Coachella Valley Real Estate By Kimberley, SFR, HAFA, GREEN
Residential, Equestrian, Land
I Do Real Estate The Same Way I Played Polo – To Win!
Coachella Valley Properties By Kimberley, SFR, HAFA, GREEN
Residential, Equestrian, Land
I Do Real Estate The Same Way I Played Polo – To Win!

Coachella Valley

What’s selling in the Coachella Valley???

Sales are slower in the Coachella Valley right now; good time for sellers to carry!

What’s selling in the Coachella Valley???  This is a crazy market right now.  There are so many factors at play in the real estate market right now.  First, the election.  I’ve found during my 23 years of selling Coachella Valley real estate that every 4 years, the market gets stuck.  Why?   Nobody knows for sure, but I think some buyers are waiting to see if there will be tax cuts coming, and they are also waiting to see what happens with the wars.  Then add the economic questions and buyers are tentative.  Add to this the fact that sellers are stubborn about their ask prices.  Sales were so strong the past 2 years in our Coachella valley real estate market that sellers have become very confident.  If you are looking to buy or sell land, ranches, residential, investment property or equestrian property, give local agent, Kim Kelly a call at 760-285-3578.

I am doing alot of showing and educating as to what’s available for sale in different areas of the Coachella Valley.  One fact that remains consistent throughout the different types of real estate opportunities is that a superior product will ALWAYS sell.  Whether it’s a parcel of vacant land, a home in a golf course community, a home on a parcel of land, or a multi acre event site, a product that has a superior location, views, sunlight is going to sell.  The only hitch might be if the sellers are inflexible.  In a strange market where the buyers are watching and not jumping, sellers MUST be open to “creative sales options.”  What does that mean??  It means that sellers should look at ALL offers, even low ones, and be creative with terms.

I’m finding that if my sellers are thoughtful and willing to work with buyers, even difficult properties are still selling in this market.  More of my sellers are willing to carry a note with a good down payment than in a smoking hot market where there are multiple buyers.  Lenders are offering to buy down mortgages to inspire more buyers to write offers, and qualify for loans.  Sellers..be creative and open if you really want to sell!  Enjoy the tour below of a recently sold home at Victoria Falls in Rancho Mirage.  I have more!

 

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La Quinta non-gated communities sales report

La Quinta non-gated communities

Non-gated opportunities in La Quinta include Highland Palms

La Quinta non-gated communities sales report.  Many of my clients do NOT want to live in gated, HOA controlled communities, but rather have more individual freedoms offered by the non-gated communities of La Quinta.  The City of La Quinta is gorgeous, well located at the Eastern side of the Coachella Valley, and offers a museum, parks, fabulous restaurants, incredible hiking, and nearby access to the Coachella Music Festival grounds.  The non-gated communities are Desert Club Estates, the Yucatan, La Quinta Cove, Highland Palms and Flores Montanas.  If you are looking to buy or sell in the La Quinta area, give local resident and realtor, Kim Kelly a call at 760-285-3578.

There are currently three choices if you are looking to NOT pay any HOA’s here in the City of La Quinta, and want to buy in one of the La Quinta non-gated communities.

  1.  Highland Palms:  This small non-gated community in La Quinta, of approx. 90 homes dating from the 50’s to approx. 1995.  Large lots, wide streets, mature landscape, a friendly family feel where neighbors know each other.  There are rental properties, but La Quinta has a minimum of 29 days for rentals.  There is currently one home available in the community for $955,000.  There were 3 sales in the past 6 months, ranging from a fixer that sold for $358,000, and 2 other small homes that closed at $525,000 & $750,000.  Walking distance to Trader Joes, Target, Lowes and LQ Movie Theatres.
  2. Desert Club Estates:  Located at the corner of Washington and Avenue 52, this non-gated La Quinta community is walking distance to Ralphs, restaurants, and Old Town La Quinta.  Large lots, a friendly community and great location!  There are even some new builds in Desert Club Estates.  There are currently 5 homes for sale, but two of them are co-ownership homes..meaning you can own 1/8 of a nice homes for approx. $285,000.  There are 3 other homes for sale ranging from 1.4 to $1.9.  Two homes in escrow currently priced at $580,000 and $799,000 and 6 homes closed over the past 6 months with prices ranging from $580,000 – $1,980,000.
  3. La Quinta Cove:  The historic La Quinta Cove sits in one of the most beautiful coves in the Coachella Valley.  Plenty of inventory in the Cove!  Prices range from approx. $400,000 to approx. 2 mil.  Anything you want, this eclectic community offers.  Hiking, tennis, pickle ball at one of the community parks, views, Old Town La Quinta with it’s restaurants, museum, gas station, post office, and walkable streets.

