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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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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I’m feeling pretty good because the Palm Springs Valley in general and La Quinta in particular has been rebounding in both sales numbers, a dip in foreclosure home numbers and an actual increase in price/sf in small pockets of developments..yeah!
I try to keep a general feel for the Canadian markets…mostly Vancouver and Calgary real estate because I have so many Canadian friends and clients. This morning this article came online from the Calgary front page with regards to where the Real Estate market is heading in Calgary, Canada for 2012.
Basically saying they are predicting entry level homes to continue to move..entry level in Calgary is approx. $350,000 – $450,000..wow! Here our entry level is about $150,000-$200,000. Anyway, they are also predicting Value increases for homes at approx. 3% in 2012. Isn’t that fantastic? Luxury Homes in Calgary, as with Luxury homes here in La Quinta and the desert area, are moving rapidly. I have seen a huge uptick in sales in the over 1 million price range the last quarter of 2011 and it will continue into 2012.
Calgary has a stable economy, loan rates are low, and builders are pulling permits for single and multiple family projects. We are all intermingled these days and any City that is on the move to real estate recovery is going to affect our own local sales. Go Calgary!!
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Palm Springs, California is famous for it’s luxurious homes. What is unique about the City..what makes it stand out here in the entire Palm Springs Valley, is the number of non-gated, non-golf course, luxury neighborhoods there are! Palm Springs was, and is, the playground of the stars. Many of the neighborhoods were started in the 1920’s to 1950’s and the streets and architectural styles reflect that. Home Buyers looking for Luxury AND uniqueness are heading toward Palm Springs neighborhoods such as these top Five..
1. Southridge: The ultimate in seclusion and privacy, Southridge homes are located at the very tip top of Southridge Dr. and have startling down Valley views..for those who want to remain very private.
2. Smoketree: Smoketree Ranch is one of the oldest and most unique neighborhoods in Palm Springs. Only 93 residences are situated on the 700 acre ranch..centered around The Smoketree Stables and Cottages. Truly a piece of Palm Springs History!
3. Deepwell: Deepwell Estates is ideally located and steeped in tradition. Walled homes ranging from cottages to estates..Deepwell offers it all.
4. Old Las Palmas: Neighbor to Vista Las Palmas and The Mesa..all 3 neighborhoods offer unique homes built from the 50’s and many earlier. Mid-century Modern mixed with A-frames and Spanish Colonial..
5. The Movie Colony: A stellar location, with stellar credentials for those who want to feel and taste the Movie, Celebrity world of old. A very popular neighborhood.
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Neither of these Listings that I took were Short Sales or Foreclosure properties. Both Sellers just wanted them SOLD, and quick! Mission accomplished.
Property 1: 81731 Revoir Pl., Indio, Calif. Listed at $620,000. I brought the Buyer also. Cash..very close to List Price. In Escrow in 5 days. Set up to record by 12/2. How did it happen so fast? I had spoken with the Seller the previous year about my evaluation of the property and what it should list at. I took her an offer of $650,000. She disagreed and listed it at $750,000. A year later, she called me again. The property value had dropped a bit and my Buyer at $650,000 was gone. She agreed to my price, I contacted my suitable database of potential Buyers, wrote up a cash offer and she accepted. That idle year of “thought” cost her over $30,000 + carrrying costs. Listen to your List Agent if they are on top of your area..I KNOW what is selling.
Property 2: 82243 Waring Wy., Indian Palms Country Club. I took this listing after the Seller called me out of desperation. The Condo had been listed for over 200 days with 2 different Realtors. Why hadn’t she received even ONE written offer? I walked the property after the Listing expired, and told her it was not in a condition to sell and I was not surprised she hadn’t received an offer. The List Price was correct, but the property did not present itself in a manner that would induce offers. She listened. It only cost her $588 and I arranged all the “fixing”. A large tree was trimmed that had been cutting off the light into the condo. Furniture was removed, a couch replaced. I re-hung pictures, and bought brightly colored throw pillows, towels, hand towels, table centerpiece. Lastly, a HUGELY necessary deep cleaning by my cleaning crew. Then, and only then did I put my sign in the ground and list it. I had 2 full-price offers within 3 days! Did I reduce the price??? NO! The price was right/sq. foot. The presentation was wrong..and we fixed that. Cash offer to close in 3 weeks or sooner.
