La Quinta Real Estate is moving..and fast. I’ve been listing, and closing Short Sales for almost 5 years now and the beautiful thing about the not so beautiful world of the Short Sale is that I keep my finger on the pulse of the market. Where’s the “bottom?” The bottom is where the Buyers set it..nothing mysterious about that. It’s still very much a Buyers’ market in La Quinta as it is in the majority of California. Palm Spring and Palm Desert are also seeing a tremendous amount of closed sales. What’s going on?
Smart money is being invested in La Quinta real estate again. Where else to put it if you want positive cash flow, want to have a tangible asset, or simply have the wherewithal to finally buy that resort home in a warm winter location for retirement or as a vacation home? Canadians are investing in our Valley heavily..even so much so as to put together investment groups to purchase golf course projects, commercial sites as well as residential short sales, foreclosures or equity homes that make sense in the price/sf comparison.
La Quinta entry level homes can be purchased for $100,000 – $150,000. Fixers are less and prime locations are more, BUT these homes are Killer! I’m watching one now in La Quinta that will come on as a Foreclosure within the next week or so for one of my European investors. It will be put into a Rental program for the next 3 years or so, then sold. These are lovely homes that cannot be replaced for what they are being sold for! Newer (2002-2007) built homes, or remodeled older homes with views, location, good school districts and you just can’t beat La Quinta for it’s beauty.
La Quinta real estate has always been attractive…now it’s even more so.