The Appeal of Fort Mohave
Fort Mohave is a desirable community in Arizona, ideal for families and retirees who want to settle in a tight-knit community along the scenic Colorado River.
It has a small-town charm, where life is slower, yet it is accessible to amenities like the outdoors, establishments, and medical centers.
The low cost of living makes the neighborhood more appealing to homebuyers. Although home prices are rising in Arizona, a large percentage of Fort Mohave real estate is still considered affordable while settled in a quaint environment and strategic location.
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One of Fort Mohave’s charms is its location in the tri-state area, where Arizona meets Nevada and California.
Fort Mohave residents have easy access to gambling and the nightlife of Laughlin, Nevada, just across the river, and a nearby attraction for weekend getaways is just a drive away in Las Vegas, Nevada.
But, residents can stay in the neighborhood to enjoy amenities and fun, as Fort Mohave is near recreational activities, especially the outdoors. The Colorado River is for fishing, boating, and other water activities. Trails and nature exploration are also nearby.
Understanding The Local Market
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As of March 2024, the Fort Mohave, AZ, real estate market is a seller’s market. This means that many people are looking to buy homes, so the inventory and competition are low.
In March 2024, houses in Fort Mohave were for sale for an average of about 30 days, which was 60.3% less time than the month before.
According to realtor.com, the median list price of homes in the market in March 2024 is $399,000, which increased by 10.9% over the past years. These homes for sale in Fort Mohave range from $35,000 to $799,900, depending on the type of home, location, and amenities it offers.
Types of Properties Available
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The Fort Mohave, AZ, real estate market offers various homes for sale, catering to buyers’ needs and preferences. Below are the types of properties you can expect to find if you enter the Fort Mohave real estate market.
Single-Family Homes
These are the most prevalent types of property in Fort Mohave. They range from cozy small homes to spacious family residences, often featuring multiple bedrooms, bathrooms, and yard space with a beautiful desert backdrop.
Multi-family Homes
From duplexes and triplexes to apartments, multi-family homes provide both homes for prospective buyers and opportunities for those who want rental income.
Condominiums and Townhomes
Condos or townhomes are ideal for those looking for a more affordable home than buying one. One of their pros is the low-maintenance lifestyle, as they have shared amenities and often come with monthly maintenance taken care of by the HOA. You will also usually find these properties near or within walking distance of entertainment and business districts.
Mobile Homes
Manufactured homes are popular in Fort Mohave because they are affordable and flexible in relocation if desired. They are also built to a high standard, as they are built in controlled environments. Because they are manufactured in such conditions, problems like bad weather or difficulty getting workers scheduled to work on them are less likely to happen. Many mobile home communities also offer pools, clubhouses, and recreational facilities.
Lots
Fort Mohave real estate also has vacant land and lots for sale, whether for building a custom home, investing, or agricultural use.
Buying Property in Fort Mohave
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Buying Property in Fort Mohave
Buying a home is a complex process that requires a strategic approach, especially for investment. As buyers, you should understand the things below to navigate Fort Mohave real estate confidently.
List Your Requirements and Narrow Down the Choices
Before looking for homes in Fort Mohave, define your goals, requirements, and preferences, such as the location, type of house, size, amenities, and budgetary constraints. This will streamline your search and narrow down the choices available in the market.
Research Fort Mohave's Communities and Subdivisions
Fort Mohave has different communities and subdivisions, each offering distinct charm and amenities. Do thorough research to determine whether the community is near schools, establishments, health centers, and amenities. You can also research the atmosphere of the community to see if it aligns with your lifestyle preference.
Use Online Resources
Many websites offer viewing and exploring available homes in Fort Mohave. You can check the descriptions and amenities of the properties to find the home you want. You can also visit River Rats Realty’s user-friendly platform to browse homes for sale in the area.
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Having a realtor by your side when buying a home is beneficial, as they offer unparalleled expertise and personalized guidance throughout your house-hunting journey. They will also help you with the complexities from searching to closing costs.
Prepare Your Finances
Obtaining pre-approval for a mortgage is crucial before entering the market. Knowing your financial situation well gives you confidence when making an offer.
Make Offers and Negotiate
Work with your agent to make an offer when you find a community and home that matches your goals and preferences. These negotiations will require someone skilled at negotiation, so it’s crucial to have an experienced negotiator with you, like your realtor.
Inspect the Home
Before purchasing, you must conduct a home inspection to determine whether the property meets your requirements and whether any significant problems need to be repaired. To help you save money, you can negotiate with the seller to cover the cost of repairs.
Prepare for Closing Cost
The process does not end with paying the cost of homes; there’s a lot to the buying process. Before getting the key, you must pay the closing cost to say you have already closed the deal. Work closely with your chosen realtor to finalize the paperwork and payments to ensure a smooth and efficient closing process.
Selling Property in Fort Mohave
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Selling a home can be tricky and challenging, especially if it’s your first time. The best way to sell your home quickly and above the listing price is to work with a real estate agent.
But you must also know some necessary steps to maximize your sale price, reduce the time your home stays on the market, and prepare for closing costs.
Prepare the Home by Cleaning and Doing Repairs
One of the many sellers’ mistakes is staging their home without cleaning it and fixing areas that need repairs. So the first thing you must do is do a deep cleaning from the inside to the outside of the house.
