11 acres on Calhoun/51st in Coachella
Coachella Land for Sale; New Listing. $1,300,000. Two contiguous 5.5 acre parcels for a total of 11 acres located at Ave. 51 and Calhoun St. in Coachella, CA. Very unusual offering here in the Coachella Valley. 51245 Calhoun/51317 Calhoun are the addresses of these 2 parcels, and there is direct access to the property from Calhoun St. If you are looking to buy or sell a home, land or equestrian property in the Coachella Valley, give Kim Kelly a call at 760-285-3578.
Currently zoned EDR, Estate Density Residential, and the views are gorgeous of the Western mountains, so it would be a perfect setting for a large estate. The great news is that these parcels are in Indio’s sphere of influence, and the annexation application has been submitted. With Riverside County’s LAFCO approval, proposed zoning changes will be for RE, residential estate, which allows for 0-2 du/acre, so with 2 homes/acre, it might be a great investment! This new zoning change will not happen until approval, but at least the process has begun.
There is an ag water on site; it was permitted in 2008. There is a sewer line and water line
Electricity to site. Ready to go!
in Avenue 51, approx. 1300 ft. from this property. Electricity is to site. Give me a call if you’d like more information, and just take a drive by and see this property for yourself!
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New Palm Springs Ordinance
New Palm Springs Ordinance. Palm Springs is now the first city in California to affirmatively recognize and regulate co-owned homes. This is a big deal for companies like Pacaso.
Co-ownership is up more than 20% year over year, and is being marketed as the future of second home ownership. By consolidating home buyers into fewer luxury homes, these companies relieve the pressure of second home demand. Contact local resident and agent, Kim Kelly if you’re looking to buy or sell in the Coachella Valley. 760-285-3578.
The new Palm Springs Ordinance, passed by the Palm Springs City Council should help to integrate and also regulate co-owned homes, which are often luxury second or third homes for the buyers. “This milestone sets a precent for other cities in California. Buyers who purchase a home together through the co-ownership marketplace have an owner’s mindset and are committed to taking care of their home.” Pacaso CEO states.
The new ordinance outlines rules designed to protect the neighborhood’s quality of life, and penalties for violations are clearly stated. The new Palm Springs Ordinance compliments the Good Neighbor Policies set out by co-ownership companies. Take the tour of this private 9+ acre equestrian estate located in Thermal.
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This Detached Casita is modern, roomy and comfortable.
ADU’s in California. I love the idea of additional dwelling units! Why not? It makes logical sense because California, like so many other states has a housing problem. There are more people looking to buy, than there are sellers looking to sell right now. That translates to low inventory, which often means the price gets driven up because buyers end up going after the same home. ADU’s in California make sense. Local Coachella Valley resident and realtor, Kim Kelly 760-285-3578.
Accessory Dwelling Units (ADU) in California
There are an estimated 1.5 million ADUs, or Accessory Dwelling Units, in the United States. ADUs have been growing by 9% or 100,000 per year and each year the number is increasing.
California is home to 30% of the ADUs in the United States and Los Angeles has the most of any city. Homes with ADUs are priced 35% higher in value on average.
The primary engines driving the growth of ADUs are lack of affordable housing, income opportunities, and the need to care for family members while maintaining independence. In addition, cities and states have passed legislation impacting their legality to encourage growth.
The average size of an ADU is generally 550 to 1,200 square feet. For financing purposes, they must contain a kitchen with a stove, a bathroom, sleeping area and a separate entrance from the primary home. The cost in California to build an ADU is estimated between $200,000 to $400,000.
Due to the cost of an ADU most homeowners require financing. The most common methods used are a Home Equity Line of Credit, or HELOC, a Home Equity Fixed Rate Loan, or a Cash Out Refinance. Certain renovation loans are also available with specific restrictions. (Courtesy of Kevin Budde, Monarch Lending) Take a short tour of this Indio Hills home. I did a walk video from the upstairs sky deck of the ADU.
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84045 Van Buren St., Coachella
Is it a good time to buy in the Coachella Valley? I’m very busy showing properties. Buyers are definitely looking, taking notes and thinking about buying. If a home is exactly what they are looking for in a specific neighborhood, or area, the HOA is ok, and the sun orientation is just right, they are jumping and there are still more than one offer if a property is priced below the comps. BUT…if a seller is being adamant about a price, and that price is not reflective of the fact that there are less buyers, and the buyers are picky, that property will sit. If you are looking to buy or sell here in the Coachella Valley, give Kim Kelly, local agent and resident for over 20 years a call at 760-285-3578. I like this rundown by Kevin Budde, a mortgage consultant with Monarch Coast Financial.
