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Havasu home sales up, prices dip in December
By NATHAN BRUTTELL
Monday, January 11, 2010 11:04 PM MST
Real estate officials expected a dramatic slide from November to December but the fears turned to a sigh of relief as the housing numbers remained level for another month.
The median closing price for residential homes dropped slightly in December to $145,000 from $145,600 in November, according to real estate figures. The number of houses sold in December rose for the first time in several months to 139 from 129 in November and 132 in October.
“I’m really excited,” said Lake Havasu Association of Realtors President Suzanne White. “For December, which is traditionally one of our worst months, to be higher (in number of sales) than November, that’s exciting. It’s showing me more people here are wanting to own a home and that’s a sign of a stable market.”
The number of houses on the market also dropped to their lowest in several months to 902 from 947 in November and 974 in October. The drop marked another positive sign for White.
“It’s great, actually. The further it goes down the better,” she said. “That will keep our prices stable, which they seem to be stabilizing in the last few months.”
Real estate agents and buyers are still finding difficulty with short sales and foreclosures, White said, but negotiating with banks may be getting easier.
“Banks are accepting lower prices, which is good, and they’re wanting to get rid of the properties and not go through the expense of the foreclosed,” White said. “There still are some issues but you just have to be right on top of the game. If the bank calls you about anything, you need to respond immediately because you may not get another chance. Some day, we’re hoping the state will get involved and streamline it.”
The closing price for foreclosures in December ($123,700) dropped from November ($130,000). White said she still expects to see more foreclosures listed in January, but the signs of leveling off might indicate fewer foreclosures hit the area than she originally thought.
“Banks keep hinting that there are going to be more foreclosed properties hitting the market but we haven’t seen them hit yet,” White said. “We’re hoping it will be minor for us because it could make things a lot tougher.”
Former LHAR President Pat Landry said she still anticipates seeing a rise in foreclosures next month.
“We know more foreclosures are coming on the market,” Landry said. “And we’ve seen a sign of that with more listed than a month ago, but sales are going through steadily.”
White said rumblings of a possible double-dip recession on the market, where the economy sees a slight rise followed by another recession, is unlikely to happen in Lake Havasu City.
“I don’t think that’s going to happen here,” she said. “Based on it being a recreation and resort area, if it does nationwide, it’s not going to affect us as hard as it will anywhere else.”
The number of houses sold in December (139) continued to rise substantially compared to a year ago (97), while the median closing price ($145,000) widened the gap slightly from December 2008 ($160,000).
“A year ago we had 1,400 homes on the market,” Landry said. “We’ve dropped more than 500 homes in a year. So to me, that’s a sing that things are getting better because people are definitely buying a lot more than they were.”
White said she expects closing prices to rise soon, but wouldn’t be surprised if it took another year.
“I’m not real certain as to when it’s going to happen. We’re going to stay level for a little while,” she said. “Our median price had one low month in October 2009 and the rest have been pretty consistent. I’m thinking it’s going to stay at this level at least through 2010 and we should see a rise after that.”
‘Good signs’ seen in housing market
November’s numbers suggest stability
By Nathan Bruttell
Thursday, December 10, 2009 7:07 AM MST
Lake Havasu City might be seeing the first “good signs” that the real estate market is on a positive trend.
“We’re seeing indications now of things getting much better for us in Lake Havasu City,” Lake Havasu Association of Realtors past-President Pat Landry said. “I know we’re hearing it’s not the same for the country, but things are definitely leveling off and getting better for us now.”
The median price for residential homes rose by more than $10,000 in November to $145,600, according to real estate figures. The number of houses sold in November continued to dip (129), but only slightly from October (132). The figures are all signs of a stabile market for Landry.
“Mid-November to January are typically the slowest months of the year, even in a sellers’ market,” Landry said. “I looked at the numbers this month, and I’m thinking this is really good.”
The number of houses on the market continued the roller coaster trend of the past four months, dropping again in November to 947 from the 974 in October and up from the 930 in September.
“Seeing that drop and knowing about 60 percent of them are foreclosures and short sales tells me that things are improving,” Landry said. “I think the market has completely stabilized.”
Landry said she’s also noticed more investors are looking at buying homes, which she said is another positive indication of the market turning for the better.
