Experience the nestled within the Coachella Valley of beautiful Southern California. Enjoy the breathtaking beauty of the snow-capped mountains and the majestic palm trees.The Palm Springs area averages 350 days of sunshine each year and winters are spring-like. Popular recreational activities include golf, tennis, hiking, biking, and trail riding in the surrounding canyons and mountains. The California Desert allows for spectacular outdoor weather and recreation every day of the year.

Sales of single-family, re-sale homes were down in July with the expiration of the Federal tax credit. Home sales were off 17.6% from June, and were down 19.3% year-over-year. Year-to-date, home sales are off 3.7%.

A short sale is a sale of real estate in which the sale proceeds fall short of the balance owed on the property’s loan.[1] It often occurs when a borrower cannot pay the mortgage loan on their property, but the lender decides that selling the property at a moderate loss is better than pressing the borrower. Both parties consent to the short sale process, because it allows them to avoid foreclosure, which involves hefty fees for the bank and poorer credit report outcomes for the borrowers. This agreement, however, does not necessarily release the borrower from the obligation to pay the remaining balance of the loan, known as the deficiency.

The City of La Quinta has been one of California’s fastest-growing cities for more than a decade. Since 1990, the city’s permanent population has blossomed over 150 percent to 43,778.
La Quinta’s growth can be attributed to both the beauty of our city and the vision of our city leaders. That foresight and the fact that La Quinta is an extraordinary place to live, gives us pause as we relish in our magnificent mountain views, 350 days of sunshine and friendly residents.
La Quinta offers housing opportunities that are unparalleled in the Coachella Valley. From low-cost affordable housing, traditional single-family homes and apartments to world-class multimillion-dollar custom homes in gated communities, La Quinta offers a variety of housing styles that will meet your primary or secondary home needs.
Traditionally a golf mecca with numerous golf courses, La Quinta provides a diverse selection of home sites with waterfront or mountain views to entice the most discriminating buyer. Nationally known for its outstanding community development, La Quinta has been awarded Leadership in Energy and Environmental Design (LEED) Platinum certification, (the highest) for the Vista Dunes Courtyard Homes affordable housing project.
La Quinta—it’s a great place to call home!

Sales of single-family, re-sale homes were up, year-over-year, in all cities in the Valley with the notable exception of Desert Hot Springs, where sales plummeted 39.4% from last June. Year-to-date, home sales are off 0.8%.

The decline in sales in Desert Hot Springs is due to two thing: first, a pull-back by investors who are waiting and hoping for a further drop in prices, and, two, because of banks, like Bank of America, which have stopped selling to investors because they want to put homeowners in the homes. They are not doing this altruistically. The banks have other loans in the neighborhoods and they feel it is less risky selling to homeowners than to investors.

Home prices pulled back from May, which is normal this time of year as the market switches from second home buyers to local buyers. Prices were still up year-over-year with the median price gaining 22.2% and the average price up 16.1%.

Condo sales continued strong in June with sales up 21.1% year-over-year. Year-to-date, condo sales are up 53.1%.

The median price for condos was down 9.2% year-over-year, but it was up 12.5% compared to May.

It is a tough time to be a seller – we all know it. Lots of home on the market, a credit cruch that has eliminated the buyer pool, banks taking back properties and listing them at discounted prices. Prices are dropping and it may be years before we see a rebound.

If you have to sell now, be prepared to give up a large chunk of the equity you have built up over the years.

But there are alternatives…

We offer creative solutions for homeowners in all areas of residential real estate – especially helping homeowners maximize their tax free gain from the sale of their home.

Under Section 121 of the Internal Revenue Code, a person can exclude up to $250,000 of the gain on the sale of a home if the person:

- Owned the home for at least 2 years during the 5-year period ending on the date of the sale (ownership test),
- Used the home as his or her principal residence for at least 2 years during the 5-year period ending on the date of the sale (use test); and
- Did not exclude gain from the sale of another home during the 2-year period ending on the date of the sale.