 

Take a look at this 2 acre estate in the Eastern Coachella Valley listed for $1,299,000. 

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Why use a Buyers Agent??

La Quinta Golf course communities include PGA West.

Why use a Buyers’ Agent??  With the recent legal settlements regarding the NAR, National Real Estate Association, lots of agents are questioning whether or not buyers will still even use agents.  I’ve been selling real estate here in the Coachella Valley for over 20 years.  I’ve lived here in the valley for over 40 years!  I firmly believe that if someone who doesn’t know this valley like I do, but wants to purchase a property here, will still gravitate toward an agent.  I know that I would!  If you are looking to buy or sell in any of the nine desert cities here in the Coachella Valley, give local Realtor, Kim Kelly a call at 760-285-3578.

TOP 5 REASONS TO USE A REALTOR

             1.  Local market knowledge:  A local Realtor provides in depth knowledge on pricing trends, the history of any property you may be considering, tax assessment history, the property history over time, and most importantly, local area knowledge.

2.  Have a negotiator by your side:  Very important, especially when a market is shifting to know what to offer, not just the price, but also the terms.  You don’t want to go in too low as that can piss a seller off and they won’t respond at all.  You certainly don’t want to pay more than necessary either..and the terms are incredibly important.  What is driving that seller to sell?  That’s what a good agent finds out!

3.  Your Agent will help with documents and disclosures:  Man, there is alot of paperwork required to purchase a property, whether it’s residential, investment, vacant land, commercial, or an equestrian property.  Not only the offer docs, but the mounds of California State Disclosures can be overwhelming.  But, your agent can help decipher them and keep them in order.

4.  Your Agent will help you with Inspections..which ones you must have and why:  Depending on which type of property you are buying, there are some critical inspections that you simply do NOT want to skip, and there are others that you may wish to have, but that are not required.  Which to get, how to interpret them, and how to negotiate with the seller.

5.  Agents can make the experience a good time!  I enjoy working with my clients in regards to their purchase as well as what’s available in our beautiful valley.  It’s fun!  My clients and I have a good time looking at properties.  Actually finding them, inspecting them, discussing them, looking carefully at the pros and cons of that particular property, and really looking at whether that one suits what the buyer is looking for.

Buyers Agents and Sellers Agents are generally paid by the seller.  The commission amount is negotiable.  It can be negotiated within the sales price, or it can be added to the sales price.  I like to give net sheets to my sellers (and my buyers) that clearly shows how much commission will be at that price, and which agent receives what.  There is no mystery, and agents have to be paid for their time.  I believe my services support my commission payout!!

 

 

 

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Coachella Valley real estate update

Land and farms for sale in Coachella Valley

Coachella Valley Equestrian estates, land and farms are in demand!

Coachella Valley real estate update:  Everyone wants to know what’s going on in the real estate world here in the Coachella Valley.  Well, there are certain areas of the valley desert real estate sales that are doing very well.  There are also areas of the valley that have been standing still.  Sellers still aren’t feeling driven to sell, unless they are going to leave the area completely.  Coachella Valley sellers are not willing to sell their current properties and perhaps move to a different area of the valley, or to a larger home..why would they??  Mortgage rates are still hovering around 7%.  My own mortgage is 3%, so why in the world would I sell and trade my great rate for a higher one?  If you are looking to buy or sell here in the Coachella Valley, give local Realtor, Kim Kelly a call at 760-285-3578.

Land, ranches and equestrian estates are still in high demand.  In fact, I have buyers waiting for their dream ranch type properties to come up for sale!!  I’m contacting past buyers to see if they may want to sell.  BUT, I also have buyers looking for particular floorplans in a particular development with a particular orientation.  Inventory has increased across our 9 desert cities, but it’s still low.  Most of my ready buyers are cash buyers, or are paying mostly cash and carrying small loans.  Sellers are more willing to carry a note in the hopes that will inspire buyers to write.

CAR housing market update

California home sales remained stagnant in December, according to a report released today by the California Association of Realtors. Existing, single-family home sales totaled 224,000 in December which were flat from November and down 7.1% from December 2022. For the year, statewide home sales were down 24.8%. December home sales remained near the 16-year low reached in November as the sales declined for 2023 and experienced their steepest drop since 2007.

