LEGAL PRECEDENT NONREFUNDABLE DEPOSIT DEEMED INVALIDCalifornia Association of Realtors Feb. 12, 2010An agreement for a "nonrefundable" escrow deposit is invalid and unenforceable, according to the recent California case of Kuish v. Smith (2010 WL 373225). This case serves as a good reminder for REALTORS® that inserting a "nonrefundable deposit" provision into a real property purchase contract may be legally ineffective. The Kuish case involved a $620,000 escrow deposit for the purchase of a $14 million oceanfront home in Laguna Beach. Instead of using a liquidated damages provision, the buyer and sellers merely agreed in the … (1 comments)
palm springs real estate: Palm Springs Area Sales Figures for July, 2009
- 08/03/09 11:06 AM
July Market Report Here are the real estate market sales numbers for July, 2009.These numbers are from my own research using the Desert Area Multiple Listing Service. They account for activity in the desert cities of Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Indian Wells, La Quinta and Indio only. Current Number of Active Listings (Homes for Sale): 4,713New listings that came on the market during the month of July: 951Number of homes that went either contingent or pending during July: 891Number of homes sold in July,2009: 753 (628 sold in July, 2008) … (0 comments)
palm springs real estate: Palm Springs Keller Williams Agents Meet & Discuss Local Market
- 07/14/09 09:02 AM
Keeping you informed ...Our local Keller Williams offices gathered together this morning at the Board of Relators in Palm Desert for our monthly sales meeting. Heath Hilgenberg reviewed market activity here in the desert. While Keller Williams was #1 in sales and volume again in June, the really important part of his message was the vibrancy of our local market.If you missed my blog report of last week, the highlights are worth repeating: 1. We have had four consecutive month of increased sales activity.2. Inventory is the lowest it has been since December, 2007.3. Last month, the prices of homes showed … (1 comments)
palm springs real estate: Palm Springs Market Heating Up!
- 07/07/09 07:35 AM
Palm Springs Real Estate Market Heating Up! The temperatures are well over 100 degrees here in the desert and the real estate market is hot as well. Sales continue to flourish. The last four months have been outstanding.Look at these figures for number of homes sold so far in 2009:January 492February 625March 693April 827May 839June 826Inventory throughout the valley is down to 5,800 as opposed to more than 12,000 a little over a year ago.June of 2007 reflected a 17 months supply of inventory in the valley.June of 2008 reflected a 13 months supply of inventory in the valley. June … (0 comments)
Friday, February 12, 2010
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