2009

Monday, January 12, 2009

by The Zwemmer Group

Monday, January 12, 2009
by Rob Zwemmer

Good Monday morning
80°F | 50°F

One thing that I have noticed here in the Palm Springs Area over the past several months is
that one group of home buyers are snapping up the deals and the other group is waiting until
the Real Estate Market is starting to decline even further.
The facts are:
• Interest rates are on 50 year low
• Palm Springs Home prices are down 38 %
• Foreclosures and short sale Sale properties are being sold for 40 – 50 cents on the dollar
• The Canadian Dollar is still on a 15 year high.
• Our current housing inventory here in the desert is down 12 % compared to last year
• Desert properties DOM (Days On Market) has dropped from 115 days to 79 Days.

There are so many great deals here in the Palm Springs Real Estate market, that by predicting
the bottom of the market, you might have missed one of the greatest investment opportunities
in our lifetime.

The Media reports about a slow economy and a bad Real Estate market have created a hype where
some home buyers are afraid to act.

Home buyers were standing in line to enter a bidding war, when home prices were souring 2 years ago
here in the desert.

Now home values have come down and are under market value, few people are interested.
If you are considering a first, second or even an investment property, This is the TIME!
To have direct acces or to get instant e-mail alerts when a new property shows up
visit: 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.

Palm Springs Mortgage Market update!

Last week we noticed the Federal Government purchase about $10 billion in mortgage
securities, what will create lower interest rates for home buyers and home owners.
We don’t know how long these low mortgage rates will last but we do know that low home prices
and low mortgage rates means home buyers are getting a great deal no matter what!

For Home Owners it’s a great time to refinance or modify your existing loan.
Send me a note and I will get you in touch with one of our mortgage specialists

1 Canadian Dollar = 0.83737 U.S. dollars (Today)