Married couples can exclude up to $500,000 of the gain on the sale of a home if:

- They file a joint return for the year of the sale;
- Either spouse meets the ownership test;
- Both spouses meet the use test;
- Neither spouse excluded gain from the sale of a home during the 2-year period ending on the date of the sale

If you are in a situation where you qualify for the capital gains exclusion, we can help in following situations:
1. Structure a transaction where you sell now for above market value…and cash in tax-free when the market recovers, or
2. If you have already moved out of the home and are approaching the deadline for taking the exclusion, we can save you tens of thousands of dollars, or
3. For people that are close to exceeding their $250K or $500K of gain, we can HELP with this, too.

It’s a terrible time to buy when interest rates are low, like now. Realtors just lie without shame about this fundamental fact. House prices fall as interest rates rise, because a fixed monthly payment covers a smaller mortgage at a higher interest rate. Since interest rates have nowhere to go but up, prices have nowhere to go but down. The way to win the game is to have cash on hand to buy outright at a low price when others cannot borrow very much because of high interest rates. Then you get a low price, and you get capital appreciation caused by future interest rate declines. To buy at a time of low interest rates and high prices like now is a mistake.
It is far better to pay a low price with a high interest rate than a high price with a low interest rate, even if the mortgage payment is the same either way.

House prices will keep falling in most places. Prices are still dangerously high compared to incomes and rents. Banks say a safe mortgage is a maximum of 3 times the buyer’s annual income with 20% downpayment. Landlords say a safe price is a maximum of 15 times the house’s annual rent. Yet on the coasts, both those safety rules are still being violated. Buyers are still borrowing 6 times their income and putting only 3% down, and sellers are still asking 30 times annual rent, even after recent price declines. Renting is a cash business that proves what people can really pay based on their salary, not how much they can borrow. Salaries and rents prove that prices will keep falling for a long time. Anyone who bought a “bargain” this time last year is already sitting on a very painful loss.

Understanding Commissions.

Listing Commissions

Real estate brokers normally charge a commission for listing and selling your home.
The rate varies, both by region and according to service level. In most areas the commission is calculated as a percentage of the sales price and rates of up to 7% are not uncommon.

Your listing contract will specify both the amount of the commission and the timing for when it will be paid. Like everything else in real estate, commissions are negotiable.

Discount commissions

It wasn’t to long ago that commissions below the “going rate” for an area were all but unheard of. These days though, there are many brokers and agents willing to list your home for considerably less than the 7% that might be typical for the area.

You need to be aware though, that lower commissions are nearly always tied to lower levels of service. Most agents willing to list your home for a bargain commission rate aren’t going to do any advertising or marketing of your home.

They will probably just list it with the local MLS and put a sign in your yard, and that’s about it. Meanwhile, a full service, full rate agent will probably spend considerable time and money to advertise and market your home – particularly to other agents in the area.

So, when considering a low commission, be sure you know exactly what you’ll be getting, and what you’ll be giving up.

Often, lower commissions will be part of a package deal where you agree to use a particular mortgage broker or you agree to buy your next home through the same agent that sells your present one. There are some good bargains to be had with these package deals.
But again, it pays to examine the details closely, and make sure the whole package fits your needs.

Paying commissions

It’s important to understand how commissions are earned, and when they are paid. Your specific listing agreement will spell out the details.

In general, a broker is considered to have held up his end of the bargain when he brings you a “ready, willing and able” buyer.

