Palm Springs, CA Real Estate News

By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
One of the smartest as well as easiest ways for someone just getting into the real estate market to be in a position to purchase a home is to locate a property that has been foreclosed upon. Most all banks that you talk to would like nothing better to be able to get out from under the responsibilities of insuring a foreclosed home. Banks will very often part with a home that they have foreclosed upon at a huge discount just as long as they can recover enough money to pay off the outstanding loan on the property. There are some very savvy (and many would say lucky) home buyers have been able to purchase foreclosure properties in the Palm Springs Real Estate Market for as much as fifty percent off of their original market value. Most looking for these properties are going to find that th...
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By Charles Dismuke, Palm Springs Mortgage Guy
(Amerifund Lending Group)
A mortgage rate is born from the price of mortgage bonds and nothing else. Not the Federal Funds rate, not the 10 year treasury note, and nothing else, either.But mortgage rate pricing doesn't end there. From the price of mortgage bonds, all we get is the "base mortgage rate".The rates themselves are subject to additional adjustments based on the loan's inherent risk factors.Some of these risk-based adjustments are well-known by us in the mortgage profession.- Occupancy Type:- Credit Score- Available equity or LTVOther adjustments may not be as well known to borrowers and these are the adjustments that can put homeowners into costly mortgage planning mistakes.The most ignored interest rate adjustment truns out to be a fairly easy one to manage...It's the mortgage rate lock commitment pe...
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By Charles Dismuke, Palm Springs Mortgage Guy
(Amerifund Lending Group)
Canadians and other "Foreign Nationals" are sweeping up American property like crazy. This is happening mainly because the value of the American dollar has been in a constant freefall lately.According to x-rate.com, a property selling for $300,000 American dollars would equal less than $200,000 Euros.                                                 Why in today's tightened credit market would banks be willing to lend to Foreigners? Well, for starters, they don't always have to. In the Palm Springs mortgage market where I am at, they are paying cold hard cash for homes! But for the people they do lend to it seems that foreigners are showing to have- Strong, consistent income- Are willing to make the large down payment necessary for financing, up to 30%- Have plenty of assets and reserves...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
As of March 1, 2008, there are currently 222 condos available for sale, under $200,000; and 270 single family homes under $300,000  in the Palm Springs/Cathedral City markets. Palm Springs has a higher concentration of condos in this price range: 157 Cathedral City has a  higher concentration of single family homes in this price range: 209  The Palm Springs market is definately affordable again.  Great for investors too that can now buy properties  where rents will cover their mortgages and some may even have positive cash flow.  
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
Palm Springs airport landscape architect fights adding native plantsStefanie Frith • The Desert Sun • February 29, 2008PALM SPRINGS - At a time when homeowners, businesses and cities across the valley are looking to conserve water by converting green space to desert landscapes, some at the Palm Springs International Airport are pushing back.The use of grass and flowers versus desert plants - a mid-century modern aesthetic versus a tropical vibe - is at the heart of an emotional debate over a plan to renovate the landscaping inside the airport.On Wednesday, the airport's landscape architect choked up when he presented his vision for the airport's outdoor lobby during the Planning Commission meeting."People like color, fragrance and grass," said Michael Buccino, pausing for a moment to ca...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
We spent the weekend researching the best REO properties available in the north Cathedral City neighborhoods of Tapestry, Rio Vista and Century Park to be included on our next REO tour.  Its amazing what special values are out there right now: Highlights:  3 bedroom 2 bath home with pool - $239,000                  4 bedroom 2 bath home for $229,000                  4 bedroom 2 bath home on a cul-de-sac, amazing views, huge pool sized yard, close to Century Park  $299,000                   2 bedroom + den, great room plan, direct west mountain views, center island kitchen, 12' ceiling,  built in 2002  $259,000 (similar homes in this development previous sold for over $400,000 not long ago)   Plenty of others out there.  Great opportunity for first time buyers and investors.  4 bedrooms ...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
We're now taking reservations for our March 15th Repo Caravan tour on March 15th.  This tour will focus on single family homes in the Cathedral City area, from the low $200's +  We've sorted through all the listings currently available and have chosen the best properties to be featured on this tour. We're happy to help our cients with personalized one on one tours of REO Properties.  Please contact Pau for more information.  Great deals out there!
