Tag Archives: Real Estate

Some Heading to Arizona, What States People Are Leaving

Living on a fixed income, retirees are looking for ways to make their budgets stretch—and New Jersey’s high home prices and property taxes don’t make it an attractive place to stay.

The Garden State’s median home list price of $389,050 in November was about 21% more than the national list price of $309,000. It’s also a lot more than Arizona’s median price of $350,050 and Florida’s median price of $335,050.

But the high cost of living isn’t dissuading millennials from moving in. The state offers plenty of high-paying jobs, as well as many towns within commuting distance to New York City that are attractive to those just starting out and establishing their careers. There were still more folks aged 34 and under moving into New Jersey than out of the state, according to United.

Top states folks are fleeing

  1. New Jersey

2. Illinois

3. New York

4. Connecticut

5. Kansas

6. Ohio

7. California

8. Michigan

9. North Dakota

10. Iowa

Source: The State That Americans Are Fleeing—and Where They’re Winding Up | realtor.com®

The article says that Arizona is the #3 destination overall. Anecdotally, many Californians are buying residential in Mohave County. According to the Title Company, the vast majority are from California.

January Real Estate Update

This year is off to a good start. Activity has picked up after a somewhat slower fall season. Like clockwork, our sales are best in the first quarter of the year. I’m not sure if it’s end of year bonuses, New Years’ resolutions, snowbirds or what, but it’s always welcome to be busy again.

The discouraging part is the sales prices. We’re still seeing what I consider “vulture pricing.” The sales today are often at depressed prices. The hope is that these will finally sell, (and the truth is that there are less in the basement price-wise now,) and we’ll be able to see an uptick.

Meanwhile, in the cities, the prices have continued to rise in Mohave County as we experience an exodus from California. At some point, the purchase of raw land will make more and more economic sense and the prices should rise. One can always hope anyway…

19630 Wagon Trail – Just $139,900

Update: Pending!

Check out this one!

Lovely home in private spectacular location. Wonderful open floor plan feels so comfortable. Bay windows & high ceilings add to the spacious feeling. Beautiful views in every direction from the two new decks.

Up close Hualapai mountain views, Mohave mountains, panoramic valley vistas, and also the nearby McCracken mountains.

Access via County maintained Alamo Rd. & Association maintained roads. Nice 3,220 foot elevation. Lush with Juniper, Joshua Trees, Ocotillo, Barrel cactus, zillions of wildflowers.

Many items staying: washer, dryer, refrigerator, stove plus many useful items also available/negotiable. Good well, brand new pressure pump, 40 gallon pressure tank, 2,100 gallon storage tank inside a nice pump house. Brand new roof. Huge storage shed. 17KW propane generator with very little run time, plus additional backup generator. Propane tank can be transferred. Add a solar system, and you’re all set!

Everything looks fresh, shows well. Evaporative cooler (portable) stays. Priced for quick sale, the property has been lightly used, but well maintained – don’t miss this one!

Continue reading 19630 Wagon Trail – Just $139,900

Victorian Flair on a Budget

Victorian homes in the United States have been wildly popular since the late 1800s, precisely because they are built to last.

The rise of mass production of modular building parts, delivered by rail, enabled Americans around the turn of the century to create their own unique home designs, riffing on the Victorian blueprint.

As a result, several types of Victorians dot the landscape—Gothic Revival, Italianate, Queen Anne, among other styles—but all boast ornate designs, detailed woodwork, and a flair for the dramatic in one combination or another.

Source: Beauty on a Budget! 10 Victorians Priced Under $150K | realtor.com®

Titan Missile Silo For Sale Near Tucson

BOLD opportunity to own a decommissioned underground Titan II missile complex. This property was once one of the most top secret of government assets and is now ready to fulfill a new mission. That mission is for you to define amongst the limitless scenarios. Secure storage facility? Underground bunker? Remarkable residence – literally living down under?

The property is situated on a 12 + acre parcel with boundless views. Private yet not too remote. Quick easy access to Tucson and just 20 minutes for supplies. 3-D interactive tour coming soon.

Shown only to qualified buyers with proof of funds or private financing. (Do not trespass or attempt to visit site without permission). For the curious but not the serious, check out the Titan Missile Museum in Sahuarita.

