Exciting news for those with Palm Springs homes for sale – The Wall Street Journal reports that property prices are rising at the fastest rate since 2006. Better yet—some real estate sellers are experiencing double-digit gains.
What’s exciting for those who are interested in selling anything from equestrian properties and retirement homes in La Quinta, to beach condos and downtown lofts, is that buyers are returning to a marketplace where property is in short supply. And we all know what happens when demand rises.
According to the Standard & Poor’s/Case-Shiller index, which tracks home prices in 20 major metropolitan cities, in February of this year alone, prices rose 9.3% as compared to February 2012. Meanwhile, mortgage-interest rates hovered near record lows, and all 20 areas experienced year-over-year gains for the second consecutive month, which hasn’t happened since the 2005 crash.
The real-estate market’s rebound appears poised to continue for now. Even though the supply of homes for sale fell 16.8%, the sales of previously owned homes rose 10.3% from March 2012. Across the board, supplies are dwindling as foreclosures are slowing down, and many homeowners are either unable to sell due to aftereffects of the housing crash. Yet the economy has seen a boost in employment, while rising rents and falling mortgage rates make ownership more appealing. The Federal Reserve’s lower interest rates also contribute to the rebound of the real estate market, which reduces yields on a broader range of assets. Lower mortgage rates are creating urgency for traditional buyers, making those who take out mortgages less effected by recent price increases. With mortgage rates so low, owning a house is more affordable than it’s been in decades—investors of all sizes are buying homes, sometimes with cash, and often times converting them into rentals.
If you’re ready to seize the moment and view some Palm Springs homes for sale, equestrian properties or retirement homes in La Quinta, click here.
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La Quinta Arts Festival
Maybe it’s the abundant sunshine or the picturesque beauty of the Santa Rosa Mountains. Or perhaps it’s the impeccable, top-ranked golf courses and stunning hiking trails. Either way, it’s easy to understand why La Quinta is called the “gem of the desert.” Every year, tourists from all over the world visit the Coachella Valley, and many fall in love with the area and find themselves eyeing La Quinta properties while they’re here on vacation.
There’s no age limit on living the good life—the population in La Quinta is diverse and ranges in age; while it’s an ideal place to retire, many families, singles and young couples also find it equally appealing. Located in the former lakeshore of prehistoric Lake Cahuilla, La Quinta’s climate is sunny, hot and dry, which can be very healing for an array of health and medical conditions. In addition to the breathtaking mountain views and outdoor activities this resort town offers, there is also a thriving arts community, as evidenced by the La Quinta Arts Festival, which celebrates the artists, culture and businesses of the Coachella Valley region. Residents and those who own real estate in Indian Wells, Palm Desert or live in equestrian homes in other areas of Palm Springs flock to this incredible event every year.
While the warm winters makes La Quinta real estate a haven for snowbirds, an even greater draw are its world famous golf courses, such as the PGA West golf complex. The Robb report credited La Quinta as the leading U.S. golf destination, with more than 20 golf courses that are renowned for their luxurious greens, and prestigious tournaments including The Legends of Golf, the Bob Hope Chrysler Classic and The Grand Slam of Golf, among others. Other outdoor activities such as hiking, tennis and horseback riding increase appeal for those looking for equestrian homes or real estate in Indian Wells, Palm Desert and the other surrounding cities.
In addition, many La Quinta properties boast impeccably landscaped greenery and unique water features, and the town’s chic shopping and fine dining options also draw a multitude of visitors. The city’s infrastructure is new and the town is very safe and family-friendly. With all of the year-round recreational activities, and the beautiful parks and trails nestled in the foothills of the Santa Rosa Mountains, there are few people who don’t find a wide range of features they love about this stunning town.
Click here to view equestrian homes and other real estate listings in the Palm Springs Valley.
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This weekend is an amazing example of the diversity of Coachella Valley. You’ve got everything from stunning, relaxing retirement communities and celebrity golf tournaments to the hip events that people travel all over the country to attend, such as the Coachella Valley Music and Arts Festival (aka Coachella) and Stagecoach. This weekend marks Weekend One of Coachella—an event attended by everyone from international tourists and celebrities to residents and owners of real estate in Palm Springs, La Quinta, Rancho Mirage and the surrounding desert communities.
This annual three-day music and arts festival takes place at the Empire Polo Club in Indio, and features indie, rock, hip hop and electronic music. Founded by Paul Tollett, Coachella features blockbuster music acts in addition to a wide variety of installation art. The event officially began in 1999—over 10,000 people attended, with headliners including Beck, Tool, Morrissey, Rage Against the Machine and The Chemical Brothers. However, it was reported that the event didn’t generate a profit and was therefore almost ended after the inaugural event.
