Show your patriotic flair at Lake Havasu's Fall Fun Fair on Saturday, October 17th, 2009, by wearing costumes comprised of red, white and blue colors. Lake Havasu's Fall Fun Fair will be held from 3-7pm at Rotary Park. The theme this year is "Havasu - Show Your Red, White & Blue". So, put on your best patriotic costume, bring the kiddies along and you can participate in the special Fall Fun Fair Parade at 5pm. The first 2,000 kids to arrive for the Fall Fun Fair get a special bag of treats courtesy of the Havasu Community Credit Union. In addition to the parade, the Lake Havasu Fall Fun Fair will have games, live entertainment, food and pony rides. Tickets are only $0.25 each for games and activities. Proceeds from ticket sales will benefit local PTAs, PTOs and other non-profit groups in Lake Havasu City. Limited parking is availble in Rotary Park, but overflow parking is allowed at the adjacent Aquatic Center.
Lake Havasu's London Bridge Days begin this weekend, October 10th, and continue through til Tuesday, October 20th. There will be several events held around the city. These events include:
October 10th 10am - Karnival for Kids at London Bridge Beach 7pm - Happy Birthday Havasu at Speedway 95
October 11th 3:30pm - Shakespeare in the Park at Rotary Park
October 14th 6pm - Youth Talent Show at the Aquatic Center
October 16th 7pm - Marine Corps Band Concert at Rotary Park
October 17th 7am - Boy Scouts Pancake Breakfast at Pima Wash 9am - Daytona Fun Run on Main Street 10am - 34th Annual London Bridge Days Parade on Main Street 12pm - Soap Box Derby on Main Street 3pm - Fall Fun Fair at Rotary Park 7pm - KJJJ Concert at London Bridge Beach
October 18th 10am - Lions Club BBQ at London Bridge Beach 6pm - Praise Gathering under the Bridge
October 20th 7pm - Taste of Havasu at London Bridge Plaza
Lake Havasu residents are encouraged to comment on the City's request for a Bureau of Land Management (BLM) lease at an open house scheduled for October 21, 2009 from 6-8pm. The open house will be held at the Lake Havasu City Chambers in the police facility located at 2360 McCulloch Blvd N. The City is requesting to lease 280 acres from the BLM for various proposed recreation activities, including creating an 18-hole municipal golf course, driving range and practice facilities, hiking/nature trails, environmental education facility/visitors center, an official convention and fine arts/performing arts center (currently conducted at the Lake Havasu High School), an outdoor amphitheater, extended utilities, hiking and nature trails and a two lane boulevard. For more information on Lake Havasu's request or the open house, please contact Kirk Koch, Project Manager with BLM, at 928-505-1237 or Stuart Schmeling, Senior Planner, at 928-453-4148. Make sure your voice is heard about how Lake Havasu City handles our finances and whether you think this is a good idea or not.
The Lake Havasu housing stats for July 2009 are in and they are looking good. According to the Lake Havasu Association of REALTORS®, the sales of single-family homes, multi-family homes and vacant land in Lake Havasu City were up in July 2009 compared to the same time last year. Sales of single-family homes were up 43% (140 units sold in July 2009 vs 98 sold in July 2008), sales of vacant parcels of land were up 33% (12 lots sold in July 2009 vs 9 sold in July 2008) and sales of multi-family homes were up 150% (5 sold in July 2009 vs 2 sold in July 2008). Single-family and multi-family home sales are experiencing an upswing in year-to-date figures for 2009 compared to the same time period as last year as well, with single-family home sales up almost 25% and multi-family homes up almost 108%. Vacant land sales have remained almost the same. Even though the average sale price for a single-family home in Lake Havasu in July 2009 was much lower than the same time last year (currently at $187,627), it has actually increased from May and June. Is this a leveling out of the market? You would need a crystal ball to tell. But, I can tell you this for sure: with these prices and the expiration date for the $8000 First Time Home Buyers Tax Credit quickly approaching, now is the time to buy your Lake Havasu home. Contact me now so we can get you in that home as quickly as possible.
Saturday, September 26th is the big day here in Lake Havasu City for the amazing Fire Truck Tug and Family Safety Day. The Fire Truck Tug, is exactly what it sounds like: a tug of war. Teams will compete to see who can pull the fire truck 10 feet in the shortest amount of time. Competing teams will be co-ed as well as all male and all female. Each team will be using their brute strength to impress and entertain you while raising funds for the Special Olympics. The fire truck to be used for the event is from our own great Lake Havasu City Fire Department.