A Good Time to Buy a Home
Our economy is entering a Goldilocks period. A time when the economy is strong, and inflation is low. This will be beneficial for our Spring and Summer housing market. I would like to explain.
The three components of our economy most critical to the Federal Reserve Board and their policies are the 1) GDP, Gross Domestic Product, 2) Inflation and 3) Employment.
Gross Domestic Product
The overall strength of the economy measured by goods and services produced started slowly in 2023 after finishing 2022 at 1.9 percent. The first and second quarters of 2023 were both 2 percent but grew quickly in the third quarter to 4.9 percent and the fourth quarter ended with 3.3 percent for a total of 2.5 percent in 2023. The economy was boosted by strong consumer spending, which makes up two-thirds of the GDP. Since the economy is strong and inflation has come down, consumers have been spending on goods and services that no longer carry premium pricing.
Inflation
During the Pandemic, the supply chains closed limiting inventory of products quickly pushing prices higher for those items that were available. In 2021 the inflation rate was 7 percent; 2022 it was 6.5 percent both well above the Fed’s target range of 2 percent. The Fed’s actions raised interest rates to 23-year highs. The inflation rate in 2023 ended at 3.4 percent and the fourth quarter reported 1.7 percent, below the Fed’s target. The deceleration rate of inflation is one of the most rapid in U.S. history.
Employment
Employment has remained strong with job growth in 2023 averaging 232,000 new jobs a month. In 2022 the unemployment rate was 3.5 percent and 2023 was 3.7 percent. When consumers feel their job is secure, they are willing to buy houses.
Where are Interest Rates Headed?
When the Federal Reserve Policy Board meets January 30-31, they will leave rates unchanged even though many economists have been predicting the beginning of the cuts in rates. Inflation alone would justify cutting interest rates but the Fed fears by lowering the rates too soon it could stimulate the economy and cause inflation to increase. With all the increases in rates the Fed has made over the last two years, we will begin to see more slowing in the GDP, and an increase in unemployment as companies have begun layoffs. In the second and third quarters of 2024 mortgage rates will most likely be one percent lower than where they stand now, bringing the 30-year fixed to 5 percent.
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It’s the green parcel at the lower part of this photo..
Coachella Commercial corner parcel for sale! Just listed and this one is a supurb opportunity. Almost 8 acres on a hard signalized corner approx. 2 miles from the world famous Coachella music festival grounds. The Eastern Coachella Valley cities are booming, and Coachella is very business friendly. They are looking for businesses that will help boost the city and also fit the zoning requirements. This key corner parcel is located on the Southeast corner of Van Buren and Avenue 52. If you are looking to buy or sell in the Coachella Valley, call local realtor, Kim Kelly at 760-285-3578.
The city of Coachella NEEDS commercial development. There are new housing developments about a mile from this corner at 84045 Van Buren St., and there are not enough hotels. This could be a great location for just that. Priced at $2,350,000, this parcel is currently a single family residence on approx. 8 acres. This corner was part of a family date farm, and there is a cute home on it. Presently tenant occupied, the property is easy to show, so if you may be interested, give me a call! Coachella Commercial properties are hard to find..
Entry gate off of Van Buren St.
84045 Van Buren St., Coachella
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25 Victoria Falls Dr. at Victoria Falls in Rancho Mirage, CA
Just Listed in Rancho Mirage: Beautifully maintained single family home located at the gated non-golf community of Victoria Falls. Originally built by Peter Soloman, Victoria Falls is centrally located in our desert valley, near the 10 Freeway, at the corner of Bob Hope Dr. and Gerald Ford. The city of Rancho Mirage offers upscale dining, parks and walking paths, a beautiful library, and is right in the middle of our valley. If you are looking to buy or sell in the beautiful Coachella Valley, give Kim Kelly a call at 760-285-3578.
Built in 2002, and coming in at just over 3,000 sf with 4 bedrooms and 3 bathrooms, this Duchess floorplan at 25 Victoria Falls Dr., is the perfect size. The West facing back yard offers great light over the Pool and spa. The rock waterfall cascades into the pool, creating a soothing sound and sparkling light affect; this is resort style living in the desert! The back yard is an oasis of carefully chosen plants, full grown trees, desert scape mixed with grass, multiple walking paths and conversation areas, an in ground fire pit and an outdoor cook station.
Covered outdoor cook station with BBQ, granite countertop!
The covered outdoor cook station includes a built in gas BBQ, granite topped counter, over head heaters, ceiling fan, and an electronic shade for dining as the sun sets.