While there was no festival in 2000, organizers gave it another try in 2001, bringing excitement to music lovers, including those who lived nearby or owned Indio real estate. Jane’s Addiction headlined and the effort was more profitable than the first year. In 2002, the recently reunited Siouxsie and the Banshees, Oasis and Bjork headlined, proving to owners of Indio real estate and other members of the community that the event could stimulate the economy. In 2003, The Beastie Boys Red Hot Chili Peppers, Iggy Pop and The Stooges performed, selling out and drawing worldwide attention to the event.
Since then, the event continued to expand—in 2012, it was scheduled to take place over two weekends, becoming an even bigger draw to attendees from all across the globe. An extremely popular array of diverse, award-winning and legendary musicians and bands who have performed at this festival include Arcade Fire, Duran Duran, Prince, Madonna, Paul McCartney, Kanye West, Blur, Muse, Swedish House Mafia, Daft Punk, The Cure, The Killers, Arctic Monkeys, Nine Inch Nails, Gorillaz, Radiohead, MGMT, The White Stripes, Roger Waters, Florence and the Machine, Swedish House Mafia, Snoop Dogg, Jay-Z and even a hologram of Tupac Shakur.
This year’s lineup includes the Red Hot Chili Peppers, Social Distortion, Wu-Tang Clan, Nick Cave and The Bad Seeds, New Order, Benny Benassi, Lumineers, La Roux, Moby, Vampire Weekend, Eric Prydz, Descendants and many other killer acts.
If you have time before or after the event and are interested in real estate in Palm Springs, La Quinta, Rancho Mirage or Indian Wells, click here to browse some amazing listings.
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The first week of April is a big one here in the desert! If you’ve been eyeing homes in La Quinta, Palm Desert or another area of Palm Springs, then now is the perfect time to come visit, check out some real estate listings, and solidify your love for our vibrant communities.
The Kraft Nabisco Championship takes place all week long at the Mission Hills Country Club in beautiful Rancho Mirage. Steeped in tradition, this highly anticipated tournament is the first stop on the LPGA tour, with the Dinah Shore Trophy at stake. Whether you like to play golf or enjoy it as a spectator, getting a taste of the impeccable courses here will make you dream of finding properties in Rancho Mirage or buying real estate in a nearby area.
Tonight from 8 to 10 pm, Broadway star Linda Eder will grace McCallum Theatre with a much awaited performance. On Wednesday, April 3, another Broadway performer, Vicki Lewis, will perform at the Annenberg Theater. Ms. Lewis won the 2007 Ovation Award for Best Featured Actress in a Musical for her performance in the world premiere of Michael John LaChiusa’s Hotel C’est L’amour. Her Broadway credits include Chicago, The Crucible, Do Black Patent Leather Shoes Really Reflect Up?, Damn Yankees and Snoopy!!! The Musical. The show will take place from 6 to 8 pm.
From April 4 through 8, the American Documentary Film Festival will take place right here in Palm Springs. Since we’re only about two hours away from Hollywood by car, we’ve got a great audience of film aficionados, and are on our way to seeing this become the largest documentary festival and market on the west coast. The festival will commence with an Opening Night Spectacular with Dionne Warwick, who will host the evening’s feature, Whitney Houston & Her Family: Voices of Love. In addition, there will be a live performance by the nationally-renowned gospel choir, Voices of Calvary. There will be screenings, seminars and other events during this exciting festival.
If you’re feeling inspired by these activities and are thinking about making a move to the desert communities, know that we’ve got even more going on this week alone! Click here to view some gorgeous homes in La Quinta or properties in Rancho Mirage.
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This weekend in Palm Springs is packed with some fun and eclectic offerings for the entire family. Whether you live here already or have been checking out Palm Springs home for sale or homes in La Quinta or Indio, a visit this weekend is certain to make the entire family fall in love with the Coachella Valley.
This weekend, from March 22 through March 24, the smash hit Broadway musical production of Disney’s Beauty and the Beast will show at the McCallum Theatre. Based on the Academy Award-winning animated feature film, this take on the classic love story features lavish sets, spectacular costumes and unforgettable production numbers.
Also taking place this weekend is the Food and Wine Festival Palm Desert. This premier food and wine tasting event includes some of California’s most inspired chefs offering an extraordinary sampling experience. Located under The Big White Tent on Larkspur between El Paseo and Shadow Mountain in Palm Desert, the event will have an educational slant that showcases the valley as a culinary destination. A visit to this event will inspire your taste buds and an inkling to view Palm Springs homes for sale.
