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Palm Springs, CA Real Estate News

By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
MARK YOUR CALENDARS!!  March 2008Pacific Life Open Tennis TournamentPalm Springs AreaDates: March 10-23 2008Indian Wells Tennis GardensIndian Wells, CAFor more info:Phone: 800-999-1585 orVisit website: www.pacificlifeopen.comDesert Swing'n Dixie Jazz FestivalPalm Springs, CA Dates: March 14-16 2008 For more info: Call 760-333-7932 or Website: www.desertjazz.org Palm Springs Renaissance FestivalOld World FestivalDates: March 28-30 2008Location: Frances Stevens Park in Palm Springs, California, at 538 North Palm Canyon Drive, Palm Springs , CA.For more info: Phone: (800) 320-4736 orVisit website: www.renaissanceinfo.comApril 2008Kraft Nabisco Championship LPGA TournamentPalm Springs areaDates: April 1-6 2008Location: Mission Hills Country Club, Rancho Mirage, CAFor more info: Phone: 760-3...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
For all my mid-century clients and contacts, check out http://www.modernphoenix.net/tours.htm April 4 - 6.  Its a great opportunity to tour some cool Arizonia mid-century architecture, listen to some good lectures, participate in some hands on classes....I'll be there that weekend.  I haven't spent much time there but from the looks of things, I like the mid-century architecture.  Hope to see you there!    
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
                                    Here's the latest sales statistics for new home and resales for February.  We're not THAT far off from last year actually.  March has picked up substantially too.   CLOSINGS FOR FEBRUARY 2008               2008   RESALES       NEW              2007    RESALES       NEWPALM SPRINGS/CATHEDRAL CITY                         137               8                             176             20DESERT HOT SPRINGS/NO. PALM SPRINGS/THOUSAND PALMS                          42              16                               57             14RANCHO MIRAGE/PALM DESERT/INDIAN WELLS/LA QUINTA                        268              17                              313             54INDIO/COACHELLA EAST TO THE COLORADO RIVER                        121               4        ...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
We've been experiencing some Foreclosure properties selling after only being on the market for days lately!  If a property is priced right, it will sell, and often we see multiple offers. So yes, it is a buyers market.  Yet, buyers need to be prepared to jump on great deals when they hit the Multiple Listings and be ready to compete for them.  The market is flooded with buyers sitting on the sidelines, closely watching, waiting for these great buys.  As a result, be prepared,  and ready to go, so you can take advantage of well priced property deals too.   I monitor the market throughout the day and notify my registered buyers of good buys as soon as they are listed.  If you're interest, please sign up on my website, www.PaulKaplanRealtor.com or www.RepoCaravan.net to learn how to positi...
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By Elaine Stewart, RE/MAX All-Pro
(Elaine Stewart is the #1 Individual RE/MAX Agent for 13 years straight in the Coachella Valley. (760) 668-2399 )
   What better way to step back some years in time and re-visit your college days than to attend the happening event , the Coachella Valley Music Festival, located in Indio, California on the Empire Polo Fields.  Thousands of people have flocked to this annual event that promises to hold, this year, one of the most diverse line ups in entertainment than has ever been held in the previous years of show dates. Boasting performing artists from varied backgrounds and varied genre of music with group names like Portishead, Kraftwerk, and many more.  Over 100 artists have been listed and in years passed have played in various tents with names like, the Gobi tent, Sahara tent, Mojave tent, and on multiple stages such as the Coachella stage and the Outdoor Theater.  These locations are spread ...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
The local building industry in the Palm Springs area has put together a Showcase of Homes tour, highlighting new home communities in the desert.  Go to http://desertchapter.web200.inetu.net/showcase/ You can enter to win a shopping spree at Patios Plus for $10,000 too, as well as see some great model homes. Even if you're not in the market right now, its a great opportunity to visit various model homes and see what is available.Have fun!Paul 
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
The famous Palm Springs Riviera Resort has been undergoing a multi-million dollar renovation over the last few months.  Its due to reopen in the fall of 2008.I drive by it everyday on my way to the office.  This past week, I noticed they're attacking the tacky facade that was put up in the 80s, and bringing it back to its original mid-century design.  Its exciting to see this great resort re-emerge!  Check out the website:  http://www.psriviera.com/riviera_home.aspxThe new resort and spa will be a welcome and exciting addition to Palm Springs.  It will definately add to the revitalization of the hip north end of town.  
