The City of La Quinta, home sales for the year 2015 are 1.9% lower than 2014 with the second half finishing better than the first. This may have been because the announcement and press coverage of the state’s drought condition was new and plentiful and was a concern to a significant number of potential buyers. The fourth quarter of 2015 was 22% higher than the fourth quarter of 2014. We started 2015 with a tight inventory of homes for sale which is a major contributor to the decrease in sales throughout the first half of the year. When compared to 2014, sales picked up through the summer months which brought 2015 sales closer to those of previous year.
Even given the above information, as far as prices go, the average price per square foot rose 3% in 2015 over 2014. However, we must note that 2014 prices were below the annual average of the last three years.
As everyone is saying currently, we have noticed here in the Coachella Valley that since the fall of the Canadian dollar in 2013 and the first quarter of 2014, there has been a noticeable decrease in the number of Canadian buyers. After the crash of 2008, the Canadian dollar rose to be more valuable than the American dollar which spurred on the Canadian buyers. Since 2011, the Canadian dollar has returned to a more traditional level which means that a Canadian buyer would need close to one million Canadian dollars to purchase a $700,000 home in the U.S. So, this is definitely one factor in our current slow down but certainly not the only factor. The Canadian market was never 90% of our sales so we cannot simply blame this slow down on that one factor. Unfortunately, the current state of the world economy, the down turn of the stock market, and the large inventory of homes for sale that keeps growing have all contributed in turning this into a buyer’s market.
This is a graph of the Real Estate “Bubble”. The red line represents the normal historical Real Estate appreciation rate of 4.5%
In January, the inventory has risen significantly and here are some numbers showing the age of that inventory. A 6 month inventory is considered normal. More than 6 months is considered a “Buyers” market and less then 6 months is considered a “Sellers” market.
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 – 1,537 – 567
2014 – 1,284 – 576
2015 – 1,259 – 512
* 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!
One of the many special aspects of living in La Quinta, is the availability of fabulous golf, on a variety of different style courses designed by world famous golf course designers, and players. Depending on your level of golf, and your style of living, there is much to choose from. When purchasing a home in a golf course community you should make certain that you play the course and enjoy its level of play. There are many communities that allow you to purchase a membership as a non resident as well; PGA West, The Citrus, The Tradition, The Quarry, Mountain View CC, Andalusia, La Quinta Country Club, and The Palms. These are all fabulous courses, and you can live anywhere in La Quinta, and still join them—-or you don’t even need to live in La Quinta to join them as a non-resident. In addition, as a resident of La Quinta, you can play the fabulous public course, Silver Rock designed by Arnold Palmer, for a substantially reduced rate. The price depends upon the time of year, but always a great reduction. If you have specific golf requirements in looking for a course, give me a call and I will help you find the one that is perfect for you. I guarantee that there is more than one!
The Tradition Golf Club in La Quinta is a beautiful private equity Golf Club established in 1997 with the property’s origins dating back to 1902 as a ranch that hosted such names as Dwight D. Eisenhower. The location is special. Nestled at the foot of the Santa Rosa Mountain Range with breathtaking views from every direction. The community is made up of a select blend of custom homes including Spanish Revival, Early California, and Mediterranean architecture. In addition the beautiful Village area of semi custom homes situated on the bluff overlooking the golf course, offers views that take your breath away. The Prices of all these homes range from $1,495,000 to $7,000,000.
The private golf course is an Arnold Palmer designed 18 hole championship course. Arnold Palmer himself owns a home at the Tradition and can often be found on the course, or enjoying a delicious meal prepared by The Tradition’s Chief. He has even been known to give pointers to members he sees while on the driving range. in addition the club offers a nine-hole par 3 course and a challenging practice facility including seven target greens. The equity membership opportunities are by invitation only and limited to 250 members. Whether it be the Junior, Social, or the Golf Membership that is desired, included are the exquisite dining facilities in the main dining room, use of the private Eisenhower Cottage, the Kennedy Suite and the famous Hacienda Del Gato dating back to 1920, and the fitness center.
