Bullhead City Arizona Welcomes 2010! Michael and I hope that you and your family were able to enjoy a relaxing and pleasant holiday season. Now that the decorations have been put away and extra pounds put on, our thoughts turn from the holiday season to reality. What will 2010 bring? Will the market continue to stabilize? To understand where our local real estate market is going we must understand where we have been: I decided to look a bit further in the looking glass to recall where Bullhead City and the surrounding communities were three years ago. The chart below shows signs of improvement in the real estate market. Can it be that the light at the end of the tunnel is within sight? With fewer homes for sale on the market, we have about 4.5 months of inventory. . Most exciting is the number of home sales that have sold in the Bullhead City, Fort Mohave and Mohave Valley. Another encouraging factor is that we are experiencing fewer homes expire. With fewer homes expiring, pending sales up and the number of sales nearly even with 3 years ago, the data certainly looks encouraging. Price is the big concern as the median sales price continues to decline. It is the unknown of the shadow inventory the experts continue to worry us about. For prices to stabilize and eventfully increase we need the inventory to continue to decrease. True, if there is an increase in the homes for sale, we could see a dip in our local real estate market which could include the median sales price. Single family homes sales in Bullhead City, Fort Mohave and Mohave Valley Arizona were up 62% during Dec 2009 vs. Dec 2008. Our average home sales price has increased 6.3% to $149,920 with the median sales price dipping 2% from $135,000 to $132,726. The month of December closed the year with 84 single family home sales of which 74% were either foreclosures or short sales. Country Ranch GMAC Real Estate is proud to announce that our agents represented 32% of the non distressed home sales. We have the tools and insight to assure help regular home sellers get their homes SOLD. December 2009 finished the year with 33% fewer homes on the market giving us 4.5 months supply of inventory and a 70% increase in homes under contract. 
After digesting the results, it is apparent that we are still in a "Pricing War" and "Beauty Contest". If we are not the winner in our category, we will likely see many days on the market and fewer showings as the market continues to correct itself. . As always, we need your home in its "Kodak" appearance to out-shine the competition. We only have one chance to make a good first impression with the buyers. Thank you for your continued confidence in us. We are committed to getting your property sold and helping you achieve your real estate goals. November saw home sales decrease with the median sales price dropping to a record low of $120,800 down from $133,000 in October 2009. Non distressed homes sales were up claiming 35% of the market. With the extension of the first time home buyer and the return buyer tax credit in place with the new expiration date of April 30, 2010 we have seen more buyers entering the market. With this good news, you can expect that over the November saw home sales decrease with the median sales price dropping to a record low of $120,800 down from $133,000 in October 2009. Non distressed homes sales were up claiming 35% of the market. With the extension of the first time home buyer and the return buyer tax credit in place with the new expiration date of April 30, 2010 we have seen more buyers entering the market than we usually see during the holiday season. I have included a link under my name the details the tax credit. Although this is a tough market for sellers, it is definitely the Time to Buy. 
Single Family Home Sales- Bullhead City, Fort Mohave and Mohave Valley Arizona | | | | | | | | | | | | Active | Pending | Sold | Average | Median | Days on | % Foreclosed | % Short Sale | % Resale | | | | | | Sold $ | Sold $ | Market | Sales | | | | J-09 | 844 | 197 | 55 | $154,882 | $124,000 | 121 | 78% | 2% | 20% | | F-09 | 777 | 178 | 63 | $173,147 | $155,000 | 138 | 60% | 8% | 32% | | M-09 | 776 | 172 | 80 | $214,404 | $155,050 | 157 | 59% | 2.00% | 39.00% | | A-09 | 705 | 278 | 73 | $157,921 | $137,600 | 127 | 73% | 2% | 25% | | M-09 | 704 | 271 | 89 | $162,176 | $142,000 | 150 | 59% | 4% | 37% | | J-09 | 591 | 181 | 88 | $153,902 | $135,500 | 152 | 58% | 8% | 34% | | J-09 | 588 | 271 | 87 | $137,712 | $130,000 | 157 | 59% | 10% | 31% | | A-09 | 679 | 268 | 99 | $151,557 | $136,000 | 150 | 61% | 7% | 31% | | S-09 | 625 | 255 | 71 | $165,744 | $137,000 | 126 | 68% | 6% | 26% | | O-09 | 558 | 180 | 80 | $142,138 | 133,000 | 128 | 58% | 13% | 29% | | N-09 | | | | | | | | | | | D-09 | | | | | | | | | |
