Coachella Valley Equestrian Market Update as we leave 2017..
Equestrian Market Update: Land and equestrian farms in the Coachella Valley are continuing to sell. Even the summer heat did not run buyers off. Price/acre continues to rise, though not dramatically..just a slow, steady year over year increase. Date Farmers are continuing to invest in more land, new Ag projects are underway, the Pot Cultivation approved land sells quickly, and the MOST in demand Equestrian properties continue to be small farms with permanent homes on them. Few and far between, and when they come active..they do not sit long. Call me for your personal tour of Equestrian properties in the Coachella Valley. 760-285-3578.
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PGA West custom home on the lake $1,499,000
What’s Selling; what’s Sitting in Coachella Valley? It’s been a busy winter season here in the desert valley across the real estate spectrum. If you’re interested in the “median” price ranges and how they’ve gone up about 10%, this is a good update. Remember that the Median means half are selling for less that price/sf., and half are selling ABOVE that price/sf. I sell properties, (both homes and farms), from our Western Valley cities of Palm Springs, and Yucca Valley, to the Eastern valley cities of Palm Desert, La Quinta, Coachella, Indio and Thermal. Across the board, sales were strong in the Coachella Valley. To get your current property value, give me a call at 760-285-3578.
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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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Equestrian Property Specialist 760-285-3578
What IS an Equestrian Property Specialist??? Being a “Specialist” in anything usually means that person knows more about that subject than most of the rest of us do. To call myself a Short Sale Specialist, I had to get the required certifications, attend classes, but most of all…I had to List, negotiate and CLOSE dozens and dozens of Short Sales. I did. What does it require to call yourself an Equestrian Property Specialist? Years of experience with Horses first and foremost. There is simply NO way to learn about what a horse woman requires to maintain a horse properly, other than to live it. I made my living as a professional Polo Player for 18 years, basing my horse operations out of our local Eldorado Polo Club in Indio, California.
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Is the Canadian market heading down the road to a crash?
What’s the Canadian real estate market doing? I asked myself this question at the end of last season..about June of this year. Not having a huge number of Canadian buyers in my real estate sales, it was interesting to hear all the agents lamenting about the fleeing of Canadians from our market. We do have a large number of Canadians who purchased their Winter Vacation homes in the desert. Our gorgeous winters, and quick flights to Vancouver certainly helped this market. But also..Canadians LOVE a deal!! When we were in recovery from our own real estate bomb, which ended about 4th quarter of 2011, scores of Canadians and other International buyers and investors, as well as our own Fix-n-flippers, snapped up bargain properties. We have been moving laterally for the past several years in our price/sf. real estate closings, and our market has largely stabilized. An interesting read this morning in the Vancouver Sun, caused me to think about the Canadian real estate market and how it might affect our own Coachella Valley real estate market. Huge Tax Windfall highlights BC’s real estate dependence.
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Real Estate Sales are up in the Coachella Valley, California.
Kimberley Kelly, local Coachella Valley realtor, is having a busy summer! My colleagues report the same..activity is UP in our desert valley. In my 16 years of real estate experience in our Coachella valley cities, it seems that when the builders return to building New Homes, resale properties follow suit. My “Best Buy” homes under $100,000, to the luxury home on the lake at PGA West, to Equestrian Estates in high and low deserts, the buyers have returned! One of the new Palm Springs housing developments on the old Palm Springs golf course, has just received approval..Serena.
Recent Farm Sales, and continuing activity around investment Land, farms, and luxury Equestrian Estates, also signal that buyers are serious. If you’re looking to buy, Sell, or just get more information, give me a call at 760-285-3578.
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PGA West TURNKEY home on the fairway for sale; $1,450,000
Summer Sales are Sizzling in the Coachella Valley! I know it’s not because the air temperatures have cooled down because we are pretty much guaranteed triple digits every day. I suspect it’s more a leveling out of all the negative news from the first quarter of 2016..crashing oil prices, Asian Stock Market crash, Canadian dollar crash, and we cannot forget that it’s an election year. All these things combined to help buyers put on the brakes for the first Q of 2016. The second Q was smokin however, for our Coachella Valley summer sales, and the third Quarter summer sales are starting out the same. Desert Home Sales jumped approx. 12% in June. I’m finding that all my listings are getting activity, or are in escrow, from the ultra affordable Condos below $100,000 – luxury Equestrian estates at 3-4 million. With Loans lower than ever (thank you Brexit!), it’s a great time to buy the Coachella Valley, give me a call at 760-285-3578.
