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Is it me or has the market in Havasu made another huge jump!

NicPaus

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It was about that in 2010.
My Friend bought then for 100K when I got my mobile at Echo. Sold for 240k 2 years ago and said he would buy again when it came back down. Now it's worth 500k + LOL.
 

LargeOrangeFont

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It is a weird time for sure. I think a lot of people are looking back and saying WTF on a lot of things they thought were important. Today I was catching up with an old friend and peer and he told me his wife lost four family members in the last year (mom, dad, aunt, and twin brother) to covid. It put a lot of things into perspective for me. Pent up demand, politics aside there are some people changing their priorities and it is showing.
Agreed. The money is not “coming” from anywhere. Many people are just reassessing their life plans after a year on lockdown. YOLO. :)
 

Socalx09

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Have friends that just paid well over a million on a house a few months back in havasu. Super nice house, but crazy pricing for a second home. It’s insane.
It’s like havasu is a millionaires playground now.

So glad we got the family vacation house in 2010.

82k for a 3 bedroom 1 bath.
5k for adding a second bathroom off the patio. (Converted laundry room to half bath
35k for a 50ft boat garage a few years ago.
38k for the pool last year
About 160k total invested. Seems like a steal right how. I have no idea how much the house is worth, but never selling it.

Just need a concrete driveway which is impossible to get a quote for right now. Don’t even want to know what that cost now. It was 3k a few years ago for a 3 car wide driveway.
 

Hydroman55

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My personal Havasu appreciation example.....It’s absolutely gone nuts...Paid $280k for this 4 years ago 1700 square feet and 2400 square foot garage with lake views from living room and deck.
Today $550K.
 

rrrr

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We just bought a home up in Williams with the WTF Zillow prices.

And that zillow price just went up another $5000 today
Appraisal is Thursday, so will be an interesting comparison
Never thought we would have to be in this price range.
There's an article in today's Dallas Morning News that sez home prices in Plano have increased 18% over April 2020. Just for fun, I put my address in Zillow. Their estimate of its value is $430,000, which is about $20K over recent comps.

The funny part is the notation they've raised the price $24,300 in the last thirty days. If I wait another three months, we can sell the place for half a million!
 

Dirtbag

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pops paid 253,500 fully furnished in July 2016......absolutely ridiculous.....has boat deep garage and amazing views from front and back yard...no pool...

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WTR&PWR

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Havasu Springs Resort.. Last three that sold in the 700's up on the hill above the outter harbor sold for 500k. There is a dump up there that just listed for 615k. You are writing a check as the banks will not finance on rented land (space rent). All 3 are doing 150k+ remodels (good for me) and have new boats on order. Where is all the $$$$ coming from.. 1bed 1 bath no view 200k.. I am on the island at the springs and have been told i can get 600+. Not going anywhere. Crazy times
I’ve been looking for around a year. We will leave our fifth wheel in the 200s or 400s for another year while I keep waiting. Prices are crazy high but inventory is so low I’m not finding what I want. Patience has been hard but hopefully it will pay off
 

Tank

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pops paid 253,500 fully furnished in July 2016......absolutely ridiculous.....has boat deep garage and amazing views from front and back yard...no pool...

View attachment 1001602
See, this is what I'm seeing and seems like more reality out there. Not the reports of a 13% jump or these low reports of market increases. Seems to me shit has basically doubled in the last 10 years.
 

LowRiver2

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There are a lot of Californians that decided to stay only 4 1/2 hours Drive time away from their ca. family instead of moving to Texas , the Carolinas etc. that factor rarely gets talked about but it absolutely is going on.
 

LowRiver2

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The rental home I’m staying at in 3 weeks , was for $425 in 2016.

it’s sold in 20 hours last week for $750k
It was built in 84’
 

RiverDave

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It was about that in 2010.
when I moved here in 2011

brand new 3/2 with an RV garage with granite etc was 170-187k

brand new 3/2 with a 2 car and a pool was 200-210.

If you had to have the pool and the garage it was 320-350 (which I never understood the Price jump because at the time everyone was saying you could put in a pool for 40-50 for something nice)

If the house had a view or not didn’t seem to affect the price much.

Now bare in mind this is the prices they were “asking” and were negotiable from there. At the same time when I was driving around looking at houses the people on the radio where saying things like “Mohave county is the 3rd poorest county in the nation.”

If you jumped to 400k the houses got substantially larger but had gold trim.. If you jumped to 450-500 they were mansions. At 500+ they literally had marble looking columns.

