Buyers

Favorite Buyer Upgrades include personal wellness choices!

Favorite Buyer Upgrades:  We are lucky that we live in the Coachella Valley.  Home to many Wellness features and most of them occur naturally!  Our beautiful environment with it’s may open spaces, such as Joshua Tree Park, spectacular hiking areas, biking trails, horseback riding trails, all easily accessible to those of us living here.  Just so happens that Wellness attributes are one of the favorite Buyer Upgrades that are being chosen by buyers here in the Coachella Valley.  Local resident/agent, Kim Kelly at 760-285-3578.

In the photo above, the owners added a bocce ball court because for them, they had social games with their friends and played in a league.  The new owners are converting the bocce ball court into a pickle ball court because for their own wellness, that made sense to them!  Some of the Wellness upgrades that buyers are making, or looking for in their new homes are Circadian lighting systems, air and water purification systems, homes built with non toxic materials, and of course personal saunas, plunge pools and tubs and sound proof areas in their home for meditation.

Smart homes are getting alot of attention too.  The ability to adjust lighting, temperature, music, pool systems, and other things, and activated by voice, is getting alot of attention from buyers.  Off the grid, or solar and battery back ups for power is also in high demand.  For Sellers, it might be worth your time to invest in some of these wellness items.

Buyers in the Coachella Valley are in a great position!

If I was a buyer in the Coachella Valley.  What a great time to be looking for a property in the Coachella Valley.  If you’re looking for a farm, vacant land, residential property or a vacation rental, it’s a buyers market.  Local resident, equestrian and realtor, Kim Kelly will give you an honest evaluation as a buyer or seller.  760-285-3578.

If you are looking for a property to buy in the Coachella Valley, now is a good time to focus!  The key is to REALLY know what you want.  If you are looking for a particular community, stay focused on that community.  If you are just looking at a particular area of the valley, broaden your boundaries so you keep up with what’s moving and available in that particular area.  It is critical that you and your agent really stay on top of what’s active now, and when a new property comes available, get there quick.  It’s not that there is a ton of competition, BUT if you are looking for a particular property and something comes up that fits your requirements, go look at it!

I am telling all my sellers to respond to any offer.  Don’t get offended.  The buyer pool is small, and even if you get an offer and even open escrow, buyers are shaky.  Make it easy for your buyers, set your emotions aside, and get over it.  You, as the seller NEVER have to take an offer.  If you simply cannot come to terms because the buyer will not come up to your number, well so be it.  Wait for another buyer.  Therein is the hitch.  Be sure you have more interest because right now, buyers do have some power IF a seller is serious about selling.

I am also telling my buyers..I do not KNOW if a particular number is going to work, if the value is going to fall, what the future holds.  I do know that if you love it, have a good loan, or cash, plan to hold it for 5 years or so, odds are good you’ll be happy with your purchase!  Take a look at this 4 acre property in Bermuda Dunes with a ranch style pool home in an incredible location.  Off market at this time, but sellers are more motivated now than last season.  This property  was listed at $2,799,000, but sellers are looking for an offer!!

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! 

Buyers are golden here in the Coachella Valley.

Buyers are golden.  Yes, I believe in climate change, and I also am seeing the climate change in regards to real estate here in the Coachella Valley.  Sellers are struggling to understand the changing climate, but if you have an interested buyer, don’t let them go.  Buyers are golden in this changing climate.  If you are looking to buy or sell in the Coachella valley, give me a call at 760-285-3578.

This aint 2022!  Forget about what your neighbor got for their house of the exact same floorplan, same view, same upgrades.  You’ll still sell your home, BUT, you will most likely get less money for it.  Remember Mr. Seller, it is also frustrating for your agent.  We are still marketing, we are still showing, we may even be delivering offers.  The sellers must not get stubborn or insulted.  Just be patient.  There will be a buyer, but you need to be flexible on the price/terms and you’re going to net less than you would have even a year ago.  Take a tour of this gorgeous custom home of approx. 2400 sf, 3 bed/2.5 bath santa fe style home on a corner lot in the La Quinta Cove.  Offered unfurnished for $874,500

The road to Foreclosure???

Are Foreclosures coming back?  I’ve received several calls from clients that think they’ve spotted foreclosures and want help buying them.  When I checked, the two properties in questions had gone through foreclosure, been sold, and may appear for sale to the public at some point.  Is this a foreclosure pattern?  I have to say that after 25 years in the real estate industry in the Coachella Valley, having done hundreds of short sales after the crash in 2007, I am not experiencing this.  If you are looking to buy or sell here in the Coachella Valley, give Kim a call at 760-285-3578.

I really hope we aren’t going to get another wave of foreclosures, but none of us know for sure what’s up.  I follow the foreclosure websites, but haven’t found them to be very accurate.  I myself have seen just 2 properties over the past couple of weeks, one a condo in PS, one a 10 acre abandoned date farm in Thermal.

Because buyers have had to come up with the standard 3% down for FHA, and a conventional loan for 20% down, they have some skin in the game and aren’t carrying bad notes as they did in the past crash, “The Big Short”, if you will.  Good movie by the way.

