Bullhead City Real Estate Investments: 2012

With almost three quarters of 2012 behind us it is clear that the average and median home sales prices in Bullhead City, Fort Mohave and Mohave Valley are coming up! Median and Average sales prices have not been consistently this high since the first half or 2009. In more recent history, September 2010 was the last time our market had a median sales price higher than July 2012 median sales price. Our real estate market in Bullhead City, Fort Mohave and Mohave Valley continues to out perform itself month after month during 2012. Inventory of homes for sale continues to remain under 300 as the number of homes sold for the year is 615. Continuing at this rate, we will likely finish 2012 with slightly fewer home sales that 2011 but our average and median sales price will increase over last year.


	Average Sold Price	Median Sold Price	Average % Foreclosures	# Homes Sold	Average # Homes For Sale

2012 to date	$132,923	$119,156	39%	615	285

2011	$130,667	$114,079	51%	973	393

2010	$125,290	$116,736	61%	1037	460

2009	$158,209	$136,633	63%	949	662

Good news for the Bullhead City Region, according to the Council of Community and Economic Research, the Bullhead City region is the most affordable region in Arizona. Six organizations making up the Economic Recovery Committee are taking this news seriously and leveraging it to increase growth to our area. With a simple goal in mind “Making our Region Grow”, the committee has set their sights on adding 1000 new residents to the area every 12 months. The link to the video below was given to the City Council Members Tuesday evening by yours truly.

www.bhcrei.com

Wednesday, August 15, 2012

2012 River Regatta - YouTube

1058 E. Dike Rd Mohave Valley Riverfront

Riverfront Home For Sale:

Property is on a deep part of the river. Home has large open floorplan with wet bar, fireplace, granite countertops and tile floors. Master suites on both levels. Upstairs has open seating area, large bedroom and bath with river views. Huge walk-in closet and separate laundry room. Finished boat deep two car garage. Detatched garage has 50' deep bays, 14'door and guest house. Gated entrance and block wall fencing make this your private river retreat.

http://www.bhcrei.com/Listing/VirtualTour.ashx?listingid=63200405

http://www.facebook.com/BHC.LHC

Community Events, Discussions, Area Photos Videos, Real Estate, Homes For Sale

Your source for Bullhead City & Lake Havasu City Az area foreclosures, real estate and homes for sale. A great resource for updated real estate listings of foreclosure homes, riverfront homes, pool homes, residential homes, condos, riverfront property, commercial property, and vacant land for sale.

http://www.facebook.com/#BHC.LHC

Home builder confidence hits five-year high

Home builder confidence hits five-year high

U.S. homebuilder sentiment rose in August to its highest level in more than five years, a fresh sign that the battered housing market is turning the corner, data from the National Association of Home Builders showed on Wednesday.
The NAHB/Wells Fargo Housing Market index gained to 37 this month from 35 in July, the group said in a statement, topping economists' expectations for it to hold steady with last month.
It was the highest level since February 2007 and the fourth month in a row sentiment has improved. The index has surged by more than 20 points since last summer, though it is still far from the 50 mark that shows more builders view market conditions as favorable than poor.......

Click Below for Full Article

http://economywatch.nbcnews.com/_news/2012/08/15/13296170-home-builder-confidence-hits-five-year-high?lite

Thursday, June 21, 2012

Top 5 reasons not to pull the trigger on a home in this real estate market...

1. Your fear of committment... atleast that's what your 27 ex-fiancees would say.

2. You're concerned about your financial future,,,ofcourse you are; otherwise you would be living under a bridge in Old Bullhead.

3. You're delusional, you beleive there will be a big leg down in the market and in 11 months you can buy that ...2,500 sq ft pool home with the change in your couch cushions.

4. Something better will come along, it always does.. with that line of thinking... why did you marry your wife? Penelope Cruz is still available..

5. You would prefer to work with Mary Jane housewife/realtor; who spends her days sitting on her butt; smoking newports, eating bon-bons and watching Lifetime Movie Network.. She'll never ask you to make a decision.

;) It's Almost Friday... Enjoy your weekend!!!!

www.bhcrei.com

Tuesday, June 19, 2012

May 2012 Market Watch Update

www.bhcrei.com

May numbers came in as I predicted in our April newsletter. Single family home sales dropped slightly from 94 in April to 80 in May. Just an opinion but I believe this is due to the shortage of inventory to choose from. Just this week two sets of our buyer clients were thrust into multiple offer situations. One couple purchasing a riverfront foreclosure home and the other a short sale home in Desert Lakes Estates. Both couples offered above asking price and neither couples offers were high enough to beat out the other buyers.

With the inventory continuing to remain lower than in previous years, the May average sales price ($138,716) and median sales price ($124,950) exceeded April’s average sales price ($129,774) and median sales price ($122,500).

I spent some time recently, reviewing the Zillow.com/research site and discovered the following which I want to share with you. Nineteen of the thirty metro areas covered by the Zillow Home Value Forecast are predicted to reach a bottom in 2012, or have already reached a bottom. Several of those are expected to see significant home value increases in the next 12 months, including the Phoenix (6.5 percent), Miami-Ft. Lauderdale (5.6 percent) and Tampa (2.5 percent), according to the forecast.

