Candice A Donofrio

Single Story For Sale in Holiday Highlands

Candice A Donofrio — Tue, 04 Aug 2009 23:08:00 GMT

Office/Shop Bullhead City AZ

• 2671 sq. ft., 1 bath single story "Corner Lot On 5 Point Corner" - MLS® $235,000 - EXCELLENT LOCATION

Holiday Highlands, Bullhead City - FOR SALE, FULLY OCCUPIED 3300 SF well maintained building in NICE location west of Hwy 95, corner Baseline at Ramar.

Unit A - 1771 SF +/- includes 2 offices with ADA compliant bath with drain, hot water heater, large warehouse area with built in cabinets and 2 roll up doors. Currently leased till Nov 09 @ 700/month; tenant has option for second year @ 750/month.

Unit B - 900 SF RV size shop - currently leased by son in law @ 100/month. Way below market rent. Lease is up 10-1-09

8-10 parking spaces. Fenced yard.

Property information

I'll Gladly Pay You Tuesday . . . Owner Financing

Candice A Donofrio — Sat, 25 Jul 2009 20:41:00 GMT

YMMV o' course -- but in our NW AZ market, properties are frequently offered with, among other terms, OWC which means Owner Will Carry (also called Seller Carryback, Seller Financing or Land Contract).

Owner financing can be a GREAT way to buy a property!

No loan costs! Escrow length will be lessened because there is no lender involved. The seller is your bank.
You can buy a property that a bank can't/wont finance (perhaps due to the age or type of the property-pre-HUD or singlewide mobilehomes or properties with ‘issues' like repair or permit problems or nonconforming types like a rezoned commercial area with homes)
In rapidly appreciating or declining markets where appraisal would be an issue, you can typically bypass the appraisal (but do have your agent do a CMA so you are not overpaying!)

Owner financing can be a GREAT way to sell a property!

No appraisal contingencies!
No fallthroughs or delays from comatose loan processors.
No arrogant underwriters.
Your transaction can close fast.
And YOU collect the interest!

Then again . . .

Owner financing can be a TERRIBLE way to buy a property!

Terms may be more advantageous for the seller. Owners don't carry on properties for their health (generally-investors who can afford the cost of a default and reclaiming the property might) and you can expect to pay a much higher interest rate and larger down payment than if you got conventional financing. Also, owners do not like to carry for long periods or with too-low monthly payments. They want you to be in as risky a loss position as they are in order to agree to finance you. And who can blame them?
Your payments generally do not appear on a credit report. So you will most likely not be rebuilding poor credit UNTIL you have paid off the property and/or can show that you pay timely.
There are setup and servicing fees that have increased dramatically in recent years.

Owner financing can be a TERRIBLE way to sell a property!

The risk and cost of a default rests on you. You will need to remove the squatters, reclaim the property and repair it after it's been ‘lived in'.
If you don't insist on impounds for taxes and insurance, you may end up on the hook as the property taxes are still your responsibility until it's paid off. And should that property burn to the ground and the buyer didn't pay those insurance premiums . . . OUCHIE

When selling an OWC property:

Either require a credit report or employment/income statement from your buyer.
Insist on impounds for taxes, insurance and any assessments that have been assumed.
Offer a home warranty.
Consider an ‘introductory' rate (interest only or low rate) for a short term to a buyer with a LARGE down, incentivizing buyer to refinance in X years (if the property will qualify)
Receive a significant late fee for payments not on time.
TALK TO AN ATTORNEY about the tax/legal implications of owner financing and the remedies for default. Protect yourself. Some owners have made a career of making seller-advantageous deals and reclaiming/reselling after default-over and over-keeping the interest and DPs.

But most owners just want it to go-and STAY-AWAY!

When buying an OWC property:

There are five major negotiating points:

Price - Interest rate - Down Payment - Term - Monthly Payment

Be ready and willing to compromise on at least three of those terms. You will probably not create a win-win if you ask the seller to discount by 30% with 5% down and 4% interest for 30 years!

Show evidence that you can be trusted to pay the seller! If you have good credit, pull your report or show your FICOs. At least be prepared to disclose your employment or source of income. Yes it IS the seller's business!
If the property is ‘theoretically' financeable, don't expect the seller to offer a low interest rate because if they are offering the property OWC, they WANT to earn the interest.

Personally, I love to buy with the seller as noteholder. If you offer the seller a decent down and decent monthly payments short term, you can often get a below bank interest rate and often other good terms as well.

PS. There are often occasions that owner financing is not LISTED as offered, but if you make your offer strong, research the encumberance level of the seller and ask for it . . . well, it has been known to happen . . .

Can "Old Bullhead City"AZ 86442 Come Back? You BET!

Candice A Donofrio — Sat, 25 Jul 2009 20:39:00 GMT

Old Bullhead City AZ, 86442 is the original Bullhead City, the northwest part of town located right across from the riverfront casinos on Casino Drive in Laughlin, Nevada.

