Vacation Home Sales SURGE in 2013!

According to a recent survey by the National Association of REALTORS®, vacation home sales increased a lot in 2013.

Vacation home sales                           +29.7% (13% of all transactions)

Investment home sales                      -8.5%

Owner-occupied homes                   +13.1%

According to the report, “NAR Chief Economist Lawrence Yun expected an improvement in the vacation home market. ‘Growth in the equity markets has greatly benefited high net-worth households, thereby providing the wherewithal and confidence to purchase recreational property. However, vacation-home sales are still about one-third below the peak activity seen in 2006.”’

All-cash purchases remained pretty common in the vacation home market with 38% of vacation home buyers paying cash.

The survey went on to report, “The typical vacation-home buyer was 43 years old, had a median household income of $85,600 and purchased a property that was a median distance of 180 miles from his or her primary residence; 46 percent of vacation homes were within 100 miles and 34 percent were more than 500 miles. Buyers plan to own their recreational property for a median of 6 years, down from 10 years in 2012.”

• 8 out of 10 vacation home buyers said now was a good time to purchase a vacation home

• According to the U.S. Census Bureau, 8.0 million vacation homes exist in the United States.

So what does this mean for you?

NOW really is STILL a great time to buy your vacation/ home in the Desert.

Whether you are looking for a vacation home or investment, give me a call. I will help you find the right property for your needs!!

Friend me on Facebook!

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

Financing Trends in California

California Association of REALTORS®

From the National Association of REALTORS® PROFILE OF HOME BUYERS AND SELLERS 2013

Home Purchase Financing

• 80% of home buyers financed their recent home purchase. Among those who financed their home purchase, buyers typically financed 90%.

• The share of first-time buyers who financed their home purchase was 95% compared to 86% of repeat buyers.

• More than 50% of home buyers reported they have made some sacrifices such as reducing spending on luxury items, entertainment or clothing.

• 24% of buyers reported the mortgage application and approval process was somewhat more difficult than expected and 16% reported it was much more difficult than expected.

• 12% of buyers overall cited saving for a downpayment was difficult. 43 % of buyers reported student loans, 38 % reported credit card debt, and 31% car loans as the reason for the difficulty.

Jumbo Loans are another Financing Option in the Desert Area

• Lenders are eager to comply with the Luxury Homebuyers when it comes to underwriting Jumbo loans. According to Inman News, Jumbo loan rates and terms have relaxed over the last 12 months to the point, they are very competitive to the interest rates for conventional loans. Lenders seem to be more confident about home prices.

Even though we’re getting late in the Season, NOW is still a great time to purchase in the Desert and there are great homes on the market right NOW! Contact me today!!

Like me on Facebook!!

Is it a dresser or shoe cabinet?

From Mary Williams Interior Redesign 

Sometimes there just isn’t enough room for storage. Rooms start looking cluttered, things get harder to find and the entire house starts feeling unorganized. Below are some clever ideas to keep your home running smooth, organized and looking great.

Guest Picks: Space-Saving Multipurpose Furniture

-->

General contractors, home builders, and more. Consider a versatile murphy bed when looking for guest bed furniture, find well-designed task chairs, and work with a contractor in your area to create a fun yet functional home office. Work with a home decorator when choosing area rugs or hanging new window treatments in your 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!

 Follow me on Facebook!!

Where do you use the most water?

It’s never our intension to waste water, but water waste can show up in the simplest  places.

Even though the Desert has a very good supply of water close by, we still need to conserve.  According to a recent Desert Sun article, "We're not going to make normal rainfall this winter," said Richard Minnich, a professor in the Earth Sciences Department at UC Riverside. "We are in what's called a La Nada — the neutral phase of the El Niño cycle. Neutral behaves like La Niña. The last El Niño, the last wet year was 2010-11, and we've been dry ever since."

• The Governor has urged the state to conserve water.

• The Coachella Valle Water District has a lot of information on how to conserve water.

• The Desert Sun has launched a new column that takes a closer look at how we use — and abuse — water in the Coachella Valley.

