Lake Havasu City AZ is considered by many to be one of the most desirable communities to own either vacation real estate or a full time home within. Constructed originally as a military stopover, the area was identified in 1958 by Robert P. McCulloch as a potential paradise for retirees and vacationers who were seeking water activities but did not want to travel the distances to the coasts. The purchase of several thousand acres and the subsequent development of that area to include business districts, entertainment areas and residential pockets transformed Lake Havasu into an area of interest for families of retirement age. McCulloch heavily marketed to this demographic and eventually sold all of the parcels of land he had controlled.
The idea to bring tourists to an isolated area in Arizona needed some form of attraction, and McCulloch knew what to do. He purchased the actual London Bridge and transported it piece by piece for reconstruction in the city, bridging the narrow channel that separated a small island from the mainland. This project served the purpose of creating an easy transportation route to the other side of the river which would typically require a trip of over 30 miles to do, as well as bringing in a tourist attraction like no other in the state. Lake Havasu immediately went from a residential boating community to a thriving tourist destination, each year drawing thousands of visitors. Tourist-based businesses thrived and continue to do so as both the actual resident community continues to grow as well as the tourist numbers.
Property in Lake Havasu is quite desirable, due to the fact that those seeking a yearly vacation can own the property and rent it for the off-times to others who come to the city at different times of the year, or for “spring break” activities which have become incredibly popular. The area is now recognized as the most popular spring break destination in Arizona, each year drawing hundreds of thousands of college students to enjoy the river. This is quite lucrative for property owners, who can rent out their homes for many times the typical monthly rent during this period, simply due to a lack of housing and a huge demand. Others in the area seek home ownership due to the job market being robust even during recession times. Lake Havasu fared quite well over the past ten years as far as both real estate values and job creation due to the fact that the community is continually growing and needing new service positions to be filled.