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We had occasional problems over the weekend with accessing our shopping cart on the website. If you were on line while those problems were happening, they are now fixed!

The calendar sales are off to a brisk start. Remember, we are offering a discount of $5.00 off the publisher’s price
PLUS when you buy from the website directly you are actually supporting Jeff’s ability to continue photographing beautiful men! So visit the website today… order one for yourself and maybe one or two as gifts!

http://www.jeffpalmer.com

Also, there is only one copy remaining of the special offer very unique hard-cover book. Click on the Special Offers link from the main page or the drop down menus…

While you’re on the website take a minute to look at the books, posters, and cards selections as well!

Have a great day.

Joe
for jeffpalmer.com

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Hello BlogPost by email WordPress.com Post by Email

It’s that time of the year again!

Time to order your 2014 Jeff Palmer Calendar for your home and for holiday gifts. (I know, I know… the holidays seem forever away! But they’ll be here before we know it!)

Once again this year we are offering a discount when you buy directly from us — save $5.00 on each calendar ordered. You pay just $19.99. Designed to better feature the beautiful and sensual black and white images by photographer Jeff Palmer, the 2014 calendar is 11 3/4 by 16 3/4– large fine art images that will take center stage in your home or office!

Also be sure to check the VERY LIMITED special offer on a 160 page hard-cover book that features a few of Jeff’s very unique images. There are just three copies of the book available… follow the link to the Special Offer page from the What’s New page at jeffpalmer.com

Also be sure to see the images of Jeff’s latest handsome model – Franceso – on the Recent Shoots page. Be careful, he could steal your heart!

Help us get the word out about the calendars… post something on your Facebook page, tell your friends, pass this email along. It all helps!

Thank you very much.

Jeff

http://www.jeffpalmer.com

Welcome to my first 2013 blog post!

I’m going to be much more attendant to the blog this year.  There is so much happening in the market right now.  It has exploded – prices are up – inventory is down.  For those who have been waiting for the bottom — it happened about 6 months ago.  If you’re interested in having a place in Palm Springs or Coachella Valley — contact me now.  Prices are still low and interest rates are at near historic lows…

Here is a recent article from our local newspaper — The Desert Sun.
Coachella Valley home sales, prices continue rise
Written by Mike Perrault The Desert Sun
Jan 05
mydesert.com
Home sales, prices up

Here’s how home sales and prices fared in November compared to November 2011 across the state:
Coachella Valley
Median price: $218,000, up 21.1 percent
Sales volume: 793, up 6.4 percent
Riverside County
Median price: $229,000, up 17.4 percent
Sales volume: 3,274, up 10.2 percent
Southern California
Median price: $321,000, up 16.7 percent
Sales volume: 19,285, up 14. 2 percent
California
Median price: $291, 000, up 19.3 percent
Sales volume: 37,481, up 14.7 percent

The Coachella Valley’s housing market continued its recovery last month with a jump in sales and a fifth straight month of double-digit, year-over-year percentage price increases, a new report shows.

The median price — half sold for more, half for less — of a home in the valley rose 21 percent to $218,000 in November, San Diego-based real estate information services firm DataQuick reported.

Nearly 800 homes sold last month, a 6.4 percent increase over November 2011.

The trend of price increases and improving sales was seen statewide. Sales rose 10.2 percent in Riverside County and 14.2 percent in Southern California, DataQuick reported.

Some 37,481 homes sold statewide last month, a 14.7 percent increase from a year ago, and California’s median price jumped 19.3 percent to $291,000 from $244,000 in November 2011.

Don Faught, president of the California Association of Realtors, said housing markets with higher priced homes performed better last month compared with lower priced areas.

“The negative impact of a lean housing supply on home sales is becoming more apparent, especially in markets with more distressed properties,” Faught said. “In lower-priced markets, home sales declined, whereas sales of mid- to higher-priced homes posted strong increases because there is greater supply.”

Nationally, sales of previously owned homes rose 14.5 percent in November to a seasonally adjusted annual rate of 5.04 million units, the highest level in three years, the National Association of Realtors (NAR) reported.

A sharp decline in inventory is again beginning to give sellers some bargaining power in some markets, NAR analysts said.

DataQuick analysts said sales for all of Southern California were the highest in six years amid strong demand from investors and move-up buyers.

Higher demand, triggered largely by ultra-low mortgage rates, has coincided with the dwindling supply of homes for sale to push up prices, said John Walsh, DataQuick’s president.

