Lake Havasu City, AZ Real Estate News

By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
In the latest Lake Havasu market report, home sales continued to fall. Some of this can be blamed on higher interest rates and the threat of a recession. We also saw prices begin to fall. With an apparent shift toward the buyer's favor, sellers cannot just sit back and wait for the offers to pour in. They need to stage their homes to highlight the positive and pull focus away from the negative. According to the National Association of REALTORS®, staged homes sell "three to 30 times faster than nonstaged (ones)" and may even bring the sale price up by as much as 20%. While a good professional stager knows exactly what to do to make your home look its best, they easily cost between several hundred and several thousand dollars depending on the size of your home. For some home sellers, this...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Lake Havasu City sits roughly an hour and a half drive from Laughlin and a two-and-a-half-hour drive from Las Vegas. If you really have an itch to gamble, Havasu Landing is located on the California side of the lake. But we love it most when you put gambling together with our love of the water. In the spring, it's the Desert Storm Poker Run. But Fall brings us the Monster Storm Poker Run 2022.What: Monster Storm Poker Run 2022 Start/Finish Line: London Bridge Resort (1477 Queens Bay) When: September 30th to October 2nd Cost: FREE for Spectators Contact: Storm Poker Runs, Christina (623-238-1330 or via email) & Jimmy (602-739-4739 or via email)Monster Storm Poker Run 2022Unfortunately, they already filled up all of the spots for this year's Monster Storm. But that does not mean that you ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
After a huge upward trajectory over the past two years, our local real estate market appears to be experiencing a "course correction". Month-over-month prices dropped off. Total sales remained unchanged. And inventory levels rose above three months for the first time in more than two years. What else does the August 2022 Lake Havasu Market Report show us? Read on to find out.Lake Havasu Market Report for August 2022August 2022 Property SalesAccording to our local MLS, a total of 140 properties were sold in August 2022, the exact same number sold during the prior month. However, it marked a 32.7% drop from August 2021's total sales. Active listings continued to climb up, with 693 reported last month (a 66.6% increase from the same time last year). In fact, active listings increased every...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
When you’re getting ready to list your Havasu home, it is of the utmost importance to ensure that you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. This especially helps now that the Lake Havasu real estate market appears to be tilting back towards a more balanced level between buyers and sellers. Focus on these four areas that may need to repair before listing your home.What to Repair Before You ListRepaint WallsGiving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up. Plus, it is one of the updates buyers look for in today's market. Generally, this can be a do-it-yourself project. Make sure to cover any walls with scratches and chip...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Lake Havasu City began with one man's dream (sprinkled with a massive dose of business acumen)and that turned into the oasis in the desert we know today. Millions of people come from far and wide to play out on our lake each and every year. Following safety protocols helps keep injuries to a minimum while in, on, or above the water. Life jackets play a huge part in keeping everyone safe. But last year's model may not fit so well this year. If you find that to be the case right now, then you're in luck. The Lake Havasu Life Jacket Exchange takes place this weekend!What: Lake Havasu Life Jacket Exchange Where: London Bridge Beach Stage When: Saturday, August 27th, 2022 from 10 am to 12 pm (while supplies last) Contact: Mohave County Sheriff's Office Non-Emergency Line (928) 753-0753Lake H...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
For the last couple of years, we saw home sales in Lake Havasu skyrocket. Sale prices rose even higher. But in the last couple of months, both sales and prices began to come down. We have now entered a balanced market. In fact, it may even be tipping towards the buyer's favor again. If you want to sell your Havasu home today, learn how home selling works in today's market compared to last year.Home Selling in a Balanced MarketBidding Wars Are the Exception, Not the RuleIn the not-too-distant past, we saw several buyers bidding for a single property. Low inventory partnered with high buyer demand often created a bidding war. That drove prices up and left more than a few buyers seeking out other properties. However, higher interest rates and higher inflation lowered home buyer demand. But...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
We might officially call our local real estate market "balanced" at this point. Rather than shooting sky high from month to month, sale prices appear to be mellowing out. July 2022's Lake Havasu market report showed a huge increase in active listings from the same time last year. And inventory levels continue to go up. Unfortunately, higher inflation and mortgage rates continue to dominate the headlines (and affect buyers' pocketbooks). So, how exactly did our market fare last month? Read on to find out.Lake Havasu Market Report for July 2022July 2022 Home SalesThe MLS reported a total of 140 properties were sold in Lake Havasu during the month of July 2022. That marked a 42.4% drop from July 2021's total of 243. Total sales also fell by 21% from June 2022's sales figures. In fact, tota...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
