Your Home Has Been On The Market How Long?!
One of the first questions you’re asked, as a Realtor, is “How long will it take my home to sell?”
Well, that depends on a few things. If you listen to my advice and price it at fair market value (for its location and condition) it will take between 3-4 months to sell in today’s market (see chart above).
If you’re in a hurry to sell, you’ll want to price it slightly below market value and it will probably sell in a matter of days or weeks.
But, if you’re like the majority of home sellers, you’ll want to price it way above fair market value (every seller has their own good reason to do this) and it will sit on the market for six months to a year and then eventually be taken off the market, or worse, you’ll end up lowering your price way below what you could have sold it for in the first place and it will finally sell to some very lucky buyer.
And then, of course, you’ll blame the three real estate agents you hired and fired who couldn’t sell an overpriced home in this market. But don’t feel bad. You’re not alone. You’re just doing what everyone else does. Very few sellers price their homes to sell. Which causes another problem. When they do, and their home sells in a few days, they often feel that they’ve priced it too low. But that’s a topic for another post.
If you would like help pricing your home to sell at the best possible price and in the least amount of time and with the least hassle, please call or email me at stevestewart@kw.com and I would be happy to assist.
Want to know what your home is worth in today’s market? CLICK HERE and find out.
I’m not thrilled that I now have to pay $4 for a gallon of gas, especially since I’m driving buyers around town all day long. But I certainly wouldn’t pay $8 for a gallon of gas if I could go across the street and pay $4. I believe that today’s appropriate response to a situation like this is “hell to the NO.” Okay, I watch too much reality TV.
So, why would a buyer pay $800,000 for a home, when they could go across the street and buy the same home (give or take) for $400,000? Well, they wouldn’t and they don’t, which you can see from the chart above.
Sellers can ask anything they want for their home, but the majority of buyers are just going to go across the street or down the street and buy the home that’s being offered at a fair market price.
Want to know what your home is worth in today’s market? CLICK HERE and find out.
If you need help pricing your home, please call or email me at stevestewart@kw.com.
Tour Midcentury Modern Country Club Condo During Modernism Week
This Modernism Week (February 17-27), go behind the gates of the fabulous Seven Lakes Country Club, in South Palm Springs, and tour a Midcentury Modern condo, currently on the market. Open Houses being held daily.
DIRECTIONS: From downtown Palm Springs, travel South on Palm Canyon Drive until you reach Cherokee. Look for Open House sign. Turn left and drive one block until you reach the Seven Lakes Country Club gates. Guard will let you in during Open House hours. Call the number above or email stevestewart@kw.com to arrange a personal showing.
Click here to view address, additional information, photos and map.
Mortgage Interest Rates On The Rise
For most of 2010, mortgage interest rates held steady in the historically low 4% range. In 2011, they are now in the 5% range, and mortgage brokers are predicting, that like the steady rise of the stock market, interest rates will be in the 6% range by the end of the year. For every quarter percent increase, thousands of potential buyers no longer qualify for a loan. Something to keep in mind when you’re trying to decide if it’s time to sell or not.
Fee Simple vs. Lease Land
Of the 808 Palm Springs condos and townhomes sold in 2010, 533 were on Fee Simple land (you own it) and 275 of the condos sold were on Indian Lease Land.
OPEN HOUSE – Midcentury Modern Condo At Garden Villas West
What could be better than a Midcentury modern condo in South Palm Springs on Fee Simple land (you own it)? One that’s been completely remodeled inside and looks like a new, contemporary model home. If you’re in the market for such a condo, stop by and see it this weekend or call me for a private showing.
Day: Sunday, January 30
Time: 11am and 3pm
Address: 1840 S. Barona Rd., S. Palm Springs (Garden Villas West)
Details: 2 bedrooms, 2 bathrooms, approximately 1,322 square feet, built in 1964, near the community pool, three private patios and newly tiled throughout.
Asking Price: $239,000
For additional information, call me or email stevestewart@kw.com.
