Art Under the Umbrellas Salutes Presidents' Day THIS Saturday at Old Town La Quinta

February 15, 2014, 10am to 4pmFree Admission & Free Parking

LQAF will present its next Art Under the Umbrellas show on Saturday, February 15th (Presidents’ Day Weekend) at beautiful Old Town La Quinta located in the Village of La Quinta.

Over 80 Southern California artists will exhibit their original art works in every fine art and fine craft medium. Lively musical entertainment by the effervescent Steve Madaio & Friends will fill the streets as shoppers explore the artist booths and visit Old Town’s trendy boutique shops and restaurants.

Do you really need 20% down on a Jumbo Loan in the Desert?

Earlier, I posted Jumbo Rates were good – well now they are EVEN BETTER!! According to CNN Money, for the 1^st time in 20 years Jumbo Loan rates are at or BELOW conventional mortgage rates!!

To qualify for a Jumbo Loan, you will need at least a 740 credit score (or higher) and at least 20% down – no strike that!! Many mortgage companies have LOWERED their down payment rates to 15%!!

You will need to contact your lender to see exactly what Jumbo Rates are at this time, because they do fluctuate – but now rates for Jumbos are going down.

It's always a good time to buy your home in the Desert!! Call me today!!!

Housing Market Continues to Look Good in 2014

With a good year for the U.S. housing market behind us and 2014 to look forward to, the housing market for the coming year isn’t all roses. But, there are some clear high points for both sellers and buyers.

It’s been 7 years since the worst housing market crash in the history of the United States. As banks were bailed out and the stock market stumbled, home prices continued to fall. It was estimated that by the end of 2011, 31 percent of all U.S. homeowners were underwater in their homes. The past 3 years have seen a slow come back. Here are some things to look for in the housing market in 2014.

Increased Sales

Home sales are expected to grow by 14 percent in 2014. Mortgage rates are still historically low. With consistent increases in the prices of homes in 2013, many feel that the housing market has finally hit bottom and is now on the upswing. This may be enough for people to start thinking about getting back into the market.

In fact, data suggests that buyers are closing on properties faster now. In November 2013, homes were selling 11 percent faster than they were a year prior, according to the latest data from Realtor.com which tracks for-sale listings. In several cities, that rate is even higher. For instance, homes were selling 20 percent faster in New York and Miami, and 18 percent faster in Chicago and Dallas. This may be due to the limited number of homes for sale in some areas and rising mortgage rates that are causing a sense of urgency on the part of homebuyers. As mortgage rates get higher and more people feel comfortable about putting their homes on the market, sales are likely to slow. However, they will still be better than they have been in the past several years.

Rise in Homeowners with Positive Equity

The first quarter of 2012 ended with over 30 percent of homeowners owing more than their homes were worth. However, thanks to rising home prices, approximately 5 million homeowners have positive equity in their mortgages. As many as 10.8 million still have less than 20 percent in home equity, but the numbers in the real estate market and the economy at large are expected to improve in the coming year. The National Association of Realtors® forecasts that prices of existing homes will have risen 6 percent by the end of the year.

It is likely that this year will see a shift from a refinance dominated mortgage environment to one driven by purchases – for the first time in over a decade. “With the close of 2013 will also come a major transition in the housing finance industry,” said Frank Nothaft vice president and chief economist with Freddie Mac. “For the first time since 2000, we’re going to see the mortgage market dominated by purchase activity as the refinance share drops below 50%. And with mortgage rates rising, we’re also going to see the home-sales gains as well as the impressive house price growth begin to moderate to more sustainable levels.”

Now is the PERFECT time to sell (or buy) your home in the Desert – Season is in full swing and there is so much going on bringing in vacationers. And you know, once they land in the Desert they’ll want to keep coming back.

Call me today to see how I will sell your home in the Desert!

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Celebration of Anita Williams “Mom’s” Life

To My Mother “Mom”
Anita Williams
12-10-29 to 1-06-14

In her honor, I am having a “Celebration of Anita Williams “Mom’s” Life on February 20th, 2014 at 6:00 P.M. at the Private Clubhouse at PGA West.

For those who had the opportunity to meet and know “Mom”, please come and celebrate this amazing woman.

For more information click HERE!

The “L” Word is Back into Housing

According to a recent article in the REALTOR® Mag, the housing market is primarily driven by luxury home buyers who have the money to purchase luxury homes. Luxury home buyers have secure and strong incomes and large portfolios …. and they want big homes.

