haiti 15 Jan 2010 12:00 AM
Haiti - How Can We Help? by Scott_Palermo+Jim_Sanak Comment (0)
Haiti has been devastated by earthquakes. The media reports are heartbreaking. Thousands of miles away, we feel helpless. What can we do?

The most valuable contribution you can make is CASH. When you make a monetary donation to a charity, they put your money exactly where it is needed the most.

Make your contribution to an organization that is already established in the region and that will get the largest portion of every donated dollar to the people who need it - direct services rather than administrative or fundraising costs. To see how the charities measure up, visit Charity Navigator at www.charitynavigator.org.

If you have unique skills, adequate training and disaster-related experience - search and rescue, emergency medicine, etc. - and can provide direct help, don't just set out on your own. Volunteer through established organizations. Expect very, very difficult living and working conditions, long hours and hard, heartbreaking work.

If you have a warehouse full of blue tarps, bottled water or other essential resources appropriate to the region and the disaster, make your in-kind donations through an organization that is set up to handle large-scale shipments on a timely basis.

Resist the impulse to send clothes, blankets, household goods, etc. While the need to make a difference is laudable, donated items have to be sorted, cleaned and shipped, all at considerable cost - with funds that could be used more effectively elsewhere.

Instead of boxing up those supplies, have a garage sale or collect donations in your community and send the resulting money through one of the established charities.

Beware of scams. Disasters often bring out the best in people, but, unfortunately, they also bring out the worst. There are scammers eager to profit from Haiti's pain. They work individually and in groups, door-to-door, on the phone, by e-mail and on the Internet. To benefit the cause - and to protect your privacy! -- always do your homework before making a donation.

Thank you for your concern and your generosity. Our business is real estate in the Coachella Valley, but our concern is for human well being. Give us a call today at 760-567-1550. In real estate, as in life, knowledge is power!

palm springs real estatepalm springs international film festival 12 Jan 2010 12:00 AM
Now playing! by Scott_Palermo+Jim_Sanak Comment (0)
Palm Springs is always pretty wonderful in the winter, but it's just bustling right now. The Palm Springs International Film Festival is in full swing (January 5-18, 2010) and half of Hollywood is here. The town is rocking, restaurants and hotels are packed, screenings are sold out and there is a real buzz in this little village of fabulousness. Did you know that the Festival ranks in the Top Three Film Festivals in the WORLD?! True, right up there with Cannes and Sundance.

Palm Springs is home to a thriving film society with a year-round program of screenings and special events in addition to this month's Festival and the ever-popular "Shortfest" in June. To learn more, check out the Palm Springs International Film Society site at www.psfilmfest.org.

Meanwhile, as if things weren't lively enough, the real estate market in the Coachella Valley is on fire! Homes are selling very quickly and we're seeing more going into multiple offers. Buyers are moving on homes that are priced well and staged well, especially when the property is a great value for the neighborhood. The sales per month have been trending upward since May 2009. Based on our Windermere office meetings, we believe the Coachella Valley may be experiencing the beginning of a real estate recovery.

If a move in Palm Springs, Palm Desert, Rancho Mirage, La Quinta or Indian Wells is on your 2010 wish list, give us a call today at 760-567-1550. And remember, in real estate, knowledge is power!

Untagged  11 Jan 2010 12:00 AM
Energized! by Scott_Palermo+Jim_Sanak Comment (1)

As Coachella Valley residents, we're always looking for ways to make the most of our resources -- and yours. With the desert's dramatic daily and seasonal variations in temperature, regulating your home's interior climate makes you more comfortable AND saves you money.

Now for the good news: the federal government agrees, and they're offering tax credits when you make changes to your energy systems.

Here's a quick overview:

1) For energy improvements to an existing home/principal residence (no rentals; no new construction) made between now and December 31, 2010, a rebate of 30 percent of the cost up to $1,500 may be available for heating/ventilating/air conditioning systems; insulation; biomass stoves; qualified metal or asphalt roof products; water heaters; and storm windows and doors.

2) For energy improvements to an existing/new principal or second home (no rentals) made between now and December 31, 2016, a tax credit of 30 percent of the cost, with no upper limit, is available for geothermal heat pumps, small wind turbines, and solar energy systems.

3) For energy improvements to an existing/new principal residence (no rentals or second homes) now through December 31, 2016, a tax credit of 30 percent of the cost, up to $500 per .5 kW of power capacity, is available for residential fuel cell and microturbine system installations.

To learn the specifics and to find additional information about appliance rebates, visit the Energy Star website at www.energystar.gov and click on "Tax Credits for Energy Efficiency" toward the bottom of the page.

