May, 2014 Sales Analysis

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta from January, 2008 through May, 2014.

The inventory of “Active Listings” in the Coachella Valley decreased from April to May which is usual as we approach the summer season. The number of Sold units decreased significantly over the same period last year (May, 2013) which was the best month since 2008. The main reason is that the inventory has decreased in April and May. The pace at which real estate prices increased in the October to January period seemed to slow to a more normal rate in February through May. The price rise slowed as did the home sales. The activity in the million dollar+ market seems to have picked up but prices have not increased as much as they have for the under a million homes.allunitssold5-14

 

golfunitssold5-14

 

All-PSQFT5-14

 

Golf-PSqFt5-14

 

Below is the chart depicting the “bubble” in sales versus the historical 4.5% annual appreciation. As predicted by the National Association of Realtors back in 2005. It will be interesting to see how close the actual sales prices stay to the “Normal Appreciation” line in the coming months. One of the reasons for the recent price increases is that we have seen more American buyers in the market than in the past few years which is a sign that our economic outlook seems to be improving.

Bubble5-14

 

Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year

All

LQ Golf Course

2002

1,356

259

2003

1,572

640

2004

1,938

785

2005

1,563

638

2006

1,118

483

2007

  942

444

2008

1,076

405

2009

1,202

409

2010

1,360

518

2011

1,446

510

2012

1,532

587

2013

1537

567

2014 YTD

650

335

* Remember that the sales numbers represent “Closed” escrows. Since the average escrow is between 45 and 60 days, the decision to purchase the homes that closed in June was probably made in March to early April.

For more information about the Coachella Valley Real Estate market, Please call us at (760) 203-2621!
Source: DesertAreaMLS

 

What’s in a Rock? A lot of History!

Driving through the Coachella Valley and the desert in general—if you’re paying attention and not too distracted by whatever you’re listening to—can be like driving through history.

People have been living here for thousands of years and they all have left their distinctive marks on the landscape. To really take a hike back in time, explore the Corn Springs Petroglyph Site sometime when you’re in La Quinta. It’s just a bit further down I-10 and on BLM land.

Point Happy Rock
Point Happy Rock

However, here I wanted to open your eyes to an interesting feature you might not give a second look while you’re driving through La Quinta and Indio. It’s called Point Happy Rock. Highway 111 cuts right through it and it’s where the popular Cliffhouse Restaurant is located.

A route that really rocks!
Today, road engineers tend to plot the course of new highways around rock outcroppings like this. But in the 1930s, when this right of way was originally carved—or blasted—out, the engineers apparently had other priorities.

Often when we drive “through”Point Happy Rock, we think about all the people over the years who have traveled this route. When a road funnels through a narrow slit carved through a massive piece of rock, you know that that specific patch of ground will always be a route for commerce.

Back in the days of the Dust Bowl, some travelers from the Midwest must have rolled through there. Today, visitors and residents of La Quinta and other communities in the Palm Springs area pass through Point Happy Rock on their way to golf courses such as La Quinta Country Club, Rancho La Quinta, Indian Wells Golf Resort, El Dorado Country Club, The Vintage, The Reserve, and many others.

Rancho La Quinta
Rancho La Quinta

Homes with views
Of course, golfer-homeowners in locations like Rancho La Quinta seldom have to hop in their vehicles and head out onto Highway 111 to pursue their favorite sport. Rancho La Quinta offers 36 holes of golf. Another special treat here is its elevated lots that deliver stunning views of the Santa Rosa Mountains.

And if there are non-golfers in your family, the tennis courts, pool and fitness center are great ways to stay fit. I said pool, but I should have said “pools.” However, the main pool at the Racquet Club is the perfect size to put in some laps.

When you drop in to get more details on some of these properties and the various golf options you have, be sure you have our free golf resource guide with you. It gives a great “birds-eye view” of the area. Combine that with one of the local books that talk about desert history, and you’ll really be able to maximize your understanding of this special area.

We hope to see you soon!

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President #44 Plays 9 Holes

Thunderbird Country Club in Rancho Mirage is certainly accustomed to taking care of high profile guests, but none get any higher profile than the President of the United States, and that’s what happened recently when Barack Obama was in town.

