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|  About Lake Havasu AZ
Lake Havasu Arizona real estate makes a great winter playground, summer getaway, investment opportunity or full time home base. Located on the Colorado River, the western boundary between CA and AZ, Lake Havasu is approx. 150 miles from Las Vegas, NV and 200 miles from Phoenix, AZ. Property values in Lake Havasu have proven to be well worth the initial investment.
There are several new building oportunities in the Lake Havasu area, including Havasu Foothills Estates, Sailing Hawks Village, Vista Del Lago Estates, and the Villas at River Ranch to name a few. The new mall is still under construction, with new stores opening. Called "The Shops at Lake Havasu," it is located on the north side of the city close to the airport. J C Penney's, Dillard's, and PetSmart have opened their doors as well as the new Super WalMart. The new movie theatre opened the week of 12/15/09; Aeropostle and Famous Footwear are now open as well, with others coming soon. Yea, the new Michael's craft store opened the weekend of May 2nd 2009 to crowds of anxious shoppers! Close by is a brand new Chase Bank and McDonald's, and the new auto mall is open. There are new residential developments on the island as well, and the industrial park should be coming in the near future. Located on the I-40 corridor will be a new Wal-Mart distribution center, and Chrysler bought the Ford Proving Grounds off of I-40.
Lake Havasu boasts near-perfect weather which makes our location so attractive for many different events. Lake Havasu is host to the Skat-Trak World Championships (professional personal watercraft tour), the Relics and Rods Run to the Sun (a specialty street rod car show), the Winterblast Western Pyrotechnics Convention and Fireworks Show in February, the Senior Pro Rodeo in January, and many Bass Fishing Tournaments, just to name a few. There is something to do every weekend in Lake Havasu! If you would like to know more about local events, click on the Havasu Happenings button for a current calendar.
Many local realtors feel as though the market may have hit bottom. While about 50% of the homes sold are foreclosure homes, it is a great time for those who could not afford to purchase a home in the past to do so now. Our inventory is down with only about a 6 month supply of homes on the market. These homes are selling for around 95% of listed price. As Gary Keller says in a recent Outfront publication regarding media claims about the state of the housing market, "Anyone who says this is an awful time to buy a house is showing their lack of understanding about how real estate buying (or selling) works. To begin with, residential real estate is simply not a national market product. It is a local one. Saying from a national position that this is either a good time or a bad time to buy real estate is like saying the national forecast for the U.S. today is 92 degrees. It is an irrelevant and useless perspective. Real estate is a local market product and the only thing that matters is what is happening in your local market." Lake Havasu will always be a vacation destination, close enough to get here quickly, but far enough away from the big city hustle and bustle.
Real Estate in Lake Havasu is an ever-changing event. In March of 2010, there were 184 single family home sales, it was a HUGE month for real estate sales in Lake Havasu, up from 113 units for Feb. In March, the highest priced home sold for $1,800,000, the lowest priced home sold for $40,000. Average single family sales price for January was $188,212 and the median price of a single family home was $143,000. Days on the market averaged 141. Compare that to Feb. of 2010 when the highest priced home sold for $1,200,000, and the lowest priced home sold for $37,000. Avg. home sales price for Feb. was $170,970. Median home price for Feb. was $130,000. The condo market had a nice boost in sales in March with 20 units closing escrow. The high condo sales price in March was $270,000 and the low price was $34,000. Our winter season is winding down and our summer second home buyers are beginning to show up. Many Canadians and other folks from colder climates (our snowbirds!) purchased property this year now that prices are so affordable again. However, the prices of single family homes are so attractive at the present time, that buyers are leaning more towards the purchase of a single family residence rather than condos with an association fee. The current inventory of single family homes on the market as of mid April is around 643, the lowest number in months, less than a 6 mos. supply. The inventory has been steadily decreasing in the preceding months, great news for our sellers and creating a bit more urgency for buyers! There are some great deals to find in Lake Havasu at the current time. You may not see prices like this again! And with interest rates at lows not seen in years, you can't afford NOT to buy!
Donna Blanchette is an experienced realtor with over 15 years in the Lake Havasu real estate field.
Be sure to check out the Home Search button to begin your search for property. Or simply fill out the My Dream Home page and I'll take care of the search for you!
For knowledgeable service in the Lake Havasu AZ real estate market, contact Donna directly at 928-486-8770 or toll free 888-530-8162. | |
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Donna Blanchette is your Lake Havasu Real Estate Expert
- Homes, Condo's, Vacation Properties, Land, and Foreclosures -
Email: blanchet@citlink.net or Call (888) 530-8162
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