How much is hype and how much is true, what's on the street, real estate news? I personally think there IS alot of media coverage when home sales are moving up. Why not? Our local Palm Springs Valley cities NEED a recovery! On the street real estate news? Low Inventory...period!
My Palm Springs Valley (same as the Coachella Valley), is recovering from 6 years of housing meltdown. As it should be, right? This Valley is also a heavily seasonal, resort area. We have a key feature...beautiful winter weather! That is what has always driven our housing market, and that is what continues to drive it..in my own opinion of course!
Sales of existing homes & also new homes continue to creep up. Because I have been a solid Short Sale List Agent for almost 5 years, I've seen my % of Short Sale closings reduced to almost half of what they were last year. I close my Short Sales, just did not have as many to close in 2012! I think that's true for most of us that work Short Sales in the Valley. The flip side of that is my Equity Sales (Standard Sales) has been steady right through 2012. Sellers aren't going to sell their property if it's ridiculously priced, but it priced right against the Comps, it WILL sell!
If you are thinking of listing your Palm Springs Valley home or equestrian property for 2013, now is the time!
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