Are you ready to buy a home? Whether you’re interested in homes for sale in La Quinta, equestrian ranches or a condo in a big city, there are a few things you should do to prepare your budget so you can start your search armed with your financial boundaries. Read on for three excellent tips for getting your financial house in order.
1. Clean up your credit. There are three major credit agencies that maintain records for everyone: Equifax, Experian and TransUnion. They will show all of your credit card balances, indicate if you are ever late on payments or if you have any defaults or judgments on your record. Negative information on your report will in turn lower your credit score, which will ultimately affect your interest rates and access to financing options. Obtain a regular credit monitoring service and get a credit report as soon as possible. Scour it for any errors and dispute anything that you can, as errors do happen. Try to pay down all your credit cards as much as possible as you prepare to buy a house.
2. Determine what you can afford. A great way to determine your budget is to get pre-approved by a lender. They will assess your income to debt ratio, as well as your credit, to figure out the type of loan you can afford. Experts say that your monthly payments should not exceed 26 percent of your gross income—you should also factor in the kind of debt you have as well.
3. Save for the down payment. Whether you’re looking at homes for sale in La Quinta or equestrian ranches in another part of the valley, you’re going to need to come up with a strong down payment. The basic rule of thumb is that lenders are looking for 20 percent of the purchase price as a down payment. While there are some agencies that will let you make a smaller down payment if you qualify, it’s really best to aim for 20 percent, so that your monthly payments are lower and you have greater equity from the get-go.
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Real estate transactions can be daunting for anyone, let alone first time home buyers. Whether you’re considering a bungalow in a beach city, a loft in downtown Los Angeles or a beautiful piece of Indio real estate, there are some standard strategies for planning and saving that anyone can benefit from.
Traditionally, buyers were required to place a down payment that equaled 20% of the purchase price. We saw some very extreme exceptions over the last decade, which ultimately led to the market crash. While some lenders still make it possible to avoid high down payments, the wisest strategy truly is to try to save as significant a down payment as possible, as well as a contingency fund for emergencies. For example, if you’re interested in equestrian properties, there are a lot of additional elements and potential situations that would require you to have an emergency fund, so that you don’t get in over your head.
While it’s important to get advice from an expert regarding your particular situation, the most commonly recommended number is 20%. At that number, many lenders do not require the purchase of Private Mortgage Insurance (PMI), which is an additional cost that protects the lender in case of default. While the number seems lofty, it is safest to work within a range that is comfortable for you financially, and most advisors say that a house may be out of your means if you can’t save up 20% of it. That dream house in the suburbs or that beautiful piece of Indio real estate will require additional funds for maintenance and upkeep, so always make sure to factor those expenses into your family budget.
The benefit of a sizeable down payment such as 20 percent is that it creates instant equity in your home, which can be very valuable to you financially in the long run, especially if you decide to sell the property in the future. However, the 20 percent figure isn’t a diehard rule. Sometimes you may be able to find lenders that will work with you for less, but it’s probably best to not go too low. If you’ve fallen in love with that mansion in the desert or are considering equestrian properties that may be out of your range, make sure to get a reality check from a real estate professional or financial advisor who can help you develop a practical plan within your means.
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August is coming to a close very soon, but there are still some great ways to enjoy some summer fun in Palm Springs. If you’re in town to look at equestrian ranches in Indio, homes for sale in La Quinta or real estate in another part of Palm Springs, you’ll bear witness to the fact that there is always something going on in this vibrant community. Whether you want to relax by the pool, play a round of golf, listen to music or hike in a stunning natural setting, you can find exactly what you’re looking for in the amazing desert cities.
On Friday, August 22 from 9 to 11 pm, Sara Evans will perform at the Morongo Casino. Ms. Evans is a popular country singer and songwriter with one gold and three platinum albums under her belt. She has won a Billboard award, a Dove Award and awards from both the Academy of Country Music and the Country Music Association. The Morongo Casino is located at 49500 Seminole Drive in Cabazon.
