Canadians have been buying homes in Palm Springs and La Quinta for years now..just more in the past several years. It looks like 2012 will continue to encourage this trend. This article is just an opinion, but it seems it’s the opinion of many different economic advisors and indicators for 2012. The American dollar continues to impress as a wealth protector..which should bode well for continued investment in the Palm Springs, La Quinta real estate market. And..how can you beat these rock bottom prices???
#Palm Springs Film Festival keeps our Valley on the map!
Palm Springs Film Festival helps to keep our Valley on the International map! This year the festival is especially heavy with stars..George Clooney, Brad Pitt & Angelina Jolie, Charlize Theron, Oprah Winfrey..yikes! The Red Carpet was on fire with celebs last night and people come from all over to be a part of the festivity.
As if our amazing weather (80 degrees this week), beautiful views, golf courses, polo games, horse show events, hiking, biking, walking, bird watching, shopping, dining, Theatre, and Museums aren’t enough reason to buy a home in the Palm Springs or La Quinta area???
Luxury Real Estate offices are making a comeback..
Luxury homes in La Quinta and Palm Springs
Luxury, boutique real estate brokerages are making a comeback. With the number of Real Estate Agents tumbling over 20% in the past 3 years, the industry is seeing many of the remaining agents switching brokers at regular intervals. Hoping to capture something new, or a specific marketing that one Brokerage may offer. This article from the LA Times points out several reasons why the Luxury Brokerages will continue to succeed.
http://www.latimes.com/business/realestate/la-fi-lux-realty-offices-20111229,0,1394779.story
Here in the Palm Springs Valley & La Quinta, I am seeing a huge rise in demand for luxury property viewings. Offers are coming in much closer to List Price, but then again, the List Price is much reduced/sf than they were 2-3 years ago. In our Luxury Real Estate market here in the desret, prices have corrected approx. 30% in most Luxury developments. That’s a huge contrast to the 50-60% drops in many developments here in the desert. That huge drop hit, and they aren’t going any further as evidenced by the mulitple offers that Buyers are submitting on these reduced properties.
One of the fastest areas of recovery appears to be La Quinta and Palm Springs proper. The entry level homes simply are not as numerous and the Buyer numbers have increased, actually driving the price/sf up from the List Prices! Good news for our Valley..not so good for those Buyers and Investors that waited 12 months too long. However, the price/sf is still insanely low..often MUCH less than what it would cost to build a replacement home..
Polo Clubs in the Palm Springs Valley area
Polo Clubs in the Palm Springs Valley
Deer Creek Equestrian Center
There are two Internationally recognized Polo Clubs in the Palm Springs Valley. Both are located in the Eastern side of the Coachella Valley (Palm Springs Valley and Coachella Valley are synonymous). The Eastern side of the Valley is much less developed and has a wonderful rural feel. There are many housing developments of course, (See La Quinta, Indio, Thermal and Vista Santa Rosa), but there is also a surreal feel to this side of our Valley.
The two polo clubs, Eldorado and Empire, occupy hundreds of acres of open land. There are approximately 20 playing fields between the two clubs, with each polo field being about the size of 9 football fields! Polo is a huge industry to the Eastern Valley bringing in approx. 1,000 horses each season, some 250 players and their families and grooms. Housing leases and sales occur along with all of our polo visitors..good for our Valley!
The Polo season starts in mid-November and goes through mid-April. Games are played Weds., through Sundays. Practices are Weds., and Thursday, with tournaments being played on Friday, Saturday and Sunday. The game to catch is always the 2 pm game on Sunday. This is the Featured match, complete with announcer, play areas for the kids, champagne half-time divot stomp and sometimes balloon rides! It’s quite a show, and the best thing is that games are often free or perhaps a minimum fee of $5/car for entry.
The Eldorado Polo Club
Eldorado is our older club; 2012 is it’s 55th year of play! The club is open to all, and Sunday tail-gaters are welcome.
