WELCOME TO RIVER DAVES PLACE

***RIVER PROPERTY*** 2 BUILD, OR NOT 2 BUILD RIGHT NOW.***

2FORCEFULL

Well-Known Member
Joined
Jan 26, 2008
Messages
24,163
Reaction score
10,248
BEEN talking to a lot of people about this, answers are a dead even split....my wife says stop and hold on 2 the doe....

I have a build coming out of the ground, plans approved, graded. about ready to rail....
 

Raffit78

Well-Known Member
Joined
Apr 28, 2013
Messages
1,136
Reaction score
983
Jumbo loans are going away.

This is 2008 with a sidekick that kills the elderly


Sent from my iPhone using Tapatalk
 

Joker

Well-Known Member
Joined
Dec 19, 2007
Messages
17,060
Reaction score
8,942
There’s a lot of nice new housing in fort mohave and bullhead for sale now. I’m not sure where your end number is or how things are selling where you’re at. Are you going to be competitive with the RV homes off of Lipan?
 

C08H18

Well-Known Member
Joined
Aug 1, 2018
Messages
248
Reaction score
273
You already own the lots. Material cost will be somewhat stable. Labor may drop and you will see some benefits building now. I believe your investment in the lots will appreciate better with a home on it regardless of the market. Don't get too carried away on the new home though.
 

mesquito_creek

Well-Known Member
Joined
Sep 25, 2009
Messages
1,346
Reaction score
1,083
if you look at the last housing crash... even with contractors out of work and willing to just work for food. Build cost was 100 a sf and you could pick up house for 65 a sf.. The banks only will forgive payments for a short time and then its lather rinse and repeat.
 

Bigbore500r

Well-Known Member
Joined
Apr 28, 2014
Messages
12,891
Reaction score
20,214
If you want to
if you look at the last housing crash... even with contractors out of work and willing to just work for food. Build cost was 100 a sf and you could pick up house for 65 a sf.. The banks only will forgive payments for a short time and then its lather rinse and repeat.
The interesting thing is, Steve has the money to proceed. The workers have the ability and the legal go-ahead (construction is essential buisiness). But if Steve decides to speculate and push pause, and there are a bunch of Steve's out there......the simple decision tanks the construction market for no other reason than speculation.

It literally could be a self-induced crash lol
 

mesquito_creek

Well-Known Member
Joined
Sep 25, 2009
Messages
1,346
Reaction score
1,083
If you want to


The interesting thing is, Steve has the money to proceed. The workers have the ability and the legal go-ahead (construction is essential buisiness). But if Steve decides to speculate and push pause, and there are a bunch of Steve's out there......the simple decision tanks the construction market for no other reason than speculation.

It literally could be a self-induced crash lol
There are a bunch of spec builders, but do they determine the market or just ride along? Are spec builders not speculative by definition? I think if you are in the long game you don't sweat these things.

These "dips, recessions, pauses" or whatever you want to call them never are the same, they always take on a life of their own.
 
Last edited:

WhatExit?

Well-Known Member
Joined
Jul 19, 2017
Messages
6,067
Reaction score
11,773
If you want to


The interesting thing is, Steve has the money to proceed. The workers have the ability and the legal go-ahead (construction is essential buisiness). But if Steve decides to speculate and push pause, and there are a bunch of Steve's out there......the simple decision tanks the construction market for no other reason than speculation.

It literally could be a self-induced crash lol

Right. And we can't be doing this for much longer so it's best for him (and the US) if he keeps the build going
 

2FORCEFULL

Well-Known Member
Joined
Jan 26, 2008
Messages
24,163
Reaction score
10,248
There’s a lot of nice new housing in fort mohave and bullhead for sale now. I’m not sure where your end number is or how things are selling where you’re at. Are you going to be competitive with the RV homes off of Lipan?
I have a finished boat deep garage home at cimarron lake/ willow valley,probley let it set for a year or so,...there's a long term plan for me so no hurry...
 

