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’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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Indian Wells has so many resident amenities!
Indian Wells Country Club, located in the center of our Palm Springs Valley, is one of our more established country clubs. The entry is right off of 111, HOA’s are low, and there are several gated and non-gated areas within the country club that feature special amenities and architectural styles..such as Manitou Springs.
What they say
“There’s a warm feeling here,” said Dick Hedwall, 81.
Hedwall has lived in the neighborhood for 18 years. Prior to that he was a part-time Rancho Mirage resident.
“We were originally looking in the same area as our old home, but this area immediately became a desirable spot for us,” Hedwall said of Manitou Springs.
The community is self-contained, quiet and very friendly, and the beauty of the night lit mountains is hard to imagine until you’ve seen them! Gorgeous!
Features
The community is small and not gated. There are no homeowner’s association amenities, but the homes have private pools.
As with all Indian Wells residents, Manitou Springs residents receive discounts at city golf courses, resorts and reduced ticket prices for the Living Desert and the Indian Wells Tennis Garden.
Residents also have access to the fitness center at the Hyatt Regency Resort and Spa.
Background
Development of homes in the neighborhood began in the 1960s.
There has been consistent new construction and remodeling of existing homes since.
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The Palms in Palm Springs!
Certain cities pull people in. Other cities pull us back..again and again. Palm Springs is one of the latter. It did that to me over 25 years ago. I remember driving over the hill from Long Beach, hitting the Whitewater Pass and letting out a deep breath. Miles of open space, warm and balmy air and a feeling of Freedom!
This is a great article about why people come back to Palm Springs..
Then there are the Art Festivals..Palm Springs offers 6 of them and the number is growing! Starting in January and going throughout the season, film buffs can see all the new ones hitting the screens. Live entertainment? Try the Coachella Music Festival and Stagecoash Festival in April. Lots to do here in the Valley!
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Seems that tourists are keeping in step with Global Warming . . . as Palm Springs hotel operators have noted elevated growth for the months of May and June, when tourism typically tapers off. What used to considered “off-season” around here is looking more and more like “on-season.”
The city has worked on creating partnerships with Germany and the UK . . . and it’s paid off, as more and more tourists from those two countries have been visiting Palm Springs during the summer months.
A Viceroy Hotel representative has commented that weekend traffic has been strong at their hotel, especially drive-in traffic. Also, a strong international representation has been noticed, particularly from the UK.
Recent data released from the city of Palm Springs shows that the number of visitors to Palm Springs last summer was up 25% from the previous year 2010. Since last year at this time, tourists have spent $15.1 million in Palm Springs and are projected to spend about $3 million more than that in this next year. And that’s no small potatoes!
These tourism dollars are being spent in the obvious places such as restaurants, resorts and hotels . . . and also at one of Palm Springs’ most iconic destinations – the Palm Springs Aerial Tramway, which sees a lot of activity from locals trying to escape the heat (at this moment, it’s 80.8 degrees at the top and it’s 113 degrees in Palm Springs).
Besides being popular with Europeans, Palm Springs is also attracting tourists from south of the equator, such as Australia, where it is winter right now.
It’s a beautiful thing, that the summer heat we locals complain about and dread is another man’s paradise. Go figure.
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