What’s Your Condo Worth Today?
Curious to know what your condo is worth in today’s market? Click here to find out.
January Condos and Townhomes For Sale In Palm Springs
As of January 2011, there are 610 condos/townhomes on the market in the city of Palm Springs, California.
521 condos/townhomes are for sale and 89 are contingent (already have offers but often accept backup offers).
Of these condos/townhomes, 291 are on fee simple land (you own it) and 230 are on Indian Lease land.
Lowest asking price is $20,000 at Palm Springs Villas II, 1 bedroom/1 bathroom, 589 sf., (1982)
Highest asking price is $895,000 at Tennis Club Condos, 3 bedroom/4 bathroom, 2934 sf., (1972)
If you have questions, or would like more detailed information, please call me or email stevestewart@kw.com.
Planning To Sell Your Midcentury Condo? Timing Is Everything!
The City of Palm Springs recently reported that “Palm Springs is one of the hippest destinations to visit in the U.S., according to Lonely Planet, a Northern California-based travel publication and Web site who recently ranked the City as one of its top 10 places to go in the U.S. in 2011.
Palm Springs was selected as a must-see destination because of its year-round sunshine, warm climate, superior collection of mid-century modern architectural jewels and annual signature events like Modernism Week, an 11-day festival celebrating the ideals of mid-century modern architecture, design and culture, slated next year for Feb. 17-27.
“We especially love Palm Springs’ annual Modernism Week,’” noted the editors. “It has events all over the city celebrating all things mid-century: clothes, cars, architecture, music, food…. Very Mad Men, no?”
The editors added, “When Northern Californians want to escape our cold and fog for a taste of summertime, we head to Palm Springs.”
“With Lonelyplanet.com receiving more than 4 million visitors per month, we are understandably thrilled that Palm Springs is one of the top 10 destinations to visit in 2011,” said Mary Jo Ginther, Director of the Palm Springs Bureau of Tourism. “Unique events like Modernism Week inspire people from all over the world to come and celebrate what Palm Springs has to offer!”
She forgot to mention – and to buy a condo! Call me if you’re ready to take advantage of all the Midcentury buyers coming to town next month.
December Condo Sales In Palm Springs
Thinking of buying or selling a condo/townhome in the city of Palm Springs, California? To get or make the best deal, make sure you know the market. Remember, last month’s selling prices are more important that this month’s asking prices. You can ask anything you want, but what buyers are willing to offer is all that matters in any market. Here’s what sold last month, in December 2010. If you would like more detailed information, please call me or email stevestewart@kw.com.
DECEMBER Condo/Townhomes sales in Palm Springs, California: 65 total sales
Lowest selling price was $41,000 at Palm Springs Villas II, 1 bedroom/1 bathroom, 589 sf., (1982)
Highest selling price was $575,000 at St. Baristo, 3 bedroom/3 bathroom, 2090 sf., (2006)
49 of the condos sold were on Fee Simple land (you own it)
16 of the condos sold were on Indian Lease Land
3 Bedroom Condo With 2 Car Garage For $144,000
Are you waiting to win the Lotto so you can move in next door to a celebrity home in the Old Las Palmas or Little Tuscany neighborhoods of Palm Springs? Well, your wait is over. You can live just blocks away from some of the most legendary celebrity homes in the desert, for just $144,000.
Casa De Oro is one of the best kept secrets in this very posh neighborhood of Palm Springs. Built in 1980, the condo development is also next door to Tangerine, the new, modern, luxury townhomes on Palm Canyon Drive. The popular Toucan’s, Dink’s, Billy Reeds, Rick’s and the Riviera Hotel are all just blocks away, as well. Currently on the market in this development is a 3 bedroom, 2 bathroom, approximately 1152 square foot condo with a 2 car garage. If you know Palm Springs you know that very few condos here offer 2 car garages. And, perhaps best of all, you own the land. This is an upper level condo with no unit beneath. Amenities include inside laundry, a private balcony in the front with mountain views, multiple pools and spas, tennis and a clubhouse.
