Buyer, Seller or Curious about Lake Havasu City? 

 

Aug. 2, 2021

Are you Selling a House this Year?

FREE SELLERS GUIDE

Download this guide no matter where you live and have a home to sell. 

FREE Guide to Selling

Posted in SELLER INFORMATION
Aug. 2, 2021

Are you Buying new home this Year?

FREE BUYER'S GUIDE

Read this first!

Posted in BUYER INFORMATION
July 29, 2021

Homeowner Association Pros and Cons

Homeowner associations are on the rise

There are some pros and cons to living in a homeowner association. 

Some of the pros:

  1. The neighborhood looks good. The association guidelines usually require standard landscape, the colors of exterior paint and they have restrictions on boat and vehicles on the street.
  2. There are often amenities such as a pool, play areas and security gates. 
  3. Upkeep of common areas is shared
  4. It is easier to get to know your neighbors as you begin to participate in HOA meetings and use the amenities that are common use. 

Some of the cons: 

  1. HOA dues which vary and most in Lake Havasu City are similar. Often they include thing such as water, sewer, trash so be sure to ask when you are considering a property in an HOA.
  2. Most property updates must be approved by the HOA, especially the ones that effect the exterior.
  3. If your HOA is not financially solid or gets involved in lawsuits this could impact you. 
  4. You have to follow the rules which means you give up a bit of freedom.
  5. A board member can cause an uproar if the board member makes a decision that costs money and is not approved by all members. 

 

 

Posted in BUYER INFORMATION
July 19, 2021

Short Sale Foreclosure

Looking for a Short Sale or Foreclosure?

While we have the designation as a short sale expert this is not something that is used much anymore. 

This was a huge demand in 2005-2010 but as the market stabilized after the bad loans and easy credit people who now own homes generally can pay for them just fine. 

Occasionally we have a short sale or a foreclosure property but they are not the under-market value ones you saw in the past. The banks have tools to help determine the home values and the prices are fair market. 

 

Posted in WHAT IS SHORT SALE
July 15, 2021

June Lake Havasu City Real Estate Market

Are we seeing buyer fatigue? June Lake Havasu City Market Report

It is still too soon to call anything a trend. Let's just call it the FACTS OF JUNE
* Sales of Single Family Homes were down 22%
* Listings (Inventory) are up 20%
* Sales of land staying about the same as previous year
* Listings (inventory) is down 18%
Prices are stable for now

May 18, 2021

Lake Havasu City Golf

Lake Havasu City Golf Courses

Lake Havasu Golf Club

This is a local favorite and is great for all levels of players:

* Putting and Chipping Green

* Practice range with grass and matts

* On-site golf lessons with a pro 

* Motorized Carts

*Walking Carts

* Golf Boards

* Rental clubs

* Bar and Restaurant

* 2 Courses

But don't listen to me, pop over to the website and make your tee time today! Lake Havasu Golf Club

Refuge Golf & Country Club

This is a private club but you can buy a membership for the day and enjoy 18 holes of golf, relax in the pool and even have dinner! To see more: Refuge Golf & Country Club

April 27, 2021

Will the Housing Market Maintain Its Momentum?

Will the Housing Market Maintain Its Momentum?

Will the Housing Market Maintain Its Momentum? | MyKCM

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

Lawrence Yun, Chief Economist at NAR, explains in the report:

"The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising."

Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report. It shows that newly constructed home sales are up 20.7% over the previous month.

Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.

What will this mean for home sales going forward?

Fannie MaeFreddie Mac, and the Mortgage Bankers Association (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. Here’s a graph showing those projections:Will the Housing Market Maintain Its Momentum? | MyKCM

Bottom Line

Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.

April 15, 2021

Thinking of Selling?

Home Sellers Capitalizing On All-Time High Prices

Year to date in Lake Havasu our average days on the market is 26! What an exciting time to sell and get top dollar. 