Other Ideas how to save water in the Desert:

From Waterusitwisely.com:

• When washing dishes by hand, don’t let the water run. Fill one basin with wash water and the other with rinse water.

• Dishwashers typically use less water than washing dishes by hand. Now, Energy Star dishwashers save even more water and energy.

• If your dishwasher is new, cut back on rinsing. Newer models clean more thoroughly than older ones.

• Time your shower to keep it under 5 minutes. You’ll save up to 1,000 gallons per month.

• Toilet leaks can be silent! Be sure to test your toilet for leaks at least once a year.

• Put food coloring in your toilet tank. If it seeps into the bowl without flushing, there’s a leak. Fix it and start saving gallons.

• When running a bath, plug the bathtub before turning on the water. Adjust the temperature as the tub fills.

• Upgrade older toilets with water-saving WaterSense® labeled models.

The National Geographic website has some great tips and ideas for conserving water –

• Did you know a professional car wash uses 35 gallons per wash – washing it yourself can use up to 140 gallons! Plus it washes oil and gunk into the city drains.

Click here for more National Geographic Tips

The Desert's February Housing Market

[social]Statewide home sales in California fell in February; however, more homes were listed statewide during that same time – showing sellers are gearing up for a robust spring selling season.

Even though 2014 started with weaker sales numbers, “The slower sales in February reflects diminished housing affordability after three years of solid price increases and interest rates that are nearly a full percentage point higher than a year ago,” said C.A.R. President Kevin Brown.  “With the interest rate difference alone, home buyers this year would have to pay $150 more per month on their mortgage payment than last year, a substantial amount for many would-be home buyers trying to get into the market.”

The median home price was 1.6% lower in February ($404,250) than in January ($410,990). HOWEVER, February 2014 median price ($404,250) was 21.3% higher than February 2013 ($333,180).

“Supply conditions in the housing market have shown some improvement since the end of last year, except for the lowest price range where the inventory for distressed properties is depleted.  In the mid-priced range of $300,000-$750,000, which covers nearly half of all home sales, inventory is up 27 percent, while the supply of high-end homes – properties priced at or above $1 million, also is up 13 percent from a year ago,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “The improvement in these prime price ranges will benefit trade-up buyers who are expected to dominate the market in 2014, as many of them will be searching for homes in these price categories.”

Other key facts from C.A.R.’s February 2014 resale housing report include:

• Housing inventory improved in February, with the available supply of existing, single-family detached homes for sale rising in February to 4.7 months, up from January’s Unsold Inventory Index of 4.3 months. The index was 3.6 months in February 2013.  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 fell to 40 days in February, down from 44.3 days in January but up from a revised 34.3 days in February 2013.

• Mortgage rates were lower in February, with the 30-year, fixed-mortgage interest rate averaging 4.30 percent, down from 4.43 percent in January but up from 3.53 percent in February 2013, according to Freddie Mac.  Adjustable-mortgage interest rates in February averaged 2.54 percent, down from 2.54 in January and down from 2.61 percent in February 2013.

How would your home do in today’s housing market in the Desert? Contact me today and I will go through your entire home listing details and what I will do to sell your home now.

Follow me on Facebook!

Mary's March Newsletter

Spring Ahead Sunday March 9th!

Daylight Savings Begins March 9th Turn Your Clocks AHEAD an Hour!Change your Batteries in your Smoke Alarms, too!

LA QUINTA ARTS FESTIVAL - The #1 Fine Art Festival in the Nation!

Experience the #1 Fine Art Festival in the Nation!!

THURSDAY, MARCH 6 - SUNDAY, MARCH 910 AM to 5 PMLA QUINTA CIVIC CENTER PARK

Press release from the La Quinta Arts Festival - La Quinta, CA  -January 9, 2014

A designation not previously achieved by any other show, La Quinta Arts Festival has earned the #1 in the nation ranking for both Fine Art Festival and Fine Craft Festival.

La Quinta Arts Festival has been named the #1 Fine Art Show and #1 Fine Craft Show in the country  for 2014 by the prestigious Art Fair SourceBook, the definitive guide to the best juried arts and craft fairs in the nation.

