who listened to 2FF a year or so ago???

[2FORCEFULL]

a while back , year or so ago I said.... get your name on a deed if you ever have a thought of having havasu property as RE is gonna double...

well,... looky here.... 790 k on your lot????

2135 Pima Dr N, Lake Havasu City, AZ 86403 | Zillow

2135 Pima Dr N, Lake Havasu City AZ, is a Single Family home that contains 2365 sq ft and was built in 2021.It contains 3 bedrooms and 2 bathrooms.This home last sold for $90,000 in November 2019. The Rent Zestimate for this Single Family is $4,186/mo, which has decreased by $126/mo in the...

www.zillow.com

 

[2FORCEFULL]

60k mobiles now 260 and up, most are over 300k

3238 Jennie Ln, Lake Havasu City, AZ 86404 | Zillow

3238 Jennie Ln, Lake Havasu City AZ, is a Mobile / Manufactured home that contains 720 sq ft and was built in 1970. The Rent Zestimate for this Mobile / Manufactured is $545/mo, which has decreased by $650/mo in the last 30 days.

www.zillow.com

 

[HNL2LHC]

Yepp, Bought 2 years ago Planning for retirement. IT has doubled and the most profitable property of ours at this point. Should be interesting to see where is lands when things go south for the correction. Not too worried since it is still a small % in th e grand scheme of things.

 

[2FORCEFULL]

390k for a mobile home with hardy no yard at all... only 10' from the neighbors home???

3009 Dawn Dr, Lake Havasu City, AZ 86404 | Zillow

3009 Dawn Dr, Lake Havasu City AZ, is a Mobile / Manufactured home that contains 1792 sq ft and was built in 2021.It contains 3 bedrooms and 2 bathrooms.This home last sold for $319,000 in November 2022. The Rent Zestimate for this Mobile / Manufactured is $1,500/mo, which has increased by...

www.zillow.com

 

[BHC Vic]

I was thinking about it the other day. You did say it for sure…

 

[2FORCEFULL]

guru's predict a 30% increase this year,..... rv garage homes went up 100k since jan, and are not slowing down... good building lots are pretty much gone...

 

[2FORCEFULL]

the thing with RE values is they all rise like the tide... people that bought mobiles for 40-60k now are selling for over 300k so over a 100k per year profit..... not bad for a house on wheels, on jack stands with no wheels...

 

[2FORCEFULL]

this one popped up a few days ago......built in 1973... crows nest lake view.. 370k..... i drove by when it popped up,.... probley a dozen or so drive by's and looie lou's with in a hour... probley gone already

3110 Michael Dr, Lake Havasu City, AZ 86404 | MLS #1027623 | Zillow

This 1248 square feet Mobile / Manufactured home has 3 bedrooms and 2 bathrooms. It is located at 3110 Michael Dr, Lake Havasu City, AZ.

www.zillow.com

 

[dezrtracer]

Always like to listen to your point of view . Sure glad we closed on our Havasu house on 3/28/16 , and closed on our Havasu duplex on 10/31/18 . Thanks sharing your information Steve ..

 

[2Driver]

LOL but it's different this time. Timing is everything.

Fortunately for me I was in the second pic as buyer in 2013.

 

[spectras only]

same here in the Okanagan Valley. Our house more than doubled in 5 years. The world's gone cockoo. The way inflation is going it may double even more in the near future. One better find jobs with six figures and start saving for big down payments.

 

[Mr. C]

But will happen to these prices when the interest rate jumps back up 5-6%?? Does or is the market forced to balance out?
I see people buying over priced homes because they could afford cough cough it because of. 2% rate. Don’t see many being able to do it at higher rates.

 

[boatnam2]

I'm not ready yet, i will just buy something in 2 years for 3 million and sell it a couple years later for 4 million, Havasu the new Beverly hills.

 

[spectras only]

^^^
Only people buying up here who are cashing in Vancouver area [ we did 5 years ago ] and buy decent size homes with big lots while it's still affordable. We helped our son to buy his first house with 20% down payment 4 years ago. His house value went almost double too. He couldn't afford to buy the same house again today. Salaries don't adjust to these inflationary levels. Interest rates are going up here soon!

