Value a Lure along with the Weather
Realtors in the Palm Springs area are taking note of the fact that there is a growing trend for Canadian baby boomers to purchase homes in and around Palm Springs. Several report that they are seeing such clients come in on a regular basis with the frequency greatest around Rancho Mirage, but running high throughout the Coachella Valley.
The big selling season in the region begins in November when cold weather elsewhere causes clients to flock in. While the evidence is anecdotal and not yet fully assembled into a statistical form, multiple agents have reported a doubling in the number of Canadian boomers this season over the expected norm. The strong position of the Canadian dollar coupled to the large number of listings is believed to be the reason behind the upsurge.
Many of the Canadian baby boomers see the Palm Springs real estate market as a safer place to put their money than the stock market would be. Not only is it more likely to retain and appreciate in value, it affords them a place to stay as well. Protecting their assets becomes a more critical concern as boomers approach retirement age.
Vacation Visits Lengthen in Term
The first time that Canadians visit Palm Springs, their stays may be short and combined with travel elsewhere. They are on a vacation that includes visit to Los Angeles and other spots in California and surrounding states. Once they become aware of the region’s attractions, they tend to stay longer
Canadian baby boomers have generally been here before. They know what to expect weather wise and come here in great numbers every winter. Many now marvel at the great prices to be found in the real estate market. They are savvy investors and recognize a bargain when they see one. The exchange rates are great, and it’s a buyers market with all the property available for sale.
Primary Residence Converts to Twin Homes
With their children grown and gone from homes, many boomers find they no longer have need for the large houses they have. In the case of Canadian baby boomers, this often leads to a move to a smaller primary house and the purchase of a second home as a place to vacation in. Palm Springs turns out to be the perfect place for them to do this.
Canadian baby boomers can escape the harsh winter weather at home and luxuriate in the warm winter weather in Palm Springs and adjacent communities. They can still enjoy life in the homeland, but may now opt only to do so in the warmer months. As winter approaches, they pack up their gear and head south. In this fashion, they can enjoy the best of both worlds.
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