Ultimate Upgraded Palm Springs Area Home

WOW! This is what happens when you take a great house and move it to the next level! This 3 bed 3.5 bath home simply has it all. Just one year old and every detail has been attended to. No expense was spared in upgrading his property. The result is perfection in the Desert.

Everyone will tell you that Desert living means outdoor living! A Custom outdoor living space with pool/spa and perfect landscape - every inch of of the yard has been tailored to the house. The covered portion of the patio has a special remote controlled sun shade and a ceiling fan. The pool has pebble tech finish.

Inside you'll find the quartz counter tops -high quality window coverings, special lighting, ceiling fans, fireplace surround, closets organizers even the Audio visual package (included) is customized to fit this home. Enjoy this one year old plan 3 home on land you own with views you just can't get anywhere else regardless of price. The laundry room with sink and extra storage, Golf cart garage, tankless water heater and huge walk in closets in every bedroom. Water conditioner/ purification system included in sale. Current owner planned to stay a long time so no expense was spared. In fact you will find over $110,000 in spectacular upgrades to this home. The Arroyos neighborhood within Desert Princess features new homes with an innovative series of greenbelts, walking trails and all the

amenities of a great country club. You can't think of anything they don't have. From fitness center and electric car charging to an onsite recycling center. Why wait.... you can have it all right here. Michael Layton 760-408-5300 CABRE#01342880

Sunrise Villas Palm Springs CA Remodeled

Total Remodel Sunrise Villas

NOW SOLD Over asking Price!

Overview Maps Photos Features Description Neighborhood Market Stats

$329,900 (In escrow accepting backups) Condominium Main Features 2 Bedrooms 2 Full Bathrooms 1 Unit Interior: 1,391 sqft Lot: 1,742 sqft Year Built: 1972 MLS #: 217020418 Location 1919 Grand Bahama Dr East Palm Springs, CA 92264 USA

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Michael Layton CABRE#01342880 Big Block Realty (760) 408-5300 [email protected] http://www.PSagent.com        Listed by: Big Block Realty

Our recent listings Total Remodel Sunrise Villas Large 3/3 Condo With Garage South Palm Springs' Cutest Home Riviera Gardens Large One Bedroom Spectacular Shadow Hills Golf Course Home Subscribe to our listing feed

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Palm Desert CA Homes For Sale

Numbers Tell The Story Or Do They?

With a total of 247 homes for sale in Palm Desert California right now in  Mid August of 2014 - It 132 total homes for sale.  Still Sounds pretty good!

does not appear on the surface as if there is any kind of shortage.  However, if you look closer and tighten the search by size you will soon discover that in the 3 bed 2 bath single family home category there are

Finding The Bargains:

Now if you tighten the pricing and keep it under $300,000 you'll find just 28 homes for sale in this category.  Yes it is true. Just 28 homes!  Keep in mind that the average list price for a three bedroom in Palm Desert is currently $590,374. So finding a property in good condition for almost half price is a Bargain to be sure!

 Search All Homes For Sale In Palm Desert        Learn More About Palm Desert

Palm Springs Market Statistics 2014

Short sales and Foreclosures Drop - Equity Sales Increase

PRICES RISE year over year in the Coachella Valley

Market statistics for May 2014 have been compiled and published.  It shows some interesting facts and a decided change in the Real Estate market in Palm Springs. If displayed on a graph it would also show a steady line up. The trends we are about to discuss below have been steadily developing this entire year, with no retreat.

• First, the number of homes being sold as foreclosures or short sales has taken another big drop. This category is down 50% from May 2013 when 18% of homes were in this category.


• Secondly, the number of available homes is rising with about 90 more condos and 90 more homes on average – available each month. This is a wake- up call for sellers because the number of homes selling is dropping in each category and each city.


• Third and most important however is the marked increase in price. The median sales price for single family homes is now $455,100 whereas in 2013 it was $368,100 and for condos the median price is now at $232,222 VS. the 2013 figure of $182,000.

With these type numbers Pam Springs and the Coachella Valley are outpacing the Riverside County wide statistics, where a higher percentage of homes are still in foreclosure or short sale and the median price  remains over $100,000 less than Pam Springs.

