Tuesday, December 29, 2015

Biggest News of 2015 for Bennion Deville Homes

For those of you who do not know yet, Bennion Deville Homes separated its ties from Windermere Real Estate franchise and became an independent brokerage.  The new website launched in November 2015. See below.

Bob Bennion and Bob Deville, Founders of Bennion Deville Homes, one of the largest independent residential real estate brokerages in Southern California, officially launched their new independent brokerage on Thursday, October 1, 2015. The brokerage’s break for independence from the franchise model along with the new name and branding reflects an enhanced focus on Bennion Deville Homes’ ongoing growth strategy.
The 29-office real estate company, including 17 Coachella Valley locations, debuted the brokerage’s innovative branding in a companywide meeting to more than 1,000 agents from throughout Southern California last week. Bennion Deville Homes agents and their clients met the news with much excitement. The company also announced cutting-edge marketing and technology tools that will become available on BDHomes.com, the company’s new website, over the coming months, including map-based search, enhanced listing features, and more. The agent support programs will also get a boost, helping Bennion Deville Homes agents continue their legacy of exceptional client support and results-oriented service.
“Bennion Deville Homes’ philosophy of supporting real estate agents’ individual marketing efforts, coupled with exceeding the expectations of our buyers and sellers, is the basis for every decision we make,” said Deville. “Our business model provides a strong, recognizable brand while offering company support through full-service marketing, technology, brokerage, and administrative services. This combination has resulted in record-setting sales figures since our company’s inception in 2001.”
Bennion and Deville stress that all aspects of the Southern California-based bedrock brokerage will remain the same. “We have been a self-supported operation for over 14 years. All of our exclusive marketing and technology programs, market stats and data, and every location throughout Southern California will remain with us. The same friendly agents, staff, and Managing Brokers, who have been serving our clients since 2001, are still here. The only change to the way we do business is the company name,” Bennion added.
Deville cited the need for flexibility to meet the ever-changing demands of the marketplace and the sky-rocketing franchisee fees as reasons for going independent. “We outgrew the franchise model and think that this move is in the best interest of our agents and their buyers and sellers, as well as for the future growth of our company,” Deville said.
“We know the brand we developed will appeal to a wide range of home buyers and sellers,” said Bennion. “From Millennials to Baby Boomers and the Greatest Generation, and everyone in between, we know our fresh look resonates with every major demographic and price point, and perhaps most importantly, with our agents.”
Bennion and Deville worked under a franchisor based in the Pacific Northwest for the past 17 years, initially as real estate agents, then as brokers in Seattle. They subsequently opened their first franchised real estate office in Southern California in 2001. Since then, the agent-owned and operated company has posted more than $16.8 billion in sales in the Coachella Valley, and San Diego and Orange counties.
For more information on Bennion Deville Homes, including the office location nearest you, please visit BDHomes.com or call (760) 341-4141. Stay up-to-date on the latest community and real estate industry news by following us on social media, including Facebook and Twitter, @BDHSoCal.

Tuesday, August 4, 2015

New Market Stats

Windermere Real Estate has just made the 2nd Quarter home sales statistics available for Palm Springs, San Diego and Orange County areas. You can find them on their site under Our Blog/Magazines. The information can be quite useful if you are planning on buying or selling a home. 

In general the Coachella Valley is currently a Buyer's Market both in the Luxury Market and the Overall Market. With inventory still up from last year, and prices down in some areas, now is a great time to find a bargain. The report is broken down by city. In Indian Wells for example prices are down 14% from last quarter and down over 30% from last year and La Quinta is down 17% from last quarter and but down only 9.4% from last year. Compare that to Palm Springs whose average sale price rose 10.5% over last quarter and is up 13.7% from last year. 

So when one asks how the market is here in the Coachella Valley it is not such a cut-and-dried answer. 

The good news for sellers is that all indications point toward an uptick in prices in the fall of 2015 and for buyers now is the best time to buy before interest rates inch up further and home prices rise for the new season.

If you would like a full market analysis of your home feel free to contact me directly at meg@windermeresocal.com. Visit my website to learn more about me or do a fresh home search. 

Monday, August 3, 2015

Palm Springs area summer sales

With temperatures topping 109ยบ this last week we are definitely feeling the summer heat in Coachella Valley. Dramatic thunder, lightning and wind storms make it all the more exciting. Visitors reluctant to come in July and August don't always realize that early mornings and evenings here are gorgeous. The hottest part of the day is between 3:00 and 5:00 p.m. but the temperatures are in the 80s and 90s in the morning and evenings, pleasant enough to golf, walk, hike and do any number of outdoor activities, including house hunting!

