Many many buyers have left the side lines and are committing to real estate. Sales volumes are up dramatically in the past 90 days in Rancho Mirage, Palm Desert, and Indio, and prices are increasing with more properties achieving asking price, and some achieving higher than asking price. The properties that represent the best deals are selling almost immediately; buyers are feeling much more confident. There has never been a better time to be a buyer and invest in our beautiful Desert.
M1 Properties has been involved in all areas of the Coachella Valley real estate market, from entry level to high end. We have been representing buyers and sellers from around the world. Check out our website to see a list of properties we are currently working on and call or email with specific questions. We are here to help.
Thursday, June 4, 2009
Sunday, April 19, 2009
Coachella Valley real estate sales up 19%
Debra Gruszecki • The Desert Sun • April 5, 2009
Real estate sales were in the triple-digits in February across areas hit hard by foreclosure and unemployment in 2008, but the median price for Coachella Valley homes held pat at $180,000 for two consecutive months, according to new figures from MDA DataQuick.
Median prices have trended down since the recession began in late 2007.
All told, DataQuick noted 723 sales in February. That represents a 19 percent increase over the year before when atypical foreclosure activity began and the economy hit the skids. Bargain-basement buying activity in February was hottest in: Coachella, where the sale of 52 homes represented an increase in 478 percent over the same time last year. Desert Hot Springs, where 102 transactions in the 92240 ZIP code area represented a sales volume increase of 292 percent and had the largest volume of sales. The median price paid there: $80,250. The highest priced home: $260,000. Other locales noting sales gains of 100 percent or more were Bermuda Dunes, Cathedral City and Thousand Palms.
Statistics also showed double-digit sales decreases in February in Indian Wells, Palm Desert and Rancho Mirage. The median price in Indian Wells and Rancho Mirage dropped 77 percent and 48 percent, respectively, to $340,000 — primarily due to the rise in condo sales there. The $340,000 price was about what a small condo in a great location could fetch valley-wide in February 2006, when the economy was steaming. Anecdotally, real estate agents are saying resale supply in the lower-priced categories is being scooped up at a rapid pace, and that foreclosure resales account for more than 56 percent of February's resale activity.Trend could be a good sign here. Greg Berkemer, executive director of the California Desert Association of Realtors, has pointed out that buyers are taking advantage of the affordable home prices in increasing numbers.
The valley has seen year-over-year sales increases for several consecutive months, he has pointed out. If that trend continues, it could signal a turn in the market and a bottom on prices.
Across Southern California, sales have been rising on a year-to-year basis since last July.
The California Association of Realtors has reported that existing home sales rose 83 percent across the state in February, compared with the same period a year ago while the median price of an existing home declined 40.8 percent. The data does not track new construction or the sale of homes not listed on the MLS. The median number of days it took to sell a single-family home on the MLS was 51.5 days in February, compared with 69 days a year ago. Statewide, the cities with the highest median home prices in California ranged from Santa Barbara, $897,500, to Fountain Valley, $542,000. No one city in the Coachella Valley had a median home price greater than $340,000 in February, according to DataQuick. However, five cities reported million-dollar sales: Indian Wells, with a $2.1 million home; La Quinta, $2.4 million; Palm Desert, $1.1 million; Palm Springs, $2 million; and Rancho Mirage, $2.5 million. DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiller and Associates, which monitors real estate activity nationwide, also noted that the typical monthly mortgage payment that Southland buyers committed themselves to paying was $1,090 last month, down from a revised $1,940 for February one year ago.
That rate makes the typical mortgage payment less than rent in some cases.
http://www.m1properties.com/
Real estate sales were in the triple-digits in February across areas hit hard by foreclosure and unemployment in 2008, but the median price for Coachella Valley homes held pat at $180,000 for two consecutive months, according to new figures from MDA DataQuick.
Median prices have trended down since the recession began in late 2007.