Obviously, the number of properties selling will drop as prices rise.  The prices will rise as the supply of foreclosed and short sale homes drops.  Notwithstanding that obvious equation - there is no doubt that the market in Palm Springs has returned to a more stabilized mode.

See More Information about the Palm Springs Market Area

Palm Springs 14.5 Million Dollar Celebrity Home For Sale

Suzanne Somers home in Palm Springs California is for sale.  No strange to Celebrity Palm Springs has been home  stars of the stage and screen many times over the years.  Stars like Frank Sinatra, Dinah Shore, Lucille Ball, Barry Manilow, Johnny Mathis, Jerry Herman, Leonardo Dicaprio, Carol Burnett, Liberace, Jane Wyman, Kay Ballard, Rita Rudner and even Monty Hall have all had homes here in the Palm Springs area.

While this property, in the Mesa neighborhood,  has been for sale for a few years now this is the first glimpse most people have had of the unusual setting the home has.

Find your Palm Springs Estate at PSagent.com

Call Michael at 760-408-5300 or Marcia at 760-861-5643 for assistance.

Interest Rates Lower Than Ever

[caption id="attachment_2256" align="aligncenter" width="170"] History Of Interest Rates[/caption]

With Shopping for good deals being the focus of the day I thought it was pertinent to bring up our historic low interest rates. Sure we have heard for some time now that interest rates are low, however, It is one thing to hear it but to see this chart it really brings it home.

The best way to take advantage of these great rates is to be pre-qualified with a a good lender. If you need a recommendation don't hesitate to call us at 760-408-5300 or visit our home loan page on our web site.

Home Owner Property Tax Exemption For CA

California property owners are entitled to claim a property tax exemption of $7,000.  Have you filed for yours?  It must be your primary residence and you must have owned it on January 1st in the year in which you filed. However, if you meet those two criteria you should be able to qualify.

Please download this property tax exemption document for homeowners to gain more information.

WARNING:  please be aware that there are some unscrupulous companies out there that may mail you very official looking forms that make it appear as though you have to pay them to file for this exemption.  This is just a scam so don't fall for it.  Filing for your homeowner property is free and easy to do.

If you have any questions about owning real estate in California please don't hesitate to call on us.  We will be happy to help you or point you in the right direction.

760-408-5300 or Michael@psagent.com

Also, be sure to visit our website at www.PSagent.com

More Homeowner Information

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Should I Bring My Friends and Family With Me to look At Real Estate?

  

Buying a new place is a very exciting time in every ones life. In fact,  if you are not excited please check your pulse! You want to ask a million questions, you want to see as many places as possible and you want to share it with your friends and family.


On the surface getting in the car and going through a bunch of houses seems pretty simple and straight forward.  The truth is that looking at Real Estate takes concentration. It is a big decision that will impact your life for many years to come. It is crucial that you think about the elements of the purchase that are most important to you. Your “must have” list and your “do not want” lists are just the starting point. Once you are looking at properties that closely match your needs and wants is when you must pay the most attention.

There are a hundred little things that can make a big difference in the quality of life you will enjoy once you make a place yours. Where does the sun come up? Is the neighborhood a quiet one? How will you live in the house? Is the laundry close to the bedrooms? Is the kitchen too big or too small for your cooking needs? Does the master closet seem cramped?

While friends and family may have the best intention are they really going to know the exact requirements you have? More to the point are they going to be a help or a distraction? It is unlikely that they will have the same taste as you. It is equally unlikely that the things that are important to you will be the same things that seem important to them.

Over the years I have seen one or two “tag along” people who were incredibly dedicated, invested and helpful in the process. These were the exceptions to be sure. More often than not I have seen them hinder the process and cause you – the buyer- to miss the finer points of a property. Your Realtor, needs your attention to both convey what is important about the property and to hear your feedback. Extra people are rarely helpful in that process.

The best suggestion is to do your selection alone and then once the decision is made make a trip back to the property to show friends and family why this is the perfect property for you. Then you can share your wonderful new place without worrying about distractions that might keep you from spotting the perfect place.

Search For Your Palm Springs Area Home Here

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.