 

[foxfam312]

I'm not ready yet, i will just buy something in 2 years for 3 million and sell it a couple years later for 4 million, Havasu the new Beverly hills.

Not if the water situation doesn't get better

 

[Ziggy]

Wasn't really that hard to predict.

 

[Englewood]

guru's predict a 30% increase this year,..... rv garage homes went up 100k since jan, and are not slowing down... good building lots are pretty much gone...

Lmao. No. They do not predict a 30% increase lmfao. Any reputable “guru” wouldn’t.

 

[rivermobster]

Wasn't really that hard to predict.

Even a broken clock is right twice a day? Or something like that...



I've been watching the for sale section in the socal housing market lately. It feels like Everyone is trying to cash in! Inventory is still low, cause shit is pending almost immediately. It's crazy how many people are selling.

I think maybe a lot of people are keeping their existing property tax rates and trading up...

 

[stephenkatsea]

Heard there's now manufactured housing at The Springs listed in the 700K range.

 

[LargeOrangeFont]

Steve has made this prediction every year since I’ve been around here

He was right this time but I agree with @Englewood.

What I have noticed not being here for 3 months is that there are TONS of people now excavating their crappy lots with hills in them and making them ready to build on.

 

[2Driver]

Heard there's now manufactured housing at The Springs listed in the 700K range.

Same 700K house with a 30 year mortgage, monthly

3% $2,951
5% $3,758 ( today)
6% $4,197

At 6% to obtain a $2,950 monthly budget, 700k buyers are now shopping for a $500,000 home.

 

[WTR&PWR]

Heard there's now manufactured housing at The Springs listed in the 700K range.

True. Nice place but cash only and a lot for no deed.

 

[WTR&PWR]

Same 700K house 30 year monthly

3% $2,951
5% $3,758 ( today)
6% $4,197

At 6% to obtain a $2,950 monthly budget 700k buyers are now shopping a $500,000 home.

Good point and at the bare minimum, it softens the market. More than likely it corrects IF inflation doesn’t offset it. So many variables makes this situation so much different than a 2008. Comparing them is apples to oranges.

 

[OldSchoolBoats]

a while back , year or so ago I said.... get your name on a deed if you ever have a thought of having havasu property as RE is gonna double...

well,... looky here.... 790 k on your lot????

2135 Pima Dr N, Lake Havasu City, AZ 86403 | Zillow

2135 Pima Dr N, Lake Havasu City AZ, is a Single Family home that contains 2365 sq ft and was built in 2021.It contains 3 bedrooms and 2 bathrooms.This home last sold for $90,000 in November 2019. The Rent Zestimate for this Single Family is $4,186/mo, which has decreased by $126/mo in the...

www.zillow.com

Thanks for selling me your house in 2018 Steve, has turned into an amazing investment. Got my rate locked in at 2.99%. Life is good.

 

[OldSchoolBoats]

Always like to listen to your point of view . Sure glad we closed on our Havasu house on 3/28/16 , and closed on our Havasu duplex on 10/31/18 . Thanks sharing your information Steve ..

You guys scored Lyn, perfect timing. I remember people were talking about how crazy Havasu prices were in 2018. Several folks gasped at the $299k price we paid for ours. Market was in a "shift" then as well with rates at 5% +.

 

[Runs2rch]

Thanks for selling me your house in 2018 Steve, has turned into an amazing investment. Got my rate locked in at 2.99%. Life is good.

Fuck I wish I had your situation.

 

[LargeOrangeFont]

Thanks for selling me your house in 2018 Steve, has turned into an amazing investment. Got my rate locked in at 2.99%. Life is good.

But you are leveraged!!!!

Happy for you Joe!

 

[2FORCEFULL]

Thanks for selling me your house in 2018 Steve, has turned into an amazing investment. Got my rate locked in at 2.99%. Life is good.

you did very well...

 

[2FORCEFULL]

Lmao. No. They do not predict a 30% increase lmfao. Any reputable “guru” wouldn’t.

they went up 15% since jan,.....lmao harder....i wanna take my winnings and leave... and the prediction came from the 5 pm news in az...

 

[NicPaus]

Open house across the street now. Packed. Nice McLaren just left. $1350 a sq ft. There hoping for a bidding war to get $1420+.

If we could only predict the market.

