[...]

Despite the increase in foreclosure activity, there are still fewer distressed sales of homes when compared to a year ago.  Most recent statistics show that 51% of the sales were Bank Owned or Short Sales.  This is DOWN 8% from a year ago.  What this means is distressed properties are beginning to comprise a smaller percent of our sales indicating our real estate market prices are slowly stabilizing. With the FED indicating interest rates will continue to be low until 2014, prices at decade level lows, and an extremely low inventory of existing homes (down approximately 50% from two years ago), our market is expected to continue to have strong sales figures.

Bargain hunters continue to scour our markets for great deals.  The Coachella Valley real estate market is bucking the downward trend in sales in a large number of other markets throughout the country. My message to each of you reading this today is: “NOW Is The Time to BUY!!!”

If you have any additional questions, please contact me at www.ScottandJimHomes.com.

“Remember, in Real Estate, Knowledge is Power!”

[...]

LA QUINTA, Calif. -- President William J. Clinton, the 42nd President of the United States, will play in a foursome that includes Humana Chairman and CEO Mike McCallister, World Golf Hall of Famer, former World No. 1 and two-time British Open champion Greg Norman, and La Quinta resident and three-time PGA TOUR winner Scott McCarron during Saturday's third round of the Humana Challenge. The group will begin on the first tee at the Palmer Private Course at PGA West at 10:20 a.m. local time (1:20 p.m. ET).

President Clinton was the keynote speaker at Tuesday's national health and well-being conference -- Health Matters: Activating Wellness in Every Generation -- hosted by the Clinton Foundation in Indian Wells, Calif. President Clinton played in the tournament's first round in 1995 with Bob Hope, Presidents George H. W. Bush and Gerald Ford, and Scott Hoch.

The Humana Challenge in partnership with the Clinton Foundation tees off on Thursday with leading professionals in the field such as four-time major winner Phil Mickelson, World No. 8 Dustin Johnson, World No. 11 Matt Kuchar and 2011 FedExCup champion Bill Haas. The event's celebrity field is headlined by musicians Smokey Robinson, Alice Cooper and Michael Bolton; actors Morgan Freeman, Don Cheadle, Craig T. Nelson, Billy Crudup and Lucas Black; and basketball Hall of Famer Julius Erving.

Humana Challenge tickets, beginning at $25, can be purchased online at www.humanachallenge.com, by calling 1-888-672-4673, by visiting Lumpy's in La Quinta and Rancho Mirage, or by visiting Albertson's grocery stores in the Coachella Valley.

The Humana Challenge is played at La Quinta Country Club and the Palmer and Nicklaus Private Courses at PGA WEST, and airs live on Golf Channel (12-3 p.m. PST on Jan. 19-20; 1-4 p.m. PST on Jan. 21-22). Its $5.6 million purse and $1.008 million winner's check are the largest in event history.

During the past 52 years, the event has generated more than $50 million in donations to the Eisenhower Medical Center and charities within the Coachella Valley.

[...]

Most of our clients continue to ask our team – How Is The Market?  The real estate market in Palm Springs, Rancho Mirage, Palm Desert, Indian Wells and La Quinta is currently on fire.  Buyers and investors are out aggressively shopping for deals in our real estate market.  Our market activity feels like 2004/2005 with one exception.  Prices are low and interest rates are low.  While Riverside County sales are down 7.3% from a year ago, the Coachella Valley sales are up 1.9%.  We are bucking the national trend of decreasing sales volume for the past several months.

Let me be more specific.  Our current desert real estate prices are back to 1999 -2001 levels, depending on the neighborhood.  Interest rates are at the lowest levels in recorded history.  A conventional loan is less than 4%.  With historic interest rates and decade low prices, buyers are purchasing properties in large numbers.  Remember, there is typically an inverse relationship between interest rates and real estate prices.  That is NOT what we are experiencing in this current market.  Buyers who purchase today are positioning themselves to create significant real estate wealth for the long term.

My message to each of you reading this is simple.  NOW IS THE TIME TO BUY REAL ESTATE IN THE COACHELLA VALLEY.  Remember, Warren Buffet’s approach to investments.  Do the opposite of what everyone else is doing.

“Remember, in Real Estate, Knowledge is Power”

[...]

The economic downturn and recurring Sacramento takeaways of local funds have dramatically impacted Palm Springs’ ability to fund critical programs and projects. Over the last decade the State of California has taken millions from Palm Springs in attempts to address the State’s budget problems.

In today’s tough economy, without additional revenue, the City of Palm Springs will be unable to fully support our community’s needs. The City of Palm Springs has a backlog of projects which are not able to be funded with current revenues including:

• Street Repair and Maintenance
• Revitalizing the Downtown including the Desert Fashion Plaza
• Improving our Parks, Trails, Bikeways, and Tahquitz Creek
• Supporting College of the Desert’s West Valley Campus Neighborhood Improvements
• Improving and expanding the Palm Springs Library

What is Measure J and who pays for Measure J?

After extensive public discussion and community input, Measure J was unanimously placed on the November 8, 2011 ballot by the Palm Springs City Council to provide a source of local revenue for essential services and projects.  Measure J would add one penny to each dollar spent in Palm Springs by both residents and visitors. This means that for every dollar of each purchase you will be asked to pay another penny specifically to be used locally for Palm Springs.  Measure J is not a tax on property owners and none of Measure’s J’s proceeds can be taken by Sacramento. . It would generate $200 million during the next 25 years for use on local capital projects including the city's $43 million contribution toward the revitalization of the Desert Fashion Plaza, located in downtown Palm Springs.

Scott + Jim Homes strongly supports Measure J as we believe it to be a common sense plan to take back our city, and to provide critical funds to a progressive vision to revitalize our beautiful city for our future.  Vote YES on Measure J on November 8^th, 2011.

[...]