Monday, November 29, 2010

Luxury Real Estate The New Bargain?


As the Real Estate market continues to move through the massive changes in the marketplace different bright spots come and go almost like meteors passing across the


night sky. Certain types of properties, certain price ranges will be hot for a few months and then fade.  Some of that is dictated by prevailing loan programs and seller incentives.


In my market place, just a few months ago, any property priced under $150,000, would immediately receive multiple all cash offers.  In that price range at least it seemed like the heady  days of 2005-2006. Bidding wars and buyers falling out of trees.  That has quietly faded probably because many buyers have spent their cash and also the inventory in this price category is drastically reduced from what it was. Investors who bought most of these seem to be rehabbing them and entering them into the rental pool - which is quite competitive in its' own right.

Currently the best deals are starting to be seen in the higher end up to and including the luxury homes.  There are some truly stunning deals out there.  Some of the homes have been reduced as much as 50%.  While you may not be in the market for a luxury property the near luxury properties in the $700, 000- one million dollar range are also seeing dramatic price reductions.

The Banks have been slow to foreclose on these larger properties but there are foreclosures and more coming.  Most industry insiders are reporting that the next two years will see a much larger percentage of luxury real estate and commercial real estate  go on the market at very competitive prices. The number of lower priced homes will slow and the inventory start to dwindle.  In my market place we are seeing the under $250,000 homes actually go up slightly in value.

You can look at some of the great luxury values in the Palm Springs are by using this link.

Thursday, November 25, 2010

Mission Inn Festival Of Lights



The 18TH Annual FESTIVAL OF LIGHTS - at the Historic Mission Inn in Riverside - begins today Friday, November  26 at sunset and continues through Sunday, January 2, 2011.

This is a not to be missed event that will put anyone in the Christmas spirit.  The Mission Inn occuppies and entire block right off of the 91 Highway in downtown Riverside.  The whole exterior of the property is draped in lights and moving figurines and characters.  It is sure to delight people of all ages.

If you make reservations the dining rooms, especially the outdoor patio, serve memorable meals.

See more about the Mission Inn

Video Of the Lights:





Wednesday, November 24, 2010

Happy Thanksgiving

HAPPY


Thanksgiving


To You and


Yours!

Tuesday, November 23, 2010

Wildlights at The Living Desert In Palm Desert

A Holiday Tradition Returns to the Living Desert in Palm Desert   


Tonight is the first night of the Festival of lights held each year at the Living Desert in Palm Desert CA.

The grounds of this unique park (part zoo, part botanical garden) are covered in lights and decorations. Open from 6pm- 9pm you can enjoy the cool Desert Evenings and get yourself in the holiday spirit by seeing the beautiful lights. Don't forget all those healthy benefits from a nice walk!

More information can be had on the Living Deserts' website

Directions to the Living Desert can be found here.

Enjoy this holiday tradition in the Desert!

The cool evenings of the Desert winter are complimented by the warm sunny days typically  in the seventies. While the rest of the nation shivers during November, January and February the residents of the Coachella valley get to enjoy everything under the sun. See how the Desert gets in the holiday spirit despite the lack of snow or truly cold temperatures.

To learn more about Palm Desert and its' great neighborhoods visit our web page

Wildlights Holiday Festival at The Living Desert Starts Tonight!

Tonight is the first night of the Festival of lights held each year at the Living Desert in Palm Desert CA.

The grounds of this unique park (part zoo, part botanical garden) are covered in lights and decorations. Open from 6pm- 9pm you can enjoy the cool Desert Evenings and get yourself in the holiday spirit by taking in the beautiful lights. Not to mention all those healthy benefits from a nice walk!

More information can be had on the Living Deserts' website

Directions to the Living Desert can be found here.

Enjoy this holiday tradition in the Desert!

Thursday, November 18, 2010

Treasury Department Issues Statement

Yesterday, November 18th, the Treasury Department issued a statement about the measures the government is taking to help home owners in distress. It is interesting to read for two reasons. One if you are in a modification program you can compare what you are being told and what the governments stated objective is for that program. Two, if you are wondering what options are really out there and confused by the media coverage it is spelled out pretty clearly in this speech.

To see the whole statement visit my page about it on this blog or use this link Treasury Department Statement.

Sunday, November 14, 2010

This Month In Real Estate





Housing Market Affected By Things Other Than Foreclosures



With all of the focus on the foreclosure and short sale market most people assume that the main reason for excess home inventory people losing their homes.

