Investment Properties in Coachella Valley.  What’s happening East of the Coachella Music Festival grounds?  Plenty!  The Festivals have brought more and more people seeking investment properties, out to the East Valley.  I can still remember when I had to tell people that I was in Palm Springs, rather than Indio, just so they’d know what part of the California world I was in.  Literally NOBODY knew where Indio was..not any more!  Call Kim Kelly, local Realtor, resident and Equestrian for a FREE consultation at 760-285-3578.

Why are the investors heading to the East Valley?  Lots of reasons, including large homes that are still priced well below our median.  Land prices/acre are still very low, ranging from approx. $25-35,000/acre for raw land out near the HITS showgrounds and Thermal Club, to $50-$100,000/acre as you get nearer to the actual Festival grounds.

The Kohl Ranch project encompassing 2200 acres near the Jacqueline Cochran Airport is said to be getting nearer to approval of it’s Surf Park and surrounding home sites.  Palm Springs, Cat City, Rancho Mirage, and all the desert cities are incredible, but Investment opportunists are moving on..closer and closer to our beautiful Eastern Coachella Valley.  Take a tour of the investment property below..20 acres with multiple living quarters, a 10-stall barn, horse safe fences, irrigated pastures, offered at $1,500,000..GREAT VALUE! 

 

COACHELLA VALLEY INVESTMENT OPTIONS:  

The Coachella Valley is still a solid place to buy a property if you’re hoping for an investment return.  Especially if you like the Valley as a possible place to retire in the future, or even to visit when your property isn’t rented.  Some areas of our desert cities, and most HOA governed communities, now have 30 day minimum rental restrictions, but so what?  You can still cover all your carrying costs and put some money into your IRA, just not as much as before the restrictions were put into place.  Call Kim Kelly, local Coachella Valley Realtor, at 760-285-3578.

The Coachella Valley is still very friendly to buyers that want to make some money renting their properties, just for an occasional weekend, or as an investment opportunity.  It’s a GOOD thing that the Cities pay more attention to noise complaints, stuffing too many people into too few sleeping areas, letting people crash on your patios and around the pool..etc.  These practices do not enhance your property values, so be glad they’re paying more attention.  Be respectful of the neighborhood, keep tabs on your tenants, follow up on complaints, pay your City license fees and taxes, and count your extra income!  Here’s a short break down of Desert Cities/Rental Requirements.

Palm Springs:  No more than 32 rental contracts in one calendar year Plus 4 more contracts during July, August & September.  Good area for investments.

Cathedral City:  Currently a moratorium on new vacation rentals, that will expire shortly..CC&R’s and HOA’s must be observed.

Rancho Mirage:  Short Term Rentals are possible in RM, but beware of the rules as in all Coachella Valley cities.  RM has many CC&R and HOA governed communities, so know where you buy!

La Quinta:  The City allows short term rentals, as long as you are careful to comply with the City rules regarding STVR’s.  Again..HOA communities most often don’t allow less than 30 day contracts.

Coachella/Indio:  Friendly to vacation rentals as are most desert cities.  Good area for Investments as home purchase prices are a bit lower.  Always observe and understand that CC&R’s and HOA Rules & Regulations may set minimum rental restrictions. 

5 steps to SOLD!  Are you thinking about selling your property?  Doesn’t matter if it’s a killer resident on a golf course, an entry level home near school, a cabin in the mountains, a mid century in Palm Springs, a piece of land, or an equestrian property..get your property ready to SELL!  Contact local Realtor, Kim Kelly at 760-285-3578 for your Free property consultation. [Read more…]