Buyers in Coachella Valley are at a cross roads.
Buyers in Coachella Valley. Is it a good time to buy??? I get asked this very questions almost every day. I, like every other agent you may speak to, do not have a way to predict the future. What a good agent can do however, is stay on top of market developments, have the experience of working through slumps, changing markets, and different economic winds to help you answer this question honestly. Local Coachella Valley agent Kim Kelly, can help you figure it out. 760-285-3578.
The number one thing I ask my potential buyers is, “what is your motivation? What is driving you to perhaps invest in the Coachella Valley?” Every buyer has a different reason for buying here in the Coachella Valley. It may be as a winter vacation home. It may be as a retirement home. It may be to land bank some agricultural property. Perhaps develop. Maybe an equestrian possibility. What your motivation is will help determine if it is a good time to buy. Overall, the real estate market is shifting from a sellers market to a buyers market. We aren’t seeing huge price/sf drops, but we aren’t seeing property values continue to climb either.
It feels pretty stable. We do not have a huge backlog of inventory of any kind, entry level, move up or investment. The properties available are open to offers, but don’t try to lowball the sellers. Know your comps, be pre qualified, or have your proof of funds ready, and you’ll get a deal. Interest rates have come off their high, but are still over 6.5% for conventional loans with good credit. If you’re a cash buyer, you are in luck. Cash really does talk right now because the buyer pool is less competitive than it was a couple years ago. Terms are hugely important to a seller. Write a fair and clean offer, and you can get the property you want. If you are looking for an investment, take a tour of this 4 acre estate property in Bermuda Dunes. Offered at $2,799,000, it is a cherry property!
