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House in Havasu for 75% of appraised value

DILLIGAF

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Nothing special, just a clean small 2B 2B house in havasu with enough room to build an RV garage if you wanted. Clean little back yard. Not in town and up the hills a way on the South end. Seems to be a pretty quiet neighborhood.

If you could pick it up for 75% of the appraised value paying cash would you do it? It would become a primary residence and not a rental property.

Pretty sure I know the answer but want to see what the RDP group has as far as input on this. You guys seem to think out of the box quite a bit....lol
 

CJ_Donahue

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Based on what you described I can't see it down side if you can afford it
 

GRADS

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Why would you not? Buy it, sell it next month for 100% of the appraised value.:D
 

Deja_Vu

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Who's appraisal? there all over the place, not enough info for a suggestion.
True, luckily I had a cash buyer for the retirement oasis. No appraisal to deal with.

The home we bought in Tucson we had to get a 2nd appraisal cause the lender rejected the first one even though it was at selling price
 

DILLIGAF

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It would be a big move for me. I live a very quiet life with a few acres. This would be a major change for me.
 

Deja_Vu

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If you don’t end up liking Havasu you can always rent it and do something else.

I like the small town feel of Havasu, just wish it was closer to an airport.

Snowbirds can be a pain in the winter, and you get the influx of boaters in the summer. I think only half the town is full time residents.

That said I’ll probably look at moving back in a few years depending on prices and growth.
 

DILLIGAF

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If you don’t end up liking Havasu you can always rent it and do something else.

I like the small town feel of Havasu, just wish it was closer to an airport.

Snowbirds can be a pain in the winter, and you get the influx of boaters in the summer. I think only half the town is full time residents.

That said I’ll probably look at moving back in a few years depending on prices and growth.
True. I actually liked living in BHC for about 10 years and had everything wired in there. Then i still had multiple homes in S CA so i would just go back and forth whenever i felt the need. Would not have that option anymore though.
 

Instigator

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Something to consider, I'm sure the Havasu House will NEVER have anywhere near the appreciation that your current house will have over the long term. If you are looking to downsize and put some cash in your pocket without ever wanting to move back to something like you have now I would seriously consider it. However if you change your mind later and want to go back to what you currently have the appreciation difference between the 2 homes will force you to spend a hell of lot more than you will make now to buy something like you currently have later down the road. Granted, you can reinvest the proceeds from your current house into some other gamble but........ What you have now is making you way more money and will be a much more stable investment than you will ever make on the Havasu house. Just my 2 cents.
 
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RiverDiva

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Sounds like a great move! Havasu is growing like crazy these days with more and more making the full time move.
Tom, If you need any comps or other data sent over, I’m always just a phone call away. I’m happy to get you anything you need to ease your mind on value. Would be nice to see your face again!
Stacy
928-706-4200
 

pronstar

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Come on Tom, you know You’re better off where you are. How could you give up that view and tranquility?

He doesn’t even have to move...just buy/flip it.

Or just flip the contact and put some money in your pocket with zero risk.


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hallett21

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Is it actually worth the appraisal?




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DILLIGAF

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Sounds like a great move! Havasu is growing like crazy these days with more and more making the full time move.
Tom, If you need any comps or other data sent over, I’m always just a phone call away. I’m happy to get you anything you need to ease your mind on value. Would be nice to see your face again!
Stacy
928-706-4200
Thank you Stacey
 

DILLIGAF

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Something to consider, I'm sure the Havasu House will NEVER have anywhere near the appreciation that your current house will have over the long term. If you are looking to downsize and put some cash in your pocket without ever wanting to move back to something like you have now I would seriously consider it. However if you change your mind later and want to go back to what you currently have the appreciation difference between the 2 homes will force you to spend a hell of lot more than you will make now to buy something like you currently have later down the road. Granted, you can reinvest the proceeds from your current house into some other gamble but........ What you have now is making you way more money and will be a much more stable investment than you will ever make on the Havasu house. Just my 2 cents.
Of course. It is a move down for sure.
 

