Palm Springs-One of the Top 10 Hottest Vacation Real Estate Markets

Palm Springs #4 of the Top 10 Hottest Vacation Real Estate Markets

Recently on MSN Real Estate - Palm Springs was named as #4 of the top 10 hottest vacation real estate markets. Some of the comments regarding real estate in the Palm Springs area (which also includes Rancho Mirage, Palm Desert, Indian Wells, La Quinta and Indio, etc.) were that this area has seen the same severe home-price declines as the rest of California. The median sale price they said is down 52.4% from its peak and is now at $130 per square foot, the same level as in the fall of 2002. They stated that the prices are relatively unchanged since the start of 2010... since we live here and work here had to check it out.

The statistics below only involve Palm Springs. Keeping in mind that the CA Desert is made up of diverse communities and each community has its own statistics that may not match the average of Palm Springs. This report is simply to show that the average sale in Palm Springs is much higher than the $130 per sq ft that the article I am attaching below states.

Palm Springs average price per square foot has been as follows since the first of this year: 2011

January sales - $171 per sq ft

Febuary sales - $220 per sq ft

March sales - $208 per sq ft

April sales - $223 per sq ft

May sales - $213 per sq ft

June sales - $203 per sq ft; The average for the six months was $206.33.

In 2010, Jan-June the average price per sq ft was $200.33

In 2009, Jan-June the average price per sq ft was $188.17

In 2008, Jan-June the average price per sq ft was $279.00

In 2002, Jan-June the average price per sq ft was $177.33

Of course we all know that price per square foot depends on a great many details...i.e. upgrades, condition, location, etc. These records are coming right from the MLS and they indicate that the low time was 2009 and that since 2010 the prices have stabilized if not increased a bit. Since the records I researched are much different from the article on MSN (they were quoting $130 per sq ft) we found it necessary to blog this information. Too many times our markets are wrongly publicized and it hurts us all.

http://realestate.msn.com/10-hottest-vacation-real-estate-markets#4

This being said Palm Springs and surrounding communities are on the Top 10 Hottest Real Estate Vacation Markets and we are grateful for that fact!

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

Golf Course Home SOLD!

Sun City Shadow Hills homes Just Sold! (edit/delete)

Homes are still selling amidst the 112% weather we are beginning to face in the California Desert. Here in Sun City Shadow Hills we have had a good selling season that has not stopped. More residents have stayed pasted the "Season" than in past years and the Canadian buyers are still loving our Resort!

This home just sold for $500,000. It had a South facing backyard, fairway and mountain view! The best price pool/spa Golf Home in Shadow Hills. This beautiful Golf Course Terraza model had custom touches such as ...built-ins, custom paint, spacious living area, perfect gourmet kitchen with walk-in pantry, butler's pantry, granite counters, breakfast nook. Separated bedroom suites and large open floor plan made this a terrific home year around or second home. Tommy Bahama style decor gave this home a desert welcome to any viewer.

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

ANOTHER HOME SELLS IN SUN CITY! (edit/delete)

We just sold this Avalino model home for near listed price. It was move in ready with a popular South facing backyard. There are a few more of this popular model on the market with a great floor plan. Soon Del Webb/Pulte will not be building this model as they will be moving to Phase 3 and changing all the models.

Phase 3 is in construction and will be for the next two and a half years. The new (second) Club house is under construction and will be completed by the 2011-12 winter season. Call us for information regarding re-sales or new home sales. (760) 972-7520

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

Taking Care of our Clients!

Taking care of our Clients in a Challenging Market! (edit/delete)

In this time of challenging real estate markets it is important for agents to try their best to keep personal emotions aside when advising clients. Admittedly, this is a difficult bridge to cross especially when we sympathize with our clients with regard to them absorbing a huge loss on the sale of their home. We are not doing our clients a favor by not pointing out to them what their competition is selling for regardless of what our clients may have initially paid for their home. We need to be careful not to allow ourselves to be depressed by a situation such as this or we may not be able to act from an unbiased position.

