PGA West in La Quinta; huge demand!
Coachella Valley real estate update for April 2021. Pretty much the same patterns as the last few months emerged in April as well. Historically low inventory and extremely high demand continue to squeeze the market. Prices are going up, though certainly not sky rocketing here in the Coachella Valley, from Palm Springs proper, through the mid cities to the Eastern valley areas of Vista Santa Rosa, Thermal and Coachella. The sales pace is strong..if you price your home or equestrian estate properly, it WILL sell. Kimberley Kelly, a desert resident for 30 years and a Realtor for 20! 760-285-3578.
Sellers pretty much don’t have to discount their sales prices IF they price the property right. Buyers set the market values, and even though those values have risen, they still want to feel like they’ve gotten a fair shake on their new property..whether it’s vacant land, an equestrian estate, a golf course home, or a non-golf course home. Loans are still cheap, hovering around 3.2%. Anytime loans are that low, coupled with low inventory, buyers are going to have to pay more. I suspect we will see more listings coming on over the summer and into next fall, so if you miss one, don’t give up. Tell your Realtor to keep their eyes open and shoot you anything that fits your requirements.
April was slightly below March of 2021 as far as total closed homes, and yet there was still an increase of 17% in sales numbers from April of 2019. There are 658 active listings in the valley, down 77% from 2020. The average carrying time, days on the market is now 48 days, down 45% from 2020. There were 1228 closed sales, which is up 119% from one year ago, and we only have .5 months of inventory on the market, down 90% from 2020. If you see something you like, jump! If you want to sell and get a very good price, List!
This beautiful 5 acre farm with a custom home built in 2006 + a guest cottage and a 4 stall barn, is located about 35 minutes from Palm Springs, and is offered for $1,295,000.
Contemporary home on 9 Acres for sale in Thermal-always beautiful to show!
Did COVID affect coachella valley sales? The short answer is Yes! The hows and whys are a bit more involved, but it does feel to those local desert dwellers and realtors, such as myself, that it has affected our sales in a positive way. We were on the way to strong sales before it hit due to low inventory in every price point, but when the Virus hit, even more options presented themselves to buyers..thereby influencing sales. For a FREE consultation on your property value, land, equestrian or residential, call local realtor, Kim Kelly at 760-285-3578.
When the virus first hit, the phones quit ringing..for everything, and real estate was no exception. However, after the first 6 months or so, we started seeing an emerging trend..buyers were returning to look. Then they weren’t just looking, but they were buying. Year round homes for those who had always thought about it. Vacation homes for those who love it here in the Coachella Valley, and suddenly were craving more distance between their neighbors. Investment properties. Then the land and equestrian properties because land is still cheap, and again..space.
A year later, inventory has been ravaged in all price points. Residential properties sell almost as soon as they are listed, often with multiples, and this trend is not limited to any one price point..all are selling. Low inventory coupled with historic lows in mortgage rates combined to drive up sales through the Coachella Valley cities. Another factor is that even though our prices did go up, they did not sprint up. Even now with the low inventories, it is still a reasonable price/sf., and price/acre that is helping to drive continuing sales. Summer is a great time to sell your property, and our summer sale numbers traditionally beat the seasonal numbers..contrary to what many people say. Take a look at this beautiful equestrian farm that would also make a great event facility in Thermal, California. Just a couple miles from the Coachella Valley music festival grounds sits Valor Farm..
View from the arena at 10834 Union St., Cherry Valley, CA.
Coachella Valley real estate update: First Quarter, 2021 is over, and the market is still on fire here in the Coachella Valley. It feels quite different to me than the last cycle of real estate here in the Coachella Valley..because it is! I was selling new homes in 2001-2005. Screamed up, then the devastating crash that was felt pretty much everywhere, with our Coachella Valley being no different. What are the differences between then and now? For local real estate information or a free property consultation, give Kim Kelly a call at 760-285-3578.
The Coachella Valley market continues to outperform the same period 12 months earlier. Sales picked up while inventory cratered. Huge difference now than last cycle. In 2005-2007, the peak of the last cycle, sales were mostly driven by people buying home with little to no credit, on loans with little to no down! EEK! Now, fewer home son the market coupled with higher demand has created more competition for what homes are available.