December’s statewide median home price was $819,740, down 0.3% from November and up 6.4% from December 2022.

Orange County median home price in December was $1,300,000, up 14.9% from December 2022.

Riverside County median home price in December was $607,500, up 5.7% from December 2022.

San Diego County median home price in December was $911,500, up 7.2% from December 2022.

“The housing market had a tough year in 2023 as a shortage of homes for sale and high costs of borrowing continued to have a negative impact on housing inventory and demand” said 2024 C.A.R. President Melanie Barker. “With mortgage rates expected to come down in the next 12 months, home sales will bounce back as buyers and sellers return to a more favorable housing market. Home prices should see a moderate increase in 2024 as well.”

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Happy Holidays in the Coachella Valley!

coachella valley real estate

Our popular Coachella Valley real estate market is gearing up for 2024.

Happy Holidays in the Coachella Valley!  We have alot to be grateful for here in our beautiful desert valley.  The insanely beautiful winter weather is here and so are our seasonal residents and visitors.  We did get a deluge of rain last week which completely flooded out the Eldorado Polo Club, as well as many local roads and bridges, but two days later, here comes our sun.  If you are looking to buy or sell a home, land, equestrian property or investment property, give local realtor, Kim Kelly a call at 760-285-3578.

We actually are finishing the year with good news!  The stock market is raging with record highs..good for everyone who has any stocks at all.  Inflation has cooled..and without a recession..who knew??  And for potential buyers, Interest rates for mortgages have come down this year, and many are predicting another drop first Q of 2024.

Home buyers have received a gift to end the year in 2023!  Happy Holidays in the Coachella Valley!  We have seen 6 consecutive weeks of rates dropping and the Fed Meeting this last week decided to pause rate hikes for the 3rd consecutive meeting to end the year. Check out some of the recent stats below.  Home buying in 2024 has just become more affordable.

6 – Consecutive weeks of interest rates dropping to end the year.

3 –  Consecutive Fed meetings which they have decided to pause rate hikes. This is after seeing 11 rate hikes in the 2022-2023 cycle.

3 – Potential rate cuts in 2024 that the fed hinted at in their December meeting.

1.25 – The percent that mortgage rates have dropped on average over the last 2 months. (Courtesy of Walter Neil with Franklin Loans.)

Inventory is still low, and I suspect that it will remain low until Interest rates do  come down nearer to 6%.  It’s really hard for sellers to list their homes if they’re thinking of buying again, when they have really low rates in their current properties, so they are choosing to sit.  But..our season is just beginning and I am already seeing more listings hit the market, so if you are thinking you might be ready to start looking in our Coachella Valley, 2024 could be the year!

This 20 acre farm just closed, but I have more land and equestrian properties, investment opportunities and residential properties for sale..give me a call!

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Coachella Valley Thanksgiving

Modern horse ranch in Coachella for sale!

Coachella Valley Thanksgiving.  The sun is shining, no wind, this day is spectacular.  I’m still swimming and my pool is not heated!  The desert in the winter is perfection.  I always tell my clients that having a winter home here and a summer home anywhere else, that is livin!  As our season starts to wind up, expect the number  of listings to increase..and I mean in all areas of Coachella Valley real estate.  Residential, Land, Equestrian properties, investment opportunities, commercial investments; it’s all ramping up for the 2024 season.  If you are looking to buy or sell in the Coachella Valley, give local realtor and desert resident for 35+ years, Kim Kelly a call at 760-285-3578.

A Coachella Valley Thanksgiving in La Quinta offers plenty to do.  Here’s a calender of events specific to the City, and if you’re thinking of going out to eat in Palm Springs, check it out here first!  If you’re in town and want to check out some property, be sure to reserve a local realtors time as we are all running this weekend.  There will be lots of open houses, but if you want to look at a specific type of property, you definitely need a local realtor that knows the ins and outs of what’s available and also local values for that type of property.  Using a residential agent from Palm Springs to look at Eastern Coachella Valley Land or equestrian estates, is just not smart!  This happened to me two days ago.  I was showing one of my farm listings and the agent had been evasive about what their client was looking for.  When she got there, it became very apparent that she has no experience in the East Valley at all, never mind about land or development opportunities in the Eastern Coachella Valley!  Because the Eastern Coachella Valley is currently drawing lots of interest, you want your agent to be familiar with the area!  Selling houses is VERY different than selling land or commercial opportunities.  Time to be smart when searching for your Coachella Valley Thanksgiving property!  Take a tour of this lovely East Valley 2 acre estate for sale..