For complete information about this condo, or to view additional photos, CLICK HERE
For a private showing, contact me today.
A 2 Bedroom Condo In South Palm Springs For $75,900?
No that’s not a misprint! You can own a Midcentury 2 bedroom, 2 bathroom, 757 square foot condo in South Palm Springs for $75,900 – and you own the land. It doesn’t get much better than this. Located in the very cool and very retro Desert Skies complex (built in 1958), this is an upstairs end unit with views of the mountains.
I’ve been told that this 38 unit complex was the first apartment to condo conversion in Palm Springs. HOAs are a low $288 per month. Amenities include 2 pools and spas and club rooms. Near the Indian Canyon golf courses, hiking trails and shopping. This complex only has 7 two bedroom units, so this is a rare bargain. A Bank Owned property, it won’t last long. Call me today for a personal showing or for additional information. Truly one of the great deals in Palm Springs.
For complete information about this condo and to view additional photos, CLICK HERE
House Hunters Homebuying Quiz
Are you a gearhead that scrutinizes the inner-workings of a home and analyzes utility bills? Or are you more interested in the spa bathroom and stylish accent walls? Are you looking for a down-and-dirty deal, or willing to pay top dollar to acquire a hot address?
What Does Motivated Seller Mean?
Real estate agents routinely advise sellers to list at a reasonable asking price, a price indicated by a comparative market analysis. But sometimes sellers refuse. When they refuse, agents might say the seller is motivated. They say this to encourage buyers to submit a less-than-list-price offer.
Trends for Home Buyers
To understand home buyer trends today, it’s almost easier to look at what is not hot, at what buyers don’t want to buy. There’s a lot about the 1980s that many people don’t appreciate such as much of the music — except for U2 — and most of the homes built in that decade. In fact, homes built from 1970 to 1999 are often passed over for older or newer homes. All of which means doing your best Nancy Reagan impersonation and just saying no to:
When Neighbors Fight, Who Should Referee?
What happens when your neighbor blasts his music too loud? Complains about your trees covering his yard and cuts down branches? Fills his garage with fireworks for Fourth of July? Or gets mad at you and dumps garbage on your lawn?
October Deals For The Season’s Early Birds
In the market for a condo for under $100,000? You’re in luck. There are still dozens of very nice condos in this price range, from the north end of the city to the south. Contact me today and let me help you find an amazing deal to go with today’s amazingly low interest rates. But don’t wait too long or you’ll be competing with the cash-buying snowbirds who are already heading back to the desert for the upcoming season.
Palm Springs Condo Deal Of The Week
Located in the NON-gated community of Sagewood, on Sunrise Way near the corner of Vista Chino, in North Palm Springs, is a single-story, single-level, level 2 bedroom, 2 bathroom unit with approximately 1050 square feet, overlooking the beautiful community pool. The condo is clean and bright and feels more like a home than a condo. It includes a covered garage, a large patio, ideal for pets, neutral tiled floors, except for the bedrooms and was built in 1972. The asking price of this bank owned condo is currently $149,900. It’s also conveniently located next door to two grocery stores, a gym, video store, restaurants and more. All of which makes this my Condo Pick of The Week.
What’s On Your MUST-HAVE List?
I held an Open House last Wednesday, at the Villa Riviera condos on Ramon, near the corner of Sunrise Way. A house hunter happened to be driving by, saw my signs and flags and stopped in. He told me that he’s decided to sell his large house, here in the Palm Springs area, and downsize to a condo. I asked him what was on his wish list and what was on his must-have list.
He wasn’t your typical buyer. He knew exactly what he had to have - a one-story, single level condo with a garage (not a carport), a closed-in patio or atrium for his two small dogs, a Central Palm Springs location, or adjacent (on or near Sunrise Way), and within a couple of blocks of a grocery store. Oh, and it had to be on fee simple land (not Indian Lease Land) for under $400,000. These were his only must-haves.
