click here to view this message in a web browser
Tuesday, May 24, 2016


Valued Friends & Clients,

As we hit the middle of May in the Coachella Valley, the seasonal real estate activity is starting to wind down. The car transporters have been loading up some of the luxury cars and heading out of town, the temperatures have just hit triple digits for the first time this year and many of the winter residents are heading to cooler climates for the summer.

For the next 30-60 days I expect to see sales activity even more focused on the very best deals than it has been during the season to this point. These Buyers will be looking for the 'end of the season' value, hoping to find those Sellers who really want to sell before summer. With our high-end housing market being mostly 2nd or 3rd homes, there is not the same need or urgency as there is in those areas that support more full time residents.

It appears that the market activity the Coachella Valley has experienced for the past several years will most likely be the new normal. While homes priced $400,000 and under continue to sell at a healthy pace, and the number of homes priced up to $800,000 are also selling well, the number of sales drop as the price increases. Not to say that there are not homes selling. There are just more homes for sale than there are buyers in the market. What I recently heard describes the luxury market pretty well "Price or Patience". Some of the sellers in the desert appear to have plenty of patience!

Here are several items you might find interesting:

Blomgren & Blomgren's Featured Home of the Month:
Take a look at this incredible home at Mirada Estates, above the Ritz Carlton Hotel...
High prices in many California housing markets are driving many homebuyers and existing homeowners to do extensive remodeling in order to get a newer feeling home, while retaining a lower property taxes based on the original purchase price. Read the article...
This Wall Street Journal article discusses those buyers who want to create their own luxury wilderness retreats. The desire to have a private setting surrounded by nature calls many. Read the article...
The 10 Most Expensive homes Sold in the Desert in April, 2016, according to the California Desert MLS: These 10 homes range from $2,100,000 for a home at The Vintage Country Club to $6,550,000 for a home at Bighorn Golf Club. Homes at The Reserve Club, The Quarry, and Mission Hills Country Club made this month's list, as well as a home on Clancy Lane in Rancho Mirage and a home in the Movie Colony in Palm Springs. See the complete list...

Thank You for the comments I get back from this newsletter. As usual, I hope you find it interesting.

Sincerely,
Bruce

Incredible Hilltop Estate At Mirada Estates - Rancho Mirage
Above the Ritz Carlton with Hotel Amenities!
Offered at: $4,975,000 Furnished

With 6,421 Square Feet on a .76-Acre lot, this beautifully furnished and decorated custom home, built in 2006 by Richard Pruter, PARR Development, offers not only luxury and convenience, but also provides a floor plan that allows for living and entertaining as formally or as casually as needed.

There are 4 Bedroom Suites, one of which is a Guest Casita, complete with its own Pullman kitchen. The main kitchen, enhanced by The Butler Pantry, is also convenient to the 2 Guest Suites. You'll enjoy the integrated electronic system, which is capable of remotely controlling the landscape lighting, security system, and even your coffee pot! Beautiful finishes contribute to the palpable luxury one feels, and they provide the background for an exquisite array of custom-designed furnishings, which are included with the home. South sun to be enjoyed in the Private Front Courtyard with Pool & Spa. Evening brings dramatic elevated Down Valley & Night Light Views.

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

California's Hot Housing Market Drives Pricey Home Facelifts
Katy Mclaughlin - WSJ
High prices in many California housing markets are driving many homebuyers and existing homeowners to do extensive remodeling in order to get a newer feeling home, while retaining a lower property taxes based on the original purchase price...
Buyers Build Upscale Homes in the Backwoods
Amy Gamerman - WSJ
This Wall Street Journal article discusses those buyers who want to create their own luxury wilderness retreats. The desire to have a private setting surrounded by nature calls many...

10 Most Expensive Homes Sold in the Desert in April, 2016
California Desert MLS

The 10 Most Expensive homes Sold in the Desert in April, 2016, according to the California Desert MLS: These 10 homes range from $2,100,000 for a home at The Vintage Country Club to $6,550,000 for a home at Bighorn Golf Club. Homes at The Reserve Club, The Quarry, and Mission Hills Country Club made this month's list, as well as a home on Clancy Lane in Rancho Mirage and a home in the Movie Colony in Palm Springs...

74182 Desert Tenaja The Reserve, IW $2,395,000 Furnished
68 Royal Saint Georges Mission Hills CC
Westgate - RM
$1,975,000
44834 Winged Foot Desert Horizons CC, IW $745,000 Furnished
75137 Spyglass Drive Desert Horizons CC, IW $695,000 Furnished
45655 Verba Santa South Palm Desert $569,000 Furnished



Bruce's Website
Active Listings
Search the MLS
Clubs & Communities
Meet Bruce
Meet Bruce's Team
For Buyers
For Sellers
Community Resources
Past Newsletters
Contact Bruce

"The purpose of a business is to create a customer."

- Peter Drucker


"The price of success is much lower than the price of failure."

- Zig Ziglar

 
Follow us:
Facebook Business Page
LinkedIn