Bpracing1127
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What do you think the status of this marketplace will be? Good time to buy a house for that purpose? Will nightly rates plummet?
Thoughts?
Thoughts?
Where? If you are talking Havasu, nightly rates will drop when visitors stop coming. That hasn’t happened yet.What do you think the status of this marketplace will be? Good time to buy a house for that purpose? Will nightly rates plummet?
Thoughts?
It depends...are you looking at this as a short term investment or long term? As long as the numbers pen out, the investment is solid. Most of the snow birds have solid retirements and have money to travel even in down times. As snow birding is less expensive to stay in a long term rental, it would be logical that the rental market would not take much of a hit. A lot of people will not have what it takes for a down payment or income to purchase a home in the next few years so the rental market will still be in high demand. That's my $.02.What do you think the status of this marketplace will be? Good time to buy a house for that purpose? Will nightly rates plummet?
Thoughts?
STR I'd wait...I have some cash I want to invest badly but can't find a single long term real estate investment that even comes close to making sense. The first thing people will cut is travel/vacations. I don't see anyone missing the boat if they eagerly wait on the sidelines. Save every dollar you can...The opportunities are coming...
Some people will feel the pain, but many will make a lot of $$$ if they have positioned themselves right.
OK Ashley I am ready with the two of you…..You just let me know when to jump and how high.Let’s goooooo! I’m just hanging out waiting too.
It might be months.. it might be years!OK Ashley I am ready with the two of you…..You just let me know when to jump and how high.
with how old I am I just might not make it. Can I leave you the $$$ and you do it for me?It might be months.. it might be years!
I was promised 18 months!It might be months.. it might be years!
In 2015.I was promised 18 months!
with how old I am I just might not make it. Can I leave you the $$$ and you do it for me?
1.00 rate hike coming soon!Feds Powell today: "We want to get housing market back on to a more sustainable path... I think you will see increase in housing prices to slow pretty significantly now... Higher interest rates are painful but it's the tool we have to bring down inflation... The greatest pain would be if we allowed this high inflation to continue."
As rates continue to rise (the next rate hike is predicted to be another .75) we will continue to see a reduction in affordability and a continued decrease in prices.
I'd be fine with that. Let's get straight to the point and get back on track. People much smarter than I am suggest that the rate needs to be higher than inflation, in theory.1.00 rate hike coming soon!
Get me your bank routing #, SS#, D.O.B. And I will get the funds right over to you. :looking:Gladly!!! Send me the funds today please!!
Dont forget the address!Get me your bank routing #, SS#, D.O.B. And I will get the funds right over to you. :looking:
I'd be fine with that. Let's get straight to the point and get back on track. People much smarter than I am suggest that the rate needs to be higher than inflation, in theory.
That presents a couple issues:
1. We all know inflation is much higher than "8%"
2. If that theory is true, we have a huge gap to fill.
If that's the case, we are in a real tough spot.
Dont forget the address!
Prime or Mortgage? I know, it's the same to some peopleI have a friend in the mortgage business with a mansion in Rancho Palos Verdes built on the tears doom and gloomers.
He says he has a suspicion rates may hit 10% before this is through.
I’ve been considering on selling my havasu house, and stepping up to our dream house, but unfortunately that’s like a mill plus currently. Originally I was thinking I can STR it to offset some expenses. But this new Bill passed and I’ve been trying to get a feel of how Havasu city Leaders will respond. I know in 2016 they wanted total control, but no laws allowed city. This Bill gives city power. Found this YouTube of mayor in interview last week. Looks like it rolled out March 1st.
I like a good party as much as anyone else. However, I don't see holding someone accountable as an issue for out of control situations.....like firing fireworks at & in my neighbors boat.
I’ve been considering on selling my havasu house, and stepping up to our dream house, but unfortunately that’s like a mill plus currently. Originally I was thinking I can STR it to offset some expenses. But this new Bill passed and I’ve been trying to get a feel of how Havasu city Leaders will respond. I know in 2016 they wanted total control, but no laws allowed city. This Bill gives city power. Found this YouTube of mayor in interview last week. Looks like it rolled out March 1st.
I called the city regarding this about a week ago. They’re still ironing out the details as of now their only requirement is the yearly $250.00 permit. Everything else is the same (TPT license, 24 hour contact person, etc.).
They are not enforcing this as of yet because they have not rolled out the compliance process. There will be a grace period after the city makes formal notification to landlords. Formal notification will be sent via snail mail or email. The representative was still unsure.
I also received a letter from the county indicating that I must update the house as a rental. Sounds like they will be changing the tax brackets for STR’s. I have not followed up on that yet, but will soon. According to the Havasu representative, the County letter is totally unrelated to them.
Reading between the lines of the video, the mayor sounds like more regulation will be on the way. That’s purely speculation though.
They all want their cut…Some county's are changing short term rentals to commercial on their tax assessment. Figure most places it will double the property tax.
Talk to the neighbors around it, be up front, set some ground rules for what is and what is not acceptable. First dick head that tried that next door bit off more than he could chew, renting to every tom dick and harry to try to cover his nut (these homes are over a million). Beer bottles over the wall into our pool, break ins of neighboring homes by his trashy tenants (including mine), mariachi music all night on the 4th of July, trash bags dumped over our wall, domestic violence calls, local kid parties of 50+ people, a brawl in the driveway etc. I was done, as were the other neighbors. City, LHCPD etc got involved... the owners came once ever when they bought it, never saw them again. Their property management company, and its rep were worthless...but thats another story. It turned into a war...and a war that he lost. Fuck you Jeff if you ever read this.
