La Quinta, CA Real Estate News

By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Short Sale Team formed at HK Lane Real Estate.  With the numbers of Short Sales rising rapidly, we have formed a team specifically designed to handle them at HK Lane.  Harvey Katofsky and Ron Gurlich, our steadfast leaders, (also owner and Broker) at HK Lane, have joined forces with some top professionals.. Paul Bojic:  Real Estate Attorney AND Broker.  Paul is available to help qualify Short Sale potential Sellers to make sure that the route of Short Sale is their best solution. Kimberley Kelly & Ally Valesquez:  List Agents.  I have years of negotiating with Short Sale Lenders, and Ally has been listing and selling REO's and Short Sales as well.  Short Sale Success:  Professional Short Sale negotiation team that will help to convince the Lenders and Investors that YOUR particular situ...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Short Sale Tidal Wave...is it coming???  I have been doing Short Sales for over 4 years, am SFR certified, read about the Short Sale process daily, try to keep as updated as I can, but still have a nagging thought in my head.. "Am I ready, (not if, but when), that Short Sale deluge hits?"  Because I truly do think it's coming.  Here in the Coachella Valley, we are seeing Short Sale numbers increase on a monthly basis.  Our distressed inventory numbers have dropped, and the Short Sales always appear to be the "best deals" around.  Well, they should be because we all know they are long and torturous to complete. I suspect even more are coming end of 2010 and 2011, 2012 will be inundated.  Why?  The Shadow Inventory of Homeowners 30 days or more behind on their mortgages, job losses and ed...
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
                                                                                                                     Cooking with Class We tried out the "Cork & Fork" at Cooking with Class last night!  Wow-- amazing food, fun surroundings, and excellent service! And Here's What Else is Cookin' this month: Dinner and a Date - "Summer in France" July Food and Wine Tasting Dinner "Simply Trader Joes" "Fit and Fabulous 4th" "Couples in the Kitchen" "The Best of Julia Child" Breadmaking Workshop "Italian Classics for Everyday Entertaining" and their popular Saturday $5.00 Wine Tasting! Great News...It's BACK!! BY POPULAR DEMAND, CORK AND FORK" HAS RETURNED! JOIN US EVERY WEDNESDAY NIGHT FROM 5:30 pm-9:00 pm FOR THE "THE BEST HAPPY HOUR IN TOWN!" Feast on delicious food and enjoy their amazin...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Buyer's Agents...Stay AWAY from my Short Sale Listings!  Of course I do not mean ALL Buyer's Agents, but if you are representing a Buyer for a Short Sale, and you do not understand, and truly grip what is involved in a Short Sale..drive on by and do not look back. I CANNOT MAKE the Lenders do anything!  I cannot force them to "be sensible", "be logical"...be ANYTHING.  Short Sales are very different than traditional Sales, and if you as a Buyers' Agent do not completely comprehend how much work, time, effort, organization, pleading, begging, and cajoling I do to try to get those Investors to see why they should take the offer, please, please, I beg you..do NOT submit that offer. I try very hard to screen my Buyers and their Agents to be sure they "get" the Short Sale process.  But, some...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Short Sale Cashola! But my Short Sale offer is higher!  It's difficult to understand, but here it is..it depends on when you submitted your offer and also the terms/conditions you included in the offer. List Agents want to get their Seller as much as possible, but they also want to get the Short Sale assigned to a negotiator and worked and hopefully CLOSED.  If I am representing a buyer on a Short Sale, the first thing I do is call the List Agent if the property is not showing contingent.  If it is my Buyers' offer is guaranteed to be a back up offer..no matter what the offer is.  The List Agent is already working the offer in 1st position.  "But my offer is higher!  The List Agent even said so.."  That may be true, but there is one offer at a time worked with the Short Sale negotiator...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Agents; Don't blame ME if your client can't wait for the Short Sale to be done.. I received a phone call from the Buyer's Agent yesterday afternoon on one of my Short Sale listings that I just received the Bank's Counter on.. "My Buyer has been hanging in here for 2.5 months!  I CANNOT BELIEVE YOU are now telling me, you haven't got this accepted!  That's Bull****!  How is he ever going to qualify for the CALIF state tax credit?"  Here's my response...  "What part of Short Sales are you not familiar with Mr. Buyer's Agent?  The part where there is NO set close date?  The part where there is a HUGE CONTINGENCY on this deal..that of Lender approval?  What part of the e-mail that I sent you directly quoting our negotiator stating "We CANNOT guarantee a close by 6/30" did you not understand...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Short Sale fantasies..yikes!  The've crept into my fantasy world, and I feel obliged to share...In my mind...I meet a homeowner who has tried everything.  They've been working with their Lender.  They've tried the Loan Mod.  They've kept up on taxes, HOA's, utilities, lawn mowing, pool maintenance, and the home is in great shape.  They call me because they want to save their credit to the best of their ability and are usually embarrassed, and exhausted, but still trying to do the best they can...and are finally at the Short Sale stage.My distressed homeowner agrees to go see their CPA..and does. They feel informed and okay about the possible tax consequences.My distressed homeowner agrees to contact their Lender and supply them with all financials, letters & docs the Lender requires for...