 

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JUST SOLD: 20 acre farm, Thermal, CA

20 acre Thermal equestrian farm; just sold!!

JUST SOLD;  20 acre farm, Thermal, CA.  Many times my local farms and owners, whether equestrian or actual farmers, do not want to list their properties on the MLS.  They are running businesses, and don’t want the competition to know what’s up, or perhaps an equestrian business is operating out of the farm, and the sellers don’t want to spook their clients and perhaps cause them to move their horses.  Hey, not everything sells, and a tidal wave of movement could happen for nothing if it doesn’t close.  In this case, this farm was just such a sweet deal.  If you are looking to buy or sell your land, equestrian property, entitled or non-entitled land parcel, or even your commercial development opportunity, give local realtor, Kim Kelly a call at 760-285-3578.

The city of Thermal, as well as our better known eastern valley city of Coachella, is becoming more known to people outside of our little Coachella Valley.  Often I get interested buyers looking for investment opportunities, development opportunities, equestrian farms and just vacant parcels, and I have to really dig to find something to show them!  I’ve been buying and selling land and farms for clients in our Eastern Coachella Valley long before it got “hot.” Consequently, if I can’t find anything listed, sometimes I can located something interesting because I know sellers that may have mentioned they would sell for a certain number, or they’ve mentioned in passing that IF a good buyer came along at “X” amount, they’d let me show the property.  That’s what happened here.  A polo friend mentioned to me that he’d sell if he could net a certain amount.  I brought a buyer, along with my real estate partner, Kate Rust of Wilson-Meade Commercial, and we got the deal done!

If you are looking for a certain special property, and you aren’t familiar with the local market, it pays to contact a local Realtor who works in that area!  I’ve been representing buyers and sellers on residential properties, land and farms as well as investment opportunities for 22 years now.  I’ve lived in the Coachella Valley for 35+ years.  I’ve met alot of people during my years in this valley, and sometimes I can pull a rabbit out of a hat and find something that’s not on the general market.  The property in the video below is active on the MLS, just a few days active now, and it’s another interesting opportunity in the Eastern Coachella valley.  2 acres, surrounded by farm land, private and serene, Pineapple Hill Ranch offers a 1968 4 bed/3 ba Pool home on an elevated lot.  Spectacular views, and only a short 10 minutes to the Thermal Car Club, and HITS showgrounds, and just 20 minutes to the Eldorado Polo Club.  Along with the gorgeous mid century home is a permitted, 6400 sf metal warehouse that is currently used by the sellers as an event site storage warehouse.  A buyer could very possibly get the County to issue a CUP and use it for a wide range of uses.  Buyers need to check with the County, but at $1,332,000, this property is worth a tour!

 

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Thermal Car Club to host Indy all star race in 2024

The Eastern Coachella Valley is booming!

Thermal Car Club to host Indy all star race in 2024.  Pretty big news for our local car racing club.  The Thermal Club is well known here in the eastern Coachella Valley.  According to the LA times article, there is 1 million guaranteed to the winner!  The eastern Coachella Valley is getting more and more attention.  I remember the initial roll out of the Thermal Club.  One of the parties was at the La Quinta Hotel to introduce all of the local realtors to the club and it’s potential amenities in the future.  None of us could believe that ANYONE would go that far east..and here we are.  If you are looking to buy or sell homes, land or farms in the Coachella Valley, give Kim Kelly a call at 760-285-3578.

The million dollar challenge, which is a made for TV exhibition will be held on March 24 and air on NBC.  There will be practice and qualifying the previous two days.  IndyCar at the start of the year tested at the Thermal Club to gauge interest from membership in eventually hosting a race.  The Thermal Club is a 490 acre development that includes four asphalt racetracks located behind an 18 ft. sound wall in the Eastern Coachella Valley.  There will be limited tickets so if you’re interested in getting more info, go to this link from local tv station kesq.

Land in the Coachella Valley has been rising in the past couple of years.  It is still cheap compared to most areas of the country, but the East Valley has always been the least expensive price/acre available in the entire Coachella Valley.  It still is, but it’s gone up.  Now is a good time to buy a piece of land whether it’s to land bank or potentially turn it into an estate home, a car collectors dream, or a high end event site.  All is possible.  Take a tour of this farm that is near the airport.  2 acres w a pool home for just $1,550,000.

 

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Coachella Valley STVR update

Coachella Valley STVR rules are changing for 2023!