MARKET WATCH REPORT
Specific to Luxury Home Market Bullhead City and the Colorado River has been a destination spot for travelers and vacationers alike. Many family traditions and fond memories have been created here for over the last 30 years. Waterfront living at its best with sun-filled days on the water mixed with fun filled nights on the town. Living in our countries recession and depressed housing market, what should a person do? Deciding to purchase can be a stressful decision and without the luxury of a crystal ball it can be worrisome. As we review the cost per sq ft approach to sales of luxury homes on the Colorado River, we can plainly see that prices have not been this low since 2004. The quality of home that is on the market today, is generally more upgraded with luxury amenities far surpassing the amenities in the homes selling in 2004. Will the prices slide down a bit more? We do not know. We do know that we never know when the market is bottomed out until the prices begin to increase. And then, you have missed the bottom. One thing is for certain, memories made with friends and families sharing days on the river are some of the most precious. Can a value be put on memories spent with loved ones? According to the ILHM National Report this week the current median price per sq ft in the luxury home market is $318.00. ILHM’s data is calculated from properties on the market in the most expensive zip codes in each region. Our price per sq foot is well below this average. Perhaps today is the time to buy. Manufactored Home Sales- Bullhead City, Fort Mohave and Mohave Valley Arizona | | Active | Pending | Sold | Average | Median | Days on | % Foreclosed | % Short | % Resale | | | | | | Sold $ | Sold $ | Market | | Sale | | | J-09 | 530 | 22 | 13 | $75,508 | $63,000 | 274 | | | | | F-09 | 515 | 33 | 12 | $71,202 | $62,000 | 166 | | | | | M-09 | 504 | 36 | 23 | $91,716 | $75,000 | 179 | | | | | A-09 | 477 | 38 | 30 | $71,297 | $68,250 | 184 | | | | | M-09 | 490 | 72 | 32 | $66,737 | $54,500 | 143 | | | | | J-09 | 451 | 47 | 24 | $75,317 | $60,500 | 185 | 29% | 0 | | | J-09 | 463 | 30 | 34 | $79,062 | $61,000 | 150 | 36% | 2% | 62% | | A-09 | 454 | 37 | 24 | $66,988 | $67,000 | 183 | 18% | 9% | 64% |
Vacant Land Sales- Bullhead City, Fort Mohave and Mohave Valley Arizona | | On the Market | Pending | Sold | Avg Sold $ | Median Sold $ | Days on Market | % Foreclosure | | J-09 | 1124 | 31 | 6 | $77,139 | $86,714 | 151 | | | F-09 | 1155 | 21 | 9 | $44,912 | 42500 | 130 | | | M-09 | 1045 | 6 | 12 | $61,003 | $52,181 | 171 | | | A-09 | 1022 | 8 | 11 | $74,492 | $39,000 | 212 | | | M-09 | 1113 | 18 | 8 | $53,673 | $35,450 | 213 | | | J-09 | 1128 | 15 | 22 | $138,511 | $62,805 | 161 | | | J-09 | 1092 | 14 | 13 | $48,431 | $20,900 | 76 | | | A-09 | 1056 | 31 | 9 | $34,997 | $33,015 | 172 | 56% |
Vacant Land Sales- Golden Valley Arizona | | On the Market | Pending | Sold | Avg Sold $ | Median Sold $ | Days on Market | | J-09 | 844 | 10 | 8 | $48,613 | $8,200 | 178 | | F-09 | 844 | 11 | 4 | $22,225 | $17,000 | 168 | | M-09 | 836 | 26 | 8 | $19,313 | $18,000 | 298 | | A-09 | 814 | 5 | 3 | $23,000 | $25,000 | 244 | | M-09 | 790 | 7 | 1 | $4,000 | $4,000 | 98 | | J-09 | 722 | 4 | 8 | $33,000 | $28,750 | 142 | | J-09 | 689 | 11 | 4 | $28,063 | $23,750 | 70 | | A-09 | 682 | 13 | 7 | $12,857 | $10,000 | 253 |
We are working hard to ensure that when you are listed with Team Fahey your property receives maximum exposure. The following are many of the websites your property is marketed for sale: Team Fahey.com, CountryRanchRealty.com, Google, Yahoo Real Estate, Aol Real Estate, Trulia.com, Zillow.com, Frontdoor.com, CyberHomes.com, Hotpads.com, HomeFinder.com,Backpage.com, CLRSearch.com, Oodle.com, Local.com, Propbot.com Vast.com, Lycos.com, LaekHomesUSA.com, LandWatch.com, ResportScape.com, Enormo.com, ERealInvestor.com, LandWatch.com,Military.com, MyRealty.com, Overstock.com, OpenHouse.com, InvestorLoft.com,Walmart.com, Homes.com, MyNewPlace.com, SecondSpace.com, DotHomes.com, Point2Homes.com, TheNewYorkTimes.com, TheRealEstatebook.com, LoveMyZip.com, HomeHippo.com, HouseLocator.com, TheHousingPages.com, phonetour.com, HomesZ.com, Kazorks.com, PropertyShark.com, VivaReal.us, NTXHouseHunters.com, HomeAwayRealEstate.com, craigslist.com, Backpage.com, eBay.com, kneedl.com, Areaguides.net, Guidespot.com |