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Wednesday, October 19, 2016


Valued Friends & Clients,

Fall has finally arrived in the desert and, with it, the end of triple digit temperatures! At mid-October, we are experiencing the over-seeding process of all of the golf courses and most of the grass areas in the Coachella Valley. This process allows us to enjoy green grass all winter long. Our drought continues in the desert, and it sounds like it will continue through this winter.

Most golf clubs are scheduling their openings for the second or third weekend of November this year, which is when our real estate season starts to ramp up. This is also when winter residents start returning to their desert homes and a larger number of visitors start arriving. This is also when the colder weather arrives in the northern states and Canada, sending more people our way.

The high-end real estate market in the desert has been very active over the summer. During the 3rd Quarter, there were 96 homes sold above $1 Million across the Coachella Valley. This is more than a 20% increase from the same time last year! And, 24 of these were above $2 Million, which was double from last year. The average sales price for the homes sold in the 3rd Quarter above $1 Million was $1.86 Million, compared to $1.59 Million last year, another large increase.

Palm Springs has really enjoyed a surge in high-priced home sales, including Bob Hope's home, which is now in escrow. The Pond Estate sold, as did a home in Southridge, both just under $8 Million. In the 3rd Quarter, 4 of the 5 highest priced homes sold were in Palm Springs!

And, in the $500,000 to $1 Million-price range across the valley, sales were up almost 18% in the 3rd Quarter from last year, with 301 homes sold. These appear to be good indicators that, as the valley continues the slow transition away from golf, our real estate market is gaining a new momentum. And, as we head into November and get past the election, we will soon get a better idea of how active the desert real estate market will be this season.

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

Featured Homes of the Month:
74623 Desert Arroyo Drive, Indian Wells. This incredible 6,100 square foot home is on 2+ acres at The Reserve Club...
This article was taken from the Bennion Deville Blog, and speaks to the high-end sales activity over the summer in Palm Springs and Indian Wells. The lead house here is the Bob Hope house at the top of Southridge, which is in escrow. Read the article...
Well, Desert Trip has come & gone. And, what a great event this was! I attended Week 2 and, although I grew up with many of these artists and know many of the songs, I am not one to go to concerts. But, this was the opportunity of a lifetime to see these 6 super stars of rock music. Along with the other 75,000 people there, we had a great time! Read the article Read the article...
This Inman News article speaks to some new kitchen trends coming in 2017. While I agree that upgrading your kitchen & baths can add value to a home, and may help it sell quicker, I am not one to always follow the latest design trends. A home should maintain the overall design elements and not just follow the latest trends. Read the article...
The 10 Most Expensive Desert Homes Sold in September 2016, as reported by the California Desert Area MLS. This month Palms Springs has 5 homes on this list, more than ever before! The sales on the list range from $1,552,000 for a new home at Verlaine in Rancho Mirage to 2 homes in Palm Springs that sold for just under $8 Million! Homes at Tradition, The Hideaway & The Quarry are also included. See the complete list...

Thanks to your support, we have been a very active part of the desert real estate community for over 30 years. Our business is largely generated from past clients and referrals, which is the highest compliment we can get!

If you have any real estate needs, questions or referrals, just give us a call!

Thanks!

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

74623 Desert Arroyo Trail, Indian Wells - THE RESERVE CLUB Offered at: $4,350,000 FURNISHED

Incredible Tuscan inspired villa offering exceptional design & high quality construction in a private setting with east & south exposure and fabulous mountain views. Situated on just over 2-acres, this 6152 sq ft home features a Great Room plan with 5 bedroom suites (2 of which are in a guest casita with living room + a private patio with fireplace & spa). At the front entrance enjoy a stream-like water feature, as you pass a courtyard patio & fireplace, leading to a double door entry. Once inside you find an extensive use of natural stone surfaces & fireplaces, disappearing pocket doors and wood beamed ceilings. Amazing outdoor living starts with a covered entertainment area with fireplace, misters & cooking, then leads out to spacious patio areas and multi-level waterfalls that seem to come from the canyon, along with a large pool & spa. A lushly landscaped outdoor paradise! The Reserve is 780-acres of low density development, natural landscaping, world class golf & amenities.

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

The Summer of Hope Leads to Hot Real Estate Market

This article was taken from the Bennion Deville Blog, and speaks to the high-end sales activity over the summer in Palm Springs and Indian Wells. The lead house here is the Bob Hope house at the top of Southridge, which is in escrow.
How Desert Trip Made History
By Steve Baltin - Forbes Contributor
Well, Desert Trip has come & gone. And, what a great event this was! I attended Week 2 and, although I grew up with many of these artists and know many of the songs, I am not one to go to concerts. But, this was the opportunity of a lifetime to see these 6 super stars of rock music. Along with the other 75,000 people there, we had a great time!

What's hot and what's not in 2017 kitchen trends
Inman News

This Inman News article speaks to some new kitchen trends coming in 2017. While I agree that upgrading your kitchen & baths can add value to a home, and may help it sell quicker, I am not one to always follow the latest design trends. A home should maintain the overall design elements and not just follow the latest trends.

The 10 Most Expensive Desert Homes Sold in September 2016
California Desert MLS

The 10 Most Expensive Desert Homes Sold in September 2016, as reported by the California Desert Area MLS. This month Palms Springs has 5 homes on this list, more than ever before! The sales on the list range from $1,552,000 for a new home at Verlaine in Rancho Mirage to 2 homes in Palm Springs that sold for just under $8 Million! Homes at Tradition, The Hideaway & The Quarry are also included.

48644 Vista Palomino Rancho, LQ $1,395,000
78710 Vista Estrella Rancho, LQ $1,185,000F
75080 Muirfield Court Desert Horizons CC, IW $775,000
80579 Apricot Lane The Orchard - Indio $579,000
75425 St. Andrews Ct Desert Horizons CC, IW $485,000
78320 Via Pavion LQ Del Oro $479,950
75786 Camino Cielo Sundance, IW $520,000
49937 Desert Arroyo (Lot) The Reserve Club - IW $750,000
75060 Inverness Drive Desert Horizons CC, IW $849,000
74568 Desert Arroyo Trail The Reserve Club - IW $3,995,000



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- Voltaire (Philosopher, Essayist)


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