“We’ve seen a lot of investors coming in and nabbing those homes at lower than $150,000 and looking to fix them up,” she said. “It’s a good thing because it shows people are willing to invest but it also bothers me a bit because there are some who can’t afford higher prices and can’t get those homes because investors are putting a squish on them first.”
The holiday season might mean better numbers for most restaurants and retailers, but new LHAR president Suzanne White explained that for the housing market, the holidays typically mean the opposite.
“It’s definitely going better than I expected, as we haven’t seen a big dip and this month we’re actually seeing better numbers,” White said, adding that she hopes the trend to continue through the end of the year. “With the good numbers in November I think we’re going to stay about the same for December. I have people calling me up looking for deals all the time so it’s going very well right now.”
The positive numbers may not last long, White said, as one month of change does not always indicate a trend.
“It’s starting to turn for the better, but then again it could possibly go back down,” she said. “Right now the holiday numbers are much higher than I’ve seen in the last several years. I think people realize we’ve already hit the bottom and things are going to start getting better.”
The closing price for foreclosures in November ($130,000) also rose from October ($115,000). Landry said she still expects to see many more foreclosures listed in January, but the steady rise in prices and decline in active foreclosures might mean the city can weather the boom.
“We’re still expecting them to go up a lot, but I think we’re in good shape for it,” Landry said. “Short sales are still difficult to get through the banks and it’s not getting easier but we’re in better shape than we were still.”
The number of houses sold in November (129) continued to rise substantially compared to a year ago (82), while the median closing price ($145,600) is closing the gap from November 2008 ($158,950).
White said the figures might indicate a shift toward long-term thinking.
“I see some (people) wanting to (sell) because they want to move up to a nicer house with the prices down,” she said. “They might be losing a bit on their current residence, but they’re gaining more on the price of the better home. That strategy will have a much better value in the long-run.”
Home sales up from last year
By NATHAN BRUTTELL
Monday, November 9, 2009 9:36 PM MST
A decline in October home sales from September isn’t worrying local real estate officials.
Home sales typically slow during holiday months and the numbers are still up from last year, according to Lake Havasu Association of Realtors President Pat Landry.
“Our inventory has gone up some,” Landry said of the increase in residential active listings to 974 from 930 in September. “I was kind of surprised to see that, to tell you the truth. I’ve been busier than ever. I’m thinking more people are coming in now with the snowbirds and the holidays and people are thinking now is a better time to sell.”
The number of residential homes on the market has decreased in the last four months and foreclosure sales have skyrocketed, Landry said. Median prices, however, are continuing to see a rollercoaster effect in the last four months. The average median sale price for residential homes in October dropped slightly for the fourth consecutive month to $134,450 from $150,000 in September, and $152,500 in August.
The number to focus on is the 92 sales in October 2008 versus the 132 sales this year, Landry said.
“We are doing much, much better than last year,” she said. “The median price may have been higher but we’re more than making up for it in the number we’ve sold. People are seeing it’s a safer time to buy and it’s a sure sign things are getting better.”
Landry said she was pleased to see foreclosure closings stay well above the expected 50 percent marker with 74 of the 100 listings closed in October.
“We had been running at about 50 percent for a long time but just like last month, we sold a lot more of those,” she said, adding that the number of active listings (100) was another steep decline from September (142). “Gradually that number has gone down quite a bit and that’s another positive sign.”
Landry cautioned that she still expected to see a monumental increase in foreclosure listings in January due to a bank backlog of foreclosures. The backlog has also made short sales more difficult for real estate agents and buyers, she said. The median short sales closing price $162,000 in October, well above the $115,000 foreclosure closings in October.
“If the banks would listen to us and get these short sales moving, they would make a lot more money,” Landry said. “We’re still trying to get legislation passed that would be similar looking as California and it would streamline the process to make them move much faster.”
A five-month extension on the first time buyer’s incentive package has added a shot to the arm for real estate agents, Landry said.
“I think it will help out more now that they’ve included people that have owned homes from five to seven years,” Landry said. The tax credit program gives current owners up to $6,500 who have owned homes for five consecutive years during the last eight years. “We aren’t going to see a lot of first-time buyers in Lake Havasu but extending it to others will help us quite a bit.”
LHAR president-elect Suzanne White said residents should be assured that overall real estate market numbers are improving.
“Sales are still strong and that’s five months now of strong sales,” White said. “Things are looking really good.”
White said residents should also not be discouraged by an almost inevitable decline next month.
