Tag: la quinta golf

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 through July, 2011.

City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Open escrows in July decreased overall by 5.7% while the number of Escrows for the more expensive Golf Properties decreased by 1.4%. Since this is the first “summer” month the slight downturn is expected and sales most likely will continue to decline through August and September. The number of “short sales” and “bank owned” properties being offered at reduced prices seem to be remaining at higher levels then in the past and this is affecting the entire market. Remember that although you “may” get a home at a lower price if you wait, the mortgage interest rate will likely be higher so the purchase will wind up costing you more over time.

Closed home sales in July showed a 27.0% decrease over June making July slightly lower than July 2010. Although the general attitude of the majority of people we talk to is that the market has hit the bottom but we are beginning to hear some folks saying they’re going to wait a little longer. The slightly increasing mortgage interest rates may add some urgency to our industry.

Golf Course home sales in La Quinta.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) decreased 27.0% in July. However the average price per square foot increased 7.3% in July over June..

Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity through June. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market. Most lenders seem to be trying to deal more efficiently with the inventory of distressed properties although dealing with a short sale of foreclosure can still be a challenge.

Coachella Valley Inventory:
On July 31, there were 5,099 active listings (down 4.1% from June), 2,390 units in escrow (down 3.9% from June) totaling 7,489 units (down 4.0% from June) available for sale which makes 31.91% of the total in Escrow (Up 0.06% from June) – which means we are working on reducing the supply which will ultimately increase demand and improve the market.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

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

Year	All	LQ Golf Course
2002	1,354	259
2003	1,565	652
2004	1,931	813
2005	1,553	657
2006	1,098	491
2007	935	447
2008	1,063	416
2009	1,155	418
2010	1,355	530
2011 YTD	890	341

* 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.

Source: DesertAreaMLS

Categories: Business of Real Estate, Golf, La Quinta Communities, Monthly Sales Reports, Price Analysis
Tags: 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

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 through June, 2011.

City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Open escrows in June decreased overall by 12.3% while the number of Escrows for the more expensive Golf Properties decreased by 23.1%. We seem to be in a period of retreat fueled by the uncertainty in the economic health of the country. Prices have started to decline again after almost two years of relative, seasonal stability. This can be attributed to three causes. First, historically, prices tend to decline in the hot summer months as demand lessens. Second, there seems to be an increase in the number of “short sales” and “bank owned” properties being offered at reduced prices affecting the entire market and third, consumer confidence has taken another hit from yet another debate concerning the nations economy. Real estate sales mirror the level of consumer confidence – when confidence goes up, our sales go up. Remember that although you “may” get a home at a lower price if you wait, the mortgage interest rate will likely be higher so the purchase will wind up costing you more over time.

Closed home sales in June showed a 10.3% increase over May making June the best month in La Quinta since before 2008. Although the general attitude of the majority of people we talk to at open houses is that the market has hit the bottom but we are beginning to hear some folks saying they’re going to wait a little longer. The slightly increasing mortgage interest rates may add some urgency to our industry.

Golf Course home sales in La Quinta.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) remained relatively steady in June (down just 1.8%). However the average price per square foot decreased 16.1% in June over May attributable to an increase in the destressed property inventory.

Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity through June. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market. Most lenders seem to be trying to deal more efficiently with the inventory of distressed properties although dealing with a short sale of foreclosure can still be a challenge.

La Quinta Inventory:
On June 30, there were 5,319 active listings (down 9.0% from May), 2,486 units in escrow (down 7.7% from May) totaling 7,805 units (down 8.6% from May) available for sale which makes 31.85% of the total in Escrow (Up 1.0% from May) – which means we are working on reducing the supply which will ultimately increase demand and improve the market.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

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

Year	All	LQ Golf Course
2002	1,354	259
2003	1,565	652
2004	1,931	813
2005	1,553	657
2006	1,098	491
2007	935	447
2008	1,063	416
2009	1,155	418
2010	1,355	530
2011 YTD	777	304

* 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.

 

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 through May, 2011.

City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Open escrows in May increased overall by 4.9% while the number of Escrows for the more expensive Golf Properties decreased by 5.2%. May is the second consecutive monthly decrease after increasing for the previous 6 months. I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home. I recently read an article offering a retort to a buyers comment “I’ll wait until the prices really hit bottom…” The article pointed out that although you may get the home at a lower price, the mortgage interest rate will be higher so the purchase will wind up costing you more over time.

Closed home sales in May showed a 8.9% decrease over April, the best month in La Quinta since June of 2010, but it is 2.3% higher than April, 2010. Although the general attitude of the majority of people we talk to at open houses is that the market has hit the bottom but we are beginning to hear some folks saying they’re going to wait a little longer. The slightly increasing mortgage interest rates may add some urgency to our industry.

