We get spoiled with our farmers’ market being right here in Old Town La Quinta – it’s such a unique and quaint venue for surveying all the gorgeous produce of the season… as well as flowers, breads, live plants, organic cheeses, farm fresh eggs and other irresistable goodies.
And while you’re there at the Market, you must of course partake at the Old Town Coffee Shop – sitting outside sipping your latte, munching on a delicious muffin and watching the parade of people and adorable dogs go by. It’s relaxing, it’s beautiful, it’s just the best.
And then … summertime comes, and well, the Certified Farmers’ Markets in La Quinta and Palm Desert shut down because of the heat. But all is not lost, if you don’t mind driving over to Palm Springs on a Saturday morning. The Market has found an indoor venue there and will continue their weekly offerings of incredible fresh local items.
The Market will be held on Saturdays at the Palm Springs Pavilion at 401 S. Pavilion Way (you’ll have to Google it). The hours are 8am to 12:30pm.
For more info, call 760-898-5250 or 760-880-4917. You can also go online at certifiedfarmersmarket.ning.com
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Palm Springs Valley home sales are trending upward, reports show. Meanwhile, countrywide sales are declining. Home sales here in our valley rose 9% last month compared to April 2011. Median prices in the valley -meaning half sold for more, half sold for less – rose up to $218,000 . . . from $210,000 in March, $195,000 in February and $165,000 in January – – – according to Data Quick.
California Desert Association of Realtors compiles home prices differently from Data Quick, basing them exclusively from the Desert Area MLS sales. It listed median home prices at $230,000 for single family homes and $194,500 for condominiums.
Home prices have been boosted, in part, by the drop in availability of low priced properties such as foreclosures, short sales, etc. and regular homes. This low inventory encourages the sale of the good homes . . . and they sell quickly. So it’s not just that the lower priced homes are selling . . . the high end market is improving also.
Experts believe that record low interest rates, housing affordability and an economy that continues to recover will mean a steady improvement for the housing market through the end of this year. Some see housing prices going up 10% between now and a year from now.
So if you’re thinking about buying a new home, your window of opportunity for best prices and most affordable loans could be a small one. Your local realtor, Kimberley Kelly, has been helping clients Buy and Sell homes in our Valley for 11 years. Her track record speaks for itself . . . feel free to give her a call for a free consultation regarding your real estate needs! Call her now at 760-285-3578 or email her at kjkpolo@earthlink.net. You’ll be glad you did !!!
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Even though the number of foreclosure filings dropped last month in California, a real estate tracking firm has reported that Riverside County had the highest foreclosure rate in the state. Countywide, 1 in every 208 households was found to be in some stage of foreclosure – REOs, auction sale notices or mortgage default notices – for a total of 3,850.
Even so, the number of filings was still 12% lower than in March – an approx. 28% less than the foreclosure rate in Riverside a year ago. Nationally, there was a 5% decline in April when compared to March… and 14% less than a year ago. The tracking firm found that this is the lowest foreclosure rate recorded since July of 2007, before the bubble burst.
Last month, California ranked second in the nation in number of foreclosures – with 39,008 filings. This was 14% less than the number in March and 30% lower than last year – when 1 in 351 homes were in default in the state.
The highest foreclosure rate nationwide last month was in Nevada, with 1 in 300 homes in default. California was second, with Florida right behind it with 1 in 364. Number 4 was Arizona with 1 in 377 and follow that with Georgia at Number 5 with 1 in 398 homes in foreclosure.
Looks like we’re not out of the the foreclosure woods yet . . . could this rise in the foreclosure rate be from banks and mortgage lenders processing the foreclosures faster and more efficiently??
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Yes, you heard it straight !!! California is continuing to push to prevent foreclosures. . . and Fannie Mae and Freddie Mac borrowers may see their mortgages shrink through principal reduction.
A significant change is being made by state officials to the Keep Your Home California program. They are dropping a requirement that banks match taxpayers’ funds when homeowners receive mortgage reductions through the program. Previously, the program was facing lackluster participation and lender resistance, but now that the requirement that banks provide matching funds, well . . . let’s just say that now the banks are more willing to participate. Hmmmm . . ..
