Tag Archives: Mohave County

7 in 10 Homes Sold in Less Than a Month in September

October 23, 2020 Ben

The numbers: Existing-home sales increased for the fourth consecutive month in September, as the U.S. housing market benefitted from low interest rates.

Total existing-home sales rose 9.4% from August to a seasonally-adjusted, annual rate of 6.54 million, the National Association of Realtors reported Thursday. Compared with a year ago, home sales were up nearly 21%.

“Home sales traditionally taper off toward the end of the year, but in September they surged beyond what we normally see during this season,” Lawrence Yun, the trade group’s chief economist, said in the report. “I would attribute this jump to record-low interest rates and an abundance of buyers in the marketplace, including buyers of vacation homes given the greater flexibility to work from home.”

Economists polled by MarketWatch had projected existing-home sales to rise to a median rate of 6.36 million.

What happened: The fast pace of home sales has quickly dwindled the remaining supply of homes on the market, however. More than seven in 10 homes on the market in September sold in less than a month.

As a result, by month’s end the total inventory of homes for sale dropped to a 2.7 months’ supply, the lowest on record. A 6-month supply of homes is considered to be indicative of a balanced market.

Source: Existing-Home Sales Soared in September—7 in 10 Homes Sold in Less Than a Month | realtor.com®

Here in Mohave County sales are brisk with residential sales continuing in “boom” territory, and many sales are closed over the original asking price. It’s a feeding frenzy.

Land sales have picked up, and we’re seeing real appreciation for the first time in many years. Anything with a septic, or better yet a well is hot these days. Gotta go, there’s the phone again….Ben

Real Estate

Real Estate Update April 2020

April 27, 2020 Ben

We started off April, very concerned about the coronavirus, and here at the end of the month, we’re still concerned, but ever more hopeful as it appears that the lockdown will probably do more damage than the virus. Only time will tell, but we sure have all been stunned at the rapid change to every aspect of our lives, and not just here, but world wide.

Real estate has continued at a brisk pace in Mohave County with some slowing in residential sales, but overall still very strong. I believe that once our economy is opened from its’ current strangled state that we’ll see a surge of pent up demand, especially from southern California.

Meanwhile, suddenly Yucca Arizona land is a hot item. We’ve seen a big uptick in land sales from everyone who actively works here. For the first time in many years, we are seeing the inventory begin to clear a bit, and finally some price appreciation. One can only hope…

It makes sense to me, as I feel a sense of security here on 40 acres that I wouldn’t have in a locked down city. While its somewhat tedious to have virtually no personal social contact, it’s pleasant here, and I don’t feel boxed in at all. The garden keeps every spare moment occupied (and sometimes the guitar does too!)

Solar power is liberating from the grid. Decentralization allows one to adjust to changing conditions whether it be cloudy days, extra power needs for the hot days etc. It’s challenging to adjust your lifestyle to your power production, but having redundant systems brings a peace of mind that being dependent on government or utility companies can never give.

Besides the natural beauty that we experience here on a daily basis, there’s the knowing that my neighbors and friends here are for the most part, very independent and self sufficient. Many are far more prepared than us, but more importantly, helpful and supportive.

April is ending on a hot note, and by hot, I mean the actual temperature. We’re seeing an early heat wave going from pleasant 70s to warm 90s virtually overnight. Yucca will see 100 degrees this week. Often, the hot weather signals a big slowdown in land activity. We’ll see if this year is different. – Ben

Real Estate

Real Estate Update March 2020

March 27, 2020 Ben

My how the year has changed from what I had expected in early January.

We were first aware of the Coronavirus in late January, and although it was alarming even at the early stages, life pretty much went on in the same way. Sales were brisk, and the New Year appeared to be very bright indeed with residential sales soaring in the tri-city area , and even Yucca seeing a good revival.

We were in like a lion at the beginning of March, but now an ominous quiet has appeared with residential showings dropping off during the massive lock-down as many potential buyers come from nearby California.

Yesterday, two cases were confirmed in Mohave County, breaking our streak of zero, and popping our comfort bubble here. We have friends in the medical community, and we’re worried as well for their safety.