To learn more about real estate in the Coachella Valley, give us a call today at 760-567-1550. And remember, in real estate, knowledge is power!

palm springs real estatepalm desert real estate 4 Jan 2010 12:00 AM
How is the Coachella Valley real estate market different? by Scott_Palermo+Jim_Sanak Comment (0)
Selling real estate in today's marketplace means having a powerful referral network-local (for specialized properties, such as commercial), regional, state, national and even international. Naturally, as we exchange clients and referrals, we also exchange news, information-and, yes, gossip!

One of the things we keep hearing from agents in other areas is what a huge impact stimulus funds-the $8,000 first-time buyer tax credit-have had on their sales numbers. But not here! In the Coachella Valley, only about 5 to 10% of our buyers fall into this category.

In fact, most Valley buyers are affluent consumers with top-tier credit scores and plenty of cash or other assets. Most have already owned one or more homes. They come here to shop for a second, third or fourth residence because they CAN and WANT TO. Some 60% of our buyers come from out of the area and most are friends or associates of a local homeowner. Typically, buyers visit our desert valley a few times, stay with their friends and then realize they love the lifestyle and want to purchase a residence of their own.

If you're ready to stop being a houseguest and start being a desert homeowner, give us a call today at 760-567-1550. And remember, in real estate, knowledge is power!

P.S.: By the way, there is now a $6,500 federal tax credit for "move-up" home buyers who close escrow between Nov. 6, 2009 and June 30, 2010. Give us a call and we'll explain how it works!

Untagged  1 Jan 2010 12:00 AM
New Year, with Gratitude by Scott_Palermo+Jim_Sanak Comment (0)
Thanksgiving is old news, the Christmas tree is starting to shed, and maybe, like us, you're feeling happy to have a couple of extra weekend days to recover from your New Year's celebration and to figure out whether to call this new year "twenty-ten" or "two thousand ten."

We would like to begin this year with two very important words: Thank You.

You-our community of clients, colleagues, friends, family, neighbors and even online acquaintances-have helped us sustain our business and our spirits through a challenging market. You have been loyal, have offered us your creative ideas and your referrals and have laughed at our jokes (no truer sign of friendship!). You have helped us see and create opportunity. You have been patient with our human-ness.

For these, and for the many other gifts of your friendship, we are deeply and humbly appreciative. We hope that 2010 will be a year of good health, prosperity and, of course, good humor. Thank you.

Untagged  30 Dec 2009 12:00 AM
Year-end Donations and Investments by Scott_Palermo+Jim_Sanak Comment (0)
So, say that extra "hundred thou" is burning a hole in your portfolio and you're just jumping to offload it before the end of the year... Well, we have a couple of thoughts for you.

As they often do at year's-end, the IRS has issued a few taxpayer reminders regarding charitable contributions. In particular, the "Special Charitable Contributions for Certain IRA Owners" says that an IRA owner, age 70½ or older, can directly transfer tax-free up to $100,000 per year to an eligible charity. If that fits your needs, we suggest you talk with your tax advisor. (By the way, if you'd like to know more about how charities allocate donations, check out Charity Navigator .)

For long-term investment, there's really nothing as solid as real estate, and, as we've mentioned, Coachella Valley real estate is heating up, so this is a fantastic time to buy (or sell!). Whether you're looking for a full-time desert home or second or third residence for yourself, investing in rental property or purchasing a home for a family member, you can get a jump on the buying season by beginning your search this week.

We know the Coachella Valley and we're committed to helping you get the most for your property investment. Give us a call today at 760-567-1550. And remember, in real estate, knowledge is power! Happy New Year!

Untagged  28 Dec 2009 12:00 AM
So, what’s the hot market? by Scott_Palermo+Jim_Sanak Comment (0)
The hottest of the hot for the Coachella Valley is homes and condos in the $500,000-and-below range. In fact, according to the MLS, they account for more than 88% of the market. The super-luxury properties-those priced at $1 million or more-account for less than 3% of the market, but as sales activity increases generally, we're seeing more action in the top tier as well.

And where are your new neighbors coming from? Well, of course, there are always people relocating within our beautiful desert communities-Palm Springs, Palm Desert, Rancho Mirage, La Quinta and Indian Wells-but many of our buyers are coming from other parts of the U.S., especially the Northwest. Plus, a huge number of sun-seekers are taking advantage of the exchange rate and cashing in their Canadian dollars for a house or condo in the Coachella Valley.

Wherever you're coming from-or going-we're ready to help you meet your real estate goals. We have great connections, tremendous knowledge and the negotiating skill to get you the most in your transaction. Give us a call today at 760-567-1550. And remember, in real estate, knowledge is power!
Untagged  24 Dec 2009 12:00 AM
Zooming into the hoidays! by Scott_Palermo+Jim_Sanak Comment (0)
There's one question on everyone's mind. Surprisingly, it's not "What's Santa going to bring me?" It's "What's the latest in the real estate market?"

