The Palm Springs Valley is a resort destination. Our winter temperatures cannot be beat- day time temps are normally near 80 degrees and the evenings cool to about 40 throughout the winter months. It really is special here.
Buyers continue to invest in our local market. Investors swept through during the trough, particularly in the entry level market when it was $150,000 and below. Those days appear to be gone. When a home hits the market priced that low, it doesn't last and generates multiples. The entry level price has risen, though still below $200,000 making it very affordable.
Yesterday's local paper, The Desert Sun, had an interesting article on the regions decling inventory.
On the street, I am finding that my buyers generally still have to be outbid on a home or two before they increase their offers to one that will buy a property. Our price/sf is still very reasonable..you just cannot compare it to 2011, which appears to be the very bottom of our local real estate market. Still a great time to be a buyer in our Valley, but it appears that Sellers are crawling back into the drivers seat here in the Palm Springs Valley!
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