Palm Springs real estate and condos sales in Palm Springs
The issue with Indian Lease land might make the Palm Springs real estate market different from the real estate market in Palm Desert. About 50 to 60% of the properties in Palm Springs are on Indian Lease Land. That means that you own the right to the land read more about it : (http://www.claudinereal.com/Indian_lease_land.htm) That means that on top of the tax property, the HOA’s fees, you also have to pay the annual fee to the Indians.
Lower prices for condos and homes in Palm Springs on Indian Lease land.
So for the same initial price you would be able to buy a nicer condo, a larger one than the condo you would buy on FEE (you own the land) land. Most people though which are not familiar with the process prefer to NOT to buy on Lease land.
Palm Desert real estate and condo sales referring to owning the land
Almost ALL of the properties in Palm Desert are built on FEE land except for one or two communities (Marrakesh country club for example) . The number of country clubs in Palm Desert are in greater number and the prices of the condos are about 10 to 15% more expensive than in Palm Springs for that very same reason.
Also a larger number of golf communities and country clubs in Palm Desert
A larger choice of condos and golf communities in Palm Desert are drawing the majority of the second home buyers and our beloved “snowbirds”.