Coachella Valley Real Estate By Kimberley, SFR, HAFA, GREEN
Residential, Equestrian, Land
I Do Real Estate The Same Way I Played Polo – To Win!
Coachella Valley Properties By Kimberley, SFR, HAFA, GREEN
Residential, Equestrian, Land
I Do Real Estate The Same Way I Played Polo – To Win!

All Posts tagged La Quinta

Happy Birthday La Quinta – You’re 30 Yrs. Old and Looking Good !!!

Happy 30th Birthday, La QuintaInteresting that La Quinta could actually have been 37 years old this year if it had been incorporated on the first try in 1975.  Voters overwhelmingly rejected incorporation that year by a 2 to 1 margin, fearing higher property taxes.

Six years later in 1982, a group of area residents led by Fred Wolff tried again for incorporation . . . and this time cityhood was voted in.  Fred Wolff would go on to become La Quinta’s first mayor.  The incorporation process wasn’t easy – it required that a petition be signed by 25% of registered voters and that a feasibility study by approved by Riverside County Local Agency Formation Commission before being place on the ballot.

On the day the board was to vote on the incorporation of La Quinta, they were also considering a petition by the city of Indian Wells to annex the commercial area alng Washington St. and Hwy. 111.  Indian Wells was attempting to secure the four corners at that intersection to try to keep commercialization out of their city.

The incorporation organizers took two busloads of people down to Riverside for a face-to-face meeting with Indian Wells’ attorneys and the people spoke out to support their stance.  The LAFCO board also heard testimony from the Indian Wells contingency and from the commercial businesses at the four corners who did not initially support La Quinta becoming its own city.

The LAFCO board then voted – unanimously in favor of placing the measure on the ballot.  Still, there were protestations from certain groups, but voters approved the measure to incorporate in a 3 to 1 vote.

Now the fastest growing city in the Coachella Valley, La Quinta is home to more than 37,000 residents and runs with a city budget of more than $40 million.  The La Quinta of today plays host to world class events such as the BNP Parabis Tennis Open and the Humana Challenge (once the Bob Hope Classic).  The La Quinta Arts Festival held every spring is considered one of the best of its kind in the country. Hollywood famous have made their homes here, such as Merv Griffin and Frank Capra.

La Quinta residents live here in the Gem of the Desert, as it’s known, for a reason . . . and they will tell you, they live here because it’s friendly, it’s about family and it’s beautiful and affordable.  Nuff said.

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Palm Springs Valley; an Equestrians’ Dream!

Palm Springs Valley; an Equestrians’ Dream!

La Quinta real estateWhen most people think of the Palm Springs Valley, they think of Sunshine and Golf.  People with horses know if for entirely different reasons, but equally important and impressive.  The Eastern end of the Palm Springs Valley encompasses the cities of La Quinta, Indio, Bermuda Dunes, Coachella, Thermal and Vista Santa Rosa.  Each is home to many horse ranchettes, small horse estates, actual working ranches and producing date and citrus farms.

Indio has become famous for it’s two International Polo Clubs, The Empire Polo Club and the Eldorado Polo Club.  Eldorado is celebrating it’s 55th year of life in 2012!  Eldorado moved to it’s current site in the 1980’s and is the largest Polo Club in the United States.  Florida with it’s many private clubs as well as the Palm Beach Polo Club is it’s only rival.  There are 13 polo fields, and each season welcomes approximately 1,000 horses and 150 players.  Sunday games are open to everyone, with tailgate parties, jumpy gym for the kids, hot dog stands and more formal dining at the Clubhouse if preferred.  Entry is $5/car..pretty reasonable for an afternoon of fun.  Sunday’s Finals are played at 12 pm and 2 pm from January through April.

The neighboring Empire Polo Club is on the map for different reasons entirely.  Polo is played throughout the season with 5 fields and games 5 days a week, as well as a summer polo pony training haven.  Empire Polo is geared more to Events, with it’s varied event sites including Medjhol Lake, the Famous Rose Gardens with it’s life size bronzes scattered throughout, a regulation size Indoor Polo Arena under lights for those night games, as well as wedding and celebration sites.  But the BIG EVENT at Empire is the Coachella Music and Arts Festival in April.  2012 will be 10 years here in the Valley and it has become an international success, bringing visitors from all over the world. 2012 will see 3 weekends of the Music Festival.

If you travel a little further East, you enter the town of Vista Santa Rosa.  An unincorported, gorgeous, rural area of date palms and ranches, it is home to Deer Creek Polo Farm and many other polo pony training facilities.  Adjacent to VSR is the very rural city of Thermal. Thermal was put on the map when The Jacqueline Cochran Airport opened, but it has become very famous amongst equestrians over the past years as home to the HITS (Horseshow in The Sun) competitions.  This internationally ranked “A” rated horseshow has riders from all over the US and Canada competing for BIG cash prizes.  Saturday and Sundays from January through April hosts day and night jumping events that will take your breath away.  A small fee at the gate and you can stay all day.  Equestrian shopping is unbeatable, the food is varied and the events go from children’s classes to Olympic level.

