Tuesday, January 31, 2012

Tour de Palm Springs - Feb 10-11 2012

Money For Local Charities in Palm Springs

Cycling to make a difference is what the Tour de Palm Springs is all about. The event was designed to raise money for non-profit organizations in the Coachella Valley. With a goal of raising $200,000 for local charities in 2012 the event is not only fun but very helpful to the community.

So get out and enjoy Palm Springs' famous weather, gorgeous mountain scenery, thousands of bike riders, and help raising money for charity. There are rides from 5 miles in length all the way up to the 100 mile ride. Anyone can participate and more information can be found on the website for Tour de Palm Springs.

Wednesday, January 18, 2012

Southwest Arts Festival Jan 27-29, 2012

The Empire Polo Grounds in Indio CA will once again host the Southwest Arts Festival now in its' 26th year. This international art show draws 250 plus artists and features everytype of medium. From Posters and pottery to art glass and sculptures. Admission is charged but there are package and three day passes available. See the Southwest Arts Festival site for more information.

This event is sponsored by the Indio Chamber of Commerce

Monday, January 9, 2012

Humana Challenges Replaces Bob Hope Classic for 2012 Forward

  The 52 year old tournament - part of the PGA Tour - has a new name - new corporate sponsor and a relationship with the Clinton Foundation. The new name and format is coupled with a new focus on health and wellness.

  This years event will run from January 16-22nd 2012 and as usual will benefit Desert Classic Charities. To Honor the dedication and legacy of Bob Hope there will be a newly created Bob Hope Trophy. Over the lifetime of the Tournament more than $50 Million dollars has been raised with a large percentage of that going to fund Eisenhower Hospital.

The Tournament will return to PGA West in La Quinta and the La Quinta Country Club course but drop the use of the Silver Rock Resort Course.  Other changes include a reduction to a four day tournament, and one of the 4 rounds being Pro only. An estimated 144 professional golfers will participate in the event.

This exciting national Golf event will once again bring all eyes on the Desert and our enviable lifestyle and beautiful surroundings. Don't miss it.

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Friday, January 6, 2012

2011 Final Sales Numbers IN!

  2011 Sales Statistics

       For The Coachella ValleyArea

9706 total unit sales  Homes/Condos

The year that just ended was a very busy year for Real Estate.  While Short sales and foreclosures made up close to 50% of the market there were still many traditional sales taking place

Counting the Cities from Palm Springs to Mecca we saw 7,338 single family homes sell in 2011.  Almost  a quater of those - 24.05% - sold in 30 days or less.  Another 34.98% - took between 30 and 90 days to sell.

The median sales price for single family homes was $190,750.  Not surprisingly the homes that sold in 30 days or less achieved 97% of their asking price, however the bigger surprise may be that homes on the market for 120 days or more still achieved 92% of their asking prices.

To contrast these numbers with 2010  the percentage of list price achieved went up year over year - in 2010 it was only 93%, so 4% beter in 2011.  The total number of homes sold was down but only by  25 units however, the median sales price was down 15K over 2010 when it was $205,000.

Looking at  Condo sales in 2011:  We saw 2368 total units sell The median price for those was $173,750. Asking price vs. actual sales price percentages were in a tight range between 92% and 94%. The most telling thing in this category was the days on market - or time it took to sell a condo. Almost half 48.3% of the units took over 120 days to sell. Buyer resistance to homeowners fees and more difficulty qualifying for a loan were the primary culprits here.

There were 5 homes sold in 2011 over 5 million dollars in the valley. One at the Hideaway one at Bighorn in Palm Desert and 2 at the Vintage.  The winner for top sales price was a 7.6 million dollar estate in The Madison.

See Luxury Properties In The Desert

With the vastly reduced inventory (only 4858 homes and condos valley wide) 2012 promises to be a very competitive year for home buyers in the Coachella Valley especially in the more popular price points.  Most well priced properties are once again seeing multiple offer situations.

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