Back in 2007 when MacMansions were popping up all over the place, the median priced new home was 2,295 square feet. However, when the real estate market started declining, home sizes did, too. The Luxury Home sales market dropped 35.5% in 2008 alone. The median size of the Luxury home fell to 2,159 in 2009.

However, as the economy started to turn the corner, luxury homes started to get bigger in 2012 with a new peak of 2,384 square feet and the homes had 4+ bedrooms!

Currently Luxury homes have large gourmet kitchens and massive master suites.

What else is on the check-list of must haves?

• Wine cellars

• Home entertainment rooms | movie-theater seating

• Security Systems

• Home as a 2^nd or Vacation/destination home (lake front, ocean front, golfing community)

The NY Times recently reported about the Luxury housing market, “Affluent buyers have been flocking to real estate, according to the Mortgage Bankers Association, with applications for home loans of $625,000 to $729,000 up 56.7 percent from August 2012 to August 2013. Mortgage applications for more than $729,000 were up 41 percent.”

Now is the PERFECT time to sell (or buy) your home in the Desert – Season is in full swing and there is so much going on bringing in vacationers. And you know, once they land in the Desert they’ll want to keep coming back.

Call me today to see how I will sell your home in the Desert!

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December 2013 home price and sales report

California Association of REALTORS® Press release January 17, 2014

California home sales decline in December as rates move higher and distressed market continues to shrink

LOS ANGELES (Jan. 17) – California home sales fell for the fifth straight month in December as the distressed market plays a dwindling role in the state’s housing market.  Sales for the year were down 5.9 percent from 2012 as tight housing inventory and higher home prices squeezed out would-be buyers, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported.

“We typically see an uptick in distressed sales at the end of the year as lenders try to move these properties off their books,” said C.A.R. President Kevin Brown.  “However, the supply of foreclosures and short sales is the lowest it’s been since well before the financial crisis, greatly constraining the number of these transactions.  In addition, housing prices are improving across the board, even reaching pre-2007 levels in parts of the Bay Area. Higher prices and rising rates as the Fed slowly tapers are additional factors in the sales slowdown evidenced in the December numbers.”

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 361,890 units in December, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  Sales in December were down 6.7 percent from a revised 387,860 in November and down 18.6 percent from a revised 444,770 in December 2012.  The statewide sales figure represents what would be the total number of homes sold during 2013 if sales maintained the December pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.

For 2013 as a whole, a preliminary 413,870 single-family homes closed escrow in California, down 5.9 percent from a revised 2012 figure of 439,790.

Home prices reversed a three-month decline and climbed in December.  The statewide median price of an existing, single-family detached home rose 3.7 percent from November’s median price of $422,210 to $438,040 in December.  December’s price was 19.7 percent higher than the revised $365,840 recorded in December 2012, marking a year and a half of double-digit annual gains and the first time in 15 months that the annual increase was below 20 percent.  The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general change in values.

“While the month-to-month price gain was higher than normal, home prices have been stabilizing in the second half of 2013, which is positive news for buyers who have been putting their home search on hold until prices leveled off,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “California’s housing market experienced strong price growth throughout the year, with the median price surging 27.5 percent for the year as a whole from $319,300 in 2012 to $407,180 in 2013.  But again, the increase in the median price can be partly attributed to the increase in sales of higher-priced properties, where tight inventory was less of a factor.”

Other key facts of C.A.R.’s December 2013 resale housing report include:

• The available supply of existing, single-family detached homes for sale dropped in December to 3 months, down from November’s Unsold Inventory Index of 3.6 months. The index was 2.6 months in December 2012.  The index indicates the number of months needed to sell the supply of homes on the market at the current sales rate.  A six- to seven-month supply is considered typical in a normal market.

• The median number of days it took to sell a single-family home also increased to 40.2 days in December, up from 36.7 days in November and from 38.1 days in December 2012.

• Mortgage rates rose in December, with the 30-year, fixed-mortgage interest rate averaging 4.46 percent, up from 4.26 percent in November and up from 3.35 percent in December 2012, according to Freddie Mac.  Adjustable-mortgage interest rates in December averaged 2.56 percent, down from 2.61 in November but up from 2.54 percent in December 2012.

What does this mean if you want to buy or sell your home in the Desert area?  We’re still in season and many people are coming to the Desert from the cold reaches of cold weather areas … and they don’t want to return home. Call me today to see how you can take advantage of buying or selling in the Desert.

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**All information is from the California Association of REALTORS® for informational purposes only.

Busy Busy Week in the Desert!

