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View Full Version : Is Havasu Real Estate over priced



bohica
01-12-2004, 05:19 PM
I've been a property owner in Havasu for over 15 years. With the current real estate boom, I've watched the price of dirt go from 10-15K for a south side improved lot, go to 60K in the last year or so. I've have a few lots that I've been holding onto for a long time that some friends are interested in. I would feel kind of guilty selling to them at todays market rate. What do most of you feel about the prices of dirt in Havasu in this market right now.

framer1
01-12-2004, 05:27 PM
The property is worth what somebody will pay for it. I don't think it's overpriced compared to CA.

Ziggy
01-12-2004, 05:29 PM
Well my feeling is this. So many contractors have bought up many lots and the limited amount of buildable lots is dwindling so prices naturally shoot up. Your friends, in my opinion, are probably hoping to get a deal from you to avoid the newer prices to some degree....so make a deal that works for them and makes you a fair profit since you are the one who made the investment...you are deserving of profit. Help a friend and still make a fair coin or hold off and make great coin from the open market. I think dirt will continue to have great value in Havasu BECAUSE its a limited resource.
This is naturally only if you really even want to sell.

OutCole'd
01-12-2004, 07:18 PM
How would you feel if you sold one of your lots for a deal, below market value, your friend improved the lot, then sold it for a substantial profit?
I would sell it for fair market value.

RJ Nordic
01-12-2004, 08:49 PM
Like the man said, "It's worth what someone is willing to pay for it!"
Is it high? YES Will it go higher? Most likely.
15 years ago we thought some of the prices folks were getting in OC for property was crazy, wouldn't we all like to go back and buy a few of those over priced homes now. Might make 300%
How about those properties out at the Refuge? Do they seem over priced! 700 - 1mil An Arnold Palmer golf course in Havasu? What next? A Four Seasons or Marriott??????????

mbrown2
01-12-2004, 09:00 PM
We bought our River Place from a friend...he knocked 5% off of the fair market price....that way he made a great profit, but gave a friend a deal....he could sleep with himself on both fronts..

Infomaniac
01-12-2004, 09:04 PM
Originally posted by mbrown2
he could sleep with himself on both fronts..
????????????
;) ;) ;)

mbrown2
01-12-2004, 09:21 PM
Originally posted by Infomaniac
????????????
;) ;) ;)
I knew that would not read right.....he could sleep with himself, because he did not try and overcharge a friend, but he also made a profit from his investment..:)

bear down
01-12-2004, 10:56 PM
Do you want to sell the property? Unless your ready to I would sit on the lot till it's hit it's ceiling which I am thinking is a while a way. I think you have some jems out there which could potentially be worth more in 3-5 years but sitting on that land is probably getting old already. With all of the new restaurants (chilis'..etc..) and the new developments property values are still going to go way up! Good luck with your decision.

j-rod
01-12-2004, 11:05 PM
I look into some property in Dec. real estate values are up, maybe I'll just keep hotel it , unless I can find a GOOD deal for I find some $$..:rolleyes:

framer1
01-13-2004, 05:34 AM
I just bought a lot at the Refuge it seems hgh now, but I'm betting it won't seem that way in a year;) It's all a gamble thats what makes it fun. I bought a house at Canterbury estates about a year ago and it turned out to be a good deal. You never know.

Essex502
01-13-2004, 07:07 AM
We're going out again this weekend to scout lots and will pay market prices if we have to. Someone once said to "buy land 'cause they ain't making any more of it." and I believe it. Yep, it seems as if every realtor, banker, builder, et. al. have bought the lots and are building spec homes or sitting on them waiting for the profits to come to them. Lots that we looked at last year but were unwilling to pull the trigger on were selling for $35-40K are now $70-80K. Ouch!
Like some here said...discount to your friends enough to feel good about the deal but business is business, right? Don't take advantage of them but don't lose money on the deal either.

Mr.Havasu
01-13-2004, 09:04 AM
I work at the refuge and you can still get a lot under 100K- Considering lots in town next to the beverly hillbillies are starting to approach that range I think it is an excellent deal. Anybody want to float me a loan I'd jump on it in a second. (Sucks being poor and watching this opportunity go buy).

missboatnam1
01-13-2004, 09:58 AM
its went up alot, but im still on the market to invest there....even with the higher prices, im sure your buddies have to understand you bought them for a investment, not to be a nice guy and give them away to them!! just my .02

Essex502
01-13-2004, 10:54 AM
Originally posted by warlock25
I work at the refuge and you can still get a lot under 100K- Considering lots in town next to the beverly hillbillies are starting to approach that range I think it is an excellent deal. Anybody want to float me a loan I'd jump on it in a second. (Sucks being poor and watching this opportunity go buy).
We may just stop by on Friday to take another look. After finding $80K lots that kinda sucked on the south side it might be worth our time to see an "under $100K lot" in the Refuge.