Hilltop home views outrank water-front views four to one, C.A.R. luxury client survey finds

California Association of REALTORS(R) Press Release - May 2014

Vast majority of luxury home buyers purchased home as primary residence

LOS ANGELES (May, 2014) – Even in a state with hundreds of miles of beautiful, sandy beaches, luxury home buyers in California preferred hilltop homes over ocean-front properties by a margin of four to one, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 Luxury Real Estate Consumer Survey.”

Forty-one percent of buyers who bought luxury homes (homes priced above $1 million) last year, purchased a home with a hilltop view, compared to 10 percent who bought an ocean-front home.  Hilltop homes even outranked ocean-front homes and ocean-view homes combined (38 percent). Buyers also purchased luxury homes located near a golf course (16 percent), mountain area (12 percent), resort area (9 percent), lake-front (4 percent), and ski resort (1 percent).

The vast majority (79 percent) of luxury home buyers said they purchased the home as a primary residence.  Ten percent purchased the home as a vacation or second home. Nine percent purchased the home as an investment or rental property, and two percent cited “other” reasons.

Additional findings from C.A.R.’s 2013 Luxury Real Estate Consumer Survey include:

•  One-fourth of luxury home buyers said the main reason they purchased a home was because they wanted a larger home, compared to traditional buyers (23 percent) who said they were tired of renting as the primary reason for purchasing a home.

•  With luxury home buyers usually being higher income earners, more than a third of all luxury buyers (35 percent) were able to pay all cash for their property, compared to 27 percent of traditional buyers, and 11 percent of first-time buyers.

•  Luxury home buyers also made higher down payments (30 percent of the sale price) than traditional buyers (25 percent), and as a result had less difficulty in obtaining financing than traditional buyers. On a scale of 1 to 10, with 1 being “very easy” and 10 being “very difficult,” luxury home buyers rated acquiring financing difficulty at 3.7, compared to 8.6 for traditional buyers.

•  While luxury home buyers spent less time looking for properties (five weeks) compared to traditional buyers (10 weeks), luxury buyers looked at more properties (10 properties) than traditional buyers (eight properties) before purchasing the home.

•  Buyers of luxury properties tend to be more optimistic than traditional buyers, with more than seven in 10 (71 percent) luxury buyers saying they expected home prices to increase in one year, compared to 36 percent of traditional buyers.

•  Luxury home buyers intended to keep the property for a median of 10 years, compared to six years for traditional buyers.

•  Fifty-seven percent of luxury buyers were single, compared to 37 percent of traditional buyers who were single.

Luxury Real Estate Consumer Survey slides (click to open):

 Hilltop homes outrank ocean-front homes
 Intended use of luxury property
 Reasons for purchasing a luxury home
 Luxury home buyers more optimistic
All cash buyers

The Luxury Real Estate Consumer Survey was conducted via email to a random sample of REALTORS® statewide who worked with luxury home buyers. All eligible respondents closed escrow on their homes within the 12 months prior to November 2013.  The survey asked REALTORS® a series of questions regarding their last closed transaction with a luxury client. Access the full report on the survey findings here: http://www.car.org/marketdata/surveys/other/ and view the webinar presentation here: http://www.car.org/marketdata/videos.

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with 165,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

Survey contact: Selma Hepp (213) 739-8305

All information above is from the California Association of REALTORS®.

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Is it worth buying a Vacation home in La Quinta?

[social]With “Season” winding down in the Desert and winter vacationers are heading to the colder regions, there may be thoughts of a more permanent vacation home in the Desert.

Here are some things you may want to keep in mind when buying your Vacation home in the Desert:

• How often will you use it? Will you be the sole occupant or will others vacation there, also? (Warning: Owning a home in the Desert will make you VERY popular with family and friends.) What are the reasonable lengths of stays to make it a viable purchase?

• SHOULD you purchase your vacation home with others? You may want to ask legal assistance to hammer out specific ownership and owner rights if you do this.