HB2Havasu

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Sounds like a No Brainer @ 75% LTV to me? Even if you decide not to move their you could likely rent it for some Positive Cash Flow, or Flip It and put 25% in your pocket. Go for it!!!
 

Yellowboat

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" deals" are rarely that.

Why are they selling it 25% less than market value? Is it a must dump for life reasons? Is it a must dump for legal reasons? Is it a must dump becuase something is really wrong?

The onpy one i would even think about is life reasons. All the rest i would run away.
 

pronstar

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" deals" are rarely that.

Why are they selling it 25% less than market value? Is it a must dump for life reasons? Is it a must dump for legal reasons? Is it a must dump becuase something is really wrong?

The onpy one i would even think about is life reasons. All the rest i would run away.

While there are lots of sucker-bets, some of what you run from is how others make money.

Distressed buyers and/or houses are my bread and butter regardless. If there’s no issue, there’s no discount. And I ain’t paying retail for anything.

It’s just math, and if the numbers work, I’m in!

The bigger the problem, the bigger the profits



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coolchange

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Why would somebody sell it 75%? Why not 85 or 90?
Only time I've heard of deals like that is somebody needs to leave the country, today.
If it sounds too good to be true ...
Belts and suspenders.
 

DILLIGAF

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Like I said....out of the box.

Its not a scam or anything like that.
 

DLC

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Why would you not buy it, if it’s below market and your looking to buy in HAVASU.

the problem is once your out there you want a big garage and then a pool and a few more toys to play with.
 

pronstar

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Why would somebody sell it 75%? Why not 85 or 90?
Only time I've heard of deals like that is somebody needs to leave the country, today.
If it sounds too good to be true ...
Belts and suspenders.
Seller motivations are all over the map.

Thousands of houses change hands on the daily, below market value, on the wholesale market.

And not all of those folks are leaving the country


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mbrown2

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Something to consider, I'm sure the Havasu House will NEVER have anywhere near the appreciation that your current house will have over the long term. If you are looking to downsize and put some cash in your pocket without ever wanting to move back to something like you have now I would seriously consider it. However if you change your mind later and want to go back to what you currently have the appreciation difference between the 2 homes will force you to spend a hell of lot more than you will make now to buy something like you currently have later down the road. .
Spot on....I did this and later changed my mind to come back to Cali and it was not cheap....but being happy never is. The difference being when I moved back I was able to afford something that appreciated better than the original Cali house I left to go to AZ and the AZ house I left to come back to Cali. Sold in Cali in up market, sold in AZ in a down market and bought in Cali in a down market. Worked out not cheap to change your mind and move back.
 

shintoooo

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Spot on....I did this and later changed my mind to come back to Cali and it was not cheap....but being happy never is. The difference being when I moved back I was able to afford something that appreciated better than the original Cali house I left to go to AZ and the AZ house I left to come back to Cali. Sold in Cali in up market, sold in AZ in a down market and bought in Cali in a down market. Worked out not cheap to change your mind and move back.
You moved from CA to AZ and then moved back to CA? Can you tell us a little more about this if you don't mind? Always interested in hearing why people move and how it worked out etc.. thanks.
 

Yellowboat

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Seller motivations are all over the map.

Thousands of houses change hands on the daily, below market value, on the wholesale market.

And not all of those folks are leaving the country


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Yep, i am not looking to make money on homes any more. Been there done that. Its why i dont have a mortgage now. I just want a comfortable place to live that i am not going to lose my ass on. Maybe if i get bored i might look for a rental or two.
 

DILLIGAF

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Why would you not buy it, if it’s below market and your looking to buy in HAVASU.

the problem is once your out there you want a big garage and then a pool and a few more toys to play with.
I am planning on making a move regardless. Havasu isnt on the top of the list but on the list. I just dont want to live in a big city. F that
 

pronstar

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Yep, i am not looking to make money on homes any more. Been there done that. Its why i dont have a mortgage now. I just want a comfortable place to live that i am not going to lose my ass on. Maybe if i get bored i might look for a rental or two.
I’m connected with several wholesalers in the area, and I’d be happy to connect you if/when you get back into the game


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2FORCEFULL

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Nothing special, just a clean small 2B 2B house in havasu with enough room to build an RV garage if you wanted. Clean little back yard. Not in town and up the hills a way on the South end. Seems to be a pretty quiet neighborhood.