On Saturday, August 23 from 8 to 10 pm, the Spotlight 29 Casino will host a performance of The Who Show. The performers are considered the longest running, most popular tribute band to The Who. The Spotlight 29 Casino is located at 46-200 Harrison Place in Coachella. Tickets are $20.
On Sunday, August 24 from 2 to 4 pm, the Arthur Newman Theatre will host a performance of Juliana Hansen in: “Juliana – Live!” Ms. Hansen’s will perform many songs from many of her Broadway and Disney film & stage credits. The Arthur Newman Theatre is located at 73-750 Catalina Way in Palm Desert.
In honor of National Park Service Birthday, Free Entrance Days to National Parks will be celebrated at Joshua Tree National Park on Monday, August 25. Visitors can enjoy free admission to the beautiful park all day long. If you’re looking at equestrian ranches in Indio or other styles of residences in the Coachella Valley, Joshua Tree is a must-see!
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It can be difficult to find the perfect layout for any property, let alone for equestrian homes. For that matter, is there really such a thing as a perfect layout? Every landowner has different needs and wants, whether for real estate in Indian Wells, a bungalow at the beach or luxury properties in the mountains.
However, a good layout can make or break a deal—and especially when it comes to equestrian homes. There are so many aspects to consider, such as providing access to the property for the large vehicles that will need to enter from time to time, such as trucks, multi-horse trailers and other large delivery vehicles. You will need ample parking and enough room for them to turn around. Keep the daily tasks associated with upkeep and maintenance in mind so that unnecessary driving can be avoided and so that the route past important facilities like the barn and stables is as short as possible.
Regular maintenance and upkeep can be a chore for any real estate in Indian Wells, let alone equestrian properties. Make sure to take everything into consideration, especially any changes you want to make. When you’re creating the master plan, think about painting, mowing lawns, the location of the pasture, manure disposal, irrigation, storage, etc. Another thing to think about are the water lines—even if you are lucky enough to live in an area that doesn’t experience hard freezes, it’s important to locate the master water shutoff valves so they can be accessed quickly and easily. You’ll want to be able to turn off sections of water lines without affecting or draining the entire system.
It’s also important to research the separation limits and evaluate the setbacks distances, as well as the minimum distances for spacing buildings from parcel boundaries, roads, creeks and storm drain easements, and any other utility or other access easements.
We hope these tips will help you navigate the planning of your property.
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If you’re trying to sell Indio real estate or homes in another area of the desert cities, you probably already understand the importance of staging the home for viewings and open houses. But are you aware of how important the landscaping is as well? The exterior of the property is the first thing potential buyers will see and can be enough to send them running in a different direction if your lawn is overgrown or your yard looks like a storage area.
As autumn approaches, you may not be thinking about your lawn too much, even when you own an equestrian ranch or similar property. Hopefully, you’re keeping things manicured and pruned, but it’s also a good time to look forward. If you’re just now thinking about listing your house, it’s the perfect time to prepare your lawn for upcoming months. Here are a few tips for getting your lawn in shape and boosting the appeal of your Indio real estate property.
Continue mowing regularly. Even though grass grows slower in the fall, it doesn’t mean you can slow down on moving and watering it. Your lawn is absorbing energy and nutrients to prepare for the winter. Continue mowing and watering it, though it’s best to set the blade of the lawnmower mower to its lowest setting the last few times you mow it this year to allow more sunlight to reach the crown—this will reduce brown leaves and help set you up for a lush lawn in the spring.
Aerate. Water, fertilize and oxygen need to reach the roots of your grass for it to be healthy and fertile. Aerating the lawn during autumn will help your lawn get what it needs to grow. Either hire a professional landscaper to aerate it—especially if you own a larger property such as an equestrian home—or rent a gas powered aerator and do it yourself.