The potential problem I am thinking may happen is that many people have tremendous amounts of equity in their properties.  If times get tough, finances get squeezed, it seems to me that more and more people will be tapping into their home equity.  This could for sure contribute to people having to walk away.  Which of us knows what’s in the future?  NONE of us.  Take a tour of this lovely Santa Fe style home, located on an over sized corner parcel in the La Quinta Cove.  2375 sf with 3 beds/2.5 baths/pool & spa/fully fenced lot, saltillo tile floors, vaulted ceilings, $874,500. 

What’s the use of a Buyers Agent????

Buyers Agent:  Do I need one?  With , and all the rumors swirling around about the lawsuit against the NAR (National Association of Realtors), I’m trying to keep on top of changes, new documents, and procedures.  I’ve been doing this for 23 years in the Coachella Valley, representing both buyers and sellers.  I pride myself on keeping on top of changes, understanding the consequences and performing to the highest level for my clients.  My thoughts are below.  If you are looking to buy or sell property in the Coachella Valley, give Kim Kelly a call at 760-285-3578.

Why would you use a Buyers Agent????

• I think the number 1 reason is to capitalize on their knowledge of the local market.  I’ve lived in the Coachella Valley for 40 years, and been in real estate here for 23 years.  I KNOW this valley.  I have represented buyers and sellers from the West side cities of Palm Springs and Cathedral City, central valley cites of Rancho Mirage, Indian Wells, Palm Desert and La Quinta to the Eastern cities of Indio, Bermuda Dunes, Coachella and Thermal.  It is critical as a successful local agent to KNOW the inventory!  Golf course, non golf course homes, 55+ options, multi acre options, investment opportunities, land opportunities.  My experience is a HUGE reason my buyers turn to me for advice.
• The second reason is because a local agent with experience should be really good at negotiating.  If you give the sellers this, what do you as the buyer receive?  What is the most important thing you cannot live without in the property search?  What is the least important?  I save my buyers hours of computer work, and questions about locations, cities and communities, and that’s BEFORE we even write a contract!
• How much do I cost?  That’s negotiable.  It used to be negotiable when I met the sellers in a listing agreement.  The sellers are no longer able to offer buy side compensation.  But I don’t work for free, do you?  Remember that EVERYTHING is negotiable.  The price, how agents get paid, repairs, seller credits at close, furniture, I’ve even negotiated farm animals into deals!
• Can you skip the buyers agent and go directly to the seller?  Of course you can, as you’ve always been able to in the past. Remember:  The sellers agent works for the SELLER.  The buyers agent works for the BUYER.  Their allegiance is to you, the buyer.  The List price is a starting point.  It’s your agents job to negotiate and get you the best deal on the Sales price, close costs, commission, and repairs..everything you can think of is negotiable.  Think on that.  The tour below is of a 2 acre farm that I have in escrow.  My listing, but we did indeed negotiate the buyers commission in the final sales price..it was just ONE of our negotiable points to get it done!

Do you need an agent to help you?

Buyer representation or not?  This question is going to need to be answered by every real estate buyer who is looking to purchase a property from here on out.  We agents are now required to get our prospective buyers to sign a “Buyer’s Representation Agreement”, and we must list every address of every property that we tour with the prospective buyers.  As a long time agent, I work with both buyers and sellers, and feel pretty confident that I’ll be able to answer my clients’ questions!  Local resident and agent, Kim Kelly, is available to answer your questions!  760-285-3578.

Buyer’s Agent Agreement Defined

A buyer’s agent agreement is a contract between a home buyer and a real estate agent that defines how the two agree to work together. And that’s it! While an agent typically is the one who requests a buyer’s agent agreement, it’s meant to set expectations and protect both agent and buyer in case one party doesn’t hold up their end of the deal.

Think about it this way: If you were shopping at a store and a sales associate really took the time to help you find exactly what you were looking for, then they earned the commission for your sale. Well, let’s say after all the sales associate’s hard work, a different one swoops in right at the close, rings you up, and takes the first associate’s commission. Not okay, right? That’s the kind of funny business a buyer’s agent agreement protects a real estate agent from.

Likewise, if the sales associate you’re working with ends up doing an awful job, you’ll want to be able to find a better associate, maybe even a better store. Well, if the right conditions are outlined in a buyer’s agent agreement, that’s exactly what it empowers home buyers to do.

But before you sign anything, you need to make sure the right conditions are outlined—that’s the only way the buyer’s agent agreement will work for you. So how do you know good conditions versus bad ones?  The right conditions are:

1.  What does the buyers agent do for you..the buyer?  This is where we, the agent, need to explain our value.  Most buyers have no idea how much time and effort goes into narrowing the search to properties that fit their criteria.  I’ve got 23 years experience in our Coachella Valley.  I am very familiar with the various communities in our desert cities.  That’s worth alot!
2. How do I, as your agent, get paid?  The buyer agreement breaks this down.  The buyer pays my commission in the agreement.  Remember that commission is negotiable.  Even if you agree to pay this commission, it’s my job to negotiate with the seller to get you the best purchase price and terms.  Let me do my job!
3. Length of contract.  You can start with a shorter term to try out your agent, then give them a longer term if you are satisfied with them.

Bottom line:  I think a buyer DOES need an agent working on their behalf.  If I were buying in an area I did not know, I’d certainly hire one to help me.