click here to view this message in a web browser
Friday, December 16, 2016


Valued Friends & Clients,

I want to start this month by wishing everyone a Very Happy Holiday Season and a Healthy & Prosperous Year in 2017! I sometimes find myself too focused on business, and not enough on the other positive things in my life. This is a perfect time to reflect on all of the most important things in our lives.

As 2016 draws to a close, I am looking back with these thoughts: The high-end real estate market remained very challenging this past year. And, this may very well be the 'new normal' for the near future. The inventory of luxury homes for sale remains high and the buyers continue to seek out the best homes at the best prices. And, there has not been much improvement in the high-end 'move-up' market.

So, what about the desert real estate market for 2017? The biggest influencer this year has to be how effective President-elect Trump will be at driving the economy, as well as every other aspect of being President. I am sure there will be much discussion leading up to and after the Inauguration. As we have seen since the election, the stock market has been on a tear, interest rates have increased and there seems to be more consumer confidence in the future economy. Personally, I believe the desert market will benefit this season.

While the market remains strong under $500,000, and good up to $1M, sales of homes priced above $1M remains steady from a year ago. The exceptions are sales of homes across the valley priced above $5M this year have more than doubled from last year, with 11 closings so far in 2016. And, Palm Springs remains a very strong market and has shown a large increase in ultra high-end home sales.

This month I have included some items you might find interesting:

Featured Homes of the Month:
75623 Camino de Paco, Indian Wells: This custom home at Desert Horizons Country Club has a great location at the 2nd Green and dramatic south mountain views...
Mansion Global takes a look at how Trump's Presidency will impact Luxury Real Estate Markets Globally. The primary markets could take a hit, while secondary markets could benefit. Read the article...
The Bob Hope House in Southridge Palm Springs closed escrow in November at $13M, the highest sales price for a home in the Coachella Valley that I can find. This LA Times article talks about the buyer of this prominent property. Read the article...
Here we go again! More rumors that the Obamas are buying a home in Rancho Mirage. This article from The Post seems to point to Thunderbird Heights as a possible spot. Read the article...
A very successful local businessman, Nachhattar Chandi, plans to build a $30M family compound in Rancho Miarge. Mr. Chandi's story is very interesting, starting with one gas station and building a local empire. Read the article...
The 10 Most Expensive Desert Homes Sold in November 2016, according to the Californis Desert MLS: As we have discussed, the Bob Hope House tops this list at $13M! The other homes on this list range from $1,750,000 for a home at PGA West to $5,850,000 for a home at The Madison Club. This month's list is composed of 6 homes in La Quinta, 3 in Palm Springs and 1 in Indian Wells. See the complete list...

Again, we are wishing you a very Happy Holiday Season!

Thanks!
Bruce & Keith

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

75635 Camino de Paco
Desert Horizons Country Club, Indian Wells
Offered at: $1,150,000 Furnished

One of only 22 Custom Homes built at Desert Horizons CC! This Contemporary Home sits on the 2nd Fairway with straight south exposure and dramatic mountain & golf course views. Designed to maximize the views from most of the rooms. The kitchen & breakfast nook enjoy the beautiful views, as do the living room and master bedroom. There are 3 Bedroom Suites, Den/Office and 2 Powder Rooms, with one of the bedrooms being a very spacious detached Casita. The master bedroom suite includes a fireplace, morning bar, luxurious bath and an exercise room. 3-Car garage. The outdoor living offers an elevated patio area with a large pool & spa, offering a private setting. This home has been well maintained and is in wonderful condition. Offered very nicely furnished.

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

Trump's Presidency Will Impact Luxury Real Estate Markets Globally
Beckie Strum - Mansion Global
Mansion Global takes a look at how Trump's Presidency will impact Luxury Real Estate Markets Globally. The primary markets could take a hit, while secondary markets could benefit.
L.A. billionaire Ron Burkle is the buyer of Bob Hope's Palm Springs retreat, sources say
Neal J. Leitereg - LA Times
The Bob Hope House in Southridge Palm Springs closed escrow in November at $13M, the highest sales price for a home in the Coachella Valley that I can find. This LA Times article talks about the buyer of this prominent property

Obamas rumored to be buying home in Rancho Mirage
Elijah Chiland - Page Six

Here we go again! More rumors that the Obamas are buying a home in Rancho Mirage. This article from The Post seems to point to Thunderbird Heights as a possible spot.

Chandi building $30M compound for family in Rancho Mirage
Sherry Barkas - The Desert Sun
A very successful local businessman, Nachhattar Chandi, plans to build a $30M family compound in Rancho Miarge. Mr. Chandi's story is very interesting, starting with one gas station and building a local empire.

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

The 10 Most Expensive Desert Homes Sold in November 2016, according to the Californis Desert MLS: As we have discussed, the Bob Hope House tops this list at $13M! The other homes on this list range from $1,750,000 for a home at PGA West to $5,850,000 for a home at The Madison Club. This month's list is composed of 6 homes in La Quinta, 3 in Palm Springs and 1 in Indian Wells.

73833 Desert Garden Trail The Reserve Club, PD $2,150,000F
75394 Riviera Drive Desert Horizons CC, IW $649,000
75830 Osage Trail Residential, IW $1,395,000
75325 St. Andrews Court Desert Horizons CC, IW $799,000F
75437 Riviera Drive Desert Horizons CC, IW $629,000F



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

"I'm beginning to recognize that real happiness isn't something large and looming on the horizon ahead, but something small, numerous and already here. The smile of someone you love. A decent breakfast. The warm sunset. Your little everyday joys all lined up in a row."

- Beau Christopher Taplin, Author


"People will forget what you said, people will forget what you did, but people will never forget how you made them feel."

- Maya Angelou


 
Follow us:
Facebook Business Page
LinkedIn