“That’s not the only thing fueling these sales gains,” Walsh said. “Investor activity and cash purchases remain unusually high, and more buyers feel confident about their jobs, the economy and the likelihood housing prices have bottomed and are likely to rise. We’re also seeing more non-distressed sales, where people sell at a profit and buy another house, triggering more move-up activity.”

About 33 percent of single-family home sales in the valley were distressed properties in November, down from 57 percent the same month a year ago, according to a separate report from the California Desert Association of Realtors (CDAR).

Only 18 percent of condo sales were foreclosures or short sales, down from 35 percent a year ago, CDAR reported.

Canadian commercial contractor Michael Simonot and his wife, Lynn, from Calgary, were able to snag a foreclosed Rancho Mirage home by making a bid immediately after it came onto the market.

New home purchases continue to make up just a small share of overall sales, with about 500 expected sales this year in the Coachella Valley compared to peak years such as 2004, when 5,535 new homes sold, or 2005 with 5,490 new-home sales.

Ann Ritchie, CDAR vice president in Palm Desert, said average prices have been rising for several months, and sales are continuing to outpace available inventory.

“There are ready, willing and able buyers, but they are cautious,” Ritchie said. “They are looking for well-priced properties that are updated and have been well-maintained.”

There were about 2,063 single-family homes and 877 condos listed for sale on the Desert Area Multiple Listing service, up from 1,815 single-family homes and 767 condos in October, CDAR analysts said.

But the valley’s inventory has plummeted compared to November 2010, when there were 6,259 homes for sale, or November 2007 when there were nearly 9,600 on the market, CDAR reported.

Similarly, the inventory of homes for sale nationally fell to just over 2 million in November, the lowest level since the end of 2001, NAR reported. The Realtors’ group said it would take 4.8 months to sell that supply, and that it considers a balanced market to have a 6-month supply of homes.

Jim Franklin, broker associate with Prudential California Realty in Palm Springs, said some homeowners have chosen to keep their properties off the market rather than accept lower prices than what they paid.

Area Realtors said after the housing bust, home values plummeted so much that many homeowners owe more than what their residences are worth. Others still don’t have enough equity to sell their home and make a down payment on another property.

Inland economist John Husing said about 44 percent of homes with a mortgage in the valley were “under water” in the second quarter, according to the online real estate information tracking firm Zillow.

Nationally, there are fewer first-time buyers because they face tighter credit requirements and often must compete with eager investors. A survey of 3,000 agents showed first-time buyers accounted for 31 percent of sales from Oct. 22 to Nov. 5, for instance, when it’s normally closer to 40 percent of the market.

In the valley, condo sales rose 18 percent last month, DataQuick reported, with the median price increasing 8.1 percent to $186,750. The median price for previously owned homes rose 25.6 percent last month to $226,000.

CDAR, which tracks sales differently based solely on the Desert Area Multiple Listing Service, reported the average sale price for a condo rose to $179,600 last month from $166,000 in November 2011.

CDAR reported the average sale price of a single family home (excluding foreclosures and other distressed property sales) fell to $428,600 from $440,600 the same month last year, which Ritchie described as “somewhat of an anomaly.”

Kevin Stern, president of the Palm Springs Regional Association of Realtors and Desert Star Real Estate, said sales continue to be robust even as some purchases get sidelined or nixed because appraisals come in below the agreed-upon price.

“That remains a challenge,” Stern said. “I had two deals in two months fall through.”

Leslie Appleton-Young, CAR’s chief economist, said sales and price increases will “remain solid” as the new year approaches, although the state’s housing sector remains dependent on Congress preserving the mortgage rate interest deduction for homeowners.

http://www.mydesert.com/apps/pbcs.dll/article?AID=2012312240007&nclick_check=1

 

 

For your reading enjoyment….

I’ve attached the latest articles on some real estate trends.

I’ve also researched detailed local trends and included those.

This market shows no signs of falling back. Our local market, as well as many other markets are experiencing an unusual phenomenon. First the investors came back to the market. Properties started getting multiple bids. Seeing this movement – buyers who had been waiting for the bottom to hit and those sitting on the fence – jumped in. This caused our inventory to reach lows it hasn’t seen in years. And the inventory looks like it might remain low due to what has happened during the last 4-5 years. There are many would be sellers who would like to sell their homes but will experience a considerable loss because they owe more than their home is worth. They are not in any danger of losing their home, but they want to not lose money.