Family Safety Day will be held at Rotary Community Park between 9am and 1pm. As the name implies, this is a day in which families can have a lot of fun while learning more about safety. There will be booths on hand with information about safety in vaious areas of your lives. There will even be a place where you can have your child's car seat checked for safety.
The day will include airbrushed tattoos, a bounce house, crafts and prizes. There will also be skate board competitions at the skate park.
*****All funds raised by the Fire Truck Tug will be donated to the Special Olympics*****
Competition forms can be found at the Aquatic/Community Center. Registration must be notarized in order to participate. For more information about the event or participation, call Janice Brown at 453-8686. I hope to see you there!
Time is running our for Lake Havasu first-time home buyers to take advantage of the First-Time Home Buyers Tax Credit. It is September already! This means you only have a few more weeks to locate a home and close escrow before the November 30, 2009 deadline.
Don't Wait or You May Lose Out
At this time, there is no extension to the tax credit, even if you are in escrow. Sometimes, delays occur and escrow extends the expected timeline. Loan processing may take a little longer than is expected or there may be some issue that would come up in escrow that would take time to resolve. No matter what the reason for the delay, you will lose the tax credit if escrow does not close on or before November 30. So, opening escow as soon as possible is critical.
Tax Credit Advantages
* Dollar-for-dollar credit - the credit is deducted from the money you owe the IRS; any balance is refunded to you. * The money is free - there is no pay back required, ever. * In some cases, the tax credit can be applied towards your down payment or closing costs; any remaining funds will be credited to you.
Who is a First Time Home Buyer?
* Anyone who has not owned a home within the past three years.
How Much is the Tax Credit?
* 10% of the purchase price up to $8,000.
Income Limits
* $75,000 for singles. * $150,000 for married couples filing a joint return. * The tax credit is reduced for buyers with a modified adjusted gross income (MAGI) of more than $75,000 (single) or $150,000 (married, filing a jointly). * There is a phase out tax credit for those earning more than the income limit - contact a qualified tax professional to see if you qualify. * Partial credits are available for some home buyers whose MAGI exceeds the phaseout limits - contact a qualified tax professional to see if you qualify.
Restrictions
* The home purchased must be your principal residence. * You must live in the home for three (3) years - if you change residences before that time, you must repay the credit.
There has been much talk of extending or expanding the tax credit. But, as it stands for now, the opportunity to take advantage of the tax credit will soon go away. Remember, you must close escrow on or before November 30. The contract date will not matter. It is the closing date (the date you officially become the owner) that will determine your eligibility for the First-Time Buyers Tax Credit.
The renovation for Windsor Beach has begun, thanks to the efforts of the Lake Havasu City Marine Association. A $600,000 renovation is planned for Windsor Beach. The renovations not only improve existing docks at Windsor Beach, but will also add three new ones. The new docks will be placed at Windsor Beach 4, another at the personal watercraft ramp on the west and a third one west of the south ramp.
The new aluminum docks were delivered near the Triple Axle parking lot on August 3rd. The Lake Havasu City Marine Association hopes to have them all in place by Labor Day. The planned work schedule is posted at the beach entrance. Other planned renovations include new sidewalks and asphalt repair at the north ramp.
The Lake Havasu City Marine Association began raising funds last year to replace the existing floating docks at Windsor Beach. Due to their efforts, the federal funds (not part of the stimulus package), grants and private donations have made the planned renovation possible. According to Ron Christofferson of the Arizona Game and Fish Department, "This is the first private and government partnership that I know of in the state to get docks installed like this."
The Lake Havasu City Marine Association is still looking for volunteers to help with the dock placement and other renovations. If you are interested in helping out, call Les John at 928-854-2590.
Thank you to the Lake Havasu City Marine Association and to all that have contributed to keeping Windsor Beach beautiful.
Lake Havasu Unified School District is offering parents and students more choices in education. The reasons that parents would choose a non-traditional school setting are many and varied. Lake Havasu Unified is offering parents an outstanding tuition-free alternative. Choices in education are important to Lake Havasu parents. Many are opting for homeschooling. Now, Arizona is offering parents another great alternative: it is tuition-free IQ Academy.
IQ Academy is a fully accredited school for grades K-12 which brings education into a student's home via the internet. The virtual classroom is structured and yet adaptable to each student's particular needs and schedules. Like regular school, tests are given and passing or failing classes is determined by taking them. Students who consistently do well, gathering enough points through the semester, are going to be prepared for their tests. This is why attendance is critical. Students interact with other students who are not only in Lake Havasu and the state of Arizona, but with other virtual students and teachers across the nation.
Lake Havasu students enrolled in IQ Academy will receive their diploma from Lake Havasu High School upon graduation.