Rake your leaves consistently. While few people enjoy this chore, it’s an integral one when it comes to your landscape. Rake them as soon as possible so that the leaves don’t suffocate the grass and breed diseases. Plus, no matter how beautiful your Indio real estate is, you don’t want potential buyers to be overwhelmed by the sight of a giant pile of leaves when they first arrive or have to wade through them to get to the door of the house.
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As we’ve mentioned many times in our blog, when you’re trying to sell a house, whether it’s property in Rancho Mirage, Indian Wells real estate, a beach cottage or one of the highly desirable equestrian homes in Southern California, curb appeal is key to attracting potential buyers and getting them to get out of their cars to take good long look.
Great landscaping can seriously enhance the style of your home and boost curb appeal tenfold. “Great” doesn’t necessarily have to mean expensive either. As long as it’s well-planned, intriguing and cohesive with the exterior of your home, you’ll be in great shape.
Pick a theme. Whatever you do, don’t try to combine more than one theme. Pick one and stick with it. If you’re working with Indian Wells real estate or property in Rancho Mirage, you may want to go with a desert or southwestern theme—just don’t try to mesh tropical with desert or a surf theme with Japanese garden.
Refresh planters. Get rid of weeds, prune everything so it looks neat, and plant seasonal flowers. You should also refresh mulch to replenish the color that is faded by sunlight. If you have a flower bed that has borders, make sure to clean the borders and replace anything that is damaged.
Install window boxes. Window boxes are an excellent way to add some charm to the exterior of your house. Plant flowers and plants that mesh well with your overall color scheme.
Add some artwork. Incorporate some pieces that are immune to the elements—in other words, items that don’t require a green touch. Wind chimes, fountains, birdbaths and sculptures are all good examples of pieces that you can use to complement your color scheme and exterior design. If you choose to have a fountain, which can add a very calming element to your garden or lawn, make sure to place them on ground level where they can be seen and heard, and avoid having them close to a tree, so that leaves aren’t dropping into it.
Click here to browse listings of equestrian homes, property in Rancho Mirage, and Indian Wells real estate.
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Buying equestrian homes can be a daunting project for many, especially the first time around. There are myriad maintenance issues to consider, even when it comes to the best designed ranches and properties. Normal maintenance will definitely be a chore, and especially when the property has unique and different characteristics.
If you already own horses, you know that it is a substantial financial commitment and one that requires a great deal of time. The same goes for owning equestrian homes, whether you’ve found the perfect piece of real estate in Rancho Mirage or La Quinta, or a property in Santa Barbara.
Every task performed at a stable will be required of those owning a property where horses are kept. Horses require exercise on a daily basis, and even more so for those confined in paddocks and stables the majority of the time. In addition to exercising horses, the paddocks should always be free of trash and debris, especially broken glass. Fences always need to be in a perfect state to prevent horses from getting injured, and stable bedding must be changed daily. Unfortunately, droppings must always be removed to prevent flies and worm infestation. Tack should be properly cleaned and horses should be groomed after each ride. In addition, it’s typically normal for a horse owner to check the paddock twice a day to make sure horses have clean water and adequate feed, and that they are safely in the stable.
When you are planning your visits to check out real estate in Rancho Mirage or another prime area for equestrian properties, make sure to consider all the maintenance aspects. Think about equipment storage, irrigation, manure disposal, and obviously the amount of space when you visit a potential property or are already in the planning stages.
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Are you hoping to sell your Rancho Mirage real estate to the highest possible bidder? Whether you’re selling luxury properties such as equestrian homes, a ranch or beach condos, properly staging the property will highlight its strengths and downplay its weaknesses so that you can appeal to the widest pool of buyers.
1. Create groupings. To make rooms look as large and user-friendly as possible, float furnishings away from the walls and arrange them in small conversational-style groupings. This actually opens up the appearance of each room more than positioning furniture against the walls will.