Well, Villa Riviera offered everything except the garage and is priced in the mid $200,00s. But, fortunately, right next door is the Firebird condo development, that’s nearly identical to Villa Riviera, but they’ve recently turned their carports into garages. Not far from Villa Riviera, near Sunrise and Alejo, is option number three. There are currently two Greenhouse East condos (pictured above) that have been recently converted from Lease to Fee land. Not only do they have everything on his must-have list, but many things on his wish list, as well. Option number four is further North on Sunrise. In fact, it’s next door to the Stater Brothers market at the corner of Vista Chino. It also happens to be across the street from his gym. The development is Sagewood condos. One of the available listings is a 2 bedroom, 2 bathroom, bank owned property, overlooking the community pool, listed at $150,000. The hard part will be choosing between all of these amazing options, all selling at bargain prices.
What’s on your must-have list?
Labor Day Midcentury Modern OPEN HOUSE Weekend Extravaganza!
There are currently eight Midcentury modern Canyon View Estate condos on the market in South Palm Springs. Most will be open for viewing over the Labor Day Weekend.
Stop by my Open House for a list of all the addresses.
Time: 11am – 3pm
Dates: Saturday and Sunday, Sept. 4th and 5th
Address: 222 Avenida Granada, near the corner of S. Palm Canyon Drive
Asking Price: $339,900 (Others range in price from $239,000 to $359,000)
OPEN HOUSE Midcentury Modern Condo Near Downtown
OPEN HOUSE
DATES: Wednesday, Sept. 1 and Friday, Sept. 3
TIMES: 11-1 both days
ADDRESS: Villa Riviera – 1855 E. Ramon Road #9, Palm Springs, CA 92264 (Near Sunrise Way)
Asking price: $249,000
Midcentury modern 2 bedroom, 2 bath condo with approximately 1412 sq. ft., patio, atrium, views and you own the land. Low HOAs include water, trash and basic cable and only blocks from shopping and entertainment. Beat the Labor Day weekend crowds to see this swanky midmod charmer. Condos in this complex are rarely on the market – and rarely stay on the market long.
Current Palm Springs Bank Owned Condos
There are currently 67 Bank Owned condos on the market in the city of Palm Springs. Prices range from $22,500 to $324,900. Of these, 41 are on fee land, you own it. The 67 Bank Owned condos are in the following communities:
Biltmore
Biltmore Colony
Caballeros Estates
Canyon Heights
Casa Sonora
Casa Verde
Catalina Grove
Deauville (Pictured above)
Esprit
Fairways
La Siesta Villas
Lantana Lodge
Merito Manor
Movie Colony
Palermo
Palm Springs Country Club
Palm Springs Golf and Tennis Club
Palm Springs Villas I and II
Park Imperial North
Ranch Club Estados
Rancho La Paz
Rose Garden
Sagewood
Sandstone Villas
Seven Lakes Country Club
Sierra Madre
Smoketree Racquetclub
Sunrise Palms
Sunrise Racquetclub
Villa Alejo
Village Racquet Club
If you would like me to email you as soon as future Bank Owned condos in the city of Palm Springs hit the market, call me or send me your email and I’ll add you to my list.
OPEN HOUSE – Midcentury Modern In South Palm Springs
OPEN HOUSE at Canyon View Estates
Date: Sunday August 29th
Time: Noon to 4pm
Address: 2436 S. Sierra Madre, Palm Springs 92264
There are currently six Canyon View Estates Midcentury modern condos on the market, offering 3 bedrooms and 2 bathrooms. Square footage is from approximately 1726 to 1992. The asking price of this condo is $304,000 and is the lowest price for a 3bd/2ba in the subdivision.
Condo Pick Of The Week – In South Palm Springs
Each week I write about condos that really stand out from all the others, for one reason or another. Sometimes it’s the price, sometimes it’s the location. Quite often it’s the amazing condition, views or size. Occassionally, it’s because a condo has all of these things going for it, like the condo I previewed yesterday.