Thunderbird Country Club
Thunderbird Country Club

President Obama’s love of golf is well known—we hear that he’s somewhere around a 16-18 handicap—so it shouldn’t be any surprise that Air Force One is seen occasionally at Palm Springs International. Reports we saw said he played nine holes of golf at Porcupine Creek, Oracle founder Larry Ellison’s place in Rancho Mirage.

The Valley of the Presidents
I wonder if any single valley in the country has had as many presidential visits and homes as our area. President Eisenhower is, of course, one of our most famous aficionados, but he wasn’t the first to discover the area. Herbert Hoover was here in 1936 and FDR was in La Quinta before WWII. And after his years in the White House, Gerald Ford settled in the area.

La Quinta Resort
La Quinta Resort

And that actually brings me to my topic: Publications like Variety have speculated that President Obama was actually checking out property when he was here with the First Lady. I suspect that if the president does decide to buy a home here, one of his main reasons would be similar to what motivates many of our residents: the number of great golf courses in the area. (I’m going to have to see if anyone from the White House has downloaded our golf course resource guide…)

While you might not find yourself in a foursome with a former president, you will certainly be in good company when you golf in the La Quinta, Indian Wells or the greater Palm Springs area. And, whether you’re looking for a retirement home, second home or just a great place to live, this is a the place to be. Of course, living on or near a golf course is nirvana for many of our residents.

La Quinta Resort Tennis
La Quinta Resort

The Royal Treatment
Even if you haven’t been the most powerful man in the free world, you’ll find that you’re treated like a king at all the local facilities. When you start to scout real estate here, some of your most difficult decisions will be choosing between communities in places such as the La Quinta Resort, with its three courses (2 public, 1 private at the Citrus), tennis courts, and other fine facilities.

Boasting three courses and some 10 different communities tucked in, around and near the golf courses, there is a lot of variety available. Everything from large custom homes at The Enclave to the La Quinta Resort Spa Villas condos make ideal locations for golfers and anyone looking for an active lifestyle.

There are many other communities I should mention, but I’ll leave them for a future post. For now, let me just point out our free golf resource guide download. Who knows, maybe the president has a copy on his laptop right now, so when you push the download “button” you could be in very good company.

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More than Hawks Soar the Desert Sky

Compared to most regions of Southern California, the Palm Springs area, Coachella Valley—including communities such as La Quinta, Indio and Palm Desert—doesn’t have a very large population.

Parade of Planes in Palm Springs
Parade of Planes in Palm Springs

However, it’s not the quantity of people that make a place to live special, it’s the diversity of the people, and that’s something that makes this place unique. We have world-class events here unlike any other place on earth this size.

Sometimes we have events that no other place on the planet has, period. And I just read about one I’m looking forward to in the fall: the Parade of Planes.

Each year there’s an aviation summit in Palm Springs and as part of the festivities, private pilots fly into the airport there and then parade down East Alejo Road and North Avenida Caballeros to the convention center.

Please drop us a note or make a comment below if you know about any other annual parade where aircraft are the “floats.”

An aviation legacy
The California desert has long been a favorite place for aviators and as well as the international airport in Palm Springs, our area also boasts the Bermuda Dunes Airport, which is very near La Quinta, Indio and Palm Desert, and the Jacqueline Cochran Regional Airport, located just down the highway in Thermal.

Indian Wells Country Club
Indian Wells Country Club

For private aviation buffs, real estate in La Quinta and the neighboring communities can be the ideal location. We haven’t mentioned Indian Wells real estate recently on these pages, but its proximity to the Bermuda Dunes Airport makes it an excellent choice for pilots who also have a penchant for a good round of golf.

The Cove Course at the Indian Wells Country Club was home to the Bob Hope Desert Classic for more than 40 years. A lot of great moments in the game happened on that course. The homes there are just as notable and definitely worth touring when you come to our area.

A Weiskopf course
Also nearby is The Reserve Country Club. The Reserve Country Club course is designed by Tom Weiskopf and Jay Morrish. Weiskopf, with 16 PGA tour wins to his credit, including the 1973 US Open, brings some real cachet to The Reserve.

