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Wednesday, February 18, 2015


Valued Friends & Clients!

So, what is it that makes the desert area so attractive? It comes down to the weather and the lifestyle! After another brutal winter in most of the country, more people will continue to seek out the warmer climates. The near perfect winter weather extends to about 9 months, making the Coachella Valley the perfect place to enjoy the winter months, excellent golf and a broad range of activities for almost everyone.

The middle weeks of February will be among the busiest of the year. Modernism Week showcases many of the architecturally significant homes in the valley. The National Date Festival is in swing. A balloon festival, a bicycle race and President Obama was in town over this past weekend for golf & relaxation, adding to the congestion. The BNP Paribas Open Tennis Tournament at the Indian Wells Tennis Gardens begins the first week of March and is growing in stature every year.

Desert real estate sales activity has been off a bit this year when compared to last year. There were 35 closed sales above $1 Million in January, down from 45 closings in 2014. While the number of sales are down, the average sales price of these closings is up nearly 8% from last year, due to an increase in sales above $2 Million. And, there are 80 homes in escrow priced above $1 Million, which will be closing over the next 60 days. Showings have been off the past 3-4 weeks, but we are usually busier from now until mid-May. The fall of the Canadian dollar against the US dollar has taken most Canadians out of the home market for now.

This month I am including the following items you might find interesting:

Consumer confidence is now at its highest level since 2007, according to this Wall Street Journal article. So, why are the consumers not spending more money? Read the article...
Realtor Magazine reports on 21 Hot Housing Trends for 2015: While not all of these trends seem to apply to the desert market, many of them do. Read more...
Palm Springs and Coachella Valley history lesson. This Wall Street Journal article looks at the different influences that turned the Palm Springs area into an architectural mecca. Read the article...
We have been hearing about the decrease in the popularity of golf for several years. The Desert Sun reports on why Santa Rosa Country Club is closing and selling its land for development. Due to the fact that there are no homes around this course, this will not become a common happening. An interesting read..
The 10 Most Expensive Homes Sold in the Desert in January 2015, according to the California Desert MLS: These 10 homes range in price from $1,875,000 for a home in Palm Springs to $4,200,000 for a home at The Vintage Club. The Hideaway leads the list with 4 closings, while homes at Bighorn, Tradition and The Quarry also made the list. See the complete list...

Best Regards,
Bruce

Consumers Singing a Happy Tune
Spencer Jakab - The Wall Street Journal
Consumer confidence is now at its highest level since 2007, according to this Wall Street Journal article. So, why are the consumers not spending more money? Read the full article...
21 Hot Housing Trends for 2015
Barbara Ballinger - Realtor Magazine
Everyone wants to be hip, and the latest trends in design can help distinguish one home from another. And it's not all flash; many new home fads are geared to pare maintenance and energy use and deliver information faster. Here's a look at what's coming. Read the article...

A Modern Oasis
Julie V. Iovine - The Wall Street Journal

Hollywood, casinos, hot springs and the military inadvertently helped turn Palm Springs into a midcentury design mecca. Read More...

At Santa Rosa, Sadness Over a Lost Country Club
Barbara Ballinger - Realtor Magazine
We have been hearing about the decrease in the popularity of golf for several years. The Desert Sun reports on why Santa Rosa Country Club is closing and selling its land for development. Read the article...

The 10 Most Expensive Desert Homes Sold in January 2015
Desert Area MLS

These 10 homes range in price from $1,875,000 for a home in Palm Springs to $4,200,000 for a home at The Vintage Club. The Hideaway leads the list with 4 closings, while homes at Bighorn, Tradition and The Quarry also made the list. See the complete list...

77700 Cottonwood Cove Indian Wells CC $4,750,000
45585 Alta Colina Residential Indian Wells $998,000
44818 Del Dios circle Desert Horizons CC, IW $425,000
Custom Home Rancho Mirage $3,195,000
45940 Paradise Valley Indian Wells, IW $1,785,000
75656 Via Cortona Toscana CC, IW $1,595,000
75323 14th Green Drive Desert Horizons CC, IW $949,000
1 Varsity Circle Ivy League Estates, RM $819,000
77700 Cottonwood Cove, Indian Wells Country Club Priced at: 4,750,000 Furnished
First time on the market for this magnificent home, arguably the Crown Jewel of Indian Wells Country Club! Situated on a premium 1.1-acre lot with commanding views of the 15th Fairway & Green, this residence is an architectural masterpiece! Contemporary design by Kevin Leonard & built with many high-quality details by George Martinovich. At 13,089 square feet, the home is perfect for entertaining a large group, but lives very comfortably as well. Resort-style outdoor living featuring a large pool with spa & waterfalls, outdoor cooking, expansive covered patio area with panoramic golf course & mountain views. Steel beam construction allows for soaring ceilings in the Grand Room, with disappearing doors, lots of glass & skylights. Impressive Master Bedroom Suite plus 2 spacious guest suites in the main house. There are 2 detached guest houses that open to the outdoor living area. A 4-Car garage with ample storage space plus covered parking for guests. A truly outstanding desert home!




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