| The weather in Lake Havasu makes it | | | | million. |
| perfect for luxury real estate | | | | On the other hand, the price of golf |
| properties. In most months, temperature | | | | course lots started at $129,080 in 2003. |
| ranges from 60-120 degrees during | | | | In 2004, that price increased by more |
| daytime and 40-50 degrees during night. | | | | than $20,000. For the past year, the |
| In 1997, when the population of Lake | | | | prices of such real estate properties |
| Havasu City in Arizona was at 40,000, | | | | reached its peak after the second |
| the luxury real estate industry there | | | | quarter when it grew to $230,000. |
| reached a total of 40 establishments and | | | | Today, the real estate market has become |
| a total of 85 employees. | | | | a buyer's market. This was caused by the |
| Annual payrolls of these employees | | | | increase in the number of properties for |
| reached as much as $1,288 each. Real | | | | sale. Builders are now pressured to come |
| estate lessors, on the other hand, | | | | up with better products. Lake Havasu has |
| reached a total of 16 establishments | | | | attracted more luxury real estate |
| with 22 employees. | | | | investors. |
| Prices of houses located on golf courses | | | | Luxury estate investors usually work |
| in Lake Havasu have steadily increased. | | | | with real estate agents to find the best |
| In 2003, houses were sold for around | | | | properties for sale. Agents help them |
| $300,000. A year after, the price | | | | find the best builders. The whole |
| increased by as much as 24%. Last year, | | | | process can last from seven months to |
| the prices rose some more. In the first | | | | one year. Part of the guarantee of most |
| quarter of 2005, the asking price was | | | | agents is that the price of the buyer?s |
| $440,000. Two quarters after, it reached | | | | investments will steadily increase in |
| $470,000. The latest records show that | | | | years to come. They can, indeed, rake in |
| the price of houses located along golf | | | | a lot of money in a few years. |
| courses has ballooned to almost half a | | | | |