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By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
EXTRA, EXTRA, READ ALL ABOUT IT!!!We all know bad news sells newspapers.  Whether it is the latest celebrity going to rehab or the Dow dropping 150 points, we are fixated on the bad.  For the last year, we have been inundated by the media on how terrible the real estate market is across the country.  We all have to remember that real estate market is local, and that was is happening in Michigan is not necessarily happening in Palm Springs.   It drives me crazy when publications like the Desert Sun will report in bold headlines, "The Palm Springs Real Estate Market Continues Downward Spiral", but in small print on page 6, "home sales up for the month of December".During my research in the Palm Springs MLS for the January 2008 home sales report, I found a silver lining: Median Home Price ...
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By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
The desert surrounding Palm Springs is not only known for it's high temperatures, dry air and spacious quality, but also for the shocking beauty of the desert life.  For those of you that have not taken the time to view the desert life as it displays itself during each season, then you need to pay a visit to the Moorten Botanical Gardens where you will find yourself immersed in the beauty of the hidden desert life and you can find out for yourself exactly why it is that so many people have chosen to make it their home. Proudly claiming to be a "living museum", this magical location provides the average visitor with enough information to understand and recognize the beauty of the desert, with a twist -- Moorten gives you a view of the desert life, re-invented.  With so many paths to cho...
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By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
 Energy Saving TipsAs consumers we have always been looking for ways to be more environmentallyfriendly as well as save energy for the sake of saving of our pocketbooks. With energybeing such an expensive commodity, just look at gas prices, we need to be morediligent now in saving energy than we ever have been in the past. Throughout thisreport you will discover the many ways that you can save energy in your home, whichwill directly affect you and how much money you spend each year on energy.According to the U.S. Department of Energy, the average family spends $1,300 per yearon home energy bills. Much of this energy is wasted due to inefficiency in heating, aircondition and ventilation units. Windows often leak conditioned air due to age andolder appliances tend to use much more energy ...
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By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
This situation happened to me a few month's ago:I was driving across town to preview a home in Palm Springs for client, and I was in a hurry to make my appointment. I came to the intersection, but did not make a complete stop. I did what is called a "California stop", looking both ways to make sure there weren't any cars and kept driving. I didn't see the Palm Springs Police car sitting on the side of the road, and he proceeded to pull me over and issue me a citation.After a expressing a few expletives inside my head, I was thinking to myself:Doesn't the Palm Springs Police Dept. have anything else better to do?I have been living in the city of Palm Springs for the last 9 years, but I really did not know anything about the Police Dept., including the name of our Police Chief. So I decid...
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By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
Palm Springs, CA -- Too much of Palm Springs' trademark mid-century modern architecture has been lost in recent years. Even today, development continues to swallow up some of the desert's best buildings. But the recently-renovated Horizon Hotel proves that preservation and development are not necessarily mutually exclusive. In May of 2006 - following a two-year, multi-million-dollar renovation - the 22-room luxury hotel once again opened its doors, thus beginning a new chapter for this legendary desert getaway. When real estate developer Dave Scharf bought the Horizon (originally called L'Horizon) in 2004, it needed more than a little TLC. In the eyes of many developers, it was an ideal "tear-down." For more than 50 years, guests had enjoyed the hotel's privacy - something architect Wi...
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By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
  Following with the over all modern look to Palm Springs comes the Port Lawrence Residences, newly offering a place for those modernists that cannot seem to feel at home in anything less than a true awe inspiring residence.  Port Lawrence  offers a wide variety of living arrangements, from studio lofts to penthouses and nearly everything in between. Only in Palm Springs is the evidence clear that modernism is largely still alive and will be kept that way with the aid of most of the benefactors, founding fathers, and committees that oversee the growth and recording of Palm Springs as it was and as it is now.  These societies and committees, such as the Palm Springs Historical Society and many others keep the culture alive and the memories of what once was, very active even today.  They ...