There is always something to do here in Lake Havasu. Boating. Fishing. Offroading. Camping. We also love our poker runs. Whether on land or on water, these events combine our active lifestyles with just a smidge of gambling. And it always benefits a local charity (or two). The Hav-a-Sis organization put together their own version for us called the Twisted Poker Run. And it sounds like lots of fun!What: Twisted Poker Run Where: Starts at Romano's (1519 Queens Bay) When: August 6th, 2023, 1 pm check-in Cost: $5 per person/vehicle Contact: Hav-a-Sis (928) 830-5566 or via emailTwisted Poker RunAll participants in the Twisted Poker Run must check in at Romano's restaurant at 1 pm on Saturday, August 6th. Better yet, come a little early and enjoy a nice meal at Romano's first. Once you check ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
You’ve most likely heard the rule that you need to save up for a 20% down payment before you buy a Havasu home. The logic behind saving 20% remains solid. It shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. With interest rates on the rise, that translates to potentially saving tens of thousands of dollars. But there can actually be financial benefits to putting down a small down payment—as low as 3%—rather than parting with so much cash up front, even if you have the money available. So, how do you decide which down payment strategy works best for you? Weigh the pros and cons before you determine which one to go with.Which Down Payment Strategy is Right for You?ConsThe downsides of a small down p...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
When you buy a Havasu home, you know that you must pay for your down payment, closing costs, a home inspection, and an appraisal (among other things). But when you sell your home, you just sit back and collect the profits, right? Not quite. It costs money to sell your property, too. To help prepare you for what to expect, I have explained the most common home selling costs below.Home Selling Costs ExplainedMarket PrepWhat do I mean by market prep? Whatever it takes to get your Havasu home ready to list. That includes any necessary repairs, landscaping, paint, flooring, etc. Buyers pay close attention to everything when they tour your home. So make sure you pay attention to the details, too. Leave plumbing and electrical issues to the pros. If you cannot pay for expensive repairs, you mi...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
It looks like our local housing market has started to move the needle to a more balanced setting. While it still favors the seller, more inventory helped level the playing field a bit, according to the Lake Havasu Market Report for June 2022. I know buyers are going to like the sound of that!Lake Havasu Market Report for June 2022June 2022 Home SalesOur local MLS reported a total of 176 Lake Havasu properties sold in June 2022. That marked a 28.7% decrease from the total sold in June 2021. This also means that sales fell by 12.9% from May 2022's total. Now, normally, we see sales taper off when the weather hits those triple digits. (Who wants to move furniture in 100+ degree weather, right?) But for the last couple of years, we saw sales continue at a higher pace than normal during the ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Good news for Havasu home buyers! We've seen a rise in available inventory recently. An increase in inventory helps keep bidding wars at bay...at least for the moment. So, your chances of finding (and buying) a home go up as well. Hunting for a new home online is a great place to start your search. In fact, Statista shows that 95% of all home buyers in the US use their computers to search for homes online. But it should not be your end all be all. Good listing agents are excellent at highlighting the best features of a home. However, you should keep in mind that there may be more than meets the eye. To make the most of your time and efforts and gather a well-rounded picture of home listings, keep the following three things in mind when house hunting online.Top Tips for House Hunting Onl...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
When purchasing a Lake Havasu home, many buyers opt for a home inspection during escrow. I recommend this even for a new build due to the fact that you never know what may lurk just out of sight. However, a pre-inspection may also benefit a seller. On the flip side, doing so also includes a few drawbacks for the seller as well. So, should you get a home seller pre-inspection performed before you list your property or not? Weigh the pros and cons below before making your decision.Home Seller Pre-InspectionPros of a Pre-InspectionThe positive aspects of a home seller pre-inspection include the fact that it eliminates the element of surprise. Birthday parties? Retirement parties? Baby showers? Surprises work well for those. For a home sale? Not so much. By finding issues before you list yo...