2FORCEFULL

Well-Known Member
Joined
Jan 26, 2008
Messages
24,163
Reaction score
10,248
You already own the lots. Material cost will be somewhat stable. Labor may drop and you will see some benefits building now. I believe your investment in the lots will appreciate better with a home on it regardless of the market. Don't get too carried away on the new home though.
the fake news has everything in an up roar...material cost will most likely go up
 

2FORCEFULL

Well-Known Member
Joined
Jan 26, 2008
Messages
24,163
Reaction score
10,248
talking to contractors to get opinions is all over the board...but, most say this...there's gonna be a bunch that get scared and quit building..what this is gonna do is cause a shortage of homes when the fire goes out and smoke clears..those with inventory will get their price
 

Boat 405

Well-Known Member
Joined
Dec 20, 2007
Messages
2,178
Reaction score
2,546
Everyone that was living one paycheck away from missing a mortgage payment or car payment will drop their vacation homes/toys first. Everyone who was prepared for something like this will be fine. Housing prices will adjust down in the next couple years and then make a constant march upwards over time. Will we see 2010 pricing? probably not. Could we see a 25% adjustment, more than likely. But the housing market is a moving train, you have to get on it at some point and time.
 

2FORCEFULL

Well-Known Member
Joined
Jan 26, 2008
Messages
24,163
Reaction score
10,248
I’d wait a 3-6 months and see how this shakes out.
that's what my wifes says...she said the big writing on the wall was when the plans went through plan check in a week, norm is 6 weeks..
 

jailbird141

Well-Known Member
Joined
May 3, 2011
Messages
213
Reaction score
239
I am in the same boat. I own my lot in Havasu free and clear. My plans are done, lot is level and permits pulled. I hit the breaks for now and am going to wait a couple months to see if there is any movement on the builders end. I have most of the cash I will need to build so I figure if things go like I hope they will, I will be in a great position to build in the price range I want.
 

DWC

Well-Known Member
Joined
Nov 9, 2012
Messages
3,234
Reaction score
3,689
the fake news has everything in an up roar...material cost will most likely go up
Building material costs are pretty damn low right now. Lumber, drywall and wire costs aren’t going to get any cheaper. Labor market should be better than the last couple years. If it’s a long term hold you’ll make some cash. If it’s a short term deal it could be a different story.
 

jetur3

Well-Known Member
Joined
Sep 4, 2014
Messages
539
Reaction score
728
Hard to say if this is a flash in the pan like Y2K or if its the real deal.

I see builders that are publicaly traded putting projects on hold for obvious reasons. The builders that are not publicaly traded are pushing even harder than a month ago because they see this as an opportunity. The reason they are pushing forward harder is because the housing demand still exists in their current building locations.

I would look at two things.
1) Is there a housing shortage where I want to build.
2) Is this location only looked at as a vacation property or, would someone buy it as a primary residence. (As we all know vacation homes get hit the hardest and fastest during a down turn)

Another thing to take into consideration is if the economy repeats 08 sub contractors are going to build your house a very large discounted rate just to keep key guys in paychecks.
 

2FORCEFULL

Well-Known Member
Joined
Jan 26, 2008
Messages
24,163
Reaction score
10,248
I am in the same boat. I own my lot in Havasu free and clear. My plans are done, lot is level and permits pulled. I hit the breaks for now and am going to wait a couple months to see if there is any movement on the builders end. I have most of the cash I will need to build so I figure if things go like I hope they will, I will be in a great position to build in the price range I want.
did you have a general pull the permit?
 

JLG614

Active Member
Joined
Apr 17, 2017
Messages
25
Reaction score
11
My Family was about to start building a 100 unit storage complex in havasu next month. We put a hold on it the day before we signed the loan. We own the property outright so its not a big deal if we wait. We are going to push forward with the grading and walls which will take about two months and reevaluate at that time whether we push forward with the build or not. I assume we will know alot more about where the economy is heading at that time
 
  • Like
Reactions: DWC

Dirtbag

Well-Known Member
Joined
Aug 24, 2016
Messages
2,341
Reaction score
2,572
if you have cash right now....once this blows over and everything settles....this is when the rich get richer...more millionaiires and billionairres will be made in the next year than ever before
 

LuauLounge

Well-Known Member
Joined
Jul 24, 2010
Messages
1,173
Reaction score
1,224
Is that where multi-millionaires become millionaires and multi-billionaires become billionaires?
 
Top