Moving Guide

Moving can present many big challenges. The key part of vacating your home is finding the right mover.  In addition to finding a reputable mover you need to understand what is and is not covered as part of your move. 

Tip: A quick call to your insurance agent is probably a good idea.  Many time home owners policies cover your goods while in transit. make sure you have all the bases covered when it comes to your big move. 

Use this link to down load the industry handbook to selecting the right mover and knowing your rights:

Download PSagents Complete Free Moving Guide

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A Real Estate Shortage?

As unimaginable as it might sound, a record low inventory of available properties is starting to show up in dozens of areas around the country. Right here in the Coachella Valley - Palm Springs - there is a pent up demand for homes in certain price ranges. With the big banks involved in so much of the potential inventory reaction times are slow and don't always match the needs of the market. This month in Real Estate talks about this issue in a a little more detail.

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Don't Miss The Film Festival Starting Thursday!

The film fest returns this year, its 22nd, with an expected crowd of attendees numbering some 100,000 plus. With a mix of brand new films, other film fest winners and cutting edge foreign films there is an endless variety of films to enjoy.

Award recipients have already started to be named for the Gala black tie awards event to be held during the Festival. Carey Mulligan and Jennifer Lawrence are slated to receive awards for break out performance and rising star awards respectively. Other honorees this year include Michael Douglas, Ben Affleck, Danny Boyle, Diane Warren and Robert Duvall.

Past honorees at the event have included Jennifer Hudson, Dakota Fanning, Scarlett Johansson. Attendees and other honorees have include such stars as Clint Eastwood, Leonardo DiCaprio and Jeff Bridges.

Not only is the film festival fun but it gives Palm Springs a chance to shine in the spotlight of international media attention. Be sure to get your tickets early as many showings will sell out. Got to the Palm Springs International Film festival website for more information and ticket reservations.

Whatever you do miss this great event and the chance to see world class films in our own backyard!

 

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Title Binder Policy Can Save You Money

In the Palm Springs market place a typical expense of a seller is to pay for the title insurance policy for the buyer when they sell their home. However, if the seller had purchased a Title Binder policy before closing escrow their escrow (back when they purchased the home) the seller can now realize a substantial savings upon resale.

How does this work?

When you are the buyer getting ready to close escrow (finalize the sale) on your new home be sure to request that you be issued a Title Binder policy.The seller you are buying your home from is actually paying the cost of your Title Policy. However, you would request and pay for the Title Binder policy

(typically a few hundred dollars or less - 15% of the cost of the title policy) yourself.

Then three years or less down the road when you go to resell your home you tell your agent that you have a binder policy for the title company. This gives you to a substantial discount on the policy you are going to have to provide for your buyer. Your only fee will be on the difference between what you paid and what your buyer is now paying. Again typically a few hundred dollars versus the thousand plus that you would otherwise be paying.

The three year restriction may not work for you if you are planning on buying and holding the property. Some title companies will allow you to extend it to four years for a small extra premium. Despite this is if you are buying for the short term, know you will be transferred, up-size or downsize or even if you are flipping houses for profit
Title Binder Policies make lots of sense.

Small savings like these may not be dramatic but can really add up overtime and maximize the value of your home ownership experience.

 

A Most Happy 2011 To You!

A very sincere wish that 2011 is the year that brings you the people, things and experiences that are most important to you.

Market Trends and This month In Real Estate

November numbers are out for the Valley and show a decided drop in the over all sales. A 7.7% drop from Novemebr 2009 when 826 total properties sold vs. 762 in 2010.

Difficulty for consumers in obtaining loans and the vast number of short sales (delayed property closings) surely contributed to the lower number as did a general slowdown in foreclosed properties coming to the market.

There were some bright spots in the market - as always Real Estate is local and a look at the local areas confirms that. Palm Springs Central (north of Ramon Road but south of Vista Chino) saw an increase of 29% in the number of homes sold year over year. It was also the second month in a row as October had a 22.2% increase. Thousand Palms and La Quinta as well as two of the three sections of Indio all saw significant double digit gains in numbers of properties sold year over year.

At the end of the day, however, we saw a drop and the inventory slipped back up to 9.7 months. This is the number of months it would take to sell existing inventory at current rates if no other homes came on the market.

In the new year we will be looking for government programs, incentive and consumer confidence to drive home sales. Additionally the banks, at least in the Palm Springs marketplace, should start releasing more homes from their foreclosure inventory in the lower price ranges. There is a pent up demand for the lower priced homes that has not been addressed on the local level.

See More Reginal and National Statistics in my One Minute Real Estate Report