Hopefully, increased participation by Fannie Mae and Freddie Mac will provide a major boost to the Keep Your Home California program. Fannie Mae and Freddie Mac own about 62% of outstanding mortgages in California, but neither institution has elected to participate in principal reduction due to concerns about adding additional costs to taxpayers.
Fannie Mae and Freddie Mac were seized by the Feds in 2008 when bordering on bankruptcy – we, the taxpayers, have provided $188 billion to keep them afloat. These two institutions last year made it their policy to participate in state-run principal reduction programs such as Keep Your Home California – as long as they or the mortgage companies that work for them didn’t have to contribute funds.
Housing advocates have argued that reducing mortgages of underwater borrowers would boost the housing market by giving incentive to homeowners to keep paying off their loans – And would reduce foreclosures by lowering the monthly payments for underwater homeowners, giving them hope that one day they would again have equity in their homes.
Other requirements of financial institutions will be to make other modifications to loans such as reducing the interest rate or changing the terms of the loan. The changes to the Keep Your Home California program will roll out in early June . . . so Hang In There, underwater borrowers . . . sounds like help is on the way !!!
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Palm Springs has many cool neighborhoods with much history to write about – Vista Las Palmas is one of those – a scenic and historic Mid Century community nestled up against the San Jacinto Mountains in the northwest side of Palm Springs.
A little of the history – in the late 1950s, a father and son team of George and Robert Alexander of the Alexander Construction Co. built over 1200 “tract” homes designed in what is now called “Southern California Modern” style in the Palm Springs area.
For the times, the homes they built were very modern and included soaring rooflines with elegant minimalist facades – inside they boasted post and beam construction, walls of glass and spacious, open floorplans, capitalizing on the Sou. Cal. lifestyle which flows from the inside to outside.
The Alexanders began constructing homes in the southeast end of Palm Springs, but as they grew more successful, they were building in the Vista Las Palmas area on the northwest side of town near Las Palmas where the wealthy Hollywood crowd had been building Spanish Revival homes.
Also, the firm of Palmer and Krisel built about 330 homes in Vista Las Palmas. Krisel is known for his iconic “butterfly” roof design and their architect is responsible for the distinctive “Swiss Miss” A-frame style found there as well. The mix of design styles in Las Palmas has created one of the most architecturally diverse, yet cohesive communities in Palm Springs.
Also to be mentioned is “The House of Tomorrow” located in Vista Las Palmas- a futuristic style house for the time. It was featured in Look Magazine in 1962 and set a new standard for luxurious living in Southern California. The home became the secret getaway for Elvis & Priscilla Pressley in 1968 – it was where they honeymooned.
In the 1950s, many celebrities from Hollywood designated their homes in Vista Las Palmas as their desert retreat. Some of the elebrities who once lived and played there include Marilyn Monroe, Dean Martin, Peter Lawford, Debbie Reynolds, Joan Collins, George Hamilton, Kirk Douglas, Dinah Shore and more.
Today, Vista Las Palmas has become a symbol of Mid-Century Modern design for the distinctive homeowner who wants the relaxed lifestyle of the desert. Owners include full-time residents, Snowbirds and weekenders from nearby Los Angeles. The residents in this iconic picturesque neighborhood share an interest in preserving the history and architecture that is unique to Palm Springs and so perfectly complements our desert landscape here.
Should you be interested in looking at Homes for Sale in the Vista Las Palmas neighborhood in Palm Springs, give Kimberley Kelly, Realtor with HK Lane a call and set up an appointment today.
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Avenue 52 in Indio
The Stagecoach Music Festival in Indio, Calif. is becoming known as THE Country Music place to be. Entering it’s 7th year, it is known as “California’s country music festival.” What a name to live up to..and it does! It is expected that this year, roughly 55,000 people will travel to Indio from all over, to camp out and witness some of Country’s most famous faces. This years lineup includes stars such as Brad Paiseley, Jason Aldean, Blake Shelton, Miranda Lambert and even Sheryl Crow.
