Palm Springs Area Real Estate

If Your Home Was Foreclosed in 2009 or 2010 You Can Request a Review

2011-11-03T14:21:00.000-07:00

With the millions of foreclosures during the past few years, the robo signing, and the declined Loan Modification applications , now home owners whose primary residence was being foreclosed between January 1, 2009 and December 31, 2010 can request an independent review.

"The Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency (federal bank regulators) have required an Independent Foreclosure Review by an independent consultant to identify eligible customers who may have been financially injured due to errors, misrepresentations, or other deficiencies in their foreclosure process. If the review finds that financial injury occurred, the customer may receive compensation or other remedy. "

Home owners are eligible for an Independent Foreclosure Review if :

Your mortgage loan was serviced by one of the participating Mortgage Servicers
Foreclosure process was active between January 1 , 2009 and December 31,2010
The property was your primary residence.

The list of participating servicers includes:  

America’s Servicing Co. 
Aurora Loan Services
Bank of America 
Beneficial 
Chase 
Citibank
CitiFinancial
CitiMortgage 
Countrywide 
EMC
EverBank/EverHome Mortgage Company
GMAC Mortgage 
HFC
HSBC 
IndyMac Mortgage Services 
MetLife Bank 
National City Mortgage
PNC Mortgage 
Sovereign Bank 
SunTrust Mortgage 
U.S. Bank 
Wachovia Mortgage 
Washington Mutual (WaMu) 
Wells Fargo Bank, N.A.

How to get help ? Get all the details here

If your mortgage loan meets the initial eligibility criteria and you have questions, need a form by mail, or need help completing the form you have received in the mail, call 1-888-952-9105, Monday through Friday, 8 a.m.–10 p.m. ET or Saturday, 8 a.m.–5 p.m. ET.

Palm Springs Home Search Palm Desert Home Search La Quinta Home Search

Palm Springs Condo Sales Up In Sold Price & Units Sold

2011-06-28T21:44:00.000-07:00

This May, we saw another healthy month of increased sales of condos in the Palm Springs area, surpassing single family homes in number of units sold and average sold price, when compared to May 2010.

According to The California Desert Association's May 2011 report based on the Desert Area MLS of all desert cities;

May 2011 266 condos sold at an average selling price of $224,914 . 30% were foreclosures and short sales. That's an increase of 22.6% in sold units, and an increase of 12.4% in average sold price over 2010.

May 2010, 217 condos sold with an average selling price of $200,138. 36% were foreclosures and short sales.

Palm Springs and Palm Desert tied at 86 in the number of condos sold . The average selling price in Palm Desert came at $266,624, a 7.3% increase from May 2010. Palm Springs condos average selling price came at $173,358, 12.3% increase over May 2010.

La Quinta gained 5.3%, while condos in Indian Wells , Rancho Mirage, Cathedral City and Indio remain in negative territory .

We are defying the national negative trend here in the Coachella Valley thanks to Canadians who are enjoying a healthy Canadian dollar exchange , Investors, and Californians from Los Angeles and Orange County who see the value and future of the Palm Springs area.

For those who are toying with the idea of buying a condo , you can check all the MLS listings of condos available for sale in Palm Springs , in Palm Desert, and all Desert Cities including foreclosures .

1,329 Canadian Families Bought Palm Springs Real Estate ...

2011-04-29T12:44:00.000-07:00

According to the Desert Sun , "A search by the Palm Springs Regional Association of Realtors staff showed 1,329 Canadian buyers and another 98 purchasers from other countries acquired homes or condos over the past year, based on a tally of those who registered international addresses. That figure could be higher because some foreign buyers may not have registered."

Canadians have been and still are buying homes and condos at a fast pace in Palm Springs and all Desert Cities, taking advantage of the strength of the Canadian Dollar trading today at $105.40 US Dollar, and the real estate values in the Palm Springs area.

Canadians are no strangers to the Coachella Valley , it has been the destination of choice for snowbirds from British Colombia , Alberta, Saskatchewan and Eastern Provinces for decades, but this year, younger couples have been actively looking and buying as well. They see a great opportunity and values that will probably not be seen again.

