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the HOME TEAM
928-486-8770 Donna
928-486-3043 Lisa
HomeTeamHavasu@gmail.com

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World Jet Ski Finals coming in October!

 

 

The Blowsion World Finals is the most venerable and prestigious single personal watercraft event in the world. With an invitation-only policy attracting over 750 of the world’s best personal watercraft racers, the World Finals have been the cornerstone of International Jet Sports Boating Association (IJSBA) racing. In its 36th year, racers from around the world make the pilgrimage to Lake Havasu City every October for the opportunity to vie for the world champion title on the international stage.

In addition to the week-long World Finals, the dynamic, innovative and creative free-style action of the Pro Freestyle Expo is taking place on Saturday, October 7, in the Bridgewater Channel under the London Bridge! As part of the ongoing competition in the freestyle and slalom classifications, selected competitors will compete in this special event in the Channel and all are welcome to watch from either side of the Bridgewater Channel.

Also, be sure and give a warm welcome to the many nations competing in this event at the IJSBA Parade of Nations under the London Bridge on Tuesday, October 3.

Entrance to the World Finals is free. Many vendors and plentiful beer stands. Come early to get a good spot in the bleachers, especially on Freestyle day. Check the IJSBA website for schedule and other details. Event dates, times and/or details are subject to change. Please contact event coordinator to verify information.

https://golakehavasu.com/event/ijsba-world-finals/

How Long Do Most Families Stay In Their Home?

How Long Do Most Families Stay In Their Home?

How Long Do Most Families Stay in Their Home?

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

How Long Do Most Families Stay in Their Home? | Keeping Current Matters

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.

With home prices rising dramatically over the last several years, 93.9% of homes with a mortgage are now in a positive equity situation with 78.8% of them having at least 20% equity, according to CoreLogic.

With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.

One other reason for the increase was brought to light by NAR in their 2017 Home Buyer and Seller Generational Trends Report. According to the report,

Sellers 36 years and younger stayed in their home for six years…”

These homeowners who are either looking for more space to accommodate their growing families or for better school districts are more likely to move more often (compared to 10 years for typical sellers in 2016). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!

What does this mean for housing?

Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; They could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family.

These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge in the current housing market, this could be great news.

 

HAVASU RIVIERA UPDATE

Like the rest of the town, we are excited about the new Havasu Riviera development!  It will encompass 550 acres of land on the south side of Lake Havasu  between the lake and Hwy 95.  

The masterplanned community is designed to include residential units of mixed use with single family, condos, multi family zoning, a 300 unit resort hotel with dramatic lake and desert views, surrounded by natural open space featuring 2 miles of shoreline-fronting property.

Residents and visitors will appreciate the new waterfront amenities and lake access including a marina, new 200 slip boat storage, dry storage facility, lakefront restaurant and bar and a much needed new 6 lane boat launch.  Future projects will feature fun and educational extras to the project including a botanical garden, golf course, trails, multi use paths , public parks and landscaping that will connect central Lake Havasu City to the Riviera and the lake.  Also planned is a waterfront restaurant and bar.

 

We've been in contact with the developers of the new Havasu Riviera project and wanted to pass on the information to you.  Here is what they said last week:

We have made some progress in the last three months, including having the grading permit in hand for Parcel 1 of the housing community.  We are expecting to break ground in September, but we have been waiting on final approvals for the marina so we can do grading for both at one time.  The city has updated their expectation for completion of the road.  They believe the road will be open down to the marina and our first SFR homesites by July 1, 2018.  We are expecting to have sites ready by the end of the first quarter of 2018.  We are expecting models to be under construction at that point.  That is the quick update, but overall, things are going great and momentum and excitement from the community and end users has continued to expand. 

We'll keep you posted!  If you'd like to add your name to the list of potential buyers of lots, just send us a quick email and we'll take care of it for you!