While this of course contributes to the problem recent statistics released by the Census bureau show another trend.  There has been a significant drop in the number of new households that are being created.  The study showed that during the five year period of 2002- 2007 almost 1.3 million new households were being formed each year.  Starting in 2008 the number dropped to just under 400,000 and decreased even more in 2009 to just over 350,000.  That is an astounding drop of 900,000 fewer households started.

In tough economic times people tend to downsize, move in together, delay home purchases and younger people will stay at home longer. In the worst case scenario of course some poeple actually become homeless.  Other factors contributing to the downward trend is a reduction in immigration and marriage rates.  In fact some studies cite immigrants that have actually moved back out of the United States.

These are interesting statistics and show a much broader cause and effect cycle to the housing situation.  As always real estate is local and in the Palm Springs market we are not seeing an oversupply of homes. Our inventory is at a two year low and sales remain very respectable. Further, as so much of the market here is second and vacation home based our numbers and statistics won't line up with more year round markets.

You can see all homes and condos currently available here. If you would like a custom created property search just let us know.

Friday, November 12, 2010

Open House On 2465 Madrona Today Noon to 4pm

Come see this beautiful condo remodel in Canyon Estates. Boasting amazing amenities and terrific views living in Canyon Estates is truly special and uniquely Palm Springs. With all the country club amenities you could want - Clubhouse, tennis, pool, spa, fitness there is even a 9 hole golf course.

Spread nicely around lush green belts with great views - the home features large rooms with loads of closets and a giant patio. Enjoy your place in the sun at Canyon Estates this season.

Thursday, November 11, 2010

Rancho Mirage Art Affaire Nov 13-14

Fine Art...Fine Music...Fine Wine...Fine Food


This spectacular two-day event is a juried fine art and jazz festival featuring 100 award-winning visual artists in a variety of artistic mediums, including painting, sculpture, ceramics, jewelry and other artistic originals. The best of Smooth Jazz music will be presented on stage on both days, this year featuring the artists:  Steve Oliver and Eric Darius

Event Details


The Art Affaire is presented FREE by the City of Rancho Mirage Parks and Recreation Commission. Whitewater Park is located at 71-560 San Jacinto Drive in Rancho Mirage. For more information call City Hall at (760) 324-4511.


Wednesday, November 10, 2010

Veterans Day Parade Today Palm Springs

Annual event begins at 3:30 p.m with a Parade down Palm Canyon Drive in Palm Springs. The event pays tribute to all those who have served our country in the Armed Forces.  Immediately following the parade is a post-parade concert and fireworks display at the intersection of Amado and Palm Canyon.

Due to the closure of Palm Canyon traffic will be diverted for this event.  Also be sure to note that Street Fair which is normally on Thursday nights will not be held this week but will return next week.

Tuesday, November 9, 2010

Via Firenze Cathedral City CA Now Just $220,000



This former Model home is perfectly situated in the neighborhood of Campanile in Cathedral City.  With many upgrades, 4 Bedrooms and 3 baths plus a Spa in the private walled yard.

Designed to look like and Italian village the neighborhood boasts many walking areas, Bell towers and landscaped park area with fountains.  A community pool and recreation area includes a nice exercise facility.  Selected the photo to see a virtual tour of the property.


See all homes for sale in the Palm Springs area of Southern California here

 Palm Springs CA Homes For Sale

Monday, November 8, 2010

October Sales Stats For The Valley

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Market statistics are in for October and they show that the numbers of homes that were sold in October (433) dipped somewhat from the previous months. The number of properties going into escrow (under contract) in October 2010 increased to 738.

Market activity continues to be strong most importantly the total number of homes listed for sale continues to drop.  Currently a new two year low has been set with fewer than 5,000 homes on the market in the entire Coachella Valley.

See more information Sales statistics for the Palm Springs area.

 

 

Palm Desert Sales Statistics

Palm Springs Sales Statistics

Search For Homes anywhere in the Coachella Valley here:

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Friday, November 5, 2010

New Listing Palm Springs Modern Style

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15880 Paintbrush Trail in Desert Hot Springs Was built in 2005.  With 3 Bedrooms 2.5 baths and a Saltwater pool and Spa it has everything you need to enjoy the Desert Lifestyle. Offered at $144,900

See All Homes For Sale In Palm Springs California

 

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