If you’re making a move to Palm Springs and you want a luxury home in a country club community that offers exclusivity as well as fun, walk through some of the many great properties at Indian Wells Country Club. You will find homes in gated communities, located on the golf course, with gorgeous views of the mountains and desert.
Palm Springs is just over 100 miles from Los Angeles as the crow flies, but worlds away in lifestyle and atmosphere. The city is an oasis in the desert with more sunny days than you’ll find anywhere. Famous as a getaway for Hollywood types, the city is a destination for golfers, tennis players and anyone else who enjoys an active lifestyle in the fresh air.
The members only, 27-hole Bob Hope Classic golf course at Indian Wells Country Club take a good eye and straight shot. The lush fairways offer gorgeous vistas of the mountains nearby, and palm trees produce a striking silhouette against the desert sky
Housing experts are growing increasingly alarmed that programs to bail out troubled home owners might have the unintended consequence of encouraging people to miss mortgage payments in order to qualify for easier loan terms.
Such initiatives typically require that borrowers be 60 to 90 days late on payments to get a mortgage reworked.
In an attempt to prevent abuses, lenders are scrutinizing home owners’ financial status–by poring over tax records, pay stubs, investment accounts, and bank statements–to determine if they really need a loan modification to avoid foreclosure.
The Palm Springs area is becoming increasingly popular among folks who want a second home, as well as for many who are looking forward to a comfortable retirement. And who wouldn’t want to live here? The sun shines almost every day and residents haven’t seen a big snow since the 1930s.
Some years ago, Merv Griffin saw the lovely side of this place and built himself a ranch. More recently, Mr. Griffin decided to take his ranch commercial and he laid out a master-planned community. The principal theme for living at the Griffin Ranch community is horses: equestrian trails and stables welcome the horse lover.
If you enjoy that lifestyle, but you don’t want the work or expense of a large property, why not look into Griffin Ranch condos for sale? It’s a perfect idea for your second home, and what’s more, this is a prime location for condo vacation rentals so you can earn money on your investment when you’re not staying there.
News reports have been packed with stories about declining home values, but a recent government report shows that the situation is not nearly so dire as some reports make it sound.
Despite big loses in some areas of the country, the majority of markets continue to show growth in home value over the last five years.
According to the third-quarter survey released by the Federal Housing Finance Agency, out of 292 metropolitan markets, 273 showed positive net home values in the last five years. Only 19 percent were negative.
While home values declined 4 percent on average in the last year, values were up nearly 29 percent over the past five years.
According to the Federal Housing Finance Agency, markets that gained the most over the last five years were:
- Honolulu: up 78.7 percent
- Virginia Beach: 72.6 percent
- Flagstaff, Ariz.: 66.5 percent
- Bellingham, Wash.: 65.6 percent
- Wilmington, N.C.: 62.1 percent
- Baltimore: 60.6 percent
Yes , as a Realtor I did help a lot of my clients and friends buying second and third homes in Palm Springs.
Today they come to me for help to get them out of there. They are not in the position of foreclosure or even short sale. They are not delinquant and pay all their bills but they feel it might not last for much longer considering the economy and their income situation.
They spoke to the banks to find a solution, they are all intelligent responsible buyers and owners and kow that there must be a way they can ride this wave.
How about getting you to help us out there and reach the banks for a programme for people who take their credit seriously, who take their home ownership proudly and who as patriotic as they can be do not want to contribute to adding more foreclosures into the system ?
I am looking for people in the same situation that know they can hold on for 3 to 6 months but not much longer in making their mortage payments but do not want to give up and are determine to have the banking system find a way (which would work for them too ) to keep the owners in the business of owning and paying their mortage and the banks in the business of lending money.
The way I see it is to increase the length of the loan and this cut down the amount of the mortgage , keep the value of the property until the market gets better and keep the economy going.
What do you think?
I hear this everyday around me : “How do I find a way to avoid foreclosure on my second home or homes :
I am a realtor in Palm Springs (mainly market for second and third home owners) and I hear number of realtors and clients owners like me who got carried away and bought properties maybe over the top seek for solutions.
When you are a Realtor in this market and when you have to face 3 or 4 mortgage payments every 4 weeks, you feel “the heat” and you want to avoid being in a position you see your clients getting in.
I called the banks and in fact there is no body to talk to (we know that) but I mean no program or department in place to talk to people that are still good for the money but KNOW that within a few it is there waiting for them the “missing the payment” or the other alternative they advise you to do is to sell that property (don’t we wish we could sell at what we bought it for !!!) but we know that in our market today selling would not solve the problem and it would have to be a short sale – eventually a foreclosure.
The banks transfer you to their collection department where in fact they are very rude and not very helpful people get to talk to you and the answer is always “CALL US AFTER YOU FAIL”.
Well I do not accept this, I would believe that banks do not want to see more foreclosures and that they would try to “help” and find a way to cut your monthly payments by maybe doubling on the length of the loan for example. But I am finding out that NOBODY is taking the problem at the bottom before it become a bad desease that you can not cure…YES there is a program with FHA if it is your primary residence…whey could’nt we have something put in place to help the owners of second homes keep their ownership and mainly keep the inventory down and prices up..and just in general HELP THE MARKET TO HOLD ITSELF!!!!
LEt me know ..I want to hear…
I am back from vacation outside of the country and I must say it did sound bad from where I was. But then back at my desk and talking with my “potential clients” I understand that we could do worse….Yes sales are up and prices down..but inventory is getting down too (as well as the foreclosures in our area) and we might just be hitting the bottom of the market…I am giving you here today’s article in the Desert Sun our local news paper (considered by all as a very pessimistic paper):
House Market in Correction Mode …I am really interested in your comments…
Why am I so POSITIVE…
I guess it is my performance, our local market and what I am doing …my results. hat put in me into that state of mind…so unnerving for the rest of the bunch…the realtors out there who did not sell anything in 6 months!!
I guess that I understand my market, listens to my clients and have the patience to find the right buy for them…They stick with me (see the testimonials ) http://www.claudinereal.com/Testimonials.htm and send me their friends.
Yes this might be my best year still …
The sellers are on the bench waiting the “right” offer …(i.e. I guess the way you present the offer might make it look great or just good to trash) , and the buyers are also sitting on the bench waiting for the “right deal”.
This is what I know how to do..
Clients contact me and want to look for foreclosures http://www.claudinereal.com/Foreclosures.htm…and I really want to help but it seems that our area is “LOW” on foreclosures …I am of course of areas where “my clients” would like to buy …desirable areas that make sense down the road for resales (isn’t the main focus when buying foreclosures) .
What I am finding out is that looking at “regular” listings and reading in between the lines we can understand which are the ones we will be able to “get” for much less and at a comparable price that you would have on a short sale or foreclosure.
Most of the sales closed this summer were is this parameter.
Let me tell you more…don’t be shy and post your comment if you disagree.
I always spend my summer in town ; this is the down time I usually use to update my websites and take care of projects kind of put aside during season.
This is it is all different.
I have closed over 12 escrows….still a few deals not closed….and more coming …
And I am reading everywhere how bad things are!
Our local micro market is doing fine..(Well I would not say that we are selling at prices seen 2 years ago…but we are selling ..)
Deals are being made and mainly with foreigners (Canadians for the most part down here) and most of them cash deals.
What is the impact for us getting close to our season ? The inventory is coming down…not as much as we would like to see…but coming down.
See my real estate news items : http://www.claudinereal.com/Real_Estate_News.htm
What are your concerns in buying real estate NOW in our area ?
Have you heard things different that what I am saying ?