 About Lake Havasu AZLake 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 gone up tremendously in the past several years and 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. We are building a brand new mall, The Shops at Lake Havasu, located on the north side of the city close to the airport to be opened sometime in 2008. J C Penney's, Dillard's, and PetSmart have opened their doors as well as the new Super WalMart. There is a planned new movie theatre and many other stores too. Close by will be a new auto mall. 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 just 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, the Senior Pro Rodeo, 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. While we are experiencing some slowing of the real estate market as in many other parts of the country, the market is still active. 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." Real Estate in Lake Havasu is an ever-changing event. In Oct. of 2008, the median single family home price was $170,000. There were 87 single family home sales, the highest priced home sold for $825,000, the lowest priced home sold for $87,000. Average home price for Oct.. was $218,811. Compare that to Sept. of 08 when the highest priced home sold for $1,000,000, and the lowest priced home sold for $60,000. Avg. home price for Sept. was 240,509. Median home price for Sept. was $189,000. The condo market held fairly steady for October, there were 5 condos that closed escrow in Oct., compared with 7 in Sept.. The high condo sales price in Oct. was $160,000 and the low price was $99,975, median price was $142,900 and avg. price was $133,480. There are some great deals to find in Lake Havasu at the current time. Donna Blanchette is a experienced realtor with over 15 years in the Lake Havasu real estate field. 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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