Although our local market is too small to be mentioned it is continued good news to hear that our state capital, Phoenix, is leading the way in housing recovery.

http://www.realliving.com/Steve-Kuncho-Real-Estate-Agent

Friday, June 15, 2012

2590 North Ridge Ave Asking $159,900

Immaculate home in Sunridge Estates; minutes from Lake Mohave and Laughlin NV. Split floor plan with open concept kitchen/living room. Room for RV/Boat parking or build the monster garage. Covered patio and serene garden area for the morning cup of coffee. Call today to schedule your private showing.

http://www.realliving.com/Steve-Kuncho-Real-Estate-Agent/homes-for-sale/AZ/Bullhead-City/86429/2590-North-Ridge-Ave-75449925/popup

Wednesday, June 13, 2012

Permanent Luau in Hawaii - WSJ House of the Day - WSJ.com

Friday, May 11, 2012

Sante Fe Style Home; Minutes to the Lake and Casinos

Beautiful Custom Sante Fe style home inside and out. One owner with numerous custom features, 3 car garage with large observation deck. Den/study, formal dining room, utility room. Casino and mountain views; minutes to Lake Mohave. Asking $214,900

Click Here for Detail View

Wednesday, May 9, 2012

April 2012 Market Watch Report

Dear All,

With 2012 in full swing we are for the first time in years seeing indications that prices may be on the rise. Our real estate market in Bullhead City, Fort Mohave and Mohave Valley continues to out perform itself month after month during 2012. For the forth consecutive month in 2012 we have experienced more homes selling, increased average and median sales prices and fewer homes on the market for sale!

You all know, I have been the perpetual optimist throughout this housing crisis bringing hope and results to all that have a pulse on our market. Watching the market indicators, looking for trends I am thrilled that this year may be the beginning of the end. Numbers during 2011/2010 indicated we are into the leg of the L, with local home sale prices stabilizing and inventory of homes on the market decline on the yearly average..

Dramatic changes in year over year market sale statistics:

	ACTIVE HOMES	PENDING SALES	CLOSED SALES	# AVG.DAYS ON MARKET
APRIL 2012	269	168	94	133
APRIL 2011	451	258	85	140
APRIL 2010	416	226	91	118
APRIL 2009	705	278	73	127
APRIL 2008	1045	104	68	195

	AVG SOLD $	MED SOLD $	% FORECLOSURE SALES
APRIL 2012	$129,774	$122500	39%
APRIL 2011	$124687	$114500	60%
APRIL 2010	$116182	$110000	65%
APRIL 2009	$156921	$137600	73%
APRIL 2008	$199519	$177500	Unknown
APRIL 2007	$277603	$235000	Unknown

Bottom line, Real Living Country Ranch agents report frustration from buyers that remained on the fence during 2011 as home selections are dramatically fewer this season than last and although there are great deals to be had there are very few steals. Percentage of foreclosure sales has dramatically reduced their grasp on the market as there are fewer and fewer foreclosures entering our market. Hyper hysteria rumors about shadow inventory continue to be a player but it may turn out that they are just that, a rumor. Again, it’s too early to tell.

2012 is definitely shaping up as the year to get in the game as I expect we will continue to see the home sales price increase trend continue. With diminishing homes on the market we could see a slight drop in number of home sales due only to the fact that buyers can not find what they are looking for.

For real people selling their homes prices may still be slightly out of reach but time is rapidly closing the gap. Looking to buy, sell or invest; the time is right!
Again, thank you for all your continued support for without you, we would not be experiencing this level of success. Please call or email us with any of your real estate needs!

http://www.realliving.com/Steve-Kuncho-Real-Estate-Agent
http://www.facebook.com/BHC.LHC
http://www.bhcrei.com/

Thursday, April 12, 2012

Market Update March 2012 BHC AZ

With spring in the air, the Bullhead City, Fort Mohave and Mohave Valley real estate market is coming into bloom. Sales activity continues to flourish in spite of dwindling housing choices. Active homes on the market are down 30% over last year’s average. March sales numbers were strong with 93 single family homes closing escrow. Average and median sales prices saw a boost during March over February and January sales prices as well.

Buyers are becoming increasingly frustrated with only 276 homes to choose from, another 187 that are under contact and 93 closing escrow during March. Add the pending homes and the closed homes bring us to 50% of the homes on the market are experiencing some sort of sales activity. Regular home owners with their homes on the market gain traction as they are optimistic that the gap between their asking price and sales price gap will narrow in the coming months

Foreclosure shadow inventory continues to be elusive as to whether it will emerge in our Bullhead City, Fort Mohave and Mohave Valley markets. Foreclosure home sales claimed 42% of the market which was down over from 2011 average of 51%. As discussed in last months newsletter we await the increase in average and median sales prices to emerge during 2012.

