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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

Taxable vs Tax Deferred 1031 Exchange

1031 Delayed ExchangeInvestment Properties
1031 Exchange is a strategy used by real estate investors to defer capital gains taxes, and is allowed under IRS tax code 1031.

By using a 1031 exchange, an investor can defer paying capital gains taxes on an investment property when it is sold, as long as another “like-kind” property is purchased with the profit gained by the sale of the first property.

 

Traditionally, a 1031 exchange is
where1031 Exchange House Swap one property is literally
swapped for another property of like-kind. But finding someone that literally want’s your property and you want their property are pretty slim, so the delayed exchange is more common.

 

In a delayed exchange, you will need a middle-man who holds the cash for you after you sell your property.  they will use that money to buy the replacement property for you. This 3 party exchange is treated as a swap.

When you sell an investment property, even if you weren’t the one who initially purchased, you end up on the hook to pay capital gains tax.

If you’ve made some not so great investments, selling your investment can cost you more than you make.  But, if you own a rental property that’s worth significantly more today than what you purchased it for, you can make a come out ahead using this powerful strategy.  It’s an important tool for real estate investors, and has become a bulls-eye for tax reform evangelists.

However, the exchange rules require that both the purchase price and the new loan amount be the same or higher on the replacement property.

Example: An investor is selling a $500,000 single family home she’s using as an income property in the LA Area with a $400,000 loan. She wants to buy a multi-family home for income here in the Desert; the replacement property must be valued at  $500,000 or more with $400,000 or more leverage, (loan amount).

4 types of Real Estate Exchanges:

1031-Exchange-Simultaneous Swap1) Simultaneous Exchange – occurs when the replacement property and relinquished property close on the same day.  It is important to note that the exchange must occur simultaneously; any delay, even a short delay caused by wiring money to an escrow company, can result in the disqualification of the exchange and the immediate application of full taxes.

 

Three basic ways a Simultaneous Exchange can occur.

  • Swap or complete a two-party trade, whereby the two parties exchange or “swap” deeds.
  • Three-party exchange where an “accommodating party” is used to facilitate the transaction in a simultaneous fashion for the exchanger.
  • Simultaneous exchange with a qualified intermediary who structures the entire exchange.

 

2)Delayed Exchange – 1031 Delayed ExchangeThe most common type of exchange chosen by investors;  occurs when the Exchangor relinquishes the original property before acquiring the replacement property.  In this scenario, the investor has 45 days to identify the replacement property and 180 days to complete the sale of their new property.

Using this strategy, an investor has a maximum of 45 days to identify the replacement property and 180 days to complete the sale of their property. In addition to the numerous tax benefits, this extended time frame is one of the reasons the delayed exchange is so popular.

 

1031 Reverse Exchange3) Reverse Exchange – Also known as a Forward Exchange, occurs when you acquire a replacement property through an exchange accommodation titleholder before you identify the replacement property. Essentially, you buy first and pay later.  This type of exchange can be tricky because it requires all cash. Many banks won’t offer loans on reverse exchanges.  Taxpayers must also decide which of their investment properties are going to be acquired and which will be “parked.” A failure to close on the relinquished property during the established 180 day period that the acquired property is parked will result in a forfeit of the exchange.

The rules for a Reverse Exchange are similar with a couple of key differences.

  • Tax payers have 45 days to ID what property is going to be sold as “The relinquished property”
  • After the initial 45 days, taxpayers have 135 day to complete the sale of the identified property and close out the reverse 1031 exchange with the purchase of the replacement property.

 

1031-Under-Construction

 

4) Construction or Improvement Exchange
The taxpayer can use their tax-deferred dollars to enhance the replacement property while it is placed in the hands of a qualified intermediary for the remainder of the 180 day period.

It’s important to note that the taxpayer must also meet three requirements if they want to defer all of the gain (from the sale of the relinquished property) and instead use it as part of the construction or improvement exchange.

3 key requirements for a Construction or Improvement Exchange

  1. The entire exchange equity must be spent on completed improvements or as down payment by the 180th day.
  2. The taxpayer must receive “substantially the same property” that they identified by the 45th day.
  3. The replacement property must be equal or greater in value when it is deeded back to the taxpayer. The improvements must be in place before the taxpayer can take the title back from the qualified intermediary.

7 Primary 1031 Exchange Rules.
1) Like-kind Property
2) Investment or Business purposes only
3) Greater of equal value
4) Must not receive “Boot”
5) Same Tax Payer
6) 45 Day Identification  window
7) 180 Day Purchase Window

Check out this FAB Home in South Palm Desert for Great Rental Income

1031 exchange identify the houseWe hope your main take-away is; you too can end up with passive income from real estate.  But, it’s not easy for even the most seasoned real estate investor. Having the right team working for you will be important to set the stage properly.  We have a team of professionals that can help.  For more info, give us a call today – we’re happy to help.