2. Make a statement. If you have a room that needs work or lacks purpose, add value by repurposing it or adding a standout design feature. Be creative and think outside the box—you can transform a boring guest room into a reading nook with a plush chair, a sumptuous rug and statement lighting. With properties like equestrian homes, you have a lot of area to work with and accessorize—consider vintage lighting concepts or unique window treatments to add stylish flair to your property.
3. Employ lighting. If you’ve ever visited a home that was staged well, it probably felt warm and inviting. An easy way to create that kind of atmosphere is with good lighting schemes. Two key ways to do this is 1) Play with the wattage in both your interior and exterior lamps and fixtures, and 2) Strive to blend three types of lighting: ambient, task and accent.
4. Create illusions of space. To make a section of your house appear larger, paint two adjacent rooms the same color. To take the illusion even further, match your curtains to the paint.
Using staging tips like these will improve the appearance of your Rancho Mirage real estate, luxury home or any other type of property you’re putting on the market. As a result, you will increase your pool of prospective buyers.
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Most people are aware that Palm Springs is an ideal place to live for golfers, but not as many know that the Coachella Valley is a perfect place for equestrian homes. Not only does one of the most exciting horse shows take place in the Valley—the A-rated Horse Show in the Sun (HITS) Desert Circuit—but there are great equestrian trails nearby with stunning views to choose from, from Murray Canyon to the areas around Thousand Palms that are protected by the Bureau of Land Management (BLM). In addition, the beautiful Joshua Tree National Park, which offers 253 miles of equestrian trails, is a short drive away and the Empire Polo Club and the Eldorado Polo Clubs are located in nearby Indio.
The incredible climate that Palm Springs boasts makes it enjoyable to ride horses nearly all year long, which makes it worth it for horse owners to consider the area’s equestrian homes and properties that have the potential to be converted. There are definitely areas throughout the desert communities and parcels of vacant land for sale that are ripe for horses—many already have barns, stables, paddocks, areas for training and miles of trails nearby.
If you’ve been considering real estate in Rancho Mirage or La Quinta, there is a wide range of properties to consider, from small and medium-sized to larger, ranch style homes. In fact, the Equestrian Centers International is located in Rancho Mirage, and can serve as a great resource to those looking to buy or sell horses, or to find places board them. There is also the nearby Clancy Lane Boarding Stables, a full service boarding facility, and plenty of horse trainers and places to get horseback riding lessons throughout the desert cities, including Rancho Mirage, La Quinta and Indian Wells. Many horse owners also choose to find homes or ranchettes in the Indio area, which has quite a few farm properties.
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When you are looking at homes for sale in Palm Springs or any other part of the country, it’s good to think ahead. While you may plan to live in the home you buy for several years, it’s never too early to think about resale value and take steps to maximize it. Even when you’re just looking, its good to understand what improves the value of a home so that you can take those things into consideration.
Read on for three factors to consider when you’re viewing homes for sale in Palm Springs.
The view. Whenever there is a pleasant view from a property, it will significantly add to its value. In Palm Springs, when a home has a view of the picturesque mountains, desert landscape or the lush green fairways of a golf course, those properties will often sell at a premium over homes without a view. While a view may not be important to every buyer, if it’s something you will really enjoy, then it’s probably a great investment.
Size. Size is everything to some—but when you’re thinking about resale value, keep in mind that you want to move to a neighborhood where the house sizes are not too different from each other. The homes surrounding each other factor in when determining market value—therefore, the largest house in the neighborhood may be harder to sell than others in the same vicinity. On the flip side, if you buy one of the less sizable homes in a neighborhood, those larger homes may increase the value of your home. The gist—a more prestigious neighborhood can boost resale value.
The number of bedrooms and bathrooms. In general, most buyers look for three and four bedroom houses, so if you’re thinking about selling sooner rather than later, you may want to look for homes in this popular group in order to attract a wider pool of prospective buyers. There should be a minimum of two bathrooms, while two and a half may be more appealing to buyers as it leaves the option of a guest bathroom.
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