La Quinta Cove's crown jewel, La Quinta Hotel
La Quinta Cove is on fire . . . not literally, but properties in this beautiful piece of east valley, wrapped on three sides by stunning mountains ranges, are being snapped up at a very fast clip. Investors and homebuyers, both foreign and local, are grabbing up hot deals in this “best kept little secret” of a community that’s not so secret any more.
So what is the draw, what makes this Cove community such an appealing area of the Palm Springs Valley in which to buy??? Well, it only takes a drive around La Quinta Cove to understand why! For one, the Cove affords the finest Santa Rosa Mountain views around. The Fred Wolff Bear Creek Nature Preserve is tucked away at the western edge of the La Quinta Cove and has trails for hiking, biking, dog walking and jogging. There is also quick access to several city parks.
Fortunately, too, is that La Quinta’s dark sky ordinance ensures that starry nights will shine brightly for all in the Cove. At the foot of the Cove and its Santa Rosa Mountain range, are two unique locations – Old Town La Quinta with its fine dining, coffee shop, boutiques and regular events and the La Quinta Resort and Spa, a world renowned destination resort.
La Quinta Cove residents have access to excellent public schools right in La Quinta, as a part of the award-winning Desert Sands Unified School District. The Cove is also located in the Imperial Irrigation District which offers the lowest electrical utility rates in the Coachella Valley. Home styles here vary from Santa Fe, to southwest style and from mid-century to contemporary to Mediterranean architecture. This area has attracted award winning architects, artists, designers, musicians and chefs who claim the Cove as their home.
So, I ask you, what’s not to love about living in La Quinta Cove??? It’s got everything you could want for an active desert lifestyle . . . and so much more.
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With mortgage rates dropping, La Quinta homebuyers (and buyers all over the country) gain more purchasing power – as buyers with the same amount of monthly payment are able to borrow more money today and therefore purchase a more expensive house with more amenities than just one year earlier. Average 30 year fixed mortgage rates fell by 17.7% in a one year period ending in January 2012 – from 4.76% in Jan. 2011 to 3.91% in Jan. 2012.
The maximum amount a homebuyer can borrow to purchase property depends entirely on the amount of his down payment and the amount he’s qualified to borrow from a lender. His borrowing ability is based on these two factors:
1) current mortgage rates, which are always changing
2) home buyer’s income, which typically changes every year at the rate of inflation
It is known by lenders that on one hand, homebuyers are less likely to default if they are allocating no more than 31% of their monthly gross income to their monthly mortgage payments. Therefore, mortgage lenders are now refusing to lend more money than the buyer can repay at that 31% gross income ration amortized over 30 years based on a fixed interest rate.
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who wouldn't want to own in La Quinta???
I am working with Investors, or Investment groups from Australia, the UK, New Zealand, Canada and France..and that’s just in the first quarter of 2012. Our Real Estate market is benefitting from foreign buyers belief that the US is the best place in the world to park their money. These buyers are helping reduce our inventory and get the housing market back in balance again..come on down!
Foreign clients bought 41 billion worth of stateside houses and apartments during teh 12 month period that ended in March of 2011, according to the NAR. Pretty much the same as last year..BUT add in the $41 billion spent by immigrants who moved here within the past two years and people with visas for longer than 6 months and the total is $82 billion..up from $66 billion just a year ago.
Realtor.com is nov visible internationally and can be viewed from practically anywhere in the world..and in 12 languages. Wow! Talk about checking out real estate while in the comfort of your own home. What states are they buying in????
1. Florida- nearly 55% of all international sales from May to November, 2011 were in Florida.
2. California-appprox. 6% in California
3. Nevada-5 % of all foreign sales were here.
4. Arizona-17% of foreign investor sales were in AZ
Why in these states? Because these states have the most standing inventory! The glut of homes in these 4 states is still considerable and therefore the price/sf is the best buy..more for your international money! It’s not ALL about investment. It’s also about buying a home in a country where you want to live..even if it’s only part time.
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Indian Wells is the place for the 2012 BNP Parabis Open
Indian Wells plays host to one of the largest and most recognized Professional Tennis Tournaments in the World from March 5-18, 2012!!! This year’s tournament at the magnificent Indian Wells Tennis Garden is a two week event featuring top men and women tennis players competing for more than $11 million in prize money (for the first time in the history of the tournament).
Ranked No. 1 in the world, defending champion Novak Djokovic had one of the best years in the history of tennis last year, with 41 straight match wins including winning the title in Indian Wells at the BNP Parabis Open. He will be a force to be reckoned with here at the 2012 event.
Defending BNP Parabis Open champion and No. 1 in the world Caroline Wozniacki won 6 titles in 2011 – more than any other WTA players. She is a tough opponent and will no doubt give her all at retaining her title at the 2012 BNP Parabis Open.
The Indian Wells Tennis Garden will also be holding the 19th annual BNP Parabis Open Senior Cup, featuring more than 700 players in a team tennis doubles tournament held from Mar. 19-22.
Come enjoy World Class Tennis in Indian Well’s state-of-the-art facility here in the beautiful City of Indian Wells.
Indian Wells offers many golf options
Talante's estate-like homes
Last night while at dinner with some friends at Stuft Pizza in Old Town La Quinta, we chatted away about how we all love living in La Quinta. One of the couples shared about how crazy they are about the gated community called Talante, as they have close friends who live there and socialize with them frequently. When they are ready to buy, Talante is where they want to be.
