Real Estate Information Archive

       4  REASONS I AM OPTIMISTIC  ABOUT Real Estate IN 2010

Increasing Sales:

The market absorption is underway. Last year we clocked at 27% sales increase here in the Palm Springs area compared to 2008. Prices don’t have to fall further by a large percentage (as they already have from 2004/2005 high ) for sales to be generated. The window of “best opportunity” is closing.   

 Nothing - good or bad – lasts forever.

sellers Are Starting to Get It! :

Seller are realizing more and more each day that proper pricing at time of listing is their best marketing tool. This is still a buyer’s market. Unless you are the lowest priced, best maintained, best located property on the block it’s not a fair fight. buyers have more cash and time than sellers. Plus even if you are lowest and best --- the marketis still not on your side.

buyers Are Starting to Get It! :

Banks/Lenders are not looking at first offer received. They are imposing waiting periods such as 5 or 10 days +/- , from the day the listing first hits the market to seek multiple offers. buyers are getting the message: You may need your best offer up front – and all cash offers beats financing. The Banks / Lenders are more likely to choose one rather counter back and forth with everyone.

Lenders Are Starting to Get It:

The Process of getting a REO / foreclosure / bank owned or Short Sale to closing is improving. Everyone is simply getting better over time at making these transactions work. It’s still slower than anyone would prefer – but if you do something enough you just have to get better at it.

 Monday, November 9, 2009

By Rob Zwemmer

www.DesertRealEstatePrices.com

Good Monday Morning

84°F | 55°F

Are we moving to a  sellers market?

Many of us are asking where is the housing inventory.

Are we moving to a  sellers market? The answer is ?  not yet!

The government introduced a new program for home owners who are behind in their payments. This program is called MHA  “Make Home Affordable”

Before Home owners can apply for a Short Sale! They have to work with their bank to see if they can modify their exciting mortgage.

If they are not able to modify their mortgage (s) than they can apply to do a short sale.This only apply to primary home owners.

This will reduce the inventory for short sales by 20% - 25% on top of that banks and investors are releasing the foreclosures in smaller numbers as before. I am expecting more foreclosures in the Luxury home market this season.

What else do we see ?

·        Existing home sales rose 28 percent from October 2008.

·        The median home price came in at $195,000 . This is the fourth straigt month has gone up.

·        The highest-priced property out of the 780 sales fetched $2.2 million.

With the Canadian dollar holding strong , low interest rates and great tax incentives for first time homebuyers, there has not been a better time to buy.

1 Canadian dollar = 0.940999 U.S. dollars

There are still great deals to be made! Don’t miss the opportunity this time !

http://www.DesertBankOwnedHomes.com

E-mail me with any questions you might have

Have An Awesome Week!

Rob Zwemmer

AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertrealestateprices.com/Morning-coffee

PS:

if you know of someone who would appreciate the level of service I provide, please e-mail me with their name and number, and I'll be happy to follow up and take great care of them.

Monday, October 5, 2009

By Rob Zwemmer

www.DesertRealEstatePrices.com

Good Monday Morning

82°F | 52°F

It’s the perfect storm for home buyers!

The summer is officially over and we are getting ready for our 2010 season here in the Palm Springs Real Estate Market. The temperatures are in a comfortable low 90’s and the golf courses are being prepped and seeded for our new season.

So let’s recap last month sales here in the desert!

The summer of 2009 was one of the best summers I have seen so far in the last 3 years. Of the total sales, 866 were recorded in the Coachella Valley — up 12 percent over September 2008, and slightly up from August of this year.

The median home price paid for a Coachella Valley home or condo was $178,000 in August, slightly down 1.5 percent from July.

Now, in a few local areas like Bermuda Dunes, La Quinta, Palm Desert and one section of Palm Springs — recorded sales that resulted in median home prices in the $200,000 to $275,000 range.

We have seen a small increase of sales in the luxury home market in September, vs the same month last year. Luxury home sales aren't easy to snare in these times, but they are happening.

Residential Inventory in the Palm Springs area is down to just over 5000 units. Take the current housing inventory and divide by the 866 closed sales for August, shows an inventory of 6 months….

A number that most would suggest is reaching a neutral market.

bank owned Homes and Short Sales still makes up for the majority of sales here in the desert.

It’s the perfect storm for home buyers. Deep discounts on properties, historic low interest rates and great tax incentives are driving home buyers to snap up these great opportunities.

To receive a complete list of bank owned Homes here in the desert visit:

http://www.DesertBankOwnedHomes.com

What else do we see?

·        An increase of appraisals from banks for distressed homes over 4000 sq.ft.

·        Interest rates will stay where they are through next year

·        This is the final month to take advantage of the first-time home buyer $8000 Tax-Credit.

·        The highest-priced property out of the 866 sales fetched $2.2 million.

·        The Canadian dollar is still very strong.

      (1 Canadian dollar = 0.93 U.S. dollars)

There are still deals to be made! Don’t miss the opportunity this time!

E-mail me with any questions you might have

Have An Awesome Week!

Rob Zwemmer

AND HERE'S YOUR MONDAY MORNING COFFEE!!

http://www.desertrealestateprices.com/Morning-coffee