La Quinta also sports riding trails from it’s Eastern side to the more central areas.  It is planed that the trails (which are also great for walking!) will eventually go all the way to the La Quinta Cove foothills.  It is not unusual to see riders as you drive your car around La Quinta.

So..come on out for the sunshine and golf, but add a few Equestrian flavored events to your schedule.  You’ll be glad you did!

image: la-quinta.org

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Get Pre-Approved Before Buying A La Quinta Home

home warranty palm springs real estateDuring the real estate boom a couple years ago, getting a mortgage was ridiculously easy.  In hindsight, it was a chicken or egg thing.  Nevertheless, times have changed.  Buyers now are forced to jump through hoops and promise their first born prior to being approved.  Seriously though, starting the pre-approval process earlier rather than later is definitely the best route to pursue.

The first hoop in the process of obtaining a mortgage loan is getting pre-approved.  That means that the lender has verified that based on their initial assessment, they will loan you a certain amount of money for a certain length of time.  They will then issue a letter stating as much, which you will need to include when you submit an offer on a home.  In today’s market, sellers and agents are more likely to require a pre-approval letter.  When taking La Quinta homes for sale into consideration, qualified buyers will appear more serious when they have taken the correct steps to obtain financing.  The following are some ideas of how to go about today’s mortgage process.

Start early and shop around

Prior to looking at La Quinta Real Estate, it is generally good to talk to two or three different lenders.  They will likely be very comparable on price and terms, so talking to more than that is not necessary.  What you are looking for is a mortgage package that best fits your needs.  Another thing to consider is what it would be like to work collaboratively with each lender you talk to.  As the loan progress moves forward, you will be having near daily conversations with this person, so make sure that will work for you.

Do you homework

The lender is going to need extensive documentation of your income, assets, and commitments.  What they are evaluating is your ability to repay each month.  In the wake of the lending crisis, requirements have gotten much more strict.  Be prepared to give the lender copies of your W-2s, tax returns, investment income statements, child support and or alimony documentation, recent paystubs, and any other income documentation you may have.

Know that you are not locked into any one lender

Just because you are pre-approved with a lender does not mean you have to complete the loan process with them.  Rates change daily, so the rate the day you are approved will most likely not be the same when you find a property and lock in your loan.  If something changes that you are not comfortable with (loan type, rate, etc.), you are free to change lenders at anytime.  That being said, changing once you are close to closing will likely delay the transaction.

Watch your credit

Just like any other type of credit inquiry, shopping for a mortgage can ding your credit a little bit.  But, models typically ignore home and auto inquiries within 30 days of the score.  So, comparing lenders will not harm your score.  Remember that your lender will check your credit again right before closing.  So, even though it is exciting to think about buying all that furniture for a new house, it might be best to wait until everything is finalized before making any purchases that would affect your credit score.

Keep timing in mind

Once your rate is locked in, you usually have 30 or maybe 60 days to get the transaction closed.  Generally that is not a problem.  But, keep this in mind if you are going to be out of town during that time, or have something else that comes up.  When your lender requests documentation from you, try and accommodate the request as quickly as possible just to keep things moving.  If rates have gone up and your lock expires, there is really nothing that can be done.

In La Quinta, there is a wide variety of lending options, from major national banks to smaller local ones.  Make sure and deal with somebody that you trust.  In a lot of situations, having someone you can meet with face to face can be helpful, so be wary of the amazing low rates you may see offered by on-line lenders.  In summary, by doing a little bit of prep work upfront, you can save yourself time and money, and ensure a smooth transaction.

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How To Choose The Best La Quinta Real Estate Agent

If you’re like most people, your home is your single largest personal investment.  For that reason, finding the agent who will best market your property is imperative.  According to the National Association of REALTORS®, most people speak to only two agents prior to making their decision of whom to list their home with.

For an agent, that’s great news!  If they get the appointment, they have a 50% chance of getting the listing.  But as a homeowner, it is your job to ask the right questions and make sure you know what each agent brings to the table.  La Quinta real estate is extremely competitive.  Buyers are discerning and you need to put your best foot forward.

First, ask the agent what their typical marketing steps are.  How do they go about being your ‘megaphone to the marketplace’?  For example, which websites will they use to showcase your property?

Beyond their own personal website and their company’s website, they should also mention Zillow.com, Trulia.com, and REALTOR.com, just to name a few.  Over 80% of buyers begin their home search on the internet according to the National Association of REALTORS®, so just make sure they have this angle covered.

Second, find out what their plans are for staging your La Quinta home for sale.  Some agents invest in the cost of staging upfront, while others introduce you to a stager and ask you to make the investment if you so choose.