Even 6 years ago I went with Paul to look at a 1.3 million dollar house and it was an estate. I remember the lady didn’t want me to take any pics of the closet (which was the size of my living room) and she said “when you buy a house of this caliber you can just assume it comes with a closet like this.” Lol.

I don’t even know what that house would be worth today, but it would be a lot!
 

Singleton

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I had the opportunity to purchase the house we always rented for Havasu trips from 2007 to 2016 in early 2017.
It was offered to me @ 175k. Due to kids in college and wife wanting a RV/ToyHauler vs a Havasu house, we passed (best decision we made was getting the ToyHauler). Same house just sold in April for 315k.

IMO, it is a 250k house period! If you spent 150k (2017 quote to do what I wanted), it could be a 500k house easy (add RV garage, infinity edge pool, rearrange interior configuration, etc).

That is my issue with Havasu right now, things are selling at prices that don’t make sense to me.
I paid just over 6 for a 2200sq 3 car garage house 1 mile from the beach in Carlsbad. Can‘t see myself spending more then that in Havasu.
 

NicPaus

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This a listing a block from the one we are working on today getting ready to sell. Makes those Havasu prices look like a deal. They can sell here and easily pay cash there. My GF showed me a listing last night when I mentioned this thread. Hawthorne listing her friend has 1.1M. Inglewood they are hitting a million and Compton is over 500K.
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RiverDave

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I had the opportunity to purchase the house we always rented for Havasu trips from 2007 to 2016 in early 2017.
It was offered to me @ 175k. Due to kids in college and wife wanting a RV/ToyHauler vs a Havasu house, we passed (best decision we made was getting the ToyHauler). Same house just sold in April for 315k.

IMO, it is a 250k house period! If you spent 150k (2017 quote to do what I wanted), it could be a 500k house easy (add RV garage, infinity edge pool, rearrange interior configuration, etc).

That is my issue with Havasu right now, things are selling at prices that don’t make sense to me.
I paid just over 6 for a 2200sq 3 car garage house 1 mile from the beach in Carlsbad. Can‘t see myself spending more then that in Havasu.
Well that’s kind of the problem everywhere right now is value vs perceived value.. As everyone knows the value is ultimately what someone is gonna pay for it. Most of our perceived value comes from the idea that a lot of us have been coming here forever and know what it used to cost vs what it is now.

I see 8,000 dollar jet boats selling for 18k.. Of course I look at it and say looks like 8k, but guys are selling them all day long. The fact that Havasu was the #1 travel destination in the USA last summer didn’t help... After that I don’t know if we are ever going back to normal prices.. It never occurred to me to think about it, but I never thought I’d see the name Havasu on the same list as “The Hamptons.”
 

Tank

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This a listing a block from the one we are working on today getting ready to sell. Makes those Havasu prices look like a deal. They can sell here and easily pay cash there. My GF showed me a listing last night when I mentioned this thread. Hawthorne listing her friend has 1.1M. Inglewood they are hitting a million and Compton is over 500K.
View attachment 1001631 View attachment 1001632
I was looking around So. Cal at prices. They are random as shit. Like I said (and Singlton point out) you can get a house in So. Cal not far from the beach for the prices I'm seeing in Az. in places that are outside of L.A. and bigger cities. but then you look at other places and it's just as stupid. I was looking at my grandparents old house in Resida they sold in the early 80s. It sold last year for nearly 800k....In the fuckin valley!!!
 

Universal Elements

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This a listing a block from the one we are working on today getting ready to sell. Makes those Havasu prices look like a deal. They can sell here and easily pay cash there. My GF showed me a listing last night when I mentioned this thread. Hawthorne listing her friend has 1.1M. Inglewood they are hitting a million and Compton is over 500K.
View attachment 1001631 View attachment 1001632
Want to see something stupid. This was one of my dads rentals he bought in 1968 for $12k. Sold it in 1975 for $17k. I was looking at some places and ran across it the other night. If My dad was Alive (today) he would have had a heart attack if he saw what the houses are going for now.


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LargeOrangeFont

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when I moved here in 2011

brand new 3/2 with an RV garage with granite etc was 170-187k

brand new 3/2 with a 2 car and a pool was 200-210.

If you had to have the pool and the garage it was 320-350 (which I never understood the Price jump because at the time everyone was saying you could put in a pool for 40-50 for something nice)

If the house had a view or not didn’t seem to affect the price much.

Now bare in mind this is the prices they were “asking” and were negotiable from there. At the same time when I was driving around looking at houses the people on the radio where saying things like “Mohave county is the 3rd poorest county in the nation.”