The home has been remodeled with new flooring throughout and new carpet in the bedrooms, lighting, newer A/C units, pool heater and pump, water heater, and new cabinets in the kitchen and powder room. The kitchen has gorgeous granite counter tops, new refrig., new Bosch dishwasher and direct access to the 2 car garage. There is also a golf cart garage.
Low HOA’s of only $370/month include basic cable, gated entrance, front yard maintenance to the courtyard and basketball, tennis and pickleball court maintenance. Victoria Falls is a lovely community! Call Kim to make your appointment to tour this property today! 760-285-3578. Take the video tour below..
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57300 Jackson St. 9+ acre estate with 2 homes in the County for sale!
Indio and short term vacation rentals: The city of Indio here in the Coachella Valley is asking for reevaluation of the city policies regarding short term vacation rentals. Most of our other desert cities have already increased their restrictions, and it sounds like Indio is next. This is the main reason my multiple acre properties are demanding so much attention; especially if they’re located in the County! Call Kim Kelly, local realtor for more information. 760-285-3578
Indio is discussing limiting vacation rentals to 30 days or less, reducing the number of renters/bedroom and more parking requirements. The other desert cities have already changed their city short term policies as follows:
Rancho Mirage: RM bans all short term vacation rentals except in HOA’s where permitted.
Cathedral City: Most short term vacation rentals will be phased out by 2023.
Palm Desert: There is an expanded ban on short term rentals adopted in January. 30 days or less unless the HOA allows it.
La Quinta: There is currently a moratorium and no new short term vacation rental licenses are being issued. It has been extended again into an indefinite stay.
I have seen a recent increase in demand for my vacant land, and also farms. Multi acre properties in the County are increasing in value and selling! Take a tour of this 9+ acre farm in a premier location. Listed for 4.5 million, the farm is gated, secure, and offers a 5 bed main home, 7 car garage, casita, 3 bed/2 ba caretaker’s cottage and 2 barns with a total of 17 stalls. And VIEWS!!
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Coachella Valley luxury homes are selling at a rapid clip!
Coachella Valley real estate; is it cooling? The Coachella Valley’s white hot real estate market has cooled in recent weeks, according to the Desert Sun. That’s based on two indicators, median home price and total housing inventory. Median home price dipped by 3% to $581, 500. Total inventory rose to 836, up from a June low of 654. Local realtor, Kim Kelly, 760-285-3578.
Here in the Coachella Valley, our summer is typically lighter in inventory than during the season. So, that is nothing unusual. Homes are sitting a bit longer, although luxury properties, one million and above, are continuing to be snapped up. Land sales have slowed down, also typical of a desert summer cycle, and lower priced inventory is still incredibly low. Last year, with the COVID pandemic, Coachella Valley real estate sales boomed, driven partly by all the buyers fleeing densely populated hotspots, like LA. Inventory was pretty much wiped out, especially in the entry level price pint of $300-$400,000.
With the added influx of millennials entering the market as buyers, and the return to the office plans by many major companies being put off again, and perhaps permanently, it sure feels like we will continue to see record setting sales here in the Coachella Valley. Take a tour of this fabulous luxury estate located at 52450 Monroe St., Indio. Approx. 10 acres with 4 homes, a private lake and waterfall, a barn, orchard and a 5 hole pitch and putt golf course. Available for $9,500,000.
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Nothing like coachella Valley land as seen from horseback!
What’s up Coachella Valley??? Our Desert is heading into summer, which means the local desert Rats are burrowing in to withstand the heat. But.. that doesn’t mean there aren’t any deals going down. For those buyers looking for deals, sometimes the summer can be the answer. Sometimes. Many sellers pull their properties off the market during the summer, and others decide they are NOT carrying their property any longer and slash their prices. If you want to know what’s going on in the real estate world of Coachella Valley, Call Local real estate expert, Kim Kelly at 760-285-3578.
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Our amazing Eastern Coachella Valley..
Our Eastern Valley Coachella Paradise: The beautiful, open, peaceful Eastern Coachella Valley is experiencing a renaissance. I am showing and selling Homes, Homes on small land parcels, homes on larger parcels, working Farms, and Vacant Land Parcels in our Eastern Cities. Indio, Coachella, Thermal, and Vista Santa Rosa are not new to us lucky Locals, but they are just being discovered by visitors, vacationers, Equestrians, and farmers ans developers. If you want to get in on the Eastern Coachella Valley explosion, either as a buyer or seller, give me a call at 760-285-3578.
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