A special Thank you to my Canadian and European Clients for the opportunity to be your chosen real estate agent.

To read the full article... http://goo.gl/siX36

Choose your favorite City to see all the active real estate listings :

Palm Springs MLS , Palm Desert MLS , Indian Wells MLS , Rancho Mirage MLS, Cathedral City MLS , Indio MLS .

Palm Springs and Desert Cities Home Prices Up by almost 27 % ....

2011-04-01T11:26:00.000-07:00

According to the California Desert Association of Realtors, Palm Springs area median sold home price for February 2011 was $215,000 up from $185,000 in January 2011 and $156,060 in April 2009, that's almost 27% .

Another interesting statistic is that the Median Sold Price in January 2011 was $185,000 for houses and condos, a very rare occurrence.

From my experience as a real estate agent in the Palm Springs area, I would attribute a good part of the increase in sales and demand to our Canadian neighbors who love the desert , and saw the value in our real estate prices.

The fact that the Canadian Dollar is hovering at par or better with the US Dollar was and still is a major contributor in the decision to buy a vacation home in the Coachella Valley.

I believe that March and April 2011 will produce good numbers too based on my personal experience and lined up appointments.

The easiest way to finding homes in Palm Springs , La Quinta , Palm Desert, and all Desert Cities

Palm Springs: $8000 Tax Credit Still Good till 4/30/11 For Military ...

2010-10-04T16:15:00.000-07:00

Did you know that the $8000 Tax Credit is still good for members of the Military & some Federal employees in the intelligence community until April 30, 2011 to have a binding contract, and Closing deadline of June 30, 2011. "It applies to any individual (and, if married, the individual’s spouse) who serves on qualified official extended duty service outside of the United States for at least 90 days during the period beginning after Dec. 31, 2008, and ending before May 1, 2010. "

This is an great opportunity for those who are renting to take a look at buying a home. Home prices are very favorable, coupled with FHA 3% downpayment and incentives , and interest rates at their lowest , lead to a win win situation .

For all the details go to IRS-First-Time Homebuyer Credit: Members of the Military and Certain Other Federal Employees

Find affordable real estate in Palm Springs , Palm Desert , La Quinta , Indio , Cathedral City.

What You Should Know Before You Opt to Short Sale Your Property

2010-10-01T15:26:00.000-07:00

Homeowners in the Palm Springs area who are opting for short sale is on the increase compared to foreclosed properties by about 1.5 to 1, and might not be aware of the different Federal and California programs that are available to help them , especially if they are going through a hardship.

This is a short video from the Making Homes Affordable that the government put out and to my surprise only 57000 people watched it.

Options available to you :

1- Loan Modification at Making Home Affordable , if this will not work for you , there is;

2- The Home Affordable Foreclosure Alternatives HAFA

3- Recently FHA launched a new program SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS .

And in California a new program Keep Your Home will start on November 1, 2010 and has different options.

If you if are in a situation where you have opt for a Short Sale on your property , then make sure you check with your Attorney and your Tax Accountant first , so that you do not get hit down the road with a Deficiency 1099 or Income Tax as a result of the Short Sale.

Always be wary of SCAMS they lurk everywhere and at all levels. Check the Loan Scams Alert to learn how to spot a scam.

To find out what your home is competing with in your city or neighborhood, visit my website where you can compare your home with listings in the Desert MLS .

Google to Fund Low Income Housing in Palm Springs

2010-09-04T11:52:00.000-07:00

Google is providing $86 million for Low Income Housing, to fund 480 units in the Midwest & West Coast , and some of that is coming to Palm Springs .

That means construction jobs and a boost to the local economy and will provide affordable housing for low income home buyers in Palm Springs.

Since most people refer to the Coachella Valley as Palm Springs , we won't know until more details are available, if these units will be within the city limits of Palm Springs, or in other desert cities in the Coachella Valley.

Any and all real estate developments are welcome in the Palm Springs area as they provide well needed jobs .