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By Desna Mandich
(Keller Williams Realty)
By this time, it seems like everyone has there own induvidual idea of where the market in going in Palm Springs.  But the truth of the matter is that with foreclosures on the rise, short sales are becoming more and more seen in the Coachella Valley.  With a knowledgable agent, sellers are able to avoid foreclosure by finding a buyer who is willing to wait out a short sale. Short Sales can benefit both buyers and sellers.  Obviously sellers are able to avoid foreclosure and a significant negative burden on their credit.  Buyers are able to purchase properties at below market values making this a Win Win for both parties. If you are a seller who would like more information on short sales, please feel free to contact me for more information.  Let my knowledge work for you! 
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
2008 Modern Home TourThis year there is an exceptional collection of incredible Modern residences on the tour, many of which are rarely if ever accessible for the general public! Wexler House, 1955, architect Donald Wexler's own home (first time open since recent rehabilitation by the current owner)Abernathy House ("The Pavilion House"), 1962, William F. Cody (the house, once owned by designer Hal Broderick, is a Cody masterpiece)John Porter Clark House, 1947, architect John Porter Clark's own home (a manifesto of Desert Modern design rarely available for public viewing)Stewart/Dyer House, 1962, an Alexander home by architect Charles Dubois (an amazing house with stunning interiors)Allan Carr House, 1959, Frey designed pool and waterfall (situated up the mountain between Burgess and Fre...
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By Elaine Stewart, RE/MAX All-Pro
(Elaine Stewart is the #1 Individual RE/MAX Agent for 13 years straight in the Coachella Valley. (760) 668-2399 )
"Flipping" houses is a huge reason that many people decide to get into the real estate investment business with many choosing to partner with close friends and family. This can be a wonderful idea because you are sure to have skills and other strengths that differ from your partner, which can make becoming business partners a very solid business choice.Now as great as this all sounds becoming business partners with a close friend or family member can also turn out to be a very bad situation should something go wrong during the course of selling the home. Many people that have flipped homes with someone they were close to have had their relationship with their business partner suffer greatly and many times the relationship is even ended over something going wrong.The following are some g...
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By Elaine Stewart, RE/MAX All-Pro
(Elaine Stewart is the #1 Individual RE/MAX Agent for 13 years straight in the Coachella Valley. (760) 668-2399 )
One of the smartest as well as easiest ways for someone just getting into the real estate market to be in a position to purchase a home is to locate a property that has been foreclosed upon. Most all banks that you talk to would like nothing better to be able to get out from under the responsibilities of insuring a foreclosed home. Banks will very often part with a home that they have foreclosed upon at a huge discount just as long as they can recover enough money to pay off the outstanding loan on the property. There are some very savvy (and many would say lucky) home buyers have been able to purchase foreclosure properties in the Palm Springs Real Estate Market for as much as fifty percent off of their original market value. Most looking for these properties are going to find that th...
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By Charles Dismuke, Palm Springs Mortgage Guy
(Amerifund Lending Group)
A mortgage rate is born from the price of mortgage bonds and nothing else. Not the Federal Funds rate, not the 10 year treasury note, and nothing else, either.But mortgage rate pricing doesn't end there. From the price of mortgage bonds, all we get is the "base mortgage rate".The rates themselves are subject to additional adjustments based on the loan's inherent risk factors.Some of these risk-based adjustments are well-known by us in the mortgage profession.- Occupancy Type:- Credit Score- Available equity or LTVOther adjustments may not be as well known to borrowers and these are the adjustments that can put homeowners into costly mortgage planning mistakes.The most ignored interest rate adjustment truns out to be a fairly easy one to manage...It's the mortgage rate lock commitment pe...
