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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.

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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!

10 Staging Mistakes to Avoid at All Costs!

10 Staging Tips to Avoid at All Costs!
Stuffed Living Room

Home Staging Design can make or break a potential sale.  Whether you’re using what you have or starting from scratch, there are some common design mistakes you’ll want to avoid.  Here are a few tips to help you make your home look great for the marketing photos and make your potential buyers say WOW!

  • Wall Hugger – It may seem like the logical and maybe even the only way to arrange furniture in the room, (especially if you’re working in a small room), but the opposite is actually true, you can harness the flow of a room by centering your pieces, pull them closer to each other instead of crowding your furniture against a wall. You will be amazed how the room takes on a different feel.
  • Collection Spread – we’ve heard it before – when selling your home, declutter, and yes that is true. BUT, the truth is we all collect; whether it’s frogs, figurines or forks from the 4th Century AD, and you likely want to have them on display. There is a right way and wrong way to display your collections.  First, if you have a lot of items in your collection, trim it down to just a few of your favorites and pack the rest, (you are moving right?).  Next, instead of spreading the pieces throughout the room or worse the house, bring them together – the key is small groupings.  Arrangements look deliberate and let your pieces speak for themselves.  Well laid out arrangements can enhance the staging of your home if you do it right, and let you enjoy your favorite collections while avoiding that cluttered look.
  • The Fickle Eye – you’ve lived in your home for years, over those years you’ve probably bought or inherited furniture and incorporated it into your home. Maybe it doesn’t quite match or it’s a little too big for the room or worse, you didn’t have room but still used it since it only partially blocks the walkway.  Now, years later you don’t notice it any more, you walk around it every day without a thought.  Our eyes can be fickle, they have a way of tricking us.  Now that you’re selling your home, it’s time to put on your “Buyer Eyes” and take a good hard look around your house. Are there extra or oversized pieces of furniture that force someone to alter the natural path as they walk through the house?   The old saying, “less is more” is absolutely true when staging your home to sell.  Don’t set up an obstacle course path with furniture and don’t cram the room full of small décor objects. Make the decisions now whether to store, sell, donate or pitch.
  • Dark in Small – Yes dark furniture can make a room feel warm, but they also make a small room feel smaller. If you have a small living room, opt for a lighter color palette.
  • Rug Rules – Area rugs are the best way to anchor a room or a setting and they can tie a room together. But used incorrectly, it can also leave your space looking disjointed and cluttered.  This is especially true in the living room, your rug should ground all of the seating elements around it.  Make sure when looking for the perfect rug, you buy one that is big enough to achieve this affect.  If possible, have all legs on the rug with a little rug showing behind the pieces of furniture, creating a frame around the setting.   If your living room furniture setting is 6’ x 8’ you should be looking at an 8’ x 10’ rug.  Plopping a 5 x 7 in the middle will make the room feel disconnected.  Not sure? Get my Rules of the Rug ebook to help bring your rooms together with area rugs.
  • Scale – Even designers can get it wrong sometimes; scale is one of the most important, (and sometimes the most difficult) elements of a well put together room. If you have a massive 10’ sectional in the room and put a small 5’ x 7’ area rug in the center or use a small coffee table, it just feels wrong.  Maybe you have a large Dining Room space and put a small table in the room, or vice versa you’ve got a small breakfast nook and put a large heavy wood table in the space.  Scale is important, think about it when you’re placing furniture or accessorizing a room.
  • Balance – Without balance in a room, it can make you feel uncomfortable and even anxious. Balance is as much about emotion as it is about good design and balance gives us a feeling of stability and wellness.  Creating a harmonious space depends on a few things; the furniture and the décor placement. Color and texture and the scale of the furnishings and décor.  Think about a seesaw, if one side of the room is heavy and weighed down, the room will feel off balance.  Example, if one wall has a tall wall unit and wall décor, make sure you balance that wall with something bold on the opposite side of the room.  If you have a heavy sofa on one side, balance it with a pair of chairs opposite the sofa or other foundational piece of furniture.
  • Matchy – A sure sign of an amateur decorator is where everything including the art matches perfectly.  It’s not about perfection, it’s about ambiance.  Example, balance a bold color with a large pattern that blends but doesn’t match exactly.  Or balance a bright warm color with a textured cool color.  Or choose colors that are the same hue but varies in intensity.  Homes look professional and well put together when new elements are mixed with old; smooth is contrasted with rough, polished is contrasted with nubby.
  • Boring – If you have a boring “beige” room, pick a great color and think about threading a needle, you’ll want to run that thread throughout the room and the house in a variety of different ways with pieces that pick up on that color or color palette.
  • Level – Rooms with furniture all the same height are boring. Create interest with changes in elevations through the room.  Put tall pieces next to short pieces.  If you have a low back sofa, add something like a tall armoire or bookshelf. The reverse is also true with small décor, use the 3:1 ratio.  Example, if you have 3 vases of varying heights grouped together, balance them with a single larger décor object on the opposite side of the shelf or mantel. It will make an eye-catching design statement.

