Palm Springs real estate market update

May 15th, 2013

april 2013 stat

How is the market doing near the end of the 2013 season? Certainly very surprising for some of you, but not for us. We have been saying JUMP IN and BUY NOW since last December! We are very happy for all of you that did or are ready to do it before next season.

Results for April 30, 2013, considering it is close to the end of our snowbirds season – The increase in prices for the homes since October has been significant and even more so during the last month of our season – see below!
At this point in our season we have an inventory of 2602 homes for sale in the cities we cover, that is 9% down from last month.
Of these 2602 we have 51 Bank Owned (less than 2%) and 70 Short Sales (just above 2.5%) which brings a total number of distressed properties to less than 5%.

Prices are showing overall increases across the board:
Palm Springs : 10% increase in ONE MONTH WOW!
Rancho Mirage : 11% increase in ONE MONTH
Palm Desert : 12% increase in ONE MONTH
Indian Wells : 13% increase in ONE MONTH
La Quinta : 11.2% increase in ONE MONTH
SunCity : 5% decrease but we had a 20% increase last month over last October.

Take a look at the chart below giving all the details. We will be in town until mid-July and ready to show the best of the best in our area.



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One of Palms Springs Homes owned by Frank Sinatra – Did you Know?

March 17th, 2013

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This is the Twin Palms Frank Sinatra Estate – quite a story behind that home (need to read the whold post)947 by E. Stewart James for Frank and his first spouse Nancy Barbato.This home was used by Frank to cut his records when he was in Palm Springs.Frank use to raise to flag when ready to serve drinks around the piano shaped pool. NOT A HAPPY LIFE they had there (we all know about their tumultuous relationship and life). So came time of divorce and Mrs. Sinatra (Ava Gardner) was by court entitled to half of the proceeds from the sale of the house. So Frank sold the house for $1 (ONE) and wrote a check to Ava for 50 (FIFTY) cents to his newly divorced wife. The new owners never disclosed who was the previous owner and never changed anything to it. After their passing the home was still “unknown as who the previous owner was”. Of course it sold again and this time all the memorabilia inside the home gave away and here it is today a wonderful estate you can rent out for events or more.



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El Mirador Hotel – Palm Springs Celebrities – Did You Know?

March 5th, 2013

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It all started when in 1927 a pioneer from Colorado Prescott Tresher Stevens took the gamble on Palm Springs and built a hotel on 20 acres. It stood up on the only paved street of Palm Springs. A great New Year Ever Party took place in December 1928 and a grand opening next February. The hotel attracted celebrities from the Hollywood scene such as Ralph Bellamy, Charlie Chaplin , Leslie Howard and Charlie Farrell.

The depression came with its bad news and Prescott Stevens did poor and totally ruined. But Palm Springs was already Palm Springs and celebrities came coming such as Albert Einstein, Howard Hughes at the El Mirador under new management .

Where would Palm Springs be today without the El Mirador Hotel and its Tower?



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Palm Springs first Mayor – Did You Know ?

March 3rd, 2013

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Spencer Tracy and Charlie Farrell game of chess at the Racquet Club

Film Actor of the silent era and then television actor, Charlie Farrell became the First Mayor of Palm Springs from 1953 to 1960. Died in Palm Springs in 1990 .

Charlie was a major contributor to the development of Palm Springs with his friend Ralph Bellamy at the Famous Racquet Club . The play ground of the rich and famous away from Beverly Hills.



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Palm Springs Celebrity Homes – Did You Know?

February 28th, 2013

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Along with Bod Hope , John Johnson, Steve McQueen “The King of Cool”  also owned his getaway home in Palm Springs SouthRidge up the mountain. Steve McQueen was the highest paid actor in the world in 1974 and still he wanted a “real Gateway” in Palm Springs.  He bought the house while married to his former wife  Neile Adams and enjoyed their time in the Desert

 

 

 


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Palm Springs Celebrity Homes – Did You Know?

February 27th, 2013

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Did you see the Greatest James Bond movie “Diamonds Are For Ever” ? Do you remember that great house where he got kicked by the two beautiful ladies? Well take a look at the picture : this is where is was filmed .

John Johnson ,black  multimillionaire and executive director of Elbony magazine, also the” inventor” of the black consumer market built his home right next to Bob Hope’s entertainment home on top of the Mountain in Palm Springs. The house was built in 1969 by John Lautner Elrod and listed in 2011 for 13.9Millions (did not sell) now off the market.



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Celebrity Homes in Palm Springs – Did You Know?

February 26th, 2013

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DId you know that the John Lautner “mushroom roof home” built on top of the mountain in Palm Springs was not the home Bob and Dolores Hope lived in as a second home in Palm Springs. They lived in the home they bought in the Movie Colony Celeb. neighborhood in Palm Springs. Home built in 1936 that they bought in 1941. This home is House Number One with 3 bedrooms – 3 baths – 2 car garage. They also bought second home Number Two , this one on a double lot with 5 bedrooms – 7 baths and also a 2 car garage.

the larger home was on the market for $659K and sold on Valentine’s day for $725K ! The first one has been withdrawn.



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Palm Springs Celebrity Homes – Did You Know?

February 25th, 2013

bob hope photo BobHopeHouse_zps84e7e494.jpg

 

Bob Hope’s second home in Palm Springs, was the home He and Dolores used for entertaining. 6 Bedrooms and a living room with a capacity of 350 guests. This home is on the market for $50Millions. The distinctive roof line (mushroom shape)  caught on fire and burned during the time  it was built (by time the fire engine got on top of the mountain, it was too late). The John Lautner famous modernist architect  home was completed  in 1980 and remains until today one of the most famous landmark for Palm Springs.

The two other homes they owned in Palm Springs, one they used to live in and the other one as a guest house are both on the market for sale at very affordable prices.



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Palm Springs Water and Golf Courses – DId you know?

February 24th, 2013

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125 Golf Courses in Palm Springs and the Desert Cities Can we afford all this water IT IS YES!! The “secret” is the Aquifer. The surrounding mountains create a barrier for clouds and rain storms to hit us. We have 350 days of Sun in our Valley. The clouds break on the mountains and it rains and snow up there sparing Palm Springs and the area. But the water is NOT all losts it goes into the Aquifer underground .

All drinking or domestic water comes from the Aquifer. The water is lying under ground in a tub filled with sand and gravel and topped with a layer of clay. Pumps bring it up to 58 reservoirs and then delivered via 1900 miles of distribution pipes.

A great number of golf courses , and home owners associations irrigate with recycled water.

So yes you will be surprised with the landscaping and green looking grounds in Palm Springs and the area.

 



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Palm Springs Celebrity Tour – Did you Know?

February 23rd, 2013

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I knew Palm Springs was amazing but now I know why and how. After 12 years living here, it was time to take a day to know and understand my town ” Palm Springs”. So Alvin and I took a day off and signed up for the Celebrity Tour and OMG! was it ever great! My love for Palm Springs doubled in one day. First thing first, why so many movie stars made Palm Springs their number destination in the Golden Years? Well their contracts did not allow them to go further than 200 miles on short trip without the OK of the producer, director when they were in the middle of a movie. Palm Springs became the ideal destination. This is why the longest list ever of movie stars and  celebrities had homes in Palm Springs . Stay tuned for more.

 

 


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copyright Claudine Messika 2007


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