2019 Coachella Valley Golf Course Over Seeding Schedule

2019 Coachella Valley Golf Course Over Seeding Schedule

Coachella Valley Over Seeding ScheduleYIKES!  Are you waiting for the grass to grow while all the Coachella Valley Golf Courses close for Over Seeding?

 

 

 

 

Not to worry, we have the 2019 Coachella Valley Golf Course Over- Seeding Schedule here!

If you’re unfamiliar with the Phenomenon of our Desert Golf Course Over Seeding, here are the basics of what you will see happening on our local courses over the next couple of months.

2019 Coachella Valley Golf Course Over Seeding Schedule

Coachella Valley Golf Course Over Seeding Schedule for 2019

Currently, our local golf courses have warm-weather Bermuda grass on the fairways and tees and almost every course in the desert has some Bermuda on their greens.

Bermuda grass goes dormant and turns brown during the cooler winter months. So to keep the courses green and playable, they cut the Bermuda grass so short it’s mostly dirt, then spread tons of winter rye grass seed, add lots of water, and wait for it to grow. Golf Course Superintendents would prefer 4+ weeks of growth before turning out golfers. But the pressure to re-open as soon as possible during peak season, most courses will open with “cart path only” rules, within 3 weeks trying to limit the wear and tear on the new growth.   During the over seeding process and while waiting for the winter rye to take hold well enough to stand up to play, the courses will close during the grow-in period.

 

2019 Coachella Valley Golf Course Over Seeding ScheduleNo need to miss a day of great golf, here is the 2019 Coachella Valley Golf Course Over Seeding Schedule for most of the Golf Courses in Valley.

 

 

2019 Coachella Valley Golf Course Over Seeding Schedule –
PALM DESERT
See All Palm Desert Golf Course Properties HERE

Avondale Golf Club Over Seeding ScheduleAvondale Golf Club
Closes 10/1/19
Re-Opens for Golf 11/9/19

 

 

 

BIGHORN Golf Club Over Seeding ScheduleBIGHORN Golf Club
Mountains Course
Closes 10/7/19
Re-Opens for Golf 11/2/19

 

BIGHORN Golf Club – Canyons Course
Closes 10/7/19
Re-Opens for Golf 11/2/19

 

Chaparral Country Club Over Seeding ScheduleChaparral Country Club
Closes 9/22/19
Re-Opens for Golf 11/2/19

 

 

 

Classic Club Golf Golf Club Over Seeding ScheduleClassic Club
Closes 1/14/19
Re-Opens for Golf 11/16/19

 

 

 

Desert Falls Coutry Club Over Seeding ScheduleDesert Falls Country Club
Closes 10/7/19
Re-Opens for Golf 11/6/19

 

 

Desert Willow Golf Resort Over Seeding ScheduleDesert Willow Golf Resort
Firecliff
Closes 9/23/19
Re-Opens for Golf 10/25/19

 


Desert Willow Golf Resort – Mountain View

Closes 11/11/19
Re-Opens for Golf 12/26/19

 

Indian Ridge Country Club Over Seeding ScheduleIndian Ridge Country Club
Arroyo Course
Closes 9/23/19
Re-Opens for Golf  11/7/19

 

 


Indian Ridge Country Club – Grove Course

Closes 9/30/19
Re-Opens for Golf 11/7/19

 

Ironwood Country Club Over Seeding ScheduleIronwood Country Club
North Course
Closes 10/13/19
Re-Opens for Golf  11/15/19

 

 


Ironwood Country Club – South Course

Closes 10/2/19
Re-Opens for Golf  11/4/19

 

The Lakes Country Club Over Seeding ScheduleThe Lakes Country Club
All Courses: East, South, North
Close 10/6/19
Re-Opens for Golf 11/14/19

 

 

 

Marrakesh Country Club Over Seeding ScheduleMarrakesh Country Club
Closes 9/28/19
Re-Opens for Golf 11/8/19

 

 

 

Monterey Country Club Over Seeding ScheduleMonterey Country Club Over Seeding ScheduleMonterey Country Club
South Course
Closes 10/7/19
Re-Opens for Golf 11/11/19
West Course
Closes 10/14/19
Re-Opens for Golf 11/18/19

Monterey Country Club – East Course

Closes 9/30/19
Re-Opens for Golf 10/28/19

 

Oasis Country Club Over Seeding ScheduleOasis Country Club
Closes 9/23/19
Re-Opens for Golf 11/2/19

 

 

 

 

Palm Desert Country Club Over Seeding SchedulePalm Desert Country Club
Closes 9/22/19
Re-Opens for Golf 10/18/19

 

 

 

 

Palm Desert Greens Over Seeding SchedulePalm Desert Greens
Closes 10/7/19
Re-Opens for Golf 11/11/19

 

 

 

 

Palm Desert Resort Over Seeding SchedulePalm Desert Resort
Closes 9/15/19
Re-Opens for Golf 10/25/19

