Real estate values are cooling in area’s around the country but you can rest assured that the Mohave County real estate market is still very strong and undervalued for what your money can buy. You will most likely command a high price selling your home now while interest rates are still low.
However, as you know, historically low-interest rates won’t last for long, we are due for a real estate price correction soon, which happens typically every 7-10 years. Real estate prices move in cycles, I want to keep you updated on what is happening in our local real estate market.
We moved here to Mohave County in 2004 from the Pacific NW. We purchased a lot and build our home. We moved on January 5, 2005. I received my real estate license in April 2004. As we all remember, in around 2006 the markets were on fire, the prices were going up 25-100% all over the country. Then the bottom fell out leaving many home owners upside down in their homes. It was not the buyers’ fault it was the lenders! They were giving loans without documentation, over 100% loans to “pay” you to buy a home. It was a very sad time, that I’m sure felt just like the depression did so many years ago.
Of course, because real estate moves in cycles, we knew that it would change over time. Some states like Oregon, Washington, California rebounded pretty fast, the reason being was they offered jobs. Here in Mohave County,
the only jobs that were out there were service jobs. The casinos In Laughlin, NV, employed most of them. Sure we had medical, teachers, County & State workers but they did not offer the same pay as other stated, so it has taken us longer to get our market moving in an upward pace. Now we have many new high paying jobs.
I am proud to say, 2017 kicked started our housing market again. We had vacationers, snow-birds and weekend players on the river/lakes. As I followed the pricing of homes across the US, I was still puzzled why our market was still lower than so many other states. I still believe the biggest part is because of jobs, but I just don’t think people know about what we have to offer to buy so much lower than other places.
If you have been to our area you know it is a bit of a “moonscape”. We are the desert, divided from California and Nevada by the Colorado River. We have Lake Mohave & Lake Havasu within an hour drive. Las Vegas is a 2-hour drive. It truly is a “vacation” dream! You also probably know the desert gets hot! Yes, we do have the “hottest place in the nation” tag line. We go from the air in our home, to air in stores & other services, to ours. air offices. Don’t forget the casinos in Laughlin offer you a very cool gaming room.
I have worked in the housing industry for 15 years. I know what is happening in Mohave County, specifically pertaining to home values that can directly affect you. So, I am starting this blog to keep you updated. I hope to be able to provide valuable & useful information to help you stay on top of what is happening in our communities.
I really want to help by giving you answers that are true. If you have a question that needs to be answered or need additional information, please ask! If I pick your question within 7 days, I will offer a $25 Starbuck’s gift card.