Before Laughlin pioneer/casino mogul Don Laughlin built the bridge across Casino Drive/Hwy 163 to North Highway 95/68 in 1987, the ONLY way to get to Bullhead from Laughlin was:

Hwy 163/95 North to Boulder City (near Las Vegas) and around Hoover Dam to Hwy 93, then thru Kingman and Golden Valley to where Hwys 68 and 95 meet--apx drive time 2-3 hours
Casino Drive to Needles Highway South to/over the Needles CA Bridge, then North on Hwy 95 to Bullhead--apx drive time 45 - 90 min
Ferry across the River--apx drive time 0 because you would not have a car :)

As the Laughlin Bridge, followed by the Veterans Memorial Bridge (Fort Mohave/The Avi Resort) made car rides from and to Needles, Mohave Valley, Fort Mohave, Bullhead City and Laughlin convenient, "Old Bullhead" became a less desired area of town . . . for a long time. Especially when the Bullhead Parkway was built in the mid 1990s, allowing commuters and travelers to bypass MOST of Bullhead City--and development began to center further south.

When Laughlin Ranch was developed along the Bullhead Parkway during the real estate boom of 2004-2005, part of the plan was that several city blocks along the river in "Old Bullhead" that was purchased by the developers would become a lavish community marina with valet delivery and services the likes of which the area had never known.

High rise luxury condominiums went up along the River and sold for top dollar.

Then the bottom dropped out and the developer went bust. And "Old Bullhead" languished. Many of the big bucks McMansions and penthouse waterfront condos are today's auction, trustee's sale, short sale and REO resales. Great news for investors and buyers who didn't go bust after the boom!

But what of "Old Bullhead?"

Old Bullhead is coming back . . . we're getting more inquiries from people who want to take advantage of the opportunities (such as rezoned commercial areas that have residences that could be used as an office with storage) in this half a dozen blocks across from Casino Drive, separated only by the Colorado River . . .

ASK ME about GREAT DEALS on properties in this area, such as this commercial site near both Highway 95 and the River:

You And Your Big Tweetin' Mouth!

Candice A Donofrio — Sat, 25 Jul 2009 20:38:00 GMT

Oh, Lordy. I wondered when this would happen . . .

A Phoenix Twitterer announced via update that he and his family were taking off on a fabulous vacation . . . tra la la la la . . .

. . . they returned home

to find their home had been B and E'd and their possessions liberated.

We are a nation of revealers. We announce when and what we eat, who we hang out with (even when we don't KNOW who it is!), what we do and how much we pay. This is TMI!

When you update Twitter, Facebook, MySpace etc . . . do yourself a huge favor and leave the parts where you come and go for long periods of time OUT. Focus instead on what you find interesting . . .

This phenomonon has been repeating itself in a dozen states all over the country.

Good news for crooks who can Google Map and e-case you from the comfort of their PC.

BAD NEWS FOR YOU!

When the information is sensitive and can put you at risk--no matter HOW AWESOME or INTERESTING it will make you seem to others . . .

Zip it!

1355 Baseline Rd - Bullhead City 86442 Commercial Warehouse Property For Sale

Candice A Donofrio — Sat, 25 Jul 2009 20:35:00 GMT

We know, we know . . . Bullhead City has some SERIOUSLY nonconforming properties!

But not this one.

Three motorcycle/car/boating buddies decided to build three fairly identical warehouses for 'toy storage' behind one iron gated fence. Best guys you ever met. And now one of them's for sale! (the buildings, not the guys) ;)

The lots and power are all separate (Water and sewer are shared). But the properties share the security of (individual) wrought iron gates and block wall, landscaping and perhaps most important, conformity to keep the values of the properties strong.

Currently, the center building is available - 1355 Baseline Rd, Bullhead City 86442.

It, like the others, was custom built by CalNevAri Construction, one of the premiere steel building specialists in our area.

Its 2400 SF of lower floor space includes an air conditioned insulated office and warehouse space with two 16 foot roll up doors and two high efficiency evaporative coolers,

an ADA compliant bath with shower for grime removal . . .

and upstairs, a 10 x 40 mezzanine for additional storage.

Located at the prime 'elbow' of Bullhead City, this property is a block off Hwy 95 with easy access to and from. And it is a few short blocks to the Colorado River!

Exclusivelly offered at $250,000, this high quality property can be purchased with cash or conventional financing or owner may finance with a large down payment for a short term. Give me a shout if you want to make a deal on this (or another) sweet commercial property!

www.RealEstateBHC.com

www.CommercialBHC.com

www.RealEstateBHC.biz

866-228-2643

Candice A. Donofrio, Owner/Designated Broker

CCSS Certified Commercial Sales Specialist - Commercial Real Estate Institute, Phoenix

Meadview AZ 86444 Real Estate - Hualapai Valley Solar Mohave Sun Power Project

Candice A Donofrio — Sat, 25 Jul 2009 20:33:00 GMT

I've written about Meadview AZ 86444 Real Estate before . . . in 2007.

