I am sticking to my belief and oft stated stance that 4th quarter 2011 was THE bottom for La Quinta and Palm Springs valley real estate. Why? The price per sq foot has gone up consistently since then for most developments. This article from today’s New York Times supports this idea. Each city and state is diferent but across the board in desireable areas, homes are selling!
Here in the Palm Springs Valley, it used to be just the entry level that received multiple offers, but it’s becoming more common now in the mid range..$600-$850,000 too. And inventory is down.
Don’t wait too long to step up and buy. Short Sales are still snapped up, but there are less of them to go around! Refis and loan mods are working to help keep people in their homes. Summer is a great time to look for property in our beautiful desert valley…come on out and see what all the hype’s about!