• How much does it cost to keep this vacation home running – when you’re there? When you’re not? How much does it cost to keep the grounds kept and the pool cared?

• How much are additional amenities to a property?

• How’s the resale of this property? Does it need a lot of updating or do you just walk in and enjoy? If it needs updated, how much and will it be worth it?

There’s a lot to consider when buying a vacation home in the La Quinta area, but SO worth it – especially when the snow flies at home. Contact me today to answer all your vacation home questions!

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Is this Your Vacation Home or Retirement Home in the Desert?

It’s not a secret that once you vacation in La Quinta, you’ll want to find ways to come back often or eventually live here. So, if you purchase a home here, is it a vacation home or eventually a place to retire?

Is there a difference?

According to the National Association of REALTORS® latest market figures, vacation home sales were 29.7% higher in 2013 over 2012. Right now, 13% of all home sales are vacation homes. The median vacation home price increased 12.5% over 2012 to $168,700. Seasonal demands drive home prices – it is good to analyze home values over an entire year.

A short time vacationing is different than the day to day living.

Check out the extended expenses of living in an area. The ability to afford a vacation may be drastically different than actually residing there.

Does the area have the amenities and health care for the golden years? Is the health care have easy access and affordable? Are there healthy activities available? Are there senior centers close by?

One way to find out what an area actually offers is to step away from the “tourist” area and look at neighborhoods and what they offer. What is the traffic like year ‘round / access to stores and entertainment? What is going on off-season? Sometimes places have resident-only fees instead of vacation rates. Local city offices may be able to direct you in the right direction.

Financing a vacation home is different than financing a primary residence. Last year 38% vacation home buyers paid cash.

A lot goes into making this decision and you need answers you can depend on.

Contact me today.

I can make your home buying process easier with details about the housing market in La Quinta and surround Desert area, vacationing and/or living in the Desert.

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April is Fair Housing Month

April is National Fair Housing Month, however, Fair Housing is extremely important and something we need to think about every day. We make sure everyone is treated fairly! This may be a long post, but very important …. It contains who is protected, what is protected and where you can go to complain if you feel your rights were not protected. At the end is our REALTOR® Fair Housing Oath confirming what we believe in as members of the REALTOR® Association. HUD No. 14-028 Shantae Goodloe (202) 708-0685 FOR RELEASE April, 2014

HUD MARKS FAIR HOUSING MONTH

WASHINGTON - Each April, the U.S. Department of Housing and Urban Development (HUD) uses Fair Housing Month to mark the passage of the 1968 Fair Housing Act, the landmark law passed shortly after the assassination of Dr. Martin Luther King, Jr. which prohibits housing discrimination based on race, color, national origin, religion, sex, disability, and family status. This year's Fair Housing Month theme is "Fair Housing is Your Right: Use It!" Throughout the month, HUD will cast a spotlight on the persistent problem that exists in this country, as individuals and families continue to face both blatant and subtle forms of housing discrimination. HUD Secretary Shaun Donovan launched this year's commemoration at an event featuring the new film *"A Matter of Place," which documents three personal stories of housing discrimination in New York City. Underwritten by a grant provided under HUD's Fair Housing Initiative Program, the film profiles three examples of housing discrimination based on race, sexual orientation, and source of income and features commentary from legal experts, civil rights advocates and fair housing testers.

"This month is an opportunity to recommit to the principle that fair housing is an essential part of everything we do; every grant we make; every building we build; and every community we work with," said HUD Secretary Shaun Donovan. "And we will go to the mat in order to ensure the right of every American to fair housing. Although the times have changed - our commitment to this work remains as strong as ever. It is at the core of our mission."

