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  • Cathi & Ben Walter
  • Sales & Marketing Specialist, Realtor
  • 44530 San Pablo, Suite 101
  • Palm Desert, CA 92260
  • P: (760) 218 – 5752
  • F:
  • E: Cathi@DesertAreaHomeFinder.com
  • DRE# 01346930
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A Message From Cathi & Ben...

We hear similar stories repeated in different ways from our clients; At first, they look forward to stolen weekend's to golf & relax in the desert - they gradually discover they're crafting ways to spend more time here until it becomes clear, life just doesn't get any better than this."

Once that realization hit's, the process of change begins... We know what an extraordinary commodity your home is - buying or selling a home can be one of the most important decisions you will make and having the right team on your side will make the difference.

We specialize in homes throughout the Palm Springs Valley including Palm Desert Real Estate & Homes, Indian Wells Real Estate & Homes, La Quinta Real Estate & Homes, Rancho Mirage Real Estate & Homes, Palm Springs Real Estate & Homes& Indio Hills Real Estate & Homes. Whether you want to buy or sell an estate, lock & leave property with income potential, a resort property, land to build your dream home, or a property located in a country club or golf community we know the desert and are here to help. Our motto, If its important to you, it's important to us, guides us as we help our clients buy or sell a home in the desert.

Thank you for visiting DesertAreaHomeFinder.com, we hope you find our site helpful and we look forward to speaking with you it's easy, just click on the picture of a cell phone in the upper right corner of this web site and it will ring our cell phone directly.

Personal Messages

The Real Estate Corner Desert Market Update

The Real Estate Corner Desert Market Update

NUMBER OF SALES
September_2018_Home_Sales_by_City

Home sales are up Valley-wide.  The total three-month sales are up 2.9%.  On a city by city basis, six cities show higher sales, with three; Palm Desert, Desert Hot Springs and Palm Springs showing the largest increase in sales.

The three cities with the largest sales declines are Indio, Indian Wells and Cathedral City.

INVENTORY OF HOMES FOR SALE

September_Inventory

While home sales are up, inventories are down.  Typically our inventories dip to to their lowest point every year toward the end of September, but this year inventories are even lower.

Low inventory acts as both a positive and negative; it’s positive for sellers and future home sellers as it tends to move home prices higher.  But, it’s also a negative in that low inventory puts the brakes on the number of sales. If interest rates continue to increase, that can put a damper on sales as the cost of borrowing money for a mortgage becomes more expensive.

MONTHS SUPPLY OF HOMES FOR SALE BY CITY

Months_of_Supply

The month’s of supply ratio is down valley-wide compared to one year ago in every city.  Most have less than 4 month supply except two; La Quinta which currently has a 4.5 month supply and Indian Wells with a 6 month supply of homes to sell.

MONTHS SUPPLY OF HOMES FOR SALE BY PRICE BRACKETS
When we look at the supply of homes by price category, we see the supply is lower across all price brackets compared to one year ago.  The biggest change is homes priced above $800,000.  Last year the higher price points were taking 7.5 months – 1 year to sell.  Now, it’s taking on average 5.3 – 8 months

Months_Supply_by_Price_Range

The tipping point when using this metric is 6 month’s.  6 months is considered a “Balanced Market”, not particularly favoring either Home Buyers or Home Sellers.  Less than 6 months, the market is tipped in the Sellers favor, otherwise known as a “Sellers Market”.  More than 6 month supply is viewed as a “Buyers Market”.

As home prices or the cost of buying a home, (rising interest rates), increase – sales will start to slow putting downward pressure on pricing.  Markets are always in a state of flux, moving from one market to another and rarely stopping at “balanced” for long.

While there is typically a lag period between market shifts, the lag time is shorter as the number of sales are increasing.  Home sellers quickly see an improving market and strive to maximize the price they can ask.  When prices increase too fast or too far ahead of sales, potential home buyer’s become reluctant to make offers, fearing they could be buying at the peak.

DISCOUNT FROM ASKING PRICE

Sale_price_discount_from_asking_price

In 2018, when negotiating a sale price with buyers; home sellers are discounting their listed price an average of 2%.  One year ago, sellers needed to discount an average 2.4% off their asking price to close a sale.