Meadview was and is a unique, special area. I have a couple of properties there. One's an upcoming project for me--a nice commercial acre on Pierce Ferry Rd--the main highway thru town.

The other's for sale.

Located in Northwestern AZ, 90 miles north of Bullhead City, Meadview is the Arizona side of mighty but periodically problematic Lake Mead, south of the Hoover Dam.

Lake Mead's water levels (periodically an issue with low rainfall), coupled with the delay in completion of the Hoover Dam Bypass have caused interest in this area to wane and property values to stall--despite the glorious views, higher elevation/cooler temperatures and convenient proximity to the Lake's South Cove and the West Rim of the Grand Canyon.

It's always been a bit difficult for out of area buyers to FIND information on this area. The few real estate offices that operate in town are usually not MLS members and unless those of us 'down the hill' list the properties, chances are you WON'T SEE THEM. That's unfortunate.

Now I don't have a crystal ball, but I PREDICT the interest in Meadview, Dolan Springs, White Hills and Golden Valley areas of Mohave County will be revitalized--and the reason can be described in two words:

Solar Power.

Yes. Here comes the Sun--a natural resource we have PLENTY OF in Northwestern Arizona!

The proposed Hualapai Valley Solar Project (HVS Project) is a 340MW concentrating solar power (CSP) plant to be situated approximately 27 miles north of Kingman on approximately 4,000 acres of private land, using a proven technology that has been operational in the United States since the 1980's.

The HVS Project will use CSP technology to capture heat generated by sunlight and turn that heat into electricity. It will store excess heat using molten salts so that it can provide electricity when it is most needed during on-peak hours. And it will use 'gray (effluent) water' which we have in abundance too.

I've heard that 1.7 million mirrors will capture and generate the power. Pretty cool--ahem, pretty hot! :)

The HVS Project is in the early design and permitting stages, with a construction start anticipated in November 2010 and start of operations in June 2013. HVS is working with Fichtner Solar of Germany, the leading worldwide designer of concentrating solar trough projects, to design the project.

As of late July, 2009, the preliminary design of the project has been completed.

Meetings with the public, stakeholders, county officials, state permitting agencies, and federal permitting agencies have been taking place since Summer. And more meetings will be under way for those who wish to weigh in or get concerns addressed:

Planning & Zoning Commission Meeting (anticipated)
County Offices
09.09.09 | 10:00 AM

Board of Supervisors Meeting (anticipated)
County Offices
11.02.09 | 9:30 AM

This project will mean:

An alternative energy source for us Northwestern 'Zonians AND outerlying states! And if you've spent a Summer here, you know we can use THAT.

Jobs and a boost to the local economy. The 1500 temporary and 100 permanent workers will need to eat, buy or rent homes and more!
Tax revenues for Mohave County.

And . . . here comes the great news!

Since the project will be located just north of Chloride, AZ . . . the closest 'decent sized' communities are Dolan Springs/Meadview and Golden Valley, AZ . . . the two areas whose real estate values inflated, then deflated the most as the Bypass project hit delays . . .

Property values may crank back up again!

If you have a property for sale in Meadview, keep your eye on the market there very closely. I bet we will see some increase in interest as the word gets out about this project.

And if you are interested in buying in the area . . . the coming 1-3 years may see some progress in values as these two big projects--the Bypass and the Solar Project--grow legs . . .

You can go to Hualapai Valley Solar and check out the info on the project.

Or for more information . . . give me a holler and I'll share my resources.

www.RealEstateBHC.com

www.CommercialBHC.com

www.RealEstateBHC.biz

866-228-2643

Candice A. Donofrio, Owner/Designated Broker

Lot / Land For Sale in Fort Mohave

Candice A Donofrio — Sat, 30 May 2009 06:00:00 GMT

First Time Offered in 10 Years!

• lot / land - $249,800 - 157 Feet On Highway 95

Fort Mohave, Mohave County - FIRST AVAILABILITY since 1999! 157 feet of highway frontage on Highway 95! .49 acres comprised of side by side parcels that can be purchased together or separately. Short distance from the new state of the art Valley View Medical Center and the ideal location to construct a new medical building, stores or services. Alley access on west end of lot; frontage road along front. Parcel addresses are 5606 and 5611 S. Highway 95. Near Desert Lakes, Los Lagos and the Colorado River! Fort Mohave has been one of the fastest growing areas in Mohave County because of its convenient proximity to Bullhead City, Needles, CA, Lake Havasu City and the Laughlin NV casinos. It just doesn't get better than this!

Property information