Standard, Equity Sales DO sell..if the Seller hears their experienced List Agent. It may cost you a little out of pocket, but the money going back into your pocket and the relief of no more monthly carrying costs is worth it!
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What??? This doesn’t make sense when you read the Palm Springs Valley Foreclosure numbers. Since October of 2010, Foreclosure Filings in the Palm Springs Valley and La Quinta area have actually declined approximately 32%. So, why would two of the most expensive cities in the desert show increases in their Foreclosure numbers?
Actually, it makes sense. The pricier, more stable, built-out areas have held up better than the newer cities that saw so much building during the building craze that hit 2002-2006. Therefore..the older, settled, and yes, wealthy cities of Rancho Mirage and Indian Wells were the only 2 cities that showed increased Foreclosure numbers.
Indian Wells: Foreclosure filings were UP 85%. But, that means only 13 homes total.
Rancho Mirage: Foreclosure filings were UP 36%. A total of 64 homes total.
La Quinta filings were down 35%, Indio was down 10%, Palm Desert down 24% and Palm Springs down 50% in total Foreclosure filings.
Reduced Foreclosures, but…an increase in NOD’s (Notice of Defaualts}. That means that Short Sales and Foreclosures will most likely be around for a few more years, despite the 12 month declind of about 32% from last years numbers. Still great buys in all the Palm Springs Valley!
image: garrigusrealestate.net
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The Canadians are here..the Canadians are here! That’s what we locals say every Winter now..it’s changed from “The Snowbirds are here..” As a largely Resort Community, we are very happy every winter season when out of towners flock to our warm, winter weather. As a local, I love the slower pace of life, the lesser levels of traffic and the “local” feel to dining and dancing during the hot summers. But..I also LOVE the winter influx of our seasonal friends.
Vancouver, and Calgary, Canada, seem to be sending droves of Buyers to our extremely affordable Valley. The harsh Canadian winters become a distant memory once they step off the plane, and the warm temperatures welcome them to the Palm Springs Valley. With average winter temperatures of approx. 80 degrees and nightly lows of only 40-50 degrees, it’s a perfect place to spent your winter months, vacation, or retire in. Many of us live here year round and I for one, find that my blood is thinner than my Canadian friends! I’ll bundle up in a sweatshirt, but my Canadian clients will be sporting golf shirts or a light cotton tee!
Along with Canadians, who know a deal when they see one, we are seeing a huge increase in International Investors. Buyers from China, Asia, France, England..pretty much everywhere are ending up in the Desert. Our Real Estate Values have never been so good, and with golf, tennis, hiking, equestrian events, dining and dancing..there just isn’t much to miss!
The building mania of 2002-2006 hit our valley hard. We were a perfect storm, with land relatively inexpensive and lots of it, developers saw an opportunity and took it. That means that when the downtown hit..2007-2010, prices fell to 30-50% below the peak. It doesn’t make much sense any more to build a home..even an extremely custom one, when you can buy a resale with ALL the bells and whistles for a lower price/sf than a builder can build it for! What???
If you are waiting for a great time to invest in our Palm Springs Valley real estate, now is it. Luxury homes are selling like crazy and are expected to move even faster during 2012. Why? People that buy Luxury homes are able to buy up to 3x as much house than they can at home..whether it’s Canada or China. Plus..where else to park some money where you can actually enjoy it?
Come on out and visit..you will most likely stay for a long while!
image: photoshelter.com
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