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By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
 The Palm Springs Food & Wine Festival, a benefit for the Culinary Institute of America's Endowed Scholarship Fund is presented by Wells Fargo and will be one of the most prestigious food and wine festivals in Southern California. Located at the Spa Resort Casino in downtown Palm Springs, this event will be uniquely educational in focus showcasing Palm Springs as a culinary destination. This Festival is the only one of its kind on the West Coast as it benefits the premier culinary school in America, the Culinary Institute of America.  Locally, the Festival also benefits the Desert AIDS Project whose mission is to provide crucial services for those with HIV & AIDS.  In the spirit of these two organizations and their mission of education, the Festival and all of its partners will have edu...
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By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
The Kaufmann House in Palm Springs is one the most architecturally significant modern homes in the United States. Yesterday, the city of Palm Springs, the Palm Springs Modern Committee, and the Palm Springs Preservation Foundation designated the Kaufmann House as a Class One historical site. The home was designed by Richard Neutrain 1946, but the home came into prominence due to the photography of Julius Shulman.Julius Shulman is a American architectural photographer whose works captured the California mid-century modernism movement and introduced it to the world.Starting today, the works of Julius Shulman will be on exhibition at the Palm Springs Art Museum, in conjunction with Modernism Week. Modernism Week is the annual collaboration between the Modernism Show, Palm Springs Preservat...
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By Paul Kaplan, Mid Century/Modern homes in Palm Springs - www.Pau
(The Paul Kaplan Group, Inc)
This Saturday will be the first Certified Farmers Market in Palm Springs.  This will be a weekly event.Located next to the Camelot Theatres, at the corner of Farrell and Barristo, across from the Palm Springs High School.  8:00 to 12:30.Should be a great opportunity to pick up locally grown fresh fruits and veggies!  Their will be entertainment too!Please come on down and support our local produce providers and the Farmer's Market! http://www.localharvest.org/farmers-markets/M19978    
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By Harold Watts, Palm Springs Real Estate Blog
(Teles Properties)
 One of the perceptions that many people have about REALTORS is that all we do is show a few homes, write an offer, then collect a big commission check.   That's it, end of story.  For me, and my fellow REALTORS, it is so much more than that.I have been selling real estate since 1999, and have always tried to maintain high standards  for myself and  my chosen profession of Real Estate. Since the beginning I have always believed in giving back to the community that has given me so much. This year, I joined the Special Events committee of the Palm Springs Regional Association of Realtors.  This committee plans the events for the year to raise money for the various community charities that we give to.  Our first event for the season is the Annual Valentine's Day cake auction.Every year, we...
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By Charles Dismuke, Palm Springs Mortgage Guy
(Amerifund Lending Group)
I am a Palm Springs Mortgage Guy and I recently had a client story that I would like to share with all. I think this will enlighten those that may believe that "Loan Modification" cant happen. My clients were on their way to being 60 days late on their mortgage payment. There payment adjusted up $800 from $2200 to $3000. They called me stressed out and ready to give up. I told them that they should call their mortgage company and see what options were available to them. They were nervous, scared and didnt want to make the call. I offered to do a conference call with them. The rep was kind and patient with us. They asked why the homeowner was in their current situation and they answered truthfully. The husband commission job wasnt producing the income he normally received. The rep procee...
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By Elaine Stewart, RE/MAX Desert Properties
(Elaine Stewart is the #1 Individual RE/MAX Agent for 11 years straight in the Coachella Valley. (760) 668-2399 )
Palm Springs is a truly unique city, the location for some of the most amazing activities and demonstrations.  The weather is mostly balmy and year round decent.  This of course, draws many people from all over to experience the natural habitat by hiking in Palm Springs.  Whether you are a beginner or a seasoned veteran of hiking, there are some important safety tips and facts you should be aware of before you visit one of the numerous hiking trails located in and around Palm Springs.  For views of some of the most awe inspiring landscape you have to visit the Araby Trail for a terrific hike that has one of it's entrances near the home of Bob Hope.  With a moderate level of difficulty and stretching 1.6 miles, the Araby Trail gives you a spacious view of the Coachella Valley once you r...
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