Recent news about life getting closer to normal offers a glimmer of hope as far as inventory numbers. It is anticipated that alot of sellers will be putting their homes up for sale in the coming months. It is pretty much a sellers market right now, BUT, as more homes come on the market, it is going to become even more important to present your home in peak condition to guarantee that it will garner the highest price/sf. amongst it’s competition. Local information is critical!
Take the tour below of this incredible 5 acre equestrian estate in Cherry Valley, CA. Offered at $1,300,000, and with two homes, a barn, RV parking, huge arena and spectacular views..
A perfect Coachella Valley Event site on 9+ acres.
Coachella Valley Event Sites for Sale. What is an event site? What do people use an event site for? What makes a good event site? The Coachella Valley, with all it’s special events, including the Music Festival, is a premier site for Events of all types. The West valley, Palm Springs itself, draws a particular set of events, and the East Valley tends to draw the interest of another set. If you think you might be interested in finding an event site in the Coachella Valley, give local Realtor, Kim Kelly a call at 760-285-3578.
What Types of Events are held at Coachella Valley Event Sites? Events like Weddings, Quincineras’, Fathers’ Day parties, Birthday parties, Retirement parties, Golf Groups, Music Sponsored events, Equestrian participant events, Corporate Sponsored Events..pretty much anything you can dream up a party for!
What Size is a typical Event Site? Event sites vary as much as personal homes do. Typically, an event site that would generate the most money, is one with lots of room. Add to that, location and views, and it becomes even more desirable. Properties of an acre to five acres can be hugely requested.
Do Coachella Valley Cities allow Events? Check with the City you are thinking of buying in. Because it’s so popular here in the valley to rent rooms, or entire homes, for short term rentals, or events. There may very well be permits required for large events.
COACHELLA VALLEY EVENT SITES FOR SALE
52450 Monroe St., Indio, CA: 9.4 acres, gated, secure and private, Three Thumbs Up Estate, is spectacular. A perfect private Equestrian Residence, or a magical event site, including a main home of approx. 5600 sf, guest home of approx. 1200 sf, guest apartment with 2 bedrooms, a 12 stall barn, private orchard, private pitch n putt golf course and a private lake and waterfall.
SOLD! Beautiful Citrus Farm in Thermal, California.
SOLD! Coachella Valley farm. Another Coachella Valley Farm sold! I represented the Buyer on the purchase of this gorgeous Citrus farm in Thermal, CA. What fun! My client had decided to build a family estate that would be his dream desert retreat, and also a place to have family gatherings during the Coachella Music Festival. But first, we had to locate the perfect location. If you are looking to buy or sell in any of the desert cities in the Coachella Valley, call local resident Realtor, Kim Kelly at 760-285-3578.
Homes in our Coachella Valley are finding their footing after the impact of the Corona Virus. Many Sellers have decided to pull their homes off the market and wait to see how the season looks. I’ve had multiple buyers pull back and decide to wait..never sure how things will go, so not sure that’s a good idea. I believe it’s best to base your purchase on what you REALLY want. If it’s not exactly what you’ve been waiting for in terms of location and Sun and views, wait. The homes listed that DO offer those key things, sell very quickly..in all price points.
Coachella Valley Farm Land on the other hand is still moving. My guess there is that there isn’t that much of it left, and the price/acre has not accelerated through the roof as it did in 2005-2006. Price/acre is fairly consistent based on location, nearness to amenities, and projected use by the buyer. My client for this farm wanted to be in ONE area for his Coachella Valley Farm, so inventory is extremely limited. The seller was in a position to sell, and so timing was perfect. Take my little walk tour of this gorgeous 37 acre farm in Thermal. It’s a 5 minute drive to the Coachella Music Festival grounds, so a key location in our incredible Coachella Valley!
La Quinta Golf course communities include PGA West.
La Quinta Golf Course Communities: Here in the Coachella Valley, we are still considered a Vacation destination. True in that so many homeowners are seasonal, choosing to spend the typically cold months elsewhere here in the warm, gorgeous desert. Some seasonal owners prefer gated communities, while many year round owners prefer non-gated communities. There are pros and cons to both, and I am going to focus on gated, golf course communities in this blog. If you are thinking of buying or selling in any of the Desert cities, give Kim Kelly, local resident and realtor a call at 760-285-3578.