If you could pick it up for 75% of the appraised value paying cash would you do it? It would become a primary residence and not a rental property.

Pretty sure I know the answer but want to see what the RDP group has as far as input on this. You guys seem to think out of the box quite a bit....lol
that's what I just did,..2br 2bth, double lot,... gonna build a new custom on the other lot and have a big storage area

DSC04933.JPG
DSC04929.JPG
DSC04924.JPG
 

jones performance

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I am planning on making a move regardless. Havasu isnt on the top of the list but on the list. I just dont want to live in a big city. F that
i have found havasu to be big enough to enjoy the bigger city type things (restaurants, shopping, activities)and conveniences, and small enough that i dont want to throat punch every person i see constantly like i did in socal.
 

mbrown2

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You moved from CA to AZ and then moved back to CA? Can you tell us a little more about this if you don't mind? Always interested in hearing why people move and how it worked out etc.. thanks.
Born and raised in Cali...raised in La Puente, 1st house of our own in Chino, 2nd was a newly built tract home in Simi Valley near work. That house went from 300-900 from 1998-2007. Then work asked if I could start tech operations in Chandler...I said great!...we have a house in Parker, land in Havasu and I will be closer to the river. 9 Months of great weather and 3 months of hot in Phoenix. My company sold my house in 3 weeks after 3 offers and paid for everything for the move. Bought a big custom home in gated community in mid 2007. Also felt at the time it was great to move to a Red state, gun laws, basically more conservative views. After a couple of years the things that I thought I would like were not as great as they seemed. The two AC's in the house would come on in March/April and not shut off till mid to late October. Going to the river with 100 degree days with a beer in your hand is great....living and going to work in them from April to Sept you find you spend most time inside. Unless you have AC in the garage you don't spend much time out there when its hot. Come winter I would find myself replacing my ficus trees cause they would die from freeze. Never knew it but in Jan/Feb Phx can get cold ....sunny and clear as day out but cold like the desert. After a couple of years I found it was really more like 3 months of great weather (April/May/October) and the rest were variable at best. On the conservative front; when AB187 passed and saw the backlash I started to see the state was changing to be a more liberal state. Sheriff Joe had warn out his welcome and politicians became very aware they needed to be more aware of the diversity of the population and the state's direction started to change. The gun laws were really great. During hot months it was not that comfortable to do the things I like to do.....hike, bike, basically anything physical outside. Also, I hated when there was family and friend events in Cali we would always miss out. We don't have kids and lived in a custom tract where people were older or had kids; we made some friends but definitely not a lot in common with the folks there.

Fast forward to Jan 2011...visited Huntington Beach to celebrate a buddy's bday and it was a 70 degree day...people at beach in bathing suits and it hit me...why the F am I living in AZ when it was not really what I thought it would be. I don't mind the extra hour+ to the river and I am already used to liberal ways...and before long any state that borders Mexico will likely vote Blue anyway along with all the Cali exodus to AZ, TX, and NV their Cali ways and voting will follow them. After that Jan trip I started looking for a house and found a foreclosure downtown Huntington that a DR. walked away as he was 600K underwater on it and he went and bought something bigger...we scored; job was ok with me coming back...things were up and running fine.

Now...my AC goes on 6-8 days a year....temps stay within a certain range and I am not limited do outdoor activities...and more important I am near family and friends and don't miss all those events that connect people that I have known my whole life. Its not cheap to live here; the politics suck but I'm happy with it for this phase in my life. I was that person where I thought leaving California was the answer...but in my case it was just a learning opportunity.
 