Search For Homes In The Palm Springs Area

Search For Condos In The Palm Springs Area

This Month In Real Estate

Help For California Home Owners

[youtube http://www.youtube.com/watch?v=dg4y96bz9yI?rel=0&w=560&h=315]

This site offers clear programs that can help some California home owners stay in their homes or ease the transition of getting out of it.

Well worth a look and

PLEASE NOTE

this is a totally free service. If you are asked for money or payment you have gone to the wrong site. Recheck the link. As always if you have questions give us a call at 760-408-5300. We will help you for free as well!

The main website this video came from:

http://www.keepyourhomecalifornia.org

This Month In Real Estate October 2011

[youtube http://www.youtube.com/watch?v=hmkm_tN7Zq0&version=3&hl=en_US&rel=0]

Canadian Citizens- US Loans For You Available Again!

Good news for Canadian buyers of US real estate. Our good friends at Pacific Premier bank are once again able to offer home loans for 2nd home purchases in the USA.

Download the flyer

The details of this offer are as follows:

5 year fixed at 4.65% with no points to be paid. Adjustable yearly after that.
There is also a 7 year fixed option at 4.875% with no points to paid.

Downpayment requirements:

35% down payment for Single family homes
45% down payment for Condos

For more information please call Leah Verigan at Pacific Premier Bank
760-969-4557 or  LVerigan@ppbi.com

What is A QRM?

It is a Qualified Residential Mortgage and is a proposal put forth by federal regulators to try and make sure that lenders cannot make risky loans just for a quick profit. Protecting the economy at large and consumers as well.

While the idea is a good one at heart the proposed restrictions would make it vastly more difficult for the average consumer to obtain financing for a home purchase. Many consumers would be shut out of the housing market all together.

An article on the rismedia site says:

RISMEDIA, August 3, 2011—A proposed rule by federal regulators to impose a minimum 20 percent down payment, stringent debt-to-income ratio requirements and rigid credit standards will deny millions of Americans access to safe, low-cost mortgages, according to the National Association of Realtors®.

Read the whole article on RIS MEdia Site

There is no question that some regulations on risky and predatory lending need to be put in place. There is no question that there were big problems with the way things use to be. However, a middle ground needs to be found, in any new regulations , so that the very consumers the regulators are trying to protect are not shut out of the market to the extent that they don't need any protection since they can't participate anyway!

If you are considering a home purchase anytime in the future I would encourage you to pay attention to the political debate on this subject. Let your representatives know that access to financing for your dream of home ownership is important to you. This access to finance issue and the mortgage interest tax deduction are probably the two most important political issues you can't afford to ignore if you are interested in owning your own home.
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Buyers In Home Owners Associations Beware

When buying in a neighborhood or planned development (condo or single family home) with a home owners association there are documents and rules and regulations that you must review. Commonly called HOA Docs and CC&R's (covenants, conditions and restrictions) these are the rules that govern the neighborhood and you when you become a home owner in that development. The Docs will cover budgets and expenditures as well as the organizational aspects of the community.

WHY DOES IT MATTER:
This is important for several reasons. First, you should read these carefully. Look for things that restrict your use of the property in any way, then ask yourself can I live with that? Examples would be no RV parking, no overnight street parking, restrictions on colors you can paint your home, Pet restrictions, even rental restrictions - can you rent your home out and under what terms?

COSTS:The big caution here comes into play while you are still a buyer. The documentation mentioned above has a cost associated with it. Producing the vast quantity of paper that typical HOA associations have has a labor and materials cost. Some HOAs' are very reasonable about their fees and charge a nominal fee for copying and labor. Increasingly, however, I am seeing associations turn this task over to outside 3rd party companies. This is when the cost skyrockets. I have seen fees as high as $650 for a 3rd party company to produce the set of documents that you as the buyer must receive prior to completing the purchase of your home.

Here is the catch. Even if you have a smart agent who negotiates that the seller pay these fees upon closing of a successful transaction - these third party companies want their fees

up front. Guess where the money comes from? You - the buyers - deposit. If for some reason you decide not to complete the purchase and cancel the transaction you will be chasing the seller (who in many cases is now angry) for these funds. Beware when entering into these transactions of the paperwork that says you agree to have these fees deducted from your deposit and that they are non refundable.

