Leases, rentals and Hotel reservations here in La Quinta, Palm Desert, Indio and all the way to Palm Springs are BOOKED! Why? Everybody knows about the Coachella Music Festival and we all expect everything to be booked at that time, but what is it this weekend? Lacrosse! Yes, you read that correctly.
The Empire Polo Club hosts many different events during the season. Last weekend saw over 3,300 dogs compete at the Dog show. This coming weekend, there will be 130 Lacrossse Teams competing on the polo fields. That’s up from 78 teams last year. With each team comes family members, coaches, friends..my niece is refereeing the games. Everyone needs somewhere to stay so there you go..
Read about the Lacrosse Tournaments here.
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Luxury homes in La Quinta and Palm Springs
Luxury, boutique real estate brokerages are making a comeback. With the number of Real Estate Agents tumbling over 20% in the past 3 years, the industry is seeing many of the remaining agents switching brokers at regular intervals. Hoping to capture something new, or a specific marketing that one Brokerage may offer. This article from the LA Times points out several reasons why the Luxury Brokerages will continue to succeed.
http://www.latimes.com/business/realestate/la-fi-lux-realty-offices-20111229,0,1394779.story
Here in the Palm Springs Valley & La Quinta, I am seeing a huge rise in demand for luxury property viewings. Offers are coming in much closer to List Price, but then again, the List Price is much reduced/sf than they were 2-3 years ago. In our Luxury Real Estate market here in the desret, prices have corrected approx. 30% in most Luxury developments. That’s a huge contrast to the 50-60% drops in many developments here in the desert. That huge drop hit, and they aren’t going any further as evidenced by the mulitple offers that Buyers are submitting on these reduced properties.
One of the fastest areas of recovery appears to be La Quinta and Palm Springs proper. The entry level homes simply are not as numerous and the Buyer numbers have increased, actually driving the price/sf up from the List Prices! Good news for our Valley..not so good for those Buyers and Investors that waited 12 months too long. However, the price/sf is still insanely low..often MUCH less than what it would cost to build a replacement home..
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Palm Springs Valley Boarding Facilities
There are many Boarding and training facilities located in the Palm Springs Valley. If we consider the city of Palm Springs as the Western edge of our Valley, and Thermal as our Eastern edge, here are a few of the boarding facilities available to horse owners who live or visit the Palm Springs area.
Smoke Tree Stables, Palm Springs:
Family owned an operated for over 60 years, this private stable is with the Smoke Tree Ranch. Boarding, training, and guided trail rides are available.
Location:
2500 S. Toledo Ave. Palm Springs, CA. 760-327-1372
Clancy Lane Boarding Stables, Rancho Mirage:
This private stable is ideally located on the prestigious street of Clancy Ln. off of Bob Hope Dr. in Rancho Mirage. A full-service boarding facility with an air-conditioned barn, box stalls and outside corrals. Top level training and riding instruction is also available.
Location:
Clancy Ln., Rancho Mirage 760-773-5080, 909-856-5565
Coyote Ridge Stables, Morongo Valley:
Coyote Ridge Stables has been in business for over 15 years and is owned and operated by Sue Lund and Sally Ellis. All rides through the gorgeous Canyons of the Morongo Valley are accompanies by experienced Guides.
Location:
50639 Panorama Dr., Morongo Valley, CA. 760-363-3380
Rancho Polo Equestrian:
Rancho Polo is a polo and hunter jumper boarding facility in Thermal, CA. Offering on site training, stabling and turn out pastures, this equestrian facility is full-service. A galloping track, polo field, and various sized arenas are available for Boarders. Close to the HITS horseshow, it is a favorite amongst horseshow participants for seasonal boarding.
Location:
Ave. 58, Thermal CA. Mary at 760-250-5707
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Polo is fun to watch too!
Palm Springs Valley Polo Clubs. Palm Springs and La Quinta-actually all the Desert Cities are known for many different things. Golf, of course, is huge in our desert area. Warm Winters in ALL our valley cities. Fine Dining, magnificent hiking, Architectural types such as the Palm Springs modern..but there’s another special thing we are known for..the International Polo Clubs we have in our Valley.
There are two Internationally recognized Polo Clubs in the Palm Springs Valley. Both are located in the Eastern side of the Coachella Valley (Palm Springs Valley and Coachella Valley are synonymous). The City of Palm Springs is the Western side and La Quinta, Indio and Coachella are considered Eastern. The Eastern side of the Valley is much less developed and has a wonderful rural feel. There are many housing developments of course, (See La Quinta, Indio, Thermal and Vista Santa Rosa), but there is also a surreal feel to this side of our Valley.
The two polo clubs, Eldorado and Empire, occupy hundreds of acres of open land. There are approximately 20 playing fields between the two clubs, with each polo field being about the size of 9 football fields! Polo is a huge industry to the Eastern Valley bringing in approx. 1,000 horses each season, some 250 players and their families and grooms. Housing leases and sales occur along with all of our polo visitors..good for our Valley!