Located in the gated community of Summerset Springs, near E. Palm Canyon Drive and Broadmoor, in South Palm Springs, it’s conveniently close to shopping and the Tahquitz Creek Golf Course and you own the land. This upper level 2 bedroom, 2 bathroom unit is approximately 1178 square feet, clean and bright and move-in ready. It includes a fireplace, extra high ceilings, balconies with views, a separate laundry room, and assigned covered parking space. All of this for an asking price of only $155,000. This is what you would expect to pay for a bank owned home or short sale, but it’s neither. That’s what makes it my bargain pick of the week.
Downtown Area Condos Still Available For Under $100,000
Catalina Grove, Desert Arches, Desert Lanai, Desert Palm Villas, Lantana Lodge, Pueblo Sands and Ranch Club Estados are all condos in the Central area of Palm Springs on fee land (you own it!). All of the other condos listed in the MLS, in Central Palm Springs, are on Indian Leased Land.
The Catalina Grove condos are located at the corner of Sunrise Way and Alejo Road and are one of the closest developments to downtown. The Convention Center, casino, movie theaters and downtown village are just blocks away (long blocks, if you’re walking). There are currently two units available, a 1 bedroom, 1 bath lower unit (approx. 850 sq.ft.) and a 2 bedroom, 2 bath upper unit (approx. 1150 sq.ft.). Best of all, both have asking prices under $100,000.
Midcentury Modern Country Club Living On Fee Simple Land!
What’s better than a Midcentury modern condo in the South end of Palm Springs? One that’s on fee land (you own it). If you’re a Midcentury modern enthusiast, you know there are few of these to be had. And you know what happens when supply is low and demand is high – they don’t last long. Designed by famed architect A. Quincy Jones and built in 1965, these large, two and three bedroom condos at Country Club Estates are near the Indian Canyon golf course, and the Smoketree shopping center.
There are currently two on the market, starting in the high $200,000s. 
There are currently 50 single family homes within the Palm Springs city limits for sale in the low, mid and high $100,000s. 49 are on fee land (you own the land), only one is on leased land.
$103,500 is the lowest asking price. The home has 3 bedrooms and 2 bathrooms with approx. 1512 sq ft, was built in 2006 and is located in the community of San Jacinto Coves.
$199,000 is the highest asking price. The home has 2 bedrooms and 2 bathrooms with approx. 2023 sq ft, was built in 2005 and is located in the 55-plus community of Four Seasons.
The other single family homes in this price range are located in the following communities:
Araby, Demuth Park, Desert Park Estates, El Rancho Vista Estates, Gateway-Highlands, Mountain Gate, Ruth Hardy Park, Sunrise Park, Tahquitz Creek, Victoria Park and those not in a development.
What’s better than a Midcentury modern condo in the South end of Palm Springs? One that’s on fee land (you own it). If you’re a Midcentury modern enthusiast, you know there are few of these to be had. And you know what happens when supply is low and demand is high – they don’t last long. Click here for further details.
If you’re searching for a golf course condo, or a condo near a golf course, in the city of Palm Springs, you have plenty to choose from, in all price ranges.
PALM SPRINGS NORTH
Palm Springs Country Club
PALM SPRINGS CENTRAL
Mesquite Country Club
Mesquite Greens
PALM SPRINGS SOUTH
Esprit
Fairways
Los Pueblos
Mountain Shadows
Oasis Resort Condos
Palm Oasis
Palm Springs Golf & Tennis Club
Sandcastles
Seven Lakes Country Club
Tahquitz Creek Golf Condos
Tahquitz Creek Villas
Villas De Las Flores
If you would like to know more about any of these condo developments, or if you would like to see any of the available condos currently on the market, please give me a call. I’d be happy to help you find the perfect weekend, vacation or full time golf condo to suit your lifestyle.
Photos above were taken at the Mesquite Country Club.
Four Seasons Open House This Saturday
If you’re in the market for a 55-plus Palm Springs home, stop by the Four Seasons this Saturday. I’ll be holding an open house. Click here for complete details.