These are called common mistakes for a reason and it’s easy to feel overwhelmed.  You may not know where to start or the most important detail to focus on. If you would like more information about staging your desert home to sell, give us a call, we’re here to help.

Top 6 Summer Staging Tips

Welcome

SUMMER STAGING TIPS
Did you know that more than 50% of the desert home sales happen during the summer  months?  The desert summer real estate market is as hot as it is outside; knowing how to present your home for sale will be an important factor for you to ask and receive top dollar.

 

Top 6 Summer Staging Tips

Keep it cool as a cucumber. no one wants to walk into a hot house.  All of a sudden, they’re thinking how do I get out of here instead of looking at your home.  Now is not the time to skimp on energy bills.

Show that the grass is greener. High water costs and water conservation are hard on our summer desert landscape.  However, keeping at least the front landscape looking fresh and lush will make your home stand out as the gem. The curb appeal will lure them in.

Set the Mood. set up a refreshing beverage station for your hot and tired home buyer’s and their agents. Place a vase with fresh flowers. Have a pitcher of Ice Tea or Lemonade with lots of ice and pretty glasses set out just before your showing.

Visual Power. Use fresh flowers in as many places througout your house as you can.  Make sure your home looks fresh, cheery and refreshing as possible.

Making Scents. Aromatherapy can help make your home more alluring. Scents like Citrus,  Eucalyptus or Rosemary say summer. They add a clean refreshing scent to your home.

In the Swing. There is an intimate relationship between music and marketing.  Music can evoke an emotional response.  The awkward sound of heels on a hard floor is hardly inspiring.  Heighten the senses of your buyer with background music, it changes the ambiance and heightens the senses and mood of buyers touring a home. Music has a persuasive impact and can create an illusion of life inside your home for buyers increasing their emotional attachment. The music you play is important, pair the music style to the style of your home and the buyer’s you’re targeting.

 

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!

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

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.

 

Train Day at the Living Desert

All Aboard! Train Day at The Living Desert
It’s Train Day at The Living Desert, featuring fun events including A Scavenger Hunt,  Train chats, Train Adopts, and more!

Train Day is centered around the 3,300 linear feet of track at the Garden Railroad with a train-themed treasure hunt, special trackless train rides.  Model train enthusiasts come from all over to enjoy this spectacular model train display. The first child to finish their Scavenger Hunt will become Conductor of the Day!

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

The Real Estate Corner

Market Watch Fall 2017

Market Watch

Here in The Real Estate Corner, we’re keeping an eye on the Desert Real Estate Market.

Leading Economist, Michael McDonald, is one of the principals in Market Watch, LLC. Michael along with his partners, study real estate markets, the US, and International economies and specialize in evaluating all aspects related to the real estate market including outside factors that play into how our market performs with cause and effect.

Twice a year Michael presents his report to the Top Real Estate Agents in the desert with their analysis of the local real estate market, where we’ve been and where we’re headed.

There are really two markets in the Desert; Full-time Residents who make up The Local Market vs The Second Home Market, and the Supply and Demand equation is quite different between the two.

“The health of the Valley housing market in the low, summer period, often indicates its performance in the spring.” Currently, there is a 4.4 month supply of inventory for all property types, which is down from 6.1 months supply one year ago. Indicating tight supply going into the season. There are positive sales and inventory numbers in all price brackets.

The leading measure for how much house you can buy is Median Household Income, it’s been up an average of 4.5% each of the past three years.  The inflation-adjusted household income broke above the high of 1999 and is now at all-time highs.

The past six years of the housing recovery has been driven by low-interest rates on mortgage loans; now it’s getting help from higher wages.

Since the peak of the market in 2006, the percentage of people who own a home in the valley declined from 66% to 61.5%.  As distressed homeowners who lost their homes in the downturn, move from renting back to homeownership again we will start to see an upswing in home sales over the next four years.

2006 marks the high point of the valley real estate market and 2011 marks the low point. Market Watch, LLC evaluates the market based on “Median” price as opposed to Average price, because average price is biased by a single large high-value sale, skewing the chart for the whole city. In their Median Price analysis by city we see:

La Quinta – Median Price $455,000
Up 85.7% from the low
Down 33% from the high

Indian Wells – Median Price $830,000
Up 53.7% from the low
Down 31% from the high

Palm Desert – Median Price $376,000
Up 31% from the low
Down 31% from the high

Rancho Mirage – Median Price $600,000
Up 41.8% from the low
Down 37% from the high

Palm Springs – Median Price $592,000
Up 76.7% from the low
Down 33% from the high

Indio – Median Price $305,000
Up 92.4% from the low
Down 19.8% from the high

The market continues to improve, gaining strength and momentum each quarter.  As we move into our new season, they are projecting an increase in the number of sales and if inventories remain low, we will start to see upward pricing pressure.

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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