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By Tina D Saporito, Your Dedicated Palm Desert, CA Realtor Since 2005, Call (760)799-8460. www.JustListedinPalmDesert.com
(Ronald Christopher & Associates. Proudly serving Palm Desert, La Quinta, Indio, Rancho Mirage, & Palm Springs.)
Another La Quinta Short Sale Home SOLD!  The proud new homeowner of this La Quinta short sale is sure to enjoy the mountain views from every direction of the home. The La Quinta home featured tile floors, dining area, fireplace, a spacious living area, vaulted ceilings, separate laundry room with cabinets, and master suite with double sinks, separate shower and soaking tub. The new owner will also enjoy the private pool, palm trees, landscaping, covered patio and BBQ of this La Quinta cove home!             Buyers don't let another short sale deal fall apart. Deal with an experienced La Quinta Short Sale agent!   If you are considering selling your home as a short sale in the La Quinta area, please contact me for a free consultation to see if a short sale will work for you.     La Quint...
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
  Daily Summer Specials                                                                      VIVA! Cantina & Grill  - 760-777-6625 Margarita Mondays - $4.95 Margarita's All day & nightTaco Tuesday - $1 Taco BarWild Wednesdays - A shot of tequila and a beer for $5Tijuana Thursdays -  $2 Tijuana Dogs Fiesta Fridays - A Cabo fish taco and a beer for $5Saturdays & Sundays - Happy Hour all day & night in the Cantina and on the patio. Old Town La Quinta is.....                                                 ...THE HOT SPOT for HAPPY HOUR!____________________________________________________________________________
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
Palm Springs Restaurant Week Now thru Sunday, June 13, 2010Dine at Devane's, Hog's Breath Inn & VIVA! Restaurant Week is a culinary celebration featuring restaurants from the entire Valley from Palm Springs to Indio. Participating restaurants are offering a three-course menu at the fixed price of either $24 or $36 per person (tax, beverages and gratuity are not included).  Old Town La Quinta restaurants participating in this year's event with $24 fixed menus to enjoy include:  Devane's, Hog's Breath Inn and VIVA! Don't miss this exciting opportunity to experience some of the best restaurants the desert has to offer. Restaurant Week is the perfect time to visit your favorite restaurant or try something new, as chefs prepare delicious three-course meals for your dining pleasure at a fixe...
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
  Best Gelato in the Desert!  COOL OPTIONS in Old Town La Quinta! Gelato, Sorbetto and Ice Cream Now Chilling Out in the heart of La Quinta Village  Hanging out in Old Town La Quinta is now even cooler - just in time for summer. Old Town La Quinta welcomes Cool Options - a new gelato, sorbetto and ice cream shop opening TODAY in Old Town La Quinta. "After the recent closing of Baskin Robbins in La Quinta, it's great to have new 'Cool Options' in the community," said Leslie Locken, property manager of Old Town La Quinta. "We're excited to provide a gathering place for kids, seniors - and everyone in between - to enjoy refreshing treats." Cool Options will be offering a menu of Palazzolo'a gelato and sorbetto, Clemmy's all-natural and sugar free ice cream, homemade gelato pies, a Cool Opt...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
It seems that almost every call and lead I take recently, is about a Short Sale.  They truly are the best "deal" to be had in the Coachella Valley in the current market.Education has always been a huge part of my real estate business.  When times were fabulous in 2004 to 2007, there was still a tremendous amount of information about our local municipalities, cities, lenders, demographics and builders that Buyers and Sellers had to be aware of.Now, it's Short Sales and REO's, and I believe this trend will continue through 2012 in my desert communities.  So, today we're going to look at the "perfect" Short Sale Buyer.."Short Sale Perfection: "Buyer"1.  NOT in a hurry to move in.  A Short Sale Buyer must realize that the reason the price is low is because the process is slow!2.  Cash.  Thi...
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
    Art + Wine = Fun in Old Town La Quinta! 1st Tuesday of Each Month All Summer! Presented by La Quinta Arts Foundation come enjoy a series of artists at Old Town Cellar throughout the summer months while sipping your favorite wine! Tuesday, June 1st – 5pm to 7pm Artist: Rebecca Molayem, Painter Wine: Zaca Mesa Winery Nibbles: Old Town Cellar Tuesday, July 6th – 5pm to 7pm Artist: Robert Ferguson, Painter Wine: Ferrari Carano Winery Nibbles: Cool Options Gelato Tuesday, August 3rd – 5pm to 7pm Artists: Ric & Tim Vigallon, Metal Sculpture & Bart Aldrich, Photographer Wine: Bennett Lane Winery Nibbles: TKB Bakery & Deli Tuesday, September 7th – 5pm to 7pm Artists: Joanne Casey, Mixed Media & Leslee Adams, Painter Wine: Rutherford Ranch Winery Nibbles: Hogs Breath Inn For further informa...
