Category Archives: Palm Valley Country Club

Palm Desert

City Enjoys Good Growth Rate

 

Palm Desert is the fastest growing city in the sprawling Coachella Valley located in the desert confines of Riverside County,California.  The city registered almost 50,000 inhabitants in the last census up from just over 40,000 in the 2000 census.  While this may seem as rapid growth to some, it pales next to the torrid pace sustained in the 80’s and 90’s.  In 1980, the population was a mere 11,000 or so.  It more than doubled to 23,000 plus by 1990 and over 35,000 by 1995.

Much of the increase has been attributed to the influx of so called snowbirds, inhabitants from colder climes such as Canada and New England states.  The city’s population expands even further every winter as tourists and temporary residents come to enjoy the sunshine and mild winter temperatures.  Ever larger percentages of the population however have come to live here year round.  The region is also attracting increasing numbers of Californians who are seeking a more tranquil lifestyle away from the state’s major urban centers.  The high value housing is an added lure.  Property here is seen as still affordable, but likely to appreciate in value.  This is due to the desirability that comes from the spectacular scenery of the region along with the abundant sunshine and cultural amenities that abound.  These include fine dining, golf courses, shopping districts, and casinos.

The city was called Palm Village back in the 1920’s when plantations of palm trees devoted to dates provided the agricultural mainstay of a region dedicated to growing crops.  These gradually began to give way to residential development starting in the 1940’s.  An area called El Paseo became an upscale shopping center.  The Palm Desert Corporation was formed in 1948 to develop the area for housing, and in 1951 the city incorporated itself as Palm Desert.

 

Celebrities Choosing to Live Here

 

Palm Desert is home to many well known names.  Bill Gates has a house here as does Rita Rudner and Jerry Weintraub.  They along with many of the residents of Palm Deser tlive here only part of the year generally in the winter months when the weather is sunny and mild.  Daytime highs are generally in the mid 70’s in January.  In July, the temperature often tops 100 degrees.

About two thirds of households own their units with the remainder renting their space.  There are about 1700 people living per square mile which is considered fairly low density.

Median household income here is just under $60,000.  This ranks Palm Desert as above the state average.  The figure is considered to be somewhat misleading because of the significant percentage of the population that is retired.  People in such circumstance often report incomes well below what their standard of living might suggest.  This is due to the fact that they have built up a substantial amount of assets over the years that are not reflected in income.

Palm Desert is home to several golf resorts which also feature spas and luxury hotels.



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Palm Springs! Palm Springs!

 Some Realtors tuning down for the summer  in Palm Springs – NOT US

 

As we are seeing the snow birds leaving town as a flock of migrating birds, I as a Realtor get in gear for the best of my selling season.

Well would you tell me but most of the buyers are there during the season ? Yes they are but the “lookers” too and some time they get mixed up and a lot of time is lost with those.

On another note the sellers noticing the number of “showings” dropping are also more open to price adjustments and looking closer to offers that come along

I am happy to speak from now on to REAL potential buyers which will visit for a week or so and this is all you need to look at a number of homes , make a decision and get into escrow.

Our number of sales and goals   for the last 5 or 6 years were reached thanks to the number of sales made from July on. So our decision to stay in town and get that business has proven to be right and will this year too if I look at my appointments schedule for the summer months.

I will keep on blogging and tell you what is happening in our market . stay tuned



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What is going on with the Foreclosures market in Palm Springs and the Desert Cities

Alvin Fuchs was quoted in the Desert Sun last week for his comments on the topic of foreclosures and prices in Palm Springs Real estate market.

What’s it worth?

Alvin Fuchs, a Realtor with Keller Williams Realty in Rancho Mirage, said just because a property is a foreclosure doesn’t mean it’s a hot deal.

Buyers should work with Realtors to compare other homes in the area and more accurately determine the home’s value

Some banks are looking to recoup the value of a defaulted mortgage, so buyers could end up paying more than the property is worth.

That’s particularly true now that inventories of foreclosed homes — particularly those priced at less than $200,000 — have plummeted in many valley communities.

Of 3,585 homes listed last week on the Desert Area Multiple Listing Service in five cities — Indian Wells, La Quinta, Palm Desert, Palm Springs and Rancho Mirage — only 187 were low-end, bank-owned properties, Fuchs said.