“We’re getting close to the holiday season,” she said. “It’s completely typical to see it go down during the holidays. Things are much better than a year ago, and I think we will continue to get better from here in the long run.”
Refuge homeowners leery about RV park
By JAYNE HANSON
Sunday, November 1, 2009 8:25 PM MST
Although supportive of other proposed changes, many homeowner association members at The Refuge Golf & Country Club remain leery of an upscale RV park coming to their development.
“My front yard is going to be turned into a campground,” said Refuge homeowner Lori Charlebois. The California sunbird, who travels by plane to her Lake Havasu City home, was unable to attend Saturday’s presentation at the golf course clubhouse.
Jerry and Cindy Aldridge, of Civic Center Executive Plaza, disclosed the plans for the golf course to the HOA members during a 90-minute presentation Saturday.
The presentation was a courtesy to the homeowners in the area — who have no say or vote in the process, said Rodger Delk, president of The Refuge HOA and five-year resident.
One homeowner disagrees, saying the housing development residents do have a voice.
“I think it is evident that families and investors were sold a plan that encompassed an Arnold Palmer signature golf course and an exclusive, beautiful environment,” said Lori Perry (Sejka), a California woman who purchased her Refuge home in January.
Perry said a number of homeowners plan to get together and explore legal options that would give the Refuge residents a say in the matter.
“Just because Mr. Aldridge said so, doesn’t make it so … there has got to be a happy medium,” Perry said.
The presentation included details of altering and shortening the golf course. Although the course will remain an 18-hole venue, it will lose its Arnold Palmer signature golf course status, Delk said. The loss of the course’s exclusive status and the location of 275 RV park sites dominated homeowners’ concerns.
“Nobody likes the idea of having motor homes in there,” Delk said. He said the motor home sites are “very, very high-end and upscale” areas and include landscaping, lakes and colored concrete.
The RV resort park location is set for the southeast portion of the property just inside the south gated entrance of the development. Homeowners’ concerns are that they will enter the development and see RVs on the right and on the left, Delk said.
According to county documents, the south RV area is about 24.72 acres and the east RV area is 17.26 acres. The sites will not be rented or sold and are an amenity to be used by club members. Spaces adjacent to an existing lake will be 85-by-40 feet with the remainder of the spaces measuring 75-by-40-feet.
A Mohave County Development Services representative said the RV park plan is currently undergoing staff review and will require a discretionary approval, according to an e-mail.
Developers are not required to mail notification letters to surrounding property owners but only post notification to the general public of the proposed plan adoption, according to the e-mail.
About 120 homeowners were at Saturday’s presentation representing 147 lots. There were roughly 25 in attendance with concerns, the HOA president said.
“It went well,” Delk said of the meeting. “By a show of hands, more than half were supportive.”
The Refuge’s $25 million, five-year re-development plan encompasses a ballroom, patio villas, three resort pools, fitness center, spa and tennis courts. It also would include a 300-seat, state-of-the-art live entertainment theater and private membership.
The country club will remain closed for redevelopment and will re-open Jan. 2, 2010, as a private club.
Calls to Jerry Aldridge were not returned Sunday.
Area homes sales inch up in August
By TONY WAGGONER
Friday, September 11, 2009 9:48 PM MST
Home sales in Lake Havasu City continue to be on the upswing from last year, as foreclosures continue to dominate the market.
Year to date, more than 1,070 single-family residential homes have sold within the city limits, beating the total number of homes sold up through August 2008 by more than 250 homes.
Sales are continuing to show improvement month to month for 2009. In August, 125 homes sold in the city. The number for August 2008 was 95.
“I think we are definitely stabilizing from the last couple of months,” said Lake Havasu Association of Realtors President Pat Landry said. “It is picking up out there.”
Landry said she had one home with seven offers in the past few weeks.
Foreclosures made up a little more than half of the total number of homes sold at 67 with an average price between $130,000 to $167,000, Landry said.
There were 121 active foreclosures on the market in Lake Havasu City for August, with 99 foreclosures pending. Ninety-two homes are in foreclosure in Bullhead City and 88 in Kingman.
But where Landry said the banks are still missing out is short sales. Lake Havasu City had 18 short sales in August. Compare those figures with the rest of Mohave County, eight closed in Bullhead City, four in Kingman, and it equals only 30 out of 342 homes sold total in August.
