Real Estate in Palm Springs, Palm Desert, Rancho Mirage, La Quinta, and Indian Wells, California.
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August 2008

Monthly Archive

Clients contact me and want to look for foreclosures

Posted by claudine @ 2:14 PM, Wednesday Aug 27th, 2008

Clients contact me and want  to look for foreclosures http://www.claudinereal.com/Foreclosures.htm …and I really want to help but it seems that our area is “LOW” on foreclosures …I am of course of areas where “my clients” would like to buy …desirable areas that make sense down the road for resales (isn’t the main focus when buying foreclosures) .

What I am finding out is that looking at “regular” listings and reading in between the lines we can understand which are the ones we will be able to “get” for much less and at a comparable price that you would have on a short sale or foreclosure.

Most of the sales closed this summer were is this parameter.

Let me tell you more…don’t be shy and post your comment if you disagree.

Summer Real Estate in Palm Springs and the area

Posted by claudine @ 1:21 PM, Saturday Aug 23rd, 2008

I always spend my summer in town ; this is the down time I usually use to update my websites and take care of projects kind of put aside during season.

This is it is all different.

I have closed over 12 escrows….still a few deals not closed….and more coming …

And I am reading everywhere how bad things are!

Our local micro market is doing fine..(Well I would not say that we are selling at prices seen 2 years ago…but we are selling ..)

Deals are being made and mainly with foreigners (Canadians for the most part down here) and most of them cash deals.

What is the impact for us getting close to our season ? The inventory is coming down…not as much as we would like to see…but coming down.

See my real estate  news items : http://www.claudinereal.com/Real_Estate_News.htm

What are your concerns in buying real estate NOW in our area ?

Have you heard things different that what I am saying ?

 

The Summer in Palm Springs!

Posted by claudine @ 10:27 AM, Sunday Aug 3rd, 2008

Yes hot but hot hot in sales !  I am selling just as if we were in high season and I understand …understand the buyers brave enough to come and run around with me in 110 degrees heat to look for the deal! And yes deal are being made…and yes sellers are accepting low offers…and I am not shy of writing low offers.

This might be my best year yet in sales !! So by reading the news media …I feel I am living on another planet or continent because I AM BUSY!! and I AM SELLING!..

Take a look a the statistics page of the site http://www.claudinereal.com/Area_Sales_Statistics.htm 

Yes you might say what about next year prices?…Well I do not have the cristal ball but I know my market and the inventory is dropping and that means that getting closer to season and seeing naturally more buyers around we are just now hitting bottom and the sellers can only go so low…
OUr sellers for the condos type properties are not the ones hurting by subprime - our sellers are selling their second home that they bought for cash for most part and will only go as low as they have paid for it in the best case figure. THey DO NOT HAVE TO SELL!
The foreclosures are mainly on new built properties in the newly developped areas of the valley bought with subprime loans by young families , first time buyers that were put in the bad situation by the banks.
So in fact the market affected is the single families home market ..the condo market is active….
 
Yes the market has affected the sellers but they don’t have their back to the wall!!