Many of you have emailed requesting an update on the ENN Solar Project in Laughlin. News regarding the project has been little to none. I am not too surprised as ENN under strict guidelines and time line to satisfy their end of the contract. The Laughlin Times did have a small repetitive article yesterday.
http://www.laughlintimes.com/articles/2012/04/11/news/local/news998.txt

www.bhcrei.com

http://www.realliving.com/Steve-Kuncho-Real-Estate-Agent

Thursday, March 29, 2012

Lake Havasu World Cup April 6-8 2012

http://www.golakehavasu.com/events/details/551/havasu-world-cup/

Move over Easter Bunny! The lake will shake with the sounds of the big V8 engines powering the Grand Prix Hydroplane racing boats to speeds of over 150 miles per hour as they race for the Havasu World Cup Easter Weekend 2012.

Racing will begin Friday, and will feature the Holiday Motorsports Dash for Cash. Open testing for all classes begins 9am till 4pm. Heat races on the one mile course are scheduled for Saturday and Sunday, with the possibility of additional morning testing on Saturday and Sunday. Other classes scheduled to be in the event are 1 litre, 2.5 stock, 5 litre, and Super Stock. Additional classes may include 350, Cracker Box, and Grand National Endurance.

Don't miss the excitement, the weather, and the fun-loving crowds at the largest gathering of Grand Prix boats at the inaugural East vs. West challenge for these waterborne rocket ships. The Nautical Beachfront Resort is the host hotel for this APBA sanctioned event, with the action taking place on a one mile course set up in the protected waters of Thompson Bay.

The Havasu World Cup promises to be a weekend of boat racing not seen since the days when McCulloch used boat racing to promote the city!

http://www.bhcrei.com/

http://www.facebook.com/BHC.LHC

Market Update Feb 2012 BHC AZ

The median sales price dropped from January and the percentage of homes (79%) selling under $150,000 increased to an all time high, while the number of homes for sale dropped 61% from last year at this time
I continue to expect that as the inventory of homes for sale continues to drop and the sales continue to remain steady, prices should begin to come up. Well considering the Niagara Falls price drop we have been experiencing for years, I remain positive that these slight dips are merely bubbles in the brook. The two most perplexing changes are the large number of homes selling under the $150,000 price point and the fewer than 300 homes for sale. During the month of February homes selling under $150,000 made up 79% of the market with 50% of those homes being foreclosures and 7% being short sales. This is good news for the upper end of our market as most of these sales are what we now refer to as “normal” or “non distressed” sales. I wonder, if we had more of these homes on the market that were price well or had added value that the buyers were willing to pay for, would we have more sales in this price range? Has our inventory shrunk so far that we don’t have the right home for buyers in our area?
Currently there are 284 homes for sale in Bullhead City, Fort Mohave and Mohave Valley. Just looking at the month of February over the years the number of homes for sale is down to 284 from 451 last year; down from 456 of 2010; down from 777 of 2009; and down from 969 of 2008. Let’s look at February again and as mentioned the number of sales continue to either increase or remain consistent with 76 sales this month; 65 sales in 2011; 89 sales in 2010 (give some credit to the first time tax credit); 63 sales in 2009; and a measly 36 sales in 2008. I’m getting off tract but in 2008 we had 16.4 months of inventory contrast that number to the 4.8 months of inventory today.
I remember when the real estate bubble started in Bullhead City. The $100,000-$125,000 price range was always experienced the most sales. Suddenly there were no sales at this price point. Was there not a market for this price point? No, the homes in this price range did not exist and the new price point that saw the most sales was $125,000-$150,000 and on up the market went.
While statics are easily found on line and our median sales price rolls in at $95,000, I guarantee you that we will be hard pressed to show you homes in this price range today. If you choose to shop in this range you will be greatly disappointed as there are only 7 to choose from and you may run up against multiple offers and homes in disrepair. Don’t let the over rated median sales price fool you. The reality is that most of the homes creating this number are foreclosure homes in need of repairs. They require plenty of work and would be ripe for any Home Disaster DIY television show. Investors and cash buyers are quick to relay what a low price per sq foot they pay for homes. On the flip side, I have never had one relate how much they have earmarked to repair their homes.
Of the 284 homes currently on the market for sale, there is only one home built as recent as 2011, two built 2010, two built 2009 and a whopping six built in 2008. There are a handful of homes that can be built on a lot, but are not started. With home sale number remaining strong, inventory at an all time low I think it may be time to consider the new home or at least a non distressed home. Perhaps not the mega home of the pre bubble years but an affordable reliable home that can be purchased with a warranty instead of a bank “as is” addendum. Perhaps spending a bit more at the closing table instead of coming out of pocked thousands or tens of thousands during your first 90 days of home ownership may make more sense. And by the way, a few more dollars at the closing table at 4% interest for 30 years may be a better deal than hard cold cash spent on repairs.
Thank you all for your support and referral business. Call or email me with all your real estate needs.

http://www.realliving.com/Steve-Kuncho-Real-Estate-Agent

http://www.bhcrei.com/

http://www.facebook.com/BHC.LHC