 

 

 

Palm Valley Country Club Over Seeding SchedulePalm Valley Country Club
Challenge Course
Closes 10/23/19
Re-Opens for Golf 11/20/19

 

 

 

Palm Valley Country Club – Championship Course
Closes 10/14/19
Re-Opens for Golf 11/16/19

 

Shadow Mountain Golf Resort Over Seeding ScheduleShadow Mountain Golf Resort
Closes 9/23/19
Re-Opens for Golf 11/23/19

 

 

 

 

Shadow Ridge Golf Resort Over Seeding ScheduleShadow Ridge Golf Resort
Closes 9/30/19
Re-Opens for Golf 10/26/19

 

 

 

Stone Eagle Golf Club Over Seeding ScheduleStone Eagle Golf Club
Closes 9/30/19
Re-Opens for Golf 11/8/19

 

 

 

Sun City Mountain Vista Golf Club Over Seeding ScheduleSun City Mountain Vista Golf Club
San Gorgonio
Closes 10/28/19
Re-Opens for Golf 11/25/19

 

 

Sun City Mountain Vista Golf Club – Santa Rosa
Closes 9/23/19
Re-Opens for Golf 10/28/19

 

Woodhaven Country Club Over Seeding ScheduleWoodhaven Country Club
Closes 10/6/19
Re-Opens for Golf 11/9/19

 

 

_________________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –
INDIAN WELLS

See All Indian Wells Golf Course Properties For Sale HERE

Desert Horizons Country Club Over Seeding ScheduleDesert Horizons Country Club
Closes 9/23/19
Re-Opens for Golf 11/9/19

 

 

 

Eldorado Country Club Over Seeding ScheduleEldorado Country Club
Closed for Summer
Re-Opens for Golf 11/1/19

 

 

 

Indian Wells Country Club Over Seeding ScheduleIndian Wells Country Club
Classic Course
Closes 10/7/19
Re-Opens for Golf  11/8/19

 

 

Indian Wells Country Club – Cove Course
Closes 9/23/19
R-Opens for Golf  10/26/19

 

The Reserve Club Over Seeding ScheduleThe Reserve
Closes 9/18/19
Re-Opens for Golf 11/8/19

 

 

 

Toscana Country Club Over Seeding ScheduleToscana Country Club
South Course
Closes 9/30/19
Re-Opens for Golf  11/9/19

 

 

Toscana Country Club – North Course
Closes 9/30/19
Re-Opens for Golf  11/9/19

 

Vintage Club Over Seeding ScheduleVintage Club
Closes 9/16/19
Re-Opens for Golf  11/8/19

 

 

 

Indian Wells Golf Resort Over Seeding ScheduleIndian Wells Golf Resort
Players Course
Closes 9/23/19
Re-Opens for Golf 10/12/19

 

 

 


Indian Wells Golf Resort – Celebrity Course

Closes 10/14/19
Re-Opens for Golf 11/1/19

_______________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –
LA QUINTA

See ALL La Quinta Golf Course Properties For Sale HERE

Andalusia Golf Club at Coral Moutain Over Seeding ScheduleAndalusia Golf Club at Coral Mountain
Closes 9/30/19
Re-Opens for Golf 11/8/19

 

 

 

Citrus Club Over Seeding ScheduleCitrus Club
Closes 9/30/19
Re-Opens for Golf 10/31/19

 

 

 

 

Golf Club at La Quinta Over Seeding ScheduleGolf Club at La Quinta
Closes 9/23/19
Re-Opens for Golf 11/4/19

 

 

 

Hideaway Golf Club Over Seeding ScheduleHideaway Golf Club at La Quinta
Pete Dye Course
Closes 9/23/19
Re-Opens for Golf  11/9/19

 


Hideaway Golf Club at La Quinta – Clive Clark Course

Closes  9/30/19
Re-Opens for Golf  11/16/19

 

La Quinta Country Club Over Seeding ScheduleLa Quinta Country Club
Closes 10/1/19
Re-Opens for Golf  11/8/19

 

 

 

La Quinta Resort and Club Over Seeding ScheduleLa Quinta Resort and Club
Dunes Course
Closes 9/23/19
Re-Opens for Golf  10/17/19

Mountain Course
Closes 10/22/19
Re-Opens for Golf  11/15/19

 

 

Mountain View Country Club Over Seeding ScheduleMountain View Country Club
Closes  9/30/19
Re-Opens for Golf 11/6/19

 

 

 

 

The Palms Golf Club Over Seeding ScheduleThe Palms Golf Club
Closes 9/16/19
Re-Opens for Golf 11/14/19

 

 

 

PGA West Resort Over Seeding SchedulePGA West Resort Courses – Public
Nicklaus Tournament Course
Closes 9/30/19
Re-Opens for Golf 10/25/19

