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Why You Can't Wait To Buy Palm Springs Area Real Estate

 Why You Cant Wait To Buy Palm Springs Area Real Estate

Why You Can’t Wait To Buy Palm Springs Area Real Estate

Here’s the data you’ve been waiting for to analyze this local real estate market!

  1. It definitely is frustrating to hear some people still spouting off that values of Palm Springs area homes are still falling. These people couldn’t be more wrong!  National real estate reports and predictions are overviews that do not necessarily reflect the reality of individual regions. The Coachella Valley is a remarkable value and home prices are rebounding!

    Do yourself a favor and read through the two articles appearing in The Desert Sun newspaper in late January 2012. To support these findings, we’ve included two slide shows from an annual presentation on January 26, 2012 to the California Desert Association of Realtors by the CEO of Real Data Strategies and Chief Economist of California Association of Realtors. 
    The conclusion is that prices are on the rise and homes in the Coachella Valley (Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Bermuda Dunes, Indian Wells, La Quinta, Indio) are selling robustly. Some areas are more active than others and certainly we are seeing a difference in volume at certain price points, but it is clear that waiting is not a smart strategy. With interest rates at historic lows, it’s hard to imagine having more incentive!
    One of the best ways to search is to use the free search tool Listing Book. Use it as long as it’s useful to you and opt-out anytime. Plug in your criteria and receive a report each day of homes you’ll want to consider.  
  2. While you’re reassuring yourself that this is the time to pull the trigger on Palm Springs area real estate, have a look at our curated Twitter List, below. You’ll find a growing list of locals tweeting about how and why they love this great lifestyle.
    Please Re-Tweet, Google Plus +1, Facebook Like, and otherwise share on your various social media. Your friends will thank you and we appreciate it!

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 Why You Cant Wait To Buy Palm Springs Area Real Estate

Palm Springs Area Interactive Digest: Vol. #2

 Palm Springs Area Interactive Digest: Vol. #2
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Palm Springs Desert Area Interactive Digest

The Palm Springs area may be somewhat affected by the economy like elsewhere, but it is bustling with diverse special events as well as regular local activities and entertainment.

We hope you enjoy our curated articles and commentary. Don’t forget to also check our Pinboard on (Pinterest below).

  1. The good news is that Palm Springs area real estate is very affordable. Pricesand interest rates are extraordinary. Create Your Personalized Real Estate Search Here!
  2. Share
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  3. Please Share and Comment. We want to hear what topics you’d like us to include in our next Palm Springs area story curation.

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 Palm Springs Area Interactive Digest: Vol. #2

A Secret Tip For Selling Your Home

Continue reading A Secret Tip For Selling Your Home

New Non-Stop Flights to Palm Springs

media httpwwwvisitpal wnnlC.jpg.scaled500 New Non Stop Flights to Palm Springs
Great news for the Palm Springs desert area! Several airlines have added new non-stop flights from major cities, making travel to this desert resort area even easier.

This local real estate market continues to offer extraordinary value, made even more attractive by historically low interest rates.

Please contact us @:

love@palmspringsgreathomes.com
www.facebook.com/loveofthedesert
www.palmspringsgreathomes.com

Click the following link to see Flight List:

Love of the Desert’s Posterous

Canadians Lured To Palm Springs Area (But Best To Know The Tax Implications)!

There’s been a lot said about the value of Palm Springs desert area real estate…and the droves of Canadian buyers who are currenly taking advantage of prices and the strength of their Loonie (Canadian dollar) vs. the US dollar. Other reasons Canadian Snowbirds are buying real estate in the desert area include:

Harsh winter has snowbirds seeking warmth 

More direct flights from WestJet 

Strong Canadian housing market 

Valley home prices often offer extraordinary value 

Insurance fees, other costs lower than East Coast 

First-time buyers purchasing before Bank of Canada raises interest rates 

Investment properties provide rental income 

Potential increase in local vacation rental rates

A search by the Palm Springs Regional Association of Realtors staff showed 1,329 Canadian buyers and another 98 purchasers from other countries acquired homes or condos over the past year, based on a tally of those who registered international addresses. 

San Diego-based DataQuick Information Systems noted cash purchases accounted for 30.5 percent of home sales in Southern California last month, up from a 10-month average of 13.3 percent. Absentee buyers — mostly of second-home purchasers and investors — bought 26percent of homes, DataQuick reported.

media httpcmsimggdnmy cEyod.jpg.scaled500 Canadians Lured To Palm Springs Area (But Best To Know The Tax Implications)!
Please click on this link for the full Desert Sun story: mydesert.com

But Canadians would be wise to fully understand the many concerns they face when buying real estate in the US relative to the tax consequences and proper structuring of the purchase to maximize tax benefits. 

