La Quinta California Real Estate

Coachella valley California home sales edged up in October while prices slid.

735 homes sold   +1.9%

Overall median sales price: $166,000   -8.3%

Resale median price, condos: $164,000    -8.6%

Median price, new homes:  $229,000  +11.7%

This trend is healthy and positive. Now is the time to buy a home in the Coachella Valley - great home, low prices, and lots of sun!

All Coachella Valley cities beat California's overall growth for 2010 of 0.8%.

Desert Hot Springs led the state with adding an estimated 1531 residents in 2010 - a whopping 5.9% population growth in one year to approximately 27,383 residents.

Accroding to the State Department of Finance the other cities posted population gains in 2010 as follows:

Indio - 2.7% to 77,165

Coachella - 2.6% to 41,502

Palm Desert - 2% to 49,111

Rancho Mirage - 1.7% tp 17,463

 Palm Springs - 1.4% to 45,002

La Quinta - 1.4% to 37,836

Indian Wells - 1.4% to 5,010

Cathedral City - 1.1% to 51,603

Who wouldn't like a new home? There is a new home development in Coachella, California which is Kaufmann Broad homes. Aventine is offering homes for $150,000-$175,000. These are very  nice homes from approximately 1300 square feet to 1800 sqaure feet on lots from 6000-10,000 square feet.

There are special loan programs for no money down with a credit for closing costs too. Your payments may be as low as $700 a month including homeowner's insurance and property taxes. Then it can increase year 2 to $850 and stay the same from year 3 on for approximately $1000 per month.

These homes feature a great room floor plan, 2 car garage, 3 bedrooms, 2 baths - lots of cabinets and storage too.

This is an incredible opportunity to own a NEW HOME at a LOW COST!

Please call me now for more information!

Lori Bowers

The Lori Bowers Group

call or text 760-831-1595

Coachella Valley real estate professionals share their thoughts on the market outlook for the region for 2011 with two months left to go in 2010. They agree there is uncertainty in the market, but the trend is for an 8-10% increase in sales for 2011. The real estate professionals say 2011 should be about reducing the foreclosure/short sale inventory as well as a leveling out of the average price. Historically low interest rates and low prices should motivate prospective buyers. Investors will be active as rents make investing an excellent return on investment in Coachella Valley. It looks like a slow improvement of the real estate market in Coachella Valley, California.

The Coachella Valley- Palm Springs area - will need construction to pick up before any serious recovery takes place. Here are the basics on home building over the last 2 decades in Coachella Valley, California.

Year     Units

1990     4,063

1991     3,118

1992     3,514

1993     3,128

1994     3,709

1995     3,250

1996     3,194

1997     3,358

1998     4,477

1999     4,601

2000     5,009

2001     4,434

2002     3,427

2003     5,630

2004     7,808

2005     7,072

2006     5,483

2007     1,737

2008     685

2009     598

2010     409 ( 1st 6 mos.)

With building down more than 90% , there is a long way to go for a better housing market in our area.

 In 2009 the Coachella Valley had 300 less acres of grapes and produced $23,000,000 more in revenue from the grapes. The total revenue from grapes in 2008 was $128,454,300 and was all the way up to $151,141,200 in 2009. This is great news for an area with a 9.5% unemployment rate. The Coachella Valley is the largest grower of table grapes in the United States. With a sunny warm climate all year round, the abundant crops prosper. The grapes are large luscious and delicious. Have you ever had a raisin that ripened right on the vine? They are really good and quite a treat. The Coachella Valley is grateful for grapes and the industry and revenue provided by the grapes.