The Reserve Country Club
The Reserve Country Club

Of course, even if you don’t fly a plane or swing a golf club, there’s still a lot to do when you live in a place like the Indian Wells Country Club or the Reserve Country Club. Pools, spas and fitness gyms are in the mix. And if you visit the Reserve, you’ll see that it backs right up to the Santa Rosa-San Jacinto Mountains. A quick drive up the road will take you to the Randall Henderson Trail if you want to stretch your legs and look for some desert wildlife in its natural habitat.

Okay, have I taken this far enough? I started out talking about an airplane parade and managed to bring it around to trail hiking in the mountains. What more can I include? Oh yeah, I haven’t mentioned our free golf resource guide. Hit that big button and download a copy for yourself.

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Spring 2014 Sales Analysis

Here are the latest sales numbers for all homes sold within the City of La Quinta as well as all Golf Course homes in La Quinta from January, 2008 throughApril, 2014.

The inventory of “Active Listings” in the Coachella Valley increased slightly from January through March but then slowed slightly in April as we approached the end of the “season”. The number of Sold units rose even more making the real estate market in La Quinta move to a normal market status of a 6 month supply. One of the reasons was that although the sales increase in February was lower than expected, the increase in March was higher than expected and fell off slightly in April. The pace at which real estate prices increased in the October to January period seemed to slow to a more normal rate in February and March. The price rise slowed while the home sales increased. The activity in the million dollar+ market seems to have picked up but prices have not increased as much as they have for the under a million homes.

allunitssold4-14

 

golfunitssold4-14

 

All-PSQFT4-14

 

Golf-PSqFt4-14

 

Below is the chart depicting the “bubble” in sales versus the historical 4.5% annual appreciation. As predicted by the National Association of Realtors back in 2005. It will be interesting to see how close the actual sales prices stay to the “Normal Appreciation” line in the coming months. One of the reasons for the recent price increases is that we have seen more American buyers in the market than in the past few years which is a sign that our economic outlook seems to be improving.

Bubble4-14

 

Here are some yearly sales figures (units) for the City of La Quinta from 2002:

Year

All

LQ Golf Course

2002

1,356

259

2003

1,572

640

2004

1,938

785

2005

1,563

638

2006

1,118

483

2007

  942

444

2008

1,076

405

2009

1,202

409

2010

1,360

518

2011

1,446

510

2012

1,532

587

2013

1537

567

2014 YTD

514

262

* Remember that the sales numbers represent “Closed” escrows. Since the average escrow is between 45 and 60 days, the decision to purchase the homes that closed in June was probably made in March to early April.

For more information about the Coachella Valley Real Estate market, Please call us at (760) 203-2621!
Source: DesertAreaMLS
CATEGORIES: BUSINESS OF REAL ESTATE, FORECLOSURES, LA QUINTA COMMUNITIES, LA QUINTA HOME FOR SALE, MONTHLY SALES REPORTS, PRICE ANALYSIS, SHORTSALES
TAGS: CHRISTIES INTERNATIONAL REAL ESTATE, CITY OF LA QUINTA, COACHELLA VALLEY GOLF, GALLAUDET PROPERTIES, HK LANE REAL ESTATE, LA QUINTA, LA QUINTA GOLF, LA QUINTA GOLF PROPERTY, LA QUINTA HOME SALES, LA QUINTA REAL ESTATE, SALE REPORT

 

 

 

 

 

 

 

 

 

 

 

 

Old Town La Quinta: A Unique Desert Oasis

Southern California is famous for a lot of things, but something that is in short supply here is the unique and cute downtown area, especially in smaller communities. I’m not sure, but I think maybe the concept of the “strip mall” was invented in California.

Old Town La Quinta
Old Town La Quinta

This is one attribute that makes La Quinta stand out from many of the neighboring communities. Visitors are always impressed by Old Town La Quinta and local residents are grateful to have such a diverse group of shops, restaurants and services all centered in one picturesque setting.