Lake Havasu City has 71 active short sales at the moment and 84 pending. The number pending is much higher than that of Bullhead City, 26, and Kingman, 28.
Too many homes are still slipping into foreclosure, Landry said, because banks are dragging their feet. The word from Washington, D.C., is banks are understaffed and overworked, causing many homes to just sit, even some that have offers out on them.
Landry said Program 3468, established by the federal government, is designed to try and prevent homes from slipping into foreclosure. Also known as the Mortgage Forgiveness Debt Relief Act, Program 3468 removes the tax burden from debt reduced through mortgage restructuring and mortgage debt forgiven in connection with short sales.
Program 3468 does have its pros and cons for short sales. The pro is if someone cannot afford to make his or her loan current, make payments moving forward or are unable to sell the property for the full amount of the loan, the lender may accept less than the amount owed as full payment.
Under the terms of a short sale, a lender could forgive the mortgage debt entirely, based upon the terms of the Mortgage Debt Relief Act of 2007. Landry said the homeowner benefits because the mandatory wait period to establish their credit is only two years. If a home falls into foreclosure, that period could be up to five to seven years.
The con for a short sale is the home must sell.
Landry said banks should have a minimum of 30 days to respond on a short sale.
With the buyer waiting for five months, but in most cases buyers are unwilling to wait that long, and the houses slip into foreclosure, because the banks are just getting back to us too late,” she said.
Another area of concern is with the $8,000 tax credit for first-time homebuyers. Landry said many first-time homebuyers need that money right away for a down payment, and they can’t get it until tax time.
While short sales and foreclosures continue to keep median sale prices down — for August the median price was around $152,500 — the total dollar amounts accrued for last month eclipsed the number from last year. Approximately $21,580,118 was collected from home sales last month. That’s higher than the $20,392,499 for August 2008.
Total sales dollars are still down for the year by almost $20,000. A little more than $195,703,000 has been made from home sales year-to-date. Last year, more than $214,425,300 was generated from home sales.
Landry remains upbeat about the way the market is going. She said she thinks it hit bottom and now will continue to improve, especially with the snowbirds returning. And with prices ranging from $130,000 to $150,000 a number of homes in Havasu, Landry said the average person could be looking at a mortgage of between $700 and $900 a month, depending on their credit score.
Thus, it’s still a good time to buy, she said.
9/4/2009
Arizonas Anti-Deficiency Law – SB 1271 – Law as it’s written
by Sean Bonini
I’ve had a lot of requests lately for updates on SB 1271 and I’ll be sending out up-to-the-minute information as I receive it. If you’d like to be put on that list Email Me.
I will also be putting information regarding this bill as well as HB 2008 (the bill that IF signed will fully repeal the anti-deficiency law) on our Az Short Sale website so feel free to check in there as well.
Also, here is the law as was slipped behind the public’s back…whoops, excuse me, I mean passed through the senate…!!
SB 1271 requires a trustor to have lived in a trust property for at least six consecutive months in order for a deficiency judgment against that trustor to be prohibited.
History
Arizona Revised Statutes (A.R.S.) § 33-801 defines a deed of trust as a deed conveying trust property to a trustee or trustees to secure the performance of a contract or contracts. A trust property is any legal, equitable, leasehold or other interest in real property which is capable of being transferred, whether or not it is subject to any prior mortgages, trust deeds, contracts for conveyance of real property or other liens or encumbrances. If a trust property is sold at auction for less than the lender is owed, the difference between the owed amount and the amount received in the trustee’s sale is called the “deficiency”. In some cases, the lender may be permitted to seek a judgment in the amount of the deficiency against the trustor, called a “deficiency judgment”.
Arizona Revised Statutes (A.R.S.) § 33-814 states that within 90 days after the date of sale of a trust property under a trust deed, an action may be maintained to recover a deficiency judgment against any person directly, indirectly, or contingently liable on the contract for which the trust deed was given as security. The deficiency judgment must be for an amount equal to the sum of the total amount owed the beneficiary as of the date of the sale either by the fair market value of the trust property as determined by the court or the sale price at the trustee’s sale, whichever is higher. However, that section prohibits a lender from seeking a deficiency judgment against a trustor if the trust property is 2.5 acres or less and is used as a single one-family or single two-family dwelling.