“We could not be more proud to once again find ourselves at the top – hosting as Premier Sponsor the #1 Fine Art Festival AND the #1 Fine Craft Festival in the United States,” La Quinta Mayor Don Adolph stated. “It means so much to be recognized by the artists themselves as the foremost destination and showcase for both fine art and fine crafts in the nation.”

The 2014 La Quinta Arts Festival is scheduled for March 6-9 at the La Quinta Civic Center Campus.  This year’s Festival will feature 234 contemporary artists from 36 states; plus Israel, Nicaragua and Canada are also represented; 51 are new artists to the Festival, exhibiting in the Coachella Valley for the first time.

The La Quinta Arts Festival claimed the most recent year’s premier rating and distinction over competing fine arts and fine craft festivals in major markets including Chicago, Denver, Dallas/Fort Worth, Philadelphia, Washington DC and others.  Art Fair SourceBook announced the top ranking for La Quinta after comparing total sales information and ratings from participating artists from all shows across the country, confirming La Quinta Arts Festival prevailed for the second year running.

The annual fine art and fine craft festival rankings, now in their 20th year, recognize festivals that outsell their peers and deliver exceptional quality of experience in unparalleled settings. This year’s best festivals ranking highlights the top 10 festivals in both fine art and fine crafts out of thousands of events held nationwide for singular performance and quality.

“We are grateful and honored to again be recognized for the outstanding work of our staff and volunteers on behalf of the artists and patrons who look to La Quinta Arts Festival each year to deliver the best of the best,” said Christi Salamone, executive director of La Quinta Arts Festival and its organizer La Quinta Arts Foundation (LQAF). “Our goal is to offer each artist and each patron a unique experience, showcasing the highest quality and diversity of fine art and fine crafts in an unmatched, beautiful desert setting.”

The Best Fine Art Festival and Best Fine Crafts Festival ranking highlights festivals that sell the most art and crafts and offer the highest quality experience. This is the second year in a row the La Quinta Arts Festival outperformed all peers to achieve the #1 ranking for art sales in the nation.   Adding the top ranking for fine craft festivals this year doubles the distinction.

“We have never had a festival achieve the #1 ranking in both fine art and fine crafts so this is a special honor for La Quinta Arts Festival,” Greg Lawler, Editor and Publisher of  Art Fair SourceBook, www.artfairsourcebook.com, stated.  “Top sales numbers, along with the quality of the experience earns La Quinta a well-deserved repeat at the top and another number one national destination ranking — and all in THE most beautiful setting for an art fair anywhere!” 

La Quinta has been among the best destinations for fine art for more than three decades. The ranking is determined by the average sales of each artist. During the 2013 event, La Quinta Arts Festival set new event records for art sales, exceeding $2.8 million, and increased daily attendance over the previous year. The success of the Festival has also generated more than $1.1 million over the years to support college scholarships for students pursuing degrees in the arts.

“By all measures, 2013 was another outstanding year for La Quinta Arts Festival,” said LQAF Executive Director Christi Salamone.  “The diversity, quality and expertise of our artists consistently deliver a first class show that generates higher average sales per artists than any other show in the country.”

Audiences for the La Quinta show range from the sophisticated buyer and collector to the casual local art buyer and tourists who come knowing the juried La Quinta show is fresh, constantly evolving and features the finest artists.  Unlike most other fine art festivals, La Quinta seeks highly qualified experts with specific knowledge of the nine individual art mediums under consideration; forty-five judges in total participate, contrasted with the standard five to ten judges for other shows.

In advance of the scheduled March Festival, the La Quinta Arts Foundation continues to offer the popular ‘Art Under the Umbrellas’ shows throughout January and February in Old Town La Quinta.  For more information about Art Under the Umbrellas, La Quinta Arts Festival and its #1 national ranking or La Quinta Arts Foundation, please visit www.LQAF.com , or contact Christi Salamone, Executive Director, at 760-564-1244 ext. 111

Would you leave $46,000 on the Table?