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By Charles Dismuke, Palm Springs Mortgage Guy
(Amerifund Lending Group)
Canadians and other "Foreign Nationals" are sweeping up American property like crazy. This is happening mainly because the value of the American dollar has been in a constant freefall lately.According to x-rate.com, a property selling for $300,000 American dollars would equal less than $200,000 Euros.                                                 Why in today's tightened credit market would banks be willing to lend to Foreigners? Well, for starters, they don't always have to. In the Palm Springs mortgage market where I am at, they are paying cold hard cash for homes! But for the people they do lend to it seems that foreigners are showing to have- Strong, consistent income- Are willing to make the large down payment necessary for financing, up to 30%- Have plenty of assets and reserves...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
As of March 1, 2008, there are currently 222 condos available for sale, under $200,000; and 270 single family homes under $300,000  in the Palm Springs/Cathedral City markets. Palm Springs has a higher concentration of condos in this price range: 157 Cathedral City has a  higher concentration of single family homes in this price range: 209  The Palm Springs market is definately affordable again.  Great for investors too that can now buy properties  where rents will cover their mortgages and some may even have positive cash flow.  
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
Palm Springs airport landscape architect fights adding native plantsStefanie Frith • The Desert Sun • February 29, 2008PALM SPRINGS - At a time when homeowners, businesses and cities across the valley are looking to conserve water by converting green space to desert landscapes, some at the Palm Springs International Airport are pushing back.The use of grass and flowers versus desert plants - a mid-century modern aesthetic versus a tropical vibe - is at the heart of an emotional debate over a plan to renovate the landscaping inside the airport.On Wednesday, the airport's landscape architect choked up when he presented his vision for the airport's outdoor lobby during the Planning Commission meeting."People like color, fragrance and grass," said Michael Buccino, pausing for a moment to ca...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
We spent the weekend researching the best REO properties available in the north Cathedral City neighborhoods of Tapestry, Rio Vista and Century Park to be included on our next REO tour.  Its amazing what special values are out there right now: Highlights:  3 bedroom 2 bath home with pool - $239,000                  4 bedroom 2 bath home for $229,000                  4 bedroom 2 bath home on a cul-de-sac, amazing views, huge pool sized yard, close to Century Park  $299,000                   2 bedroom + den, great room plan, direct west mountain views, center island kitchen, 12' ceiling,  built in 2002  $259,000 (similar homes in this development previous sold for over $400,000 not long ago)   Plenty of others out there.  Great opportunity for first time buyers and investors.  4 bedrooms ...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
We're now taking reservations for our March 15th Repo Caravan tour on March 15th.  This tour will focus on single family homes in the Cathedral City area, from the low $200's +  We've sorted through all the listings currently available and have chosen the best properties to be featured on this tour. We're happy to help our cients with personalized one on one tours of REO Properties.  Please contact Pau for more information.  Great deals out there!
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By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
EXTRA, EXTRA, READ ALL ABOUT IT!!!We all know bad news sells newspapers.  Whether it is the latest celebrity going to rehab or the Dow dropping 150 points, we are fixated on the bad.  For the last year, we have been inundated by the media on how terrible the real estate market is across the country.  We all have to remember that real estate market is local, and that was is happening in Michigan is not necessarily happening in Palm Springs.   It drives me crazy when publications like the Desert Sun will report in bold headlines, "The Palm Springs Real Estate Market Continues Downward Spiral", but in small print on page 6, "home sales up for the month of December".During my research in the Palm Springs MLS for the January 2008 home sales report, I found a silver lining: Median Home Price ...
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By Elaine Stewart, RE/MAX All-Pro
(Elaine Stewart is the #1 Individual RE/MAX Agent for 13 years straight in the Coachella Valley. (760) 668-2399 )
The desert surrounding Palm Springs is not only known for it's high temperatures, dry air and spacious quality, but also for the shocking beauty of the desert life.  For those of you that have not taken the time to view the desert life as it displays itself during each season, then you need to pay a visit to the Moorten Botanical Gardens where you will find yourself immersed in the beauty of the hidden desert life and you can find out for yourself exactly why it is that so many people have chosen to make it their home. Proudly claiming to be a "living museum", this magical location provides the average visitor with enough information to understand and recognize the beauty of the desert, with a twist -- Moorten gives you a view of the desert life, re-invented.  With so many paths to cho...
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