The money will be given to low income builders and developers in the form of tax credits , the program will be managed by U.S. Bancorp Community Development

Corporation .

For more details read Francesca Levy's article .

Find homes the easy way Palm Springs , Palm Desert , La Quinta , Rancho Mirage , Indian Wells

Is It Time To Buy ? Palm Springs Area Median Home Prices Up $40,000 in 1 Year.

2010-08-21T16:19:00.000-07:00

A question being asked on a daily basis, and answered speculatively depending on which part of the country you live in. Some foresee more doom and gloom, others see opportunity and stability edging up.

I can only talk about Palm Springs real estate , the Desert Cities , my personal experience as a real estate agent in this part of the country, and hard data supplied by our Desert Area MLS.

The chart below, shows the Median Prices by California regions , and current Month vs. Year ago .

The numbers are encouraging and they represent hard numbers based on the Desert MLS real estate activities for that period.

As for July , that's where my personal opinion based on my activities as realtor comes in. I personally had a busy July and busier August so far . And with our desert season approaching , the Canadian and Northwest Snowbirds will start flocking and that should boost more home sales and the prices.

So is it time to buy ? I say yes based on several factors :

1- Prices in the Palm Springs Area are have been going up.
2- Interest rates are at historic lows.
3- Inventories are at their lowest since August 2009 in the Palm Springs Area ( Source California Association of Realtors)
4- Several FHA & California programs are coming on this fall to help people keep their homes. Read my previous blogs for details.

Your thoughts ?

Do You Owe More on Your Mortgage than Your Home Is Worth?

2010-08-14T12:49:00.000-07:00

If you are underwater with your mortgage, FHA announced a New Program designed to encourage principal write-downs for responsible borrowers.

The program starts September 7, 2010.

If Lenders cooperate with this program, that could help a huge number of people contemplating a Short Sale.

Before you start defaulting, read this and always get advice from your Accountant for any possible Tax implications.

HUDNo.10-173/U.S. Department of Housing and Urban Development (HUD)

Brought to you by
Abraham Baghbodorian, Realtor, Palm Springs & Desert Cities

How to KEEP YOUR HOME in California . 4 CalHFA Programs to Help Struggling Homeowners.

2010-08-09T14:09:00.000-07:00

Many Californians who are struggling with their mortgage payments and do not want to default or end up in foreclosure , should take a serious look at these 4 Keep Your Home programs.

The, California Housing Finance Agency CalHFA , got approval for $700 Million in Federal Funding from the US Treasury Department to help California struggling homeowners keep their homes.

There are 4 different Programs intended to help struggling, financially distressed homeowners to avoid defaulting and foreclosures. All programs start November 1, 2010 and it is time that homeowners start familiarizing themselves with these programs .

The 4 programs are summarized here, and linked to the programs :

Program 1- Unemployment Mortgage Assistance (UMA) . This program provides a mortgage payment subsidy equal to the lesser of $1,500 per month or 50% of the PITIA (principal, interest, tax, insurance and homeowner’s association dues) net the borrower’s contribution, for up to six (6) months, with the purpose of preventing avoidable foreclosures until such time the borrower retains employment sufficient to meet demands of satisfying their regular mortgage payment.
The borrower will be required to contribute no more than or equal to 31% of their gross monthly household income towards the monthly mortgage payment based on CalHFA MAC, lender/servicer determination.
Download UMA requirements, details & eligibility here ( pdf )

Program 2- Mortgage Reinstatement Assistance Program (MRAP) . This program will provide limited financial assistance in the form of funds to reinstate mortgage loans that are in arrears in order to prevent potential foreclosures. These funds will provide benefits of up to $15,000 per household or 50% of the past due amount, whichever is less, with a required dollar-for-dollar contribution match from the lender, servicer, insurer and/or borrower.
Download MRAP requirements , details & eligibility here (pdf)

