Paul Kaplan

The Coachella Valley features numerous communities each with their own character and style. I recently showed homes in Thousand Palms for under $250,000. However, you can also find homes in this price range in nice areas of Palm Springs, Cathedral City, Palm Desert and La Quinta. The overall cost of living will be similar in any of these communities. So its really just a matter of you deciding what area is most appealing to you.

As far as crime is concerned I would contact the local police department in the specific neighborhood you're considering, to get statistics. I'm not sure if Thousand Palms has their own police department; you may want to contact the Riverside Sherrif's department for stats.

Many homes in this price range may be Foreclosures. As a result, some may need some updating due to various levels of neglect. However, prices are the lowest they've been in 4 years. We're experiencing a great window of opportunity to find some great buys, with a large inventory to choose from.

Best of luck to you on your search!

Paul Kaplan http://www.PaulKaplanRealtor.com
Palm Springs, CA
Pacific Union GMAC Real Estate - Mon Nov 3 2008, 19:04

Your listing agent will most likely not be the agent that actually sells your home. His/Her job is to give your house the maximum exposure to no only buyers, but to other agents who are also representing buyers.

When interviewing and researching an agent, I would do the following:

1. Act like a potential buyer and search the internet to see what agents appear in various searches, like Google, Yahoo, or Aks.com. 80 - 90% of all buyers search on the internet. Its imperative that your listing agent is internet experiences and has a good representation to attract active buyers.
2. When interviewing actual agents, ask for their average days on the market of their listed properties for the past 6 months. Ask what the average days on the market is for your neighborhood. See how many listings they have. If an agent has 50+ listings, for example, how much individual time are they going to be able to spend on your particular property.
3. Pricing is key. Don't go with the agent that gives you the highest price estimate on your home. Have them support their pricing with actual "Sold" comps. These days, comps are only good for 3 months; make sure you're looking at accurate data. Ask what the absorbtion rate is in your neighborhood. If its 30 to 40 weeks, for example, go with an agent that gives you realistic advice telling you that you'll have to underprice the competition in order to sell your house in a timely manor.
4. Buyers are looking for deals, if they're going to buy in this market. So price your property appropriately so it looks like a great buy. Make sure your agent gives you realistic advice.

Best of luck to you!!! - Mon Nov 3 2008, 18:55

I would recommend visiting the home you're buying at all hours of the day, and check out the neighborhood. Look over the fence in the back yard. And knock on your potential new neighbors' doors and introduce yourself. Ask them directly about the neighborhood and if they know of the house you're considering.

Best of luck! - Mon Nov 3 2008, 18:40

If you are purchasing a home that has been foreclosed that the bank already owns, the purchase process is not all the different then buying any other resale home. The biggest difference, is you are buying the property usually in "as-is" condition with no disclosures. The time frames to get the whole transaction processed can take longer then usual, so it helps to be very patient.

Although some foreclosures are sold at auction, not all of them are. You can get financing on a foreclosure as well. However, as a foreign national buying in the US, getting a loan can be extremely difficult these days. If you are paying cash, you will have the advantage if you ever get into a bidding for on a property- my experience has been banks will take an all cash offer typically even if its not the highest offer.

Your closing fees are typically approximately 2% of the purchase price. Sometimes the bank will offer to pay for part of those. Taxes in California are approximately 1.25% per year of the purchase price.

Foreclosures are usually priced below fair market value. Quite often, there will be mutliple offers on a foreclosure home and it will sell for over the asking price. If you are buying a foreclosure home at auction, then you can expect to pay well above the original starting price. The starting bid prices are typically "teasers". Buying at auction can be frustrating, because even though you may win the bid, the bank that owns the property still has the option to reject your offer.

All that being said, there are many great buys out there right now on foreclosure homes. I would recommend working directly with a knowledgable agent with experience selling Foreclosures. That agent will discuss with you what you are looking for, and keep an eye on the market to immediately notify you when properties come up for sale. Often times, you have to act fast when a foreclosure is listed, as there are many people like you, that are looking for the same thing. It can be very competive.

If I can be of any additional service or answer other questions, please give me a call or email.
Paul Kaplan http://www.MidCenturyModernPS.com
760-285-8559
Pacific Union Real Estate - Sat Sep 20 2008, 06:13

yes, absolutely she can purcahse in Palm Springs. It is easier if she is paying cash for the property as well. For more information on buying in the US as a foreign national, please visit my website http://www.paulkaplanrealtor.com/ForeignBuyers.php

After buying a property here in the US, she can apply for a tax-payer ID here which is relatively simple. - Sun Sep 14 2008, 21:05