We had a such a situation a few weeks back. Our seller had just lowered their price as a result of a contingent offer that was cancelled. Another prospective buyer came and made a low offer, our seller’s made a reasonable counter and the buyer walked. About 2-3 weeks later that same buyer came back and offered even lower. Needless to say this was a huge slap in the face to our seller and we felt the pain. During our time with the seller going over this new offer we had to resist our own feelings and focus on the facts. Our seller wanted to know if they countered and the buyer didn't accept it...if they could go back then and say they would take the offer? We advised them that if they did it would put them in a position of weakness. They would no longer have a valid offer and with our previous experience with this buyer they just might come back lower.

Unfortunately looking at the comps and how few homes over $500,000 were selling in this community we encouraged them to strongly consider this offer without a counter if they truly did want to get their home sold and move on.

After much consternation they decided to go ahead and take the offer. When we left their home we were so “down”. We’re suppose to feel good when we put a deal together...not this time. We knew they were hurting inside and so were we. However, a couple of days later they were up! They had found a beautiful home that they wanted in a great community in Northern California where their family was located for a Great price! The blues were gone and they were so happy. Had we not focused on the facts and had allowed our emotions to get in the way they may not have sold their home, may have missed this lovely home near their family and the happiness this has brought them.

David Lang, Broker Assoc. & Bonnie Hart, Realtor

Bonnie & Clyde

Windermere Real Estate Old Town, La Quinta, CA 92253

www.bonnieandclyde.windermeresocal.com

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

(866) 961-5597 toll free

NEW HOMES AND MODELS AVAILABLE

SUN CITY SHADOW HILLS (edit/delete)

Below are the Model Homes that Del Webb/Pulte still have available. These have all the bells and whistles! And they want to sell them before they move the sales office to Phase 3.

Here are the available models :

Granada (1099 sq ft) $235,000 (includes solar)

Canterra (1257 sq ft) $236,000

Del Oro (1880 sq ft) $376,000 (golf course view)

Santiago (2076 sq ft) $445,000 (on the golf course)

Sorrano (2115 sq ft) $461,000 (on the golf course)

Merida (2379 sq ft) $461,000 (on the golf course

Dorado (2446 sq ft) $536,000 (on the golf course)

The following is Del Webb/Pulte's present inventory available in Phase 3. These homes and prices are as of today, July 3, 2011.

Inventory Homes:

Granada – Lot 24/32 is priced at $191,990

Canterra – Lot 172/31 and Lot 21/32 are both priced at $200,990

Cordoba – Lot 22/32 is $198,000, Lot 17/32 is $197,000

Serrente – Lot 20/32 is $210,990

Avalino – Lot 195/31 is $271,000, Lot 192/31 is $282,000, Lot 79/31 is $299,000, Lot 80/31 is $298,000

Sorrano – Lot 236/31 is $391,000 (on the golf course), Lot 112/32 is $410,990 (on the golf course), Lot 130/32 is $345,000

Dorado – Lot 139/32 is $379,000, Lot 129/32 is $383,000, Lot 142/32 is $425,000 (on the golf course)

La Paz – Lot 70/31 is $400,990, Lot 078/31 is $400,990, Lot 136/32 is $432,000, and Lot 137 is $431,000

We can help your clients on a referral basis secure any new home as well as re-sales. Be sure to ask us about our high Referral Fees.

Bonnie & Clyde

(760) 972-7520

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

(866) 961-5597 toll free

INDIAN WELLS

Thinking of selling your home in Indian Wells, Riverside County, CA?

If you own property in Indian Wells and are thinking of selling please give us a call. We have clients interested and even though it is summer the serious buyers are still around and looking. Most people make the mistake of taking their home off the market in the summer months thinking that no one is going to be buying homes in the heat. Not so! What happens is there is far less competition in the summer months and if you have a good property it may be the one to sell.

During "Season", Nov.-April, the competition is greater and therefore the buyer's have more to choose from and will be harder negotiators.