 

[stephenkatsea]

Timing is often everything. We bought our LHC home in 2013. Over size lot, 2400 sq ft, 3 + 2, nice pool & spa, fully landscaped, a floor plan we really liked, a good view and plus it was a short sale that was surprisingly reduced 10K just prior to us making an offer. Our large empty nest in Camarillo sold at asking in one day. The lot adjacent to our new home became available and we were able to pick it up at a fair negotiated price without any realtor involvement. Married the 2 lots and built our double RV garage to match the house. So we’re now at just under 3/4 of an acre. Abundant room to build a casitas or 2nd house on our RV lot. Doesn’t matter what it’s all worth. We’re not going anywhere. We’ve been fortunate, but we worked for it.

 

[FishSniper]

Very glad that we stretched the budget in late 2019 and got one with an RV garage.

 

[HNL2LHC]

Very glad that we stretched the budget in late 2019 and got one with an RV garage.

Right!?!?!?! It is hard finding a house with RV garage or one that has the space to add one.

 

[2FORCEFULL]

this one is new, should go quick... only 1.2 M... in the foothills rv garage... and a pool..

6862 Avienda De Los Foothills, Lake Havasu City, AZ 86406 | Zillow

6862 Avienda De Los Foothills, Lake Havasu City AZ. The Zestimate for this property is $1,388,700, which has increased by $73,786 in the last 30 days.The Rent Zestimate for this property is $5,748/mo, which has increased by $465/mo in the last 30 days.

www.zillow.com

 

[PaPaG]

Market is starting to show signs of a slowdown, builders numbers have dropped, some will still sell quickly but wait til the fed increases 2 more times and watch the wall approach quickly. I am going to be very interested in seeing how fast and how low home prices get especially in these over inflated areas.

 

[FishSniper]

Right!?!?!?! It is hard finding a house with RV garage or one that has the space to add one.

Yup when we were looking wanted to find a house with a pool that had the space for future RV garage or one with an RV garage and add the pool. Glad we went the route we did and glad we got the pool done instead of waiting.

 

[Gonefishin5555]

I predict prices will keep going up until they stop going up. When that is I have no idea. 5.5 to 6% interest oughta slow it down by late summer

 

[DRYHEAT]

Saw this in a magazine I got at Safeway. I could use the 17 space garage!!! Not the price tag though. Salt water pool too.
View attachment 1105199

It does seem pretty crazy for what some more or less average houses in average areas are asking. I don’t know maybe I’m just out of touch.

3109 Palo Verde Blvd N, Lake Havasu City, AZ 86404 | Zillow

3109 Palo Verde Blvd N, Lake Havasu City AZ, is a Single Family home that contains 2052 sq ft and was built in 2017.It contains 3 bedrooms and 3 bathrooms.This home last sold for $1,350,000 in July 2022. The Zestimate for this Single Family is $1,374,900, which has decreased by $40,141 in the...

www.zillow.com

 

[HNL2LHC]

It does seem pretty crazy for what some more or less average houses in average areas are asking. I don’t know maybe I’m just out of touch.

3109 Palo Verde Blvd N, Lake Havasu City, AZ 86404 | Zillow

3109 Palo Verde Blvd N, Lake Havasu City AZ, is a Single Family home that contains 2052 sq ft and was built in 2017.It contains 3 bedrooms and 3 bathrooms.This home last sold for $1,350,000 in July 2022. The Zestimate for this Single Family is $1,374,900, which has decreased by $40,141 in the...

www.zillow.com

Saw that house a while ago. It is interesting

 

[DRYHEAT]

Saw that house a while ago. It is interesting

Pool looks nice but I sure wouldn’t want to trim all those palm trees.

 

[Englewood]

they went up 15% since jan,.....lmao harder....i wanna take my winnings and leave... and the prediction came from the 5 pm news in az...

From 1/1/22-12/31/22. Prices are not going up 30%. I’ll put My money on it, Will you??

Anyone could do good buying houses last 10 years

 

[Havasu blue label]

you did a great job in havasu keep investing

 

[boatdoc55]

It does seem pretty crazy for what some more or less average houses in average areas are asking. I don’t know maybe I’m just out of touch.