For example, this ratio means if a home is listed at $400,000 it’s selling at an average of 98% of their asking price, or $392,000. a discount of $8,000. This metric also shows a strong and improving real estate market here in the Desert.

When we look at the story each of these metrics are showing for the Desert Real Estate Market, we can see an improving but pretty balanced market.  In addition, we can see that the market has had and continues to show sustained growth. Making now the right time to be a participant in the market.

The Desert Lifestyle is unlike any other, as we head into our season now is a great time see what the Desert has to offer.  Check out these FAB Desert Homes!

 

Palm Desert Golf Cart Parade

Palm Desert Golf Cart Parade 2018
Sunday, October 28th from 12:00 – 3:00 p.m.

Palm Desert Golf Cart Parade

It’s time to kick off a new season in the Desert with the Palm Desert Golf Cart Parade!  This years theme is “Celebrating our Super Heroes” Our community will showcase and celebrate all of our different types of Super Hero’s including our Police Officers, Fireman, Veterans, Teachers, Parents, the list is endless.  Come be a part of the pageantry and fun as scores of whimsically decorated golf carts and bands march down El Paseo.

Palm Desert is a progressive city with an eye on the future – this picturesque desert community has a Dynamic Big City Vibe; with Exclusive Country Clubs, Fine Dining, Art Galleries, Live Theater, World Class Championship Golf and home to the valleys only zoo, The Living Desert, which combines an indigenous zoo with an authentic arboretum.  Be a part of what makes Palm Desert the place to be, check out these FAB homes for sale in Palm Desert!

Summer Desert Market Report

Desert Summer Market Report

Summer Desert Market Report  – Mediam home prices rose for the 8th straight month. Up 9.6% from last year. The hottest cities for sales by volume were Palm Desert (233), Palm Springs (213), La Quinta (156), Indio (131), Rancho Mirage (97). Each city and each community has its own story some communities have seen huge growth, while others are relatively flat. The cities that had the largest price increases, have seen the number of sales flatten, which tells us that prices were getting ahead of the market.

Inventories are down again putting upward pressure on pricing. Overall the desert has seen a decline in the time it’s taking to sell, nicely presented homes in a good location and priced well are selling quickly. Currently there is a 3 month supply of homes for sale in the desert, which puts us in a “Sellers Market” as we head into season.

The Fed has indicated there will likely be two more interest rate increases before the end of the year, which could start to weigh on the market and slow sales until the shock is absorbed.

Southern California and specifically, the Coachella Valley continues to be a sought after destination for a second home get a way.

As we head into our “Season”, we expect to see continued strong home sales and price appreciation valley-wide.

How’s your neighborhood doing?  Send me an email, I’ve got the details!

1031 Exchange for Real Estate Investors

What is a 1031 Exchange and can it work for you?
Thanks to IRC Section 1031, a properly structured 1031 exchange allows an investor to sell a property, to reinvest the proceeds in a new property, and to defer capital gain taxes.

1031 EXCHANGE FOR REAL ESTATE INVESTORS – THE BENEFITS  
Whether an investor’s property is owned free and clear or encumbered, the benefits of a tax deferred exchange can be significant. The tax dollars saved by doing an exchange can be used to buy additional investment property.

An investor who exchanges is able to defer the capital gain tax and buy a replacement property worth more than the investor who simply sells and reinvests with after tax dollars.

1031 Exchange for real estate investors provides one of the best tax strategies for preserving the value of an investment portfolio.  By using an exchange, the investor is able to defer the recognition of capital gain taxes that would otherwise be due with the sale of an investment property.  To qualify as an exchange the relinquished and replacement properties must be qualified “like-kind” properties and the transaction must be structured as an exchange. 