Coachella Valley STVR Update:  As most people know, the Vacation Rental business is HUGE pretty much everywhere, but especially in resort locations such as our Coachella Valley.  La Quinta Vacation Rental rules are up for a vote!  If you’re looking to buy or sell Land, Farms or residential, give local realtor, Kim Kelly a call at 760-285-3578.  

La Quinta just voted down the Kelly Slater Wave Park because so many residents did not want it in our Eastern Valley.  Now it’s the Prop A vote that will decide whether or not to limit the number of short term rentals in residential neighborhoods, eventually phasing them out, and limiting them to commercial tourist zoned areas.

Cathedral City voters have approved a referendum to limit short term rentals for 2023.  The city of Palm Springs is also looking to limit the total number of short term vacation rentals to 2500, and they’re almost there.

Even Riverside County has passed an ordinance that residents of the county must register their properties and abide by rules with regards to number of people allowed on the properties for events.

Coming soon in Thermal, CA.

I have a great new listing on a 2 acre property with a mid-century Pool home and stunning Southern views.  A spectacular 6400 sf (permitted) building that could be used for events, large machinery storage, mechanic garage..lots of opportunity.  Coming active soon at $1,850,000!

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Coachella Valley real estate; 2023?

Galloping into 2023 in the Coachella Valley!

Coachella Valley Real Estate; 2023?  Well, things are cooking along here in the desert in 2022.  We generally see a summer heat lull in sales as we just don’t have as many buyers coming in to look, and sellers often wait to list until October or November.  Sales are still happening here of course, and I haven’t seen the price points slipping much..we are still a resort area, so not hit as hard as many other areas.  If you are thinking of buying or selling in the Coachella Valley, give local realtor, Kim Kelly a call at 760-285-3578.

Summary from the CDAR August Real Estate report

PRICES: The August’s median price of a detached home in the Coachella Valley fell to $682,000 from $710,000 last month, but it’s
still up 17.4% year over year. We have entered the seasonal period when home prices usually slow, or even decline, so some of
this decline is seasonal but most we believe represents the general corrective turn that is occurring in home prices everywhere.
The median price for attached homes in August was at $467,500, which is down again from the previous month but up 25.1% year
over year. Year-over-year gains in detached homes are still large and range from 45.9% in Indian Wells to 15.6% in the city of
Coachella. In the attached home market, two cities continue to have gains over 40% – Desert Hot Springs and Bermuda Dunes.
SALES: Home sales have been falling dramatically. The three-month average of sales in August was 674 units a month, which is
lower from a year ago by 31%. The largest declines were again in the cities of La Quinta and Palm Desert, where sales were down
42% and 34% respectively. The cities of Bermuda Dunes, Deseret Hot Springs and Indio experienced much smaller sales declines.
Only the cities of Coachella and Thousand Palms had the same or higher sales numbers.
INVENTORY & “MONTHS OF SALES” RATIOS: On September 1st, Valley inventory was 1,593 units, which is 757 units more than
last year. After surging for three months, inventory has stayed around 1,600 units for the last two months. Some of this is
seasonal, and we expect it to stay at this level for another month or so. Then, if seasonal forces continue, it should start to grow
again, possibly reaching 2,500 units by February. The Valley’s current “months of sales” ratio is 1.9 months, which is the same
ratio as last month. The ratio remains considerably below 3.0 to 3.5 months, which is normal for late-summer.
DIM: At the end of August, the median number of “days in the market” in the Valley was 28 days, which is three days more than
last year. We believe we’ve seen the lows in average selling times and expect this metric to rapidly increase back to 50 or 60 days,
which is normal for the region. The city of Desert Hot Springs continues to have the lowest median selling time for detached
homes at 19 days, followed by Rancho Mirage, Cathedral City and Indian Wells at 23 days. In the attached market, Indio has the
shortest selling time at 11 days, followed by Cathedral City at 18 days.
PRICE DISCOUNTS/PREMIUMS: At the end of August, 36.1% of sales occurred above list. This compares to 51.1% a year ago.
We fully expect that, by the end of the year, the ratio will be back to past norms at around 10%. The cities of Coachella and Desert
Hot Springs have the highest average selling premiums for detached homes at 1.4%, followed by Indian Wells at 1.1%.

Take a tour here of a really great 9+ acre gated, private equestrian estate in Deer Creek, Thermal, CA.  Asking price of $2,995,000, there is a custom adobe home, gorgeous pastures for turnout, plenty of space to add a barn of your dreams, and direct access to Avenue 61 via a private entry.

 

 

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