The Tradition Golf Club’s 5400 square foot Fitness Center offers advanced equipped facilities and world-class professionals. Included in the fitness center are private luxurious treatment rooms for restorative body therapies, Pilates reformers and a high-performance cardio and strength-training area. Fitness classes taught in the studio range from yoga to boot camps to Zumba.
The Tradition also hosts special guest speakers with a wide variety of wellness topics. There are a variety of different member groups that meet to bike, paint, and trail hike. The Tradition members also have bridge groups, Canasta afternoons, knitting and stitching groups and book clubs as well as a“Yappy Hour” for our four-legged friends.
Currently at The Tradition there are 21 homes for sale. In addition there are empty lots for sale ranging in price from $300,000 to $2,299,000. Most homes include pools and spas, and are on the golf course. The views from all these homes are spectacular. This is a special place in The Desert, and I would love to show it to you and tell you more about it. Just give me a call.
PGA West is a special association, located on over 2,200 acres in sunny La Quinta, California. Within the PGA West association there are 7 separate gated communities which look out onto six different championship golf courses, with both public and private options for golf lovers. The courses were designed by 5 different golf legends including Arnold Palmer, Jack Nicklaus, Tom Weiskopf, Greg Norman and renowned course designer Pete Dye. Within the PGA West gates there are three clubhouses (two public and one private), all offering dining options with spectacular views of the signatures courses and the Santa Rosa Mountains.
Within the private clubhouse there is the Health and Racquet Club which offers 19 tennis courts with Har-Tru Clay, hard and grass surfaces. In addition, the private Fitness center features state of the art Cardio and Aerobic machines, free weights, strength and conditioning classes, Yoga, Pilates, and personal training.
With about 3,000 homes in the community, home buyers have a wide variety of pricing and style from which to choose. Homes range in price from $200,000 condominiums up to $3,000,000 single-family estates. This number includes the last two developments that developers have recently opened: Alta Verde at Coral Mountain, offering 130 modern styled homes with Balinese influence including the newest sustainable technology and design available, and The Signature at PGA West, comprised of 230 Spanish styled condominiums, homes and estates centrally located in PGA West.
There are three membership options: Social, Sport and Golf. The golf memberships have different options– One option allows play on the 3 Citrus Membership courses as well as the 6 PGA West courses. There are many incentives to join the Club which can be discussed with the PGA West Membership Directors.
Currently at PGA West there are 202 homes and condominiums for sale. The Residence Club is another option at PGA West that is not included in the 7 communities mentioned, and is a wonderful opportunity for the buyer who really can’t enjoy the Desert for long periods of time, due to work schedules or other personal reasons. It offers fractional ownership in each home (one quarter or one ninth), with residence ownerships available from $139,000 to $194,000.
If you’re a golfer, how would you like to play in a tour event?
Confession time: I’m not talking about the PGA tour, I’m talking about the annual La Quinta Summer Golf Tour. Last year it was held from the end of May through August and players were able to enjoy 13 weeks of golf on some of the finest courses in the Coachella Valley.
Included in last year’s lineup of courses were the Escena Golf Club, Eagle Falls, Classic Club, Indian Wells Country Club, and Desert Willow, among others. To “join” the tour it only cost $69 plus the weekly green fees.
Play new courses
Avid golfers in La Quinta, Indian Wells, and the greater Palm Springs area often enjoy their home courses so much, they don’t get around to some of the other fantastic golf and country clubs. The La Quinta Summer Golf Tour is the ideal vehicle to find your next favorite course.
The tour ends with a banquet where plaques are awarded to the top finalists in both the single and team divisions. Of course, many golfers participate just for the fun, exercise, experience and opportunity to make new friends. I should add that if you have friends or family visiting you, they can jump into the week’s tour event for a nominal fee and play a course they might not otherwise get onto.
