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, 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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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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There are many reasons why there is such a demand for Palm Springs homes for sale. People fall in love at first sight with this beautiful, charming little town. It’s picturesque, extremely safe and the climate is unrivaled. Those on the verge of retirement flock to Palm Springs to find the perfect piece of this town to call their own, as well as in the surrounding areas—La Quinta real estate and Rancho Mirage real estate properties are also in high demand.
One of the main reasons the region is so popular among retirees is obviously the plethora of amazing golf communities and wide range of recreational activities. People strive to find Palm Springs homes for sale based on the selection of outdoor activities alone. With sunny weather all year long, you can immerse yourself in your favorite sport, polish your technique and become an expert at your hobbies. Tennis aficionados, hikers, cyclists and golfers find heaven in Coachella Valley.
Even if you aren’t into golf or other outdoor activities, there is still plenty to do for those with extra time on their hands. Palm Springs is a conference town, so there is always something interesting going on, from the Palm Springs International Film Festival and The Biker Weekend in September, to the People Who Dance New Year’s Dance Competition. For those reasons alone, many retirees clamor for Rancho Mirage real estate properties or homes in other areas of close proximity.
The shopping options in the area are pretty amazing as well. There are tons of antique stores filled with unique, hard-to-find items, as well as posh fashion boutiques, mid-century modern retailers and consignment dealers. There are also many great art galleries and centers, such as the Backstreet Art District, which consists of a dozen artist-owned galleries and working studios featuring incredible collections of contemporary art by nationally and internationally recognized artists.
In addition, nearby Cabazon is home to some of California’s most renowned fashion outlets, including Desert Hills Premium Outlets and Cabazon outlets, a feature that benefits residents in the entire, including owners of Indio, Indian Wells, Palm Desert and La Quinta real estate properties.
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The beautiful gates of Desert Horizons Country Club.
This lovely free standing Doral floor plan is truly special, and it’s location may just be one of THE premier sites at Desert Horizons Country Club. 75483 14th Green Dr., listed at $850,000, perches at the end of a cul-de-sac with that very rare vantage point of the “T” of two fairways. The Eastern, gated sideyard, features a long reflective pool, and fairway view over the 10th to the Chocolate mountains.
Once you walk through the Entry gates, under the covered porch on the beautiful East side, you REALLY see the magic of this home..the Southern backyard. A swimmer’s pool with stacked stone spa and water feature overlook the 14th Green, to sparkling lakes and to the Santa Rosa Mountains. An amazing location!
This is the original home of one of the developers of Desert Horizons CC and they chose this site specifically. The home has been slightly modified with interior door heights of 7 ft. and the exterior wall was pushed out 4 ft. or so to increase the expansive feeling of the home. Approx. 3130 sf with 3 beds/3baths + an additional Den/office with a fireplace. Enter the front door to a great room with soaring ceilings, a dual-sided fireplace, step down wet bar and formal dining area. The kitchen was remodeled in 2008, as was the floor, granite and new pool equipment was installed. This Indian Wells luxury home needs some updating, but with this location? Wow..so worth it!
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If you’re an international buyer, get local help!
There are many areas in the Coachella Valley that are worth considering, from Rancho Mirage real estate and posh areas such as Bermuda Dunes, to Indio, Indian Wells and Palm Desert real estate properties. Once you’ve determined the exact area you’re most interested in, the next and most important step is to find a real estate professional such as a listing agent or a short sale realtor with expertise in the markets you want to explore.
Working with a local professional is important for many reasons. They’ll be able to advise you on property, tax and title laws, as they are entirely different in each country. A specialist with expertise in the area can also provide information regarding the cost of living, local industries, and market fluctuation. In addition, they’ll be privy to the latest and most desirable listings among Rancho Mirage real estate and other areas, and have insider knowledge on the best dining options, shopping and local recreational activities.
When you’re interested in purchasing international real estate, make sure to choose a short sale realtor or other real estate professional with extensive, long-term knowledge of the area you’re most drawn to. They’ll help you find the most amazing Palm Springs homes for sale and make the purchase of your second home or holiday respite a smooth transaction that is as stress-free as possible.
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Here are some great tips to help you save money to purchase some real estate!Ask any real estate agent or short sale realtor and they’ll tell you that many first-time buyers are most nervous about the down payment they need to make on their first home. While some mortgage lenders offer different information, with a traditional mortgage, 20 percent of the purchase price is typically what is required. Whether buyers are interested in Indio real estate, Rancho Mirage Real Estate or even a property on the east coast, the best possible interest rates will be yielded with a significant down payment, such as 20 percent. The question is, how do you save up for this substantial purchase?
For most first-time buyers, a 20 percent down payment is daunting. A home worth $400,000 translates to an $80,000 down payment. For example, those searching Rancho Mirage real estate properties for a three bedroom home could be looking at much more than that. However, keep in mind that the advantage of making a sizeable down payment is that you’ll have instant equity in your home.
For first-time buyers, there are several things you can do to increase the resources available to you. Many short sale realtors work with buyers who borrow against their 401k investment funds to help finance a new home purchase. In addition, some IRA accounts offer a provision for withdrawals for buyers purchasing their first home. Check with your bank or money manager to find out if either of these options might work for you.
If you are currently saving money for that down payment on your dream home, make sure that you’re getting the most bang for your buck. This means putting your money in a high-yield account, such as a money market account. You can also invest your savings into a certificate of deposit (CD), though it may offer less flexibility and liquidity. Look for a high APY and do what you think will be reasonable for your lifestyle in terms of saving and not being able to access those funds without penalty.
Whether you’re searching for Indio real estate properties, another area in the Palm Springs Valley or an entirely different region, it’s important to educate yourself on the best ways to invest your money and how to get the best price on your dream house. Good luck on this life-changing step!
Image Source: www.apartmentsetc.com
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The Movie Colony is home to some great historic Palm Springs homes for sale!
Likewise, when owners list Palm Springs homes for sale, often times, they are thrilled to discover that the neighborhood itself boosts their asking price. Studies have shown that home values rise significantly in historic districts, from between 5 and 30 percent per decade. While the posh areas of Coachella Valley offer a wide-ranging selection, from modern options in Palm Desert and La Quinta real estate properties to the country club vibe found in Indian Wells real estate, some find that living in a neighborhood where Marilyn Monroe, Frank Sinatra or Cary Grant once resided holds a special allure.
When a neighborhood is designated as historic, it help ensure that your real estate investment will be protected over time, as there are explicit design limits on demolitions and exterior remodeling that doesn’t fit in with the character of the neighborhood. The goal of the historic designation is to foster an improved image of the community; this extends to protecting the area against specific threats of development that are not in line with this image, while encouraging reinvestment and development that is cohesive with the community as a whole.
When there is reinvestment and positive development in any area, whether it’s among Indian Wells real estate or a historic neighborhood in Palm Springs, this can only have a positive effect on the cumulative value of the properties in the area. So while you may not be searching for a historic designation, make sure to assess the neighborhood as a whole when you’re buying a new property.
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