I’ve been considering on selling my havasu house, and stepping up to our dream house, but unfortunately that’s like a mill plus currently. Originally I was thinking I can STR it to offset some expenses. But this new Bill passed and I’ve been trying to get a feel of how Havasu city Leaders will respond. I know in 2016 they wanted total control, but no laws allowed city. This Bill gives city power. Found this YouTube of mayor in interview last week. Looks like it rolled out March 1st.
I agree about reading between the lines. Shit I registered to the Havasu Hearald to read each article written on this topic over the last few months, and even back when city tried flexing in like 2015-16. I wasn’t getting the clarity I needed from agents at open houses I stopped by, and common sense told me everything wasn’t an issue as some indicated. Shit I was more versed on this than a few (nobody from RDP). I guess we will see what the next 7 months has in store as we enter spring/summer.I called the city regarding this about a week ago. They’re still ironing out the details as of now their only requirement is the yearly $250.00 permit. Everything else is the same (TPT license, 24 hour contact person, etc.).
They are not enforcing this as of yet because they have not rolled out the compliance process. There will be a grace period after the city makes formal notification to landlords. Formal notification will be sent via snail mail or email. The representative was still unsure.
I also received a letter from the county indicating that I must update the house as a rental. Sounds like they will be changing the tax brackets for STR’s. I have not followed up on that yet, but will soon. According to the Havasu representative, the County letter is totally unrelated to them.
Reading between the lines of the video, the mayor sounds like more regulation will be on the way. That’s purely speculation though.
As much as property rights are good, nightly rent and bed tax goes directly against the zoning so it has merit. In our town there is a 300' separation spacing rule for the licenses, and the guy 2 doors down with vacant a lot between us has held it for 30 years, so he is "the one" . Excessive trash, too many cars, Christmas trees and boxes in my dump trailer in the alley out back , etc etc. One Friday night about 15 years ago we were doing a Texas hold em' for adults + swim for the little kids party when a couple young kids knocked on the door......" uh , we are having a few friends over and if it gets too loud here's our cell to call directly, please don't call the cops " . No problem . So about 9:30 the techno is pumping and my cousin Julie and her friend announce they are gonna head over to check it out. They came running back and said everyone up, you gotta' see this shit. We went over , all the furniture was out in the front yard and down by the creek, black visquene stapled to all the walls, glow sticks , gel, black lights, dj, everyone in their own X fueled Nam and the house trashed. It was awesome, couldn't have happened to a better guy, and we have great quality windows and insulation so still slept like a baby. The enforcement is now gestapo status here too, so things are mellow but STR do ruin the true sense of community.Some county's are changing short term rentals to commercial on their tax assessment. Figure most places it will double the property tax.
As much as property rights are good, nightly rent and bed tax goes directly against the zoning so it has merit. In our town there is a 300' separation spacing rule for the licenses, and the guy 2 doors down with vacant a lot between us has held it for 30 years, so he is "the one" . Excessive trash, too many cars, Christmas trees and boxes in my dump trailer in the alley out back , etc etc. One Friday night about 15 years ago we were doing a Texas hold em' for adults + swim for the little kids party when a couple young kids knocked on the door......" uh , we are having a few friends over and if it gets too loud here's our cell to call directly, please don't call the cops " . No problem . So about 9:30 the techno is pumping and my cousin Julie and her friend announce they are gonna head over to check it out. They came running back and said everyone up, you gotta' see this shit. We went over , all the furniture was out in the front yard and down by the creek, black visquene stapled to all the walls, glow sticks , gel, black lights, dj, everyone in their own X fueled Nam and the house trashed. It was awesome, couldn't have happened to a better guy, and we have great quality windows and insulation so still slept like a baby. The enforcement is now gestapo status here too, so things are mellow but STR do ruin the true sense of community.
My next door neighbor at the river rented his out for about 18 months. It was booked solid March 10 to about Oct 10 at $450 to $750 a night, but it was such a pain he stopped doing it thankfully. His ramp upstream from mine with qualified captains slicing and dicing their trailers in the current ending up onto ours, along with random pit bulls coming over when the water was low got old real quick ( most of the pit bulls and other dogs were ok except for one that went straight to try and bite my wife sitting in a beach chair that almost got put to sleep with a piece of rebar ) . At the beach in Ca the end around to the rules is the 30 day rental . This is a month to month bogus lease type deal and pretty much all the rules for the STR go out the window. All of the property managers have 30 day properties listed which are the ones who can't get the str license. There's plenty of motels for sale on loop net .I am not a fan of STR and would like to see them stopped. They all suck in my neighborhood in the Keys in Parker.
STR I'd wait...I have some cash I want to invest badly but can't find a single long term real estate investment that even comes close to making sense. The first thing people will cut is travel/vacations. I don't see anyone missing the boat if they eagerly wait on the sidelines. Save every dollar you can...The opportunities are coming...
Some people will feel the pain, but many will make a lot of $$$ if they have positioned themselves right.
subscription onlyHavasu's vacation rental market left saturated as tourism drifts back towards pre-pandemic levels
Rapid inflation of the nation's short-term rental market is leading to speculation that the bubble is about to burst.www.havasunews.com
Interesting read yesterday