Greg Norman Course
Closes 10/28/19
Re-Opens for Golf 11/22/19

PGA West Resort – TPC Stadium Course
Closes 10/7/19
Re-Opens for Golf  11/1/19

 

Club at PGA West Palmer Over Seeding ScheduleThe Club at PGA West – Private
Nicklaus Private Course
Closes 9/23/19
Re-Opens for Golf  10/25/19

Palmer Course
Closes 10/18/19
Re-Opens for Golf  11/19/19

 

 

The Club at PGA West – Private – Weiskopf Course
Closes  9/16/19
Re-Opens for Golf  10/18/19

 

Madison Club Golf Course Over Seeding ScheduleThe Madison Club
Closed for Summer
Re-Opens for Golf 11/13/19

 

 

 

The Quarry at La Quinta Golf Course Over Seeding ScheduleThe Quarry at La Quinta
Closes  9/30/19
Re-Opens for Golf  11/8/19

 

 

 

 

Rancho La Quinta Country Club Golf Course Over Seeding ScheduleRancho La Quinta Country Club
Jones Course
Closes 10/7/19
Re-Opens for Golf  11/9/19


Rancho La Quinta Country Club – Pate Course

Closes 9/30/19
Re-Opens for Golf  11/9/19

Silver Rock Resort Golf Course Over Seeding ScheduleSilver Rock Resort
Closes 10/7/19
Re-Opens for Golf  11/5/19

 

 

 

Tradition Golf Club Golf Course Over Seeding ScheduleTradition Golf Club
Closes 9/28/19
Re-Opens for Golf  11/16/19

 

 

_______________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –
PALM SPRINGS

See All Palm Springs Golf Course Properties HERE

Escena Golf Club Overseeding Schedule 2019Escena Golf Club Palm Springs
Closes for Over Seeding  – 9/30/19
Re Opens for Golf – 11/1/19

 

 

 

 

 

Mesquite Golf and Country Club Over Seeding Schedule

Mesquite Golf and Country Club
Information not available

 

 

 

 

Seven Lakes CC Over seeding Schedule

Seven Lakes Country Club
Closes for Over Seeding 9/11/19
Re-Opens for Golf 10/31/19

 

 

Tahquitz Creek Golf Resort Over Seeding Schedule

Tahquitz Creek Golf Resort
Legend Course

Closes 10/12/19
Re-Opens for Golf 11/12/19
Resort Course
Closes 9/9/19
Re-Opens 10/12/19

 

O'Donnell Golf Club Over Seeding ScheduleO’Donnell Golf Club
Closes 9/30/19
Re-Opens for Golf 11/1/19

 

_______________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –

RANCHO MIRAGE

See ALL of the Golf Course Homes for Sale in Rancho Mirage HERE

Mission Hills Country Club Golf Course Over Seeding ScheduleMission Hills Country Club –
Dinah Shore Tournament Course

Closes 10/14/19
Re-Opens for Golf  11/10/19

Mission Hills Country Club – Palmer Course
Closes  10/2/19
Re-Opens for Golf  11/4/19
Mission Hills Country Club – Pet Dye Course
Closes 10/31/19
Re-Opens for Golf  11/29/19

 

The Club at Morningside Golf Course Over Seeding ScheduleThe Club at Morningside 
Closes  9/23/19
Re-Opens for Golf  11/7/19

 

 

 

Omni Rancho Las Palmas Golf Course Over Seeding ScheduleOmni at Rancho Las Palmas
North Course

Closes
Re-Opens for Golf

South Course
Closes
Re-Opens for Golf

Omni at Rancho Las Palmas – West Course
Closes
Re-Opens for Golf

 

The Springs Country Club Golf Course Over Seeding ScheduleThe Springs Country Club
Closes 9/29/19
Re-Opens for Golf  11/7/19

 

 

 

Sunrise Country Club Golf Course Over Seeding ScheduleSunrise Country Club
Closes  10/1/19
Re-Opens for Golf  11/8/19

 

 

The S at Rancho Mirage Golf Course Over Seeding Schedule

The S at Rancho Mirage
Closes 9/29/19
Re-Opens for Golf  11/8/19

 

Tamarisk Country Club Golf Course Over Seeding ScheduleTamarisk Country Club
Closes 10/1/19
Re-Opens for Golf  11/1/19

 

 

Thunderbird Country Club Golf Course Over Seeding ScheduleThunderbird Country Club
Closes 9/30/19
Re-Opens for Golf 11/1/19

 

 

 

Westin Mission Hills Pete Dye Golf Course Over Seeding ScheduleWestin Mission Hills
Pete Dye Course
Closes 10/12/19
Re-Opens for Golf  10/31/19

Gary Player Course
Closes  11/1/19
Re-Opens for Golf  11/21/19

_______________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –
INDIO

See ALL of the Golf Course Homes for Sale in Indio HERE

Heritage Palms Golf Club Golf Course Over Seeding ScheduleHeritage Palms Golf Club
Closes 9/29/19
Re-Opens for Golf  11/1/19