Where else could golfers play a 13-week local summer “tour,” never play the same course twice, and never have to venture far from home? Players who sign up for the La Quinta Summer Golf Tour certainly see a wide variety of courses, but even after the 13 weeks are over, there are many more courses to explore in the Coachella Valley.
Our free golf resource guide
The best way to see a complete list of courses, their locations and relative costs in terms of memberships as well as neighboring real estate, is to download our free golf resource guide. As much as we love AAA maps and guides, and the map apps on our smartphones, our golf course guide is still the best way to get an overview of our area.
And if you live here in La Quinta and participate on the summer tour, you have a distinct advantage that pro golfers are unable to enjoy on their tour: You can return to your own home each night after the day’s golf and relax in real comfort. And if you want to hone your swing the next day to get ready for the following week’s competition, you can play a few rounds on your home course or another nearby course.
At La Quinta Resort, for example, there are three courses, two that are public along with one private course. And with 10 gated residential communities spanning these courses, your options in homes are incredible.
We would be privileged to introduce you to these communities as well as other wonderful neighborhoods and have the opportunity to answer your questions. So please, download our guide, look it over and then give us a call.
That summer tournament is getting closer every day.
Mountain View Country Club in La Quinta was developed in 2004 by Toll Brothers. The Spanish Colonial designed community consists of 376 homes and 50 condominiums with prices of these homes ranging from $600,000 to $1,500,000. The condominiums range from $400,000 to $550,000.
The 13,880 square foot clubhouse is beautifully designed in La Quinta’s Spanish Colonial architecture with main restaurant and private dining for up to 20, Golf Pro Shop, Cantina, Mens and Womens locker rooms and bag storage. The main restaurant hosts weekly Wine Wednesday and “Fresh to Table” menu Friday evenings and Jazz Brunch on Sunday. The Cantina opens daily in season. The fitness center features state of the art Cardio and Aerobic machines, free weights, strength and conditioning classes, Yoga, Pilates, and personal training. A lap pool and whirlpool spa are there for a relaxing afternoon. The onsite spa provides over 30 different treatments for facials and massage, steam rooms and locker facilities. There are 4 lit tennis courts with singles and doubles clubs and tennis clinics with the club’s tennis pro.
The Par 72, 18-hole championship course is an Arnold Palmer Signature design with multiple sets of tees to challenge all levels of skill players and incorporates a full practice range with separate chipping and putting areas. Golf membership to this beautiful club and course is an initial fee of $75,000, 80% of which is refundable upon leaving. The monthly dues are $999.00, and those include social membership as well. If only a social membership is desired, that cost is $408.50/month and is included when a home is purchased in the community. This is a totally private club, and therefore the social membership can only be gotten through the purchase of a home. The social membership includes full use of Club facilities, Clubhouse, Dining, Social Events, Tennis Courts and Fitness and Spa Facility.
Currently at Mountain View Country Club there are 37 homes and 6 condominiums for sale. Most homes include pools and spas, and are on the golf course.
For more information about Mountain View Country Club and other golf course communities in our Desert, please download our free golf resource guide where you can easily find and compare golf membership deposits, monthly dues, and real estate prices! Simply click the button below.
At this time of the year, music lovers around the world as well as all the locals in our area start to anticipate the huge two-week Coachella Music and Arts festival that opens on April 10th. And this year there’s an interesting little fashion twist in the pre-festival news: Swedish clothing designer and retailer H&M has introduced a Coachella-inspired line of women’s fashions.
Women who can’t make the concerts can still get into the spirit of the event by adding some pieces from this collection to their wardrobes. The clothing goes on sale starting March 19th and will be in 350 stores across the country. H&M has been a sponsor of the festival for six years and I think their creative department had a brilliant idea when they decided to design a line of clothing to reflect the festival.
Concerts already sold out
If you don’t have your tickets yet, donning your Coachella apparel might be the best way to share in the experience. All the concerts are already sold out and with performers like Jack White, AC/DC and Steely Dan on the bill, that’s quite understandable.