Buying Real Estate in the US is an essential guide for any Canadian considering buying real estate in the US. The author, Dale Walters, is President and CEO of Cross Border Tax & Accounting, a wholly owned subsidiary of Keats, Connelly and Associates. Mr. Walters is a CPA and has earned the Certified Financial Planner™ designation in both the US and Canada. Keats, Connelly and Associates is the largest cross-border wealth management firm in North America that specializes in assisting Canadians and Americans to fully realize and enjoy their vision of an outstanding cross-border lifestyle. The firm works with clients to convert challenging obstacles of moving across the border into excellent opportunities. Cross Border Tax & Accounting is a full service cross-border tax, financial planning and investment management firm.  

Dale Walters recently sat down for an interview with The Globe and Mail, one of Canada’s top national newspapers where he answered questions from readers. Here is the link to my “Calgary-Palm Springs Area Real Estate Connection” Group on Linkedin.com in which the interview was also posted:
http://linkd.in/jY5D86

media httpwwwbuyingre sHxEG.jpg.scaled500 Canadians Lured To Palm Springs Area (But Best To Know The Tax Implications)!

 Please click on this link for more information about the book: buyingrealestateintheus.com

Buying Real Estate in the US covers the following:

  • Challenges and opportunities
  • Various ways to own real estate in the US
  • Pros and cons of the various ownership methods
  • Income tax implications and savings
  • Income tax and other filing requirements
  • Nonresident US estate tax and why it is usually not a problem
  • US probate and ways to avoid it
  • Financing options
  • Resources for buying real estate

LISTINGBOOK IS THE ANSWER FOR KEEPING APPRISED OF PALM SPRINGS AREA REAL ESTATE!

One of the best ways to track Palm Springs desert cities real estate is to sign on for a free Listingbook account: www.palmspringsgreathomes.info. You can learn all about the benefits of this great resource by clicking this link to our recent blogpost about it!

Posted via email from Love of the Desert’s Posterous

Do You Like Our New Logo (Poll)?

Branding Final Love 300x200 Do You Like Our New Logo (Poll)?

Hello Everyone. We are trying to determine whether our new logo successfully depicts our Palm Springs area real estate business and our “Love of the Desert” Brand. Please take a moment to complete this short POLL. We are looking for feedback from as wide a demographic sample as possible and would very much appreciate your Sharing, Liking, Re-Tweeting and otherwise relaying to your contacts who may be interested in participating.

Our objective is to confirm that the logo not only conveys that we are Palm Springs area Realtors. We also want to ensure that it illustrates our “Love of the Desert” brand, compelling you to want to learn more about why our clients find us knowledgeable, experienced and caring. 

Please also feel free to offer additional constructive comments and suggestions regarding any revisions on any of our other sites on which you will see the Poll. Thank you!

Posted via email from Love of the Desert’s Posterous

Palm Springs-Desert Cities Area Prices Rise!

We often hear clients and just about everyone else expressing views they’ve heard from random sources about the state of the real estate market in the Palm Springs area. They sometimes repeat things that simply are not accurate and bear no relation to reality. We are not about hyperbole and anectdotal “evidence” that purports to support the unsupportable.  Objective statistics are difficult to refute.  The truth is that the Coachella Valley really is an anomaly and that the real estate market here is verifiably “hot”, despite the opposite experience of continued slow real estate sales at depressed prices in many other regions. What follows may surprise you, but it is definitely reason to stop procrastinating if you are a serious buyer or seller of Palm Springs area real estate

Let’s begin with a Desert Sun article that appeared in late March:

AREA HOME SALES BUCK TREND, UP, 7.3 PERCENT
Other regions saw drops in February; ‘People want to live here,’ broker explains
12:42 PM, Mar. 25, 2011 |

Written by
MIKE PERRAULT
The Desert Sun

Home sales rose 7.3 percent in February across the Coachella Valley compared to the same month a year ago, bucking a downward trend in Southern California and the nation.

The latest monthly home-sales tally also rose considerably from January, La Jolla-based DataQuick Information Systems reported.

The 848 existing homes, condos and newly built homes that sold last month in the valley was up from 727 in January, DataQuick reported.

Brisk sales of previously occupied condos — a nearly 31 percent hike in year-over-year sales — helped boost the valley’s real estate market, analysts and real estate professionals said.