[social]Humana Challenge

January 13^th to 19^th, 2014 The Humana Challenge is a partnership with the Clinton Foundation golf tournament featuring many of the top PGA Tour golfers. It is at three Coachella Golf Courses. Brian Grey is defending his title from last year.

Courses:

Host Course - Arnold Palmer Private at PGA WEST Printable Course Map Jack Nicklaus Private at PGA West Printable Course Map La Quinta Country Club Printable Course Map

Click Here for the Tournament Schedule

Tournament Courses

Arnold Palmer Private at PGA WEST (Host Course)

Jack Nicklaus Private at PGA WEST

La Quinta Country Club

  It’s always fun to attend the Humana Challenge and a great reason to have a home in the Desert! Contact me today to see some great home in any of the PGA West courses.

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Other FUN Things to do in La Quinta!

Certified Farmers' Market Now Open for the 2014 Season!! 8 a.m. to 12:30 p.m.

Enjoy the bounty of local growers and producers, slow food demonstrations by popular chefs, and vital education. It's all about eating well and being healthy.  On Main Street, from 8 a.m. to 12:30 p.m.  Live music.  Free admission and parking. For more information on the Certified Farmers' Market, go to certifiedfarmersmarket.org.  Sponsored by The Palm Springs Cultural Center.

Riverside County Sales for December 2013

 

Click HERE for more details

Art Under the Umbrellas Starts THIS WEEKEND!

Presented by La Quinta Arts Foundation

Come to Old Town January 11, 2014 for this charming one-day event, from 10am to 4pm,  located along the closed-off streets of this charming outdoor venue reminiscent of colonial Mexico. This makes for an enjoyable day outdoors perusing artist wares, exploring Old Town shops, and dining in Old Town restaurants. Art patrons will find quality artwork, while tourists will discover treasured mementos.

Featuring over 80 artists. Live Music. Free Admission.  Free Parking. Visit the La Quinta Arts Foundation website for more details and map.

Upcoming Shows

• January 18, 2014 MLK Holiday Weekend
• February 1, 2014
• February 15, 2014 President’s Day Weekend
• March 22, 2014 Spring Break 

**All above information is form the La Quinta Arts Foundation for informational purposes only. - follow them on Facebook, too!!

What’s in store for interest rates in the Desert in 2014?

Projections are out for interest rates for 2014 – interest rates will be going up. If they go up significantly, the real estate market will be affected. The chief economist of the National Association of Realtors, Lawrence Yun outlined his housing-market forecast for 2014 at NAR’s annual conference, predicted existing home sales will remain flat at roughly 5.1 million units, prices will rise by 6% and interest rates, currently at 4.16%, will jump to 5.4% by the end of next year.

Yun also said with higher mortgage interest rates, he expects refinancings to collapse in 2014 to the lowest level in at least 15 years, and hopes purchase applications will begin to rise. “This is an incentive for banks to increase mortgage origination, especially considering the low default rates in recent years. But even with cheap mortgages for the past four years, all-cash buyers stayed high, accounting for over 30 percent of sales.”

However, with the new lending rules for Qualified Mortgages to go into effect this month, it may hinder lending even further. This may prohibit even more loan features, enforce even tighter loan limits and may require lenders to show borrower’s ability to repay – in other words, it may tighten the ability to secure a mortgage.

As we saw in 2013, the higher the mortgage rate, the fewer homes purchased. Unfortunately, the forecast is for this trend to continue, slowing the recovery. The rate on the U.S. Treasury note is also trending up for money borrowed by consumers and businesses, which may also hinder the recovery.

However, as gloomy as this sounds, NOW is a better time to purchase your home in the Desert than later. Call me at 760-567-728 today and let’s go over your buying options in the Desert – Historically, the Desert’s “Season” is one of the best times to buy & enjoy a home in La Quinta.

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November Housing Sales in the Desert

Coachella Valley single family homes and condo median home price increased to $265,000 from $249,000 in November, a 6.4% increase over October and 23.5% increase over last year.

745 homes sold in the Desert 7.7% fewer than last year.

Single family home sales were down 18.8% from last year.

Median price for homes in the Desert:

La Quinta - $380,500

Palm Springs - $287,000

Coachella Valley - $250,000

Riverside County - $275,000

Inventory was low throughout the Desert area in November contributing to the decline of home sales. Generally during the summer months, inventory consists of a three month inventory. However, inventory generally lasts about 5.5 months during the winter months.

According to a recent article on MyDesert.com, John Burge, president of the Palm Springs Regional Association of Realtors, expects the high end of the market to pick up in January.

