thanks Broker HENA MARTIN 760-251-2868 email@example.com
The decline in Palm Springs real estate values has been brutal since 2007.
I would agree with the real estate agents here who say we are at or very near bottom, and interest rates are excellent. It might be a good time to buy. HOWEVER:
Palm Springs is not for everyone. People come and GO because they can't stand the summer heat, the lack of work, the $9 an hour jobs with no benefits, and the utter boredom that comes with living in a bleak desert. Yes, there is a nice mountain to look at, but the view gets old fast. I have lived here for 7 years, now age 60. Met some wonderful people and love my friends dearly. We have some very nice times in Palm Springs.
My house, bought in 2007, has declined 50% but It will never be for sale. For rent, maybe. But I would never sell at that kind of loss. I recently bought a condo at the beach in LA that was new in 2006 and also declined 50%. We split our time between the desert and beach. It's a nice life. The beach part of life is better then the desert part.
Say what you want about the other desert cities, Palm Desert, Cathedral City, La Quinta. The fact is if you tell anyone from outside the area that's where you live they say, huh? Never heard of it. Palm Springs has the name recognition, and the attitude that goes with it. The City is convinced it is quite something. Anything that happens in the world, if you believe our local newspaper, has six degrees of separation from Palm Springs. For example, a cop is shot in Cleveland. The shooter is a grandson of a woman who knew someone who once played canasta with a person who sold cleaning supplies to Lucille Ball's housekeeper to clean Ms. Ball's Palm Springs home.
When it comes down to it the best thing Palm Springs has going for it is one hell of a fireworks display at the High School. Really, I have a pool party every year becase of my spectacular backyard view and my friends still talk about it in December.
Don't even think of raising your kids here. If they have already been born here be sure you encourage them to go to college far away so they get a chance to experience what is beyond that mountain that separates this place from the real world and civilization.
Really, most of this is just playful rambling. PS is where I live 50% of the time in my house worth 50% less than what I paid for it. Before you buy something that I payed twice the price for just be sure this kind of lifestyle is right for you. Because you may never be able to sell the freakin' place you buy.
I am not a real estate agent.
Palm Springs has a feeling that is awesome some neighborhoods are so elite ,gorgeous and well kept depends what your needs are ,you can call me to discuss if I may assist you in making up your mind. Thanks HENA MARTIN Broker/Owner 760-251-2868
My 90 year old Mother tried living in San Diego near the coast to be close to all her children, grand and great grand children but couldn't stand the dampness and moved back to the desert where she continues to live very happily.
I'm writing this comment from our timeshare at the Desert Springs Marriott in Palm Desert. We have a home in Vista, Ca that we've owned and love since 1980 and a vacation home in Leucadia, CA (beach) that we actually spend more time in than our primary residence.
We love the desert but I have to agree with Tom, the homebuyer, from PS. I certainly wouldn't want to live here full time. If you are just planning to purchase a home as an investment and rent/lease it out it's probably as good a time as any I've seen since the crash in '07.
But where I disagree with Tom is that PS is his position on:
"Say what you want about the other desert cities, Palm Desert, Cathedral City, La Quinta. The fact is if you tell anyone from outside the area that's where you live they say, huh? Never heard of it. Palm Springs has the name recognition, and the attitude that goes with it."
Palm Desert and La Quinta and perhaps even Cathedral City are very desireable for the most part. I much prefer Palm Desert and La Quinta to PS. It's very upscale in many areas and there's a lot of very nice golf courses in the area if you're into golf.
That stated, if you're not a golfer there really isn't much to do; especially in the summer. You end up spending most of your time in an air conditioned environment which is not particularly my cup of tea. We've never had AC in our homes and don't intend to. Everytime I come back from a week at the desert I have a sore throat and I'm sure it's from breathing all that AC.
I certainly don't want to appear as though I'm bad mouthing the desert because that's not my intent. Obviously there are a few hundred thousand folks who live fulltime in and love the desert lifestyle. But I'll go back to my opening statement. Just my humble opinion. You either like the desert or you don't.
Is it at the lowest or at the highest?
So Cal Homes has bounced from the lowest from 2009 and starting to go up in price since March 2012. Many homes have already gone up 5%.
2013 if you believe in fortune telling,... looks like the possibility of double digit increases. 10-15%?
2014 is a much bigger question.
The good thing is there is room to expand and room for commercial growth which will have a direct impact on the area.
Harold Sharpe - Broker
So Cal Homes
California Department of Real Estate Broker License # 01312992
We specialize in pre forclosure (short sale), foreclosure and probate related investments throughout the San Diego, South Riverside, Orange County and Palm Desert/Springs area and would be happy to discuss sound investment opportunities with you anytime.
Historically, the Palm Springs market area lags behind the Los Angeles and San Francisco markets by approximately six months, meaning when those markets show signs of improvement it's time to purchase in the Coachella Valley as property values there should begin to rise within the next six months. If you're looking at real estate strictly as an investment with the hopes of selling once the market returns, consider keeping an eye on the L.A. and S.F. markets and consider using them as your guide.
"Flipping" property (buying a property and fixing it up to make a profit) can be done in any market, if done correctly. If this is your goal, I recommend getting a copy of the book "FLIP: How to find, fix, and sell houses for profit". E-mail me at firstname.lastname@example.org and I will gladly send you a copy.
If home ownership is your goal, now may be one of the best times to purchase due to the low interest rates that can be obtained. Interest rates have been slowly rising over recent months, so locking in now may be your best strategy.
As income producing property (purchasing a property to rent out), now may not be the best time to purchase as there are many rentals currently available, bringing rental rates down and vacancy rates are up.
I've sold real estate in the Coachella Valley for almost 13 years, primarily in the cities of Palm Springs, Cathedral City, and Rancho Mirage. Though I am now in Houston, my business partner remains in the Coachella Valley and will be happy to assist you. Please contact me directly and I will have him contact you. He has over 30 years real estate experience, and has been in the Palm Springs area real estate market since the early 1990s.
I hope this answers your question and that I hear from you in the near future.
Don "Buddy" LaRue
Keller Williams premier Realty
I'd recommend coming down for a few years if you're young and hanging out. If you're a senior and have a wad of dough now's a perfect time to pull the trigger. If you don't have that wad you may just want to check out a few resident owned Manufactured Home Communities. Just my opinion.