Buyer, Seller or Curious about Lake Havasu City? 

 

Nov. 19, 2021

Double RV Garage 69 Deep

WOW! Get a Double Drive Through RV Garage that 35 wide and 69 feet deep plus a 2 car garage that is 38.5 deep in both bays. This rare total garage square feet 3516! The garage is also industrial wired for all your projects. Get wowed when you step inside the home open floor plan that is 4087 square feet of hard-to-find Santa Fe Style sitting on 1.1 Acres of privacy. Cozy up in front one of the 2 fireplaces with a book or morning coffee. Bring the in-laws as they can have a private getaway in the Casita that has a separate entrance, bedroom bathroom and even a breakfast bar. The master bedroom even has a built-in office for your work from home space. The huge home opens to an oversized custom back patio with screens that can be closed for year-round use. The backyard is your own private oasis with plenty of palm trees, and a refreshing pool with Baja shelf and a jacuzzi. The inner horticulturist will come out when you see the fruit trees and your own greenhouse just waiting for your projects. Save money with the Leased solar monthly bill well under the cost of electricity generated by the city and the home is on septic so your water bills will be less each month.

Luxury Life in Havasu

Nov. 19, 2021

Homeownership How to

Your Journey to Homeownership [INFOGRAPHIC]

Your Journey to Homeownership [INFOGRAPHIC] | MyKCM

Some Highlights

  • When it comes to buying a home, there are a number of key milestones along the way.
  • The process includes everything from building your team and understanding your finances to going house huntingmaking an offer, and more.
  • When you’re ready to start your journey, let’s connect so you have trusted guidance at every milestone in the process.
Oct. 25, 2021

Get a home Inspection and an Appraisal

Knowledge Is Power When It Comes to Appraisals and Inspections

Knowledge Is Power When It Comes to Appraisals and Inspections | MyKCM

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market.

But is that the best move? Buying a home is one of the most important transactions in your lifetime, and it’s critical to keep your best interests in mind. Here’s a breakdown of what to expect from the appraisal and the inspection, and why each one can potentially save you a lot of time, money, and headaches down the road.

Home Appraisal

The home appraisal is a critical step for securing a mortgage on your home. As Home Light explains:

“. . . lenders typically require an appraisal to ensure that your loan-to-value ratio falls within their underwriting guidelines. Mortgages are secured loans where the lender uses your home as collateral in case you default on the agreed-upon payments.”

Put simply: when you apply for a mortgage, an unbiased appraisal – typically required by your lender – is the best way to verify the value of the home. That appraisal ensures the lender doesn’t loan you more than what the home is worth.

When buyers are competing like they are today, bidding wars and market conditions can push prices up. A buyer’s contract price may end up higher than the value of the home – this is known as an appraisal gap. In today’s market, it’s common for the seller to ask the buyer to make up the difference when an appraisal gap occurs. That means, as a buyer, you may need to be prepared to bring extra money to the table if you really want the home.

Home Inspection

Like the appraisal, the inspection is important because it gives an impartial evaluation of the home. While the appraisal determines the current value of the home, the inspection determines the current condition of the home. As the American Society of Home Inspectors puts it:

“Home inspections are the opportunity to discover major defects that were not apparent at a buyer’s showing. . . . Your home inspection is to help you make an informed decision about the house, including its condition.”

If there are any concerns during the inspection – an aging roof, a malfunctioning HVAC system, or any other questionable items – you have the option to discuss and negotiate any potential issues with the seller. Your real estate advisor can help you navigate this process and negotiate what, if any, repairs need to be made before the sale is finalized.

Keep in mind – home inspections are critical because they can shed light on challenges you may face as the new homeowner. Without an inspection, serious, sometimes costly issues could come as a surprise later on.

Bottom Line

Both the appraisal and the inspection are important steps in the homebuying process. They protect your best interests as a buyer by providing unbiased information about the home’s value and condition. Let’s connect so you have an expert guiding you throughout the entire process.

Posted in BUYER INFORMATION
Oct. 17, 2021

Renovate or Move?

The Big Question: Should You Renovate or Move?