If you’re feeling lucky this weekend, then you may want to hit The Price Is Right Live interactive stage show at the Special Events Center at the Fantasy Springs Casino. Just like you’ve seen on television for so many years, contestants will be pulled from the audience for the chance to win great prizes, including vacations, appliances and new cars. All the favorite games from television’s longest running and most popular game show will be played, from Cliffhangers and Plinko to the Big Wheel and the fabulous showcase. The show will take place on Friday, March 22 and 23, with two shows each day, one from 6 to 7:30 pm and the other from 8:30 to 10 pm.
If you’re visiting this weekend and the flurry of activities motivates you to move to the beautiful Palm Springs Valley, click here to take a look at some of the listings of homes in La Quinta, Indio and Palm Desert.
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If you’re considering buying a home, then it’s time to arm yourself with a game plan. Whether you’re interested in finding a beach house, a condo or luxury properties in La Quinta, there are some strategies you should put into place and information you should seek when preparing for such an important transaction.
The most important step on this checklist is to find a real estate professional that you trust and that has the right expertise for your transaction. Deciding to hire the right kind of broker, short sale realtor or other type of agent for the type of purchase you want to make is what will make the difference between a stressful transaction and one that moves forward smoothly and productively.
One of the next most important things is to get your credit score as high as possible. The higher it is, the lower both your down payment and monthly payments will be. Depending on the market, many experts say that to avoid paying huge fees and having to put down a sizeable down payment, you should probably strive for a credit score of 700 and above. While there are many qualified buyers in lower ranges, this is a good number to work towards. Pull your credit reports and dispute any discrepancies, and stop applying for new credit for about a year before you plan to start looking for that gorgeous beach house or luxury properties in La Quinta.
Next up on our checklist: seek a price range that’s within your financial comfort zone. Certain financiers require your monthly payments not to exceed between 28 and 31 percent of your monthly income. This is a good formula to work with when assessing the home you can afford—you should calculate the potential payments for a property in your price range and add in any increased expenses, such as insurance or HOA fees, and see if you can live with the difference.
Finally, start saving now. Most real estate professionals recommend saving around 20 percent of the intended price range for a down payment. Obviously, some lenders accept much less, but a larger down payment may be better for your future. Start saving now, even if you’re not in the market yet. When you do enter the marketplace, and if you’re working with a good short sale realtor, you may need to move faster than you thought when some incredible deal comes your way.
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Do you think you’ve found your dream house in Palm Desert? If so, we hope you’ve followed the tips for buying homes in parts one and two of this blog series, and are ready for the next few tips we have to share. Whether you’re seeking luxury properties in La Quinta, Indian Wells real estate or a vacation home in another area of the Coachella Valley, you’ll definitely benefit from preparing yourself as much as possible.
1. Set up a home inspection. If you really think you’ve found that dream house in Palm Desert, then schedule an inspection as soon as you can—it is by far one of the best ways to protect yourself. A proper inspector or engineer will examine the premises thoroughly and be able to identify issues that you may not be able with an untrained eye. Typically, an inspector will evaluate the interior plumbing, electrical systems, insulation, air conditioning, heating systems, and all aspects of the visible structure.
2. Make adjustments. If problems are found during the inspection, don’t freak out. This is a great opportunity to make adjustments in the price based on the potential costs of future repairs
3. Make a fair offer. Once you’ve incorporated the home inspection findings into your budget, have your agent or short sale realtor help you establish the price you’re willing to pay for the house. In addition to the home inspection findings, factor in the prices of similar houses recently sold in the neighborhood. For example, if you’ve been scouting luxury properties in La Quinta and found one you want to make an offer on, have your real estate professional investigate the sales of equivalent properties in the last six months.
4. Investigate homeowners insurance. If you’re ready to make an offer, start getting quotes immediately for homeowner’s insurance so that you can determine a real budget. This is different than renter’s insurance, as you want to insure the structure, not just the possessions and contents of the home. Be sure to take into account weather and climate related issues relevant to the particular area, such as flooding, earthquakes, tornados and hurricanes.
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As usual, there is so much going on in the valley this week! Choose from another well-rounded slate of choices, perfect for unwinding from a long day at work, after finishing 18 holes or to top off a day of looking at Palm Springs homes for sale.