3109 Palo Verde Blvd N, Lake Havasu City, AZ 86404 | Zillow

3109 Palo Verde Blvd N, Lake Havasu City AZ, is a Single Family home that contains 2052 sq ft and was built in 2017.It contains 3 bedrooms and 3 bathrooms.This home last sold for $1,350,000 in July 2022. The Zestimate for this Single Family is $1,374,900, which has decreased by $40,141 in the...

www.zillow.com

MAJOR street, No thanks. Can you imagine backing a boat in.

 

[2FORCEFULL]

From 1/1/22-12/31/22. Prices are not going up 30%. I’ll put My money on it, Will you??

Anyone could do good buying houses last 10 years

yes, but no way to prove.. the same house I sold for 450, went to 525 in one year.. then to 725 the next,... 850 the next ,and to 950k in 8 more months.. prediction is 30% in one year.... house was 850 in dec,...it's 963 now, and thats only 3 mo in....we would have to wait till dec to see who wins.... I could be dead by then... so it's not really a bet its just a pushy way to disagree... which you very well could have said...

4/7/2022

Listed for sale

$410,000 (+182.8%)$341/sqft

7/21/2020

Listed for sale

$474,900 (+1483%)$212/s

4/1/2022Listed for sale$617,000 (+29.9%)$276/sqft
Source:

Lake Havasu Association MLS #1020709 Reporta problem
9/9/2020Sold$474,900$212/sqft
Source:

Lake Havasu Association MLS #1012000 Reporta problem
7/25/2020Pending sale$474,900$212/sqft
Source: NSP Property Management, LLC Reporta problem
7/21/2020Listed for sale$474,900 (+1483%)$212/sqft
Source: NSP Property Management, LLC Reporta problem
1/10/2003Sold$30,000$13/sqft
Source: Public Record Reporta problem

 

[2FORCEFULL]

MAJOR street, No thanks. Can you imagine backing a boat in.

that house sold for....

3/28/2017

Sold

$402,317 (+436.4%)$196/sqft

3/16/2022

Listed for sale

$1,599,000 (+297.4%)$779/sqft

it went up 300 percent in 5 years.....thats 60% a year.... right...lol...wanna bet... i'll I'll bet you anything that nothing happens

 

[2FORCEFULL]

here's mine for sale... my guess is that if i sell today,, and not wait out to see if they go up more, I'll loose 200k... but thats just a guess.... could far flat and be worth less... no guaranty with investments unless it set % for less than inflation..

95 Nelson Ln, Lake Havasu City, AZ 86403 | Zillow

95 Nelson Ln, Lake Havasu City AZ, is a Single Family home that contains 1797 sq ft and was built in 2020.It contains 3 bedrooms and 3 bathrooms.This home last sold for $700,000 in December 2023. The Zestimate for this Single Family is $722,600, which has increased by $13,753 in the last 30...

www.zillow.com

it was in contract for 1.3m... but deal fell through..

 

[2FORCEFULL]

Lmao. No. They do not predict a 30% increase lmfao. Any reputable “guru” wouldn’t.

I was just repeating what was on the news.... I have no idea whats gonna happen.... but I look and listen... short term you can see where it's headed.. Obama still has his claws in deep... for me it would be benifical for interest rates to go back to 18% on homes.... I don't pay interest.... I collect it... I know some hard money lenders getting 25% w/ 25% points up front on 1 year notes... borrow 100k, you get a check for 75k w/ pre payment penalty's so you have to pay back 125k... this works if you buy something that goes up 30% in one year and don't have the money to get in...


they also said phoenix was gonna have record heat of over 120degrees for 3 months this year and they predict power black outs... also said that this is gonna cause abunch of nor cal people to flee to cooler weather...

 

[2FORCEFULL]

