Palm Desert

Real Estate

Affordable Palm Desert living

FRANK SINATRA’S DESERT HIDEAWAY “VILLA MAGGIO”

Is there affordable living in Palm Desert? You may consider Palm Desert a luxury destination filled with expensive multi-million-dollar homes and fabulous golf courses. In fact, Palm Desert is home to many celebrity getaways due to its proximity to Hollywood. For example, take a look at Frank Sinatra’s “Villa Maggio” on San Lorenzo Road. FRANK SINATRA’S DESERT HIDEAWAY | “VILLA MAGGIO” | 70300 San Lorenzo Rd., Palm Desert, CA [ar_video_embed type=”youtube” autoplay=”0″ vid=”_KwAt8dtBW8″ /] This home is beautiful and one of the many luxury homes you’ll find in Palm Desert. But, there is affordable living in Palm Desert too. If you’re looking for an affordable Palm Desert home where you can take advantage of its many golf courses, hiking trails, beautiful vistas, and fabulous shopping, check out these under a million dollars listings. Homes for sale around the Palm Desert Area

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luxury living

Luxury Living in Palm Desert

Why is Palm Desert such a desirable location? Because luxury living in Palm Desert is so available. Many luxury desert communities have fantastic homes overlooking beautiful desert scenery. But nothing quite compares to the Coachella Valley landscape and gorgeous weather you’ll find in Palm Desert. In fact, here is a forecast of the Palm Desert weather for the next week. This forecast updates regularly, so check back frequently so you know how to plan your fantastic Palm Desert day. [ar_weather link=”https://forecast7.com/en/33d72n116d37/palm-desert/?unit=us” label_1=”PALM DESERT” theme=”pure” /] Living in Palm Desert If you’re a resident of Palm Desert, it means more than just living in the desert. In Palm Desert, you have many opportunities to hike, bike, golf, or just enjoy the serenity of warm sand and rocky vistas and the gentle desert breeze. But it’s More Than Just a Desert Palm Desert, California, is the diamond in the desert! Offering more than 80 championship golf courses, magnificent mountains, fine dining, theaters, galleries, plenty of boutique shopping, and 50 luxurious hotels and resorts, Palm Desert is whatever you’re looking for and a little bit more. Luxury homes in PALM DESERT Palm Desert offers homes in various architectural styles, custom builds, and even raw land to build your one-of-a-kind dream home. If you want to know more about what’s available to buy in Palm Desert, check out these luxury listings currently on the market with virtual showings. Homes for sale around the Palm Desert Area

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Airbnb effect on Socal's real estate market

Palm Desert Market Report

I know that having an accurate read on the market is central to your success. I am a Palm Desert expert. So, whether you’re thinking of selling, buying, flipping, or renting, you can keep up to date with my market report for Palm Desert, California. As a major growth center in the Coachella Valley, the city of Palm Desert is a popular “snowbird” retreat. Seasonal visitors from colder locations in the Eastern and Northern United States and Canada swell its population by nearly 31,000 each winter. Palm Desert has seen more residents become “full-timers.” Mainly these new residents are from the coastal and urban centers in California. They come for both affordable and high-valued homes. In today’s always-evolving real estate atmosphere, property buyers and sellers like you are smart. And you want to stay informed. So you turn to the best statistical analysis and data available to assist with your buying and selling decisions. And, we give you more than just a comparative analysis of similar properties. The market report for Palm Desert gives you a plethora of other details. Here are just a few: Demographics in Palm Desert; Palm Desert economic health indicators; Employment rates for Palm Desert; Palm Desert industry and jobs movement; Income trends around Palm Desert; Palm Desert cost of living analyses; Real data from local Palm Desert property transactions. Between the Palm Desert Market Report and my expertise, you’ll have all the data you need to determine if now is the right time to buy, sell or invest in this beautiful desert city. Stay Up-to-Date Because this report updates regularly, you should bookmark this page and check in often to see what’s happening in the Palm Desert real estate market. And, if you’d like to search other markets or narrow the data, click here. And, if you want to see some of the homes represented by these market reports, please check out the latest homes for sale on the local market in Palm Desert below. Luxury homes in PALM DESERT Palm Desert offers homes in various architectural styles, custom builds, and even raw land to build your one-of-a-kind dream home. If you want to know more about what’s available to buy in Palm Desert, check out these luxury listings currently on the market with virtual showings. Homes for sale around the Palm Desert Area