The Polo season starts in mid-November and goes through mid-April. Games are played Weds., through Sundays. Practices are Weds., and Thursday, with tournaments being played on Friday, Saturday and Sunday. The game to catch is always the 2 pm game on Sunday. This is the Featured match, complete with announcer, play areas for the kids, champagne half-time divot stomp and sometimes balloon rides! It’s quite a show, and the best thing is that games are often free or perhaps a minimum fee of $5/car for entry.
The Eldorado Polo Club
Eldorado is our older club; 2012 is it’s 55th year of play! The club is open to all, and Sunday tail-gaters are welcome.
Location: 50950 Madison St., Indio
General Information: 760-342-2223
Game Schedule: 760-342-4133
The Empire Polo Club
The Empire Polo Club is adjacent to the Eldorado Polo Club and is owned by the Haagen Family. Started in 1987, new Fields are being added on an annual basis. There are now 9 fields, and a Polo Arena with lights, for night polo games! All games are free and the schedule is the same for both clubs.
The Empire Polo club also hosts many different events. From weddings, to corporate events to sweet 16 celebrations, the club with it’s four different event sites is unique and beautiful. Perhaps the most famous event of the Empire Polo Club is the Coachella Music and Art Festival held for two weekends in April.
Location: Main entrance is on Monroe St. and 51st ave.
General Information: 760-342-2762
Game Schedule: 760-342-9111
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La Quinta Home Sales interest is increasing with the increasing attendance at the International Film Festival. The Film Festival is a yearly event, that is growing every single year. More celebrities of a very high caliber are making the decision to participate and Palm Springs is once again, on the map with regards to Hollywood! 2012 will see the likes of George Clooney, and Brad Pitt walking it’s red carpets. Entertainment TV will be covering their every move and for our Valley, this all points to more interest in Buying a Home here!
La Quinta’s homes for sale have always been popular with Celebrities. The La Quinta Resort & Club is a very popular place to stay during both the Film Festival and also the Coachella Music Festival. Rooms are booked way in advance, and after one season in beautiful, warm, La Quinta, people consider purchasing a second home here. Palm Springs Homes are also very popular. People that want to be right in Palm Springs proper with all it’s History, charm and older estate homes, find Palm Springs perfect for that winter home.
The Film Festival draws a huge crowd and we “desert rats” welcome them all with open arms! Come on out and see what the excitment is all about!
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La Quinta Real Estate, 2012..a good year?? A good year..that is going to be very different for each person asking the question. La Quinta Real Estate in general has withstood the decline in property prices, and in many areas and specific developments is actually seeing a slight increase in the price/sf! What??
1. Entry Level Homes: 2012 will see a continuance of high volumne sales in this market. Entry Level in La Quinta is approximately $200,000 and under. Homes in this price point moved heavily all through 2011 and should continue the trend through 2012. With a great school district, solid City management and reserves, proximity to upscale Hotels, Golf Courses, Resort amenities and Old Town La Quinta, there isn’t much not to like. Just add in the views, and you can see why this market is sizzling. Investors, Flippers, first time home buyers and families that have been waiting to purchase when prices dropped will continue to jump into this market.
2. Gated Communities: Gated Communities in La Quinta are very popular. La Quinta is, for many Residents, a resort destination. Canadians, Asians, Europeans, Northern Californians and Beach Owners, prefer to purchase their second homes, and vacation homes in gated communities, which do offer more security for the months the Residents are not in town. Prices in the mid-tier pertain to these communities at about $350,000 – $550,000. There are some less and many more expensive. However, the mid-tier price range of homes will most like move laterally..not going up or down and should continue to sell fairly well.
3. Golf Communities: In the La Quinta and Palm Springs Valley, there are approx. 120 Golf Courses! That means, ALOT of inventory. I believe we will continue to see Private Golf Clubs, changing their pricing structures to encourage part timers and beginning golfers. PGA West has already done this by adding a non-refundable Premier Membership opportunity at $40,000, and The Citrus offers the same at $30,000. This only came into being in 2011, but I believe there will be MANY private Golf Clubs trying to figure out how to entice more golfers to join the Clubs, in a more reasonable way. Home on Golf Courses are selling very well and should continue to do so. Average prices are now at approx. 50% less than they were at the housing peak in 2006.
4. Luxury Properties in La Quinta: I have seen a large increse in the interest and also the Sales numbers in Luxury residences across the Valley. These magnificent homes, in Golf and non-golf communities are selling. I think the Sellers will continue to adjust their prices to attract Buyers and the Luxury home market (1 mil – 3 mil) and the Luxury Market High End, (3.5 mil to 40 mil) will see sales increases in 2012.
I am not a psychic. I am a Realtor that is interacting with Clients on a daily basis and reading every real estate prediction I can find. None of us KNOW what is going to happen. These are my feelings for 2012 La Quinta and Palm Springs Valley real estate trends for 2012.
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Delinquent Mortgage numbers are on the rise here in California. This should not surprise anyone based on the Lenders giving a Christmas Holiday to their Eviction departments. Remember also that the Robo-signing scandal slowed the Foreclosure pipeline down to a crawl. In La Quinta, we could actually use some more Foreclsures! What I mean by that is there are many Buyers waiting in the wing for distressed properties..whether they be Foreclosures or Short Sales, so bring them on! I hate that people are losing their homes. I like that Buyers are snapping them up in the Palm Sprins Valley. We cannot get to the bottom of this Foreclosure Trend if we do not have Buyers ready to buy.
