LivetheDesertLife

Don't Take My Word For It

 

Via Tina Droessler (La Quinta, CA ~ The Lori Bowers Group Desert Properties):

Trulia.com reported that as of January 1, 21 percent of homes currently on the market have experienced at least one price reduction. Read more..

Has La Quinta Home Prices Hit Bottom?

It's the question everyone is asking. Has La Quinta's market hit bottom? According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), home sales in California hit bottom more than two years ago, and the median home price of an existing, single-family home reached its trough in February. 

Myself and even some economists are forecasting another surge of foreclosures in 2010.  However, C.A.R.'s economists expect that foreclosures will remain flat this year compared with 2009. Reason being that in 2008, lenders flooded the market with foreclosures, and as a result, the state's median price declined by historic levels.  Conversely, in 2009, foreclosed properties were listed at a more measured pace, which helped moderate further declines in home values.

C.A.R.'s projects that the median home price in California will rise 3.3 percent to $280,000 in 2010. 

Read more...

What's ahead for La Quinta?

La Quinta's real estate forecastAccording to C.A.R., California remains ahead of the nation in market recovery because many first-time home buyers are entering the market due to affordable home prices, low mortgage rates, and first-time home buyer tax credits from the state and federal governments. Investors are also starting to jump back into the market as rental rates now pencil out.

Nevertheless, credit is still tight and unemployment remains high, which could hinder a full market recovery until 2011. Mortgage rates are expected to creep up by mid-year and close the year at nearly 6 percent.

For more information on the Palm Springs area and La Quinta's real estate market, please email me.

 The Lori Bowers Group Desert Properties, La Quinta, CA

 

      If you are looking for a great real estate agent in the Palm Springs area,  

  Let me GOOGLE one for you!

                                                              

 

                                               

Kathy Schowe   760.333.8886               

     Visit:          schoweproperties.com & livethedesertlife.com                 

                                                               

The Lori Bowers Group  La Quinta, California

 

1 comment • Kathy Schowe • January 17 2010 11:20PM

Even the Experts are Buying Homes

 

Via Gabe Sanders, Stuart Florida Real Estate (Premier Realty Group):

Home prices have hit bottom in most areas of the country, but they're not like a rubber ball. Sellers can't expect much of a bounce. Homes for Sale

At the Center for Economic Policy Research, in Washington D.C., analysts are predicting that the pricing arrow is pointing up, but not very far. There are still too many foreclosed homes on the market.

So, what did the center's co-director do? He bought a house. He doesn't expect its value to rise much in the foreseeable future. But the home had features he loved. The price was affordable, and the loan's interest rate was below 5 percent.

This set of circumstances encouraged him to take the plunge and acquire a place his family could call home for many years to come.

Today's reasonable prices can make a good case for buying rather than renting, say advisors quoted in USA Today. While many first-timers are leery of making a long-term contract, here is a way you could determine if the move is a wise one.

Homes Sold* Divide the price of a home you are considering by the annual rent for a comparable place. If the number falls below 15, buying starts to look like a good idea.

* Consider whether you will stay in the home long enough to make the purchase worthwhile. Closing costs are high. If you intend to sell the house and buy another in two or three years, you could take a loss.

* Analysts say it's reasonable to buy a home only if you plan to stay in it for five to seven years.

 

 

Gabe Sanders and Susan Maxwell

Stuart Florida Real Estate 

Residential Homes, Condos and Land
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Search the Martin County MLS

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Call 772-323-6996 or 1-866-899-7977 for information

 

      If you are looking for a great real estate agent in the Palm Springs area,  

  Let me GOOGLE one for you!

                                                              

 

                                               

Kathy Schowe   760.333.8886               

     Visit:          schoweproperties.com & livethedesertlife.com                 

                                                               

The Lori Bowers Group  La Quinta, California

 

1 comment • Kathy Schowe • January 16 2010 12:01PM

How To Find Good Deals As The Buying Market Comes To An End

 

Via Michael LaFido (Realty Coaching Club):

How To Find Good Deals As The Buyers Market Comes To An End

At some point in their lives, every home buyer in America has wondered "Is now the best time to buy a home?" In this 3-minute video, NBC's The Today Show does a good job of answering the question.

The conclusion? Yes, but not if you're going to overpay.

The Buyers Market is ending, we learn, as home prices rise across most of the country.  Pockets of opportunity remain, however, and the focused home buyer can still find a "good deal".

Some of the video's tips include:

  • On what types of homes can you get the best prices
  • What you can learn from looking in a seller's closet
  • How to identify a desperate seller

The piece also goes negative on short sales, noting the amount of time required to buy one.  Short sales typically do take longer to close versus a "traditional" purchase, but that doesn't mean they should be avoided. 

There's plenty of bargains in the short sale arena, too.

Posted by Michael LaFido on October 30, 2009 | Tags: Home Buying

 

      If you are looking for a great real estate agent in the Palm Springs area,  

  Let me GOOGLE one for you!

                                                              

 

                                               

Kathy Schowe   760.333.8886               

     Visit:          schoweproperties.com & livethedesertlife.com                 

                                                               

The Lori Bowers Group  La Quinta, California

 

1 comment • Kathy Schowe • October 30 2009 06:58PM