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New Home Development Approved In South Palm Springs!

The Palm Springs City Council has given the thumbs up to an 80-unit housing development on the city’s south end that was twice denied by the Planning Commission, whose members said the layout and density of the project didn’t jive with the feeling of Palm Springs.   The council voted unanimously July 5 to approve Read More

4 Expenses Buyers Often Don’t Expect

Daily Real Estate News | Thursday, July 06, 2017     Buyers need to reserve the equivalent of about 2 percent to 5 percent of a home’s purchase price for closing costs, such as appraisal, lender, and title fees. But that’s only a portion of extra home ownership expenses.   Nearly half of home shoppers Read More

Condos Near Golf Cart Paths Command Lower Values

Daily Real Estate News | Thursday, June 29, 2017   Condos located near cart paths in golf course communities sell for lower prices than similar properties in the same communities, according to a new study published in The Appraisal Journal. Such condos are discounted an average 5.1 percent, according to the study. Certain cart paths Read More

New-Home Prices Hit Record High

Daily Real Estate News | Monday, June 26, 2017   The median price for a new single-family home reached a record high in May of $345,800, the Commerce Department reports. Buyers will be paying a huge premium for new construction, as new-home prices are now 16.8 percent higher than they were a year ago.   Read More

DESERT HOME MARKET IS BOOMING

Source:  The Desert Sun/6.26.17 Prices and sales climbed in May, with median houses above $300K ROSALIE MURPHY THE DESERT SUN Coachella Valley home sales and prices climbed again in May, with sales ticking up 1.5 percent year over year and prices jumping 8.5 percent.   There were 1,048 home sales recorded in May, according to Read More

12M Consumers May Get Credit-Score Boost

Daily Real Estate News | Thursday, June 22, 2017   The three largest credit-reporting agencies will begin cleaning up credit reports in July, which could help lift the credit scores of about 12 million consumers.   In a survey by the Federal Trade Commission, one in four people say they spot errors in their credit Read More

What better place to see the stars than our own backyard?

Joshua Tree National Park Joshua Tree National Park (Photo: Lance Gerber/DESERT magazine)   What better place to see the stars than our own backyard? Joshua Tree National Park spokesman George Land says there are several good viewing areas that are not closed off at night, such as Cap Rock, Boy Scout Trail parking area and Read More

Fed Votes to Raise Key Interest Rate Again

Daily Real Estate News | Thursday, June 15, 2017   On Wednesday, the Federal Reserve took a largely expected move to raise its key interest rate one-quarter percentage point. This marks the second of three hikes that is expected to occur this year.   Read more from Lawrence Yun: Interest Rate Conundrums   “The stance Read More

NAR: Buyers Face ‘Double Whammy’ This Spring

Daily Real Estate News | Wednesday, May 31, 2017 For the second consecutive month, pending home sales scaled back as significantly weak supply levels of homes for sale continue to press on affordability conditions, the National Association of REALTORS® reported Wednesday.   NAR’s Pending Home Sales Index, a forward-looking indicator based on contract signings, fell Read More

Buyer Beware: Home Prices Will Only Get Higher

Daily Real Estate News | Tuesday, May 16, 2017   Home sales reached their highest pace in a decade in the first quarter of 2017 as property prices continue to escalate, according to the National Association of REALTORS®’ latest quarterly report.   The median price of an existing single-family home nationally was $232,100 in the Read More

Will Tax Changes Benefit Homeowners and Investors?

Daily Real Estate News | Wednesday, April 26, 2017 As the White House shifts its focus to tax reform, analysts are examining who will benefit from the proposal announced Wednesday afternoon. The New York Times reported yesterday that this week’s stock market surge could be attributed to President Donald Trump’s call to cut the corporate Read More

Mortgage Rates Got Cheaper This Week

Daily Real Estate News | Friday, March 31, 2017 For the second consecutive week, average mortgage rates fell, lowering the borrowing costs of buyers.   “The 10-year Treasury yield remained relatively flat this week,” says Sean Becketti, Freddie Mac’s chief economist. “The 30-year mortgage rate fell 9 basis points to 4.14 percent, another significant week-over-week Read More

Pending US homes sales reach 10-month high

March 29, 2017 03:55PM Single family homes in the U.S. (Credit: Rachel Elaine via Flickr)   The number of pending U.S. home sales reached a 10-month high in February, according to the National Association of Realtors. NOW is the time for home sellers to enter the market!   The index, which tracks contract signings on Read More

Understanding Supplemental Property Taxes

They have been with us since July of 1983, but you and your neighbors still may not know what they are, what they do, and how they affect you and your property. To help you better understand this confusing subject, the California Land Title Association has answered some of the questions most commonly asked about Read More

Palm Springs Is Hot. The Old Guard Is Hot Under the Collar.

By KATHERINE ROSMAN        MARCH 4, 2017     New York Times PALM SPRINGS, Calif. — Hundreds of Pucci- and pastel-wearing partygoers mingled on Feb. 16 among palm trees and model Alfa Romeo convertibles at the Bank, a renovated 1955 savings and loan in the downtown of this desert city. Looming over them were clips of Sean Connery Read More

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