If you jumped to 400k the houses got substantially larger but had gold trim.. If you jumped to 450-500 they were mansions. At 500+ they literally had marble looking columns.

Even 6 years ago I went with Paul to look at a 1.3 million dollar house and it was an estate. I remember the lady didn’t want me to take any pics of the closet (which was the size of my living room) and she said “when you buy a house of this caliber you can just assume it comes with a closet like this.” Lol.

I don’t even know what that house would be worth today, but it would be a lot!
When we were looking in 2013, we looked at quite a few houses (not new builds) and for $200k ish we could get a 3/2 with a modest pool, or a RV garage. I didn’t understand the $75-$100k jump for both either.

I suspect it is just because that is what people “need” and there is enough people out there willing to pay the extra price that don’t want to live through construction.
 

HB2Havasu

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Ha Ha. I paid $7,500 for a lot and 39K to build a 2 bedroom 2 car in 86’. Should have bought more lots at the time. 🤔
No Shit. I remember telling my wife around that time that we should take out an equity loan on our home in SoCal and buy 10 lots and hold onto them until retirement. She looked at me like I had absolutely lost my mind, lol. Wish I had pulled the trigger. That $75K investment would be worth around $1.3 Million today :oops:
 

DC-88

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IMO, it is a 250k house period! If you spent 150k (2017 quote to do what I wanted), it could be a 500k house easy (add RV garage, infinity edge pool, rearrange interior configuration, etc).

That is my issue with Havasu right now, things are selling at prices that don’t make sense to me.
I paid just over 6 for a 2200sq 3 car garage house 1 mile from the beach in Carlsbad. Can‘t see myself spending more then that in Havasu.
The real issue with that logic on the old Havasu home is that current actual cost of construction ( no contractor fee) on a 1,600 square foot house with an rv garage, or even just a 50' garage with a 9' door is 300k plus and will never go all the way back down to the levels of 5 years ago for many reasons. Add in the lot price ( even at 2017 prices say 55k ?) and I don't see the whole package going back down that far . With all the money printing combined with demand it's like going to Baja in the 80's and buying a tank of Pemex for a zillion pesos or whatever it was 😁 . Prices will fall at some point, but like stocks they have no memory of prior price. Odds are you'll make a killing over the next 25 years on the Carlsbad home though ! I always track realtor.com and zillow for Needles listings as well , and the turnover volume there over the last 12 months has been unreal with the # of contingent, pending and competed home sales.
 

LargeOrangeFont

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I was looking around So. Cal at prices. They are random as shit. Like I said (and Singlton point out) you can get a house in So. Cal not far from the beach for the prices I'm seeing in Az. in places that are outside of L.A. and bigger cities. but then you look at other places and it's just as stupid. I was looking at my grandparents old house in Resida they sold in the early 80s. It sold last year for nearly 800k....In the fuckin valley!!!
The prices may be similar, but it is 4x the house in Havasu for $800k.

Put another way, an $800k house in Havasu, would be double, triple or more here depending on the area.
 
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J&k x-flight

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Neighbor bought in July 2020 at 360k just sold it at 480k. And he did some pavers in back and cleaned up pool area maybe spent 10k.....
we could of bought the house in 2017 for 255k but choose not too and bought our house at 212k with one car garage but with pool and all current upgrades..
We did rv garage and more upgrades..
Wonder what it's worth now🤔🤔.. Can't replace it.....

its insane what there getting for the houses now..
 
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Desert Whaler

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I spent the last few years exploring the river itself in my rig and run as much water as possible.
I wanted to get a feel for where I may like to possibly buy some small place somewhere.
I've ran my little rig from the Imperial Dam up past the 10 at Blythe . . . and from Havasu Spings to just above Pirates.
I haven't ran up to Needls/ Bullhead / Davis Dam section cause I'm unfamiliar and I hear there's rocks.
I'm re-thinking my plan now, as so much has changed, and prices are dumb. I may end up with a truck camper so I can be mobile, & it's only 4+ hours from HB.
I was considering buying something and renting it in the summer, and spending the winters out there, but I think it'd be more hassle than worth.
I was at Martinez last week . . . boy has that place changed . . . we'll see.
 