hoenix Arizona Housing Market: Prices | Trends | Forecast 2022​

March 18, 2022 By Marco Santarelli

Phoenix has been one of the hottest real estate markets in the U.S. The Greater Phoenix housing market is extremely strong this year. It is a metropolitan area, centered on the city of Phoenix, which includes much of the central part of Arizona. The Phoenix real estate market has not only recovered after a slump due to COVID-19 but the demand has reached new heights.
According to Zillow's home value index, typical property values in Phoenix-Mesa-Scottsdale Metro grew by over 31% from Feb 2021 to Feb 2022, compared to 18.5% from Feb 2020 to Feb 2021, and 6.7% from Feb 2019 to Feb 2020. Phoenix-area home prices are forecasted to continue to rise at a brisk pace over the next twelve months. The supply of active listings stands at an all-time low. It would take about a month for the current inventory of homes on the Phoenix housing market to sell given the current sales pace.
According to Zillow, among the nation’s largest markets, annual appreciation was the second-fastest in August 2021 in Phoenix (31.8%). Only Austin, Texas, with 44.8 percent, beats Phoenix. The annual rental growth in Phoenix was 24.8%. Year over year, the Greater Phoenix's for-sale inventory is down 12 percent, according to Zillow's statistics. More inventory is anticipated to become available in the coming months.
A panel of Zillow's economists and real estate experts expect that Phoenix will be among the nations' top 10 hottest markets in 2022, where home values are expected to appreciate at a faster rate than the rest of the nation. Phoenix ranks at #8 while Tampa ranks #1 in that list. Zillow economists anticipate that national home values will climb by 14.3 percent in 2022, slower than the record-breaking rate of 2021 but still a market where the number of buyers exceeds the number of homes for sale. Each of the top 10 hottest metros is predicted to exceed that growth.
According to the Arizona Regional Multiple Listing Service, Phoenix home prices continued to rise as a result of extremely low supply and above-average demand, with the median sales price up 28.5 percent year over year and the average sales price is up +22.5%. The median sales price in the Phoenix region was $449,853 in February 2022. It is $99,853 more than last February's median price.
This year, February 2022, reported the highest median price, average price, and price per square foot on record, up year-over-year 28.5%, 22.5%, and 27.21%, respectively. Prices are expected to increase again in the coming month unless the situation significantly changes and when March numbers are reported, these records will be broken again.
Their pending price index projects a median sales price of $455,000 for March’s closings. The absorption rate is up month over month and comparable year over year. Historically, a market with an absorption rate of 20 was considered balanced. Currently, our absorption rate is 191.51. In February of last year, the reading was 193.06.
Months supply of inventory for February was 1.14, down from last month when it was at 1.28 months. It refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace. Historically, six months of supply is associated with moderate price appreciation, and a lower level of months’ supply tends to push prices up more rapidly. ARMLS projects the median sales price to rise to $455,000 for March 2022, and the average price is estimated to reach $573,500.
After more than 18 months of extreme seller market conditions, the Greater Phoenix area is expected to be a seller's market in 2022. In seller markets, prices do not decline, but listings may remain active for a few additional days before accepting a contract. A full-price offer may be sufficient to secure a home. Purchasers may feel less compelled to waive appraisal and repair costs.
According to Redfin, the Phoenix housing market is very competitive.

• In February 2022, Phoenix home prices were up 31.3% compared to last year, selling for a median price of $440K.
• On average, homes in Phoenix sell after 28 days on the market compared to 33 days last year.
• There were 2,074 homes sold in February this year, down from 2,124 last year.
• Around fifty percent (50.3%) of homes were sold above their original asking prices, which is 10.4% more than last year.
• About 14.2% of the listed homes were sold with price drops.
• The sale-to-list-price ratio was 101.2%.
• The average homes sell for about 1% above the list price and go under contract in around 28 days.
• Hot listings can sell for about 4% above list price and go pending in around just 8 days.

According to Redfin's data, a third of all home purchases in Greater Phoenix this spring were purchased with cash, a more than the 6-percentage-point increase from the previous year. It indicates that investors are increasingly buying properties, which is not a piece of good news for the first-time buyers in this region. According to their migration statistics, over a quarter of Phoenix's prospective out-of-state buyers came from Los Angeles. Another 17% were residents of Seattle.
Phoenix is the seat of Maricopa County and the largest city in the state. In February 2022, the median list price of homes in Maricopa County was $489,900, trending up 26.1% year-over-year (source: Realtor.com). The median listing price per square foot was $270. The median sale price was $471,600. It is a seller's market with a Sale-to-List Price Ratio of 100%. There's more demand for homes than there is supply, and it's what we see in most housing markets today.

