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.

Good Monday Morning,

It's time to welcome one of the best times in the desert... the Fall Season!

Summer is slowly turning into fall, and the desert is ready to welcome in another exciting season.

Now is a perfect time to think about purchasing your new getaway home while prices and interest rates continue to be competitive. Home prices are still at their lowest in years and your beautiful new dream home is

out there waiting for you. Remember, it is still a buyer's market, and you can find incredible deals all around the desert.

Opportunity is knocking on your new front door!

There are still great deals out there

To have direct access to these properties: http://www.FindMyDesertHome.com

If you are considering the sale of your home you can receive an e-mail analysis that

will give you a good indication of your homes current market value at http://www.DesertCMA.com.

Mortgage Market update!

It appears a deal has been made!Congressional leaders and the Bush administration
announced they've reached an agreement to spend up to $700 Billion on the historic Bailout
Plan. Details are still pending.

Taking a look back at the past week:
Japan's Mitsubishi Financial Bank will purchase 10% to 20% of
Morgan Stanley. Billionaire investor Warren Buffett's
Berkshire Hathaway is investing $5 Billion into Goldman Sachs. Washington Mutual
was seized by the federal government, and
assets sold to JP Morgan Chase for $1.9 Billion.

Today:             1 Canadian dollar = 0.970591 U.S. dollars
Last Week:     1 Canadian dollar = 0.94402 U.S. dollars
 

30 yr fixed mtg		5.98%		5.87%
15 yr fixed mtg		5.65%		5.59%
5/1 ARM		5.98%		5.92%
30 yr fixed jumbo mtg		7.20%		7.06%
5/1 jumbo ARM		6.38%		6.30%

Have An Awesome Week!

Rob Zwemmer