• For 42% of home buyers, the first step in the home-buying process was looking online for properties and 14% of home buyers first looked online for information about the home buying process.

• The use of the Internet in the home search rose slightly to 92%.

• The typical home buyer searched for 12 weeks and viewed 10 homes.

• 88% of buyers purchased their home through a real estate agent or broker – and increase from only 69% in 2001.

• 88% of sellers were assisted by a real estate agent when selling their home.

• 2/3 of home sellers only contacted one agent before selecting the one to assist with their home sale.

• The share of home sellers who sold their home without the assistance of a real estate agent was 9% - of that 40% knew the buyer prior to home purchase.

• Recent sellers typically sold their homes for 97% of the listing price, and 47% reported they reduced the asking price at least once.

• 36%  of sellers offered incentives to attract buyers, most often assistance with home warranty policies and closing costs.

• 39%  of sellers who used a real estate agent found their agents through a referral by friends or family, and 25% used the agent they worked with previously to buy or sell a home.

• 85% of sellers reported that their home was listed or advertised on the multiple listing (MLS) website.

• Among recent sellers who used an agent, 84 % reported they would definitely (65%) or probably (19%) use that real estate agent again or recommend to others.

• The primary reason that sellers choose to sell their home without the assistance of a real estate agent to a buyer they did not know was that they did not want to pay a fee or commission (46%).

• Approximately 1/3 of FSBO sellers took no action to market their home, and 64% did not offer any incentives to attract buyers.

• The typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales! That’s leaving $46,000 ON THE TABLE!!!

It not only makes sense to use a REALTOR®, it makes cents. There still is time this season to sell your home in the Desert! Many buyers taking refuge from their cold northern homes are seeing this as their permanent winter destination! Call me today to find out you can take advantage of today’s real estate market!

Tax Benefits for Home Owners

[social]Owning a house can come with a lot of work. It can also have some benefits, such as being able to hang whatever you want on the walls; paint the kitchen black if that’s what your heart desires; or even get crazy and get a cat without having to pay a huge security deposit. However, the break that you get on your taxes is very alluring, too. Here are a few things to look forward to the first time you file taxes after purchasing your home.

Mortgage Interest

One of the largest tax breaks that homeowners with a mortgage can take is the interest that is paid on the mortgage each year; unless your loan is over $1 million, at which point the IRS will cap your deductible interest.

You also get a tax break on interest from a home equity loan, or if you pulled money out via refinancing. The interest from either of those loans may be tax deductible if it falls within IRS guidelines. Equity debts of $100,000 or less can generally be deducted, but the amount that is still remaining on your first mortgage can affect how much you can claim.

You can also deduct mortgage interest on a second home, even if that “home” is a boat or RV; as long as it has cooking, sleeping, and bathroom facilities and you spend at least 14 days during the year in it. You can also rent out your second home and still get the full deduction, as long as you spend at least 10 percent of the number of days you rented it or 14 days, whichever is longer. So if you rent out your second home for 180 days, you will need to stay in the home for at least 18 days.

Points

If you paid extra when you closed on your mortgage to get a lower interest rate, then you paid points, and it is tax deductible. However, when and how you get to claim the tax break varies.

The IRS will allow you to take a tax break on points in the year you paid them if, among other things, the loan is to purchase or build your main home; if it’s an established business practice in your area to pay points; and if the points are within the usual range. Points on a refinanced loan are also eligible for a tax break, but the deduction must be taken over the life of the loan.

Make sure your loan meets all the qualification requirements so that you can deduct points all at once. If the refinance frees up cash that you invest back into the house in improvements, then you can take the deduction in the year you paid the points. This rule also applies to home equity loans or lines of credit, as long as the money is used for work on the house used to secure the loan. If the loan is used for something else, the deduction is spread out over the life of the loan.

As with any tax advice, be sure to have a chat with a tax professional before making any decisions.

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!

Follow me on Facebook, too!!

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!

Follow me on Facebook, too!!

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.

Follow me on Facebook!

**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.

Follow me on Facebook!

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.

Follow me on Facebook!