"Fair Housing Month is an opportunity for all of us to reflect on just how far we've come to make our housing more equitable and how far we still have to go to end housing discrimination," said HUD Acting FHEO Assistant Secretary Bryan Greene. "Fair housing is about giving people the opportunity to pursue their dreams and whenever this opportunity is denied, not only do families lose, our entire nation loses." Each year, HUD and communities and organizations across the country recognize Fair Housing Month by hosting an array of activities that enhance the public's awareness of their fair housing rights and promote the nation's commitment to end housing discrimination. In addition to the legal protections provided under the Fair Housing Act prohibiting housing discrimination based on race, color, national origin, religion, sex, disability, and family status, approximately 20 states, the District of Columbia, and more than 150 cities, towns and counties across the nation also prohibit discrimination against lesbian, gay, bisexual, and transgender (LGBT) individuals and families. In 2012, HUD published new regulations to ensure that the Department's core housing programs are open to all eligible persons, regardless of their sexual orientation or gender identity. In addition, 12 states and the District of Columbia, as well as several counties and municipalities protect persons against housing discrimination based on their source of income. **

What Are Protected Rights?

(from the National Fair Housing.org) The federal Fair Housing Act protects your right to rent an apartment, buy a home, obtain a mortgage, or purchase homeowners insurance free from discrimination based on:

• Race

• Color

• Religion

• Gender

• National Origin

• Disability (mental and physical)

• Familial Status (presence of children under 18 in the home)

What is Housing Discrimination?

(from the National Fair Housing.org) How do you know if you have been the victim of illegal housing discrimination? Housing discrimination comes in many forms and is often subtle. Some signs of possible discrimination include:

• A refusal to sell, rent, or show available housing

• Requiring different terms and conditions for identical dwellings, i.e. charging higher rent, security deposit for different tenants

• Being told that the dwelling isn’t right for you or your family

• Being told that housing isn’t available in an apartment with a “For Rent” sign

• Housing advertisements that say “no kids” or “adults only”

• A refusal to make a reasonable accommodation or allow a modification to make the dwelling accessible for a person with a disability

• Harassment or intimidation

• Offering non‐standard and unfavorable terms in the purchase of a home or property insurance

• Terms of availability that change between a phone contact and an in‐person visit

• Being steered to racially segregated neighborhoods during your home search

• Excessive or inappropriate questioning upon requesting information about a dwelling

Unintentional Housing Discrimination

Fair Housing and Lending

Discrimination in mortgage lending is prohibited by the federal Fair Housing Act and HUD's Office of Fair Housing and Equal Opportunity actively enforces those provisions of the law. The Fair Housing Act makes it unlawful to engage in the following practices based on race, color, national origin, religion, sex, familial status or handicap (disability):

• Refuse to make a mortgage loan

• Refuse to provide information regarding loans

• Impose different terms or conditions on a loan, such as different interest rates, points, or fees

• Discriminate in appraising property

• Refuse to purchase a loan or set different terms or conditions for purchasing a loan

Click HERE to find out HOW TO FILE A COMPLAINT for Housing or Finance Discrimination.

REALTOR® Fair Housing Declaration

As members of the National Association of REALTORS®, WE agree to:

• Provide equal professional service without regard to the race, color, religion, sex, handicap, familial status, national origin or sexual orientation of any prospective client, customer, or of the residents of any community.

• Keep informed about fair housing law and practices, improving my clients' and customers' opportunities and my business.

• Develop advertising that indicates that everyone is welcome and no one is excluded;, expanding my client's and customer's opportunities to see, buy, or lease property.

• Inform my clients and customers about their rights and responsibilities under the fair housing laws by providing brochures and other information.

• Document my efforts to provide professional service, which will assist me in becoming a more responsive and successful REALTOR®.

• Refuse to tolerate non-compliance.

• Learn about those who are different from me, and celebrate those differences.

• Take a positive approach to fair housing practices and aspire to follow the spirit as well as the letter of the law.

• Develop and implement fair housing practices for my firm to carry out the spirit of this declaration.

**HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov. You can also follow HUD on twitter @HUDGov, on facebook at www.facebook.com/HUD, or sign up for news alerts on HUD's Email List.