 

 

 

Indian Palms Country Club Golf Course Over Seeding ScheduleIndian Palms Country Club – Three Nine’s 
Rotating – 18 Holes Always Open

 

 

 

 

Big Rock at Indian Springs Golf Course Over Seeding ScheduleBig Rock Golf Course at Indian Springs  
Closes 10/13/19
Re-Opens for Golf   11/6/19

 

 

 

 

 

Golf Club at Terra Lago Golf Course Over Seeding ScheduleGolf Club at Terra Lago
South Course
Closes 9/6/19
Re-Opens for Golf 10/12/19

 

Golf Club at Terra Lago –
North Course
Closes 10/13/19
Re-Opens for Golf  11/8/19

 

Platation Golf Club Indio Over Seeding Schedule

Plantation Golf Club
Closes 9/23/19
Re-Opens for Golf  11/15/19

 

 

 

 

Shadow Hills Golf Club Golf Course Over Seeding ScheduleShadow Hills Golf Club
Closes 10/7/19
Re-Opens for Golf  11/1/19

 

 

 

 

 

_______________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –
BERMUDA DUNES

Bermuda Dunes Country Club Golf Course Over Seeding Schedule

Bermuda Dunes Country Club
Closes  9/30/19
Re-Opens for Golf  11/4/19

 

______________________________________

2019 Coachella Valley Golf Course Over Seeding Schedule –
CATHEDRAL   CITY
See ALL of the Golf Course Homes For Sale in Cathedral City HERE

Desert-Princess-Country-Club Golf Course Over Seeding ScheduleDesert Princes Country Club
Closes 9/29/19
Re-Opens for Golf  11/1/19

 

 

 

 

Cathedral Canyon Golf Club Golf Course Over Seeding ScheduleCathedral Canyon Country Club
Closes
Re-Opens for Golf

 

 

 

 

Cimarron Golf Resort Golf Course Over Seediing ScheduleCimarron Golf Club
Closes
Re-Opens for Golf

 

 

 

 

The Coachella Valley is home to some of the Top Rated Golf Courses in the Country and the lifestyle is second to none.

We specialize in Golf Resort Properties, if you’ve been thinking about buying a Golf Get Away, we have the property for you.
Call Today for our Golf Resort Property Best Buy List!  (760) 218 – 5752

Cathi and Ben Walter - DesertAreaHomeFinder

 

 

Buying or Selling a Home with Solar Panels

Buying or Selling a Home with Solar Panels

Buying or Selling a Home with SolarMore than a 12 million homeowners across the U.S. added solar systems to their homes in 2018.  As solar systems have become more efficient and less expensive, they’ve become more popular with homeowners.

 

 

If you’re Buying or Selling a Home with Solar Panels, there are unique benefits and challenges you will want to know about

If you’re Buying or Selling a Home with Solar Panels how do you determine what value the solar system adds to the sale price?  In a recent study from Lawrence Berkeley National Labs, a research lab affiliated with the DOE, they found homes with solar sell for 4.1% more than homes without solar systems. The study found that home buyers are willing to pay a premium for systems that are owned.

The same is not true for leased solar systems. The home value premium only applies to homes with “host-owned” PV,(aka photo voltaic systems).  In other words, if you own your solar system vs leasing the panels from a solar company.

The study also found, just because you spend more on a larger PV system, the premium on the resale value may not scale to match the investment. Smaller systems for more modest homes return a higher margin on the investment when the home hits the real estate market.

When weighing the cost vs the benefit – the determining factor will be the ROI, how long it takes to recoup the hefty up-front investment. Through energy savings, tax credits, and the potential increase in your home’s value at time of sale.

There are many factors that influence a solar system’s true value, including the age, size, and power output of the system. No two solar systems are alike, which is why appraisers need to value each system independently.

One of the biggest gotchas of buying or selling a home with a rooftop solar system has to do with who owns the system and that depends how the system was purchased.

There are for ways to purchase solar panels:
Cash Purchase, Loan, Lease or Power Purchase Agreement. 

Buying or Selling a Home with SolarCash Purchase
Homeowners who purchase a solar system outright with cash own the system. That’s the simplest scenario in a real estate transaction. A solar system purchased outright is considered “real property,” in real estate parlance, or a fixture of the home, and can therefore be appraised as part of the home’s value.

 

Buying or Selling a Home with SolarLoan
The same applies to a system that was purchased with a loan that has since been paid in full. That system belongs to the homeowner. If, however, the homeowner is still making payments toward a loan, ownership will depend on the contract the homeowner signed with the lender. Most lenders allow the homeowner to claim ownership while they make payments. These systems can be appraised as part of the home’s value.

