Many market analysts advise that if you didn’t buy real estate in 2013, you shouldn’t wait much longer or you may just be kicking yourself. Whether you’re interested in Rancho Mirage real estate or the luxury international real estate market, 2014 is most likely the year to buy. According to Standard & Poor’s/Case-Shiller 20-city home price index dated December 31, during the last 12 month period, on average, real estate prices in the housing market climbed more than 13.5 percent,
It makes sense that industry experts are advising buyers to make their move this year. Not only do 2013 numbers reflect the trend toward a seller’s market, market forecasts predict that this year will show gains for the real estate market again. While the fast pace of sales seems to slow down a bit in the fourth quarter, it doesn’t mean it’s time to slow down your house hunting activities and search for Rancho Mirage real estate, especially if you’re serious.
Several analysts forecasted that prices on homes will rise approximately five percent during 2014. We’re also starting to see mortgage rates rise, which may slow down the pace of sales a bit, though not entirely. On a 30-year mortgage, the rates are expected to rise to five percent by the end of 2014—they are currently at 4.5 percent. For most, that climb is not enough to outweigh the benefits of ownership, such as building equity and significant tax benefits, especially for first time buyers,
Whether you’re buying a first home, looking for a vacation home in a resort area or thinking about investing in luxury international real estate, if you want to get the most bang for your buck and be in the best possible situation to negotiate, start your search and get your financial horse in order now. It’s the perfect New Year’s resolution.
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A neighborhood that stands out among the rest is The Mesa in Palm Springs. It’s a community you don’t want to miss if you’re on the hunt for Palm Springs homes for sale. A rich history combined with a secluded location provides an exclusive setting to enjoy the best lifestyle available. With homes from Mid-Century Modern and Contemporary to Spanish and Mediterranean, The Mesa provides something for everyone in the market for a new home in an exclusive, upscale community.
The Mesa was founded by Edmond Fulford, a successful businessman from Los Angeles with a vision of building an exclusive community of luxury properties in a secluded area of Palm Springs that was unique and protected from the desert winds. He discovered the perfect place on the lowest hills of the San Jacinto Mountains and established The Mesa in Palm Springs there.
Located on the east flank of the rugged yet stunning Tahquitz Canyon, The Mesa is ideal for those searching for Palm Springs homes for sale situated in an region of vast natural beauty. The rolling hills, winding roads and rich Indian folklore give the area an authentic mystique that is unparalleled. The homes in The Mesa represent a broad range of eclectic and innovative architectural styles that result in a diverse and beautiful neighborhood. The friendly residents form a close-knit community, with wide-ranging occupations and interests that make it a vibrant and dynamic place to live. People ride their bikes and walk throughout the community, to run errands or simply to enjoy the lovely weather and awe-inspiring setting. In addition, located in the foothills of The Mesa is the Moorten Botanical Garden, a remarkable oasis of native plants.
Click here if you are interested in viewing listings of luxury properties in Palm Springs, including The Mesa in Palm Springs.
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La Quinta Hotel & Spa
When people think of the Palm Springs Valley, or Palm Springs in general, they have this idea that there is just one city… Palm Springs. The city of Palm Springs is a fantastic choice if you’re looking for a more westerly city to buy your seasonal property in, or if you’re looking to be within walking distance of some of the most fashionable and hip hotels, restaurants, and boutiques.
When I first speak to people that are interested in purchasing a property in Palm Springs, Canadians especially, I generally have to educate them about the scope of the entire Palm Springs Valley. Each city is unique in its location , it’s amenities, demographics , and general “vibe.” Our more central cities of Rancho Mirage, Palm Desert, and Indian Wells, are very appealing to people that want to be in the middle of the mix in the Valley. There’s a whole tribe of buyers ever, that find the more open spaces of our Eastern Valley right on target . These buyers are often surprised to find just how much La Quinta has to offer .