Land interest has happily continued, and while we won’t show anyone in our own vehicle now, many buyers opt to go out on their own anyway. We’re happy to have them follow us if they prefer a live agent. I’ve been making the rounds to see that corners are marked, and everything is fairly easy to find. We’re still getting calls and emails every day.

It is comforting to live on 40 acres. We feel somewhat removed from the craziness in the cities. Having our own power source (solar) and our own well/septic, as well as amply prepared soil for a garden is a decidedly good thing when sheltering in place.

We’ve always been modestly prepared, and we were picking up a few things weeks ago before all of the panic buying began. Sadly, I didn’t manage to get my hands on masks, but we did have a couple on hand.

We’ve managed to keep our human contact to a minimum, but have relented to a weekly trip to town for mail, groceries, and garden supplies. I have a vehicle in town that has been repaired, and I will have to go in with someone to reclaim and return it here over the weekend. It may be the last trip for a while. Wash your hands!

Land, Real Estate

August Real Estate Update

August 1, 2019 Ben

It’s the dog days of August, we can see the two dogs in the morning skies, that is Canis Major & Canus Minor. Canis Major has the brightest star visible from earth, Sirius.

This month we would normally be shuffling papers, and trying to get chores done before the heat gets too oppressive, like say by 8:00 am. Surprisingly, this year the calls and emails have continued through the summer, which has been mercifully nicer temperature wise too. We’ll see if sales follow; one can always hope. We have had a noticeably better year overall with a good positive trend that we’ve needed here.

The monsoon rains are very late this year. We had rain for about a minute one night last week, but that’s been about it. The humidity is higher now though. We had been 6-10% humidity most of June and early July, but now it’s more typically 25-35%. This weekend will see temperatures a high as 111 degrees in Yucca. We’ll be a precious few degrees cooler where we are, but it’s hot!

I believe that Yucca is the last great bargain in the West. We’re relatively close to smaller, but centrally located small cities, and those (Kingman, Lake Havasu City, and Bullhead City) are becoming pricier as we see an influx of new residents. While it’s 2-2 1/2 hours to Las Vegas, that leaves many possibilities for visits from family and friends. California is just 20 miles from Santa Fe Ranch Rd., and one can be at the beaches in a little over 5 hours (avoid rush hour!)

The opportunity today I believe is in trying to extend infrastructure (as in grid power,) or by finding good property and adding septic, well and even a home.

There is a need, but many don’t have the wherewithal or physical capability to take on a home building project. To me it’s a young man’s dream, but the builders do work very hard, and are often subject to the whims of the market as we’ve seen over the years.

Considerable electric and phone infrastructure already exists around Yucca, and one can easily envision more development. Sun City, Yucca? Don’t laugh. We have water, power, rail, interstate, and thousands of acres of inexpensive (relatively) land.

Meanwhile, as we’re more than 20 miles out, I don’t think we’ll have a Circle K at the corner any time soon.

Arizona, Land, Real Estate

Real Estate Update June 2019

June 4, 2019 Ben

We’ve had an extraordinary year, both in terms of rainfall, and also in terms of just nice weather. Instead of suffering through days of 100 plus degrees, it’s been pleasant 80s & low 90s. Everything is so green and beautiful this year.

People have discovered that Yucca is not only an inexpensive destination, but a high quality of life place too.

It’s all meant a big uptick in interest in the Yucca area. We’re putting in long days answering questions ranging from costs of solar systems to wells and septic systems. Between showings, emails, and a steady stream of calls, our days are fully occupied.

Blah blah blah, the travails of a land guy. Anyways, back to work…

Have a great June!

Arizona

More Snow Pics

February 24, 2019 Ben

Well, at the risk of being too much like the family member who has to show all of those endless vacation slides, here goes more snow pics.

We spent all day Friday, running around trying to capture the snowy scenery on our land listings before it all disappeared. Yesterday, I drove up Hualapai Mountain Rd to catch some views of Kingman from above. Here’s a few: