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Tuesday, September 15, 2015


Valued Friends & Clients!

Greetings from the Coachella Valley desert area! With Labor Day behind us, summer will be coming to an end soon! It has been a hot summer, as usual, with some humidity thrown in, but we haven't experienced any extreme rain events like last year. I am looking forward to fall, with cooler evenings and mornings.

Hot Off the Press!

Though a formal announcement was set to be released at the end of the month, the word is out that the Windermere Real Estate Southern California franchise, the largest real estate brokerage in the desert, will be ending their affiliation with Windermere Real Estate as of September 30th. It is exciting news as this will allow our brokerage to be even more responsive to the changes in the local Coachella Valley market, and faster and more flexible in meeting the needs of a fast-paced, quickly changing industry. Plans have been in motion for some time as owners Bob Bennion and Bob Deville continue to position our company as a local leader in emerging technologies and national luxury network affiliations.

I have been associated with Bob Bennion and Bob Deville since 2008, and I am confident that this will be a positive change. The high level of support and technical assistance to my real estate business has come mainly from these local franchise owners and this independence will allow them to increase their support. They plan on maintaining their 29 Southern California offices, including the 17 offices in the Coachella Valley, which will be operating under their business name, which will be officially announced on October 1st.

Rest assured I will keep you posted as more good news rolls in! As Bob Deville indicated in the recent news story, "It's a breathe of fresh air! You can feel the energy around the office. We are pumped and ready to go!"

High-end home sales were steady through the summer. Not anywhere near seasonal activity, but steady. There were 23 homes in the desert that sold above $1 Million during August, with an average sales price of $1,667,000, and only 4 of these sales were above $2 Million. This compares to 28 homes sold above $1 Million in August last year with an average sales price of $1,691,000. So the number of sales was down almost 18% and the average sales price was barely off from last year.

There are 76 high-end homes currently 'In Escrow' and most of these will become closed sales over the next month or two. This appears to be a healthy number of sales as we head towards the start of the season in November. Over the next 60-90 days we will get a better feeling for how the seasonal sales activity will develop for the desert real estate market.

The 2nd Quarter Luxury Report from Windermere Real Estate says the luxury market has trended slightly towards being a Buyer's market! With many of our buyers coming from the coastal markets of LA, OC and San Diego, where the luxury market is much stronger, this is a great time buy a home in the desert!

This month I am including several items that are very timely considering that California is in its 4th year of drought and that golf plays a large part in the desert:

This Desert Sun article looks at the very large economic impact golf has in the Coachella Valley. It is interesting to understand how wide spread this impact is. Read the article...
From CBS News, this article looks at how the drought and water restrictions are affecting golf in the Coachella Valley. Read More...
The good news is that 'Golf's Appeal Appears to be on the Rise.' Larry Bohannan of The Desert Sun takes a look at some positive numbers in the game of golf. Read More...
On a different note, here is an article on a Chinese company that printed a 3D house and assembled it in 3 hours! Read More...
The 10 Most Expensive Desert Homes sold in August 2015, according to the California Desert Area MLS: These sales range from $1,450,000 for a home in Old Las Palmas in Palm Springs to $4,500,000 for a home at The Madison Club in La Quinta. This month's list also includes homes at Bighorn, Ironwood CC, Clancy Lane, Toscana & Mirada Estates and 4 of these homes are in Palm Springs! 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

74568 Desert Arroyo Trail,
The Reserve, Indian Wells
Priced at: $4,500,000

A Great Price for this Modern Contemporary Masterpiece designed by the Beverly Hills Architectural firm of Tichenor & Thorp! This 7422 square foot home is situated on a 1.42-acre lot offering beautiful views across the 15th Fairway to the mountains and across the valley. Peaceful zen entry courtyard with waterfalls & Koi pond. Inside you will find sloping wood ceilings & walls of glass and many unique design features. Extensive use of Zebra Wood in the kitchen accents top of the line appliances. Very spacious Master Suite includes His & Hers Baths, a Japanese soaking tub & a steam shower. Plus His & Hers Offices, an exercise room with equipment and a dedicated massage room. There is a 2 Bedroom, 2 Bath guest suite with outside entry. Plus a guest casita/help quarters with kitchen, living room & bedroom. And, a 6-Car Garage with AC!! Outside living includes a 50' lap pool, a therapeutic walking pool, spa, BBQ island and a pool house + pool bath in a private setting! Too much to list!
Report Breaks Down Golf's $1 Billion Desert Impact
Larry Bohannani - Desert Sun
This Desert Sun article looks at the very large economic impact golf has in the Coachella Valley. It is interesting to understand how wide spread this impact is. Read the article...
California's Golf Courses Doomed by Drought?
CBS News
From CBS News, this article looks at how the drought and water restrictions are affecting golf in the Coachella Valley. Read More...

Golf's Appeal Appears on Rise
Larry Bohannani - Desert Sun

The good news is that 'Golf's Appeal Appears to be on the Rise.' Larry Bohannan of The Desert Sun takes a look at some positive numbers in the game of golf. Read More...

A Chinese Company Assembled this 3D-Printed Home in Just Three Hours
Rick Stella
On a different note, here is an article on a Chinese company that printed a 3D house and assembled it in 3 hours! Read More...

The 10 Most Expensive Desert Homes Sold in August 2015
Desert Area MLS

The 10 Most Expensive Desert Homes sold in August 2015, according to the California Desert Area MLS: These sales range from $1,450,000 for a home in Old Las Palmas in Palm Springs to $4,500,000 for a home at The Madison Club in La Quinta. This month's list also includes homes at Bighorn, Ironwood CC, Clancy Lane, Toscana & Mirada Estates and 4 of these homes are in Palm Springs! See the complete list...

334 Crest Lake Drive Desert Falls Estates $1,425,000
4.23 Acres on Vista del Sol - Vacant Lot Vista Estates, RM $775,000



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"Thoughts Become Things... Choose The Good Ones!"

- Mike Dooley


"Success is getting what you want, happiness is wanting what you get"

- W.P. Kinsella

 
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