This evening at the McCallum Theatre, the Desert Symphony presents, “Oh What a Night!” Written by written by Motown producer George Solomon, this mesmerizing tribute to Frankie Valli and The Four Seasons is perfect for the entire family. This concert style revue features hit favorites including “Big Girls Don’t Cry,” “Sherry,” “My Eyes Adored You,” and many more amazing songs. The show takes place from 8-10 pm. The McCallum Theatre is located at 73-000 Fred Waring Drive in Palm Desert, CA.
A signature event that is an absolute favorite of those who own properties in La Quinta, Rancho Mirage and Palm Desert is Modernism Week, which runs from February 14 – 24. A 10-day celebration of mid-century modern design, architecture and culture, this amazing event is the only one like it throughout the entire country. Choose from a wide array of events from chic parties in mid-century modern homes and architecture tours to films, lectures, educational events and an architecture symposium. Who knows—you may find some gorgeous Palm Springs homes for sale while you take in the elegant informality that defines desert modernism.
Another fun twist on this week’s calendar is a concert by R&B singer-songwriter Keith Sweat at the Spotlight 29 Casino on February 14 at 8 pm. With hits including “Get Up On It,” “Twisted,” and “I Want Her,” Sweat topped the Billboard charts for decades. The venue is located at 46-200 Harrison Place in Coachella, CA.
As you can see, when you live in Palm Springs and own properties in La Quinta, Rancho Mirage and Palm Desert, you can absorb a diverse slate of culture in any given week.
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Are you considering buying La Quinta real estate or a home in another part of Palm Springs Valley? Now is probably a great time to start looking—since property prices started rebounding in 2012, it’s expected they will continue to rise. The good news is, it’s still a buyer’s market. Ready to get moving? Here are some tips to help get you started.
1. Determine your budget.
This is probably the most important step in preparing to buy, whether you are considering homes for sale in Palm Springs or in any other part of the country. Put together a budget so you can determine what your spending power truly is. Don’t feel that just because it’s a good time to buy, you should get in over your head just to take advantage of the timing. Also ensure that you leave room in the budget for a contingency plan in case of emergencies such as health issues or unexpected unemployment.
2. Start saving.
Most recommend saving approximately 20 percent of your budget for a down payment. While you may be able to put down less than that, it’s really better to at least put down a full 20 percent. In addition, as mentioned above, remember to save additional funds for emergencies.
3. Prep your credit.
Order a copy of your credit report and assess your score. Make sure that there is no erroneous information on it, and if there is, submit your correction information as soon as possible. You want the credit investigation to be performed quickly so that you can clear away any discrepancies. This is an essential step, regardless of whether you’re interested in La Quinta real estate, equestrian homes in Rancho Mirage or anywhere else in the state. You can obtain a free credit report once a year by visiting AnnualCreditReport.com.
4. Get pre-approved.
Get a great reality check by going through the pre-approval process for a mortgage. Get referrals and start shopping around for respectable brokers. You can seek recommendations from the banks or credit unions you work with, as well as friends and family. Be prepared for a lot of paperwork and some tasks that seem redundant. The more work you do in advance, the easier it will be when you’re searching for homes for sale in Palm Springs or whichever area you’re considering.
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One of the attributes of living in the desert communities that many are unaware of is the region’s thriving arts community. Once visitors get a taste of what there is to offer in the Palm Springs Valley, they quickly find themselves eyeing everything from La Quinta to Indio real estate.
In January, Palm Springs newest gallery, the Archangel Art Collective, opened its doors to share unique, cutting-edge fine art that transcends boundaries to challenge and provoke social commentary about relevant cultural issues and the role art plays across the globe. The gallery describes some of the one-of-a-kind works they will show as “whimsical, powerful, iconoclastic and often unconventional art.” It’s exciting to think that owners of homes in La Quinta, Indian Wells, Palm Desert and Indio real estate can now access such innovative art so close to home.
Located in the uptown arts district of Palm Springs, the Archangel Art Collective showcases many artists who are new to the desert art scene. The opening exhibition, “aLiVE,” highlights the work of Seattle-based Max Emminger and more than 20 of the nation’s finest contemporary artists. Emminger’s work is a “a very pared-down and sophisticated visual diary of his life and preoccupations” that often features many of the characters from his domestic life and areas he frequents, such as Lopez Island or Green Lake. It’s very exciting that local owners of homes in La Quinta and Rancho Mirage will now have the chance to regularly experience such an interesting array of works.
This innovative gallery is open Tuesday through Saturday from 11 am to 6 pm and Sundays from noon to 5 pm, as well as by appointment. The gallery will host new show openings the third Thursday of each month that includes artist receptions from 5 to 9 pm. The address for the Archangel Art Collective is 1103 N. Palm Canyon.
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