All told, DataQuick noted 723 sales in February. That represents a 19 percent increase over the year before when atypical foreclosure activity began and the economy hit the skids. Bargain-basement buying activity in February was hottest in: Coachella, where the sale of 52 homes represented an increase in 478 percent over the same time last year. Desert Hot Springs, where 102 transactions in the 92240 ZIP code area represented a sales volume increase of 292 percent and had the largest volume of sales. The median price paid there: $80,250. The highest priced home: $260,000. Other locales noting sales gains of 100 percent or more were Bermuda Dunes, Cathedral City and Thousand Palms.
Statistics also showed double-digit sales decreases in February in Indian Wells, Palm Desert and Rancho Mirage. The median price in Indian Wells and Rancho Mirage dropped 77 percent and 48 percent, respectively, to $340,000 — primarily due to the rise in condo sales there. The $340,000 price was about what a small condo in a great location could fetch valley-wide in February 2006, when the economy was steaming. Anecdotally, real estate agents are saying resale supply in the lower-priced categories is being scooped up at a rapid pace, and that foreclosure resales account for more than 56 percent of February's resale activity.Trend could be a good sign here. Greg Berkemer, executive director of the California Desert Association of Realtors, has pointed out that buyers are taking advantage of the affordable home prices in increasing numbers.
The valley has seen year-over-year sales increases for several consecutive months, he has pointed out. If that trend continues, it could signal a turn in the market and a bottom on prices.
Across Southern California, sales have been rising on a year-to-year basis since last July.
The California Association of Realtors has reported that existing home sales rose 83 percent across the state in February, compared with the same period a year ago while the median price of an existing home declined 40.8 percent. The data does not track new construction or the sale of homes not listed on the MLS. The median number of days it took to sell a single-family home on the MLS was 51.5 days in February, compared with 69 days a year ago. Statewide, the cities with the highest median home prices in California ranged from Santa Barbara, $897,500, to Fountain Valley, $542,000. No one city in the Coachella Valley had a median home price greater than $340,000 in February, according to DataQuick. However, five cities reported million-dollar sales: Indian Wells, with a $2.1 million home; La Quinta, $2.4 million; Palm Desert, $1.1 million; Palm Springs, $2 million; and Rancho Mirage, $2.5 million. DataQuick, a subsidiary of Vancouver-based MacDonald Dettwiller and Associates, which monitors real estate activity nationwide, also noted that the typical monthly mortgage payment that Southland buyers committed themselves to paying was $1,090 last month, down from a revised $1,940 for February one year ago.
That rate makes the typical mortgage payment less than rent in some cases.
http://www.m1properties.com/
Monday, April 6, 2009
Forbes Magazine says - buy a home before the economy recovers
Ten Things To Buy Before The Economy Improves:
Daniel Indiviglio, 03.31.09, Forbes Magazine
The deals you're seeing on everything from houses and cars to televisions and furniture won't last forever. The reason is simple: no buyers (to compete with).
Personal savings in 2008 were nearly six times greater than in 2005, amounting to $191 billion or 1.8% of the nation's disposable income. In 2009, annualized savings for January and February exceeded $450 billion, or more than 4% of disposable income.
For those feeling bold enough to bargain shop, opportunities abound. Some deals, like housing and automobiles, might be obvious, but others, like diamonds, might not be.
Big Ticket Items At the top of the list: 1.) Housing. This may be the best time in a generation to buy a home. According to the S&P/Case-Shiller U.S. National Home Price Index, fourth-quarter 2008 prices were down 25% from the four quarter of 2006. The stimulus bill Congress passed in February includes an $8,000 credit for first-time home buyers. According to bankrate.com, average interest rates are beginning to dip below 5% for a 30-year, fixed-rate mortgage.
Let M1 Properties help you secure the best big ticket item to buy before the economy recovers further.
Daniel Indiviglio, 03.31.09, Forbes Magazine
The deals you're seeing on everything from houses and cars to televisions and furniture won't last forever. The reason is simple: no buyers (to compete with).
