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La Quinta Real Estate Market- Corona Update

By
Real Estate Agent with California Lifestyle Realty DRE# 1780607

La Quinta Real Estate Market May 2020


La Quinta Real EstateLa Quinta real estate including the entire Coachella valley and Palm Springs area is a microclimate unlike other California real estate markets.  We are unique in the fact that a high percentage of the real estate are second homes.  We are also seasonal and many desert dwellers leave for the permanent residence in the summer.  Because of this, our market is unique to our valley.  Our busy season runs from November-April- that is when the most people are here enjoying our sunny weather, golf, mountains, hiking, swiming, dining, and desert air.

Prior to the Corona virus- we had a very strong and active season going in 2019-20.  Prices were on a slow, steady over the last few years.  Inventory was fairly low, especially in my La Quinta Country Club neighborhood.  It was a sellers market with high demand from buyers and low inventory.La Quinta Country Club homes

With the onset of this Corona climate- it switched to a buyers market over night.  Many sellers were uneasy about showings, especially those occupied by owners or tenants.  Some buyers felt that with all the uncertainty- now was a good time to try to get a good deal. Relocating sellers and factoring in their future purchase of another home became a big issue.  

I was fortunate to have 2 homes in escrow at the beginning of March and both of those closed.  Since the onset- I now have 2 more in escrow, one with an extended closing and another due to close in May.  

Going forward, I am optimistic, and I believe that we will have an unusually busy summer in real estate here in the valley.  With the stigma attached to travel and flying- many LA and Orange County buyers are looking for a getaway close by.  We are 2 hours from both LA and San Diego- and offer a different view and much lower price/sq. ft. than in the coastal cities.  People are tired of looking at their four walls and are looking for a change of scenery.  AND... the we are told that the virus doesn't like the heat, we are sparsley populated compared to the coastal cities, so we feel like a safe haven! 

Already I am noticing the activity picking up with showings on my listings coming up this weekend and next week!

I'll be here all summer if you are looking to escape to La Quinta!

La Quinta Real Estate

 Photos by Chris Miller, One Point Media Group and Kathy Schowe

 

 

 

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Kathy Schowe   760.333.8886  California LifestyleRealty  California Lifestyle RealtySchowe Properties                                           

        

                  
                                   

Comments (6)

Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

The name sounds familiar the face looks different nice to see you back will you be interacting with us again? Inquiring minds want to know, Endre

May 01, 2020 10:24 PM
Kathy Schowe

Hi Endre!  HOpe it is the same face... just a newer photo.  I plan on jumping back in on the Rain ... I have missed all of you!  Kathy

May 04, 2020 09:07 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Kathy Schowe - you live in such a beautiful area.  This would be the time for buyers on the sidelines to buy.

May 02, 2020 05:34 AM
Kathy Schowe

It IS really beautiful here- I love living here!  Kathy

May 04, 2020 09:07 AM
Joseph Doohan
Joseph Doohan - Las Vegas, NV
I offer business strategy advice for realtors

Thank you for taking the time to keep us informed and up to date. Wishing you a great weekend ahead! stay safe!

May 02, 2020 05:45 AM
Kathy Schowe

Thanks for checking in Joseph!  Stay cool in Vegas!  Kathy

May 04, 2020 09:08 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Kathy:

So glad you are back and sharing all you know about La Quinta and the Coachella Valley. Things certainly are different right now, aren't they?! But sounds like some good news with activity in your area and with your listings.

And I always LOVE your photos - you always showcase your area beautifully with your photography.

Jeff

May 04, 2020 10:06 PM
The Woodland Team of Texas
The Woodland Companies - Austin, TX
Land Specialists

Thanks for sharing the information on this community, I hope you sell many of these homes. 

Sara

May 06, 2020 11:38 PM
Kathy Schowe

I hope so too!  Thank for checking in!  Kathy

May 11, 2020 08:15 PM
Roy Kelley
Retired - Gaithersburg, MD

Thank you very much for following my blog. Your comments are always welcome.

May 13, 2020 02:36 PM