Whatever the case may be, this step is vital because no matter what the situation, it’s always a good idea to get an outsider’s perspective on what would make your home show best.  It doesn’t have to be expensive, most stagers charge less than $100/hour and simply re-arrange the things you already have rather than ask you to purchase anything new.

la quintaThird, but probably most important is photography.  It doesn’t necessarily have to be expensive professional photography, but it does need to be better than what the average person can do with a point and shoot camera.  Many agents, knowing how important this step is, have made the investment in quality equipment and lessons that enable them to take very nice photos.

Whether they hire it done or do it themselves, it has to be good.  Make sure you look on the internet at an agent’s current listings.  The photos will speak for themselves.  Are they dark or shadowy?  Have they gone the extra mile and done night/landscape photography?  For La Quinta real estate, the mountain and golf course views are big selling points.  Even though you’ve ‘done your homework’, ask about it during your interview just to make sure.   Keep in mind; good photography is key to internet marketing.

Fourth are open houses.  As recently as the 90s, the internet was not a viable a tool in marketing real estate, so there was really no way to see what the inside of a home looked like without going to an open house or making a showing appointment.  This has changed, so open houses aren’t as busy as they once were.  Nevertheless, open houses do sell homes.

So, ask your prospective agent for their thoughts on open houses.  Tell them you would like to try one or two.  Even if they don’t believe in them, they should be willing to hire a junior agent to hold your home open.  Bottom line, if they give you the answer that open houses don’t work so they’re not going to do them, move on to someone else.  All this said, don’t be crushed if after cleaning everything and vacating your home on the weekend, no one attends.

Finally, when selecting an agent to market your La Quinta property, another thing to consider is their connections within the community.  Do they have a network of people they’ll be marketing to?  What groups are they involved in?    You really don’t want a ‘part-timer’, i.e. someone who works 40 hours a week at another job and sells real estate on the side.  The more involved in the real estate community they are, the more connections they have, the more word of mouth advertising your property will get.

In conclusion, there are several things your agent needs to do to effectively market your property.  In your initial interview, make sure you cover all the areas above and get a really good idea of their standard protocols.  You want someone with a proven system of using all the technology and all angles possible to make your home stand above the rest.  After all, getting your home sold is what’s best for you and for them!

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La Quinta CA Real Estate – Now Is The Time To Buy And Here’s Why

La Quinta CA Real Estate – Now Is The Time To Buy And Here’s Why

real estate ca la quinta

If you have been to La Quinta, or have even just seen pictures, you know the obvious reasons this is an amazing place to call home.  The idyllic setting when viewed on a map seems almost too good to be true!  Whether you are a golf fanatic or someone who just loves a great desert sunset, La Quinta is also a prime location for a second home.  The golf, the mild climate, the golf, the mountainous landscape, the golf; need I say more?

But beyond all those somewhat superficial qualities, there are two very substantial reasons why now is a fantastic time to consider La Quinta real estate.  With mortgage rates falling below 4% on a 30-year note for the first time in decades and property values still well below bubble year prices, it just might be time for you to create your own version of that jaw-dropping cocktail party ‘I bought my home in La Quinta for (insert dirt cheap value here)’ lore.

For example, a 3 bedroom, 3 bathroom, Rancho La Quinta Country Club home that was listed in 2008 for $749,000 is now listed for $535,000.    That’s almost a 30% price break, folks!  Going a step further, let’s figure that with strong negotiation you are able to purchase the home for roughly 93% of list price, or $500,000.

Your monthly principal and interest works out to about $2,200 figuring 10% down and a 4% interest rate on a 30-year note.  Just a few short years ago, that same house would have cost you nearly double each month, figuring conservatively $700,000 at 5% for 30 years.

La Quinta CA Homes For SaleI know what you are thinking…even though La Quinta real estate is clearly a good investment right now, you have your current home to sell and face the same issues these sellers do with a lackluster market and soft prices.

What I would ask you to consider is that on a move-up purchase, the percentages work out so you are gaining more on the buy side than you are giving up on the sell side.  To illustrate this point, let’s say that what you have to sell is a bottle of water that’s missing 10% of its contents.

Most bottles of water contain 16 ounces, so your bottle of water now has slightly more than 14 ounces available.  Visually, it would not even look that different than a full bottle.  But let’s say somebody else has a gallon jug of water to sell that is also missing 10% of its contents.  Their jug is missing a whopping 13 ounces, almost the total amount of your bottle!  That jug looks a lot less full than your bottle, right?

La Quinta homes for sale number in the thousands, ranging from the low-$100s to  the several millions.  New construction continues to be built as well.  In addition to a huge variety of price ranges, there are also several different types of properties to consider, including; golf course or non-golf course, gated and non-gated communities, as well as equestrian properties.  There truly is something for everyone.

When you consider the topography; surrounded by mountains and a short drive to the coast, La Quinta is the place to be for outstanding views, a variety of hikes, and some of the best and most prestigious golf California has to offer.  Combine that with today’s mortgage rates and deflated prices, and there is really no reason to wait.  For all these reasons, La Quinta real estate is now and will always be an outstanding value.

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