Personal savings in 2008 were nearly six times greater than in 2005, amounting to $191 billion or 1.8% of the nation's disposable income. In 2009, annualized savings for January and February exceeded $450 billion, or more than 4% of disposable income.
For those feeling bold enough to bargain shop, opportunities abound. Some deals, like housing and automobiles, might be obvious, but others, like diamonds, might not be.
Big Ticket Items At the top of the list: 1.) Housing. This may be the best time in a generation to buy a home. According to the S&P/Case-Shiller U.S. National Home Price Index, fourth-quarter 2008 prices were down 25% from the four quarter of 2006. The stimulus bill Congress passed in February includes an $8,000 credit for first-time home buyers. According to bankrate.com, average interest rates are beginning to dip below 5% for a 30-year, fixed-rate mortgage.
Let M1 Properties help you secure the best big ticket item to buy before the economy recovers further.
Sunday, March 29, 2009
Valley sees 70% jump in home sales
Desert Sun staff and wire reports • March 26, 2009
Area posts third consecutive year-over-year increase; median price at $156,000
“This can be attributed to the under-$500,000 portion of the market, which has experienced larger price declines than the other market segments due to the large share of distressed homes for sale,” she said. “This further contributed to the decline in the statewide median.” The median number of days it took to sell a single-family home statewide declined to 51.5 days in February, compared to 69.3 days during the same month last year, according to CAR. February's results provided some hope that new home sales have finally hit bottom and the worst may be past. Prices, however, are likely to remain weak for months as builders continue to clear out their stock of unsold homes. “We are prepared to hazard the view that the post-Lehman meltdown is now over and the market is stabilizing,” wrote Ian Shepherdson, chief U.S. economist at High Frequency Economics, referring to last fall's collapse of investment bank Lehman Brothers and the subsequent Wall Street plunge. “That's not the same as a recovery, but it is better than continued declines in sales.”
Area posts third consecutive year-over-year increase; median price at $156,000
“This can be attributed to the under-$500,000 portion of the market, which has experienced larger price declines than the other market segments due to the large share of distressed homes for sale,” she said. “This further contributed to the decline in the statewide median.” The median number of days it took to sell a single-family home statewide declined to 51.5 days in February, compared to 69.3 days during the same month last year, according to CAR. February's results provided some hope that new home sales have finally hit bottom and the worst may be past. Prices, however, are likely to remain weak for months as builders continue to clear out their stock of unsold homes. “We are prepared to hazard the view that the post-Lehman meltdown is now over and the market is stabilizing,” wrote Ian Shepherdson, chief U.S. economist at High Frequency Economics, referring to last fall's collapse of investment bank Lehman Brothers and the subsequent Wall Street plunge. “That's not the same as a recovery, but it is better than continued declines in sales.”
Sunday, March 15, 2009
Sales of property priced under $500,000 double in the Coachella Valley
by Debra GruszeckiThe Desert Sun
Sales of entry-level homes dominated the Coachella Valley real estate scene during the fourth quarter of 2008, while big-ticket properties turned in a disappointing performance, new data shows. “It's almost like the original tale of two markets,” said Patrick Veling, president and founder of Brea-based Real Data Strategies, which provides and analyzes real estate data for The Desert Sun.
“Except, it's flipped: Entry-level home sales are robust” with a 58 percent gain over 2007. “High-priced real estate sales took it on the chin.” The company has tracked real estate trends across the nation for more than 16 years and provides data to The Desert Sun for a comprehensive look at the Multiple Listing Service market. It made its observations from the 1,867 sales tracked in the last three months of 2008: Sales of property priced under $500,000 doubled compared to the fourth quarter of 2007. Real estate activity mushroomed in west Desert Hot Springs, where sales prices averaged $108,247. Sales of mid-range homes dropped nearly 50 percent. Sales in the market between $750,000 and $1million fell by one-third. Homes priced above $1 million declined nearly 56 percent. “I have never seen prices tumble so dramatically in such a short time,” Veling said. “There has never been such a clear indicator that price is driving this sales phenomenon.” Greg Berkemer, executive director of the California Desert Association of Realtors in Palm Desert, has described the market as one that can be unfairly harsh and hugely rewarding at the same time. “It depends on what line you happen to be standing in,” he said. “The line for buyers is better now than the line for sellers. Even so, the non-serious buyer or seller should get out of line to allow those that need and want to sell or buy to meet.”
