La Quinta Cove short sale just CLOSED!
Another Short Sale in La Quinta..CLOSED! This lovely single family home in the La Quinta Cove, was a primary residence. The Seller relocated and is relieved to be out of the high mortgage payments.
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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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I am not a tax professional nor an attorney. I am posting this because he IS, and gives a very clear, concise understanding of the tax non-implications of a Short Sale for both Primary and Investment properties. Check it out!
http://www.youtube.com/embed/6901YZhzqII
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Well, it’s called fearlessness . . . ‘the quality of mind enabling one to face danger or hardship resolutely.’ That is the dictionary’s definition and that pretty much sums up what my friend Kim Kelly is all about. This is a guest blog and I am writing about Kimberley Joy Kelly – realtor for HK Lane Real Estate in La Quinta AND longtime pro on the polo circuit and trainer of polo ponies.
In this month’s issue (April) of Palm Springs Life, there is an excellent article entitled “Chicks With Sticks,” spotlighting Kim and another local female equestrian and their careers in the male dominated sport of polo. I can’t talk intelligently about the game of polo, as I haven’t spent a lot of time around horses and have only observed the game as a spectator. All I know is that from knowing Kim personally, the fearlessness she displays in her facility as a polo player, a game with obvious risks and dangers, is the same fearlessness she displays when running her real estate business. No challenge is insurmountable to her, short sales don’t daunt her in the least (she’s had five years of experience in short sales with an excellent track record – and she knows how to deal with the banks !!! nuff said). She amazes me, her level of commitment and focus to whatever she puts her sights on.
I know what I’m talking about because I speak from personal experience – Kim represented me and my fiance when we bought our home last year. She was on top of everything, making sure we got the best price and that the confusing whirlwind of escrow, loan procurement, etc. went as easily and smoothly as possible. She took amazing care of us, treating us every bit as well as she treats her horses. And that’s saying something, because she LOVES her horses and intuitively knows and responds to their needs.
Okay, here’s your answer to the question “What does a polo player and a real estate agent have in common?” And the answer is . . . Kimberley Joy Kelly.
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I often hear from a potential buyer..”I want a deal, you know..a Short Sale..something like that.” Let me make this really clear..the Short Sale “deal” is NOT always the best deal for you.
If you are considering buying a Short Sale, be sure your Agent understands how to handle the deal. It’s not just writing an offer and submitting it. The work starts BEFORE submission.
- Who is the List Agent?
- How many Liens?
- What is the Fair Market Value and what is the home priced at?
- How delinquent is the Seller?
- How accommodating is the Seller?
- Does the List Agent really UNDERSTAND the process?
- Who are the Lenders involved?
- Where in the process is the List Agent?
Even if all the questions are answered positively, there is always the issue of the incompetent negotiator. You have no way of knowing who your deal will be assigned to by the Lender..and that is crucial. A good negotiator can move a file to close within 90 days. A bad one can slow the deal down for many, many months. Are you tough enough for the Short Sale process?
Compare that Short Sale very carefully to the Standard Sales for comparable properties. $5-$10/sf more may be worth paying to know when you will acquire the home and when you can actually move in. Tread carefully when buying a short sale….that “deal” may not be such a good “deal” after all…
How much do you LOVE that short sale???
Just Listed in the La Quinta Cove. 4bd/2ba home built in 1997. $148,000. This home is cute as it could be with many Seller installed upgrades. The Seller is leaving window coverings, custom fans and custom lamps. She installed 18 by 18 inch ceramic tile floors and hardwood floors in three of the four bedrooms. The 4th bedroom has engineered wood floors and is lovely as well. Her father even installed a custom, wood carved mantle over the fireplace! This is a great family home.
This is Seller’s primary residence, she has a true hardship (disability), and only one loan with Carrington Mortgage, LLC, so we’ll get this baby done!
If you need an experienced Short Sale agent to help you understand the ins and outs or list and CLOSE your own Short Sale, give me a call!
Slab granite in kitchen!
custom hardwood floors!
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Indio once was home to date groves and citrus orchards – Avenue 49 ran right through them. Now the fruit trees have been replaced by several gated communities. The Orchard is one of them.
The Orchard is off of Avenue 49 between Madison and Jefferson Streets. The Tuscan style entrance gate area sets the theme for this intimate 93 home enclave. These one and two story homes carry through the Tuscan theme, with common areas boasting vine covered arbors and mesquite trees for shade.
The lots at The Orchard are spacious, each is from 1/3 to 1/2 acre, with home sizes ranging from 2,500 to 4,200 square feet. Priced at $800,000 to $1,000,000 five years ago, these beautifully appointed homes are now selling for $350,000 to $450,000.
There is much to love about The Orchard in West Indio. It is close to the Eldorado and Empire Polo Grounds, JFK Hospital, schools, shopping – and with Highway 111 just 2 miles away, the I-10 freeway is 6 miles away. Maybe it’s time for you to consider this outstanding community while looking for your new home !!!
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