During the summer, the desert hovered around three months of inventory. In November, the inventory increased to about five and a half months, according to the California Desert Association of Realtors.

Inventory increased from 2,418 single-family homes and 1,070 condos in October to 2,671 single- family homes and 1,238 condos for sale in November, according to the REALTOR® Association.

Whether you are buying or selling in La Quinta and surrounding area, give me a call. There Really IS Something About Mary! Call me today to find out!!

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Come Enjoy some
FUN HOLIDAY ACTIVITIES at
The La Quinta Resort & Hotel
Stroll any evening at the resort, view the largest Christmas tree lit up
and relive "It's a Wonderful Life"
or
Friday, Dec. 20th
Chestnuts Roasting on an Open Fire
or
Saturday, Dec. 21st 3-4pm
Holiday Cooking Class
Call 760-564-4111 to RSVP
or
Sunday, Dec. 22nd 6:30pm
Twenty 6 Restaurant
has the Best Hot Chocolate Ever!

All above information is from pam@justsignmeup.com - and is for information only.

December 2013 Newsletter

Riverside County November Sales

Buy Now in the Desert or Wait?

Desert Luxury Realty

The year 2013 can be categorized by a significant turnaround in the housing market across the nation. While lack of homes available for sale constrained home sales in many markets across California, it contributed to a substantial increase in home prices. Existing single family sales for 2013 are predicted to fall 2.1 percent short of 2012 sales, yet median home prices are expected to show a 28 percent improvement over 2012--with the median reaching $408,600.

The increase in home prices coupled with a percentage point increase in mortgage interest rates led to a sharp decrease in affordability. Despite decreased affordability, current market conditions still warrant buying a home sooner rather than later.

First, interest rates are still at historical lows but are poised to increase in 2014. Over the past year, mortgage interest rates increased by about one percentage point, from about 3.5 percent to 4.5 percent. On average, a half percentage point fluctuation in the mortgage rate changes the payment by $100 per month on a median priced home of $415,770. Most of the predictions for 2014 put the 30-year fixed rate mortgage at 5.3 percent (see Figure 1).

While interest rates have moved down since their spike during the summer, the uncertainty over the Fed’s policies makes it difficult to hope for any improvement in interest rates. The Fed's bond buying is the key consideration--not just the tapering, but the general pace of withdrawal. While tapering was considered certain in September, December 2013 is now an increasingly possible date after the most recent employment report showed marked improvement in hiring.

The second reason to buy a home sooner has to do with the new lending rules going into effect on January 1, 2014 which are set to raise the cost of borrowing. The ability-to-repay rule and the associated qualified-mortgage definition will raise the overall cost of originating home loans, with borrowers taking the brunt of the financial hit.

There are two other important market conditions to keep in mind. We started the year with a heated market that was at times described as ”a bubble”. Since the autumn, the housing market has cooled off. On one hand, due to decreased affordability and increased mortgage rates, demand for housing has subsided and bidding wars are not as frequent or as aggressive as we saw earlier in the year. Additionally, inventory of homes for sale has shown improvement with more homes on the market now. These two conditions suggest a more favorable market for buyers and one that resembles a shift towards a “normal” market.

Still unsure? Call me at 760-567-728 today and let’s go over your options – Historically, the Desert’s “Season” is one of the greatest times to buy & enjoy a home in La Quinta.

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** All above information is from the California Association of REALTORS Snapshot

What to Trash at Home and What Not

[social]Whether you’re getting ready for the Holidays or moving, there are times you will want to know what you should toss out … or not. This list may help as you go through your things.

The expiration dates on medicines and food have been in the news lately. Most manufacturers of such products admit that the ‘sell by,’ ‘best by,’ and ‘best before’ dates have nothing to do with the safety of the food. A survey done by the NRDC together with Harvard University Food Law and Policy Clinic found that the current system of expiration dates is very confusing to the customer. It leads 9 out of every 10 Americans to prematurely throw away food. This “Dating Game” has to stop and there is a need to establish standard, clear language for quality and safety, they recommended.

What about the bigger items in your house? Do they have expiration dates as well?

Many things around the house have expiration dates; it’s just not stated anywhere.

Pillows –To check if a pillow is past its prime, most people just look at the cover. If you fold a pillow in two and it doesn’t bounce back, experts say it’s time to replace it.

Mattress – Do you know when your mattress is past its best? As long as there are no lumps and valleys on the surface, most would say. But they don’t take into account the dust mites accumulating in the mattress over the years. Experts suggest to change a mattress every 10 years or so.

