click here to view this message in a web browser
Tuesday, October 20, 2015


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 lawns in the Coachella Valley. This process allows us to enjoy green grass all winter long. And, while everyone is trying to reduce the amount of water being used, we are expecting a wetter than normal winter this season.

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

The high-end real estate market has been steady over the summer, with July being the most active month for closings, and lower numbers in July & August. During the second quarter, there were 75 homes sold above $1 Million across the Coachella Valley, down from 86 for the same time last year. As is usually the case in the summer, only 12 of these 75 sales were above $2 Million. The average sales price for the high-end market during this period was $1,595,000.

During the first nine months of 2015, the number of sales across the Coachella Valley above $500,000, fell 10% from the same period in 2014. Sales were down in all cities except Palm Springs, where the number of sales increased by 11%. Indian Wells was down 21%, La Quinta was down 19% Rancho Mirage was down 13% and Palm Desert was down 6%.

Heading into November, we will soon start to get a better idea of how active the desert real estate market will be. More sellers are adjusting their expectations downward, which will bring more buyers into the market. There are currently 525 homes priced above $1 Million listed for sale, with 450 sold in the past 12 months.

This month I am including the following items you might find interesting:

Modernism Week is here. There are many modern and midcentury homes across the valley, with many of them being in Palm Springs. This article gives an advance look at the history of preserving desert modernism. Read the article...
What Every Seller Should Know About Comps. This article from ResMedia discusses the gap between what most sellers feel there homes are worth and appraisers' opinions. It is very often a challenge to get a seller to understand what fait market value is. Read the article...
Tips For Tax-Savvy Homeowners. This article from The Wall Street Journal discusses some of the more common tax tips for homeowners. Read the article...
Have you ever seen an oddly shaped vacant lot and wondered what could be built? This Wall Street Journal article looks at a number of homes built on some of these lots. Read the article...
The 10 Most Expensive Desert Homes sold in September 2015, according to the California Desert Area MLS. These sales range from $1,350,000 for a home at The Palms in La Quinta to $2,250,000 for a home at The Vintage in Indian Wells. This month's list includes 4 homes in Palm Springs, plus one each at The Quarry, AndalucĂ­a & Mission Hills CC.

Now that summer is over, we are ready for a very busy season. If you are thinking about selling your desert property or buying something larger or smaller, keep us in mind!

Sincerely,
Bruce

21 Santa Rosa Mountain Lane,
Mirada Villas, Rancho Mirage
Offered at: $1,895,000
Furnished
Dramatic Tuscan inspired Plan 2 at The Villas of Mirada! Offering exceptional design & high quality throughout with panoramic mountain and down valley views. Nestled high above the valley floor, this 3,590 sq ft home features a great room plan with 3 bedroom suites, powder room and stunning media room. As you approach the property, you'll notice the tumbled paver driveway and walkway, desert landscaping, and solid wood entry door. The inside has been remodeled and consists of natural stone surfaces, wood beamed ceilings, wood floors, motorized pocket sliding glass doors, and multiple built-ins. Amazing outdoor living starts with a covered outdoor room with fireplace, along with an incredible infinity edge pool & spa, and breathtaking panoramic mountain and down valley views. Offered designer furnished and ready to enjoy! The Villas of Mirada has its own Fitness Center & pool, plus Homeowners also enjoy privileges at the world class Ritz Carlton, which is just a short walk.

History: Palm Springs preserving desert modernism
Renee Brown Special - Desert Sun
Modernism Week is here. There are many modern and midcentury homes across the valley, with many of them being in Palm Springs. This article gives an advance look at the history of preserving desert modernism. Read the article...
What Every Seller Should Know about Comps
Suzanne De Vita - RISMedia
What Every Seller Should Know About Comps. This article from ResMedia discusses the gap between what most sellers feel there homes are worth and appraisers' opinions. It is very often a challenge to get a seller to understand what fait market value is. Read the article...

Tips for Tax-Savvy Homeowners
Anya Martin - The Wall Street Journal

Tips For Tax-Savvy Homeowners. This article from The Wall Street Journal discusses some of the more common tax tips for homeowners. Read the article...

Homes Built for Oddly Shaped Lots
Candace Jackson - The Wall Street Journal
Have you ever seen an oddly shaped vacant lot and wondered what could be built? This Wall Street Journal article looks at a number of homes built on some of these lots. Read the article...

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

The 10 Most Expensive Desert Homes sold in September 2015, according to the California Desert Area MLS. These sales range from $1,350,000 for a home at The Palms in La Quinta to $2,250,000 for a home at The Vintage in Indian Wells. This month's list includes 4 homes in Palm Springs, plus one each at The Quarry, AndalucĂ­a & Mission Hills CC. See the complete list...

46393 Blackhawk Indian Wells $1,359,000 Furnished
76220 Zuni Road Residential IW $639,500
77700 Cottonwood Cove Indian Wells CC $3,950,000
44816 Del Dios Circle DHCC $475,000 Furnished
75702 Valle Vista DHCC - IW $447,500 Furnished
68 Royal Saint Georges Mission Hills CC - RM $1,975,000



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

"Our Character is basically a composite of our habits. Because they are consistent, often unconscious patterns, they constantly, daily, express our character."

- Stephen Covey


"Your future depends on many things, but mostly on you."

- Frank Tyger

 
Follow us:
Facebook Business Page
LinkedIn