Lake Havasu City, AZ Real Estate News

By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Last week, I discussed that the first thing Havasu home buyers need to do is get their financing in order. All offers must include an approval letter. Otherwise, you may find yourself out of luck for that property you wanted. In the latest Lake Havasu housing market update, we see a shift that both buyers and sellers should pay attention to.Lake Havasu Housing Market Update for Mid-Summer 2021Home BuyersGood news for Havasu home buyers. The past year or so has been rough for you. Low inventory meant fewer homes to choose from. In turn, buyers found themselves competing against several other buyers for each property. Last month, home sales remained almost flat from the previous month while pending sales dropped off slightly. The median sale price fell back below $400,000 (after May's hig...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Are you considering a home purchase this summer? In today's Lake Havasu real estate market, it is more important than ever to get pre-approved for a mortgage loan right away. The days of a pre-qualification letter being enough are gone. In fact, talking to your lender and starting the pre-approval process should be the first thing on your list...even before you start looking at properties.Home Buyers Need to Make Pre-Approval Their #1 PriorityThe Pre-Approval ProcessFirst, let me explain what happens with pre-qualification. A buyer sits down with a lender. The lender asks about their income and employment status. Then, they pull credit scores to make sure they meet at least the minimum standard for a loan. Based on this preliminary information, the lender issues a pre-qualification lett...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Whew! The Lake Havasu Market Report for June 2021 shows some possible relief for home buyers. For the first time since December 2020, the median sale price actually decreased from the previous month. Could that indicate the beginning of a leveling-off in the market? It is too soon to tell. Inventory fell off slightly from May's stats and active listings followed suit. What else happened in the Havasu real estate market last month that buyers need to know about?Lake Havasu Market Report for June 2021June 2021 Home SalesAccording to our local MLS, a total of 240 properties sold in Lake Havasu City in June 2021. That included single-family homes, vacant properties, townhomes, condos, etc. While slightly higher than the total properties sold in May 2021, it marked an 11.4% decrease from the...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Would it really be the 4th of July if we didn't have fireworks over the lake? I don't think so. Luckily, we don't have to worry because the Lake Havasu Fireworks Show 2021 lights up the lake in just 11 days!What: Lake Havasu Fireworks Show 2021 Where: Thompson Bay When: Sunday, July 4th, 9 pm Admission: FreeLake Havasu Fireworks Show 2021Another beloved Havasu tradition continues this 4th of July with a dazzling display of pyrotechnics. Starting at 9 pm, fireworks shoot off from Spectator Point on the Island. Fortunately, the show can be seen from several locations around town. Tune your radio in to KNTR 980 AM when the fireworks start to enjoy a patriotic musical accompaniment. While I understand how much our pets mean to us, please keep them at home. Loud noises and bright flashes ten...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
I keep saying that our Havasu real estate market is just as hot as our weather (if not hotter). Home prices continue to rise each and every month. But experts refuse to call this a real estate "bubble" waiting to burst. Instead, consider it the norm...at least for a while. If you plan on doing some summertime home buying this year, take these tips into consideration first.Summertime Home Buying AdviceLow Inventory Equals Less Choices AvailableOur local MLS showed only 1.3 months of inventory available in May 2021. That means that if everything remained at the same rate, we would run out of homes for sale in just over a month. This puts us decidedly in a seller's market. A low inventory level means that buyers have fewer homes to choose from. In turn, we see multiple buyers vying for the...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
The 21st century certainly came in with a roar. Our national real estate market seemed to hustle and bustle. Lenders handed out loan approvals like they were candy. Unfortunately, this led to the bubble bursting in 2007/2008. That closed out the first decade of the new century with millions of foreclosures and a harsh employment landscape. Since then, we seem to have climbed out of despair and continue to see prices rise. New construction struggles to keep up with demand. Homebuyers continue to ask, "when is the bubble going to burst again?" Current Lake Havasu real estate market trends indicate that we are not actually in a bubble. Instead, this appears to be the norm for a while.Lake Havasu Real Estate Market TrendsIt's Not a Bubble!As prices continue to steadily go upward, buyers wor...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Our Lake Havasu real estate market continues to sizzle. Median sale prices rose past $400,000 for the first time ever. And it does not look like they will be coming back down anytime soon. We continue to see several buyers vying for the small number of properties available on the market. So, if you want to snatch up a property before another buyer does, you need to make sure you pre-approved for a mortgage loan right away. And by that, I mean as soon as you finish reading this blog post. What else did the Lake Havasu Market Report for May 2021 have to say? Read on to find out.Lake Havasu Market Report for May 2021May 2021 Home SalesFlex MLS (our local Multiple Listing Service) reported a total of 236 properties were sold in Lake Havasu during May 2021. While slightly less than the 257 s...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