Singleton

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The real issue with that logic on the old Havasu home is that current actual cost of construction ( no contractor fee) on a 1,600 square foot house with an rv garage, or even just a 50' garage with a 9' door is 300k plus and will never go all the way back down to the levels of 5 years ago for many reasons. Add in the lot price ( even at 2017 prices say 55k ?) and I don't see the whole package going back down that far . With all the money printing combined with demand it's like going to Baja in the 80's and buying a tank of Pemex for a zillion pesos or whatever it was 😁 . Prices will fall at some point, but like stocks they have no memory of prior price. Odds are you'll make a killing over the next 25 years on the Carlsbad home though ! I always track realtor.com and zillow for Needles listings as well , and the turnover volume there over the last 12 months has been unreal with the # of contingent, pending and competed home sales.
I understand the math and logic.
As I said, I can’t get over my perceived value of what a Havasu house should cost. I have a cap on what I will spend on a vacation/retirement house. Might have to rethink that cap once my middle kid is out of college, but for now my perceived value thinking keeps me from purchasing in Havasu.
 

MK1MOD0

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Havasu has definitely made a jump. But..... it isn’t too far off from making another jump............ right off a cliff. That balloon is awfully big at this point.
 

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Well that’s kind of the problem everywhere right now is value vs perceived value.. As everyone knows the value is ultimately what someone is gonna pay for it. Most of our perceived value comes from the idea that a lot of us have been coming here forever and know what it used to cost vs what it is now.

I see 8,000 dollar jet boats selling for 18k.. Of course I look at it and say looks like 8k, but guys are selling them all day long. The fact that Havasu was the #1 travel destination in the USA last summer didn’t help... After that I don’t know if we are ever going back to normal prices.. It never occurred to me to think about it, but I never thought I’d see the name Havasu on the same list as “The Hamptons.”
To your point, it is not going back, unless the lake runs out of water. Middle aged or retirement aged folks are buying there as they plan for or enter into retirement. They have solid steady incomes and they are cashing out to come to Havasu. They are buying nice houses so their kids and grandkids want to come visit and so they can entertain friends. These aren't houses that are going to be foreclosed on. This isn't shipping Grandma to the dry heat where she can just live cheaply anymore.

This new generation of relocated people and retirees alone will float the town, now add in all the weekenders.
 

petie6464

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You can always tell when someone has little history buying RE. I'm holding now because I have enough, if I didn't I would still be holding and hedging on a cool down that will probably be a while while still looking hard for something to rehab.

Those thinking it's all gonna come crashing down probably said the same thing five years ago and are kicking themselves today.
 

MK1MOD0

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You can always tell when people have little history buying RE, and way to much confidence in the economy. I bet people who bought in 2007 were kicking themselves in 09. Those that said Silicon Vally would come crashing down were right.
 

NicPaus

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Sage advice:
Buy when things are cheap.
Sell when things are expensive.


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Yep. I worked on 4 rentals last year. Customer sold 5 rentals. 1 the tenant bought. He made 640k-1,000,000.00 on each. Bought in 2010-2011. 1 was record sale in Torrance my Realtor said. She got 1,820,000.00 He paid 800k and we put in new kitchen, bathrooms, flooring and paint before listing when tenants moved out.
 

MK1MOD0

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I’ll just say, in two years or so, I may be looking for a pad in Havasu. But personally, I’m going to get one in Florida first. Havasu is ok, but doesn’t hold a candle to Florida as far as boating is concerned. Also no Income Tax in FL. 👍
 

Tooms22

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What does everyone say about people moving back to cities and close suburbs?

You have schools, sports, concerts, bars, restaurants, concerts coming back online in full swing. You have clients that want to meet in person more. You will have in person meetings even if it's mostly remote work.

Will people still want the boat and house payments when they only go 5 times a year?

My wife said she read that there's been a lot of buyers remorse for 1) Not actually liking the area as much because they put offers in so quick to get the house and 2) Not understanding how much work homeownership is (vs. condo, apartment, house rental).

I also had a buddy move to Missoula, MT from OC a few years ago. He said I used to think I want to live on 100 acres miles and miles from any town. Now, on Sunday nights in Missoula, I only have like 10 places to grab food after 8pm within 10 miles of my house. He said that sounds like plenty but you had 100 options in OC. It's a big difference. He said, I now know I want to be relatively close to at least a medium size town in MT.

So will city people realize they actually like city living? Will they miss all the diverse places to eat? Will they miss the never-ending entertainment in cities? Will they hate homeownership?

Basically, will the market cool off and dip (not crash) just because supply will increase and demand will decrease?
 