Parents interested in learning more can go to the IQ Academy website or attend an open house online or offline. In addition, you can talk to a live person to answer questions or concerns you may have.
Closed Escrows: 150 Total Sales Volume: $25,786,988
Total number of homes which have sold this year is 797. That is 143 homes more than last year at this time. The total sales volume for the month of June was also improved by over $250,000 from June 2008.
Foreclosures are still impacting our market, but it does seem to be stabilizing. The recovery will be slow in the months ahead. We will probably not return to normal market conditions for a year or two. However, home values are expected increase next year.
Many home buyers have been waiting for the bottom to of the real estate market to be reached. Reports nationally indicate that many markets have reached bottom, with prices now on an upward trend and inventories decreasing.
Phoenix area sales up 56% (DataQuick) Phoenix ares sales prices up 3.5% (DataQuick) Sales prices up nationally in key areas (Stand and Poors) Sales activity up for four consecutive months (National Association of Realtors) Sales activity up in Orlando by an amazing 206% (RealtyTimes.com) Sales activity up in Riverside-San Bernardino 56% (RealtyTimes.com)
I am by no means trying to paint a rosy picture or stating that all is well and good. I am letting you know that the indicators are that the real estate market has begun to turn around and the real estate market is changing.
The number of foreclosures due to toxic loans are decreasing steadily and will continue to do so. However, foreclosures will remain a problem, continuing to impact impact home values for a while longer.
The availabilty of mortgage loans will also impact the market. Credit is still tight. Buyers must demonstrate a strong credit worthiness and underwriters are still combing through loan applications with a fine tooth comb. Speaking of mortgages; interest rates have dropped. The current interest rate is just a little over 5%.
Take advantage of today's market because it will not last forever and will eventually move back into the seller's favor.
Reasons to buy today:
Affordable pricing (median sales price: $148,750; foreclosed home median sale price: $137,000) Low interest rates First-time Buyers Tax Credit New homeowner tax deductions Homeowner tax deductions Make Your Way Home, AZ
Foreclosures are still driving the market in Lake Havasu City as they are in many areas of the nation. There were 150 homes which closed escrow in June; almost half of these were foreclosed home sales.
June Foreclosure Median Sales Prices (single-family residence):
Arizonians who want to take advantage of today's affordable prices and the foreclosure market now have a new option available to them: Your Way Home, AZ.
A quote from The Arizona Department of Housing: "Because access to homeownership is fundamental to Arizona's way of life, Your Way Home AZ is a financing tool that will make it easier for eligible, credit-worthy homebuyers to obtain mortgages. Funding is made available through the U.S. Housing and Urban Development Neighborhood Stabilization Program (NSP). The state of Arizona and nine other counties and communities received more than $121 million to help stabilize our hardest hit neighborhoods through a variety of efforts".
Your Way Home AZ is a down payment assistance program. The program offers homebuyers an interest-free loan which is forgiveable if the buyer remains in the home for 5 -15 years. The time requirement is based on the amount of the loan. Qualifying for a home loan is now easier with the Your Way Home AZ program and your mortgage payments will be more affordable.
Your Way Home AZ Highlights:
* Down payment assistance of up to 22% of the purchase price. * 0% Interest. * A "silent" second mortage - No monthly payments. * Forgiveable loan - No repayment required (after time requirement elapses). * If home sells before time requirement is satisfied, only the loan amount must be repaid (interest-free). * Home must be a single-family foreclosed property. * The mortgage lender must be an approved lender. * Income restriction - buyer's income cannot exceed 120% of the average income for Mohave County. * First loan qualification is not impacted because the loan is a "silent second" mortgage. * Buyer must attend a home buyer seminar.
Forgiveable Down Payment Loan and Time Requirements:
* 5 years for assistance of $15,000 or less * 10 years for assistance of $15,001 - $40,000 * 15 years for assistance of more than $40,000
Your Way Home AZ truly makes homeownership affordable. Based on a sales price of $137,00, the median for forclosed properties in Lake Havasu City, you loan amount could be as low as $106,860. Your house payment would only be approximately $624 (principal and interest only). Wow! That is cheaper than rent.
* First-time home buyers can still qualify for the First-time Home Buyer Tax Credit. * Home buyers qualify for closing costs tax deductions. * Home buyers qualify for mortgage tax deduction every year. * Interest rates have dropped.
Not all counties or cities in Arizona qualify for the Your Way Home Program. The program does vary from one qualifing area to another. Call your real estate agent or lender for details. By the way, if you are already working with a lender, who is not on the approved list, don't change lenders. The Arizona Department of Housing, which adminsters the program, is willing to work with lenders, who are not on the approved list.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Lake Havasu residents
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