October 2012 Palm Springs Market Report
What is the October 2012 Palm Springs Market Report? How are conditions for buying and selling as the season here gets under way?
You have questions? We have answers!
I’m happy to report the state of the Palm Springs Market Report is excellent! Why? Well for starters:
- Foreclosures are coming down here and across the US and here in the Coachella Valley too. Moreover, that so-called “shadow Inventory” of homes that the banks were holding back never did materialize. Many thought we’d see a new influx of foreclosures come on to the market that would drive prices lower. In Palm Springs, that did not occur.
- A recent article on money-rates.com explains that now is the time to act if you are thinking of purchasing a home.“Right now, conditions for buyers are exceptionally good, because current mortgage rates are at record low levels, and housing prices are still well off their peaks. Already though, recent numbers indicate that housing prices are starting to move. If this continues, mortgage rates might follow. In particular, if lower-end housing prices are now making the strongest gains, people looking to enter the housing market for the first time should prepare to act.”
- The season is here and sales always rise for Palm Springs during the October thru May time frame as the snowbirds and tourists arrive to enjoy our warm winter sun. Sellers who have held back on listing their home decide to list as the chances of selling increase.
Prices which were on the downside for too long of a time have turned up. Because of a low inventory during summer, it turned into a seller’s market with multiple bids on listings, higher than asking offers (to ensure acceptance), and bidding wars over the really good listings. That is turning around now.
There is another part of this picture. Builders are building and new homes are selling. We have a few new developments in Palm Springs that are active, selling, or even have sold out. And these are not low-end homes. The ones we see moving are $500.00.00 and up!
As the Money-Rate article concluded:
“The housing market may be better off than people know. As many found out during the housing boom, waiting until everyone knows the market is healthy before you buy can be an expensive proposition.”
So call us today at 760-413-2871 and ask us your questions about what we see as a great value. Ask us about your plans to buy a home here and retire. Or allow us to show you how to buy a vacation rental or a retreat for your own use.
The bargains are still here and they are real! Take a look below:
1 - 15 of 119.
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(all data current as of 6/19/2013)
$373,900 : 2110 N PASEO DE ANZA, Palm Springs4 beds, 2.0 baths
$500,000 : 635 S BEDFORD DR, Palm Springs3 beds, 2.5 baths
$429,000 : 1335 South San Joaquin Drive, Palm Springs4 beds, 2 full, 1 part baths
$359,990 : 490 East Molino Road, Palm Springs3 beds, 2 full baths
$379,000 : 2050 N VICTORIA RD, Palm Springs3 beds, 2 full baths
$395,000 : 175 WESTLAKE DR, Palm Springs3 beds, 2 full, 1 part baths
$329,900 : 3525 Daybreak Way, Palm Springs3 beds, 2 full baths
$449,000 : 238 North Burton Way, Palm Springs3 beds, 2 full baths
$495,000 : 684 N FARRELL DR, Palm Springs3 beds, 2.0 baths
$349,000 : 1220 East Caleta Way, Palm Springs3 beds, 2 full baths
$389,900 : 644 North Paseo de Anza, Palm Springs3 beds, 2 full baths
$374,900 : 1356 PRIMAVERA DR, Palm Springs3 beds, 2.5 baths
$429,000 : 888 Alta, Palm Springs4 beds, 3 full baths
$449,900 : 1579 CABILDO CIR, Palm Springs3 beds, 2 full, 1 part baths
$329,000 : 550 N BURTON WAY, Palm Springs3 beds, 2 full baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
550 S Oleander Rd Palm Springs, CA, 92264 USA
firstname.lastname@example.org • 760-413-2871