true market value. In other words, the price the home should have been listed for in the first place. Homes that are priced right are selling first. Sellers that want to "start high and come down later" may find that the buyers pass them by altogether and just look at properties that are priced right. This is what happens in a buyer's market.
Due to the good inventory of well priced homes on the market and still favorable interest rates, now is an ideal time for buyers to purchase their dream home. Potential buyers should consider some of the following reasons why buying in the Lake Havasu area should continue to be a wise investment. You have a lot of baby boomers relocating here from California and elsewhere plus many boaters and snowbirds are buying second homes.
The Lake Havasu-Kingman, AZ area is the #2 small market to which people are moving to. The U.S. Census Bureau also reported that between 2000-2004, the two Mohave County cities had a 44.8% rate of growth. The lake and the good weather will always draw folks to this area.
Money magazine reports that of towns with 50,000+ population, Lake Havasu City has the cleanest air quality of them all. The city met air quality control standards 100% of the time.
Remember, the Lake Havasu City area was much less affected following the 9/11 tragedy than most parts of the country. Tourism went way down where people had to fly in. In California and other nearby states, people jumped in their cars and drove here. Eighty percent of my business is with folks from California who either bought a second home or their retirement home here in Lake Havasu City.
You should buy when the timing is right for you rather than trying to time the market. Even the experts can't predict what the Lake Havasu City market will do in the next upcoming months plus these low mortgage interest rates won't last forever.
By the way, I help investors do 1031 tax exchanges as they sell their out of state properties and then invest in our area. To hear a recording regarding deferring capital gains taxes on the sale of your investment properties, please call 24/7 toll free (888) 211-3006 and when prompted, enter recording number 7159. You can also find links to six 1031 exchange company websites and the official IRS website by going to my website. You will find a link to my website farther down on this page. Once on my website, click on the "Links to 1031 Websites" button.
Whether you are a first time buyer, a seasoned investor or someone thinking of selling their home, click on my website below and then click on "Testimonials" to see what others think of my services. Then, call me on my toll free cell at (800) 980-1906 and let me help you meet your real estate needs. If you prefer, you can click on my website below and search the MLS. Jot down the MLS numbers of the properties that interest you and then, call or e-mail me and I can answer any questions about those or other properties that may work for you. Thanks.
Location Characteristics: Part of the Colorado River that separates Arizona and California, the 45 mile long Lake Havasu is truly a boat lover's dream. Thousands enjoy it every year for boating, water skiing, kayaking, fishing and more. Lake Havasu City itself offers plenty of hotels, motels, and golf courses for your vacation enjoyment. Lots of folks maintain second homes or condos here. We are 153 miles from Las Vegas, 214 miles from Palm Springs, CA and 203 miles from Phoenix. The average maximum temperature in July is 108.6 degrees while the average minimum is 78.8 degrees. In January it's 67.3 and 37.1 degrees. My wife and I moved here from the High Desert region of California because of the warmer winter temperatures plus you have more days per year where you can sit outside and enjoy patio living (or boating) at it's best.
Don't forget to see the historic London Bridge. It crossed the River Thames in England for over 140 years before being brought stone by stone to Lake Havasu City and reassembled.
About John Bemis:
I received my real estate license in California in 1969 and sold lots in Apple Valley, CA. In 1971, I started listing and selling homes and income property in Anaheim, Huntington Beach, Mission Viejo and other parts of Orange County, CA. In 1974, my wife and son and I moved to Apple Valley, CA and I sold properties throughout the High Desert for many years. We moved to Lake Havasu City, AZ in order to enjoy the climate and energy of living in a vibrant city. I work with a great group of professionals at Havasu Realty. I am also still licensed in California and I can refer you to a top agent who can help you with all your California real estate needs.
My background includes being the Western Regional Administrative Manager of AMSCO (American Mineral Spirits Company), serving in the Navy on the USS Ammen DD-527, a Training Instructor at Autonetics Division of North American Aviation Company, inside and outside sales positions and, for fun, ten years working as a Radio Disc Jockey in Los Angeles, Glendale, Long Beach and Santa Ana, CA and Mexico. This all helps in communicating and negotiating the best agreements for your needs.
I specialize in representing my clients in the purchases and sales of single family residences, land and income property (including 1031 exchanges).
When results count the most, call me on my cell at (800) 980-1906 toll free.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