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Corterra Villa Homes @ Palm Desert Country Club

Corterra Villa Homes 77164 Vermont Circle, Palm Desert, CA 92211 Model now open by appointment only EMAIL Corterra@palmdesert.com with questions or interest in the project. Among the many benefits of living in the beautiful region that is the Coachella Valley is the variety of different active lifestyle choices residents have here. Most days are sunny and warm in this part of the State, and that means people who live here take nearly every opportunity to be outdoors and enjoying themselves. Prospective homebuyers interested in the Coachella Valley area that are looking to purchase a villa home located very close to a good Palm Desert golf course are in the right place. Interest in Palm Desert Homes for Sale continues to grow each year, and these types of single-level homes are always popular with older homebuyers who recognize the benefits of them. This will apply to anyone interested in similar Indian Wells homes for sale as well, and the proximity of the two communities will almost always lead genuinely interested buyers to be flexible based on finding a property that truly works best for them. Quality Villa Homes in Palm Desert This development of Palm Desert homes for sale here at Palm Desert Golf and Country Club will feature 69 villa homes that are 1,432 square feet in size and available in clusters of one, two, and three unit groups. They are 2-bedroom plus den single floor homes with open floor plans and have been designed to facilitate the best in indoor and outdoor living. It is fair to say that these homes will be among the most eagerly anticipated among Palm Desert homes for sale as we move into the coming New Year. Buyers looking for homes for sale in La Quinta, CA will be interested in this development as well. Attractive Houses for Sale in Palm Desert with Great Amenities – and Fairways – Right Nearby Each of these golf course houses for sale in Palm Desert features front and back open terraces that offer a nice measure of privacy for owners and the guests they may be entertaining. Each home will come with a 2-car garage as well. We’re working a number of pocket parks and a pickleball courts into this new villa home development in Palm Desert, and there will also be a continuous walking path that goes all around the project. Plus, those who are quick to seize the opportunity with these Palm Desert homes for sale will also have all of the other amenities here to enjoy. Most popular among them for homeowners here is our community pool and spa with multi-purpose room that can used for nearly any indoor activity for groups of people. There’s more in the way of that makes this such an appealing place for golf lovers to live in Palm Desert, and we encourage you to visit the Club to learn more. CORTERRA SALES PRICE are in Mid $600,000 Click here to See First Phaze Lot Plan Great Golfing! It’s not that we think any less of homes for sale in Palm Springs, CA but not only do they tend to be a bit pricier, but they’re not as ideally located for golf and other outdoor activity enthusiasts the way that these villa Palm Desert homes for sale are. Same can be said for homes in Rancho Mirage CA. Both are lovely spots, but – if you ask us – Palm Desert is that much more of a golfer’s paradise. Plus, it’s fair to say that nothing does a better job of selling people on our Palm Desert Country Club Homes for sale here than the excellence of the 18 holes on our course. If you love golf that challenges your skills while being surrounded by attractive landscaped vistas that are paired with beautiful backdrop of the Santa Rosa, San Jacinto, and San Gorgonio mountains then you’ll quickly be enamored with our course. For places to stay, check out Palm Desert, CA resorts & hotels. Homes for sale around the Palm Desert Area Homes for sale around the Palm Desert Area

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Vacation Rental Home in Palm Desert, California