In some instances, the dearth of foreclosed homes has resulted in aggressive, multiple bidding by competing buyers.

It’s critical to get a good home inspector because, in most cases, “the bank has no clue what happened to that house,” Fuchs said.

Realtors and home inspectors said one of the first steps buyers should take when assessing a distressed property is to simply trust their instincts. If a house exterior looks bad, it’s probably worse than they think.

Before making an offer, buyers should do a thorough title search to uncover past problems that could become future obstacles, Franklin said.

Buyers must determine whether the effects of a poorly maintained home has resulted in structural rather than mere cosmetic problems.

Not only should buyers ask how long a house has been empty, but how long standard repair and maintenance have been on hold, Realtors said.

Distressed properties in the desert that have stood vacant for months or years with utilities shut off can deteriorate fast in triple-digit heat, even having mold problems that warrant expensive repairs.

As many as 20-30 percent of foreclosed properties nationwide are vandalized or cannibalized by frustrated homeowners, said Bill Jacques, president-elect of the American Society of Home Inspectors.

Although many buyers pay inspectors to determine what needs to be fixed, banks are usually reluctant to pay for the repairs.

“But basically, you get a home inspection so when you take the property over you know what you’re going to have to fix.”

When buyers are seriously looking at foreclosures they should  also be “open minded” to other options such as individual sellers. Many of them have dramatically reduced prices and are ready to negotiate.

Taxes and liens

A foreclosure typically wipes out the prior owner’s private debt, but there can also be public debt against a property, such as real estate tax or income tax, Franklin said.

Buyers should work with Realtors and the escrow company to research the land lease, property taxes, mechanics’ liens or lawsuits.

Although most liens are cleared at a foreclosure auction, some liens survive and carry over to new owners.

On tribal land, buyers should watch for illegal land transfers in which the landowner takes out a second mortgage and never reports it to the Bureau of Indian Affairs.

Prospective buyers should also be on the lookout for separate ownership “transfer fees” that can be as much as $4,500 in some valley country clubs.

In short sales, buyers should be sure to review the terms approved by lenders and not be afraid to say “no” later in the process.

Buyers engaged in short sales should be patient and brace themselves for what could be a long process, Fuchs said.

One of his clients spent eight months waiting for a short sale to go through, only to have the bank then foreclose on the property.

It just make sense to work closely with your Realtor who will guide you.

 

 



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Market Update for Palm Springs

Statistics and prices for homes and condos in Palm Springs area

November was quite surprising! Sales in November, like in December, are generally very much down because of the time of the year. This year, however, we just dropped a few sales compared to last month 333 compared to 378 the month before.

As well, pricing was very exciting. It is really stabilizing and trending up.

 

Median Price raising from October to November

Take a look at the median price of all cities included: $345,436 in November compared to $ 314,568 in October. Almost a 10% increase…

Did you buy your place in Palm Springs yet ? If not DON’T WAIT TOO MUCH LONGER…PRICES ARE COMING UP. The numbers in the tables below will show you.

 

The number of foreclosures and bank owned decreasing

The number of foreclosures is quite stable at only 240 Active compared to 233 the month before.

You can of course visit the page for statistics on the website: http://www.claudinereal.com/Area_Sales_Statistics.htm to go further back and have the whole year to compare.

 

Future looking brighter for sellers, prices raising

Buyers should watch closely what was working for the summer is not longer valid. Prices of properties wether condos or single family homes are going up and the trend will continue thru the winter. Time to make a move!



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Condos in Palm Valley Country Club in Palm Desert

Condos and views in Palm Valley Country Club

Palm Valley Country Club is typically one of the most popular country clubs in Palm Desert. Each condo in the community offers an extraordinary view of the mountains, golf course or lakes and fountains.

 

The Clubhouse at Palm Valley Country Club

The clubhouse is so friendly even people who do not own real estate  in Pam Valley Country Club take adavantage in the summer of the kids program put together for the locals.

The floor plans of the condos are well thought and the patios are where you would want to have your martini before dinner.

 

Prices and time to buy in Palm Desert today

Prices like for most of the real estate in Palm Springs area are down about 30% compared to the prices at the high of the market in 2005/2006. It is time to jump in and take advantage of the market and the price to step foot and own a condo in Palm Valley Country Club.