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

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

May 2012 Market Watch Update

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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
                    

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

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

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

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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/

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