Easy income $$$$ 3 month rental pays a years of expenses

Investing in a vacation rental property. It can be a great way to generate income and enjoy your own vacation home. However, there are many factors to consider before you buy a vacation rental property, such as location, market demand, expenses, taxes, and management. I’ve searched the web for some helpful resources that can guide you through the process of buying a vacation rental property and estimating your potential income. One resource is Vacation Rental Investment: A Step-by-Step Guide | FortuneBuilders, which provides a comprehensive overview of how to invest in vacation rental properties, from choosing a location and conducting market analysis to financing and managing your property. It also explains some of the benefits and challenges of vacation rental investing, such as more income, tax deductions, seasonality, and regulations. Another resource is Vacation Rental Income Calculator – How to Estimate Earnings | Evolve, which offers a free tool that can help you calculate your annual income from renting out your vacation home. You just need to enter some basic information about your monthly revenue and expenses, such as your average nightly rate, nights booked, mortgage, utilities, insurance, taxes, and management costs. This tool will then generate an estimate of your gross revenue, total expenses, and net income. A third resource is Tax Rules for Renting out Your Vacation Home – Investopedia, which explains the different tax implications of renting out your vacation home depending on how often you use it for personal purposes and how long you rent it out for. For example, if you rent out your vacation home for less than 14 days per year, you don’t have to report the rental income to the IRS, but you can still deduct mortgage interest and property taxes as a second home. However, if you rent out your vacation home for more than 14 days per year and use it for personal purposes for less than 10% of the rental days or 14 days (whichever is greater), you have to report the rental income and expenses on Schedule E as a business property. I hope these resources are useful for you. Please let me know if you have any questions or feedback. I’m always happy to help. Homes for sale around the Palm Desert Area

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Changing Demographics in the Palm Desert Real Estate Market: A Strategic Perspective

The Palm Desert real estate market is a dynamic landscape influenced by various factors, including shifting demographics. As the population evolves, so do the demands and preferences of homebuyers and investors. In this article, we explore the impact of changing demographics on the Palm Desert housing market and provide insights for real estate professionals and potential buyers. 1. The Current State of the Palm Desert Housing Market. a. Price Trends: In December 2023, Palm Desert home prices experienced a 5.2% decline compared to the previous year, with a median price of $550,000. Despite this decrease, the market remains active, with 85 homes sold during that month. Understanding these price fluctuations is crucial for both buyers and sellers. b. Days on the Market: On average, homes in Palm Desert sell after 48 days, slightly longer than the previous year’s average of 47 days. This indicates a balanced market where buyers have time to explore their options. c. Migration Trends: Inbound Migration: Approximately 20% of Palm Desert homebuyers considered moving out of the area, while 80% preferred to stay within the metropolitan region. Some out-of-state buyers, particularly from San Francisco, expressed interest in relocating to Palm Desert. Outbound Migration: Residents leaving Palm Desert primarily moved to San Diego, Las Vegas, and Bakersfield. 2. The Impact of Changing Demographics. a. Aging Population: The aging population in Palm Desert plays a significant role in shaping the real estate market. As retirees seek warmer climates and a relaxed lifestyle, demand for retirement communities and age-friendly amenities increases. Real estate professionals should consider properties that cater to this demographic, such as single-story homes, accessible features, and proximity to healthcare facilities. b. Airbnb and Short-Term Rentals: The rise of short-term rentals, including platforms like Airbnb, has impacted the market. While these rentals offer income opportunities for property owners, they also affect housing availability and neighborhood dynamics. Investors should be aware of local regulations and market trends related to short-term rentals . 3. Strategies for Real Estate Professionals. a. Targeted Marketing: Understanding the changing demographics allows real estate agents to tailor their marketing efforts. Highlight features that resonate with specific groups, such as retirees, families, or young professionals. Emphasize proximity to golf courses, cultural attractions, and outdoor activities to attract the right buyers. b. Community Insights: Stay informed about community developments, infrastructure projects, and lifestyle amenities. Buyers often seek neighborhoods with parks, shopping centers, and recreational facilities. Being knowledgeable about these aspects enhances your ability to guide clients effectively. c. Collaborate with Local Experts: Partner with local experts, including mortgage brokers, appraisers, and relocation specialists. Their insights into changing demographics and market trends can provide valuable guidance to clients. Networking within the community fosters trust and credibility. In Conclusion, As the Palm Desert real estate market continues to evolve, real estate professionals must adapt to changing demographics. By staying informed, targeting marketing efforts, and collaborating with experts, they can navigate the shifting landscape successfully. Whether you’re a buyer, seller, or investor, understanding these dynamics will empower you to make informed decisions in this vibrant desert oasis.