This is the time when serious buyers come into town to purchase a home that can be made ready for the upcoming season. I have seen increased activity this year compared to last year and I am seeing more vacationers realizing the great summer deals not only in hotel and golf rates, but in home prices. With interest rates due to increase, now is the perfect time to buy your desert dream home.

For questions regarding the current market, contact me directly at meg@windermeresocal.com. Visit my website to see my listings or do a home search directly from the site.

Sunday, July 26, 2015

Valley Statistics

Market Watch Statistics

Frequently buyers and sellers ask about how the Coachella Valley is coming back since the downturn. I always find the statistics interesting! See below how percentages of price per square foot in each city relates to the all-time highs of 2006. While some cities are still struggling, you can see that Palm Springs is currently doing the best.

Perhaps this is a direct result of not only the revitalization efforts by the City of Palm Springs, but the fact the increasingly Palm Springs is again becoming one of the 'hip' places to live and visit. I think the popularity of Mid-Century Modern architecture and the vibrant night life in downtown Palm Springs makes it attractive to today's buyers.

With Indian Wells' reputation of being one of the best places to 'live well', and with the popularity of the BNP Paribas Tennis Open at the Indian Wells Tennis Gardens, it is good to see that home values are inching closer to their highs.

Out of the area prospective buyers would do well to investigate what the positives are for each city, what activities each city specializes in and how they meet their needs the best, such as proximity to shopping, golf and tennis opportunities, hiking and outdoor activities, casinos, music, art and cultural events.

Even with home values ever increasing, we still have a bit to go for homeowners to realize their equity if they purchased a home between 2004-2006.

Price per sq. ft. % as compared to all-time highs in 2006:

Desert Hot Springs      54.5%
Coachella                     55.6%
Cathedral City             65.6%
La Quinta                    65.6%
Indio                            66.2%
Rancho Mirage           67.4%
Palm Desert                 69.2%
Indian Wells                74.1%
Palm Springs               87.1%

We did indeed see year over year negative returns in some cities since the spring of 2013, but all indications point to listing prices rising this coming season. Savvy buyers are purchasing this summer and taking advantage of the still good interest rates and the price reductions of some homes.

Source data - MLS.COM

Monday, July 20, 2015

Small Community on the Upswing?

Indian Wells, California: A beautiful desert destination offering vacation resorts, exclusive gated communities, golf, fine restaurants, and a lifestyle most people can only dream of. One of the biggest attractions in March is the BNP Paribas Open Tennis Tournament, which draws tennis players of the highest level and tennis fans from all over the world.

With this in mind, a forward thinking couple from Los Angeles purchased a home in the small enclave of Indian Wells Village, just to the west of the Tennis Gardens. The original 1962 home was completely torn down and rebuilt with eco-efficient and designer features with Mid-Century Modern architecture in mind. Completed in March 2015, the home is currently listed on the MLS for $589,000. There is nothing in the area like it, yet.

Other homes in the community are in the process of being remodeled and/or rebuilt. Hopefully this trend will continue and the face of Indian Wells Village will be filled with other updated eco-friendly homes that will be great for full and part-time homeowners or investors who will see the value in seasonal or long term rentals.

Click on the hyperlink below to see a virtual tour.
77476 Cheyenne Drive

Tuesday, June 2, 2015

Palm Springs Desert Resorts Restaurant Week

Palm Springs Desert Resorts Restaurant Week from May 29 - June 7 is one of the more enjoyable events of the year. Diners can order from a 3 course prix fixe menu priced at $26 or $38 or choose an item from the regular menu.

I started with Chez Pierre Bistro on May 29th. I had never been there before, and what a treat it was. I highly recommend it. The atmosphere was notably French, not too noisy and the chef came out to each table to talk to the patrons. There wasn't a table open when we arrived, so I would recommend reservations.

I also tried BB's at the River in Rancho Mirage for the first time. The atmosphere and bill of fare is similar to the previous restaurant, Acqua Pazza. I was happy to see gluten free, vegetarian and meat/fish options. The burger was good which included up to 3 toppings. It's worth a visit.

Choose from about 90 restaurants all over the valley for a fine dining experience!

Thursday, February 12, 2015

Modernism Week Starts Today

Feb. 12-Feb. 22

Visit the website to see the events schedule. There are still tickets available for some of the events.

Wednesday, January 21, 2015

Humana Challenge Golf Tournament is here!

Major sporting events are here in the Coachella Valley and so are the home buyers. New listings are coming on the market daily in anticipation of buyers ready to purchase either their new primary residence or vacation home. The season has started!

Humana Challenge
January 21-25
La Quinta, CA

Stop by my Open House in The Citrus!
79630 Baya, La Quinta, CA 92253
Saturday Jan. 24th 1:00-4:00
Sunday Jan. 25th 1:00-4:00
List Price: $699,000