BUYERS and INVESTORS:

From my professional perspective, there has never been a better time to buy and invest in the Coachella Valley. Interest rates are now at the lowest level they have ever been in the history of interest rate tracking. This means money is cheap. If you are not all cash, savvy buyers and investors are able to make real estate investment purchases with the cheapest money we have seen in recorded history. In addition to this, current desert real estate prices are down to 1999 – 2001 levels, depending on zip code. These are the lowest prices in a decade. This is not the typical relationship between real estate prices and interest rates. The typical relationship is an inverse relationship. When prices are high, interest rates are low and when interest rates are high, prices are low. That is not the case today. Low prices and low interest rates translate into great money making opportunities, if you invest in real estate today. Real estate investments made in the next two years most likely will translate into large returns on your investment in the following 7-10 years. My message to you is NOW is the time to buy. Let me repeat that to you so you do not miss it. NOW is the time to buy. This is the period that real estate wealth will be created in the next decade.

SELLERS:

Most realtors would tell you now is NOT the time to sell in our current real estate market. This may or may not be true depending on your wealth creating strategy. Let me explain this to you.

My team and clients have been focusing on the following luxury clubs: Bighorn Golf Club (Palm Desert), Toscana Country Club (Indian Wells), The Tradition Golf Club (La Quinta) and The Hideaway Golf Club (La Quinta). Many of our high net worth clients are now selling their luxury estates. The logical question here is: “Scott, why are your clients selling their luxury estates?” The answer is simple. Sellers in the luxury market are selling their estates and upsizing in our current market. Yes, they are upsizing in our “Great Recession”. They are taking their losses on their existing home understanding the short term nature of the housing crises. At the same time they are selling their luxury estate, my sellers are becoming buyers/investors purchasing premium lots and building larger estates or purchasing larger estates. They are focusing their investment strategy on diamond properties that are priced correctly. These clients have the ability to write off their losses on their initial home sell, and understand that more wealth will be created purchasing well priced diamond properties today, in the best desert country and golf clubs, and will ride the appreciation wave up.

WHAT IS MY MESSAGE TO YOU?

In today’s changing and challenging real estate market, you need to be sure to be working with a real estate professional. Gone are the days of working with a part-time realtor who sells one or two properties a year, or working with a family member. That old strategy may save you money in the short term, however, most likely will cost you money in the long term. Your goal should be to create a long term investment strategy with a seasoned professional. I would suggest a full-time professional who has a real estate team, an agent who has personally bought and sold his/her own properties, etc. Also, you need a professional who has a solid foundation and working knowledge of our current real estate market. You should take the time to interview up to 3 real estate professionals and be comfortable that he or she understands your investment goals, and you are comfortable working with that professional. The 80/20 rule is alive and well in the real estate community. Meaning 80% of the business is completed by 20% of the realtors. Be sure you are working with a 20 percenter. You will thank me because you made a wise choice.

For additional information on my team go to: www.ScottandJimHomes.com or feel free to visit my YouTube Channel at ScottandJimHomes. I have over 140 videos that may address many of your real estate questions. If you're considering buying or selling a desert home, NOW is the time to move forward with your plans. I would be happy to talk with you and learn more about your plans.  Call or e-mail Scott+Jim Homes today!

“Remember in Real Estate, Knowledge is Power”

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Here is our Desert Area Market Update, by city for October 2011, for the period ending September 30, 2011, for the five major resort cities that Scott + Jim Homes specialize in. Data compiled from Desert Area MLS.

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The economic downturn and recurring Sacramento takeaways of local funds have dramatically impacted Palm Springs’ ability to fund critical programs and projects. Over the last decade the State of California has taken millions from Palm Springs in attempts to address the State’s budget problems.

In today’s tough economy, without additional revenue, the City of Palm Springs will be unable to fully support our community’s needs. The City of Palm Springs has a backlog of projects which are not able to be funded with current revenues including:

• Street Repair and Maintenance
• Revitalizing the Downtown including the Desert Fashion Plaza
• Improving our Parks, Trails, Bikeways, and Tahquitz Creek
• Supporting College of the Desert’s West Valley Campus Neighborhood Improvements
• Improving and expanding the Palm Springs Library

What is Measure J and who pays for Measure J?

After extensive public discussion and community input, Measure J was unanimously placed on the November 8, 2011 ballot by the Palm Springs City Council to provide a source of local revenue for essential services and projects.  Measure J would add one penny to each dollar spent in Palm Springs by both residents and visitors. This means that for every dollar of each purchase you will be asked to pay another penny specifically to be used locally for Palm Springs.  Measure J is not a tax on property owners and none of Measure’s J’s proceeds can be taken by Sacramento. . It would generate $200 million during the next 25 years for use on local capital projects including the city's $43 million contribution toward the revitalization of the Desert Fashion Plaza, located in downtown Palm Springs.

Scott + Jim Homes strongly supports Measure J as we believe it to be a common sense plan to take back our city, and to provide critical funds to a progressive vision to revitalize our beautiful city for our future.  Vote YES on Measure J on November 8^th, 2011.

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