Through the years, I’ve seen various celebrities who have clothing lines marketed in their names, but to have fashions sold under the name of the valley where we live here in La Quinta is truly an original idea.
If you browse through the fashions, you’ll see that they have a certain retro bohemian look to them. They would be great not only for the festival, but for wearing at any outdoor warm weather event. In a way, the style reflects the diversity of lifestyles in La Quinta, Indio and the general Palm Springs area.
Something for all ages
Whether you’re younger and enjoy the latest hot indie rock group, or you’re older and like to spend your time outdoors playing golf or tennis, you can find a supportive community and circle of friends here. And as a real estate professional, I need to point out that not only can you buy a line of clothing inspired by Coachella, you can buy a home that is actually located in the Coachella Valley. If you do that, you can enjoy the uniqueness of this area all year long.
In some ways, our free downloadable guide to golf courses puts this quality in a graphic form. You can see at a glance the great number of courses you have within minutes of your home when you live here. And while I often give you information about special events that are happening in our community, when you live in a place like La Quinta Resort, for example, there is always something to do and local happenings to attend. You have golf out your front door and great dining in restaurants like Morgan’s.
Staying in is good too!
Of course, with our climate and the extraordinary design of the houses in La Quinta, Indian Wells and the Palm Springs area, you can stay at home and have a wonderful time as well. If this sounds appealing to you, please download our guide and then call us so we can answer your questions and give you additional information.
Where can you find horses, wedding parties, golf carts and pop music stars?
There aren’t too many places on the planet where those groups come together but here in the Coachella Valley we are blessed with the Empire Polo Club in Indio.
Established in 1987, the Empire Polo Club has a dozen grass polo fields, an indoor polo arena, stables, exercise tracks, the Tack Room Tavern, beautiful venues for weddings, and a lot more.
If you’ve never watched a polo match, you need to make it out there. It’s a great spectator sport and you can really enjoy the company your with during the event. The horses are incredible athletes and it’s great to see how the players work with their steeds. The games are divided into eight seven-minute chukkas and typically last two hours. And if you want to do more than just watch, there are a variety of ways to learn polo at the club.
More than polo
Now, what about golf carts and pop music stars? Well, for those of us who don’t ride, Empire Polo Club has occasional sessions of golf cart polo. If you’re a golfer you know you’ve been dying to take a whack at a little white ball while you were barreling down the fairway. Here’s your chance!
And regarding the pop music stars, the Empire Polo Club is the site of the world famous Coachella Valley Music and Arts Festival. The event stretches over two weekends and in 2015 the dates are April 10-12 and April 17-19. Around this time of year, fans of the event start watching for the festival organizers to announce the lineup.
Performers as big as Paul McCartney, Amy Winehouse, the Black Keys and Jay-Z have appeared in prior years. Every type of pop music is represented from rock, to indie, to electronica and hip hop. And all of this happens on an expanse of beautiful green grass where horses would be running around most other days. It’s a very unique place.
Golf reigns supreme
But we know that in La Quinta, Palm Springs, Indian Wells and even Indio, there is a somewhat more popular sport that involves hitting a hard white ball around a grassy expanse (hopefully!) and that’s golf. Since the history of polo dates back to the sixth century BC, it’s been around far longer than golf, whose origins go back a mere 700 years in comparison.
However, there’s no doubt about which is more popular today and that’s why we offer a free Golf Resource Guide and not a guide to polo fields. And if you haven’t yet downloaded our guide, we encourage you to take advantage of our offer.
It’s a great way to get a feel for how all the golf courses in La Quinta, Indian Wells and the general Palm Springs area relate to all the communities where you might consider buying a golf course home.
We have also included information on the relative costs of country club memberships as well as real estate prices. For many, owning a home on or near great courses such as The Tradition, PGA West, The Citrus Club, and others is a dream come true.
We’re in the business of helping people realize those dreams, so if you would like additional information or have more questions after you’ve looked over our guide, please give us a call, we’d love to help out.