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Friday, July 17, 2015


Valued Friends & Clients!

Summer in the desert! July & August are almost always the hottest months, and sometimes there is humidity added in! This year we did experience some very hot days in June and some very pleasant days in July. We expect to see the temperatures to be between 105-110 degrees for the most part. The good news is that July is half over!

The luxury real estate market has entered it's normal summer mode: Many listings have been taken off the market for the summer and many more have been taken out of the Multiple Listing Service (MLS) for the summer. So, inventory is on the low side, which goes in line with the low number of people looking for luxury homes during the summer. Many of the luxury homes still actively for sale can probably be bought right!

Most of the summer sales activity will be focused in the lower price ranges, and homes priced $700,000 and below will see the highest numbers of sales. And then, the lower the price, the more activity. As we move into November, listing inventory will increase and the higher priced homes will see more buyer activity.

The Fed continues to threaten to raise interest rates, but even if they do, I don't expect to see much of a jump. The stock market has made it through the Greece and China crises, so there may be more upside possible. Expect to see the high-end real estate market in the desert to remain very competitive next season.

This month I have included the following items you might find interesting:

Remembering Donald Wexler, the Inventor of Palm Springs Modern: One of the most recognized desert architects passed away last month. Here is a look at his impact on the Coachella Valley. Read more...
Seattle's Strong High-end Real Estate Market is looked at in this recent Wall Street Journal article. Fueled by the technology boom and more people moving from Silicon Valley, the Seattle market is hot! The desert draws many people from Seattle, so I found this interesting. Read the article...
The Largest Land Sale in the World: A property in Australia that is over 27 Million Acres is on the market. This is larger than Indiana! There are 30 potential bidders. Read the article...
Is your home properly insured? This Wall Street Journal article makes the point that high-end homes are more likely to have inadequate homeowners insurance. Take a look...
The 10 Most Expensive Desert Homes sold in the first half of 2015, as reported by the California Desert Area MLS: These sales range from $4,400,000 for a home at PGA West, to $7,950,000 for a home at Bighorn. This list also includes homes at The Hideaway, The Madison Club, The Vintage Club & a home in Thunderbird Cove in Rancho Mirage. Three of the Top four sales were at Bighorn Golf Club. The average price per square foot for these 10 homes was $778. See the complete list...

As you are probably aware, I have been one of the top Realtors in the Coachella Valley for over 30 years. And, my son Keith has been a part of my team for more than 15 years. A large part of our business comes from past clients and referrals, so if you know of anyone thinking of selling or buying a home in the desert, please send them our way.

Thanks. I hope you're having a great summer!

Sincerely,
Bruce

44828 Santa Rosa Court,
Desert Horizons CC - IW
Priced at: $985,000

Very nice, newer Hazeltine plan with a Contemporary interior sits on an elevated site overlooking the 1st Fairway at Desert Horizons Country Club! Features include Custom entry gate, entry courtyard with lush landscaping & fountain, etched glass entry doors, marble flooring, textured walls, updated kitchen, granite wetbar and lots of built-ins. This home offers 4 Bedrooms, 4.5 Baths plus a Family Room. One of the bedrooms is a Casita and one of the bedrooms has been built-in as an office. Very large master bedroom suite with his and hers bath areas and custom closet area. Professionally decorated, this home is move-in ready! The rear yard offers wonderful outdoor living with large, 40' pool & spa, cooking center (plus a pizza oven), covered overhang, mature desert landscaping, artificial turf, great views and lots of privacy. A southeastern exposure provides for beautiful Santa Rosa Mountain views!
Remembering Donald Wexler, the Inventor of Palm Springs Modernism
Katherine Wisniewski - curbed.com
Remembering Donald Wexler, the Inventor of Palm Springs Modern: One of the most recognized desert architects passed away last month. Here is a look at his impact on the Coachella Valley Read the full article...
Seattle's Luxury Homes Get a Tech Boom Boost
Alina Dizik - WSJ
Seattle's Strong High-end Real Estate Market is looked at in this recent Wall Street Journal article. Fueled by the technology boom and more people moving from Silicon Valley, the Seattle market is hot! The desert draws many people from Seattle, so I found this interesting. Read the article...

Largest Land Sale in the World to Take Place in Australia: Property the Size of Indiana Going for $325M
American Luxury

The Largest Land Sale in the World: A property in Australia that is over 27 Million Acres is on the market. This is larger than Indiana! There are 30 potential bidders. Read More...

Homeowners: Ensure You're Insured
Anya Martin - WSJ
Is your home properly insured? This Wall Street Journal article makes the point that high-end homes are more likely to have inadequate homeowners insurance. Read the article...

The 10 Most Expensive Desert Homes Sold in the first half 2015
Desert Area MLS

The 10 Most Expensive Desert Homes sold in the first half of 2015, as reported by the California Desert Area MLS: These sales range from $4,400,000 for a home at PGA West, to $7,950,000 for a home at Bighorn. This list also includes homes at The Hideaway, The Madison Club, The Vintage Club & a home in Thunderbird Cove in Rancho Mirage. Three of the Top four sales were at Bighorn Golf Club. The average price per square foot for these 10 homes was $778. See the complete list...

21 Santa Rosa Mountain Lane Mirada Villas, RM $1,895,000
44838 Santa Rosa Court Desert Horizons CC, W $729,000
28 Villaggio Place Villaggio on Sinatra, RM $1,225,000
45655 Verba Santa Drive South Palm Desert $549,000
75606 Valle Vista Desert Horizons CC, IW $449,000



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