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Airbnb effect on Socal's real estate market

How Socal’s Real Estate Market is Changing Due to Airbnb

The real estate market in Southern California (Socal) is undergoing a significant transformation due to the rise of Airbnb and other short-term rental platforms. These platforms allow homeowners to rent out their properties to travelers, generating extra income and creating more options for visitors. However, they also have an impact on the supply and demand of housing, the affordability and availability of rentals, and the character and culture of neighborhoods. In this blog post, we will explore how Airbnb is changing Socal’s real estate market, and what it means for buyers, sellers, renters, and hosts. The Airbnb Effect on Home Prices and Sales One of the main effects of Airbnb on Socal’s real estate market is that it increases the value and attractiveness of properties that are suitable for short-term rentals. According to a study by the University of California, Los Angeles (UCLA), Airbnb listings in Los Angeles County increased by 59% from 2014 to 2016, and the median price of homes sold in areas with high Airbnb activity rose by 4.6% more than in areas with low Airbnb activity. This suggests that Airbnb creates a premium for homes that can generate rental income, and that buyers are willing to pay more for such properties. Another effect of Airbnb on Socal’s real estate market is that it reduces the inventory of homes for sale, as some homeowners choose to keep their properties as short-term rentals rather than sell them. This creates a scarcity of housing supply, which drives up the prices and competition for buyers. According to a report by Zillow, the number of homes for sale in Los Angeles, San Diego, and Riverside counties decreased by 27%, 24%, and 22%, respectively, from 2019 to 2020. While there are other factors that contribute to the low inventory, such as the COVID-19 pandemic and the low interest rates, Airbnb is also a factor that discourages some homeowners from selling their properties. The Airbnb Effect on Rental Markets and Affordability Another effect of Airbnb on Socal’s real estate market is that it affects the rental markets and the affordability of housing for long-term residents. As more homeowners convert their properties into short-term rentals, there are fewer units available for long-term renters, which increases the demand and the rents for the remaining units. According to a study by the Economic Policy Institute (EPI), Airbnb listings in Los Angeles reduced the number of rental units by 7,316 and increased the average rent by $464 per year from 2012 to 2016. This implies that Airbnb reduces the affordability and accessibility of housing for long-term renters, especially for low-income and minority households. Another effect of Airbnb on Socal’s real estate market is that it creates a mismatch between the supply and demand of rental units, as some units are vacant for part of the year while others are overcrowded. According to a report by the Los Angeles Alliance for a New Economy (LAANE), Airbnb hosts in Los Angeles rented out their units for an average of 83 nights per year in 2015, which means that they were vacant for 282 nights per year. This means that there are thousands of units that are not used for most of the year, while there are thousands of people who are homeless or living in overcrowded conditions. This creates a waste of housing resources and a social inequity. The Airbnb Effect on Neighborhoods and Communities Another effect of Airbnb on Socal’s real estate market is that it changes the neighborhoods and communities where it operates. As more travelers use Airbnb to stay in residential areas, they bring more tourism, commerce, and diversity to the local economy. However, they also bring more noise, traffic, parking, and safety issues to the residents. According to a survey by the Los Angeles Times, 52% of respondents who live near Airbnb rentals said that they have experienced problems with noise, parking, or trash from Airbnb guests, and 34% said that they have felt less safe in their neighborhood because of Airbnb. This indicates that Airbnb creates a trade-off between the benefits and costs of tourism for the residents. Another effect of Airbnb on Socal’s real estate market is that it alters the character and culture of the neighborhoods where it operates. As more homeowners rent out their properties to short-term guests, they lose the connection and interaction with their long-term neighbors, and the sense of community and belonging that comes with it. According to a study by the University of Southern California (USC), Airbnb hosts in Los Angeles are more likely to be white, affluent, and educated than the average resident, and they tend to rent out properties in neighborhoods that are more diverse, less affluent, and less educated than their own. This suggests that Airbnb creates a gentrification and displacement process that erodes the social and cultural fabric of the neighborhoods. Conclusion Airbnb is a disruptive and innovative platform that offers many benefits and opportunities for travelers, homeowners, and the local economy. However, it also has many impacts and challenges for the real estate market, the rental market, and the neighborhoods in Socal. As Airbnb continues to grow and expand, it is important to balance the interests and needs of all the stakeholders involved, and to regulate and monitor its activities to ensure that it contributes to the sustainable and equitable development of Socal.