Source: Catalina, AZ Real Estate – Catalina Homes for Sale – realtor.com® 

(Click link for more photos)

(Update 11/19/19 – property is in Pending status)

New-Home Sales Up 7.1% in August, Near 12-Year High

The numbers: Sales of newly-constructed homes in the U.S. increased 7.1% on a monthly basis in August to a seasonally-adjusted annual rate of 713,000, the government reported Wednesday.

That’s up from a revised rate of 666,000 in July, and is just shy of the 12-year high set in June. Compared with August 2018, new-home sales were up 18%.

Because of the small sample size used to produce the new-home sales figures, the report is fairly volatile and prone to large revisions. For instance, the pace of new-home sales in June was later revised to 729,000 after an initial reading of 646,000.

Source: New-Home Sales Rebounded 7.1% in August, Flirting Again With a 12-Year High | realtor.com®

Home-Building Activity Soars 12% in August

The numbers: Construction on new houses jumped 12% in August to the fastest pace in years as the multi-family market stabilized and mortgage rates dropped, despite an otherwise volatile month.

Housing starts increased to an annual rate of 1.36 million in August, up from a revised 1.22 million in July, according to the monthly report from the Commerce Department. This was the fastest pace for housing starts since 2007. Economists polled by MarketWatch had anticipated a 1.26 million rate for starts.

Permits to build additional homes, meanwhile, rose 8% to a seasonally-adjusted annual pace of 1.42 million from July’s 1.32 million. For permits, economists polled by MarketWatch expected a rate of 1.30 million.

Source: Home-Building Activity Soars 12% to the Fastest Pace in More Than a Decade | realtor.com®

This has been the busiest year here since 2009. Here’s hoping it will continue!

Real Estate Update September 2019

It’s been an unusually busy summer in Mohave County, with brisk activity in the cities, and even renewed activity in the land market such as Yucca and Golden Valley.

While we’re not selling raw land like hotcakes, we are at least seeing more interest. The sales unfortunately seem to belong mostly to the under-priced and those with either power, septic, or even a basic structure such as a shed.

The weather has cooled (it’s in the 60s today!) As the weather becomes cold up north, but pleasant here, we expect quite a bit more activity as we move into fall and into the first quarter of next year.

Pending home sales jumped nationally in August, perhaps as many buyers took advantage of today’s historically low interest rates.

Pending home sales August 2019 (Source Bloomberg)

I believe that all of the long term dynamics of Arizona and Mohave County will continue to drive more residents to this area. Those dynamics being: low taxes, lower housing costs, good quality of life, and rural yet near Las Vegas, Phoenix, and Southern California.

Continue reading Real Estate Update September 2019

The Real Downton Abbey on Airbnb

With the “Downton Abbey” movie premiering on Sept. 20, many of the show’s fans may be wondering: What would it be like to live like Lord and Lady Grantham in such a posh place?

Well, here’s your chance: Highclere Castle, the real-life Downton, located in Hampshire, England, will soon be up for booking on Airbnb! And best to set your alarm to beat the crowds.

Reservations open Oct. 1 at noon, British Standard Time. Only one night is available: Nov. 26. The cost of this unforgettable experience is shockingly cheap, at $159. Making the deal that much sweeter, Airbnb will donate a portion to the International Federation of Red Cross and Red Crescent Societies.

Source: Inside the Real Downton Abbey—Now Up on Airbnb | realtor.com®

Top Ten Hottest Houses this Week

Here’s the top ten most viewed listings (and they’re not all super expensive.)

The cover picture is from a $14.8 million dollar home on Dale Hollow Lake on the Kentucky/Tennessee border. As a child, we’d sometimes spend a few days on a houseboat at Dale Hollow. Lovely spot…

It isn’t owned by an A-lister, but that fact didn’t put a damper on the public’s interest in a massive, 61-acre estate in Byrdstown, TN. The $14.8 million lakefront spread racked up the most clicks this week and wound up as the week’s most popular home on realtor.com®.

The gated mansion sits just two hours outside Nashville, high on a bluff overlooking Dale Hollow Lake. The huge, 31,600 square-foot home casts an imposing shadow on the rugged and pristine terrain below. It was completed in 2017 and is currently owned by an entrepreneur, according to listing agent Charlie Neese.

“The current owner believes it to be the second-largest house in the state at the moment,” says Neese. The agent then dashed our hopes for a country music connection. “The owner is an entrepreneur, not a celebrity from Nashville. It’s such a unique property, that’s the reason it’s attracting so much attention.”

Source: Massive $14.8M Tennessee Mansion Is the Week’s Most Popular Home | realtor.com® (Click to see all ten homes)