If the broker finds such a buyer, and you change your mind and back out of the deal at the last minute, the broker is probably going to expect you to pay the commission anyway, since he did his job

Here’s How:
1.Disassociate Yourself With Your Home.
Say to yourself, “This is not my home; it is a house — a product to be sold much like a box of cereal on the grocery store shelf.
Make the mental decision to “let go” of your emotions and focus on the fact that soon this house will no longer be yours.
Picture yourself handing over the keys and envelopes containing appliance warranties to the new owners!
Say goodbye to every room.
Don’t look backwards — look toward the future.
2.De-Personalize.
Pack up those personal photographs and family heirlooms. Buyers can’t see past personal artifacts, and you don’t want them to be distracted. You want buyers to imagine their own photos on the walls, and they can’t do that if yours are there! You don’t want to make any buyer ask, “I wonder what kind of people live in this home?” You want buyers to say, “I can see myself living here.”
3.De-Clutter!
People collect an amazing quantity of junk. Consider this: if you haven’t used it in over a year, you probably don’t need it.
If you don’t need it, why not donate it or throw it away?
Remove all books from bookcases.
Pack up those knickknacks.
Clean off everything on kitchen counters.
Put essential items used daily in a small box that can be stored in a closet when not in use.
Think of this process as a head-start on the packing you will eventually need to do anyway.
4.Rearrange Bedroom Closets and Kitchen Cabinets.
Buyers love to snoop and will open closet and cabinet doors. Think of the message it sends if items fall out! Now imagine what a buyer believes about you if she sees everything organized. It says you probably take good care of the rest of the house as well. This means:
Alphabetize spice jars.
Neatly stack dishes.
Turn coffee cup handles facing the same way.
Hang shirts together, buttoned and facing the same direction.
Line up shoes.
5.Rent a Storage Unit.
Almost every home shows better with less furniture. Remove pieces of furniture that block or hamper paths and walkways and put them in storage. Since your bookcases are now empty, store them. Remove extra leaves from your dining room table to make the room appear larger. Leave just enough furniture in each room to showcase the room’s purpose and plenty of room to move around. You don’t want buyers scratching their heads and saying, “What is this room used for?”
6.Remove/Replace Favorite Items.
If you want to take window coverings, built-in appliances or fixtures with you, remove them now. If the chandelier in the dining room once belonged to your great grandmother, take it down. If a buyer never sees it, she won’t want it. Once you tell a buyer she can’t have an item, she will covet it, and it could blow your deal. Pack those items and replace them, if necessary.
Make Minor Repairs.
Replace cracked floor or counter tiles.
Patch holes in walls.
Fix leaky faucets.
Fix doors that don’t close properly and kitchen drawers that jam.
Consider painting your walls neutral colors, especially if you have grown accustomed to purple or pink walls.
(Don’t give buyers any reason to remember your home as “the house with the orange bathroom.”)
Replace burned-out light bulbs.
If you’ve considered replacing a worn bedspread, do so now!
7.Make the House Sparkle!
Wash windows inside and out.
Rent a pressure washer and spray down sidewalks and exterior.
Clean out cobwebs.
Re-caulk tubs, showers and sinks.
Polish chrome faucets and mirrors.
Clean out the refrigerator.
Vacuum daily.
Wax floors.
Dust furniture, ceiling fan blades and light fixtures.
Bleach dingy grout.
Replace worn rugs.
Hang up fresh towels.
Bathroom towels look great fastened with ribbon and bows.
Clean and air out any musty smelling areas. Odors are a no-no.
8.Scrutinize.
Go outside and open your front door. Stand there. Do you want to go inside? Does the house welcome you?
Linger in the doorway of every single room and imagine how your house will look to a buyer.
Examine carefully how furniture is arranged and move pieces around until it makes sense.
Make sure window coverings hang level.
Tune in to the room’s statement and its emotional pull. Does it have impact and pizzazz?
Does it look like nobody lives in this house? You’re almost finished.
9.Check Curb Appeal.
If a buyer won’t get out of her agent’s car because she doesn’t like the exterior of your home, you’ll never get her inside.
Keep the sidewalks cleared.
Mow the lawn.
Paint faded window trim.
Plant yellow flowers or group flower pots together. Yellow evokes a buying emotion. Marigolds are inexpensive.
Trim your bushes.
Make sure visitors can clearly read your house number.