When we talk with clients who are interested in selling we tell them that we bought in the middle of summer when it was 120 degrees. And many of them admit that, yes, they bought in summer too!

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

(866) 961-5597 toll free

SMALLER NEW HOMES - PHASE 3

New Homes in Phase 3, Sun City Shadow Hills, Indio, CA (edit/delete)

Smaller models for sale now ... PRICED FROM $196,990-$210,990

GRANADA MODEL

CANTERRA MODEL

CORDOBA MODEL

SERRENTE MODEL

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

NEW HOMES AVAILABLE

More new homes - Sun City Shadow Hills New Homes - Indio, Riverside County, CA(edit/delete)

New homes now available - Mid size - priced from $290,990-$410,990(Sorano is on the Golf Course)

AVALINO MODEL

DEL ORO MODEL

SANTIAGO MODEL

SORANO MODEL

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

LUXURY HOMES - SUN CITY SHADOW HILLS, INDIO, RIVERSIDE COUNTY, CA(edit/delete)

THE FOLLOWING New Homes ARE AVAILABLE FOR SALE FROM $378,990-$536,000

Merida Model

Dorado Model

La Paz Model

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com

Second Homes and How to Maintain them!

If you are thinking of buying a second home but are concerned with how you would maintain and watch over it during the months you would not be in residence let me set your mind at ease.

We have many gated communities, some are guard gated and some of these guard gated communities have 24 hour security. Nearly every community have home watchers available for a minimal cost per month depending on the degree of service you would want.

Home watchers oversee many aspects of your home. They usually charge from $50-$100 per month and visits can be bi-weekly or weekly. Some of the services they provide are as follows:

1. Turn on all faucets, run dishwasher for a 10 minute rinse, run the garbage disposal, flush toilets
2. Check the thermostat and verify that the air-conditioning (or furnace) is working
3. Check interior bulbs and replace if needed
4. Check refrigerator and ice maker
5. Fill water buckets as needed (some homeowners leave plastic garbage cans in their homes filled with water to keep the moisture level up)
6. Monitor service providers - check to see they are doing their job (i.e. pool, pest, landscaping)
7. Pick up any mail or junk mail/put any packages inside

With the higher monthly charge they may include the following:

1. If there is a car they will start the car, check the tires and maybe drive it around the block
2. Check the golf cart tires, water and charge the battery monthly
3. Water any indoor plants
4. And some will even pick you up at the Airport when you arrive and make sure your thermostat is set at the perfect degree for your arrival!

Sometimes you might find a year-around neighbor (or your local real estate agent :) who will care for the very basic checks if you don’t want the full service of a home watcher. We would recommend a minimum of the following checks: #1, 2, 4, 6, and 7 above.

There are gardeners who will look after your yards: mow, weed, blow off debrie & prune. They can range anywhere from $80 to $150 per month depending on the yard and the extent of service needed. (Larger than normal yards of course would be a higher monthly rate.)

Then for those who want a private pool there are pool services who will maintain the pool on a weekly basis for approximately $125 to $150 per month.

The other regular service we would advise is pest control. There are several ways you can employ a pest control service; quarterly, bi-monthly, monthly or you can customize your service. The service charges vary from company to company and depend upon your frequency of use. As an example, a custom service could be bi-monthly from September through May and every month during the summer at approximately $32 per month of service. We would recommend periodic spraying. It keeps the bugs at bay and diminishes the chances of infestation.

However, we would always encourage checking references with any and all workers so you know who you are working with, especially a home watcher. You can find references from neighbors, year-around residents, local homeowner associations, and your real estate agent.

I hope this helps you in your pursuit of considering that second home and helps you understand life in the Desert a little more clearly!

Bonnie Hart, Realtor

Bonnie & Clyde Team

Windermere Real Estate Old Town, La Quinta, CA

www.BonnieAndClyde.WindermereSoCal.com

bonnieandclyde@windermere.com