Lake Havasu City Celebrates London Bridge Days

What a celebration this is! If you need another reason to live in Lake Havasu City this could be the one to convince you.

We started out with the “A Taste of Havasu” on Tuesday the 11th. This is where, for a small fee, you can sample fare from all of the outstanding restaurants in town at one place, in one evening.

Then, on the 23rd , the “Youth Talent Show” was held at the Aquatic Center. Some of those kids have real talent. The winners got to perform for the crowds on Saturday afternoon at the “Fall Fun Fair” which is designed for the children to have an event just for them. Booth after Booth of games, face painting, food. I have never seen as many children in one place in Lake Havasu before.

That is getting ahead of the schedule, on the 24th we were treated to a concert in the park at Rotary Park by a Marine Corps Band, one of four traveling bands the Marine Corps has in the US. This one was from 29 Palms, California. They played Marches for about an hour and I think all 500 folks that listened were tapping their feet.

Saturday morning was “The London Bridge Days Parade” down McCulloch Blvd and it was a grand parade, preceding by a “Fun Run” on upper McCulloch Blvd. Leading off the parade was the VFW presenting the flag and followed by the Marine Corps Band, then two delightful hours of floats, more bands, marching groups, walking groups, dogs, horses, and vintage autos. The weather was perfect for parade watching and the streets were lined with spectators.

Saturday afternoon into the evening was the “Fall Fun Fair” in the park with all those families. Then well after dark was “Lighting Cupcake”, best viewed along the water but something that could be enjoyed from anywhere in town. The Leaping Lizard Tribe rings the top of Cupcake Mountain with flares and sets them off after dark. It is a beautiful site, seeing the entire top of a mountain “Glow”.

Sunday the fun continued with the “Boy Scout Pancake Breakfast” under the bridge. Those boys cooked up some delicious pancakes and sausage for only $4.00 a plate. At noon also under the bridge, the “Duck Derby” fund raiser for the Western Arizona Humane Society took place. Hundreds of little yellow duckies bobbed along a race course set in the channel. The fun did not end there. At 3:30 pm, we sat on the grass in the ‘bowl’ area of Rotary Park and were well entertained by the AZ Shakespeare Festival presenting “As You Like It”. With Havasu’s gorgeous weather and beautiful Rotary Park, it was a perfect setting for Shakespeare.

The celebration continues. Still to come are the “Showcase On the Arts” Tuesday the 28th and then the one thing all kids (and adults alike) wait for, “3rd Annual Halloween Fright Night & Candy Walk” on upper McCulloch Blvd (Main Street).

And there is even more: Saturday November 1st is “The Freedom Bridge Island Open Disc Golf Tournament & Grand Island Park Dedication” on the island, the “13th Annual Greek Festival” under the bridge, and the “4th Annual Chillin ‘N Swillin Beer Festival” at Windsor #4. And still more on Sunday November 2nd when it all winds down with the “White Shoales Lighthouse Dedication” at Havasu Island Golf Course, and a “Praise Gathering” under the bridge.

See what I mean, this is a great time to live in Lake Havasu City!!!!!

Buying a Foreclosed Property

You have decided that it would be a prudent investment to purchase a foreclosed property.  Clean it up; with new paint and carpet perhaps even make some improvements such as new appliances and window coverings.  Rent the home until the market swings up. Great Idea!

All this said you need to be aware that purchasing a foreclosed property is not always as easy as One, Two, and Three. You must be patient, really patient, as you wait for the “Bank” to get back to you on your offer, this can take from a few days to a few weeks. Once the offer has been accepted by the “Bank” you will undoubtedly be asked to sign a lengthy Addendum that will in essence rewrite the contract you submitted to the “Bank” when you made your offer. OK the addendum is signed and returned to the “Bank” for the proper signatures and again you wait for days or weeks.  When it is finally delivered to you, the time to do a quick- really quick-close is now. The bank has “burned” up most of your escrow time and expects you to jump through hoops and climb mountains to close on time or pay a penalty each day you delay the closing.  Oh–the fun of a foreclosure transaction.

This all done, the transaction is closed. You do have a good investment, and you can get to work preparing it for the rental market.  Good Luck and Happy Investing.

Monthly Statistics Report - Sep 2008
Lake Havasu Association of REALTORS - Compiled on October 15, 2008
For areas: 4018
Sep 2008 Change from
Aug 2008 Sep 2007 Change from
9/07 - 9/08
Residential
New Listings 262 10.55% 223 17.49%

Sold Listings 87 -5.43% 61 42.62%

Volume - Sold Listings $20,701,905 5.05% $15,442,753 34.06%

Average Sale Price $237,953 11.08% $253,160 -6.01%

High Sale Price $1,000,000 11.11% $899,940 11.12%

Low Sale Price $60,000 -4.76% $89,900 -33.26%

Average Days on Market 147 -0.68% 197 -25.38%

Vacant Land
New Listings 77 26.23% 48 60.42%

Sold Listings 4 -42.86% 5 -20.00%

Volume - Sold Listings $1,976,120 102.37% $571,500 245.78%

Average Sale Price $494,030 254.14% $114,300 332.22%

High Sale Price $1,176,120 285.61% $215,000 447.03%

Low Sale Price $150,000 130.77% $45,000 233.33%

Average Days on Market 252 11.50% 312 -19.23%

Commercial
New Listings 30 7.14% 24 25.00%

Sold Listings 9 28.57% 8 12.50%

Volume - Sold Listings $1,290,704 -70.32% $3,825,052 -66.26%

Average Sale Price $143,412 -76.91% $478,132 -70.01%

High Sale Price $830,000 -65.42% $1,450,000 -42.76%

Low Sale Price $1,800 -94.00% $29,232 -93.84%

Average Days on Market 132 59.04% 112 17.86%

Multi-Family
New Listings 11 10.00% 9 22.22%

Sold Listings 3 0.00% 6 -50.00%

Volume - Sold Listings $950,000 31.58% $1,879,900 -49.47%

Average Sale Price $316,667 31.58% $313,317 1.07%

High Sale Price $450,000 76.47% $369,900 21.65%

Low Sale Price $120,000 -45.95% $220,000 -45.45%

Average Days on Market 206 12.57% 321 -35.83%

Total
New Listings 380 13.10% 304 25.00%

Sold Listings 103 -5.50% 80 28.75%

Volume - Sold Listings $24,918,729 -3.24% $21,719,205 14.73%
Average Sale Price $241,929 2.39% $271,490 -10.89%

High Sale Price $1,176,120 -51.00% $1,450,000 -18.89%

Low Sale Price $1,800 -94.00% $29,232 -93.84%

Average Days on Market 151 0.67% 205 -26.34%
ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED