The Foreclosure home numbers continue to decline. Great, except if you are a buyer that REALLY wants to buy, but REALLY does not believe it. I have many buyers..particularly at the $350,000 and below price point that will NOT believe there will be multiples. Just not going to happen. They are CASH, so write the offer for less..period! Don't both looking at those comps..I know best. So..higher offers purchase the homes and the inventory continues to drop...yeah! Great for our Palm Springs area market!
Palm Springs Foreclosures continue to drop in numbers...
Our Valley is a resort area. Fantastic winter weather, tons of golf, hiking, biking, museums, equestrian activities, social events, restaurants..and on and on. It is a lovely place to live and I know how lucky I am every day. I think when we look in that rear view mirror and try to capture "when the market hit bottom.", it just may be 4th quarter of 2011 for us desert rats. We still need to see how prices hold up through 2012, but wow has the inventory dropped!
La Quinta homes with prime views, lot orientatioin and all the preferred bells & whistles are still available. They just aren't quite as cheap as they were last year. My belief is that even if the "shadow inventory" hits the market in La Quinta and the Palm Springs Valley, it won't matter.
There is a pent up buyer demand for the nice homes..in most price points. Are we Recovered yet? Not until the Short Sales & Foreclosures stop entirely. But we are well on our way..what a difference from 2010 and 2011..sweet!
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