Thursday, April 15, 2021

2:44 PM

If you’re looking to get the highest price possible for your house when you sell, now may be the best time ever for you to capitalize on market conditions.

According to recent data from realtor.com, the median home listing price in the United States hit $370,000 this March. That’s a 15.6 percent increase from March 2020—and the highest median home listing price on record since realtor.com started tracking prices in 2012.

One of the major causes of increasing home prices is a lack of inventory. According to realtor.com’s data, the number of homes on the market is 52 percent lower than this time last year—and each month, 117,000 fewer homes hit the market than in previous years. And not only is this lack of inventory driving up prices, but it’s also causing homes to sell faster; in today’s market, the typical home sells in 54 days—a full week faster than last year.

The Takeaway:

So, what does this mean for you? Low inventory is driving up home prices around the country. So if you’re thinking about selling your home—and want to sell it quickly and profitably—now is a great time to sell while there is little competition and strong buyer demand.

 

 

From <https://innercircle.lightersideofrealestate.com/articles/market-news/current-market-news/home-sellers-capitalizing-on-all-time-high-prices

 

Posted in SELLER INFORMATION
March 29, 2021

Market Insights

Expert Insights on the Budding Spring Housing Market

 

Feb. 22, 2021

Super Seller Market-NOW

Where have all the houses gone? Look at Arizona! 

In today’s housing market, it seems harder than ever to find a home to buy. Before the health crisis hit us a year ago, there was already a shortage of homes for sale. When many homeowners delayed their plans to sell at the same time that more buyers aimed to take advantage of record-low mortgage rates and purchase a home, housing inventory dropped even further. Experts consider this to be the biggest challenge facing an otherwise hot market while buyers continue to compete for homes. As Danielle Hale, Chief Economist at realtor.com, explains:

“With buyers active in the market and seller participation lagging, homes are selling quickly and the total number available for sale at any point in time continues to drop lower. In January as a whole, the number of for sale homes dropped below 600,000.”

Every month, realtor.com releases new data showing the year-over-year change in inventory of existing homes for sale. 

Does this mean houses aren’t being put on the market for sale?

Not exactly. While there are fewer existing homes being listed right now, many homes are simply selling faster than they’re being counted as current inventory. The market is that competitive! It’s like when everyone was trying to find toilet paper to buy last spring and it was flying off the shelves faster than it could be stocked in the stores. That’s what’s happening in the housing market: homes are being listed for sale, but not at a rate that can keep up with heavy demand from competitive buyers.

In the same realtor.com report, Hale explains:

“Time on the market was 10 days faster than last year meaning that buyers still have to make decisions quickly in order to be successful. Today’s buyers have many tools to help them do that, including the ability to be notified as soon as homes meeting their search criteria hit the market. By tailoring search and notifications to the homes that are a solid match, buyers can act quickly and compete successfully in this faster-paced housing market.”

The Good News for Homeowners

The health crisis has been a major reason why potential sellers have held off this long, but as vaccines become more widely available, homeowners will start making their moves. Ali Wolf, Chief Economist at Zonda, confirms:

“Some people will feel comfortable listing their home during the first half of 2021. Others will want to wait until the vaccines are widely distributed.”

With more homeowners getting ready to sell later this year, putting your house on the market sooner rather than later is the best way to make sure your listing shines brighter than the rest.

When you’re ready to sell your house, you’ll likely want it to sell as quickly as possible, for the best price, and with little to no hassle. If you’re looking for these selling conditions, you’ll find them in today’s market. When demand is high and inventory is low, sellers have the ability to create optimal terms and timelines for the sale, making now an exceptional time to move.

Bottom Line

Today’s housing market is a big win for sellers, but these conditions won’t last forever. If you’re in a position to sell your house now, you may not want to wait for your neighbors to do the same. Let’s connect to discuss how to sell your house safely so you’re able to benefit from today’s high demand and low inventory.

Posted in SELLER INFORMATION