Cheryl Westwood

It's easy to get mired in the gloom and doom of the economical news lately, but the fact is that homes are continuing to sell in Lake Havasu City. Per sales numbers released by Lake Havasu's Association of Realtors, December 2008 sales were up by 40% from December 2007. This is the fourth month in a row that Lake Havasu real estate saw double digit increases from the same time period last year. Due to the high inventory of foreclosed properties, the average sales price dropped 28% (from $285,852 in December 2007 to $205,704 in December 2008). This brings the total sales of single-family homes in Lake Havasu for 2008 to 1226, down only 1% from the total December 2007 sales (1237). Does this indicate a leveling out of the market? Possibly. Until the excess inventory is bought up, prices of Lake Havasu real estate will continue to be low.

It is expected that the economic stimulus package proposed by the new administration will help stimulate housing sales, lower mortgage rates even further and bring more jobs into the job market. Many experts believe that 2009 will start off slowly and start to gain a slow and steady momentum after late Spring. We seem to be in the deepest part of the recession right now. Even so, mortgage applications across the country are still up by 2.3% for conventional loans and 19.2% for FHA loans. Mortgage rates are at 5% and lower with a decent downpayment and good credit, continuing to make it a great time to buy real estate. That means that the future is looking rosier and, hopefully, the economic stimulus package may be just the shot in the arm that we need to dig ourselves out of the trenches. If you need any help with your Lake Havasu real estate needs, give me a call at (928) 680-8220 and I will be happy to help.

Having an open house is a great way to invite potential buyers into your home and neighborhood. By getting potential buyers into the neighborhood, it gives them the opportunity to check out the area's amenities such as schools, parks, shopping, and other attractions. Having an open house can also give you feedback on the home and its price.

An open house is also a great opportunity to get in potential buyers that may not be working with an agent and didn't know the home is available. An open house can help snare impulse buyers when they see competition.

I have some tips that will help you have a successful open house. Many experts will agree that these tips will help get buyers into your open house and have them making an offer you can't refuse.

· Find someone to help you. Before your open house, you will want to make sure the house is spic and span. Hire someone to help you clean the home up as neat as you possibly can. Keep model home in your mind during this process. You may want to paint the inside of the home. You will also want to depersonalize the home as much as possible. No personal photos or knick-knacks lying around. Get rid of all clutter, clean closets, polish and dust fixtures and empty trash cans.

· Curb appeal. Trim the hedges, manicure the lawn and give the exterior of the house a fresh coat of paint.

· Spruce things up by setting the dining table with your best dishes and candles, add fresh towels and new soaps to guest bathrooms, replace the shower curtain with a simple but neutral one. Purchase a new doormat for the entrance. Buying one that says something like "Welcome Home" or "One Small Step" is very clever.

· Get the pets out. It is always best to ask a family member or friend to pet sit for you during your open house. Not everyone is fond of pets and can be turned off from your home for that very reason.

· Give it light. Open all your shades or curtains and turn on all the lights in the house. Even during the day, adding light will make your home sparkle.

· Sense appeal. You've heard of curb appeal, but sense appeal is great during an open house. Serving baked goods, tea, coffee and soft drinks will create a cozy feel. To keep the kitchen tidy during the open house, use disposables.

· Lock it up. Lock up your personal possessions such as family jewels, cash, credit cards, and other valuables. There is no way to watch everyone at all times.

· Walk through. Set up a day to do a walk through of the home with your real estate agent before the open house. Ask your Realtor® for any advice.

· Weekends are best. Saturday and Sunday are the best days of the week for an open house. So, make use of both days. Plan to begin early and stay late.

· Spread the news by mailing post cards, inviting neighbors, placing an ad in the newspaper, posting on websites and put out yard signs

· Let your Realtor® do the hosting. Your agent should attend your open house and be ready for questions about the property and surrounding area.

Following these tips can make your open house a great one.

More Tips and Advice

Lake Havasu City Real Estate

Lake Havasu City Realtor® Cheryl Westwood

Tomorrow is a brand new year...a blank sheet of paper full of endless possibilities. Looking back over 2008, I have to say it's been one heck of a year! The economy hit on hard times, unemployment hit highs that hadn't been seen in decades, Wall Street came crashing down and "bailout" seems to be the word of the day for many corporations and CEOs. But, there were highlights, too. It was an electrifying election year. Sarah Palin spoofed on SNL by Tina Fey. The great senses of humor that both John McCain and Sarah Palin showed. And, for the first time in US history, an African-American was elected as president! Many people didn't think they would see such a thing happen in their lifetime. I was particularly proud of the humility and honor shown by John McCain in his concession speech.

On a completely different note, the Lake Havasu housing market seems to have started a leveling out and slow upturn in the past few months. In fact, since September 2008, the numbers of single-family homes sold in Lake Havasu have experienced double-digit increases from the same time last year (up 47% in September, 20% in October and 20% in November). This goes to show you that not all news is grim. Since prices and interest rates have both gone down and lenders are beginning to loosen the stranglehold they had on their lending standards, many people are able to purchase homes again. While it is highly unlikely that home prices will rise to the astonomical heights of a few years ago, I remain optimistic that the new year will bring about more positive changes. I wish all of you a prosperous and happy 2009!

Thanks to lower mortgage rates and sales prices, Havasu's single-family home sales showed a 20% increase in November from the same time last year. The average sell price is down from $275,558 in November 2007 to $187,354 in November 2008. Year-to-date sales figures are down only slightly from the same period last year (3%). This marks the fourth month in a row that sales figures have increased from the same time period as last year. As lenders begin loosening the stranglehold they had over lending standards and mortgage rates continue to decline, it is a great time to purchase Lake Havasu real estate. Just ask me how!

This Saturday and Sunday (December 20 & 21), the Havasu Bible Fellowship will be presenting a live nativity in the vacant lot at Mesquite and Library Way. Live performers and animals will be reenacting the story of Christmas from 6-10pm. It is absolutely free.

The Lake Havasu Museum of History has an exhibit of Christmas Trees and monorahs 1-4pm every Tuesday through Saturday through January 3rd. It only costs $4 per adult. Visit the museum for a special view of the holidays. For more info on this exhibit, please call 928-854-4938.

If your holidays aren't complete without viewing "It's a Wonderful Life" on TV, do one better by watching it live at the Grace Arts Live theater (2146 McCulloch Blvd) this Friday, Saturday and Sunday (December 19-21). This is the story of George Bailey, Clarence the angel and being grateful for what you have instead of being sad about what you don't have. It costs $25+ tax per adult and $12+ tax for kids. Performances start at 7:30pm on Friday and Saturday and 2pm on Sunday. For more info, please call 928-855-8272.

And, as always, the Festival of Lights is viewable every evening for free in the London Bridge area from now through December 31st. For more information on activities or real estate in Lake Havasu City, please give me a call!