Golf Course home sales in La Quinta.
The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) showed an increase in May over the increase in April. However the average price per square foot decreased 2.6% in May over April.

Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity through May but June has slowed somewhat.. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On May 31, there were 5,848 active listings (down 6.1% from April), 2,694 units in escrow (down 1.3% from April) totaling 8,542 units (down 4.7% from April) available for sale which makes 31.54% of the total in Escrow (Up 1.07% from April) – which means we are working on reducing the supply which will ultimately increase demand and improve the market.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.
Here are some yearly sales figures (units) for the City of La Quinta from 2002:

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

Year	All	LQ Golf Course
2002	1,354	259
2003	1,565	652
2004	1,931	813
2005	1,553	657
2006	1,098	491
2007	935	447
2008	1,063	416
2009	1,155	418
2010	1,355	530
2011 YTD	621	247

* Remember that the sales numbers represent “Closed” escrows. Since the avergae escrow is between 45 ans 60 days, the decision to purchase the homes that closed in March was probably made in December to early January.

 

 

 

 

 

 

 

 

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 through April, 2011.

City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

Open escrows in April increased overall by 7.7% while the more expensive Golf Properties decreased by 3.0% after increasing in past 6 months. I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home.
Closed home sales in April showed a 9.0% increase over March and made April the best month in La Quinta since June of 2010. The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation. Also, the slight increase in mortgage interest rates may have added some urgency to our industry.

Golf Course home sales in La Quinta.

The sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) showed an increase in April over the small declined in March. However the average price per square foot decreased 4.1% in April over March.

Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity since Labor Day and more noticeably in February and March – the height of our season. The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On April 30, there were 6,231 active listings, 2,730 units in escrow totaling 8,961 units available for sale which makes 30.47% of the total in Escrow.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

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

Year	All	LQ Golf Course
2002	1,354	259
2003	1,565	652
2004	1,931	813
2005	1,553	657
2006	1,098	491
2007	935	447
2008	1,063	416
2009	1,155	418
2010	1,355	530
2011 YTD	488	191

* Remember that the sales numbers represent “Closed” escrows. Since the avergae escrow is between 45 ans 60 days, the decision to purchase the homes that closed in March was probably made in December to early January.

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 through March, 2011.

City of La Quinta home sales by month since January, 2008*

The blue lines represent 2008 data, the orange lines represent 2009 data magenta lines represent 2010 and the green lines represent 2011 data.

March continues to show a rebound from the months of December and January’s declining sales numbers making the first quarter of 2011 the strongest since before the same quarter in 2008.  We continue to see an  improvement in consumer confidence and interest in the “over $1 million” market. Open escrows in March increased overall by 12.3% while the more expensive Golf Properties increased by 13.8% after an increase in February.  I believe that, as the economic recovery gathers momentum, buyers are aware that Interest rates will also start to increase which makes “now” a great time to buy a home.

Closed home sales in March showed a 5.6% increase over February and made March the best month in La Quinta since June of 2010. The general attitude of the people we talk to at open houses is that the market has hit the bottom and that is backed up by current prices versus historical appreciation. Also, the slight increase in mortgage interest rates may have added some urgency to our industry.

Golf Course home sales in La Quinta.

Unlike the overall sales numbers above, the sales-volume numbers in the higher-end market (which contains many of the golf properties in the chart above) also declined slightly in March. However the average price per square foot increased 15.6% in March over February.
Overall, we are still seeing positive signs in the market place. There has been a steady increase in activity since Labor Day and more noticeably in February and March.  The mortgage industry is the best it’s ever been for conventional loans but the “jumbo” loans, although becoming more available, continue to be a stumbling block in the higher end market.

La Quinta Inventory:
On March 31, there were 6,691 active listings, 2,567 units in escrow totaling 9,258 units available for sale which makes 27.73% of the total in Escrow.
If buying property is something on your list (especially golf property), why not take advantage of the incredible prices and seller incentives now, when sellers will work with you, instead of in the future, when the demand starts to catch up with the supply? Especially if you’re buying and planning to hold for 5+ years.

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

Year	All	LQ Golf Course
2002	1,354	259
2003	1,565	652
2004	1,931	813
2005	1,553	657
2006	1,098	491
2007	935	447
2008	1,063	416
2009	1,155	418
2010	1,355	530
2011 YTD	343	135

* Remember that the sales numbers represent “Closed” escrows. Since the avergae escrow is between 45 ans 60 days, the decision to purchase the homes that closed in March was probably made in December to early January.