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Thursday, June 29, 2017


Valued Friends and Clients!

Moving towards the end of June, the seasonal real estate marketing period in the desert is winding down a bit for the summer months. With temperatures already hitting 123 degrees, this might be a very hot summer. So, there will not be as many people out looking for homes, but if they are in the heat, they tend to be a more serious buyer. Many of the summer lookers are coming from the Southern California drive-out market.

Many of the higher priced homes have been taken out of the Multiple Listing Service (MLS) for the summer, or will be soon. The homes that remain on the market usually have motivated sellers, and they are often homes that are not being used any longer.

2017 turned out to be a very strong season for luxury homes. There were 306 homes priced above $1 Million that sold during the first 5 months of 2017. This is up almost 20% from the 248 homes sold last year and the 239 homes sold in 2015. Of these 306 homes, 240 were priced between $1-2 Million. There were 36 that sold between $3-4 Million, and 11 homes that sold above $4 Million. There were 3 homes that sold above $8 Million!

We have also seen a renewed interest in private golf club memberships this season, with several clubs gaining strong numbers of new members. This does tie in with reductions in the cost of the memberships, as most clubs realize that the entry fee is not as important as the number of dues-paying members. Hopefully, this trend will continue.

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

Blomgren & Blomgren's Featured Home of the Month: 49090 Vista Estrella, Rancho La Quinta @ $1,095,000 Furnished View this home...
From the Wall Street Journal this article on 'Buying a Home Sight Unseen' is interesting. Even though we hear that this does happen fairly often in other markets, it doesn't seem to happen in the desert very often. Read the article...
The Desert Sun ran this article on the early development of some of the hilltops in Rancho Mirage. How this happened is pretty interesting! Read the article...
From LuxTrends, published by Luxury Portfolio... Read about some secluded getaways...
Do you like to fish? How would you like to have your own, private fishing spot on your property? Read about some people who do!
The 10 Most Expensive Desert Homes sold in May 2017, as reported by the California Desert Area MLS: These sales range from $2,234,000 for a home in Old Las Palmas, Palm Springs, to $8,115,000 for a home at Bighorn Golf Club. This list includes the highest sales year-to-date at Bighorn & The Reserve. See the complete list...

Thanks for taking the time to read some or all of our newsletter. Have a great summer!

Sincerely,

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

49090 Vista Estrella
Rancho La Quinta
Offered at: $1,095,000 Furnished

The most popular plan at Rancho la Quinta, this Montana 1 has an outstanding location on the Jerry Pate course. The southeast exposure gives you morning sun and afternoon shade, golf course, lake and mountain views. The Great Room plan offers 4 bedrooms, 4.5 baths. One of the bedrooms is a casita with bath. The gourmet kitchen includes granite countertops, SS appliances, wet bar, wine cooler & walk-in pantry. Upgrades include travertine fireplace in great room, electric shades, custom entry doors. Master suite with fireplace & spacious bath with dual sinks, marble tops, jetted tub, large shower and oversized walk-in closet. Outdoor living with a custom, salt-water pool, spa & waterfall plus built-in BBQ. This large rear yard area features great views and privacy.

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

Buying A Home Sight Unseen Is Easier Than Ever-and More Common
Wall Street Journal
From the Wall Street Journal this article on 'Buying a Home Sight Unseen' is interesting. Even though we hear that this does happen fairly often in other markets, it doesn't seem to happen in the desert very often.
Sky Mountain and the Secret of Rancho Mirage's Flat Top Hills
The Desert Sun

The Desert Sun ran this article on the early development of some of the hilltops in Rancho Mirage. How this happened is pretty interesting!.

Secluded Properties That Will Help You Unplug
Luxury Portfolio
Have you ever dreamed of living on a private island? Chance are good that's a yes. Take a trip with us to these properties.

How the Rich Fish
Wall Street Journal
Do you like to fish? How would you like to have your own, private fishing spot on your property? Read about some people who do!

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

The 10 Most Expensive Desert Homes sold in May 2017, as reported by the California Desert Area MLS: These sales range from $2,234,000 for a home in Old Las Palmas, Palm Springs, to $8,115,000 for a home at Bighorn Golf Club. This list includes the highest sales year-to-date at Bighorn & The Reserve.

75075 Inverness Desert Horizons CC, IW $1,195,000 F
46340 Desert Lily South Palm Desert $1,175,000
49090 Vista Estrella Rancho La Quinta $1,095,000 F
50674 Desert Arroyo (lot) The Reserve Club, IW $795,000
272 Eagle Dance Indian Ridge CC, PD $499,000
73833 Desert Garden The Reserve, PD $1,925,000F
75623 Camino de Paco Desert Horizons, IW $1,125,O00F
44828 Santa Rosa Ct Desert Horizons, IW $925,000
44831 Doral Drive Desert Horizons, IW $915,000
44330 Lakeside Desert Horizons, IW $729,000
75250 Inverness Desert Horizons, IW $529,000F
900 Island Drive Desert Island, RM $395,000



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"Confidence is contagious. So is lack of confidence."

- Vince Lombardi


"Ah, SUMMER, what power you have to make us suffer and like it!"

- Russell Baker


 
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