Sales of entry-level homes dominated the Coachella Valley real estate scene during the fourth quarter of 2008, while big-ticket properties turned in a disappointing performance, new data shows. “It's almost like the original tale of two markets,” said Patrick Veling, president and founder of Brea-based Real Data Strategies, which provides and analyzes real estate data for The Desert Sun.
“Except, it's flipped: Entry-level home sales are robust” with a 58 percent gain over 2007. “High-priced real estate sales took it on the chin.” The company has tracked real estate trends across the nation for more than 16 years and provides data to The Desert Sun for a comprehensive look at the Multiple Listing Service market. It made its observations from the 1,867 sales tracked in the last three months of 2008: Sales of property priced under $500,000 doubled compared to the fourth quarter of 2007. Real estate activity mushroomed in west Desert Hot Springs, where sales prices averaged $108,247. Sales of mid-range homes dropped nearly 50 percent. Sales in the market between $750,000 and $1million fell by one-third. Homes priced above $1 million declined nearly 56 percent. “I have never seen prices tumble so dramatically in such a short time,” Veling said. “There has never been such a clear indicator that price is driving this sales phenomenon.” Greg Berkemer, executive director of the California Desert Association of Realtors in Palm Desert, has described the market as one that can be unfairly harsh and hugely rewarding at the same time. “It depends on what line you happen to be standing in,” he said. “The line for buyers is better now than the line for sellers. Even so, the non-serious buyer or seller should get out of line to allow those that need and want to sell or buy to meet.”
- Here is a great place to find these properties - http://m1properties.com/search/featured/indio
- Or alternatively you can check out our website - http://m1properties.com/
Saturday, January 31, 2009
Beautiful Terra Lago Indio,CA - Now Bank Owned
We have been selling homes in Terra Lago to investors at $75 to $85 per sq ft. The community is Golf Club at Terra Lago. These homes were built in 2005 and 2006 by Lennar, Ryland, Woodside, and Ashbrooke. They originally sold for $500,000.00+ but many have been foreclosed by the banks and are now in the $175,000 to $250,000 price range. The best deals per sq/ft for newer builds in a golf community in the desert. The dues in this community are $250/month and include clubhouse, pool, gym, cable, high speed internet access. We can manage the property for you including all aspects of renting and managing. We suggest renting on an annual basis for $1,450 to $1850/month or setting the property up as a weekly/monthly vacation rental. Some of our clients own multiple properties. Click $80 sq/ft - homes for the current homes we are going to sell. We encourage you to bid very close to asking price as the banks have comparables and have priced their listing very competitively. This is the best time to invest in Southern California, and M1 Properties is the company that can handle your business. Please let us know if you want to bid or view these or other homes. http://www.m1properties.com/
Sunday, September 28, 2008
The Desert, Homes, Credit, Government Assistance
It's hard to believe that our credit markets are stuck. So clogged in fact that the government is taking incredible steps to buy troubled assets so that banks can begin lending again. We have been selling the choice properties through the summer and this latest period of stress. We believe it's an amazing time to be a buyer. Soon enough the buyers will begin competing again (prices have corrected far enough) and the governments bail out plan will create a competitive lending environment again. We are experts in the local market and understand the current credit stress. Call us at 760-864-1410 so that we can help you find your dream home, or just answer any questions about real estate or our beautiful desert.
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