Talante’s resales rarely stay on the market for long, as these contemporary Mediterranean style homes are well constructed and appointed – giving them a classy feel. Their lots are spacious with many of the homes offering private pools and spas. Ideally situated in South La Quinta at the corner of Avenue 50 and Jefferson Street, Talante is close to many amazing east valley amenities such as charming Old Town, Silver Rock golf course, PGA West, Empire & Eldorado polo fields, and shopping & restaurants galore. It is also adjacent to Rancho La Quinta Country Club with direct golf cart access.
There’s a lot to love and learn about Talante. . . if you’re looking to buy your dream home in a prestigious La Quinta community, you owe it to yourself to take a look here !!!
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Lovely street view of Palmilla
Palmilla real estate is one of those intriguing communities in the desert that catches your eye when you drive by on the corner of Avenue 50 and Jefferson in La Quinta. Its unique desert color scheme blends beautifully with the tasteful landscaping around the outer wall and makes you want to see what kind of beauty resides inside of it. Since it’s gated, you can’t just take a leisure ride through, but if you’ve been fortunate enough to tour a home there, you will be impressed by this unique enclave of stunning contemporary homes.
Palmilla luxury homes overlook 7 acres of lakes and flowing waterways, making for the perfect setting for the indoor/outdoor living Southern California is so well known for. Majestic views of surrounding mountain ranges further add to the Wow factor. And all of this is available right in the middle of La Quinta, where restaurants, shopping, polo grounds, country clubs, Old Town, and so many more amenities are just minutes away.
If you have a heightened design sensibility and are attracted to anything but the ordinary, then the Award Winning community of Palmilla just may be for You !!!
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Andalusia at Coral Mountain homes for sale possess stunning mountain views, world class golf and sophisticated Old World style homes reminiscent of Southern Spain. Located in La Quinta, California, this Luxury Home Development offers standing new home inventory waiting to be customized to your personal taste and lifestyle !!!
There is so much to do at Andalusia at Coral Mountain, the choices are endless. Whether you like to golf or walk, hike or bike – play tennis or swim laps and soak in the spa . . . there is something here for everyone. For fine dining, you won’t have to look far . . . the onsite restaurant, Tapas, provides atmosphere and excellent food for that perfect night out.
Andalusia at Coral Mountain homes can be easily viewed, as models are open daily. Upgrades are available, as well as resale homes and custom home sites if you’re looking to build your own desert Dream Home !!!
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Just Listed in the La Quinta Cove. 4bd/2ba home built in 1997. $148,000. This home is cute as it could be with many Seller installed upgrades. The Seller is leaving window coverings, custom fans and custom lamps. She installed 18 by 18 inch ceramic tile floors and hardwood floors in three of the four bedrooms. The 4th bedroom has engineered wood floors and is lovely as well. Her father even installed a custom, wood carved mantle over the fireplace! This is a great family home.
This is Seller’s primary residence, she has a true hardship (disability), and only one loan with Carrington Mortgage, LLC, so we’ll get this baby done!
If you need an experienced Short Sale agent to help you understand the ins and outs or list and CLOSE your own Short Sale, give me a call!
Slab granite in kitchen!
custom hardwood floors!
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Smiling through hard times
I don’t have children, but of course, I know people who do. And I know some of those children . . . young adults coming up in a tough economy and unstable times. Remember back when you were young – in your late teens and into your twenties – these are heady times . . . sometimes exhilarating as you step out into the big wide world as an “adult” and all the freedoms allowed . . . and often times scary as you learn about the responsibilities that also come with being “of age.”
But life in today’s world !!! So fast, so complicated, so multi-tasking . . . so much information !!! And jobs are hard to come by, it’s hard for many of these young adults to find their place. There is a survey out there that says nearly half of young adults between the ages of 18 and 24 take jobs just to be able to pay their bills; nearly a quarter work without pay to get work experience and more than a third go back to school because they can’t find a job !!! Many are delaying marriage and having babies, and some move back in with mom and dad. Young adults looking to buy their first home need an experienced realtor.
It just wasn’t like that back when I was fresh and green and just starting out. Opportunities were abounding. This same survey says that optimism is high among young adults anyway . . . hmmm, maybe it’s their youth . . . I guess it beats the alternative. Wishing for better times and recovery for us all.
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PGA West custom home: $1,595,000
Luxury Home Sales for the City of La Quinta have continued to increase over the past 6 months. Luxury Home sales are homes sold for $1,000,000 +.
Luxury Home Sales by Month:
July, 2011: A total of 3 homes sold with 5 homes pending
August, 2011: A total of 7 homes sold and 7 homes pending
September, 2011: A total of 3 homes sold with 5 homes pending
October, 2011: A total of 6 homes sold and 6 homes pending
November, 2011: A total of 13 homes sold with 8 homes pending (Nice jump!)
December, 2011: A total of 9 homes sold and 8 homes pending
From July, 2011 to December 2011, there was a 200% increase in total number of Luxury homes SOLD. The Average SOLD price decreased by approximately 11% over the same 6 month period. Average days on the market has come way down too. In July, these homes were taking approx. 266 days to move, but by December, it was only 187 days. So..prices have come down a bit, homes don’t sit as long, and sales have gone up!
Interesting note: The price/sf has increased pretty steadily. In July, it was $467/sf, dropped to $328/sf in November of 2011, but by December, the average price/sf was back at $439.
La Quinta’s Luxury Homes are definately having a shorter shelf life. If you’re thinking about that luxury home, it might be a good time to get out and take a look at the Inventory in La Quinta.
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