Well, we have the answer, and it's just about as good as anything Santa's got to offer: for the first time in a long, long time, the market is building momentum. Starting just about a week before Thanksgiving, the Coachella Valley lit up with more than holiday lights. The buyers are here! They're serious and they're ready to make decisions.

We're seeing a lot of buyers who are tired of waiting for the market to reach some magical "bottom." Prices are excellent, there's a good selection of properties available and buyers are coming in with good credit and good cash reserves. And believe us-they're not dragging their feet!

We just closed a 14-day, all-cash deal with SEVEN offers! We haven't seen that kind of aggressive interest for at least three or four years!

If you're thinking of selling, the time is now! If you're thinking of buying, the time is now! We have the knowledge, skills and savvy to help you get what you want in Coachella Valley real estate, so give us a call today at 760-567-1550. And remember, in real estate, knowledge is power!

palm springs real estatepalm desert real estate 26 Oct 2009 12:00 AM
The Desert is On Sale! by Scott_Palermo+Jim_Sanak Comment (0)
Over the years, many of our friends, family members and clients have repeatedly asked us to let them know when the timing is right to buy real estate. You know, like when the opportunity is so apparent that we should be letting them know by ringing a big bell or flashing a bright light to sound the alarm. Well friends, Ring, Ring, Ring. WE BELIEVE NOW IS THE TIME TO BUY REAL ESTATE IN THE PALM SPRINGS AREA. In fact, there has not been a better time to buy in almost a decade.

Why? Prices are at 2001 levels and there is a good inventory to choose from. Overall, sales in the desert of homes priced at $600K and below continue to do very well, and now the above $600K is seeing improved signs of sales movement. Mortgage rates are still at historic low levels. We are currently experiencing a record level of sales transactions in the desert market. Many of our clients from around the country are moving quickly today to purchase their desert home for next season. Please call us to discuss your real estate needs or your next desert investment.

Untagged  26 Oct 2009 12:00 AM
Desert Home Sales Improve by Scott_Palermo+Jim_Sanak Comment (0)
In an on-going effort to keep our clients and associates updated on the Palm Springs and surrounding desert area real estate market and trends.

Home Prices Stabilizing, Sales Spiking In 2nd Quarter, Desert Realtors Say

John Hussar/PRNewsWorks • Reader Submitted • July 24, 2009, The Desert Sun

PALM DESERT (Calif.) - Coachella Valley home sales rose to 2,898 in the second quarter, up from 2,010 in first quarter with an average sales price of $257,427, the California Desert Association of REALTORS reported today.

"The trend we are seeing is that prices are stabilizing and sales are spiking so buyers are getting the message that this is not a time to linger if they are in the hunt to buy a home," said Greg Berkemer, executive director of the California Desert Association of REALTORS. "There was a slight tick up of the average sales price in the 2nd quarter and people are starting to notice that."

The Multiple Listing Service data analysis from Real Data Strategies, also showed that the average seller got 97 percent of the price the home sold for but 85 percent of the original asking price, Berkemer said.

The analysis also indicated that 89 percent of all home sold from July 1, 2008 through June 30, 2009, were purchased for under $500,000 while 6 percent of sales were in the $500,000 to $749,000 range, 2 percent in the $750,000 to $999,999 range and 3 percent were more than $1 million.

Desert Hot Springs led other Coachella Valley with most homes sold at 1,123 from July 1,2008 to June 30,2009, according to the Real Data Strategies, followed by La Quinta at 1,014; Indio (92201), 998; Cathedral City, 886; Palm Springs (92262), 698; Palm Desert (92211), 575; Indio (92203); Coachella, 524; Palm Springs (92264), 485; Rancho Mirage, 447; Palm Desert (92260), 440; Yucca Valley, 219; Salton City, 168; and Thermal, 165. Thousand Palms had the lowest number of sales for the same time period at 107 while Indian Wells weighed in at 129 home sales.

The Desert Area Multiple Listing Service (MLS) is the real estate industry's consumer-oriented standard for existing and some new home sales throughout the Coachella Valley and high desert.

The California Desert Association of REALTORS, The Voice for Real Estate for the Coachella Valley, represents more than 3,500 real estate professionals from Palm Springs to Coachella.

Scott Palermo + Jim Sanak
Scott Palerm Scott Palermo + Jim Sanak specialize in listing and selling real estate.
They work in the communities of Palm Springs, Rancho Mirage, Palm Desert, and the entire Coachella Valley.

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