Living in the nearby city of La Quinta, is is very obvious starting about Monday of the weeks before the Festival..that the Cowboys & Cowgirls are a comin! RV’s, camper trailers, pick up trucks, Dualeys, every sort of caravan sleeping rig imagineable pulls into the City of Indio. Motels and Hotels are filled, rental homes and rooms are booked, and the lines at the grocery stores are longer. Does it irritate me? A little bit, but the joy of knowing this Festival at Empire Polo Club is putting Indio, and by extension our Eastern Valley on the map for so many, far outweighs the irritation.
To quote Goldenvoice president, Paul Tollet, who founded Stagecoach in 2007, “Just the whole Bakersfield sound. The whole Flying Burrito Brothers-era of country rock out in the desert. There is something unique about that sound that IS California.”
The Stagecoach festival runs through Sunday. Sold out, but there are always people willing to sell a ticket or two..
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The Palm Springs Valley seems to have grabbed the attention of a residential development firm called Alta Verde Group out of Beverly Hills. The firm recently acquired 3 new master planned communities in our desert to the tune of approximately 300 lots located in Alta Verde Coral Mountain in La Quinta, Monte Sereno in South Palm Springs and Escena Resort in Palm Springs.
The Alta Verde Group, led by Andrew Adler, is an award-winning firm led with a history of successful large scale, award-winning real estate endeavors ranging from urban projects to gated communities, from Texas all the way to California. Alta Verde is designing its new developments in the Palm Springs Valley to accomodate the emerging next wave of second home and retiring baby-boomers looking for something different from the cookie cutter McMansions of the last 20 years. The firm’s driving motto is “Where Design Matters” … and they have teamed up with a leading international architect in LA to create these new developments which will focus on open space and contemporary elegance.
This firm is also environmentally savvy, designing homes that have flat roof designs which are pre-set for solar, car-charging electrical wiring, as well as other energy efficient designs that result in savings for the homeowners.
Adler says about his company’s projects in the Palm Springs Valley, “It’s rare when this level of style, features and location come toether at the price points we have created . . . We’ve taken the kind of spectacular architecture you would only find in vastly more expensive homes, and brought it down to scale, so that it is within reach of a larger populace base.”
Sounds like a new generation of residential development in the Palm Springs Valley is about to get underway !!!
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Escena, a Mid Century Contemporary styled community in Palm Springs, is just another long-delayed development in our Coachella Valley currently experiencing a revival. Having debuted back in 2006, Escena held much promise with its offerings of an 18 hole Nicklaus golf course, fantastic clubhouse and dining facility and two innovative and modern-styled home developments by Lennar. It is ideally close to downtown Palm Springs, the Palm Springs International Airport, Interstate 10, Highway 111 and more (and let’s not forget its stunning views of Mount San Jacinto). And then, well you know the rest of the story . . . the economy took a nose dive.
The exciting news is that Alta Verde, the new developers at Escena, are planning this summer to begin selling Escena’s new homes, ranging in size from about 2,200sf to 2,800sf. These homes carry through, as one would expect from a modern, with open floor plans, clean lines and lots of glass . . . bringing the outdoors in. These homes are priced from the low $400,00s.
Alta Verde’s new homes in Palm Springs at Escena are different . . . different how, you ask??? Well, different enough that the new developers claim their homes boast modern space planning and design with a new edge, coupled with building technologies of today. They are calling their homes “This Century Modern.” Brilliant.
I’m Looking forward to previewing this new generation of home, “This Century Modern,” when they become available in the summer. Just part of Modern architecture’s evolution and changing with and for the times. History in the making.
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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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Two Bunch Palms Resort has been sold out of receivership to an investment group of Hollywood people. All of the new owners have been visitors to the Spa/Resort for many years and hopefully understand the uniqueness and sense of spirituality that presides over this magical place.
Two Bunch does need updating..
Any time a Facelift is considered, a doctor will always tell you that the original isn’t “lost, just different..and better.” Hopefully, that’s what will happen here. Two Bunch is a historical site, a draw to our Northern Valley and the mineral hot spas are unique and addictive. Healing waters, calming atmosphere, a touch of Hollywood thrown in, but entirely unique to Desert Hot Springs. Just one of the many venues unique to our Palm Springs Valley.
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