*“A Matter of Place”

A MATTER OF PLACE from Fred Freiberg on Vimeo.

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April Newsletter

CLICK HERE for Printable newsletter  

California Lifestyle Realty - #1 in the Desert!

No other La Quinta real estate office has the walk through traffic that California Lifestyle Realty does:

• 35,000 PGA WEST™ resort golfers pass our on-site Tournament Clubhouse annually

• 155,000 La Quinta Resort & Club® guests pass our on-site Lifestyle Gallery annually

• 45,000 resort golfers pass our Mountain / Dunes on-site office

La Quinta Area’s Drug Take Back Day is April 26th

A recent article in the REALTOR® Magazine about the number of prescriptions stolen during Open Houses got me thinking about a safety issue when you have your home listed – your family’s medications.

Though I screen every potential buyer I take through your La Quinta area home and walk with them every step I take, there still are Open Houses and other showings of your home. As careful as I and other agents are, precautions are still needed.

Prescription drug thieves actually target open houses and many times travel in pairs. One of them acts as a decoy and the other travels around the house scouring to find prescription drugs. Generally they are on the lookout for controlled substances like anti-anxiety drugs, drugs for ADHD/ADD, pain killers & muscle relaxers and other psychiatric drugs.

Just to be on the safe side - Before a showing or open house, remove all medications and prescription drugs from the bathroom or other places you store them. The National Council on Alcoholism and Drug Dependence recommends taking your medications with you.

If you have unused or outdated prescriptions, April 26^th is the National Drug Take Back Day.

On April 26 from 10 a.m. to 2 p.m. the agencies listed below and the Drug Enforcement Administration (DEA) will give the public its eighth opportunity in three years to prevent pill abuse and theft by ridding their homes of potentially dangerous expired, unused, and unwanted prescription drugs.  Bring your pills for disposal to the addresses listed below. (The DEA cannot accept liquids or needles or sharps, only pills or patches.)  The service is free and anonymous, no questions asked.

Last October, Americans turned in 324 tons (over 647,000 pounds) of prescription drugs at over 4,114 sites operated by the DEA and its thousands of state and local law enforcement partners.  When those results are combined with what was collected in its seven previous Take Back events, DEA and its partners have taken in over 3.4 million pounds—more than 1,700 tons—of pills.

This initiative addresses a vital public safety and public health issue.  Medicines that languish in home cabinets are highly susceptible to diversion, misuse, and abuse. Rates of prescription drug abuse in the U.S. are alarmingly high, as are the number of accidental poisonings and overdoses due to these drugs.  Studies show that a majority of abused prescription drugs are obtained from family and friends, including from the home medicine cabinet. In addition, Americans are now advised that their usual methods for disposing of unused medicines—flushing them down the toilet or throwing them in the trash—both pose potential safety and health hazards.

DEA is in the process of approving new regulations that implement the Safe and Responsible Drug Disposal Act of 2010, which amends the Controlled Substances Act to allow an “ultimate user” (that is, a patient or their family member or pet owner) of controlled substance medications to dispose of them by delivering them to entities authorized by the Attorney General to accept them.  The Act also allows the Attorney General to authorize long term care facilities to dispose of their residents’ controlled substances in certain instances.

PARTICIPANTS NAME	COLLECTION SITE	ADDRESS	CITY	STATE, ZIP
RIVERSIDE COUNTY SHERIFF'S DEPARTMENT	PALM DESERT SHERIFF'S STATION POC: LT. JIM ARMSTRONG, 951-755-1705	73705 GERALD FORD DRIVE	PALM DESERT	CA, 92260
PALM SPRINGS POLICE DEPARTMENT	PALM SPRINGS POLICE DEPARTMENT FRONT LOBBY	200 SOUTH CIVIC DR.	PALM SPRINGS	CA, 92262

**Above information is from the U.S. Department of Justice – Office of Diversion Control

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March Riverside County Sales

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!!

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**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!!

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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

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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!

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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.

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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.