1031 EXCHANGE FOR REAL ESTATE INVESTORS – NON TAX BENEFITS  
In addition to deferring the capital gain tax, tax deferred exchanges provide the investor with a wide range of non-tax opportunities that may suit an investor’s portfolio

  • Reposition assets
  • Change property types
  • Increase leverage
  • Increase depreciation deduction
  • Reduce management obligations
  • Provide for estate and retirement planning
  • Allow for relocation
  • Improve cash flow
  • Achieve property consolidation or diversification
  • Eliminate or create joint ownership

THE EXCHANGE PROCESS
Most exchanges, involve three parties: the investor, (exchanger), who is doing the exchange, the buyer who is buying the exchanger’s old (relinquished) property, and the seller who is selling the exchanger a new (replacement) property.  To create the exchange of assets and to obtain the benefit of the “Safe Harbor” protections of the tax code, it is wise to employ an Exchange Accomodator, or Exchange Facilitator.  This qualified intermediary becomes a fourth party principal in both simultaneous and delayed exchanges.

1031 Exchange for Real Estate Investors

1031 Exchange for Real Estate Investors

The steps for completing an exchange are relatively simple with qualified intermediary:

  • The exchanger signs a contract to sell a relinquished property to the buyer.
  • Exchanger enters into an exchange agreement with a Qualified Intermediary and assigns rights in the sale contract to the intermediary, including the right to receive the exchange funds.
  • At the closing of the relinquished property, the exchange funds are wired to the intermediary and the intermediary instructs the settlement officer to transfer the deed directly from the exchanger to the buyer.
  • The exchanger has a maximum of 180 days in the exchange period to acquire all replacement property.
  • Unless the exchanger can acquire all replacement property within the first 45 days from the close of the relinquished property, the exchanger must identify possible replacement properties in writing to the intermediary within the 45 day identification period.
  • The exchanger signs a contract to buy the replacement property with the seller and the exchanger assigns the exchanger’s rights in the purchase contract to the intermediary.
  • At the closing of the replacement property, the intermediary wires the exchange funds to complete the exchange and the intermediary instructs the settlement officer to transfer the deed directly from the seller to the exchanger.

EXCHANGE REQUIREMENTS
As a general rule of thumb, to avoid paying capital gain taxes in an exchange, the investor should always attempt to:

  1. Buy a property of equal or greater value, (net sales price).
  2. Reinvest all of the net equity in replacement property
  3. Obtain equal or greater debt on replacement property.
    *Exceptions: A reduction in debt can be offset with additional cash from exchanger, but increasing debt cannot offset a reduction in exchange equity.

Do you own an investment property and thinking about selling it to buy another that might have more cash flow or less management headaches?  We can help.  Give me a call or send me an email, let’s talk about what’s possible for your situation.
Cathi and Ben Walter
Cathi@DesertAreaHomeFinder.com
(760) 218 – 5752

 

How much income you need to buy the average home in each state

Ever wonder how much income you need to buy an average home in other areas of the country?

@HowMuch.net just published a map showing How much income you need to buy the average home in each state in the U.S.

They collected average home prices for every state from Zillow and then plugged that information into a mortgage calculator to figure out monthly payments. The interest rates used varied from 4 to 5% depending on the market, a 10% down payment, and total cost of housing not exceeding more than 30% of gross income. Using this rule as the benchmark, they calculated the minimum salary required to afford the average home in each state.

The Top Three Places Where You Need the Highest Salaries to Afford the Average Home 1. Hawaii: $153,520 for a house worth $610,000 2. Washington, DC: $138,440 for a house worth $549,000 3. California: $120,120 for a house worth $499,900 Here’s a quick snapshot of housing affordability across the United States.

Home much income do you need to buy the average home in each state; Check it out!Home much income do you need to buy the average home in each state

Home Design Trends for 2018

Home Design Trends for 2018 – Each year Fixr conducts a national survey of home industry influencers in the US; those who are building, designing, manufacturing and publishing content relevant to the field, revealing single family home design and construction trends.

Gen X’ers are the most likely group to buy a single family home with Millennials representing the second largest group in the 2018 Fixr Survey. There are many reports that show Millennials are driving the current market.

Single Story Homes are Trending for 2018

 

In 2018 more home buyers are looking for single story homes with more than 2,000 sq ft with an open floor plan and they want to live in urban areas.

