Photo by Mark Cieslikowski
If you visit the Indian Wells Tennis Garden's website you will read an interesting article regarding the impact that the facility brings to the Coachella Valley.
There is no question that the tennis garden affects real estate in the local community, not only with home and condo sales, but with seasonal leases. Tennis players and fans worldwide visit the area in March and lease high-end homes in La Quinta and Indian Wells, not to mention other cities here in the valley.
I think the March 9-22, 2015 BNP Paribas Open event will be a very busy time for local businesses, restaurants and shops. Tickets and packages are available here and I highly recommend a dining outing at Nobu. The food and service are fantastic!
Monday, October 27, 2014
Thursday, October 23, 2014
Looking at Indian Wells September sales we can see that listings have gone down slightly from this time last year. The number of sales are up by only one home, from 11 to 12. Average sale prices are down from last year but average sq. ft. price is up by over $100/sq ft. Homes are on the market for more days this year overall indicating sluggish sales. Hopefully buyers will be coming into town for season ready to purchase their dream home in beautiful Indian Wells.
I have seen quite a bit of activity this year in Mountain Cove, a lovely little enclave south of Hwy 111 and nestled against the hills. The toughest part of selling in there is that it is on leased land. Leaseholders are Ryan Oil and Indian Wells Holding Company. It looks like there will be more opportunities to buy out some land leases soon, which will help sales in there tremendously. There are already a few homeowners that have exercised their option to buy. In November a meeting will be held to discuss options. I'll post an update when we know more.
Monday, October 20, 2014
Today we are looking at recent sales and market statistics for the city of La Quinta. Inventory has risen since June 2014 and so have median prices. Price per square foot has also risen slightly since 2013. Distressed properties are a very small part of the market now, thankfully. Interest rates are still historically low. Now is a great time to buy!
See charts below (provided by movoto.com)
See charts below (provided by movoto.com)
Friday, October 17, 2014
It's great to see the upcoming Season event schedules going online. This is an event worth going to.
La Quinta Arts Foundation sponsors Art Under the Umbrellas in Old Town La Quinta beginning on Saturday October 25, 2014.
Thursday, October 16, 2014
Love mid-century design?
Check out the February event in Palm Springs
Modernism Week 2015 Tickets go on sale Saturday November 1 at noon.
Modernism Week’s signature February Event is an annual celebration of mid-century modern design, architecture, art, fashion, and culture. This exciting “festival” takes place in February in the Palm Springs area of Southern California. It features more than 100 events including the Modernism Show, home tours, films, lectures, double decker bus tours, parties, walking and bike tours, a pre-fab showcase, vintage fashion, live music events, a vintage travel trailer exhibition, and more.
Click on the link above to visit their website and learn more!
Monday, October 13, 2014
Greetings friends. This post marks the beginning of a new series of blogs. I will be blogging about sales trends, upcoming events, my sales activity, and real estate news for Coachella Valley.
I often am asked, "how is the market" in your area, and I have to answer it depends upon whether you are a buyer or seller. Compared to 2013, sales are down somewhat. The good news for buyers is that interest rates are holding at very low rates. For sellers, prices are steady or going up in most areas of the Coachella Valley. See chart below.
Price changes from 2013 to 2014 are the most interesting to me because in some areas prices have gone up quite a bit from last year, such as Indian Wells and Palm Springs, while others are almost the same or down. In La Quinta and Palm Desert, the Average and Median Sales prices are down while in all other areas they are up. La Quinta consistently has the most number of Single Family Home sales and Palm Springs has the most number of Condo sales.
What does all of this mean? I believe it is a good time to both buy and sell here. Many of my clients are getting ready to list their homes and trade up for the upcoming season. All indications are that inventory will be on the rise and sales will be brisk through at least May of next year. I'm looking forward to a busy time and participating in many of the great events in the 2014/2015 season!