Other lenders may place either a lien or UCC-1 Filing (part of a legal set of rules that allow creditors to secure assets as collateral in the event of default by claiming third-party ownership) on the system. UCC-1 filings are technically not liens, but are often treated by title companies as a lien. If the system is secured with a lien or UCC-1, the lender may claim ownership of the system, which may therefore impact whether or not the system can be included in the appraised value of the home. Appraisal practices and underwriting guidelines continue to evolve as rooftop solar becomes more common, so be sure to work with your lender and title company to understand the specific guidelines in your area.

It’s also worth mentioning that sellers are on the hook to pay off any loan tied to a property prior to a sell. Solar is no different. Sellers are ultimately responsible for paying off their loan obligation as part of the sale or through other means if the buyer is not willing to take over the loan, and may want to adjust their asking price accordingly.

Buyers who are willing to take over the loan on the solar energy system will need to qualify concurrently for both a mortgage and a loan for the system, which may affect their debt-to-income ratio.

Buying or Selling a Home with SolarPower Purchase Agreement, (PPA) or Lease
Under a Power Purchase Agreement or Lease, the homeowner pays for the right to use the system for a specified period of time, but does not actually own the system. The system is owned by the solar provider, who typically places a UCC-1 Filing against the system as described above. Systems financed in this way are owned by a third party (not the homeowner) and cannot contribute to the appraised value of the property.

Sellers with a solar system obtained through a Power Purchase Agreement or lease must either transfer their systems to their new residence or “buyout” their contract. The specifics vary by solar provider, so be sure to read your contract.

Buyers looking to purchase a property with either of these types of agreements should obtain a copy of the solar contract tied to the property and decide if they are willing to take the contract. This process may add to the timeline, but may be worth the effort. Power Purchase Agreements and solar leases are a way to take advantage of the benefits of solar with little or no up-front costs. The rates are typically lower and fixed for a specified term.

BRINGING IT ALL TOGETHER

Buying or Selling a Home with Solar

Buying or Selling a Home with Solar Panels – Tips for Buyers

  • If buying a home with a solar system is high on your wish list, make sure your agent knows that.
  • Work with agents, lenders, and title companies trained or at least familiar with rooftop solar whenever possible.
  • Ask your agent or title company to check if a UCC-1 Filing (a lien) has been placed on the system. If there is, you will need to work with your agent, title company, solar provider, and the property owner to determine how you will negotiate the UCC-1 Filing as part of the deal.
  • If the system is tied to a Power Purchase Agreement or a lease, make certain you understand the risks and obligations of the contract before taking it over. You can also request the system be removed by the seller as part of the deal, assuming the seller is in a position to do so.
  • If the seller is still making payments on the loan for the solar energy system, work with your agent to decide if you will take over the loan or ask the seller to pay off the loan as part of the deal. Remember, if you intend to take over the loan, you must qualify for both the solar loan and your mortgage.
  • Ensure the appraiser accurately accounts for the value of the system. The appraisal validates the system’s value should you need to sell the property in the near future.
  • Allow extra time in your purchase contract for the closing date.  There can be a lot of moving parts when trying to completely understand the details, negotiate who will pay, etc

If you have solar installed on your Desert home and unsure how the solar impacts the value of your home for the current real estate market, give us a ring – we’re happy to help.

Buying and Selling a HomeBuying or Selling a Home with Solar Panels – Tips for Sellers

  • Work with agents, lenders, and title companies trained or at least familiar with rooftop solar whenever possible.
  • Get a jump start on the process, collect all of your system’s documentation together, along with 4 – 6 months of your most recent electric bills, and share those with your agent.
  • If you acquired your solar system through a Power Purchase Agreement, a Lease, or through a Loan; check to see if there is a UCC-1 Filing placed on the system. If there is, work with your agent,  title company, solar provider, and the buyer to determine the best way to negotiate the UCC-1 Filing as part of the deal.  Rarely, but possibly, the solar provider or finance company may be willing to provide a “subordination agreement”.  Taking 2nd position behind a 1st mortgage, if the buyer is willing to take over the contract.  This would be an exception not the rule.
  • If you’re still under contract with a Power Purchase Agreement, or Lease, or if you are still making loan payments be prepared to buy out your contract if the buyer is not willing to take ownership of the contract.  If the market is strong, you may be able to adjust your asking price to account for the added expense or search for a buyer willing to take the contract.
  • Ensure the appraiser accurately accounts for the value of the system. Remember, $0 valuations must be supported with sufficient evidence.
  • Chances are, potential buyers aren’t looking at your house just because of the solar panels and people unfamiliar with solar panels won’t know about the added value, so it’s important for you and your agent to explain this value. The appraisal can help with that, but a knowledgeable real estate agent will be an important part of this.  Be prepared to share past electric bills to demonstrate the savings you enjoy as a result of your solar energy system.

If you have solar installed on your Desert home and unsure how the solar impacts the value of your home for the current real estate market, give us a ring – we’re happy to help.