So they are waiting for prices to rise.
The result is that the inventories will remain low. And with that old law of supply and demand – prices have and will continue to rise. Driven by a too many buyers for too few properties.
I know many of my clients who want to buy — need to wait for their homes to sell in order to purchase a home. That has to be frustrating. But for those of you that are sitting on the fence – I would urge you to look at the listings as I send them. The choices will probably not be as plentiful as you wish and that “perfect” property might not appear so look at the listings and see if a home can be modified or your wish list can be modified to fit your plans.I think the days of a large inventory with plenty of homes to choose from is gone. There might be a small spike as the season gears up but the number of buyers will also increase as it always does.

So look at the articles and graphs and let me know if you have any questions.

Jeff

This market requires being prepared and taking quick action.

So here is a “to do” list to allow you to be ready to make an offer

in this competitive market.

Cash Buyers

Have a Proof of Funds ready

Have a copy of a bank account or investment account current and ready.

You can black out any identifying account numbers — they just need to

see the amount and your name.

When you are making a cash offer — most sellers now require a

Proof of Funds when you submit your offer.  Bank owned properties and

Short Sales demand it.

Buyers who will get a loan

Get Pre-approved… not pre qualified.  No one accepts being pre-qualified any more.  Pre-qualified is a simple phone call to a lender where very little information is given and then the lender writes a pre-qualified letter.

  • Pre-approval is more involved and usually requires an appointment.In this step, the lending institution gathers all the information it requires to offer you a loan, and your credit report will be checked.  You’ll need to bring some items with you to document your identity and your assets:
    1. A copy of your most recent bank statements (this includes your daily checking account as well as any money market, savings or other accounts)
    2. Your most recent W-2 (or entire tax return if you’re self-employed)
    3. Proof of IRAs or retirement accounts and their current balances
    4. Ditto for any stocks or mutual funds you own outside of retirement accounts
    5. Your driver’s license
    6. The most recent month’s paystub(s) from your job
    7. An application fee (this depends on the lender)
    8. You are not committing to this lender — you can still use whomever you want.

And once again, have Proof of Funds ready

For those obtaining a loan — this will the same as for a cash buyer but you would just need to show where the downpayment is coming from.

Canadian Buyers

Establish a US bank account.

When your offer is accepted, it is much easier to deal in US currency.  With an accepted offer — you have 3 days to send Escrow earnest money (usually 3% of the purchase price).  It’s much easier to either write a check on US funds or wire it from a US bank.

You can obtain a loan.

There are now some lenders that will loan to Canadians with 30% down.  If this interests you — I can give you that info.

OK — there’s your homework!  If you have the necessary items ready — when we see a property you want to make an offer on — you will be able to get that offer in to the listing agent and considered in a very short time.  And in this market which is getting multiple offers on some properties — that’s the difference between being considered or being too late.

Hope this helps.  Get back to me with any questions.

Who was Tahquitz?

Tahquitz lends his name to many locales in the desert.  Tahquitz Way is a major street connecting the airport to downtown.  Tahquitz River Estates is the laegest of the official neighborhoods in Palm Springs and contains many spanish homes from the 30’s and 40′ along with midcentury homes from the 50’s and 60’s.

They all get their name from a shaman of the Cahuilla band of native americans that called the area, now known as Palm springs, home. Tahquitz was the first shaman created by Mukat, the creator of all things. Tahquitz had much power, and in the beginning he used his power for the good of all people. Tahquitz became the guardian spirit of all shamans and he gave them power to do good. But over time, Tahquitz began to use his power for selfish reasons. He began to use his power to harm the Cahuilla People. The people became angry and they banished Tahquitz to this canyon that now bears his name. He made his home high in the San Jacinto Mountains in a secret cave below the towering rock known today as Tahquitz Peak. It is said that his spirit still lives in this canyon. He can sometimes be seen as a large green fireball streaking across the night sky. The strange rumblings heard deep within the San Jacinto Mountains, the shaking of the ground, and the crashing of boulders are all attributed to Tahquitz as he stomps about the canyon.  Another legend says that he is the dustdevil searching for souls to bring back up into the canyon.

The Promontory is the massive rock structure above the O’Donnell golf course – it was constructed as a make-work project during the Depression to give locals a job. O’Donnell paid $2.50 a day for anyone in need, to stack stone in order to construct its massive walls.  It’s amazing rock work has stood the test of time — including several earthquakes.  A crypt was tunneled into the mountain for O’Donnell and his wife but then found out they could not be buried there because it was against the law.  When I was kid — the local churches used it for Easter Sunrise Services.  By the way – it’s for sale for $1,495,000 – give me a call if interested…