The Coachella Valley’s home sales increase last month compared to an 11.2 percent drop for all of Riverside County and a 6.4 percent drop across Southern California.
Nationwide, sales of existing homes fell 9.6 percent in February compared to the same month a year ago, the lowest level since November, the National Association of Realtors reported.

The latest monthly home-sales figures illustrate how tough it is to compare the valley’s real estate market with the rest of Southern California or even other parts of Riverside County, said Jim Franklin, president of the Palm Springs Regional Association of Realtors.

“We’re unique here in the Palm Springs-Coachella Valley,” said Franklin, a broker associate with Prudential California Realty. “People want to live here; it’s not like they have to live here. So our market holds up pretty steady.”

The valley’s median price — half sold for more, half for less — was $200,000 in February, the same as February 2010, DataQuick reported. That was up from $181,250 in January.

Southern California’s median price was $275,000 in February, DataQuick reported.
Positive factors
Analysts with DataQuick and the California Association of Realtors said there appears to be enough potential demand that the pace of home sales is expected to increase over the next several months.

Low prices, low mortgage rates, available credit, signs of job growth and improving consumer confidence are among factors that could help boost home sales this spring, said John Walsh, DataQuick president.

“There’s pent-up demand out there,” Walsh said. “Lots of people have been waiting for the right time to buy.”

The Coachella Valley is getting into its prime season, with May typically one of the busiest months, Franklin said.

“At the end of the season, people start buying,” he said. “I think if people don’t buy this year, they’re going to come back and say, ‘Boy, I should have bought this.’”

Franklin said condos are selling well because many out-of- town owners perceive them as easy to care for and they’re priced well at a time when the inventory of lower priced single-family homes is waning in some valley cities.

Sales of newly built homes continued to struggle in the valley, in part because builders are faced with steep competition from foreclosed and other distressed properties.

The figure of 30 newly built homes that sold in the valley during February was down 48 percent drop from February 2010, DataQuick reported. In January, 23 new homes sold, a 39 percent drop from a year ago.

Foreclosure factor
Leslie Appleton-Young, chief economist for the California Association of Realtors, said a big decline in the median price statewide in January could primarily be attributed to the brief moratorium that some banks placed on foreclosures last fall.

As the foreclosures resumed, Appleton-Young said more distressed properties came onto the market, which led to an uptick in sales of lower-priced homes in January. It’s a trend likely to continue as lenders expedite the disposition of those properties, Appleton- Young said.

DataQuick analysts observed that foreclosure resales made up 37.1 percent of all existing home sales in February across Southern California, which was up from 36.8 percent in January but down from 42.4 percent a year ago.

Short sales — transactions in which properties are sold for less that what is owed — made up about 19.8 percent of all home resales in Southern California in February, DataQuick reported.
CDAR officials have joined the California Association of Realtors to urge banks, government officials and others with a stake in the housing market to make short sales easier, faster and more efficient.

Some homebuyers have been frustrated having to wait as many as three months for banks to respond do short sale offers.

Greg Berkemer, CDAR executive director, said “we know our market is recovering,” even if fluctuations in sales and prices is uneven or choppy from month to month.

 Palm Springs Desert Cities Area Prices Rise!

Want  some more data? Here is documentation presented by the California Desert Association of Realtors that corroborates  the Desert Sun article above. 

Have a look at this graph below for an illustration of the implications of waiting to buy.  Not only are prices rising, but an increase in interest rates will profoundly impact the “deal” you want - and not in a way that will make you happy.

Windermere Real Estate has assembled some very telling stats. You will see how dominant the brokerage is over its competition, but – perhaps more importantly - the large volume of real estate transactions taking place in the Palm Springs area . While the doomsayers would have the uneducated believe that the market is flat, now we all can prove that this is hardly the reality! 

Join in this discussion. What’s your thinking? Please comment through Disqus (below), our Facebook Page (www.Facebook.com/loveofthedesert) and Twitter (@loveofthedesert)!

Palm Springs Foursquare 'check-in' launched | The Desert Sun

media httpcmsimggdnmy xvjoE.jpg.scaled500 Palm Springs Foursquare check in launched | The Desert Sun

Check out the Desert Sun story this morning about The Palm Springs Bureau of Tourism now participating on Foursquare.com – http://bit.ly/hp8CBD.

To clarify, the Bureau apparently has a list of 600 local vendors using Foursquare at its office rather than on its Foursquare page, and its page is actually Palm Springs Tourism Center rather than PalmSpringsCA.