Make sure to check if any repairs and replacements are needed on the roof, the paintings, heating, cooling, plumbing, and electrical, as these can affect buyers to get financing on a home. Lastly, try to improve your home’s curb appeal if needed. Remember, first impressions are important to buyers.
Furthermore, once your home is on the market, please keep it in good condition because you never know when a potential buyer may want to see it.
Price Your Home Reasonably
Pricing the home too high initially can cost you a lot of money. Potential buyers may overlook it because it is out of their budget.
When pricing a home, many factors must be considered, such as the square footage, number of bedrooms and bathrooms, prices of comparable homes, and the value provided by amenities like walk-in closets and high-end appliances.
Having a realtor is beneficial as it helps you determine the best pricing strategy for the current market and season.
A realtor will guide and help you determine current market trends by looking at the past few months and checking the houses currently for sale and those about to be sold to plan your pricing.
Are houses taking more time to sell? Or are they selling quicker than before? That’s why having an expert is crucial to ensure you get the price right off the bat, gain the attention of potential buyers, sell the home faster, and don’t lose money.
Choose How You Will List Your Home
Several options exist for selling a home in Fort Mohave. The time it takes and the amount you receive will differ.
- List Your Property on the MLS for a Flat Fee: Some companies will quickly list your home on the MLS, usually within 24 to 48 hours. This is your best chance to get a reasonable price for your house.
- Work Alongside With a Discount Real Estate Broker: The top discount real estate brokers in Fort Mohave provide the same services as standard realtors but at reduced rates. They usually charge 1.5% to 3% to list your home.
- List With a Full-Service Realtor: A full-service agent may charge you nearly 5% to 6% of the closing cost.
- Sell to an iBuyer or Cash Buyer: A cash buyer can offer instant cash and help you sell your house quickly in Fort Mohave. iBuyers have strict rules but can provide some money up to 80% of the Fair Market Value.
Staging the home makes sellers earn up to $40,000 more than what it’s listed for. Also, having good pictures can get potential buyers’ attention and make your home sell faster. So, if you have a budget, hire someone to take photos to showcase your home’s best features.
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Complete your Listing Paperwork
The paperwork mainly consists of the listing agreement and the seller’s disclosure. The seller and the local MLS agent will sign a listing agreement. It will allow the seller to list their property on Fort Mohave’s MLS. The seller’s disclosure is a standard checklist form that enables sellers to disclose material defects and property features that may negatively affect the house’s value.
In addition to these documents, you must prepare the deed or property title, property tax bill, mortgage statement, property survey, original sales contract, past utility bills, receipts for improvements and repairs, appraisal report, contingency removal form, HOA documents, closing disclosure, and settlement statement.
Review and Negotiate Offers
When your home is listed, offers will start coming. Thus, the next step you must take is to compare the offers. Most people selling houses usually pick the highest offer. But there are other things sellers should consider before deciding:
- Is the buyer paying with cash or getting a loan?
- If they’re getting a loan, did they already apply for it and get approved?
- Are they okay with skipping steps, like checking how much the house is worth?
- Are they willing to discuss who pays for closing costs?
Close the Deal
Once you accept the offer, the next step is to close the deal, which real estate agents usually do for a successful closing.
In this step, you must pay the transfer and property taxes included in your closing costs. You must also sign some documents to close the sale, such as escrow, title documents, deed, and closing disclosure.
After paying the closing cost and signing documents, the new homeowner’s name is written down in public records. The buyer writes a check or sends money for the home’s price, and congratulations! You have successfully sold your house!
Conclusion
Fort Mohave offers relatively affordable housing combined with a competitive real estate market, particularly on the sellers’ side, making it an attractive opportunity for investors seeking high offers on their properties.
But the vital thing to remember is navigating Fort Mohave real estate can be complicated, so understanding the market is crucial to finding a home that meets your financial situation and goals.
Finding a reputable real estate agent in Fort Mohave can be very helpful for navigating the market successfully.
If you have questions about Fort Mohave or need assistance buying or selling a home in Arizona’s sunny and quaint neighborhood, please do not hesitate to contact me or my team.
You may reach us by calling 714-514-1176 or via Lee@CravensRealtyGroup.com. We will be glad to help you and provide you with the necessary information to answer your inquiries. Let’s make your dream a reality in Fort Mohave!
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Frequently Asked Questions
What are the average home prices in Fort Mohave?
As of March 2024, the average home price in Fort Mohave is $399,000.
What are the benefits of investing in Fort Mohave real estate?
Fort Mohave real estate is relatively affordable, yet the market is very competitive, especially on the sellers’ side. With many buyers on the market, sellers can expect a high offer.
What should first-time homebuyers know about the Fort Mohave market?
First-time homebuyers should know the cost of living in the neighborhood and how it affects housing costs. Since the area has a low cost of living, you can find affordable homes compared to other places in Arizona, like Phoenix.
The second thing buyers should know is the market condition and if the market is competitive to be ready to find their ideal home.
How do I find a reputable real estate agent in Fort Mohave?
There are several ways to find a reputable real estate agent in Fort Mohave. If you know someone in the area, like your family, friends, or coworkers, ask them to recommend a reliable realtor they have worked with.
You may also attend open houses to meet realtors, get their contact details, and visit their physical offices. You may also browse online, like Google, find a realtor, check their website, and read reviews about them by their previous clients.