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Coachella Valley property
Desert Property Sellers are getting serious about moving their Coachella Valley properties as we near the end of the winter season, states Kimberley Kelly, local Realtor with HK Lane/Christie’s International. Some major price reductions have been taken recently for those Sellers intent on moving from their current properties, while others are re-considering earlier offers that they may have thought were too low! Our Coachella Valley Real Estate Market remains relatively stable, but our Inventory levels at most price points remains high. If you are looking to buy or sell in any of our 9 Desert cities, give Kim Kelly a call at 760-285-3578.
It used to be said that the HOT desert summers hindered buyers from touring properties for sale here in the beautiful Coachella Valley. However, recent studies show that almost HALF of our yearly sales now occur in the summer! Are summer sellers just desperate??? Not so fast. Many sellers who intend to use their Golf Course Properties, or Seasonal homes during the summer, pull them off the market. That used to be the norm. Now that our summer foot traffic is steady ALL summer, serious sellers continue to market, show, and negotiate deals on their desert property, throughout the year. Here are some terrific recently reduced, and aggressively priced, desert properties to consider:
- 80908 Calle Azul in La Quinta at Puerta Azul. The largest model at 1730+ sf., 3 beds/3 baths, reduced to just $345,000.
- 79300 Liga, La Quinta, located at The Citrus golf course, this fairway home has been reduced $50,000 to just $849,000.
- 80875 Via Portofino, La Quinta. Custom homesite at The Hideaway Golf Club. Listed at $1,199,000. BRING OFFER!
- 54475 Tanglewood, La Quinta at PGA West Palmer Private. 2 bed/2 bath Condo reduced to $249,000 TURNKEY FURNISHED, with rental history.
- 9574 Black Rock Cyn., Yucca Valley. HUGE reduction from $1,350,000 to $899,000!! Illness forces sale. Custom home on 14 acres by National Campgrounds.
Just Listed STEAL: 47395 Monroe St., #197, Indio, CA. $139,000. 2 bed + den and 2 bathroom Condo. CLEAN, upgraded, + detached single garage. WON’T LAST!
Perhaps the BEST deal in La Quinta is now TALLY RANCH, located at 55075 Monroe St., La Quinta. Sellers are serious, and are accepting offers! Custom home with 6,000 sf ft. Barn on 4 Acres. Private entry, secure and discreet, this estate is not to be missed! Call Kim Kelly at 760-285-3578 to schedule a tour. Take the tour here –
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Ferris Wheel at the Coachella Music Festival!
The Indio Real Estate Market is steady, states Kimberley Kelly, local realtor with HK Lane/Christie’s International. Home and Land prices have remained stable for the past 18 months or so, Inventory has remained steady, and price/sf. has also. Land and Equestrian Properties continue to draw interest. Commercial Land in the North Indio area is also seeing sales. Now that the Stagecoach Music Festival is over, the traffic will also settle back into it’s normal rhythm. Indio draws buyers through the summer months..no matter how hot! Our Coachella Valley can now claim that approximately 50% of our yearly sales come during our summer months. It’s not too late to list your Indio Home or Ranch for Sale; Call Kim at 760-285-3578 for your FREE property consultation and evaluation.
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Indian Wells offers gated & non-gated housing options
Indian Wells Country Club in Coachella Valley in Calif. market update. A luxury resort as well as a Residential community in our Coachella Valley, the city has only 5,165 (2013) residents. Small size; HUGE Amenities! Incorporated in 1967, Indian Wells became California’s 400th city. Known for it’s country Club Lifestyle, and it’s world class Tennis and Golf, the City is perfectly located between La Quinta to the East, and Rancho Mirage to the West. The city is famous for it’s Resident Perks..some of the best in the Coachella Valley! The Indian Wells Country Club is known throughout the Golfing community, as one of the best deals around; to live and to golf! If you’re thinking about buying at the Country Club, give Kim Kelly a call at 760-285-3578 to set up your personal tour today.
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