La Quinta Golf Course Communities:
Club Name Price Range Membership Deposit & Dues # of homes
The Citrus $600,000-$2,200,000 $30,000 & $1,353/mo. 537
The Hideaway $1,300,000 plus $60,000 & $2,600/mo. 248
PGA West $100,000-$3,000,000 $45,000 & $1,518/mo. 2941
Rancho La Quinta $450,000-$2,500,000 $39,500 & $1,465/mo. 979
Mountain View CC $350,000-$1,600,000 $31,000 & $1,215/mo. 427
The Tradition $1,500,000 plus $110,000 & $3,100/mo. 215
Andalusia $950,000 – $3,000,000 $39,500 & $1,392/mo. 160
The Palms $600,000 – $1,500,000 $20,000 & $820/mo. 92
The Quarry $950,000 – $5,000,000 $60,000 & $2,000/mo.
Take this short walking video tour of The Quarry in La Quinta. Mind blowingly beautiful..
Polo is cancelled amid this COVID19 scare.
Sensible COVID19 changes for Realtors: These are difficult times for all of us, and because I make my living in “the public”, I have had to make some changes to how I conduct business here in the Coachella Valley, starting with interacting with my clients. Here are 5 things that I’ve decided to change in my own life, brought on by the COVID19 virus situation.
5 Changes for Realtors during this COVID19 scare
- Don’t put people in your car to tour properties. This seems pretty obvious since we aren’t supposed to be within 6 feet, but it’s “what we do!” Not now, not with the COVID19 Virus. Just don’t do it.
- Do wear gloves if it makes you feel better. It does me, and I make a joke out of it when showing property. Maybe it doesn’t do any good, and my barn gloves are ugly, but I LIKE wearing them!
- No More hand shaking. I almost always greet new clients with a handshake and card exchange. Now I tell them why we don’t shake, and hand them a card.
- Skip the crowds! Office meetings, open houses, networking, forget about it. Good Grief..small sacrifices.
- Do More reaching out Online. I like seeing my clients/friends, but there just is not going to be as much human contact right now.
I’ve found all my clients/friends are RELIEVED that I’m making the calls..takes the pressure off of them. I suspect they feel the same way, but are glad I am the one setting the boundaries in these harrowing times. The property below has been reduced to 1.2 million.
TWO new Barns, 17 stalls, 4 tackrooms, Changing area with shower & laundry!
What are my Equestrian Choices? If you are an equestrian, or maybe you’re thinking about bringing your horses to the Coachella Valley from Montana, Seattle, LA area, Oregon, Washington??? If you are tossing around the idea of a horse property or land, the desert floor offers a multitude of options. For your free property consultation, give local Realtor, Kim Kelly, a call at 760-285-3578.
Nearly new park model on 5 acres in sky valley, $625,000
Prices for equestrian properties that have houses on them, range from $625,000 in Sky Valley, that’s for a home on 5 Acres with a small barn to 54 Acres with a huge custom house, guest quarters, barns, alfalfa fields for over 8 million.
Cahuilla Hills in Palm Desert offers 2 to 10 acre parcels, with and without homes, ranging from approx. $500,000 to over 3 million.
Clancy Ln. in Rancho Mirage, Mission Ranch, or Via Josephina and some of the 5 acre parcels in North RM, allow horses.
The East Valley, offers many horsey options in Coachella, Thermal, Indio and Vista Santa Rosa. The property below is available in Thermal…
Realtors can work from any place, any time..even on vacation!
Commission; what Clients think vs. Reality: “What do you do with all that money?” “Wow, Realtors have it so Easy!” “Why should you get a commission when that’s all you do??” It never stops, so I’m going to break down the Commission split and pay out to help buyers and sellers understand exactly where money goes when a Real Estate agent collects a commission check..
Los Lagos, Indian Wells, one of your housing options in Indian Wells.
2020 Season has BEGUN! The streets are humming here in the Coachella Valley. It feels like it’s early for the season, but then again, bring it on! I held open houses today and Saturday at Los Lagos in Indian Wells, and we had a steady stream of people.