Just released Sales figures for homes claims an increase of 3.4% for April over the previous month..great news! Remember that this is not for a local market..read about it here..
In our local market, Palm Springs Valley is on fire. La Quinta homes in all price points are moving again. The Luxury homes have not settled and the mid price point ($500-$800,000) is still a little murky. What I mean by this is..home with GREAT views, locations, floor plans, upgrades-these are selling for close to List Price set by the Sellers. These List Prices are often 30-45% what they would have been in 2005-2006.
Homes are sit or are bid DOWN are ones that may have a less desireable exposure, view, and floorplan or amenities.
The other interesting thing is that the numbers of Foreclosed properties has dropped..distressed propereties accounted for 28% of these sales figures. Here in La Quinta, Palm Desert, Rancho Mirage, Indian Wells and Indio, the numbers of distressed properties has dropped dramatically. Inventory is actually LOW.
If you are a distressed homeowner..meaning you owe more than your home’s value, give me a call. Being stressed about your monthly payment can be solved with a Short Sale!