 

Smart home features and automation are gaining traction at an incredible rate and is the number one choice for popular home design trends going forward.

Smart HomesGreen and Energy Efficient Design is important to both Gen X and Millennials, but more so for the Millennials with Smart Thermostats, Home Automation Security, Lighting Control Systems, Smart Appliances.

Artificial intelligence and voice control systems will start showing up in homes in 2018.

 

Open Floor Plan

 

The open floor plan has been the most popular layout since 2013 and will continue to grow going forward.

 

 

 

For current homeowners, when it comes to affordable upgrades, energy efficient upgrades and style enhancements were popular.

Dimmable Lighting Sets the MoodDimmable lighting allows the homeowner to influence the mood of a room at all times of the day and night. Wireless hubs and concealed components are considered to be integral in nearly every home. 

Adding energy efficient windows were another popular trend for homeowners.

Outdoor Living

 

Adding outdoor living spaces will be a popular addition in 2018 with more Millennials looking for indoor / outdoor living.

 

 

 

 

Home Buyers are beginning to expect both function and aesthetics, while function is the primary goal, aesthetics go a long way toward providing comfort and personal expression.

There is a delicate balancing act for home builders between homes that are aesthetically pleasing to the eye vs energy efficient homes that may feel cold or impersonal.

Most designers agree that form should always follow function and the most successful home design blends the two attributes creating a cohesive design, enhancing the homeowners experience in the space.

Get more information about what today’s home buyers are looking for before you put your home on the market.  Give me a ring, I’m happy to share my knowledge and experience to help elevate your home above the competition (760) 218 – 5752.

 

What the Dodd- Frank Rollback Means for Real Estate

What the Dodd-Frank Rollback Means for Real Estate

Rollback On May 22nd, Congress passed reforms to the Dodd-Frank Act, the massive financial reform bill enacted in July  of 2010 in the wake of the 2008 US financial crisis.

The current bill could have a big impact on the real estate and mortgage lending. Economists believe the rollback of the Dodd-Frank regulations could lend a hand toward partially solving the industry’s inventory crisis.

“This is a win for the financial industry,” said  Chief Economist Nela Richardson, who worked on the bill as an economist for the Commodity Futures Trading Commission. “These are community banks, credit unions, a lot of them are in rural areas. They do a lot of mortgage lending. This will help consumers in that the banks will be able to free up some credit.”

National Association of Realtors Chief Economist Lawrence Yun echoed Richardson, adding that a loosening of Dodd-Frank rules may lead to a rise in regional construction.

“The regulations placed on small-size community banks were terrible because it hindered small-sized homebuilders from obtaining construction loans,” he said. “As the homebuilding industry has become more dominated by large corporations, now we have this relief, which means that, small-time homebuilders will have better access to capital to build homes.”

Economists seem to agree, that the economy is not on track to repeat the financial crisis of 2008, since big banks were at the center of the collapse a decade ago. Richardson explained that the only way to eliminate all risk is to make everything as onerous as possible.

The legislation will also require Fannie Mae and Freddie Mac to consider the use of alternative credit scoring models, which could help borrowers with thin credit files receive a mortgage. But Gardner said he’s concerned, ultimately, we need to remain aware of looser credit restrictions so the country does not repeat the acts of the last financial crisis, where homeowners were given loans they could not pay back.

 

Concerts in the Park Palm Desert

Enjoy Cool Summer Evenings in Palm Desert – Music in the Park We’re kicking off the Summer Season in the Desert with Live Concerts on the Terraced Lawn at Palm Desert Civic Center Park.

 

Every Thursday throughout the month of May

Music Lovers can look forward to a sampling of musical genres that range from Reggae, R & B, Jazz, Country to Indie.

Grab your friends, a blanket and have a picnic while you sit back, relax and enjoy live music under the stars.   Food trucks are also on standby with a wide variety of culinary creations.

