HITS Thermal update:
Jumpers are preparing for the desert HITS show in Thermal, CA.
The Horsey season is about to begin here in the Coachella Valley. Both of the International Polo Clubs, Eldorado and Empire, are healing from the Desert Trip concert. What a way to make Grass NOT grow..the tromping of thousands and thousands of feet! But..Empire has dumped tons of sand on their fields to prepare them for the 2017 season, and Eldorado is watering heavily to encourage the grass to take root and flourish! What about the HITS Thermal horseshow grounds and schedule for 2017? This is going to be a storming season for Land and Equestrian Property sales. Give me a call at 760-285-3578 if you have a buyer wish list, or if you just want to find out what your property is valued at.
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Market Update; Coachella Valley
A ranch style home for Sale in the La Quinta, California Market
Coachella Valley home prices AND sales rose year over year in October of 2016 VS the same month in 2015. This is according to the data from the real estate research firm Corelogic DataQuick. There were 754 sales in the month of October in 2016. The median price was $300,000. The median just doesn’t mean that much to me, since it means that half of the sales were higher than $300,000, and half are lower than $300,000. It still remains a great time to be a Seller. I have to say that though the inventory numbers are still up there, the truth is the GREAT locations, preferred sun orientation, or highly upgraded properties still sell quickly.
Resale homes seem to be preferable to New Homes this year. New construction sales continued to stand still. Sales of new homes have dropped by double digit percentages for the last 7 months. The drop from last year this time in the new homes market is approx. 44%! That is astonishing. I think the higher inventory numbers help this statistic, since buyers will tend to go to the best “deal.”
Price/ square foot varies greatly through our Valley Market
Golf course homes in the La Quinta Market prices vary greatly
Generally speaking, the price/sf. of each development within each of our 9 desert cities, has not changed much from last year. It’s either stood still, or dropped a bit. Corelogic found that our Coachella Valley median price/sf is $167. In my world that is a REALLY good value. I don’t see that low of a price/sf., other than in very select communities, such as the La Quinta Cove, North La Quinta, some in South Palm Desert, Cathedral Cyn. Cove..definitely NOT the norm within the gated communities as a whole. The median comes from the very low price/sf of $109/sf in Desert Hot Springs, $228/sf in Palm Springs, and ranging up to $700/sf at Bighorn and Madison Club in La Quinta.
Price/Acre in our Eastern Coachella Valley market
Land Sales in the Eastern Coachella Valley continue to increase. It is not a crazy, hot market, such as in 2005/06, when the developers were scooping up large swaths of land at $100-$175,000/acre. However, the price/acre for Vacant Land, Agricultural Land, and Equestrian Properties is quite steady. As with Residential properties, the closer a farm/land is to the city amenities, the higher the price/acre. As a buyer moves more Easterly, through Vista Santa Rosa, Indio, Coachella and into Thermal, the price/acre drops. Price/acre varies from approx. $20,000 to approx. $75,000/acre for vacant land that has water, fencing, perhaps being leased for farming. Add a house, add a barn, add other amenities, and the price/acre is closer to $45,000/acre for a GREAT buy! Take the tour of Chocolate Mountain Farm in Thermal California. 20 Acre horse layup farm, Ag Water Plus a private Well (installed in 2016), and a small barn…
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Do you want your Pool on the fairway, or more private?
To live On or Off Fairway, is the choice for buyers looking for golf course homes to buy. The Coachella Valley offers a myriad of options for people choosing to purchase a home in a Golf Course community. All of our desert cities offer golf course communities. Some cities like Indian Wells and La Quinta offer both Gated and Non-gated Golf course communities to choose between. La Quinta, our newer desert city offers many golf enthusiasts choices, including the Public course, Silver Rock Golf Course. If you’re committed to buying your new home in a golf course community, there will be several location options within the club itself.
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La Quinta Estate slashed by a half million dollars!!
Luxury La Quinta Estate has been SLASHED in price! Sellers are relocating and must sell this year! 55775 Monroe St., is a Luxury 4+ acre Estate on the Eastern border of La Quinta. Double gates off of Monroe make it serene, private and secure. Somebody is going to get a GREAT deal. Looking for a killer Event venue near to the International Polo fields for Coachella Music Festivals? The possibilities are only as limited as your own imagination..local realtor, Kimberley Kelly, thinks this is quite possibly one of the classiest pieces of land available in La Quinta. Call for your personal tour today..760-285-3578.
