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Desert Home Sales Numbers Up; Prices Down - 12/30/09 10:04 AM
Desert Home Sales Numbers Up; Prices Down..This article from the Business section of the Desert Sun stresses again that although actual number of home sales continue to rise, the prices continue to drop...http://tinyurl.com/ydylsmk The thing is once again that when we read reports about "prices continue to drop", remember the following: Location! Yes, it is ALWAYS a factor in price/sf. Very Recent Comparables: If those price/sf SOLDS have held for 12 months or so..you are seeing the bottom and there are buyers waiting to purchase in that particular price point in that particular development. The slides in prices for mid to high (0 comments)
Prime 28.6 acre Farm For Sale in Coachella, CA. - 12/29/09 10:16 AM
Prime, 28.6 acre Farm For Sale in Coachella, Ca. Seller has reduced this gorgeous farm almost 50%/acre from last season..now $65,000/acre. Currently planted in alfalfa which is locally harvested 3x/year, this parcel can be easily sub-divided into 4 parcels, and the well is large enough to serve all parcels..plus help with irrigation water. INCOME PRODUCING: Small, older 3/2 ba SFR which is currently rented at $500/month. This would be perfect for your caretaker, or to live in while you build your custom estate home or barns. Outbuildings and 2 acres which are currently leased to a local businessman at $2,000/month. He (2 comments)
Short Sales in the Luxury Home sector are rising. - 12/24/09 05:47 PM
Short Sales in the luxury home sector are rising..Foreclosures will be much more common in 2010 for this price point.. This is a great article from Bloomberg.com http://tinyurl.com/yjhjbb4 I keep thinking that this is heading my way here in the California desert..so many golf course homes, estate homes sitting in exclusive, gated communities. Not many sales the past couple of years, and when they do sell now, they have been greatly discounted-either by the Sellers or the banks. Banks need to see that you are truly in Hardship to approve a Short Sale. I wonder if these owners are required to (1 comments)
HK Lane Opens La Quinta office! - 12/22/09 10:02 AM
HK Lane Opens La Quinta office! HK Lane Real Estate Co. has opened it's new 4,000 sf La Quinta office located in Old Town on the corner of Tampico and Desert View. With over 80 agents, HK Lane, as of November 2009 already ranks 5th in the marketplace...and only in business for 6 months!!! That's because so many of the local top producers moved to HK Lane when Harvey Katofsky decided to return to the business he started many years ago here in the desert.The La Quinta office joins the Palm Desert office, which is run by Broker Ron Gerlich, HK (2 comments)
Foreclosures & Defaults; Banks set precedent - 12/20/09 07:25 AM
Foreclosure & Defaults; Banks set precedent. The thing is that trying to predict the numbers of homes that will be foreclosed on in 2010 is impossible..because of THIS! http://tinyurl.com/y9n962x When consumers are told it is immoral, but the banks and big businesses use abandonment as a business tool, it is only logical that homeowners will follow suit..and with much less guilt. This is not a new topic, but it is really eye-opening how the Media is beginning to approach strategic defaults from the "other side". The "other side" being from the point of view of the homeowners, rather than simply the (0 comments)
Bank of America for a Loan? Run Forest, Run!! - 12/16/09 10:51 AM
Bank of America for a Loan? Run Forest, run!! I just read yesterday, again, that B of A is absolutely the WORST Lender..it appears they simply do NOT want to get their assets off the books. I'm talking here about B of A owned REO properties. Often in the MLS, the List Agent says something like, "You MUST be pre-approved by B of A Home Loans. Buyers can use any Lender they choose, but MUST be pre-approved by B of A" Doesn't sound so bad, right??This is how it begins..1. I write an offer on the property..full price as it will (7 comments)
Polo in the Desert; Tourney this weekend! - 12/12/09 08:40 AM
Polo in the Desert; Tourney this weekend! Most people living here in the desert are unaware that we are second only to Florida in numbers of fields, players and horses that come here every season to compete. Of course, the economy has dramatically reduced team numbers, but we are still here and still putting on a show!Most desert dwellers and visitors are also unaware that the games are public friendly..a nominal fee of $5/car is charged for Sunday's finals. At the final games which is EVERY Sunday at 2 pm starting in January..the club offers a brunch, or you can just (3 comments)
Rural and Roomy; Indio, CA has it's own beauty! - 12/10/09 09:33 AM
Indio has it's own beauty; Rural and roomy. Indio is located directly East of La Quinta and West of Coachella. It's got a ton of wonderful things to offer, although focusing on housing has made so many people only see the less desireable events unfolding in this city. Land was cheap and plentiful (still is relatively speaking), and the developers came in droves. Unfortunately, when the building stopped...the housing projects were abandoned, and commercial sites did not reach some of the more Easterly projects. Those same developments are being sold for 50 to 60% drops from original prices..some even more. But..as with (0 comments)
California Desert Update; It Does Rain in the Desert!! - 12/08/09 09:11 AM
California Desert Update; It Does Rain in the Desert!! Us, "desert rats" as we locals are referred to, are not used to rain and all the inconveniences of it. Our streets are not able to handle the water when rain is dumped from the skies. The sand itself cannot absorb the water if it doesn't have some time between dumps to allow the water to sink into the ground, hence the flooding that occurs rather quickly. The sand's surface gets hard and the water just runs right off it..hard to believe sometimes, but true.I love the rain! It makes it hard to (0 comments)
Buying Short Sales and Foreclosures; Buyers Beware! - 12/05/09 11:29 AM
BUYING SHORT SALES AND FORECLOSURES; BUYERS BEWARE! Great deals to be had right now in the Desert's Inland Empire. Approx 37% (could be higher) of closed sales are for Distressed properties. But...as with ANY good deal, Buyer Beware! By this, I mean, educate yourself, get representation by a solid, local realtor that WANTS your business and spends the time to stay on top of any new properties that become available. The following article is from today's New York Times, Your Money, section. It is a very good, very basic article..have a look.http://tinyurl.com/yzkvv5o (2 comments)
Canadians and out of towners..we're not GIVING houses away! - 12/04/09 09:49 AM
Canadians and out of towners..we're not GIVING houses away!! The California desert has some insane deals right now. The low end has settled to the point where I can pretty much predict that sales price/sf due to multiple offers coming in and pent up Buyer demand. However...you CANNOT buy a 3/2 ba home in a beautifully located and maintained gated community, with all the bells and whistles, in great condition, with a pool/spa, large lot AND upgrades for NOTHING! I understand wanting the best deal. No, not I nor any other Realtor can guarantee you the prices will remain the same, (3 comments)
California Desert Median Home Prices all over the map! - 12/03/09 09:10 AM
The California Desert's median home prices are all over the map! This article from today's Desert Sun Newspaper shows just how much the median price can change..and quickly! http://tinyurl.com/ygtbcpu There were some high end sales here in the desert, La Quinta and Rancho Mirage, and that immediately skews the median. The good news is that there WERE some high end sales, the bad news is that new homes sales plummeted even more. Makes sense. The high end is re-setting and the new Homes cannot compete with the Resales (mostly Short Sales and Foreclosures) that are driving the market.The lowest prices are not going (1 comments)
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.