The home you inquired about, located in Canyon Sands in south Palm Springs at 2380 Miramonte Circle W, #E, is in escrow effective 4/21/2012. The asking price was $163,249.
A regular home sale on Fee land at the same price with 20% down would require a loan in the amount of approximately $130,000 calculated with 3.5% interest rate over 30 years. That would give a monthly mortgage payment of $584.00, not including HOA dues, property taxes, insurance or leased land fees. Since this property is on Indian leased land and not fee land, there could be differing financing options and minimum down payment requirements.
The link below shows 3 additional properties in the same development with active listings on the Desert Area Multiple Listing Service. Pricing is $148,8000 to $169,000.
Please contact me if you need additional information or assistance in purchasing a property in the area.
Carolyn Voet (Lic: 01505751)
Windermere Real Estate (Lic:)
73-993 Highway 111
Palm Desert, CA 92260
View Listings link will be available for 30 days. If you do not see a link, copy this text to the address line in your browser:
The HOA is $360/month and the land lease is $1296/year and expires 2061. The listing shows that it has an offer, but may take a back up offer. If you're interested in this development, I would be happy to send you any listings that are currently on the market. I believe a foreclosure just came on the market. Please let me know if I can be of assistance in your home search in the Desert. BTW, this condo is located in Canyon Sands which is a well run community, beautiful landscaping, multiple pools, tennis courts and an on site management office.
Windermere Real Estate