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Friday, March 17, 2017


Valued Friends and Clients!

The middle of March is here, and Spring is in the desert air! Although temperatures have been a bit above normal, the Coachella Valley is enjoying warm days and very comfortable evenings! The landscaping here is beautiful, and there is snow on the mountains. The Indian Wells BNP Paribas Open Tennis Tournament has had a great run this year, with many improvements made and drawing record crowds.

The great weather, world class golf and tennis, incredible hiking, a wide variety of events and a large number of great restaurants have created a lifestyle here that continues to be hard to beat! And, our desert area enjoys all of this while much of the rest of the country continues to experience extreme winter weather.

The high-end real estate market in the desert communities has enjoyed great improvement so far this year. While the showing activity does not feel at a level as high as we brokers feel it should, sales are up and listings are down. During January and February this year compared to last year:

2017 2016 Change
Number of home sold above $1 Million: 84 74 +13%
Number of homes sold above $2 Million: 20 13 +65%
$1 Million+ Homes 'In Escrow': 127 87 +68%
$1 Million+ Homes 'Listed For Sale': 799 898 -11%

The homes that we see being sold are new or newly remodeled, have great locations or are value priced. Or, a combination of all of these! We are seeing more sellers in the high-end market who are adjusting their asking prices downward in order to 'get in play'. We all know that every home will sell at some price. But, we are also seeing that the few new homes being built are very much in demand, and are bringing high prices.

And, even though the inventory of homes for sale has decreased 11% from last year at this time, there are still plenty of luxury homes for sale. Our market continues to have many sellers who are 'will sell sellers' - meaning they will sell if they get 'their' price, but don't 'need' to sell.

This month we are including the following items you might find interesting:

La Quinta has announced that a new luxury hotel, Montage, is now planned for Silverrock. If this does get built, it will be a great name for the valley. Read this article from The Desert Sun...
As we have discussed before, many private country clubs are facing a decline in golf members and are looking for ways to attract new members. This Wall Street Journal article takes another look at this issue. Read the article...
Light Bulbs? We have become big promoters of LED light bulbs in the homes we list for sale. Even though replacing all light bulbs in a home is time consuming and costly, we have had great success where the sellers are willing to do this. This article tries to clarify some of the confusion. Read the article...
The 10 Most Expensive Homes Sold in the Desert in February 2017, according to the California Desert Area MLS: These 10 homes range in price from $2,225,000 for a home at Bighorn to $5,762,500 for another home at Bighorn. This month's list has 3 homes at Bighorn, 2 homes at Mirada Estates, as well as homes at The Madison Club, The Vintage, The Hideaway, Toscana and Palm Springs. See the complete list...

Thank You for taking the time to read our newsletter and we sure hope you enjoy it. Our subscribers list continues to grow each month, so if you know of anyone who might like to get this, jus let us know.

Thanks,

Bruce (760) 779-1653
Keith (760) 333-3350

81266 Peary Place
The Madison Club, La Quinta
Offered at: $8,950,000 Furnished

Incredible desert contemporary estate home! Quality built and designed to offer the best in living at The Madison Club! Dramatic entry with dual water features & custom art pieces. Inside you find a great room with full sit down bar, a see through fireplace & automatic disappearing glass doors opening to the outdoors. Elegant formal dining room features a glass wine room. With 2 master bedrooms & a guest room in the main house, plus a 2-bedroom, 2 bath casita with living room. This 8890 square foot home includes a theater room, a large dual office and a gym! Gourmet kitchen with large island, breakfast nook and the best appliances, opens to the outdoors. There is also a full prep kitchen. This home features elevated mountain views across the green and down the fairway. Outdoor living at it's best with a large infinity edge pool with swim lane, spa, outdoor cooking & dining and fire pit in a recessed seating area. Fully furnished as per inventory. A 4-Car garage plus off street parking.

Please call Bruce for a Private Showing: (760) 779-1653


Montage ties its name to new luxury resort in La Quinta
The Desert Sun
La Quinta has announced that a new luxury hotel, Montage, is now planned for Silverrock. If this does get built, it will be a great name for the valley.
Can Yoga Save the Golf Club?
The Wall Street Journal

As we have discussed before, many private country clubs are facing a decline in golf members and are looking for ways to attract new members. This Wall Street Journal article takes another look at this issue.

For Illumination About New Light Bulbs, Think Lumens
The Wall Street Journal
Light Bulbs? We have become big promoters of LED light bulbs in the homes we list for sale. Even though replacing all light bulbs in a home is time consuming and costly, we have had great success where the sellers are willing to do this. This article tries to clarify some of the confusion.

The 10 Most Expensive Homes Sold in the Desert in February 2017
California Desert MLS

The 10 Most Expensive Homes Sold in the Desert in February 2017, according to the California Desert Area MLS: These 10 homes range in price from $2,225,000 for a home at Bighorn to $5,762,500 for another home at Bighorn. This month's list has 3 homes at Bighorn, 2 homes at Mirada Estates, as well as homes at The Madison Club, The Vintage, The Hideaway, Toscana and Palm Springs.

73143 Monterra Circle N Monterra, PD $895,000
38981 Wisteria Drive Palm Valley CC, PD $359,000F
81266 Peary Place Madison Club, LQ $8,950,000F
74360 Desert Tenaja The Reserve Club, PD $2,149,500
44840 Guadalupe Drive Desert Horizons CC, IW $495,000
44828 Santa Rosa Ct Desert Horizons CC, IW $925,000
78370 Coyote Canyon The Tradition, LQ $3,795,000F
75425 St. Andrews Ct Desert Horizons CC, IW $485,000



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"Laughter is the fireworks of the soul."

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