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Our everyday lives can be stressful enough. But when you add buying a home to the mix, our stress levels soar even higher. Before you start looking for a Havasu home, I highly recommend that you talk to your lender to at least begin the pre-approval process. Why? This takes a little while and it allows you to jump in with an offer when you find a home you like. Next to a low credit score, the most common reason a mortgage loan is denied is due to the buyer's debt-to-income ratio. What is this and how does it affect your chances for loan approval?How Debt-to-Income Affects Your Chances for Mortgage ApprovalWhat is Debt-to-Income?Your debt-to-income (DTI) ratio is the total debt you pay out each month compared to the total gross monthly income you receive. Your debt includes payments for ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Inflation and the likelihood of a recession hitting us soon has many people concerned. Even with inventory slightly higher and sale prices cooling off slightly, higher prices at the pump and in the stores hit everyone's pocketbooks. In turn, this affected how much home buyers had to work with. The Lake Havasu Market Report for May 2022 reflected this with lower total sales.Lake Havasu Market Report for May 2022May 2022 Home SalesAccording to our local MLS, a total of 202 Lake Havasu properties were sold in May 2022. That marks an 18.9% drop from the 249 sold in May 2021. It also continued the downward month-to-month trend that started in March of this year. Active listings rose from 344 last May to 408 last month. Pending listings dropped by 28.2% (from 248 to 178). New listings experie...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
"London Bridge is falling down, falling down, falling down. London Bridge is falling down. My fair lady." You probably remember singing this as a kid. But did you know the reason behind this child's nursery rhyme? Or how it connects to our fair city here in America? I thought it might be fun to talk about how Lake Havasu got its start courtesy of one man with a big vision...and an English bridge in the middle of the Arizona desert.How Lake Havasu Got Its StartA Man With a PlanIn 1964, multi-millionaire businessman Robert P McCulloch went looking for a place to test the boat engines his company manufactured. An innovator, inventor, and all-around dreamer, McCulloch (RP to his friends and family) sought a location just across the border from his Palm Springs home. While flying over the de...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Buyers may find it tough to look for a home in the Lake Havasu real estate market today. The median sale price hit its highest point ever last month. Interest rates continue to march upward (with no sign of slowing down anytime soon). While local inventory levels rose slightly, they still remain incredibly low. All of this sounds like the seller should be sitting in the catbird seat, right? Woah! Cool your jets, people. There are a few words of wisdom you need to hear before your home hits the market.What Home Sellers REALLY Need to Know About Today's MarketRyan Lundquist, an appraiser out of the Bay Area in California, wrote a very honest blog post that I believe all sellers should read right now. And while he may live in California, his words prove just as true for the Havasu real est...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
If you bought a home, sold a home, or simply like to look at what's out there in general, you probably looked at/heard of the real estate website Zillow at some point. (I highly suggest following Zillow Gone Wild on Instagram, Facebook, or Twitter for some outrageous properties for sale all over the country.) They recently released their April 2022 Home Value and Sales Forecast. In it, Zillow talks about some interesting trends they found throughout the United States. Find out what they were and how they relate to our local real estate market here in Lake Havasu.Real Estate Market Trends for Spring 2022Inventory Levels Went UpZillow found that inventory levels across the United States saw an increase. As you know, Lake Havasu reported its highest inventory levels this year in April. How...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Inflation and rising home prices hit home buyers' pockets hard, according to the Lake Havasu Market Report for April 2022. Low inventory levels do not help either. As the threat of a possible recession looms, interest rates are on the rise. Even so, this should not stop you from buying a new Havasu home if you really want to. Just make sure that you start the loan process now to lock in your rate before they start to climb again.Lake Havasu Market Report for April 2022April 2022 Home SalesOur local Lake Havasu MLS reported a total of 229 properties sold in April 2022. That was 14.2% lower than the 267 sold in April 2021, which was also the exact same number sold in March 2022. Active listings rose by 6.5% from April 2021 (from 341 to 363). Pending sales dropped 7.2% in the same time per...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Contrary to popular opinion, Cinco de Mayo is not the celebration of Mexican independence. Instead, it celebrates the anniversary of Mexico's victory over France at the Battle of Puebla. This year, Cinco de Mayo falls on a Thursday. But you can celebrate it here on Saturday (the siete de Mayo) at the Lake Havasu Latin Palooza 2022 in Lake Havasu State Park.What: Lake Havasu Latin Palooza 2022 Where: LHC State Park North Beach When: Saturday, May 7th, 1 pm to 6:30 pm Admission: $20 to $105 Contact: SO AZ Productions via emailLake Havasu Latin Palooza 2022For the very first time, Latin Palooza hits our Havasu shores. Latin comics Julio Gonzalez, Johnny Sanchez, and Jerry Garcia headline the afternoon's entertainment. Latin musicians keep things lively for the crowd in between comic sets. ...
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