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Discover the Tranquil Oasis: Sage New Palm Desert Homes

  Are you yearning for a serene desert retreat that seamlessly blends comfort, style, and natural beauty? Look no further than Sage Palm Desert – a captivating collection of new homes nestled in the heart of Palm Desert, California. Let’s delve into the allure of these remarkable residences and explore why they’re the talk of the town. Embrace Desert Living: Imagine waking up to the warm embrace of the sun, surrounded by the rugged elegance of the desert landscape. At Sage Palm Desert, this dream becomes your reality. These single- and two-story homes are thoughtfully designed to harmonize with their environment, offering a seamless transition between indoor and outdoor spaces. Whether you’re sipping your morning coffee on the patio or hosting a sunset soirée, the desert vista is your constant companion. Stunning Design and Open-Concept Layouts: The homes at Sage Palm Desert exude sophistication. Picture expansive great rooms bathed in natural light, where family gatherings and entertaining friends flow effortlessly. High ceilings, clean lines, and modern finishes create an ambiance that’s both inviting and chic. Whether you’re an art enthusiast or a minimalist, these homes provide a canvas for your personal style. Amenities for Every Lifestyle: Sage Palm Desert isn’t just about four walls; it’s a lifestyle. Residents enjoy access to a community clubhouse, where friendships are forged over morning yoga sessions or lively game nights. Dive into the sparkling pool, unwind in the spa, or host a barbecue – the possibilities are endless. And when you’re ready to explore beyond your oasis, trendy shopping hubs and entertainment hotspots are just a stone’s throw away. Prime Location: Convenience meets luxury at Sage Palm Desert. Situated within walking distance of local shops and restaurants, you’ll find everything you need right at your doorstep. Plus, major freeways connect you to iconic Southern California destinations – from the glamour of Palm Springs to the cultural richness of Joshua Tree National Park. Your Dream Home Awaits: With prices starting from the high $600,000s, Sage Palm Desert offers an exceptional value for those seeking a refined desert lifestyle. Choose from a variety of floor plans, each meticulously crafted to enhance your everyday experience. Whether you’re a first-time homebuyer or looking to downsize, these homes cater to diverse needs. Experience Sage Palm Desert: Ready to make the desert your sanctuary? Contact Casey Erickson at 760.984.9026 for more information or to schedule a tour. Discover the tranquility, elegance, and endless possibilities that await you at Sage Palm Desert – where every day feels like a vacation.