The Big Question: Should You Renovate or Move? | MyKCM

The last 18 months changed what many buyers are looking for in a home. Recently, the American Institute of Architects released their AIA Home Design Trends Survey results for Q3 2021. The survey reveals the following:

  • 70% of respondents want more outdoor living space
  • 69% of respondents want a home office (48% wanted multiple offices)
  • 46% of respondents want a multi-function room/flexible space
  • 42% of respondents want an au pair/in-law suite
  • 39% of respondents want an exercise room/yoga space

If you’re a homeowner who wants to add any of the above, you have two options: renovate your current house or buy a home that already has the spaces you desire. The decision you make could be determined by factors like:

  1. A possible desire to relocate
  2. The difference in the cost of a renovation versus a purchase
  3. Finding an existing home or designing a new home that has exactly what you want (versus trying to restructure the layout of your current house)

In either case, you’ll need access to capital: the funds for the renovation or the down payment your next home would require. The great news is that the money you need probably already exists in your current home in the form of equity.

Home Equity Is Skyrocketing

The record-setting increases in home prices over the last two years dramatically improved homeowners’ equity. The graph below uses data from CoreLogic to show the average home equity gain in the first quarter of the last nine years:The Big Question: Should You Renovate or Move? | MyKCMOdeta Kushi, Deputy Chief Economist at First American, quantifies the amount of equity homeowners gained recently:

“Remember U.S. households own nearly $35 trillion in owner-occupied real estate, just over $11 trillion in debt, and the remaining ~$24 trillion in equity. In inflation adjusted terms, homeowners in Q2 had an average of $280,000 in equity- a historic high.”

As a homeowner, the money you need to purchase the perfect home or renovate your current house may be right at your fingertips. However, waiting to make your decision may increase the cost of tapping that equity.

If you decide to renovate, you’ll need to refinance (or take out an equity loan) to access the equity. If you decide to move instead and use your equity as a down payment, you’ll still need to mortgage the remaining difference between the down payment and the cost of your next home.

Mortgage rates are forecast to increase over the next year. Waiting to leverage your equity will probably mean you’ll pay more to do so. According to the latest data from the Federal Housing Finance Agency (FHFA), almost 57% of current mortgage holders have a mortgage rate of 4% or below. If you’re one of those homeowners, you can keep your mortgage rate under 4% by doing it now. If you’re one of the 43% of homeowners with a mortgage rate over 4%, you may be able to do a cash-out refinance or buy a more expensive home without significantly increasing your monthly payment.

First Step: Determine the Amount of Equity in Your Home

If you’re ready to either redesign your current house or find an existing or newly constructed home that has everything you want, the first thing you need to do is determine how much equity you have in your current home. To do that, you’ll need two things:

  1. The current mortgage balance on your home
  2. The current value of your home

You can probably find the mortgage balance on your monthly mortgage statement. To find the current market value of your house, you can pay several hundreds of dollars for an appraisal, or you can contact a local real estate professional who will be able to present to you, at no charge, a professional equity assessment report.

Bottom Line

If the past 18 months have refocused your thoughts on what you want from your house, now may be the time to either renovate or make a move to the perfect home.

Oct. 13, 2021

Condo Deal in Lake Havasu

REMODELED EVERYTHING FRESH AND UPDATED! See More!

$229,900

Nice lake and mountain view from the front and the living room is this highly desirable condo. WOW this property is refreshed for the new buyer! You get new paint, new carpet, new vinyl plank flooring in kitchen, bathrooms and entry way. The countertops in the kitchen and bathrooms have been updated. New sinks and faucets have been installed in the kitchen and bathrooms. New toilets were added. All doorknobs and hinges replaced and updated. The kitchen appliances are all stainless. The ceiling fans were replaced as well as the hallway and bathroom light fixtures were replaced. What a beauty! You have 2 assigned carports too! Welcome home to 1795 Bimini Ln unit A4!

Call us today at 928-846-6044 or call your Realtor!

Oct. 6, 2021

3961 Mediterranean Ln

WOW-The largest garage on the market in Lake Havasu City

37x69 with a 14 foot door and a 2 car garage that is 25x38.5. 

It even comes with a 4087 square foot house on 1.1 acres! 

 

Aug. 24, 2021

Ready to sell your home?

What To Do with Your Vacation Home as Summer Ends

What To Do with Your Vacation Home as Summer Ends | MyKCM

As summer comes to a close, is it time to think about selling your vacation home? Based on recent data and expert opinions, it’s something you may want to consider. According to research from the National Association of Realtors (NAR), vacation home sales are up 57.2% year-over-year for January-April 2021.