Provisions
- Prohibits a deficiency judgment against a trustor pursuant to a trustee’s sale of a trust property that is 2.5 acres or less and is used as a single one-family or single two-family dwelling if both of the following apply:
The trustor has lived in the trust property for at least six consecutive months.
A certificate of occupancy has been issued for the property.
Places the burden of proof on the trustor to demonstrate that the statutory requirements to prohibit a deficiency judgment are met.
8/29/2009
Good News for Lake Havasu City Real Estate! The City Council has passed the following action to change the set backs for new construction.
Here is the old rule The New Rule
Front Set back 25 ft Front setback 20 ft
Garages 25 ft Garages 25 ft
Rear setbacks Structures may encroach into rear setback up to a maximum of 5
feet for an area not exceed 50%
of the structure width.
This action applies to single family R-1, Two Family R-2, Limited Multi family R-3, and Residential Estate R-E
HOA on its own after Refuge foreclosure
By Jayne Hanson
Tuesday, August 25, 2009 10:06 PM MST
The Refuge homeowner’s association is unrelated to the golf club’s recent foreclosure and was separated mid-June when Refuge struggling developers stepped aside for the health of the existing housing community. “They (Sienna Corp.) turned over the association to the homeowners prior to the sale,” said Tom Kirchner, association manager for The Refuge Community Association Inc. The housing community’s Covenants, Condition and Restrictions were established Sept. 24, 2002, according to official association documents. The CC&Rs determine the structure of the HOA board of directors as well as all the guidelines homeowner’s must agree to observe prior to purchase or construction of a residence within the gated community, Kirchner said. In the beginning, the HOA board of directors was comprised of all five members of the Sienna Corp. As time went on, the board was later organized to include three Sienna Corp. members and two elected Refuge homeowners, Kirchner said. Now, the five-member board consists of all elected Refuge homeowners with staggered terms. “Staggered terms means two members are elected for three-year terms, two for two-year terms and one for a one-year term,” Kirchner said. The association manager discounted rumors linking sandy soil conditions to faulty foundations or craftsmanship of the homes at the Refuge. “I would be getting calls every day … once in a while, I get a call from a homeowner who is having trouble contacting the contractor to fix something under warranty,” Kirchner said. The nature of the few calls he has had to address are quite common of any newly constructed home and do not center on sinking homes, sliding pools or cracking foundations, he said. The Refuge gated housing community consists of 360 lots, 24 were included in the recent bank acquisition only because they still remained in the hands of Sienna Corp. at the time of the trustee sale. “The homeowner association is very healthy, they are properly funded, and the budget is in place,” Kirchner said. There is currently 145 occupied homes at the Refuge with 13 more considered under construction or not in compliance with all the HOA guidelines, Kirchner said. “I don’t consider a home complete until it is fully landscaped,” he said. The homeowners are required to pay dues of $165 per quarter in 2009, which is $55 per month, Kirchner said. The money collected by the association is used to cover management fees, printing, copying, postage, legal fees, electric costs tied to the gate, common irrigation of the grounds and common lighting of the grounds. It also pays for landscaping, compliance coordinator services and street sweeping. The association’s fiscal year runs Jan. 1 through Dec. 31, and the 2009 budget does not include shortfall of the reserve funds linked to the 24 lots included in the recent foreclosure of the golf club. The shortfall is estimated at 18 cents per lot, per month — an average of $432 monthly — that the developer was paying out of pocket on those lots. Kirchner said he does not expect the bank will foot the monthly expense; therefore, that money will not be reflected in the association’s reserve funds for the remaining months in the fiscal year. Next year’s budget will be adjusted for the shortfall and introduced Jan. 1, 2010, he said. You may contact the reporter at jhanson@havasunews.comBid rule may help keep jobs
City could remove sales tax from local project bidders
By TONY WAGGONER
Thursday, August 27, 2009 8:55 PM MST