Fittingly, Main Street runs through the heart of Old Town La Quinta. Brick sidewalks, palm trees, the Spanish architecture and bougainvillea create an “Old California” feel. And with the mountains framing the entire scene, it’s really a drop-dead gorgeous setting.

Great shopping, fine dining
But it’s probably the boutiques, restaurants, salons and spas that are really the draw. It seems more difficult than ever to find one-of-a-kind items when you’re out shopping today. That’s not the case in Old Town La Quinta. You’ll discover things here that you’ll never see in the big mall stores.

In a similar way, the restaurants all do something a little different. There are none of those homogenized national brands where you get the same menu if you’re in Tampa or Toledo.

Proximity to golf
If you’re a golfer, whether you’re playing the Tradition, Rancho La Quinta, PGA West or virtually any of the others in the area, you’re only about five to 10 minutes from Old Town La Quinta.

PGA West Golf Course
PGA West

The La Quinta Resort has three of its own courses, the Mountain and Dunes which are public, and the Citrus which is private. Home shoppers have 10 gated residential communities to explore and compare there as well as several communities and courses that basically surround the La Quinta Resort.

If you’re like many of the folks who settle in our area, you’re looking for a lifestyle that doesn’t put you behind the wheel of your car for hours each day. That’s why having your home, your recreation and a prime commercial district such as Old Town La Quinta all nestled in with each other makes such a positive impact on the lifestyle here.

With not having to drive miles between home, golf and shopping, people suddenly find that there are more hours in the day to do the things they want to do.

You can’t put a price tag on that. However, we have put a price tag on our area golf guide: it’s free. Hit the button below and download it today so you can have your own copy.

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Puttin’ on the Ritz!

A few brand names in American popular culture have become synonymous with the highest levels of quality and taste.

The Ritz-Carlton, Rancho Mirage
The Ritz-Carlton, Rancho Mirage – Scenic Views

Cadillac would be one of those. In “Get Shorty,” John Travolta refers to his Oldsmobile Silhouette as “the Cadillac of minivans.”

Another iconic American brand that has that kind of stature is The Ritz. We have all probably heard the song, “Puttin’ on the Ritz,” and whenever you want to point out something as being the best of the best, you might say, “It’s really ritzy.”

Hotel reopens
I mention this because just recently a big group of VIPs from local government, the hospitality industry and the community were on hand for the reopening of the Ritz-Carlton, Rancho Mirage.

The Ritz-Calton, Rancho Mirage
The Ritz-Calton, Rancho Mirage – Pool

It was a project that was a long time in the making. The hotel originally opened in 1988 as the Ritz-Carlton, but was rebranded as The Lodge at Rancho Mirage in 2001. It closed in 2006 to transform it back to the Ritz-Carlton, but the economy got in the way for a while.

Everyone at the rechristening will tell you that it looks better than ever and I know local residents are really glad to have the Ritz brand back in the Coachella Valley. And while visitors to the area will certainly enjoy their stays at the Ritz-Carlton, Rancho Mirage, it also has a lot of meaning for families in the area as well as the real estate market overall.

Property owners benefit
Homeowners in the Mirada Estates gated community are entitled to guest privileges from the new hotel! Also, as many as 150 condominiums will be built next to the hotel.

The Ritz-Carlton, Rancho Mirage
The Ritz-Carlton, Rancho Mirage – Hotel Lobby

When you’re looking for a very exclusive area with great amenities—including the Ritz-Carlton—Mirada Estates should be on your radar. If the keys to great real estate are “location, location, location,” then Mirada Estates is truly great.

Sitting just above the newly remodeled and reopened hotel, Mirada Estates is perched on a plateau in the Santa Rosa Mountains, so many of the homes have a view out over the desert. Of all the beautiful vistas we have here, one of my favorites has always been the twinkling lights of the desert floor from the nearby mountains.

Nature protected
Mirada Estates is surrounded by the Santa Rosa-San Jacinto Mountains National Monument, so residents there know that the natural beauty will be forever preserved.