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By Lori Bowers, The Lori Bowers Group
Make your Pet a King or Queen for the day! $10 entry fee per photo !  All money will be donated to K>A>S>E (Keeping Animals Safe EveryDay)  A non profit organization giving animals a chance at life and love right here in The Coachella Valley. PRIZES FOR THE WINNERS IN THE FOLLOWING CATEGORIES: DOGS: 2 categories                         BEST PUREBRED DOG BEST MIXED BREED BEST COSTUME MOST CREATIVE PHOTO UGLIEST DOG CATS:   PUREBRED CAT UGLIEST CAT FATTEST CAT BEST MIXED BREED MOST CREATIVE PHOTO   PRIZES: 1ST PLACE TROPHIES 2ND PLACE METALS   ENTRIES ACCEPTED JUNE 15 THROUGH JULY 15, 2010 SEND PHOTOS TO: 78065 MAIN ST, SUITE 107 LA QUINTA, CA 92253 SPONSERED BY THE LORI BOWER GROUP PARADISE PROPERTIES PROCEEDS DONATED TO KASE (KEEPING ANIMALS SAFE EVERYDA Y) PLEASE MAKE CHECKS PA YABLE T...
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
Best Old Town Happy Hour Specials     Devane's - Happy Hour from 3 p.m. to 6 p.m. daily, featuring half-off bar menu items, house wines and well drinks. 760-771-5330  www.devanesoldtown.comHog's Breath Inn­  -  Happy Hour in the bar runs from 3:30 p.m. to close daily featuring 50% off the bar menu food. Plus, enjoy $9.95 lunch entrees all summer long!  760-564-5556  www.hogsbreathinnlaquinta.com Old Town Cellar & Wine Bar - Happy Hour Monday through Saturday from 3 p.m. to close with 12 food and wine specials that are all $6 each. 760-771-8950  www.oldtowncellar.comViva! Cantina & Grill­   -   Happy Hour daily in the Cantina from 3 p.m. to 6 p.m. featuring $1 off all bottled beer, half-price glasses of house wine, $2 off specialty cocktails and margaritas, $1.95 Carne Asada Tacos, $3.95...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Renting a home in the Coachella Valley.  The following is from the LA Times Money & Co.  I like to see what they are saying about local real estate because LA is not local.  However, as far as rentals go, they are correct.  Rents have fallen in La Quinta, Rancho Mirage, Palm Desert, Indio and Coachella.  So many people have strategically defaulted on their homes and decided to rent while repairing their credit.  There are still, however, many vacancies and that is causing prices to drop.  In the Eastern Coachella Valley, rents are not only for apartments, but many, many single family homes that have been purchased by investors are being rented.  The new Owners are figuring that a rent that covers all or most of the expenses of owning a home will mean profits in the near future (3-5 year...
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Coachella Valley Sales Numbers per Realty Trac...Here they are City by City.  Palm Springs, Desert Hot Springs, Cat City, Palm Desert, Indian Wells, Rancho Mirage, La Quinta, Indio & Coachella.    Remember that every yearly round up is an average, but these numbers appear to be pretty sharp to me.  Take a look and see what you think..http://tinyurl.com/27xnwv9Heading into a great year here in the Coachella Valley!  Hang on!Kimberley Kelly,  SFR, Land, Ranches & Residential760-285-3578   kjkpolo@earthlink.net
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By Kathy Schowe, La Quinta, California 760-333-8886
(California Lifestyle Realty)
La Quinta's BeerHunter Charity Golf Classic a Huge Success!           The Beerhunter in La Quinta, CA is the best sports bar in the area! Sports fans and alumni groups, come and root for your favorite teams while watching a few of their 46+ TV's including featured games on their large screens. Keep up with all your teams from back home without missing a beat. But they have more than just non-stop sports action. They also have pool tables, trivia games, shuffleboard and other games for both you and your family's enjoyment. Be sure to check out their jukebox to listen to all your favorite songs when all the games are over. Enjoy 75 of their nearly 200 beers from around the world and you can become a member of The Beer Hunter's "Hall of Foam". As a member you will have your name engraved o...
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By Lori Bowers, The Lori Bowers Group
  Home Sales are up! 20% increase in sales in La Quinta  compared to 2009! In February 102 homes sold in La Quinta alone! Overall there is a 9.4% increase in home sales throughout the Coachella Valley, which is better then a decrease.  Other Coachella Cities are also showing more sales for the month of February.  La Quinta                    102 homes sold Desert Hot Springs    89  homes sold Indian Wells                 19 homes sold Rancho Mirage            42 homes sold Although the numbers are not off the chart, we are showing signs the worm is turning!     I love this kind of news dont you?
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By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Homeowners and Goldman Sachs.  Were YOU affected?  This is a link to a Wall Street Journel article that breaks down the Goldman Sachs mortgage industry "scam".  It sorts out how a home buyer that gets under written for a loan they do not qualify for, or can only qualify for over the short term..literally fall off the home owner cliff..http://tinyurl.com/24wkess  
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