Location: 50950 Madison St., Indio
General Information: 760-342-2223
Game Schedule: 760-342-4133
The Empire Polo Club
The Empire Polo Club is adjacent to the Eldorado Polo Club and is owned by the Haagen Family. Started in 1987, new Fields are being added on an annual basis. There are now 9 fields, and a Polo Arena with lights, for night polo games! All games are free and the schedule is the same for both clubs.
The Empire Polo club also hosts many different events. From weddings, to corporate events to sweet 16 celebrations, the club with it’s four different event sites is unique and beautiful. Perhaps the most famous event of the Empire Polo Club is the Coachella Music and Art Festival held for two weekends in April.
Location: Main entrance is on Monroe St. and 51st ave.
General Information: 760-342-2762
Game Schedule: 760-342-9111
Palm Springs has horse boarding!
Palm Springs Valley Boarding Facilities
There are many Boarding and training facilities located in the Palm Springs Valley. If we consider the city of Palm Springs as the Western edge of our Valley, and Thermal as our Eastern edge, here are a few of the boarding facilities available to horse owners who live or visit the Palm Springs area.
Smoke Tree Stables, Palm Springs:
Family owned an operated for over 60 years, this private stable is with the Smoke Tree Ranch. Boarding, training, and guided trail rides are available.
Location:
2500 S. Toledo Ave. Palm Springs, CA. 760-327-1372
Clancy Lane Boarding Stables, Rancho Mirage:
This private stable is ideally located on the prestigious street of Clancy Ln. off of Bob Hope Dr. in Rancho Mirage. A full-service boarding facility with an air-conditioned barn, box stalls and outside corrals. Top level training and riding instruction is also available.
Location:
Clancy Ln., Rancho Mirage 760-773-5080, 909-856-5565
Coyote Ridge Stables, Morongo Valley:
Coyote Ridge Stables has been in business for over 15 years and is owned and operated by Sue Lund and Sally Ellis. All rides through the gorgeous Canyons of the Morongo Valley are accompanies by experienced Guides.
Location:
50639 Panorama Dr., Morongo Valley, CA. 760-363-3380
Rancho Polo Equestrian:
Rancho Polo is a polo and hunter jumper boarding facility in Thermal, CA. Offering on site training, stabling and turn out pastures, this equestrian facility is full-service. A galloping track, polo field, and various sized arenas are available for Boarders. Close to the HITS horseshow, it is a favorite amongst horseshow participants for seasonal boarding.
Location:
Ave. 58, Thermal CA. Mary at 760-250-5707
#Palm Desert Country Club is back in action!!
Golf returns to Palm Desert Country Club!
The Palm Desert Country Club in Palm Desert, California is back up again. There had been no golf for a long time due to the club’s being in bankruptcy. It has been purchased by Canadians, and the new owner bought a home there! This is one of our oldest golf clubs in the Valley and I am so glad it’s up. It’s also one of our most reasonable courses to play, and it’s open to the public to “pay as you play.” Golf courses are struggling now here in the Valley. The private clubs that charge huge initiation fees are trying to figure out how to keep attracting new players. At Palm Desert Country Club, they don’t have that problem. They just needed some cash to get the greens and clubhouse updated and they’re off! I see success here…read more here..http://www.mydesert.com/article/20120102/NEWS05/201020315?fb_ref=artsharetop&fb_source=home_multiline
Palm Springs Valley Polo Clubs
Polo is fun to watch too!
Palm Springs Valley Polo Clubs. Palm Springs and La Quinta-actually all the Desert Cities are known for many different things. Golf, of course, is huge in our desert area. Warm Winters in ALL our valley cities. Fine Dining, magnificent hiking, Architectural types such as the Palm Springs modern..but there’s another special thing we are known for..the International Polo Clubs we have in our Valley.
There are two Internationally recognized Polo Clubs in the Palm Springs Valley. Both are located in the Eastern side of the Coachella Valley (Palm Springs Valley and Coachella Valley are synonymous). The City of Palm Springs is the Western side and La Quinta, Indio and Coachella are considered Eastern. The Eastern side of the Valley is much less developed and has a wonderful rural feel. There are many housing developments of course, (See La Quinta, Indio, Thermal and Vista Santa Rosa), but there is also a surreal feel to this side of our Valley.
