Lake Havasu Luxury Real Estate

By Jennifer Bailey

The weather in Lake Havasu makes it perfect for luxury real estate properties. In most months, temperature ranges from 60-120 degrees during daytime and 40-50 degrees during night.
In 1997, when the population of Lake Havasu City in Arizona was at 40,000, the luxury real estate industry there reached a total of 40 establishments and a total of 85 employees.

Annual payrolls of these employees reached as much as $1,288 each. Real estate lessors, on the other hand, reached a total of 16 establishments with 22 employees.

Prices of houses located on golf courses in Lake Havasu have steadily increased. In 2003, houses were sold for around $300,000. A year after, the price increased by as much as 24%. Last year, the prices rose some more. In the first quarter of 2005, the asking price was $440,000. Two quarters after, it reached $470,000. The latest records show that the price of houses located along golf courses has ballooned to almost half a million.

On the other hand, the price of golf course lots started at $129,080 in 2003. In 2004, that price increased by more than $20,000. For the past year, the prices of such real estate properties reached its peak after the second quarter when it grew to $230,000.

Today, the real estate market has become a buyer's market. This was caused by the increase in the number of properties for sale. Builders are now pressured to come up with better products. Lake Havasu has attracted more luxury real estate investors.

Luxury estate investors usually work with real estate agents to find the best properties for sale. Agents help them find the best builders. The whole process can last from seven months to one year. Part of the guarantee of most agents is that the price of the buyer?s investments will steadily increase in years to come. They can, indeed, rake in a lot of money in a few years.

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