This is from the California Association of Realtors…
“The number of delinquent mortgages in November rose to 8.15 percent from 7.93 percent in October, according to a report from Lender Processing Services.
That delinquency rate as a percentage of the LPS database of 40 million mortgages declined nearly 10 percent from a year earlier. About 4.14 million homes were 30 or more days past due in November, with about 1.81 million properties more than 90 days past due.
LPS considers a mortgage delinquent when it’s at least 30 days in arrears but not in foreclosure. The company recorded 6.26 million homes either delinquent or in foreclosure last month.”
Keep in mind that this is the entire State of California. Buyers must stay focused on particular areas they are interested in. Better yet..stay focused on a development within that area. Look at the SOLD comps, the PENDING, and also the EXPIRED comps as those will tell you the true story of that development. These reports are very general..very similar to the Median Sales Price, which is virtually worthless.
There is always some truth to these Statistics however, so I’m sure we’ll have more Foreclosures in La Quinta and the Palm Springs Valley throughout 2012.
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La Quinta view on Eisenhower Dr.
La Quinta Real Estate is moving..and fast. I’ve been listing, and closing Short Sales for almost 5 years now and the beautiful thing about the not so beautiful world of the Short Sale is that I keep my finger on the pulse of the market. Where’s the “bottom?” The bottom is where the Buyers set it..nothing mysterious about that. It’s still very much a Buyers’ market in La Quinta as it is in the majority of California. Palm Spring and Palm Desert are also seeing a tremendous amount of closed sales. What’s going on?
Smart money is being invested in La Quinta real estate again. Where else to put it if you want positive cash flow, want to have a tangible asset, or simply have the wherewithal to finally buy that resort home in a warm winter location for retirement or as a vacation home? Canadians are investing in our Valley heavily..even so much so as to put together investment groups to purchase golf course projects, commercial sites as well as residential short sales, foreclosures or equity homes that make sense in the price/sf comparison.
La Quinta entry level homes can be purchased for $100,000 – $150,000. Fixers are less and prime locations are more, BUT these homes are Killer! I’m watching one now in La Quinta that will come on as a Foreclosure within the next week or so for one of my European investors. It will be put into a Rental program for the next 3 years or so, then sold. These are lovely homes that cannot be replaced for what they are being sold for! Newer (2002-2007) built homes, or remodeled older homes with views, location, good school districts and you just can’t beat La Quinta for it’s beauty.
La Quinta real estate has always been attractive…now it’s even more so.
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Captivate your buyers with your entrance
When a Buyer first sets sight on your property, they need to REMEMBER it! How do you do that? Here’s the trick..and it’s a simple one.
Put on your Buyers shoes, walk out your front door, close the door, walk to the sidewalk, stop and turn around. There, that’s it. Answer this question honestly, “What do I see?” Really see. Look at your front entry, your front door..everything. Look at it with your Buyer’s glasses…not as you see it, but as a Buyer will see it. Be honest.
Are there cracks in the walkway? Is the mailbox tilted or are numbers missing? How about your front entry or porch? What about the front door? Is it freshly painted, doorknob fresh and shiny, does it open easily? A Buyer will SEE this. Continue into the house with your Buyers glasses firmly in place. Now add the smell..is it fresh? Does it smell stale, like last night’s dinner, cats, dogs..what? Be honest with yourself!
Don’t convince yourself that it’s no big deal..it IS a big deal. Try to get into your Buyers’ head..see it through their eyes, smell it through their nose and you just might get into their check book too!
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Houses or Horses..shiny is good!
Comparing selling houses and horses..nuts, right? Not entirely. First impressions are first impressions. Therefore, appearance DOES make a difference!
Selling your house? Pay attention to the following..
1. Curb appeal: Make it pop! Clean, freshly painted front door. Flowers and color. Treat cracks in walkway and driveway. New mailbox. New door mats..use your imagination here.
2. Smells: HUGE. Clean and fresh means you care..
3. Appliances: Consider replacing them..stainless sells! Again..it translates for Buyers to “you care, and it’s maintained.”
4. Paint: Cheapest way to change the appearance and freshen up your home.
5. Stage it! Consider this as Buyers can imagine their own things in the home much easier this way.
Selling your horse? Let’s compare points…
1. Coat appeal: Make it shiny! Translation..a healthy horse.
2. Smells: HUGE. Be sure your horses’ teeth are taken care of, no illness or infections in mouth or feet or body.
3. Tack: As with appliances, clean, shiny tack (bridles & saddles) means you care and are invested in your property.
4. Paint??? No, but do be sure the overall picture is one of health, happiness, calm demeaner, shiny coat, clean equipment.
5. Stage it! Absolutely! New shoes, freshly clipped manes and tails, shiny tack..make your pony pop!
See..you can see the commonalities now, right??? Sales are sales..
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