New Palm Springs Ordinance
New Palm Springs Ordinance. Palm Springs is now the first city in California to affirmatively recognize and regulate co-owned homes. This is a big deal for companies like Pacaso.
Co-ownership is up more than 20% year over year, and is being marketed as the future of second home ownership. By consolidating home buyers into fewer luxury homes, these companies relieve the pressure of second home demand. Contact local resident and agent, Kim Kelly if you’re looking to buy or sell in the Coachella Valley. 760-285-3578.
The new Palm Springs Ordinance, passed by the Palm Springs City Council should help to integrate and also regulate co-owned homes, which are often luxury second or third homes for the buyers. “This milestone sets a precent for other cities in California. Buyers who purchase a home together through the co-ownership marketplace have an owner’s mindset and are committed to taking care of their home.” Pacaso CEO states.
The new ordinance outlines rules designed to protect the neighborhood’s quality of life, and penalties for violations are clearly stated. The new Palm Springs Ordinance compliments the Good Neighbor Policies set out by co-ownership companies. Take the tour of this private 9+ acre equestrian estate located in Thermal.