Local bidding preference could have a positive effect on job retention and sales tax revenue in Lake Havasu City. Last Tuesday, the City Council passed an amendment to the existing ordinance allowing the city to remove the sales tax when considering bids from local bidders. City Finance Director Gayle Whittle said this means if the bottom line for a local bid were around $410,000 and the bottom line for a non-local bid were $405,000, the city could remove the sales tax from the local bid when considering awarding the contract. If the local bid were lower than the non-local bid after the removal of the sales tax, the city could consider the local bid the lower of the two bids. “In a sense, it maintains neutrality,” City Attorney Paul Lenkowsky said. According to Lenkowsky, any removal of sales tax from bid consideration must be within the city’s 2 percent sales tax code. If the 2 percent sales tax amount is removed from a local bid, but is not lower than the non-local bid, the city would have to accept the non-local bid. However, the amendment does not remove the sales tax from being paid, which in turn, could mean the city would effectively accept the higher local bid when the local sales tax is paid. Local bidder preference also pertains to the renewal of contracts. Cities have the right under the Arizona Procurement Code to adopt and modify their own local procurement codes, Lenkowsky said. Legally, he said, the city has the right to provide a local bidder preference because it still collects the sales tax from a local contract. Accepting non-local bids does not necessarily mean that sales tax revenue wouldn’t be generated, though. In the instance a contract were awarded to a non-local bidder and delivery of a product was made, the city would collect Use Tax from the delivery. Jobs are a major piece of the puzzle. Whittle said lower bidder preference would help to both create and retain more jobs in Lake Havasu City. The amendment does not include the procurement of construction contracts, but the city does have a number of contracts it would apply to, and bids from companies in Mohave County are still considered local, according to Whittle, because those sales tax dollars stay in the county. Right now the city contracts with companies for janitorial services, vehicle maintenance, electrical, tires and various office supplies, among others, Whittle said. Whittle said the city does not keep track of exactly how much money is generated by local contracts, because each city department has its own dealings. And if a bidding war ensued between local and non-local companies, Lenkowsky said it would be good for the city, because the city would pay less money for the contract. You may contact the reporter at twaggoner@havasunews.com. 8/27/2009
‘Piranha’ benefit sale scheduled for the weekend
By JAYNE HANSON
Thursday, August 27, 2009 8:55 PM MST
Tinnell Memorial Sports Park committee has organized a “Piranha 3D” Blowout Sale for Saturday and Sunday that will put the $80,000 of “Piranha 3D” movie wardrobe up for grabs.
The charity sale will be at London Bridge Convention Center, located at 1477 Queens Bay, and is scheduled 10 a.m. to 4 p.m. Saturday and 1 p.m. to 4 p.m. Sunday.
“Admission is free to the public, but a voluntary tax-deductible donation in any dollar amount will be appreciated at the door,” said committee board member Julie Sasseen. “‘Piranha 3D’ Blowout Sale is to benefit Tinnell Memorial and 100 percent of the proceeds go to the park.”
The film’s producers gave the green light for the local donation June 25, and it was later organized by production manager Kathleen Keller, according to earlier reports.
The wardrobe donation included 280 women’s bikinis, more than 400 men’s board shorts, costumes, Mardi Gras beads, hats, shoes, grass skirts and other items were handed over in at least 50 bags of clothing.
In addition to the numerous bags of clothing, there were 20 large cardboard boxes loaded with flip-flops, exotic shoes, swim caps, goggles, wigs, boas, novelty sunglasses and a whole bag of hooded sweatshirts. Another box contained crazy hats including a cowgirl hat, colorful fuzzy fedoras, a beer-mug hat, sequence hats, straw hats and a large sombrero.
Office furniture including a desk valued at $700, a half dozen office chairs, a few fax machines, book shelves as well as a crib and its bedding used offset during the film crew’s stay in town will also be available for purchase.
A few of the items such as Lake Victoria spring break T-shirts specially designed for the movie as well as items with fake blood on them will be held until the premiere of “Piranha 3D,” currently scheduled for March 2010. They will be sold on eBay with hope of generating a higher donation to benefit the park.
“There are some horror picture fans out there that might be interested in that stuff,” Sasseen said.
To date, the Tinnell committee has raised roughly $145,000 cash donations and an undetermined amount of in-kind donations by local construction contractors offering their services to help reach the park’s goal of $500,000.
Local businesses that helped make the charity sale possible are Murphy Broadcasting, Elegante Shades of Color hair salon, A&B Supply, River Rags of Havasu and London Bridge Resort.
At least seven individuals donated their time to organize the set up of the items at the convention center Thursday.
For more information about the sale call (928) 706-9253.
