Today I got a call from a client I have been working with for the past 6 months, we have looked at over 20 homes all in the neighborhoods of there desires. They have been heart broken now for the 4th time because they procrastinate on making an offer hoping the homes would not be purchased and drop in price.
I have been reviewing with them that homes are selling in Bullhead City and not staying on the market for as long as they use to so prices are very affordable right now along with interest rates at a historically low rates. I asked them why are they waiting so long to make an offer on the home that meets there wishes and desires. He paused and said don’t you watch the news, did you see the news this morning foreclosures are at 1 million I said hold up…
Lets take a look a step back from the doom and gloom of foreclosures and declining sales prices and lets focus on what you have experienced first hand in the last 6 months. I was doing some research today for another client and I made this discovery that I would like to share with you. In Bullhead City most of the foreclosures are priced at fair market value and are not being sold for pennies on the dollar most are priced based on location, Condition and age.
Long term demographics support my theory that now is the best time to buy a home. The U.S is adding only about 600,000 new units a year & long term growth in new households is 1.3 million per year. Today most college graduates have chosen to live at home with there parents and some couples have put off getting merried, in 5 to 6 years of no housing growth I believe we could see in Bullhead City Arizona and Fort Mohave Arizona a big housing shortage. In the peek of 2005 2.1 Million Homes added, 2006 1.81 Million Homes, 2007 and 2008 1.34 Million, by 2009 555,000, Bullhead Citys population is expected to grow from 40,000 to 100,000 in the next 30 years and Fort Mohave Arizona is expected to explode.
With 1.3 million people per year entering the workforce and starting a family it may become a big problem & home values would spike again along with mortgage rates, jobs and growth means homes in Bullhead City Arizona and Fort Mohave will become more expensive. Bullhead City Arizona has alot to offer over other parts of the country. Lots of sunshine, no polution, Great schools and much much more.
Today there are 137 Foreclosures available for sale in the Bullhead City, Fort Mohave, and Mohave Valley communities, I have something available for everyone from sizes to prices to living on the Colorado River. I wish I had a crystal ball that would show there may never be another time like this to own the Home of your dreams at such an affordable price. Call or e-mail me today for more information on purchasing a home lots of Financing options still available also before this opportunity is gone. Pamela Mello Bullhead Laughlin Realty 928-219-9155 Pamela@PamelaMello.com