Toothbrush – Regardless of their condition, toothbrushes must be replaced every 3-4 months. After that, they become a bacteria bed.

Mascara – To perform as it’s meant to, the mascara should not be older than 3 months.

Lipsticks – Lipsticks are breeding ground for bacteria. They should be thrown away after 2 years.

Liquid Makeup – This should be replaced every 6 months.

Facial Cleansers – Most cleansers expire after 6 months.

Towels – Towels that you use every day are expected to last 2-5 years.

Dish Washers – These are expected to last 9-11 years.

Washers – Washers can last 10-11 years.

Dryers – Dryers can last as long as 10-13 years.

Here are some household things you should not throw in the trash.

Batteries – We’re talking about the rechargeable, lithium-ion batteries. Household batteries post 1997 can be thrown into the trash.

Electronics – Again, some contain hazardous materials that are better recycled.

Energy Efficient Light bulbs – These contain small amounts of mercury, meaning they must be disposed of safely. Most hardware stores collect them.

Used Paint – Liquid paints and solvents are dangerous and flammable. They should either be recycled or allowed to dry completely; by keeping the can of paint open. Once it’s solid, you can throw it in the trash.

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Happy Thanksgiving! 2013

" As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them." ~ John Fitzgerald Kennedy

Color Trends for 2014

Many of the major paint companies have already released their new paint line ups for 2014. Pantone also announced its Fashion Color Report for spring 2014 in September. The color that appears to be the favorite for 2014 is blue. Muted, serene, and simplicity were the words used to describe this year’s color line up by paint giants Benjamin Moore and Sherwin Williams. From Pantone’s report, their palate ranged from muted and simplistic to vivid and bold. While making color decisions based on trends isn’t always a good idea, it’s a nice place to start looking for colors that maybe around for a while.

Why look to the paint companies for color trends?

Paint companies can track what’s happening in color trends in real time. Based on what consumers are buying, and tracking the slightest change in what’s being purchased, they can predict where the trend is heading. Their forecasts are built on this information and can be the most current look at what people are truly looking for in colors for their homes.

Sherwin Williams

In Sherwin Williams’ 2014 Color Forecast, they offer four pallets, each with their own intrinsic personalities:

-Reasoned – a neutral pallet with nice grays with layer subtle undertones. One to watch from this would be Crushed Ice (7647). It’s a warmer gray that is simple without being sterile.

-Diaphanous – soft smoky colors that are light, delicate, and ephemeral. A nice selection here would be Balanced Beige (SW 7037)

-Intrinsic – a riot of colors that evoke the feelings of a fiesta. Georgian Bay (SW 6509) would be a good choice for staying with the 2014 trend of blue.

-Curiosity – “Where mad science meets fantasy.” The colors are muted with mostly dark blues, browns, and grays.

Benjamin Moore

In their Color Trends 2014, Benjamin Moore presented Breath of Fresh Air (806) as its 2014 color of the year. A bit lighter than their ever popular Palladian Blue (HC 144), it will prove to be a go-to color for any room. The colors offered are a wonderful array of neutrals that will match each other, so that each room will work with and transition into another. The colors are softer and lighter, without being too “candy” or “Easter Egg.” Another color to watch from Benjamin Moore is Van Deusen Blue (HC-156), which pairs well with Breath of Fresh Air.

Pantone

The color juggernaut Pantone is the global authority on color and provides professional color standards for design industries. When they talk colors, people listen. The 10 colors that they’re talking about for the women’s spring fashion line up include:

-PANTONE 15-3920 Placid Blue

-PANTONE 16-3823 Violet Tulip

-PANTONE 15-6114 Hemlock

-PANTONE 16-0000 Paloma

-PANTONE 15-1225 Sand

-PANTONE 14-0852 Freesia

-PANTONE 18-1651 Cayenne

-PANTONE 17-1360 Celosia Orange

-PANTONE 18-3224 Radiant Orchid

-PANTONE 18-3949 Dazzling Blue

When looking for color trends, remember that it’s easier to change clothes than it is to change the color of paint on the walls. The colors may be a bit more risky, because there’s less commitment. This can be seen in Pantone’s offering of pairing pastels with bright hues. Remember that in the end, it’s about what color palette appeals to you and makes you feel at home.

If you are thinking about a remodel, redesign, or reorganizing; then I am your redesign professional!

If you are considering selling your property, and you think it needs staging; I am your neighborhood professional!

Call me at 760.567.7282 and Follow me on Facebook!!

October Homes Sales in Riverside County

Happy Veterans Day!