The Lake Havasu real estate market definitely favors sellers. We see many multiple buyer situations on properties every single day. Even so, that does not mean that you can show your property in a less than stellar condition and expect to receive top dollar for it. Today's buyers want to see a move-in ready home. That means taking care of every single area of your property before you show it. Here are a few little things that might not seem like a big deal to you but could actually hinder your Havasu home sale.Minor Things That May Hinder Your Havasu Home SaleEvidence of PetsSo, this may not actually fall into the "minor" category. Nasty smells sink a Havasu home sale faster than just about anything else. Pets and cigarette smoke create two of the most offensive smells in a household. E...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
The Lake Havasu real estate market keeps getting hotter and hotter. Prices continue to rise due to a lack of inventory and high buyer interest. So do not be surprised if you find yourself competing against other buyers for a property. You might want to add contingencies to your offer. These are stipulations that must be met before a sale can be completed. If not, then the buyer can cancel the deal and walk away with their earnest money intact. However, you need to keep them to a minimum. The more complicated you make a deal, the less likely a seller is to accept it. Here are a few of the most common contingencies buyers include when submitting an offer.Common Contingencies When Buying a HomeHome Sale ContingencyOne of the most common contingencies buyers request is a home sale contingen...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
I talk about our hot Havasu real estate market each month. (And it is hot. Just like our dry heat in the dead of summer.) Well, we also host another hot market in town...the Lake Havasu Farmers Market. And it takes place this weekend.What: Lake Havasu Farmers Market Where: The KAWS (2144 McCulloch Blvd N) When: 9 am to 1 pm on the 1st & 3rd Saturdays of the Month (year-round) Contact: Lake Havasu Farmers Market email or via phone (928-235-8105)Lake Havasu Farmers MarketFresh is best. So, if you want the freshest produce, baked goods, and other foodstuffs in town, visit the Lake Havasu Farmers Market. KAWS plays host to this local market on the first and third Saturdays of the month. Vendors set up shop both outside and inside. So, you can step out of the heat and shop in comfort. Start ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Buyers love Havasu real estate. According to the Lake Havasu Market Report for April 2021, year-over-year sales continued to surpass expectations. But high lumber prices, high buyer demand, and low inventory keep driving prices higher and higher. Unfortunately for buyers, this is a trend that is here to stay for the foreseeable future. That is why you absolutely must have your mortgage loan lined up and ready to go when you find a property you want to put an offer in on. In fact, that needs to be one of the very first steps you take when you decide that you want to buy a Havasu home.Lake Havasu Market Report for April 2021April 2021 Home SalesOur local Multiple Listing Service reported a total of 257 properties sold in Lake Havasu City during the month of April this year. That was a 44....
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Did you make it to the Desert Storm Poker Run last weekend? It was a blast. After the lull we experienced with events here in Havasu last year due to the global pandemic, I love seeing life (and fun) continue out on the lake. The weatherman predicts triple digits by the weekend. But the weather will not be the only thing that is hot. Pin those curls and roll up those sleeves. It's time for the Lake Havasu Rockabilly Reunion!What: Lake Havasu Rockabilly Reunion 2021 Where: Lake Havasu State Park, Windsor 4 When: April 30th through May 2nd Cost: $20/day for adults, free to kids ages 11 and under Contact: Kennie Cuppetelli, Event Coordinator (928) 846-0335 or via emailLake Havasu Rockabilly Reunion 2021The Rockabilly Reunion celebrates everything fashionable and raw and the 1950's with a d...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
You found a Lake Havasu home you love. As a smart home buyer, you made sure you received loan approval before you even started looking at houses. You knew you ran the risk of a multiple-bidder situation. So, you wanted to be prepared. When you submitted your offer, you made sure you included a healthy earnest money deposit. Sellers like to see that. What is an earnest money deposit? Why do you need one? And how much should it be?Earnest Money 101What is This & Why Do You Need It?When you enter escrow on your Lake Havasu house, you need to put down an earnest money deposit. This shows the seller that you mean business. After all, if you are willing to put down some money upfront, then you must be serious about wanting to purchase this property. Since the seller promises to take the prope...