If you’ve taken your last vacation this summer, here are reasons you should consider selling your vacation home this year.

1. Remote work continues to drive demand for vacation homes.

As the report from NAR says, based on continuously evolving work needs, there could be more interest in your second home than you think:

“In 2020, across all nine divisions, the fraction of the workforce that work from home is typically higher in the vacation home counties than in the non-vacation home counties… The opportunity to work from home could further raise the demand for vacation homes in future years.

Recent data shows we’ll likely see a sustained increase in the rate of remote work over the next five years. That means your vacation home could be highly sought after by certain buyers. Lawrence Yun, Chief Economist at NAR, puts it best, saying:

"Vacation homes are a hot commodity at the moment . . . . With many businesses and employers still extending an option to work remotely to workers, vacation housing and second homes will remain a popular choice among buyers."

2. Selling could allow you to upgrade your vacation spot – or even your day-to-day scenery.

When demand is high, so is buyer competition. When competition is strong, buyers will do everything they can to make their offer on your vacation home as appealing as possible. This can include things like all-cash offers and more. If you sell now, you’ll be able to benefit from high buyer competition and pick the offer with the best possible terms for you. That offer could give you the opportunity to purchase the primary residence of your dreams.

Or, if you find that you’ll continue working from home, you could consider taking up more permanent residence in your vacation home and selling your primary residence instead. While this isn’t a choice everyone can consider, it could be a great option.

No matter what the situation, you don’t have to make the decision on your own. Your trusted real estate advisor can help you determine your best option when you’re ready to sell.

Bottom Line

Buyers remain interested in vacation homes this year for a number of reasons. Now that summer is winding down, it’s time to think about taking advantage of today’s demand for vacation homes. Let’s connect today if you’re ready to give your second home its day in the sun.

Posted in SELLER INFORMATION
Aug. 12, 2021

Affordable Lake Havasu Home

1470 N LAKE HAVASU AVE $375,000

Turnkey! This lovely home feels and act like a 3 bedroom. Add a free standing closet and it would be! The package is complete in this 2 bedroom PLUS DEN and has the room you need for extra guests. This DEN even comes with a pull out couch-sofa. This well maintained home is on rare NATURAL GAS too. Some updates have been completed for you such as the popular QUARTZ kitchen countertops, stainless steel appliances and updated tile flooring with wood look laminate floors in the living room. The floor plan has split bedrooms, decorative shelves an oversized slider to the PRIVATE backyard with plenty of covered seating, fruit trees, walled and has a separate access to the back through the master bedroom. The exterior paint was updated in the last few years providing nice curb appeal. Motorhome side parking 15 FEET. Except for some personal items this house comes furnished down to the dishes and silverware!

Posted in BUYER INFORMATION
Aug. 12, 2021

AFFORDABLE HOME

2021 MAGNOLIA DR JUST LISTED $312,000

 Start here with an affordable well maintained home that is central to everything downtown Lake Havasu City. Short distance to all exciting main street activities including car shows, events and even the restaurants and stores and ASU. This 2 car garage home even has a bit of side parking, a fenced and gated backyard and a covered patio. The front courtyard has a security gate. Step inside this really clean 2 bedroom 2 bath home with solid surface countertops, plenty of light and laminate wood flooring in the dining room and living room area. Welcome to this AFFORDABLE HOME.

Posted in BUYER INFORMATION
Aug. 12, 2021

Lake Havasu Condo for Sale

1795 BIMINI LN UNIT A4

JUST LISTED FOR $235,900

 Nice lake and mountain view from the front and the living room is this highly desirable condo. WOW this property is refreshed for the new buyer! You get new paint, new carpet, new vinyl plank flooring in kitchen, bathrooms and entry way. The countertops in the kitchen and bathrooms have been updated. New sinks and faucets have been installed in the kitchen and bathrooms. New toilets were added. All doorknobs and hinges replaced and updated. The kitchen appliances are all stainless. The ceiling fans were replaced as well as the hallway and bathroom light fixtures were replaced. What a beauty! You have 2 assigned carports too! Welcome home to 1795 Bimini Ln unit A4!

Posted in BUYER INFORMATION