The reality is you, as the buyer, started the transaction and did place an offer but just know that if you fail to complete the sale those funds are likely lost forever. Be sure to communicate clearly with your escrow officer about what those charges are and when he or she will be ordering them.

2016 UPDATE:

The State of California Has stepped in and passed rules on these fees. Now the seller must pay these fees.  The buyer only pays them at the close of escrow IF the buyer and seller have negotiated that. This has saved many problems since it was implemented.  It has created one new problem though in that sellers must get their funds to escrow in a timely fashion so that docs are ordered and delivered to you, the buyer, in time to meet other loan and inspection deadlines.  This is something your Real Estate Agent should be on top of for you.


For more information on the Escrow process please contact us.

July 2011 This Month In Real Estate Selling Your Home

[youtube http://www.youtube.com/watch?v=T0PdO8xs6zU&version=3&hl=en_US&rel=0]

May Sales Stats In The Coachella Valley

As if low interest rates were not enough reason to get serious about buying look at these numbers! 

Exceeding all expectations the May 2011 real estate sales numbers reflect a growing trend. Over 900 homes sold - AGAIN!  This time 911. Once again a new  milestone - breaking the 900 mark for  homes sold in one month for only the third time in the last 2 years! You will also be surprised to learn that while 1274 homes came on the market in May 2011 another 1286 moved into escrow by going under contract.  Essentially wiping out the gains of the new homes listed.  Supply and demand seem to be leveling out.

More good news as the median price has risen 23% since May of 2009. While prices are still low and pockets of resistance still exist there is no question that exceptional values are becoming a little more scarce.  In general we can say that for homes in great condition prices are headed up not down on average.

Most importantly the months supply of inventory is dropping like a stone! Month supply of inventory is figured by assuming that the current sales rate continues and no other home is listed for sale. That would mean we only have 3.8 months inventory left!  Not only is that the lowest in more than two years but it represents a steady decline since December of 2010 when we had a 10 month supply. These are numbers that can't be ignored. A change is in the air. If you are looking to buy real estate it would be hard to beat the timing of this market.

County Document Scam Alert

Many home owners in San Bernardino County and Riverside County (Where Palm Springs is located) are receiving very official looking documents in the mail saying they need to order a copy of their grant deed to avoid foreclosure proceedings and prove that they own their home.

Like most scams it is designed to play on your fears and get you to pay money you do not have to spend. You may, at anytime get a copy of your Grant deed from a title company or the county for a very modest fee. Most everyone already has a copy of this in their final closing package from the Escrow/Title company.

Be careful of these bogus resellers of public information. If you receive any document, that pertains to your property, and are unsure what it means please check with a trusted local expert such as your Realtor, an attorney or your tax professional.

UPdated Mobile Search Site

IPads, Tablets, Smart phones - today many of us access the internet with equipment other than a traditional computer. I am pleased to be able to offer a tool for your mobile device that will make home searches easier when you are on the go. Try it out today.

http://palmsprings.realbird.comScan me with your smartphone to bookmark
our mobile website at http://palmsprings.realbird.com

Moving Day - Keller Williams Palm Springs Relocates to A New Office

[slideshow]

The 2nd of June was a big day at Keller Williams Realty in Palm Springs.  We relocated our office from Tahquitz Canyon way to 435 N Palm Canyon Drive.

Our new home is located in the former Madison Jewelers building.  It has been remodeled into beautiful new offices for the fastest growing national real estate franchise in North America.  Exciting too is the fact that we have received the Luxury Homes designation.  While able to service the full spectrum of real estate sales the Luxury Division is a great addition to all the services we can provide to you.

The really good news is that nothing has changed except our street address.  All phone fax and email remain exactly the same.  Even the zip code is the same.  So change your address book while you are thinking of it to 435 N Palm Canyon Drive Palm Springs CA 92262.

Next time you are by the office please stop in we would love to show it to you. If you have any trouble finding it we are next to Hamburger Marys and the Elizabeth Taylor Walk of Fame Star is right at our entrance.

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