If you’re in town to look at homes for sale in the Coachella Valley for your family to live in or for an international real estate investment, there are plenty of things to do that will give you an idea of how much fun it is to live in or vacation in the desert cities, no matter what time of year.
On Wednesday, July 16 from 6 to 9 pm, the Indian Wells Theater at CSUSB in Palm Desert will host a production of the classic from Broadway’s Golden Age of musicals, Fiddler on the Roof.
The performance, which features actors ranging in age from 13 to 24, will complete the Green Room Theatre Company’s fifth successful season. There will also be a short showcase of lighthearted scenes featuring the company’s youngest members, who range in age from 8 to 12. General admission is $18 and students and senior citizens can get tickets for $10. There will also be a showing on Thursday, July 17 from 1 to 4 pm and 6 pm to 9 pm. The Indian Wells Theater is located at 37500 Cook Street in Palm Desert. The event will be a great way for both visitors and those interested in international real estate in the area to witness the vibrant arts community of the desert cities.
On Friday, July 18 at 7 pm, Wet ‘n Wild Palm Springs will host another Dive-In Movie—this time it will be a showing of The Amazing Spiderman. The films start at dusk and are free with admission to the park. It’s an excellent way to cool down and enjoy time with the entire family.
On Friday from 7 to 9 pm, the Coachella Valley Repertory presents Bubblegum’s Anonymous: Chew on This, a unique cabaret-style performance featuring the bubblegum music from 50s, 60s and 70s. The performance also runs on Saturday, July 19 from 2 to 4 pm and 7 pm to 9 pm.
Image: americandocumentaryfilmfestival.com
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During 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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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.
I 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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If you’re in town to look at homes for sale in the Coachella Valley for your family to live in or for an international real estate investment, there are plenty of things to do that will give you an idea of how much fun it is to live in or vacation in the desert cities, no matter what time of year.
