The State of Real Estate in the Coachella Valley 2007
The yearly event was hold by the Board of Realtors in the Hotel Doral October 23, 2007. Patrick Veling from Real Data Strategies presented the“State of Real Estate in the Coachella Valley. If you
go to my website http://www.rhaverkate.com/ you can order a pdf copy of the whole presentation with all the graphs.
The Palm Springs Valley is part of a national housing contraction but might be better of than the rest of the nation this winter due to it’s second home market and strong Canadian clientele. A contraction was bound to occur and is actually a good thing because further rising prices would have collapsed our market under it’s own weight. Increasing inventories have an upside especially for buyers. Even if our market of total homes sold in the valley is down over 50% from 2 years ago, the upscale homes are holding up solidly in the current market climate. Builders were ahead of many in the real estate industry at adjusting their activities in light of the changing market. Builders start to run out of standing inventory after slowing down their production and will come back when the market comes back. A lot of the deals we are seeing out there will start to go away – now is a fantastic time to buy and a home in a great location in the middle of our east growing valley like will still be a good long-term investment, even if housing prices don't increase at the same pace anymore.
For more actual statistics and charts please visit my Website www.rhaverkate.com and click on "Sales Statistics". As a certified international property specialist and Internet professional, I'm only milliseconds away and I can help clients from all over the world with transactions in Palm Springs.
The yearly event was hold by the Board of Realtors in the Hotel Doral October 23, 2007. Patrick Veling from Real Data Strategies presented the“State of Real Estate in the Coachella Valley. If you
go to my website http://www.rhaverkate.com/ you can order a pdf copy of the whole presentation with all the graphs.
The Palm Springs Valley is part of a national housing contraction but might be better of than the rest of the nation this winter due to it’s second home market and strong Canadian clientele. A contraction was bound to occur and is actually a good thing because further rising prices would have collapsed our market under it’s own weight. Increasing inventories have an upside especially for buyers. Even if our market of total homes sold in the valley is down over 50% from 2 years ago, the upscale homes are holding up solidly in the current market climate. Builders were ahead of many in the real estate industry at adjusting their activities in light of the changing market. Builders start to run out of standing inventory after slowing down their production and will come back when the market comes back. A lot of the deals we are seeing out there will start to go away – now is a fantastic time to buy and a home in a great location in the middle of our east growing valley like will still be a good long-term investment, even if housing prices don't increase at the same pace anymore.
For more actual statistics and charts please visit my Website www.rhaverkate.com and click on "Sales Statistics". As a certified international property specialist and Internet professional, I'm only milliseconds away and I can help clients from all over the world with transactions in Palm Springs.
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