• Paradise Valley has a median listing price of $3.7M, making it the most expensive city in Maricopa County.
• Sun City is the most affordable city, with a median listing price of $300,000.
• Phoenix city has a median listing price of $450K, trending up 28.6% year-over-year.
• The median home sold price in Phoenix is $440K.
• Arcadia has a median listing price of $1.4M, making it the most expensive neighborhood in Phoenix.
• Central City South is the most affordable neighborhood in Phoenix, with a median listing price of $309,900.

The pandemic (in 2020) could only pause sales, which in turn created a huge pent-up demand. As we saw Arizona real estate market thriving & becoming sizzling hot in the past couple of years, even the rise in mortgage rates was believed not to affect it. Low-interest rates are helping boost but the inventory is sparse. High demand and low inventory have increased prices, which is a piece of good news if you plan on selling.
As per the current trends, the Phoenix is all set to remain a seller's market in the next 12 months. The prediction is that the upward price trend will continue for the near and medium-term, making any price reductions in 2021 rather unlikely. From April 2011 to April 2021, Phoenix home prices have seen an appreciation rate of 237.84% based on the median sales price, according to ARMLS.
Table of Contents

• Arizona Housing Market Trends 2022
• Phoenix Housing Market Forecast 2022 – 2023
• Phoenix Real Estate Investment: Should You Invest in Phoenix?
  • Top Reasons To Invest In The Phoenix Real Estate Market
  • Relatively Affordable Real Estate Market
  • High Rate of Appreciation Due To Short Supply
  • The Growing Phoenix Rental Market
  • Phoenix's Growing Short-Term Rentals
  • Phoenix is Landlord Friendly
  • The Massive Snowbird Market
  • Growing Retiree Market
  • Low Taxes in Arizona
  • The Major Wave of Renovation in Downtown Phoenix
  • Phoenix, Arizona Real Estate Investment Markets

Arizona Housing Market Trends 2022​

If you are considering moving to Arizona, Scottsdale, Phoenix, and Tucson are some of the top places to call home. According to Zillow Home Value Index (ZHVI), since Marc 2012, Arizona housing prices have gone up nearly 198.8%. ZHVI is not the median price of homes that are sold in a month within a geographic region. It is calculated by taking all estimated home values for a given region and month (Also called Zestimates), taking a median of those values, applying some adjustments to account for seasonality or errors in individual home estimates. It, therefore, represents the whole housing stock and not just the homes that list or sell in a given month.
By this calculation, the current typical home value of homes in Arizona is $415,372. It indicates that 50 percent of all housing stock in the area is worth more than $415,372 and 50 percent is worth less (adjusting for seasonal fluctuations and only includes the middle price tier of homes). In Feb 2021, the typical value of homes in Arizona was around $319,000.
Arizona home values have gone up 29.9% over the past year and most likely they will continue to rise at a similar rate (double-digit appreciation) over the next twelve months. This also raises a bit of a concern that in Arizona wages are not keeping up with the rising costs of housing. When prices go up, some buyers can no longer afford to buy and drop out. The faster that pricing goes up, the more buyers tend to drop out, at least in a healthy market.
Source: Zillow.com
Arizona's housing market has over 900,000 renter households, accounting for 36% of the total number of households. According to a report from the National Low Income Housing Coalition (NLIHC), the rental prices in Arizona have become out of reach for many residents. For

 

[2FORCEFULL]

Arizona home values have gone up 29.9% over the past year and most likely they will continue to rise at a similar rate (double-digit appreciation) over the next twelve months.



so would i bet a million this is true... of corse not.... but I would bet a grand with 20-1 odds.... if I loose a grand who cares and nobody gets to know... but if I win the 20k.... whoo hooo

 

[2FORCEFULL]

the same thing happened in the boat market.... can't get a new boat for 18 mo... word gets out , guy has a 9k boat.... puts it up for sale for 29k every one laughs..... another guy with a boat just like it see the add and says hell if thats worth 29, I'll ask 35... pretty soon others jump in , now no one will sell their 9k boat for 9k any more... now they are 40k boats... 60k mobile homes are 300 plus right now and I bought 2 and only paid 205k... one for 90k and one for 115k..... I hope they go up to 5 or 600k.....


I always go by this,... history is fact,,... predictions are fiction.. flipping is a gamble..... use money you can afford to loose,... always know the market before you buy... you don't have to listen to anyone.... but pay attention to what everyone is doing....