May 3, 2018  Ambrosia 
Ambrosia
Ken Stacy – Acoustic Guitar / Vocals
Joe Puerta – Bass / Vocals
Mary Harris – Keyboard / Vocals
Christopher North – B3/ Keys / Vocals
Burleigh Drummond – Drums / Vocals
Doug Jackson – Suitars / Vocals

May 10, 2018 The PettyBreakers  – Tom Petty Tribute Band
The PettyBreakers
Steve Newby
David Zeman
Ozzie Mancinelli
John McAllister
Danny Leoni

May 17, 2018 Dead Winter Carpenters – Americana / Roots / Bluegrass
Dead Winter Carpenters

Jesse Dunn – Acoustic and Electric Guitars / Vocals
Jenni Charles – Fiddle / Vocals
Dave Lockhart – upright and Electric Bass / Vocals
Nick Swimley  – Lead Telecaster Guitar / Vocals
Brendan Smith – Drums / Vocals

May 24, 2018 The Blue Breeze Band – Motown and R & B
Blue Breeze Band
Harold Wherry – Electric and Acoustic Guitar
Laia Jones – Vocals
Bob Henley iii – Vocals
Richard Moorings – Keyboards, Trombone, Vocals
Darryl Bomar – Electric and Bass Guitar and Vocals
Tim Anderson – Tenor Sax and Vocals
Tyrone Griffin – Trumpet, Flugelhorn and Vocals

May 31, 2018 All Our Exes Live in Texas – Indie / Folk Harmonies
All our Exes Live in Texas

Hannah Crofts – vocal and Ukulele
Georgia Mooney – Vocal and Mandolin
Elana Stone – Vocal and Accordion
Katie Wighton – Vocal and Guitar

Palm Desert is known as the Cultural and Retail Center of the Desert Communities. Insiders know Palm Desert as the “Heart of the Coachella Valley” a small city feel with a big city vibe.  Check out this exceptional home in Palm Desert!  Call Me Today for a
Showing (760) 218 5752

Palm Desert Concerts in the Park

 

Concerts in the Park

Palm Desert’s Civic Center Park Amphitheater is once again the hot spot for live music in May! Residents and visitors alike flock to the Palm Desert Civic Center Park every Thursday evening in May for the City’s free Concerts in the Park.

Held on the terraced lawn of the Civic Center Park Amphitheater, music lovers can look forward to diverse musical offerings from reggae to R&B, country to indie and more. Concertgoers are encouraged to bring picnic baskets, blankets, and lawn chairs.

The season will kick off in a big way on May 3 with a performance by Ambrosia, the Grammy nominated band known for its hit singles “How Much I Feel,” “Biggest Part of Me,” and “You’re the Only Woman (You & I).”

The full schedule promises to continue to delight fans throughout the rest of the month:

The Family YMCA of the Desert will conduct children activities prior to each concert and food trucks will be onsite with tasty food options, beverages and snacks for purchase.

El Paseo Fashion Week 2018 in Palm Desert

El Paseo Fashion Week

El Paseo Fashion Week 2018 hits the catwalk March 17-26 to showcase the latest fashions from some of the biggest designer brands in the world, featuring star-studded runway shows, exclusive trunk shows, and more. Now in its 13th year, this highly-regarded event consistently draws tens-of-thousands of people and accounts for an economic boost for charity each year!

This premier fashion event offers a platform for both renowned and emerging designers to showcase their work and connect with an audience through one of the most individualistic and expressive art forms: style. After all, we are what we wear.

El Paseo Fashion Week

El Paseo Fashion Week attracts audiences from all walks of life. Here, the local business man or woman, the stay at home, the jet-setter, and even the fashion-savvy college student can explore the world of fashion in one place. The cocktail receptions, trunk shows, meet and greets, and more are meant to further inspire and transform participants while also highlighting the sophistication and luxury of the desert.

The Gardens on El Paseo

West side upper level parking deck

73-545 El Paseo, Palm Desert, CA 92260

(Note: The Gardens on El Paseo is located on El Paseo, between Larkspur and Lupine)

Get In Touch

  • Cathi & Ben Walter
  • REALTOR ®
  • 44530 San Pablo, Suite 101
  • Palm Desert, CA 92260
  • P: (760) 218 – 5752
  • E: Cathi@DesertAreaHomeFinder.com
  • CalBRE# 01346930

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