HB2Havasu

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Havasu has definitely made a jump. But..... it isn’t too far off from making another jump............ right off a cliff. That balloon is awfully big at this point.
Real Estate always has and always will be a Supply & Demand Commodity. Currently Havasu Inventories are at an all time Low while Demand is at an all time High. As long as interest rates remain relatively low, and employment gains continue to push in the positive direction I see no driving factor for prices to fall off a cliff as you say unless Jao puts the economy into a death spiral with crazy tax increases or another endless war? This is not a Havasu Issue, it is a national issue. Price increases are happening all over the country. With Material Costs continuing to increase I think you could see another 20%-30% of price increases thru early 2023. I'm expecting the economy to flatten or go negative somewhere around the middle of 2023 to the beginning of 2024. Should make for an interesting election cycle again? This Balloon isn't popping for a while, lol. 🤪
 
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Tireman

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BOUGght my little house in havi last year sept 319k
zillow says 367k now....i wont sell thought..love it there
 

Fenderbender

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What is really crazy is how the Mobile homes and small properties have doubled in the last 2 years. 250+ for a crappy mobile on average
 

LargeOrangeFont

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What does everyone say about people moving back to cities and close suburbs?

You have schools, sports, concerts, bars, restaurants, concerts coming back online in full swing. You have clients that want to meet in person more. You will have in person meetings even if it's mostly remote work.

Will people still want the boat and house payments when they only go 5 times a year?

My wife said she read that there's been a lot of buyers remorse for 1) Not actually liking the area as much because they put offers in so quick to get the house and 2) Not understanding how much work homeownership is (vs. condo, apartment, house rental).

I also had a buddy move to Missoula, MT from OC a few years ago. He said I used to think I want to live on 100 acres miles and miles from any town. Now, on Sunday nights in Missoula, I only have like 10 places to grab food after 8pm within 10 miles of my house. He said that sounds like plenty but you had 100 options in OC. It's a big difference. He said, I now know I want to be relatively close to at least a medium size town in MT.

So will city people realize they actually like city living? Will they miss all the diverse places to eat? Will they miss the never-ending entertainment in cities? Will they hate homeownership?

Basically, will the market cool off and dip (not crash) just because supply will increase and demand will decrease?

A few thoughts related to Havasu specifically - Very few people are relocating to Havasu that have not owned a home before. Those people have spent time in Havasu and know what they are getting into.

The question if they will use it enough is up to them. In the medium to long term the house will appreciate in value. As I said earlier, most that are buying there now are playing the long game and have retirement in site or are entering retirement.
 

WhatExit?

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Ha Ha. I paid $7,500 for a lot and 39K to build a 2 bedroom 2 car in 86’. Should have bought more lots at the time. 🤔
This is the SHOULD HAVE thread:rolleyes:


Bwahahahaha....there are gonna be some upside down mutha fuckas eventually. Fuck that shit. No way that shit is gonna stick imo. 😁
There he is, the eternal optimist 😁
 

Dennis-19

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The market is crazy. I have been listing and selling a lot of lots at the river lately. They are flying off the shelves!
 

Boat 405

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Bought Jan of 2020, added a pool, backyard, a retaining wall that everyone said couldn't be done, pavers in front driveway, a lot of upgrades in the home. Supposedly I could get close to a $1mil for it today.. Totally dumb, No interest to sell because i use it a lot. My job hasn't changed and probably won't, wife's job same. We are actually spending less time on the water and more at the house and in the pool.
 

billperkins3@att.net

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Same in Carlsbad (1 mile from beach). We purchased for low 6, got an offer for 1.1 (house is not listed). I told the agent 1.6,buyer pays all closing costs, agent fees, etc and you have a deal. Got no response (that was the plan). If I could clear 1M I would sell in a minute :)

The big problem - we currently don’t want to move (next move period will be when daughter starts middle school) and places around us are going for insane money.
Moving from Carlsbad..... c'mon now. Whats not to like down there.....
 

billperkins3@att.net

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Have friends that just paid well over a million on a house a few months back in havasu. Super nice house, but crazy pricing for a second home. It’s insane.
It’s like havasu is a millionaires playground now.

So glad we got the family vacation house in 2010.

82k for a 3 bedroom 1 bath.
5k for adding a second bathroom off the patio. (Converted laundry room to half bath
35k for a 50ft boat garage a few years ago.
38k for the pool last year
About 160k total invested. Seems like a steal right how. I have no idea how much the house is worth, but never selling it.

Just need a concrete driveway which is impossible to get a quote for right now. Don’t even want to know what that cost now. It was 3k a few years ago for a 3 car wide driveway.
Smart fucking money right there.... but really who knew right.
 

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I think you did pretty good on your last sell and your new purchase. 🤔 All about timing
Yeah, we nailed it, made a shit ton on the foothill house and found the house in the Refuge with twice the square feet that was marketed all wrong, selling realtor was clueless, didnt mention the RV garage, lousy pictures etc., that was July. We are up $300 - 400K since on it.
 
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