Monday, August 3, 2009

 

By Rob Zwemmer

 

www.DesertRealEstatePrices.com

 

 

Good Monday Morning

108°F | 80°F

 

Welcome to the bottom of the market !

 

As the temperatures are going up, so are the residential sales and the median home prices.

 

As expected this summer will be the bottom of the market here in the Palm Springs area. Residential Inventory in the Palm Springs area is down to just over 5000 units. Taking that number and dividing by the 850 closed sales for June,….shows an inventory of 5.9 months…. A number that most would suggest is reaching a neutral market.

 

What else do we see ?

 

·        Existing home sales rose 43 percent from June 2008.

·        The median home price came off the $180,000 shelf, clocking in at $191,250.

·        The highest-priced property out of the 850 sales fetched $2.9 million.

 

 

With the Canadian dollar making its come-back , low interest rates and great tax incentives for first time homebuyers, there has not been a better time to buy.

 

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

http://www.DesertBankOwnedHomes.com

 

 

 

Here is an article that was published yesterday by the Desert Sun:

 

Welcome to the bottom: Housing begins rebound

by :  The Desert Sun   Published Sunday August 2 ,  2009

 

 

 

 Palm Springs Area Mortgage Market update!

-

Mortgage Rates                  Today +/- Last Week 
 30 yr fixed mtg                    5.33%      5.42%
 15 yr fixed mtg                    4.81%      4.90%
 30 yr fixed jumbo mtg       6.26%      6.40%
 5/1 ARM                                4.59%      4.42%

-

1 Canadian dollar = 0.92687 U.S. dollars

         

 

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