The two polo clubs, Eldorado and Empire, occupy hundreds of acres of open land. There are approximately 20 playing fields between the two clubs, with each polo field being about the size of 9 football fields! Polo is a huge industry to the Eastern Valley bringing in approx. 1,000 horses each season, some 250 players and their families and grooms. Housing leases and sales occur along with all of our polo visitors..good for our Valley!
The Polo season starts in mid-November and goes through mid-April. Games are played Weds., through Sundays. Practices are Weds., and Thursday, with tournaments being played on Friday, Saturday and Sunday. The game to catch is always the 2 pm game on Sunday. This is the Featured match, complete with announcer, play areas for the kids, champagne half-time divot stomp and sometimes balloon rides! It’s quite a show, and the best thing is that games are often free or perhaps a minimum fee of $5/car for entry.
The Eldorado Polo Club
Eldorado is our older club; 2012 is it’s 55th year of play! The club is open to all, and Sunday tail-gaters are welcome.
Location: 50950 Madison St., Indio
General Information: 760-342-2223
Game Schedule: 760-342-4133
The Empire Polo Club
The Empire Polo Club is adjacent to the Eldorado Polo Club and is owned by the Haagen Family. Started in 1987, new Fields are being added on an annual basis. There are now 9 fields, and a Polo Arena with lights, for night polo games! All games are free and the schedule is the same for both clubs.
The Empire Polo club also hosts many different events. From weddings, to corporate events to sweet 16 celebrations, the club with it’s four different event sites is unique and beautiful. Perhaps the most famous event of the Empire Polo Club is the Coachella Music and Art Festival held for two weekends in April.
Location: Main entrance is on Monroe St. and 51st ave.
General Information: 760-342-2762
Game Schedule: 760-342-9111
Determining Your Target List Price
Calculating your list price is the hardest part of the selling process. There are many factors affecting price that need to be considered. Some of the strongest factors in determining a list price include:
Market Conditions: What is the market like in your area? Is it a buyer’s or seller’s market? What is the average list-to-sale price? These are all questions that need to be answered before you decide on a price.
Location: Is your home in a highly desirable area? Or do you live right next to a noisy highway? Location is one of the biggest factors in determining the list price. If you live in a very highly sought after location, you can probably start a little higher on your price.
Condition of Your Home: Condition is the one pricing factor you have the most control over. If your home is clean and in great shape, you will get more money for it. Plus it will sell much more quickly than other homes in your price range. The quicker your home sells, the closer you will get to your full asking price.
Amenities: What kind of amenities and upgrades do you have in your home? Granite countertops, hardwood floors, and swimming pools, can be very desirable features that will make your home sell faster, and for more money. In some areas, however, these features are considered to be “standard”, so not having them can have the opposite effect on your price. Added amenities can also allow you to ask more for your home, and will be taken into consideration by an agent when they are helping you to determine the price of your home.
Lot Size: How big is your lot? Lot size is a huge factor in determining the price of your home. If you have two identical houses, with one being on a one-acre lot, and the other situated on a three-acre lot, they will sell for very different prices. Remember to check the lot size of comparable houses that have sold in your area.
How quickly do you need to sell: Taking all of this into consideration, determining a fair target list price all comes down to how quickly you need to sell. If you need to move soon, you need to be very aggressive. Your home will need to be the best home at the best price in your price range.
Because of the changing nature of real estate, an agent is vital in helping you determine your asking price. If your price is too high, your home won’t sell, or may take a long time to sell. If it’s too low, you’ll lose out on valuable earned equity.
When determining a fair asking price, a realtor offers the advantage of an outsider’s point of view. Understanding that such factors as original purchase price, over-improvements, owner’s need for money, and owner’s personal attachment to the property shouldn’t be factored into the price, an agent can give you their honest opinion of what price a buyer would be willing to go if purchasing your property.