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84miller

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Depends, is it cash and as is, could cost more to make it livable. So if you get it for the 75%, can have it inspected, seller pays for any issues, could be a great deal. The only great deals I have ever seen, hard to find, trust sales...the beneficiaries normally want the property gone. Good luck with the deal.
 

shintoooo

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Born and raised in Cali...raised in La Puente, 1st house of our own in Chino, 2nd was a newly built tract home in Simi Valley near work. That house went from 300-900 from 1998-2007. Then work asked if I could start tech operations in Chandler...I said great!...we have a house in Parker, land in Havasu and I will be closer to the river. 9 Months of great weather and 3 months of hot in Phoenix. My company sold my house in 3 weeks after 3 offers and paid for everything for the move. Bought a big custom home in gated community in mid 2007. Also felt at the time it was great to move to a Red state, gun laws, basically more conservative views. After a couple of years the things that I thought I would like were not as great as they seemed. The two AC's in the house would come on in March/April and not shut off till mid to late October. Going to the river with 100 degree days with a beer in your hand is great....seeing them from April to Sept you find you spend most time inside. Unless you have AC in the garage you don't spend much time out there when its hot. Come winter I would find myself replacing my ficus trees cause they would die from freeze. Never new it but in Jan/Feb Phx can get cold ....sunny and clear as day out but cold like the desert. After a couple of years I found it was really more like 3 months of great weather (April/May/October) and the rest were variable at best. On the conservative front; when AB187 passed and saw the backlash I started to see the state was changing to be a more liberal state. Sheriff Joe had warn out his welcome and politicians became very aware they needed to be more aware of the diversity of the population and the state's direction started to change. The gun laws were really great. During hot months it was not that comfortable to do the things I like to do.....hike, bike, basically anything physical outside. Also, I hated when there was family and friend events in Cali we would always miss out. We don't have kids and lived in a custom tract where people were older or had kids; we made some friends but definitely not a lot in common with the folks there.

Fast forward to Jan 2011...visited Huntington Beach to celebrate a buddy's bday and it was a 70 degree day...people at beach in bathing suits and it hit me...why the F am I living in AZ when it was not really what I thought it would be. I don't mind the extra hour+ to the river and I am already used to liberal ways...and before long any state that borders Mexico will likely vote Blue anyway along with all the Cali exodus to AZ, TX, and NV their Cali ways and voting will follow them. After that Jan trip I started looking for a house and found a foreclosure downtown Huntington that a DR. walked away as he was 600K underwater on it and he went and bought something bigger...we scored; job was ok with me coming back...things were up and running fine.

Now...my AC goes on 6-8 days a year....temps stay within a certain range and I am not limited do outdoor activities...and more important I am near family and friends and don't miss all those events that connect people that I have known my whole life. Its not cheap to live here; the politics suck but I'm happy with it for this phase in my life. I was that person where I thought leaving California was the answer...but in my case it was just a learning opportunity.
Thank you for taking the time to write that. I think about moving from time to time as well, but only for my kids because it's so expensive here and I think they would have more opportunities in another state. I don't think we're ever going to move though because all our family is here. The kids can ultimately decide what they want to do when they become adults. We'll see what happens.
 

Yellowboat

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I’m connected with several wholesalers in the area, and I’d be happy to connect you if/when you get back into the game


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I am looking for some land to build on now. 3-5 acres with in about 45 mins of town. I can get ~300k cash whem i sale the other house. I have about 75k i can put down now. Flying 4 hours twice a week os getting old.
 

mbrown2

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Thank you for taking the time to write that. I think about moving from time to time as well, but only for my kids because it's so expensive here and I think they would have more opportunities in another state. I don't think we're ever going to move though because all our family is here. The kids can ultimately decide what they want to do when they become adults. We'll see what happens.
That's a difference maker right there. I don't have kids....but I am bummed that if did they could likely not afford to live here unless they want to move way out which is likely far away from their job. Unless the kid goes into engineering/tech they are better off in a trade in Cali as they pay well, in demand and have good union pensions...seen many be able to afford to buy after 5-6 years on the job. That said if my kid went away to college and wanted to raise their family in that cheaper state ...it would drag on me and my wife to be closer to them as they have grand kids and they grow up. That would be a tough call.
 
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