The city of La Quinta is called the “gem of the desert. It’s Western border is the city of Indian Wells, and its eastern border is the city of Indio, or Coachella. Because the land is more plentiful and open for development, it makes sense that during the boom years there was a tremendous amount of building. Of course that was followed by the crash which freed up many of these properties at ridiculously low prices/square foot. La Quinta has seen an annual appreciation over the past year of approximately 20%. Properties are quite stable in the East Valley now, inventory levels are beginning to rise , but as with most of the Valley, it has slowly become a sellers’ market . The city of La Quinta is young , very artsy, has an open, almost rural feel to it , and many of the structures are newer. The La Quinta Hotel and Spa of course, is what the city of La Quinta is founded on , so La Quinta to has its share of the Valley history. Old Town La Quinta, offers walkable streets with restaurants, shops and art , along with weekly farmers’ markets and entertainment. La Quinta has so much to offer on its own, and remember, it’s only a half-hour drive to the Palm Springs Airport and central Palm Springs!
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If you have been looking for a single-family residence at the Indian palms country club in Indio California, be sure to include this gorgeous bungalow style home, on one of the premier sites in the club. 82272 Shirley Cir. is beautifully maintained, and boasts one of the best locations and views you will find in the club… Particularly for under $300,000!!
82272 Shirley circle was built in 2001, is approximately 1700 ft.², and offers three bedrooms two bathrooms, a quiet cul-de-sac location , mature landscaping including citrus trees and roses , and a recently updated saltwater pool and spa. The lot is over 10,000 ft.² and faces West, For amazing sun and views , and is completely enclosed. The unobstructed golf course view allows your eyes to travel all the way up the fairway to the chocolate Mountains .
The inside of the home features an open floor plan, a large kitchen island, new appliances , plantation shutters, custom Saltillo tile floors and fireplace surround , new paint both inside and out, and with multiple windows and sliders , the interior of the home is bathed in light . This home is unique and desirable in terms of an investment , and charming and warm in terms of a primary or vacation home . Come out and see the home for yourself on Sunday November 17 from 1 to 4 PM .
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Whether you’re selling a first home, buying your dream home or getting into the international real estate market for investment purposes, there are some common mistakes to avoid if you want to execute a transaction that makes financial sense.
Unrealistic expectations. Let’s say you find the La Quinta ranch you’ve been dreaming of and you qualify for a loan—does that really mean that you can afford it? Don’t make the decision to buy real estate just because a lender pre-qualifies you. Do the numbers and determine if you can truly afford all the associated costs, from closing costs and homeowners insurance to upgrades and HOA fees, if applicable. Then create a budget that truly reflects all of your bills and leaves room for a contingency fund and the amortization of a new home. Only then will you be able to determine if you can actually afford the property.
Want vs. Need. Let’s be real—there can be a huge discrepancy between what you need and what your dream home costs. Make a list of all your family’s needs and then look for a house that fulfills them. Give your agent or realtor a copy of the list. The same goes even if you’re investing in the international real estate market—even if you don’t plan on living on the property, you will have certain needs in regards to budget, maintenance and location.
Only visiting once. If you’re ready to spend your hard-earned money on a La Quinta ranch, don’t just visit once. You should schedule several visits to the home before you make an offer, and get professional opinions, if necessary. Buying real estate and living is similar to a relationship—and you wouldn’t get married after just one date. You’ll want to get a good feel for the community, the school system, the commute and anything else that is important to your lifestyle.
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As many of us already know, buying your first home can be a complex and stressful process, whether you’re buying a beach condo, cabin in the mountains, or Indian Wells real estate. While it can definitely be intimidating, if you arm yourself with the right information, the entire process will become much easier, from negotiating prices to obtaining a mortgage. Before you start looking at Palm Springs homes for sale, gather as much information as possible, because when it comes to buying real estate, the old adage is true, knowledge is power.
Many first-time homebuyers find themselves in over their heads when it comes to securing a quality mortgage loan. Rather than focusing on the interest rate, make sure you’re paying attention to the actual cost of the loan, at present and what it will be in the future. Often times, it makes the most sense to have an attorney review the paperwork for you. Either way, make sure that you read the paperwork and all its fine print. If the interest rate is below market rates, make sure to inspect the contracts thoroughly—chances are that rate may only be guaranteed for a certain amount of time. No matter what, be certain that you are clear on what your responsibilities and rights are before signing anything.