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Lakeside Living at 55775 Pebblebeach, La Quinta, CA.
Looking for a Luxury Lease Home at PGA West? Now is the time! With two weekends of Desert Trip Music Concerts added in October, Kimberley Kelly, Local Realtor states that we now have 5 weekends of JUST Music Festival Income! My seller is parting with 55775 Pebblebeach, La Quinta, CA. because she lives in Australia, and failing health will keep her from her usual 2 months in the warm desert winters. The Luxury Lease business is booming in the Coachella Valley. Homes are leasing throughout the summer, especially if the home is located in a Golf Course community, such as PGA West. The reduced summer golf round fees allow golfers to try all the golf courses they can’t in the peak seasons, without getting backed up on the tees. Call for your personal viewing today! 760-285-3578.
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Wide Open Spaces in the desert
Are Chinese Investors headed our way??? It would seem that we are on their radar. Chinese cash is flooding American Real Estate markets. I have many clients from Vancouver, B.C., and have been hearing of the influx of big money into Canada for the past several years. The Coastal cities, San Francisco, and New York and Manhattan of course, have seen their share of mega dollars from the Chinese as well. Texas appears to be a new frontier, according to some because of it’s wide open spaces. Hmmm…is desert land in our Coachella Valley on the Chinese radar, asks Kim Kelly, local Realtor specializing in Land and Equestrian properties in the Coachella Valley.
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55775 Pebblebeach at PGA West, La Quinta, CA.
The Stadium Course at PGA West in La Quinta, California, is the site of this spectacular Custom Home! Kim Kelly, Coachella Valley Realtor, says this incredible property will be Available to tour after the Music Festivals, This Lake front property is as unique as it is functional. Offering approx. 4,600 sf., 3 bedrooms/4 bathrooms in the main home, PLUS very large detached Casita with kitchenette. A circular driveway and a triple car garage provide plenty of off street parking for your guests, and when they pass through the custom, wood carved entry gate into the beautiful courtyard, they’ll feel like they’re truly on vacation. Call Kim Kelly, Coachella Valley Realtor, to set up your personal tour..760-285-3578.
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79300 Liga in The Citrus, La Quinta, California
OPEN HOUSE TOUR of 15 Homes for Sale at The Citrus Club in La Quinta, California. Saturday, February 27, from 1-4 pm. My Listing at 79300 Liga is included, and it’s always more fun and educational to tour LOTS of Homes at a Club if you’re thinking of buying. The Citrus Club, OPEN HOUSE GALA, is a great way to discover the Club, and there will be a clubhouse tour available from 3-4 pm. The Citrus is a friendly Golf Club centrally located in La Quinta, California, offering low HOA fees of approx. $375/mo., and Golf Membership is not mandatory. For directions or more information, give Kim Kelly a call at 760-285-3578.
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79300 Liga in The Citrus, La Quinta, California
Well priced Fairway TESORO II at The Citrus Club in La Quinta, California. 79300 Liga is a beautiful interior, very desirable location within the club. No street noise, great fairway to mountain views, and golf ball free. The Tesoro II, is one of the most popular floorplans at The Citrus, and this one is listed at just $885,000. The sellers have recently remodeled this home by painting the exterior and interior, adding retractable screens, updated fixtures, and most importantly..remodeled COMPLETELY the Pool! To schedule your tour, Call Kim Kelly at 760-285-3578.
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Moving to close; Short Sale at PGA West in La Quinta
Another Short Sale moving to close! As with most businesses, experience DOES count! An experienced Short Sale Agent is imperative to a successful transaction. Many banks now demand Certification by your agent as well, and I am certified in both SFR (National association of Realtors certification), as well as HAFA, (Gov. Short Sale Program). This beautiful Masters home at PGA West has two notes with Chase. Listed at $1,556,000 and with a solid offer within 21 days, Chase has now accepted the offer, and we are moving along to CLOSE! If you are feeling like you may need to get out of your mortgage, or just want to explore the Short Sale guidelines of your personal situation, give me a call for your FREE CONSULTATION at 760-285-3578.
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