8/20/2009 Local Heroes Navy Seaman Recruit Chaz C. Herren, son of Joseph C. Herren of Kingman, Ariz., recently completed U.S. Navy basic training at Recruit Training Command, Great Lakes, Ill. Herren is a 2008 graduate of River Valley High School of Mohave Valley, Ariz. Navy Seaman Recruit James R. Abram, son of Lori Koenig of Lake Havasu City, Ariz. and Paul R. Abram of Lake Havasu City, Ariz., recently completed U.S. Navy basic training at Recruit Training Command, Great Lakes, Ill. Abram is a 2008 graduate of Lake Havasu City High School of Lake Havasu City, Ariz. During the eight-week U.S. Navy basic training program, recruits complete a variety of training which includes classroom study and practical instruction on naval customs, first aid, firefighting, water safety and survival, and shipboard and aircraft safety. An emphasis is also placed on physical fitness.
The capstone event of boot camp is "Battle Stations". This exercise gives recruits the skills and confidence they need to succeed in the fleet. "Battle Stations" is designed to galvanize the basic warrior attributes of sacrifice, dedication, teamwork and endurance in each recruit through the practical application of basic Navy skills and the core values of Honor, Courage and Commitment. Its distinctly ''Navy'' flavor was designed to take into account what it means to be a Sailor.
Navy Petty Officer 2nd Class Alejandro Zavala, whose wife, Amber, is the daughter of Pam and Jim Lopez of Needles, Calif., recently reported for duty at Naval Air Station, Kingsville, Texas.
 8/20/2009
The Refuge on the market
Bank-owned golf course restaurant, bar closes; holes still open By JAYNE HANSON/TODAY’S NEWS-HERALD
Tuesday, August 18, 2009 8:52 PM MST
The Refuge Golf Club faced foreclosure Aug. 6, and bank officials calling the shots chose to temporarily close the bar and restaurant amenities Monday that normally are available to players and guests of the club. The club’s pro shop and 18-hole golf course is still open to both club members and non-members.
“I decided to close the restaurant because, frankly, no one was going there,” said Marty Mixell, vice president of Security Finance Corp. The closure is considered a seasonal closure during summer months and will open at a later date, according to the club’s management. “The restaurant will be closed through over-seeding in mid-October,” said General Manager Kirby Scharmann. Two golf tournaments are still scheduled for later this month, Scharmann said. A Thursday afternoon golf league that commences weekly will also continue to meet. The foreclosure left the golf course, clubhouse, all contents related to both as well as 24 additional vacant residential lots in the hands of the Minnesota-based bank, Security Finance Corp. Mixell said the housing development includes 360 lots, and only a few were included in the trustee sale. He also explained that the trustee sale information is public record but would not disclose the dollar value of the bank’s acquisition. Mixell did say the golf clubhouse and properties are currently for sale and reported interest from parties in Canada, New Jersey, Colorado and Arizona. He would not disclose a listing price for the clubhouse or properties, but said they are currently taking offers. The sales are being handled from The Refuge at Lake Havasu real estate sales center located in Desert Hills, Mixell said. Sales center staff declined comment. A California-based company considered purchasing the grounds from the original developer, Minnesota-based Sienna Corp., during the latter part of 2007, but the transaction was put on hold to continue talks of purchasing an additional 470 acres of State Trust Land just north of Desert Hills, according to earlier reports. The Refuge is planned for 360 single-family homes and features an Arnold Palmer Signature Designed golf course. There are currently about 45 members of The Refuge, and all members have been given options to continue with membership in the given situation, Scharmann said. There are many people in town who still believe The Refuge to be a private club, but anyone is welcome to golf here, he said. For more Information Call Joanna's Team 928-505-2777
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About Appraisals >Refinancing Your Home
Interest rates fluctuate as changes occur in the general economy. If you purchased your home when interest rates were higher, you may want to consider re-financing your loan at a lower rate.
You will have to apply for the new mortgage and have your current income eligibility assessed. Depending on how long you have had your present loan, a current appraisal may be required. There are closing costs, such as attorney, title fees, recording and notary fees, and appraisal charges. The biggest factor in your decision should be the length of time you plan to remain in your home. If you will be there for only a year or two more, it might not pay to re-finance. If you will be in your home longer, re-financing could provide you with lower mortgage payments. Your real estate agent can help you work out the numbers and can refer you to reputable home appraisers and mortgage lenders.
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Where is the world's largest mud building?
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The Grand Mosque in west Africa measures 328 feet long and 131 feet wide, and has been carefully maintained for centuries by local craftsmen, especially during the rainy season. |
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