Final Thoughts
Buying a home with Solar, or installing solar on your home is generally a sound investment; If you live in your home for the duration of the warranty, you can expect a grid tie system to pay for itself 2-3 times over. With tax breaks and energy savings.

Even if you decide to move before the warranty is up, you still come out ahead. The value of the system can translate into a higher sale price when your home hits the market. That premium is typically enough to cover the cost of the hardware; which is a break even on the solar investment.

If you’re looking at purchasing a home with solar, and not sure what the price premium actually is, give us a ring we’re happy to help.

Agua Caliente Plans New Sports Arena

Agua-Caliente Arena

The Agua Caliente Band of Cahuilla Indians plans to build a 10,000-seat arena in the heart of Palm Springs for ice hockey and live entertainment.

The new facility will be north of the tribe’s downtown casino and two blocks from the desert city’s main drag. The arena project will be developed on the tribal property north of the Agua Caliente Casino Palm Springs, generally between Amado Road on the south, Alejo Road on the north, Calle Encilia on the west, and Calle El Segundo on the east.

Agua-Caliente Arena

Tribal Chairman Jeff L. Grubbe said in a phone interview that the partnership was more than a year in the works and came about because Oak View Group was looking for a home for the expansion team. The Coachella Valley’s large number of winter residents from Canada made it a natural fit.

Tim Leiweke, CEO and co-founder of Oak View Group, said the projected cost of the arena, training center and hockey team is $250 million. Tribal Chairman Jeff L. Grubbe said the arena will be privately funded, exclusively by the tribe and Oak View Group.

Live Nation Entertainment also has signed on as a strategic partner with the project and will “supply the new arena with its large stable of top touring artists and premium live events,” according to a news release.

Grubbe said he doesn’t have details on what the arena would look like yet, and not to expect renderings any time soon. He did say that the arena would be state of the art and would fit in with the overall look of downtown Palm Springs.

Groundbreaking and construction is scheduled to begin in February 2020, according to the tribe. The arena is expected to open by fall 2021 in time for the hockey season.

Desert Real Estate Market Update

The Coachella Valley Real Estate Market is Strong. 

When we look at prices now compared to one year ago, we see that detached home prices are up 4.6% and attached home prices are up 7.3% from last year.  Eight of Nine Valley cities saw a price increase.

Detached and Attach Home Prices by City

The total number of sales have slowed a bit from last year, down about 5.3%. Detached homes were down about 4% while Attached homes, which saw a bigger price increase, has had a bigger dip in the number of sales, down about 7.6%.

Number of Home Sales for Detached and Attached

When we look at the number of sales by Price Range, we see that the majority of the sales are between $200,000 – $500,000.  The largest dip in number of sales is in the $800,000 – $1m price range, then picking up again over $1m.  However, when we compare the number of sales year over year by price bracket, we see that the largest dip in the number of sales in 2019 was below $400,000. From $500,000 and up the number of sales were at about par over last year.

Number of Sales by Price Range

Currently there are about 3,600 homes listed for sale in the Valley, about the same as this time last year. This is a seasonal market; you can see the pattern on the chart below.  We reach our lowest inventory levels in September every year and gradually increase to an annual peak in February and March.

Housing Inventory

Breaking down the inventory levels; it’s no surprise that the lowest inventory levels are in the $200,000 – $400,000 price range.  The month’s supply starts climbing over $500,000. Based on the current number of homes listed for sale divided by the number of sales each month, if no new inventory entered the market, we see there is a 6 month supply in the $500,000 – $600,000 range.  About a 7 month supply for homes priced between $700,000 – $900,000 and a 13 month supply for homes priced over $1m.

Months Supply by price range

Based on price trends, the number of sales, inventory levels and low interest rates, we can say the Coachella Valley Real Estate Market is Strong.  The trends we see suggest that we will continue to see a strong real estate market throughout 2019 and into 2020.

If you would like more detailed market information about your city, your community, or your home specifically, give us a ring – we’re on standby to help.   (760) 218 – 5752

Palm Springs Modernism Week 2019

Modernism Week

Palm Springs Modernism Week 2019 returns for another year to revel in the beautiful, simplistic Mid-Century Modern movement. Modernism Week 2019 is a 10-day celebration of all things Modern in the mecca of “MCM,” Palm Springs. This signature event happens every February, gathering tens-of-thousands of Modernism enthusiasts from around the world to celebrate the form in all its glory, from sleek architecture to iconic furniture and fashions. Over the week-plus, participants can check out a variety of home tours, the Modernism Show and Sale, lectures from prominent figures within Modernism, films on the subject, and more.

Palm Springs boasts one of the largest concentrations of Mid-Century Modern architecture in the world and is the perfect setting for Modernism Week each year. With the creative fingerprints of legendary names etched throughout the Valley, including Wexler, Neutra, Frey, and Schindler, Palm Springs has an embarrassment of riches when it comes to highly-coveted Mid-Century Modern homes and structures. Modernism Week 2019 embraces the form and celebrates its unique characteristics, and is a local event everyone should check out.

