The super-luxury segment of the Coachella Valley market - estate properties priced $2.51-$9.0 million - is selling at exactly the same pace this year as last. The good news is that the price per square foot in this market segment has increased by 11% over the same period in 2009. Similar to luxury home sales, about 89% of super-luxury properties sell in all-cash transactions.

Our two favorite words in these all-cash deals? "Wire Transfer!"

Want to look at (or talk about) Palm Springs real estate? Call Scott + Jim at 760.567.1550.

The Coachella Valley - the low desert region around Palm Springs in Southern California - has a substantial luxury market comprised of homes priced between $1.5 and $2.5 million.

The Desert Area MLS reports that this segment of the market experienced a year-over-year 49% increase in sales Valley-wide, January-June. Some 87% of these luxury-segment properties sell in all-cash transactions!

To see printed reports from the Desert Area MLS, or to talk about selling or purchasing a luxury property, give us a call at 760.567.1550.

Are you ready for some good news? We have it! What we call "entry level" homes here in Southern California's Coachella Valley - those priced $500,000 and below - are selling at a brisk pace. Our Windermere office is processing about 500 escrows a month compared to 200-300 during the same period in 2009.

Foreclosures and Short Sales are down substantially year-over-year. While they continue to apply some downward pressure on prices, they're having less of an effect than last year and prices seem to have stabilized in the last two months. Some bank-owned properties - in better neighborhoods, well-maintained and presented - are selling quickly in multiple offers.

In some areas, especially in the most desirable country club developments, prices have begun to INCREASE a few percentage points in the last three months!

Homes that have quality finishes, make a good first impression and, most importantly, are priced correctly for their market are seeing faster offers and selling well.

Whether you're selling or buying, if you're looking for an edge on the competition, call us! We are the Coachella Valley real estate experts. 760.567.1550.

Talking about the current market outlook, California Association of Realtors® President Steve Goddard recently commented, "Mortgage interest rates continue to hover near their historic lows, and many buyers are out in force to take advantage of the combination of low interest rates and affordably priced homes. It's an ideal time for many families to purchase their first home even though they may face stiff competition."

If you're looking for a way to get an edge on the competition, call us! We are the Coachella Valley real estate experts. 760.567.1550

Whatever your portfolio, whatever your equity, the past couple of years have been economically nasty. Now-at last!-there's a dribble of good news: Bloomberg News reports today that lenders can be expected to loosen the purse-strings on home-equity loans in 2010.

What that means is homeowners with equity-those who owe less than their property is worth-will be able to bank on their home's value for loan funding. Forecasters predict that those who seek such loans will forego the luxury spending of the recent past in favor of renovations and other practical expenditures. They also predict that lenders remain extremely cautious, and even those with outstanding credit and tremendous equity may have to shop around.

For those smart enough to invest in the Coachella Valley real estate market-Palm Springs, Palm Desert, La Quinta, Rancho Mirage and Indian Wells-there's more good news: our market is bustling with buyers eager to find a second or third home, a romantic pied-à-terre or an all-amenities condo on the 7th green.

If you're thinking of selling or buying, or just curious about our desert communities we would be happy to show you around, introduce you to the desert lifestyle and answer your questions about real estate. We are your Palm Springs Realtors, so give us a call today at 760-567-1550.

In real estate, knowledge is power. Let us put our knowledge of Palm Springs and the Valley to work for you!

Whether you enjoy the fashion shows, the champagne, the shopping, the exhibits or just all those really, really stunning models, Fashion Week El Paseo is the place to get your gorgeous on!

From March 20 through March 28, Palm Desert-always style-savvy-turns into fashion central with a packed event schedule that includes everything from trunk shows to a bachelor auction! For those with a real taste for fashion, this year's Fashion Week dresses up with two days of culinary events featuring a delicious line-up of celebrity chefs.

You can find lots of details, photos and ticket information at www.fashionweekelpaseo.com.

If you're curious about Palm Desert, check out our Palm Desert page. Palm Desert real estate is as hot as next season's fashion right now, and of course we'd be happy to take you on a tour of Palm Desert homes or condos for sale. We are your Palm Desert Realtors, so give us a call today at 760-567-1550.

Don't forget: In real estate, knowledge is power. Let us put our knowledge of Palm Desert to work for you!

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!

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.