When it comes to buying property, all homebuyers have their own unique situation and set of circumstances that the lender should take into consideration. Perhaps you only want to live in your new house for a few years, and then plan to take another step up. If so, a variable rate mortgage may be your best bet. Or maybe you’re looking at Palm Springs homes for sale purely for investment purposes, or you plan to live there for 20 years—if this is the case, then the stable monthly payment that a fixed rate mortgage provides may be the right choice for you. The bottom line—get all the information you can, so you can do what’s best for your situation.
Click here to browse listings of Indian Well real estate and the surrounding areas.
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Purchase money to Rental income..
I’ve been reading about these large investment groups, Blackstone, Colony Capital, and others and wondering if we’d see them here in the La Quinta or Palm Springs Valley area..well here they are! This morning on the MLS, the La Quinta Cove recorded about 40 sales..and were they under-valued! I checked property histories and TAx records..sure enough. Block purchases and sales.
Investment groups, Hedge Funders..all buying blocks of homes for huge amounts of cash, cleaning them up cosmetically and renting them! Good or bad? Both I think..
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OPEN HOUSE today, April 20 from 12-3 pm!
Today, Saturday, April 20 from 12-3 pm at 40389 Calle Estela. This home is offered for $575,000 and offers one of the premier locations at Sun City, Shadow Hills in Indio, CA. Amazing Western mountain views over a double fairway PLUS the driving range. The views are stellar, but the privacy is a true surprise in this 55+ community for active adults.
No neighbors close enough to bug you, and the peace, serenity and quiet are why a buyer would choose this particular location. Calle Estela is one of the premier streets in Sun City, Shadow Hills and it’s easy to see why. Come on out to our Open House and see for yourself!
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If you’ve been debating buying a second home or are thinking about an international real estate investment, the timing may just be right for you now. If you talk to a real estate agent or realtor, they’ll probably let you know that the vacation-home market is heating up again.
It makes sense that the market is showing signs of life again. Many buyers are seeking properties in far away destinations, as well as those that are a more manageable distance from home. For example, many Angelenos are pursuing Palm Desert real estate and other areas in the region, such as Indio, Indian Wells and Rancho Mirage. Likewise, many international buyers are also targeting the highly desirable Palm Springs Valley as the location of their vacation or second home. Either way, the Palm Springs Valley is highly desirable because of its recreational activities, gorgeous year-round atmosphere and laid back lifestyle that makes it seem like you’re on vacation all year long when you live there.
Due to low rates, bargain prices and dwindling home inventories, sales of vacation properties in the United States rose seven percent in 2011, according to the National Association of Realtors (NAR). Both listing agents and short sale realtors say that many buyers are snapping up homes to take advantage of low mortgage rates, even though there may be some potential for prices to drop further.
Keep in mind that the bottom for prices on vacation homes will only be apparent in retrospect—but look for signs that they are on the horizon. If you are searching Palm Desert real estate properties for your vacation home, assess the specific market, as well as the Palm Springs market as a whole, to see if some areas in the market are showing price increases. While some markets in Arizona, for example, are showing declines, many markets in California are continuing to rise on price.
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If you’ve been debating buying a second home, the timing may just be right for you now. If you’ve been talking to a real estate agent or short sale realtor, they’ve probably let you know that the vacation-home market is starting to heat up again.
It makes sense that the market is showing signs of life again, as lower prices are pushing buyers off the fence. Buyers are looking for properties in far away destinations, as well as those that are a more manageable distance from home. For example, many Angelenos are pursuing Palm Desert real estate and other areas in the region, such as Indio, Indian Wells and Rancho Mirage. Likewise, many international buyers are also targeting the highly desirable Palm Springs Valley as the location of their vacation or second home.
Due to low rates, bargain prices and dwindling home inventories, sales of vacation properties in the United States rose 7% in 2011, according to the National Association of Realtors (NAR). Both listing agents and short sale realtors say that many buyers are snapping up homes to take advantage of low mortgage rates, even though there may be some potential for prices to drop further.
Keep in mind that the bottom for prices on vacation homes will only be apparent in retrospect—but look for signs that they are on the horizon. If you are searching Palm Desert real estate properties for your vacation home, assess the specific market, as well as the Palm Springs market as a whole, to see if some areas in the market are showing price increases. While some markets in Arizona, for example, are showing declines, many markets in California are rising in price.
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