Modernism Week

The Modernism Week Show House: The Christopher Kennedy Compound will showcase a refurbished midcentury home in the Indian Canyons neighborhood of Palm Springs, with 12 leading interior designers undertaking the redesign. Tours of the home will be offered daily.

On February 15, Modernism Week will host a special dedication ceremony on the Palm Springs Walk of Stars for acclaimed interior designer Arthur Elrod (1924-1974). Elrod’s former home will also be open for a home tour and evening cocktail party on Thursday, February 21.

One of Albert Frey’s most intact residential works, the Cree House in Cathedral City, has been meticulously preserved and restored to nearly its original 1955 condition. The home, never before seen by the public, will be available for daily tours during Modernism Week.

 

Desert Real Estate Market Report

DESERT REAL ESTATE MARKET REPORT
2018 Year in Review

As we start 2019, it’s time to take look back at how the Desert Real Estate Market performed last year and look for developing trends.

Home Prices are Up

In 2018, there were 5,836 single family home sales throughout the Coachella Valley. Those homes sold at an average of $610,300 and an average of $260. / Sq Ft.  Homes that were priced correctly for the market, sold on average in 89 days.  The highest sale price in 2018 was $12,000,000 for a home located in The Madison in La Quinta.

With those statistics, we compared 2018 sales to the previous year and found that while the number of sales were down slightly overall, (2%), Selling Prices were up 10% and the price / sq ft was up 8%. The time it took to sell was down 10% from the year prior.  The highest priced home sale in 2017 was $8,700,000. for a home located in The Vintage Country Club in Indian Wells.

When we look at the performance of each individual city; prices are up across the valley with two stand-outs – Palm Desert had a 20% price increase and La Quinta had a 15% price increase.

While prices are up, inventories remain low as compared to this time of season in years past.  Historically when the  inventory of homes for sale is low, prices tend to rise due to the pressures of supply and demand.

Interest rates also play an important role in how markets perform; rates are still low despite the fact that the Fed gave us 4 rate increases in 2018.  As rates increase, buyers can afford less house for the same mortgage payment, which ultimately puts downward pressure on home prices.

But good news, rates pulled back a bit this week. Conforming loans, (up to $484,350) for a 30 year fixed rate is still just 4.47%.

The Coachella Valley has long been viewed as a destination for the soon to retire and already retired home buyers looking for an active lifestyle, but with the increase in mobile commuting, people can work from anywhere.  We’re also seeing more young home buyers who are looking for a quality lifestyle, moving to the Desert full time.  Easy Freeway and International Airport access makes that possible.

Combine the Lifestyle that only the Coachella Valley offers along with affordable home prices – the Valley is and will continue to be a destination for both full time residents, second home buyers and

We have a strong and steady real estate market here in the Coachella Valley.

If you would like more detailed information about your neighborhood specifically, drop me a line – we just finished our  2018 “Year in Review” Market Report, I’m happy to send you a copy.

Cathi Walter
Broker Associate with Bennion Deville Homes
(760) 218-5752
Cathi@DesertAreaHomeFinder.com

 

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 Springs Aerial Tram Road Challenge

Palm Springs Aerial Tram Road Challenge
October 27, 2018 starting at 7:00 a.m.
Palm Springs Aerial Tram Road Challenge

If you’re looking for a challenge, then this event is for you!  The Palm Springs Aerial Tram Road Challenge 6K run / walk starts at 400 ft elevation and climbs to over 2,600 ft elevation.  This is not your typical weekend 5k.  This is the 32nd annual event with more than 1,500 participants from around the world come together each year to take the challenge.

Nestled at the base of the San Jacinto Mountains, Palm Springs is known for its crystal blue skies, year-round sunshine, palm tree lined streets and starry nights. Home to the Annual Palm Springs International Film Festival & Modernism Week, Palm Springs has fun & entertainment for all ages.  Be a part of what makes Palm Springs the place to be, check out these FAB Homes for sale in Palm Springs

Halloween Chili Cook Off and Car Show

Halloween Chili Cook Off and Car Show at the Palm Springs Air Museum
October 27 from 11:00 – 2:00

chili cook off ps air museum

Join the fun at the Palm Springs Air Museum’s 11th Annual Chili Cook-Off and Car Show.  Volunteers from the Museum cook up their favorite recipes and you decide who’s is the best.  It’s a goolish feast for the eyes and the tummy.

Palm Springs is known for its crystal blue skies, year-round sunshine, palm tree lined streets and starry nights. Home to the Annual Palm Springs International Film Festival & Modernism Week, Shopping, Fun and Entertainment for all ages.  Be a part of the Palm Springs Lifestyle, check out these FAB homes in Palm Springs

 

 

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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