760.567.1550
| palm springs real estate, palm desert real estate | 4 Jan 2010 12:00 AM |
| How is the Coachella Valley real estate market different? by Scott Palermo + Jim Sanak |
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Selling real estate in today's marketplace means having a powerful referral network-local (for specialized properties, such as commercial), regional, state, national and even international. Naturally, as we exchange clients and referrals, we also exchange news, information-and, yes, gossip!
One of the things we keep hearing from agents in other areas is what a huge impact stimulus funds-the $8,000 first-time buyer tax credit-have had on their sales numbers. But not here! In the Coachella Valley, only about 5 to 10% of our buyers fall into this category.
In fact, most Valley buyers are affluent consumers with top-tier credit scores and plenty of cash or other assets. Most have already owned one or more homes. They come here to shop for a second, third or fourth residence because they CAN and WANT TO. Some 60% of our buyers come from out of the area and most are friends or associates of a local homeowner. Typically, buyers visit our desert valley a few times, stay with their friends and then realize they love the lifestyle and want to purchase a residence of their own.
If you're ready to stop being a houseguest and start being a desert homeowner, give us a call today at 760-567-1550. And remember, in real estate, knowledge is power!
P.S.: By the way, there is now a $6,500 federal tax credit for "move-up" home buyers who close escrow between Nov. 6, 2009 and June 30, 2010. Give us a call and we'll explain how it works!
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