The Ritz-Carlton, Rancho Mirage
The Ritz-Carlton, Rancho Mirage – Guest Suite

The homes are all distinctive, so you can find just about any style of architecture that you prefer. Of course, a variety of golf courses are just minutes away as well. If you download our golf course guide to La Quinta, Indian Wells, Palm Desert, Rancho Mirage and Indio, you can get a good feel for which courses are in and around Rancho Mirage.

And hey, if you’re planning to visit soon to look at some property, why not spend a few nights at the Ritz-Carlton, Rancho Mirage and see for yourself what an excellent job they did!

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Everything World Class, Even the Health Care

Visitors to La Quinta and the Palm Desert area expect five-star accommodations, excellent dining and a full-time concierge. And with the number of Hollywood celebrities that make their way here, rolling out the “red carpet” (literally) is a common occurrence.

Renker Pavilion
Renker Pavilion

However, in other parts of the nation that level of customer service isn’t generally associated with a medical center.

We’re blessed to have the Greg and Stacey Renker Pavilion at the Eisenhower Medical Center. Of course no one looks forward to spending time in a hospital like they do a vacation resort, but it’s great to know an upscale facility like this is available in our area.

Our family got a first-hand look at what they do at the Renker Pavilion recently when my husband, Tom, went in for back surgery. To say we were impressed by the level of care, the quality of the food, the privacy and all the amenities would be an understatement. As we navigated through the challenges that Tom’s surgery gave us, the care and support we received at the Renker Pavilion made a huge difference in our lives.

Renker Pavilion
Renker Pavilion – Guest Lounge

Access to excellent medical care is becoming increasingly important to families and individuals as they decide where they want to live. Newspaper headlines have shown us that there are some corners of our nation that are underserved by the health care system.

Fortunately, residents in La Quinta don’t have that problem. Top quality medical facilities are abundant and the Greg and Stacey Renker Pavilion might just be the “bloom” on the desert rose. It truly sets the standard for personal service and comfort as well as individualized medical care in the health care industry.

Giving back to the community
I might also mention that the Renker Pavilion exists because of the hard work and dedication of Greg and Stacey Renker. Both found themselves fighting life-threatening illnesses. They were so grateful for the treatment and heartfelt care they received at the Eisenhower Medical Center that they decided to spearhead the founding of this very special facility. Community spirit and philanthropy are a big part of life in the desert.

Renker Pavilion
Renker Pavilion – Guest Room

Many of us who love the fact that we have so many golf courses to choose from here also appreciate the fact that we have great health care options, like the Renker Pavilion at the Eisenhower Medical Center.

Maybe someday we should publish a map with health care resources just like we have our golf resource guide. What do you think? By the way, our golf guide is free and you can get it just by clicking the button at the bottom of this page. It gives you a great overview of La Quinta, Palm Desert, Indian Wells, Indio and neighboring areas.

If you’re looking for real estate on or near a specific course, it will get you off to a great start in your house hunting. We’d recommend using our powerful search feature as your next step, or grab the phone and give us a call.

The Citrus Club
The Citrus Club

La Quinta real estate
You’ll find that just as the Renker Pavilion sets the standard for catering to the needs of its patients, the country clubs in our area set the standard for satisfying their members. One that comes to mind is The Citrus Club at La Quinta Resort.

The amenities are incredible, including its three courses, a great pool, tennis, spa, fitness center and more. Homes in The Citrus at La Quinta are equally outstanding and a number of prime properties are available right now.

You can probably tell that we’re in love with this area and we truly enjoy sharing it with others. Give us a call and let us introduce you to the possibilities.

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A Mixed-Use Development for La Quinta?

Desert living, and the communities here, have always been a fascinating microcosm of the United States. Over the years, people have come here from everywhere—from as close by as the glitzy Hollywood hills to as far away as the snowy Northeast and beyond.

Old Town La Quinta
Old Town La Quinta

A development recently proposed for Old Town La Quinta might bring another dimension to life in this area—a mixed-use “live and work” project (click here for more information).

Many US urban centers have been revitalized in recent years by an influx of affluent home buyers who want to live in the city core for the sake of convenience and being “close to the action.” This has led to developments with retail on the ground floor and condos up above. It has been successful in a number of cities.