It is great to see local businesses making use of social media and the creation of a Palm Springs group of vendors benefits everybody. Follow us on this blog and our primary blog (www.lovepalmspringshomes.com) to see how we creatively bring this marketing potential to reality through extensive use and expert understanding of the full possibilities of social media.

Hey, while you’re on Foursquare, please “Friend” me (Stephen Love, Rancho Mirage) and also don’t forget to Check in at Love of the Desert c/o Windermere Real Estate, Rancho Mirage!

Posted via email from Love of the Desert’s Posterous

Are You Prepared For A California Earthquake?

With the 8.9 magnitude earthquake in Japan in the headlines, we extend our heartfelt empathy and condolences to the people of Japan. We are also reminded of our own vulnerability in California. As much as we’ve talked about the beautiful resort area of Palm Springs, we must also be mindful of the potential of an earthquake throughout California. Small tremblors tend to go relatively unnoticed and we tend to grow complacent. But what about a significant quake? It’s a good time for some reminders.

We all know that we must assemble an “Earthquake Preparedness Kit”, but most people aren’t sure what to include.  The list below provides the essentials.   

Perhaps most important is a plan:

1.  Where will you meet if your family is not together when an earthquake strikes?

2.  Have you arranged to have a list of all your prescription medicines, dosages and instructions online on a service such as GoogleDocs where you or someone out-of-area can access it for you or your doctors?

3.  Do you have an evacuation plan if you are in a building or a gated community? 

4.  Does your Homeowners Association have a plan for checking on the safety of all in the development?

5.  Have you appointed an out-of state contact who can coordinate communication in the event of phone and/or Internet service being down?

6.  Would a gas power generator make sense to include in your kit? 

7.  Have you taken a first aid and CPR (cardiopulmonary resuscitation) course?

For more ideas, please see “10 Ways You Can Be Disaster Prepared” on the California Emergency Management Agency Website. 

Earthquake Preparedness Checklist Are You Prepared For A California Earthquake?

 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 

 

 

Free Realtor Tools For Consumers!

For anyone interested in Palm Springs California Real Estate, there is a new resource that will enable the user to search and research like a professional Realtor.  This is particularly powerful if you’re a Seller who is frustrated about your listing having Expired without offers, and one who doesn’t want to repeat this exasperation! 

The information in Listingbook comes straight from the Multiple Listing Service – as you probably know, the MLS is an association of Real Estate Brokers that agree to share listing information with one another. The MLS has the most comprehensive and current information about listings in your area. Listingbook updates that information hourly, giving Buyers and Sellers a trusted and dynamic resource to help make an informed decision.

SELLERS WELCOME INFORMATION!

This special Listingbook account that is being offered to you is the same that we provide as a service to our clients. This will give you access to the same database that we use in the real estate business that you can access 24/7 from any computer. Your account is free and loaded with powerful and helpful tools you will not find in any other service. It is extremely easy to use.

With Listingbook Sellers Have The Following Tools:

CyberCMA: Competitive Up-To-The-Minute Market Data
24/7 Access to Information on Your Competition
Local Price Trends
Your Property Exposed to the Appropriate Buyers
Daily Morning Report Showing Recent Activity, including:
Price Changes
New Listing Alerts
How Many Views of Your Property
How Many Marked Your Property As Favorite
Stay Informed About New Listings and Price Changes in Your Neighborhood.
See How Many People Are Interested in Your Home, and Get Measurable Results of Our Marketing Efforts to  Get Your Home Sold.

BUYERS WELCOME INFORMATION!

As it will for Sellers, this system will give you access to the same database that we use in the real estate
business and you can access it 24/7 from any computer. It will provide you with up-to-the-
minute data on all the properties that are on the market that matter to you.
Your account is free and loaded with powerful and helpful tools you will not find in any
other service, and it you’ll find it extremely user friendly.

With Listingbook Buyers Have The Following Tools:

Days On Market
Price History
Map Reports
Open House Invitations
Price Reduction Notifications
New Listing Alerts
Property Photos & Virtual Tours
Buyer’s Favorites Folder                                                                                                                            
Make an Informed Decision and Find Your Dream Home                                                                                            
Receive Automatic Notification of Price Reductions and New Listings.

SIGN UP TODAY BY CLICKING HERE

Before signing up, please don’t forget to click the LIKE BUTTON on the top of our Love of The Desert Business Page on FACEBOOK!

Listingbook Photo1 Free Realtor Tools For Consumers!

Access Information Like a Professional Realtor