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Airbnb effect on Socal's real estate market

Current Market Report in Palm Desert

  Palm Desert, a major growth center in the Coachella Valley, is a popular retreat for seasonal visitors from colder locations in the Eastern and Northern United States and Canada. With a mix of affordable and high-valued homes, it has seen more residents become “full-timers”, mainly from the coastal and urban centers in California. Housing Market Overview As of October 2023, the Palm Desert housing market was not very competitive. Homes in Palm Desert received 2 offers on average and sold in around 59 days. The median sale price of a home in Palm Desert was $578K, down 4.8% since last year. The median sale price per square foot in Palm Desert was $342, up 0.6% since last year. Recent Market Trends In November 2023, homes in Palm Desert were selling for a median price of $615,000. On average, homes in Palm Desert sold after 29 days on the market compared to 26 days last year. There were 303 homes sold in Palm Desert in November 2023, up from 291 last year. Migration & Relocation Trends Between August and October 2023, 19% of Palm Desert homebuyers searched to move out of Palm Desert, while 81% looked to stay within the metropolitan area. Across the nation, 5% of homebuyers searched to move into Palm Desert from outside metros. Conclusion The Palm Desert housing market offers a variety of opportunities for both buyers and sellers. With its unique mix of seasonal and full-time residents, it’s a vibrant and dynamic market that’s worth keeping an eye on.

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Desert Housing Report August 2023

The Desert Housing Report is a monthly report that provides data and metrics on the resale and new home markets available in the Coachella Valley. The report is composed of two sections. The first section is the monthly home resale report for each of the ten cities in the valley. The second section is the quarterly, city by city, analysis of all land and every housing development.   2023 edition of the report. According to this report, the median price of a detached home in the Coachella Valley at the end of July fell to $669,500, down 6.3% year over year. The median attached price declined $25,000 in July to $455,000 and is now down 6% year over year. The three-month average of sales rose three units this month to 717 units a month, which is now only 74 units less than last year 2. On August 1st, Valley inventory was 1,829 units, which is again down a little more than one hundred units from last month. The Valley’s “months of sales” ratio was 2.8 months, which is .2 month less than last month but .9 months more than last year.   PRICES: The median price of a detached home in the Coachella Valley at the end of July fell to $665,500, down 6.3% year over year. The median attached price declined $25,000 in July to $450,000 and is now down 6% year over year. This monthly decline, while abnormally large, is still within the seasonal pattern. Every city but Desert Hot Springs has a year over year price decline in its average size detached home. The declines range from -4.3% for Coachella to -10.2% for Bermuda Dunes. Desert Hot Springs is higher by 2%. Three cities have positive year over year changes for their attached homes – Indian Wells, Desert Hot Springs and Rancho Mirage. SALES: The three-month average of sales rose three units this month to 717 units a month, which is now only 74 units less than last year. Some of this decrease is seasonal and it’s occurring equally in both the detached and attached market. The largest percentage declines were in Bermuda Dunes, down 40%, and Palm Springs, lower by 18%. Sales numbers in every city continue to improve against last year. INVENTORY & “MONTHS OF SALES” RATIOS: On August 1 st , Valley inventory was 1,629 units, which is again down a little more than one hundred units from last month. The Valley’s “months of sales” ratio was 2.8 months, which is .2 month less than last month but .9 months more than last year. At 2.8 months, this fundamental ratio, which measures supply versus demand, is at a level that represents a balanced housing market. Seven cities now have ratios under three months, which is in the middle of the range of ratios that indicate a balanced market. It continues to be notable how close the ratios are in all the cities. DIM: At the end of July, the median number of “days in the market” in the Coachella Valley was 39 days, compared to 24 days last year. Because of dwindling inventory, we continue to expect this number to gradually move lower. The city of Coachella has the lowest median selling time for detached homes at 17 days, followed by Cathedral City at 33 days, then Desert Hot Springs at 34 days. In the attached market, Desert Hot Springs has the short average selling time at 29 days, followed by Palm Springs at 32 days. PRICE DISCOUNTS/PREMIUMS: In July, 17.9% of homes sold above list price, compared to 48.3% a year ago. The percent this month is effectively the same as last month, and the percent means that about one in every six homes currently sells above list price. Every city but Coachella is averaging a selling discount for detached homes, which range from -.3% in Cathedral City to -2.9% in Rancho Mirage and Indian Wells. Discounts for attached homes range from -.8% in Indio to -6.1% in Bermuda Dunes.

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