Bringing new retail
It will be interesting to see how this project proceeds. It would certainly be a good addition to all the other great options home buyers have in La Quinta and the surrounding communities. Further, we think everyone would enjoy the kind of retail stores and restaurants that typically come with these kinds of projects.

Indian Wells Tennis Garden
Indian Wells Tennis Garden

People have been doing interesting projects in our area for generations and one name that has been prominent is Indian Wells. The Indian Wells Country Club has been host to avid golfers since 1956. Everyone from retirees working to lower their handicaps, to celebrities, to the world’s greatest professionals have played the club’s two courses.

Homebuyers who want to locate near these renowned 36 holes have a lot of options today. And if tennis is your game, you probably recognize Indian Wells as the home of the BNP Paribas Open, often called the “Grand Slam of the West.”

Golf courses in Indian Wells
If you take a look at our free Palm Springs area Golf Resource Guide, you’ll find Indian Wells Country Club just a short distance from the La Quinta Resort. You’ll see that the area is very well situated for shopping and restaurants as well. You’ll also notice that the number of courses in this corner of the desert is truly impressive. Avid golfers don’t need to drive far when they want to test their skills away from their “home course.”

Toscana Country Club
Toscana Country Club

Folks looking for property in the area will discover a wide range of homes in communities such as The Reserve, Toscana Country Club, El Dorado Country Club, Vintage Country Club, Monte Sereno Estates and the Indian Wells Country Club itself, among others. With everything from condos to 8,000-plus square foot homes available, there is really something for everyone in and around Indian Wells.

A great place to start your adventure is with the search feature on our website and be sure to have our Golf Resource Guide handy as well so you can get an overview as you explore properties and communities.

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Narrow Fairways, Broad Real Estate Options

The names Arnold Palmer gave the fifth through tenth holes on the course he designed at PGA West here in La Quinta, speak volumes. They start with “Intimidator” at number five and continue to “Monster” at the tenth.

PGA West Golf Course
PGA West Golf Course

They certainly present a challenge for most of us amateurs, but even more than that, they represent the wide variety of courses that are available to golfers in La Quinta and the surrounding communities.

You can dial in virtually any “degree of difficulty” that suits your playing level. This diversity gives the homeowner another advantage. If you’re planning to move here, you’ll probably discover fairly quickly that your home will be a popular destination for visitors—your family and close friends.

And if one weekend you have a newbie to the game visiting, you can head to a course that matches that skill level. Next, when you have scratch players come into town, you can set them loose on courses that will test exactly how long and accurate they are.

See your golf options
To get a very detailed overview of your golf options—including both public and private courses—be sure to download our free golf guide. It gives you all the critical information you need and even serves as a general Palm Springs country club membership guide. The link is at the bottom.

PGA West Property
Private Residence at PGA West Stadium

Now let’s tie two of our main interests together—golf and real estate. If you’re a golfer you want to see your numbers go down. If you’re a property owner, you like to see your numbers go up. Rising property values are good for owners and they reflect a healthy market.

Recent reports show a strong market for both new and existing homes in La Quinta, Indian Wells and the general Palm Springs area. Year-to-year figures show that new home sales were up 19 percent in the Coachella Valley in February and median prices rose by about 25 percent for homes and condos.

Explore the communities
Solid figures like these are always reassuring for a community and a positive sign for prospective buyers. Further, with the variety of communities in the La Quinta real estate market, you always have a lot of properties to choose from.

Puerta Azul
Puerta Azul in La Quinta

For example, within the gates of La Quinta Resort there are six communities, including The Mountain Estates and The Enclave, both of which feature large custom homes, as well as La Quinta Resort Spa Villas, which are condos near the spa. So, there are properties for virtually every budget and lifestyle.

And if living in a golf course community isn’t critical for you, you’ll want to check out luxury gated communities such as Painted Cove, Puerta Azul, Hidden Canyon, Talante and others.

So download our guide, look it over and give us a call. I think you’ll enjoy our positive and relaxed approach to helping you find the perfect property in La Quinta or the greater Palm Springs area.

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