With all the resources to evaluate comparable home sales, a realtor can help you determine a target price that will catch attention, but still leave room for negotiation.
Article provided by Jolenta Averill a Madison real estate agent. If you’re interested in learning more about Jolenta, you can research her by visiting her Madison real estate blog or searching homes for sale in Madison on her website.
La Quinta Home Sales Interest increasing with International Film Festival..
La Quinta Home Sales interest is increasing with the increasing attendance at the International Film Festival. The Film Festival is a yearly event, that is growing every single year. More celebrities of a very high caliber are making the decision to participate and Palm Springs is once again, on the map with regards to Hollywood! 2012 will see the likes of George Clooney, and Brad Pitt walking it’s red carpets. Entertainment TV will be covering their every move and for our Valley, this all points to more interest in Buying a Home here!
La Quinta’s homes for sale have always been popular with Celebrities. The La Quinta Resort & Club is a very popular place to stay during both the Film Festival and also the Coachella Music Festival. Rooms are booked way in advance, and after one season in beautiful, warm, La Quinta, people consider purchasing a second home here. Palm Springs Homes are also very popular. People that want to be right in Palm Springs proper with all it’s History, charm and older estate homes, find Palm Springs perfect for that winter home.
The Film Festival draws a huge crowd and we “desert rats” welcome them all with open arms! Come on out and see what the excitment is all about!
La Quinta Real Estate, 2012..a good year??
La Quinta Real Estate, 2012..a good year?? A good year..that is going to be very different for each person asking the question. La Quinta Real Estate in general has withstood the decline in property prices, and in many areas and specific developments is actually seeing a slight increase in the price/sf! What??
1. Entry Level Homes: 2012 will see a continuance of high volumne sales in this market. Entry Level in La Quinta is approximately $200,000 and under. Homes in this price point moved heavily all through 2011 and should continue the trend through 2012. With a great school district, solid City management and reserves, proximity to upscale Hotels, Golf Courses, Resort amenities and Old Town La Quinta, there isn’t much not to like. Just add in the views, and you can see why this market is sizzling. Investors, Flippers, first time home buyers and families that have been waiting to purchase when prices dropped will continue to jump into this market.
2. Gated Communities: Gated Communities in La Quinta are very popular. La Quinta is, for many Residents, a resort destination. Canadians, Asians, Europeans, Northern Californians and Beach Owners, prefer to purchase their second homes, and vacation homes in gated communities, which do offer more security for the months the Residents are not in town. Prices in the mid-tier pertain to these communities at about $350,000 – $550,000. There are some less and many more expensive. However, the mid-tier price range of homes will most like move laterally..not going up or down and should continue to sell fairly well.
3. Golf Communities: In the La Quinta and Palm Springs Valley, there are approx. 120 Golf Courses! That means, ALOT of inventory. I believe we will continue to see Private Golf Clubs, changing their pricing structures to encourage part timers and beginning golfers. PGA West has already done this by adding a non-refundable Premier Membership opportunity at $40,000, and The Citrus offers the same at $30,000. This only came into being in 2011, but I believe there will be MANY private Golf Clubs trying to figure out how to entice more golfers to join the Clubs, in a more reasonable way. Home on Golf Courses are selling very well and should continue to do so. Average prices are now at approx. 50% less than they were at the housing peak in 2006.
4. Luxury Properties in La Quinta: I have seen a large increse in the interest and also the Sales numbers in Luxury residences across the Valley. These magnificent homes, in Golf and non-golf communities are selling. I think the Sellers will continue to adjust their prices to attract Buyers and the Luxury home market (1 mil – 3 mil) and the Luxury Market High End, (3.5 mil to 40 mil) will see sales increases in 2012.
I am not a psychic. I am a Realtor that is interacting with Clients on a daily basis and reading every real estate prediction I can find. None of us KNOW what is going to happen. These are my feelings for 2012 La Quinta and Palm Springs Valley real estate trends for 2012.