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Last week, Lake Havasu hosted the biggest boat show in the Southwest. Next week, we host the Desert Storm Poker Run 2021. I cannot think of a better way to test out your new toy than to take it out on the lake for a bit of card-playing fun.What: Desert Storm Poker Run 2021 Where: London Bridge Resort (1477 Queens Bay, Lake Havasu City) When: April 21st to 25th Contact: Christina Nichols (623) 238-1330 or via email, Jimmy Nichols (602) 739-4739 or via emailDesert Storm Poker Run 2021Organizers have been busy setting up the docks for next week's event out on Lake Havasu. Boat owners from outside the Havasu area already began making their way into town earlier this week. (That includes the one in the photo above...Super Fast Cat...that showed up on Monday.) More and more performance boats ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Real estate markets all across the country show a huge spike in buyer demand. That includes right here in Lake Havasu City. This is great news for sellers but not so much for buyers. Why? High buyer demand partnered with low inventory means higher sale prices. According to the Lake Havasu Market Report for March 2021, that is the exact scenario Havasu home buyers face right now. If you want to purchase a Havasu home in the near future, talk to your lender right away to start the pre-approval process on a home loan. You run a high risk of falling into a bidding war with other buyers on a home. So, you must have your financial situation in order before you even start looking at homes.Lake Havasu Market Report for March 2021March 2021 Home SalesFlex MLS reported a total of 314 properties s...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Havasu residents love the outdoors. Whether on the lake or on the land, the more time we spend outdoors, the better. Boating. (Reminder: the Lake Havasu Boat Show takes place next month.) Swimming, Fishing. Camping. Offroad racing. Bicycling. We love it all! One thing I never quite understood, though, was seeing people running along SR 95 in the triple-digit heat of summer. Now, those people, my friend, are dedicated! If you are one of those people, then the 2021 Havasu Half Marathon may be right up your alley. But if you are not quite up to that level yet, strap on your walking shoes and sign up for the 5K instead.What: 2021 Havasu Half Marathon & 5K Where: Over and under the London Bridge When: Saturday, March 27th, 6 am to 2 pm Cost: $33 to $120 Contact: Gavin at Mercury Events via e...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
When you buy a Havasu home, you take on any issues (visible or hidden) that come along with it. Even a newly constructed home may have a problem or two. If you are not ready to take on this responsibility, you might not be ready for homeownership just yet. Performing a home inspection before purchasing a property helps alleviate some concerns. At the very least, it brings potential problems to light. That way you have a better understanding of what you are getting into. But inspections do not cover everything. Let me explain some of the things you need to know about home inspections before you buy your next property.Home Inspection 101You Get to ChooseFirst of all, you get to choose your home inspector. Yes, your Lake Havasu REALTORĀ® may recommend someone to you. But feel free to perfor...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Last month, the Havasu Home and Patio Expo brought us great ideas and deals on home improvement. Next month, the Lake Havasu Boat Show 2021 brings great deals to you on watercraft. That's right. One month from today, you could be knee-deep in deck boats, bowriders, catamarans, and Cuddy Cabins. It's time to upgrade your water game!What: Lake Havasu Boat Show 2021 Where: Sara Park, Havasu 95 Speedway When: April 9th (12 pm to 6 pm), 10th (9 am to 6 pm) & 11th (9 am to 3 pm) Admission: $8/adult, Free/kids 6 & under Contact: Bob Brown, Organizer, (951) 501-0210 or via emailLake Havasu Boat Show 2021We LOVE the water here in Lake Havasu City. So do thousands of other people. At first, we saw people flock here only on weekends and in the summertime. Then, as word got out about our 300+ days ...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
Even with interest rates on the upswing, buyer demand continues to soar in the Havasu real estate market. According to the February 2021 Lake Havasu Market Report, inventory levels dropped off to their lowest point in the last 12 months. Active listings fell by more than half. Sales, on the other hand, rose. This all pushed sale prices up. If you are in the market for a new home, your first step needs to be to talk to your lender about securing a mortgage loan. That way, you are ready to act when you find a Havasu home you love.Lake Havasu Market Report for February 2021February 2021 Home SalesOur local MLS reported a total of 202 properties sold in Lake Havasu City last month. That was 11% higher than the 182 sold in February 2020. Pending listings rose 41.5% from the same time last ye...
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By Liz Miller, Just Call Liz
(Coldwell Banker Residential Brokerage)
The calendar says "winter" but you can start planning for your spring projects right now. How? Visit The Shops at Lake Havasu this weekend and go to the Havasu Home and Patio Expo 2021. They offer ideas for great projects to update your Lake Havasu home. And you are bound to find an awesome deal or two there as well.What: Havasu Home and Patio Expo 2021 Where: The Shops at Lake Havasu When: February 26th (12 pm to 7 pm), 27th (9 am to 6 pm) & 28th (9 am to 3 pm) Contact: Frank Wills, Desert Canyon Events (702) 373-7694Havasu Home and Patio Expo 2021Thinking about putting your property on the market soon? Ready to spend some of your equity on a major remodel? Or do you just want to start off this new year with a "refresh"? Then head to the Havasu Home and Patio Expo this weekend for insp...
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