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Thursday, May 17, 2018


Valued Friends and Clients,

The seasonal real estate activity in the Coachella Valley is showing signs of slowing down as we move towards the end of May. While the car transporters have been seen loading up some of the luxury cars to head out of town, there are still a good number of Bentley's, BMZ's and exotic cars on the roads. Temperatures have already hit triple digits+, and we now will see more winter residents heading to cooler climates.

For the next 30-45 days we expect to see real estate sales activity to continue, but it will be even more focused on the very best priced homes than it has been during the season to this point. These late buyers will be looking for the 'end of the season' values, hoping to find Sellers who really want to sell before summer. With our higher-end market being mostly 2nd or 3rd homes, there is not the same sense of urgency as there is in those areas that support mainly full time residents.

As we get towards the end of this seasonal period, it seems that the high-end real estate market activity that the Coachella Valley has experienced over the past several years will remain somewhat constant in the near future. Homes priced under $400,000 continue to sell at a healthy pace, and homes priced to about $800,000 are selling well. As the price goes up, the sales activity drops off.

With a lower inventory of homes for sale across all price ranges than we have seen in the past couple of years, there are fewer homes for buyers to choose from. But, even with a lower inventory of homes for sale, the high-end market remains a Buyers Market in most of the desert area.

Here are a few items you might find interesting this month:

Blomgren & Blomgren's Featured Home of the Month: This 6600 square foot home in Thunderbird Heights, Rancho Mirage, has had a significant price adjustment. The seller has moved on and wants this home sold! It features beautiful down valley views. View this home...
How Much is a Home's View Worth? This Mansion Global article from NerdWallet discusses putting a price on the view from a home. Here in the Coachella Valley, whether the view is to the mountains, down valley, city lights or golf course, there can be big values in the view! Read the article...
This Realtor.com article looks at the lack of qualified tradesman in the building industry, which is slowing down new home construction. Read the article...
The Wall Street Journal takes a look at the exodus of people from California to other states. Rising home prices is a big factor. Read the article...
The 10 Most Expensive Homes Sold in the Desert in April 2018, according to the California Desert MLS. These 10 homes range from $2,900,000 for a home in Thunderbird Heights, Rancho Mirage, to $9,975,000 for a newly completed 8600 square foot home at Bighorn Golf Club. Homes at The Vintage, Tradition, and 3 in Palm Springs also made this month's list. 5 are inside of golf communities and 5 are in residential areas in Palm Springs and Rancho Mirage. See the complete list...

As we are heading into the summer months, Keith and I want to say Thank You for all of your confidence and support. We are very happy that this newsletter is so well received by so many.

Sincerely,

Bruce (760) 333-7653
Keith (760) 333-3350

Blomgren & Blomgren
Luxury Desert Real Estate

70375 Thunderbird Road
Thunderbird Heights, Rancho Mirage
Offered at: $2,750,000 Furnished

Just Reduced $450K! Incredible home on 3/4-acre view lot high in Thunderbird Heights! Brick paver drive leads to a large Porte Cochere & to the entry of this warm and inviting home. The entry courtyard with fireplace leads to the double door entry. Once inside, you immediately enjoy the views across the valley! Travertine and wood flooring, crown molding, baseboards and 4 massive stone fireplaces. Gourmet kitchen with high quality appliances, a large center island w/sink, granite countertops and a large walk-in pantry with 2nd frig. One bedroom is used as great office with custom built-ins & wood paneling. The master suite offers his & hers baths, very large closets with built-ins and sitting areas, etc. Outdoor living at it's finest, with travertine decking, built-in BBQ w/sit down eating, mister system, pool & spa and great down valley views! The casita has a BR, LR & kitchenette. A very secure property with 2 gated entrances & landscaped to insure privacy. Don't miss this one!

Please call for a private showing: (760) 779-1653

This is how much a home's view is worth
Marilyn Lewis - MarketWatch
How Much is a Home's View Worth? This Mansion Global article from NerdWallet discusses putting a price on the view from a home. Here in the Coachella Valley, whether the view is to the mountains, down valley, city lights or golf course, there can be big values in the view!
What's Holding Back New Home Construction? There's No One to Build 'em!
Chris Parker - Realtor.com
This Realtor.com article looks at the lack of qualified tradesman in the building industry, which is slowing down new home construction.

With no letup in home prices, the California exodus surges
Andrea Riquier - WSJ

The Wall Street Journal takes a look at the exodus of people from California to other states. Rising home prices is a big factor

The 10 Most Expensive Homes Sold in April 2018 as reported by the California Desert Area MLS:
California Desert MLS
The 10 Most Expensive Homes Sold in the Desert in April 2018, according to the California Desert MLS. These 10 homes range from $2,900,000 for a home in Thunderbird Heights, Rancho Mirage, to $9,975,000 for a newly completed 8600 square foot home at Bighorn Golf Club. Homes at The Vintage, Tradition, and 3 in Palm Springs also made this month's list. 5 are inside of golf communities and 5 are in residential areas in Palm Springs and Rancho Mirage.

40585 Diamondback Hovley Estates, PD $645,000
75623 Camino de Paco Desert Horizons CC, IW $1,695,000F
75394 Riviera Drive Desert Horizons CC, IW $625,000
72570 Theodora The Summit, PD $875,000
75385 Spyglass Desert Horizons CC, IW $517,000
46393 BlackHawk Indian Wells CC $1,245,000F



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"If you don't know where you are going, you will probably wind up somewhere else."

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