Keeping you informed ...

Here is the straight story about our local real estate market in Palm Springs and throughout the Coachella Valley.

Facts:

More and more homes are appearing on the market as bank owned. That means that a bank had to foreclose on the homeowner.

The banks are selling them at great low prices. They are selling fast. In most cases, they are getting the asking price or very close to it.

If you want a bank owned property and submit a low ball offer, you will probably not get that property. Someone else will.

Many of the bank owned homes are in terrible condition.

The ones in good condition are receiving multiple offers and are on the market just a matter of days. Smart buyers and investors are scooping them up.

Short sales are being ignored because of the poor turn around time in getting approval.

Locally, only 15% of short sales result in a sale. Most end up in foreclosure.

This is a great time to buy property to live in or to use as a rental and let someone else pay your mortgage for you. If you would like to know more about how you can take advantage of these great opportunities, please call me. I will explain the entire process.