We are right in the middle of the season and what is the real estate market in Palm Springs telling us?
Just comparing with my last years numbers and sales I must say it is exactly the same pattern. The buyers who came here to spend a month or so have been driving me creasy.
Canadians are frustrated with Palm Springs Real Estate Market
The potential buyers coming from Canada and looking at condos to buy are just plain surprised and kind of not trusting what we tell them. We have to go out of our way just to prove that what we are saying is true : THE MARKET IS STABILIIZING and certainly not where it was a year or six months ago.
Canadians cannot get loans for US properties- Canadians need to pay cash
This is one of the set back we are encountering this season, the lack and difficulty of obtaining financing when buying second homes in Palm Springs. The numer of foreclosures coming drastically down is also another factor in buyers frustration.
Finally getting to terms with the market and if it makes sense buying a condo in Palm Springs
So different this season, 5 out of 6 buyers spend until the very last week of their stay to look at a large amount of properties, deep inside believing that they will find THE DEAL, and 2 days before they leave after they have lost one or two good opportunities, they just write an offer.
HARD WORK! I am telling you selling real estate in 2010 in not as fun as it used to be.
We are just lucky that our weather is putting everybody in a good mood when comparing to the rest of the country. Also as a professional realtor and doing this day in and day out, I am getting imune and also laid back building a ton of patience with my clients which I respect and love very much.
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Economy or weather conditions : no reason to complain in Palm Springs
So what if we have some rain here and there? Still better than 3 feet of snow and 20 degrees below. And yes prices of real estate -condos in country clubs- have come down but the buyers are here just for that same reason the mild winter and affordable prices for real estate in Palm Springs and the area.
What is the reality for us Realtors in Palm Springs?
Talking to other Realtors nationwide (social media and networking enable that easy nowadays) I can say that we are blessed. Our inventory is high, but the proportion of shortsales and bank owned properties is much smaller than the retail sales which means that the median price is not down as low as other areas and which means we can earn a decent living if we work hard enough.
The buyers from Canada are making the difference.
Yes thanks to the buyers from the west coast of Canada, for whom the Palm Springs Real Estate market is as attractive as it has ever been or will be, we are making our numbers.
No bitching in Palm Springs!
I will say it again, between our sunshine and the endless numbers of affordable condos for sale in the country clubs, we are making it through this downfall of the economy. So contact me to hear more about the real estate opportunities in Palm Springs and share your thoughts
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Investing in real estate
I am getting calls everyday from people upset with what they money is doing )or not) in various investments. Now that the panic is over it is obvious that real estate is the best place to invest your money in.
The ideal buyer : the investor
Over 50% of the buyers today are investors. It is a pleasure to work investors – they know what they want – just a good deal -not too emotional and just has to make sense.
The MLS and all the properties listed foreclosures or not
I know the area and the real estate inventory so well that my investors now buy sight unseen !! I am a happy realtor. Sold another unit in Palm Springs today and not even a foreclosure. I would say that the best priced properties I sold so far were from regular sellers.Call me to hear how to go about it
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Real Estate in Palm Springs
Yes back from vacation : on the “Legendary Blues Cruise” , ready to get back on track and looking at Real Estate in Palm Springs and the area.
Real Estate and Investment
The temperature has finally dropped a lot and my phone is ringing. What I hear from people is that even the ones that were skeptic about real estate investment and what would happen to their money, are coming now to conclusion that YES it is time and you don’t want to loose the momentum.
Statistics for Sales in Palm Springs
I will be posting the monthly statistics for Palm Springs, Rancho Mirage, Palm Desert, Indian Wells and La Quinta in a couple of days and we will have the real numbers to look at .
Condos in Country Clubs in Palm Springs
We are getting in gear for the season and the sellers are certainly ready to see their properties move. This coming season will be the last of very affordable prices for homes and condos in the country clubs particularly.
Foreclosures contact me
Foreclosures are getting scarce and not always best to look at ..even the banks are getting more difficult in their pricing.
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What about real estate in Palm Springs ? Is it happening ?
It is amazing what is happening – We are still in slow motion mode and still the number of people who visit for a couple of days only is mainly to look at properties and buy.
Canadians are kind of rushing…..now into Palm Springs.
The Canadian dollar is at its high and make our real estate looks good. The prices for condos or any property in Palm Springs, Palm Desert, Rancho Mirage or La Quinta very attractive to start with but now the currency value makes it even more.
Market update for Palm Springs and the Desert Cities
Watch out for my market update at : http://bit.ly/6DphZ and follow on monthly basis what is happening with prices,foreclosures and sales of condos or single family homes.
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Buying real estate OFF season in Palm Springs and the Desert Cities
You would think that most of the sellers would want to wait for the season to list their homes for sale in Palm Springs, Palm Desert or the other cities in the Desert ?
Condos and homes not Bank Owned properties
Well no they are not we can see more condos and homes coming up on the market every day and not the Bank Owned ones but the ones owned by regular sellers who read the news and the blogs and understand that the real buyers are HERE NOW, not paying too much attention to the heat but more to the momentum.
Prices for real estate stabilizing –
A few more months until season and the fact (I am convinced of this) that the prices of the properties will not drop , will not just stay stable but will in fact gain a little bit.
Will you buy soon or do you know somebody thinking of buying real estate in Palm Springs
Let me know your comments on that one, do you know somebody who bought in Palm Springs during the summer or is thinking of buying a condo or any kind of home before the season starts.