Program 3- Principal Reduction Program (PRP) . This program will provide capital on a matching basis with participating financial institutions to reduce outstanding principal balances of qualifying borrowers with negative equity. Principal balances will be reduced to market levels needed to prevent avoidable foreclosures and promote sustainable homeownership. The principal reduction program should most likely be a prelude to loan modification.
Download PRP requirements, details & eligibility here (pdf)

Program 4- Transition Assistance Program (TAP). This program is to provide homeowners with relocation assistance when it is determined that they can no longer afford their home. CalHFA's transition assistance will be used in conjunction with servicer/investor short sale and deed-in-lieu of foreclosure programs in order to help borrowers transition into stable and affordable housing. Borrowers will be responsible to occupy and maintain the property until the home is sold or returned to the lender as negotiated. Funds will be available on a one-time only basis.
Download TAP requirements, details & eligibility here (pdf)

Brought to you by,

Abraham Baghbodorian, Realtor

Official Google Enterprise Blog: Google Apps Marketplace - CRM highlights, 7/27/2010

2010-07-28T20:37:00.000-07:00

Official Google Enterprise Blog: Google Apps Marketplace - CRM highlights, 7/27/2010

Palm Springs Area Median Home Price Up by 31.2%

2010-06-09T16:11:00.000-07:00

According to the California Association of Realtors , Median home prices in the Palm Springs Area up by 31.2% from its worst & lowest period in April 2009, when the median home price reached as low as $150,140.

As of April 30, 2010 , the Desert Area MLS median home prices jumped to $197,040 from it's $150,140 low within a 12 month period.

The Palm Springs Area comes in as number 4 among 13 California regions, and preceded by San Francisco Bay Area, Santa Clara and the Monterey Region, but these 3 regions took 14 months Vs. the 12 months for the Desert Cities to attain their positions.

Los Angeles came in as number 11.

More real estate good news came from Lenders Processing Services' Data Report as of April 30, 2010 which states that "Delinquent and Foreclosure inventories are starting to stabilize". You can download the full report here.

There are still some good real estate buys to be had in the Palm Springs Area:

Palm Springs Condos $ 50,000 - $100,000
La Quinta Condos For Sale $100,000 - $200,000
Palm Desert Homes Between $100,000 - $200,000
Palm Desert Condos $ 50,000 - $100,000
Rancho Mirage Houses $100,000 - $200,000
Rancho Mirage Condos $100,000 - $200,000

Abraham Baghbodorian

Facebook's New Privacy Approach Shifts Control Back to User

2010-05-26T14:32:00.000-07:00

Is The New Breed of Real Estate Investors Distorting the Market ?

2010-05-21T11:57:00.000-07:00

In a REALTOR® Magazine-Daily News Article titled :

Wholesalers Flip Houses, Distorting the Market

Associate director for housing and economics Andrew Jakabovics, at the Center for American Progress, a Washington, D.C., think tank argues that "It makes the bottom [of the market] very frothy and hard to figure out where real value is."

Others argue that it makes it harder for lower-income families to take advantage of a down market.

My take is "Cash is King" when it comes to lenders in a real estate transaction. My question is how could it be controlled ?

What are your thoughts on the subject .. I would love to hear some arguments .

The Power of Local Websites For MLS Search of Homes For Sale

2010-04-15T16:48:00.000-07:00

All the marketing experts nowadays are advocating the importance of getting ones business listed local on search engines because it saves web surfers tremendous time and frustration .

When it comes to real estate searches for homes for sale, local websites that provide MLS listings are as important and powerful. My local site features the Desert MLS for all Desert Cities, and is divided by city, by subdivisions, homes , condos, luxury homes and price range.

Two days ago, I submitted an offer on a property for an out of state client . The seller countered with an offer for an amount higher than the listing price. My client rejected it , and I went to check for him on other available properties , and I suggested that he should log on to my website and take a look under the country club subdivision he is interested in and check the listings.

Half an hour later, he called me and gave me a property address he saw on my website and wanted to check it the next day. I right away contacted the listing Agent to find out if it was still available, and was told that he has two offers , but he had till midnight to submit the offers to the bank.

I contacted my client and off we went to check it. Husband and wife both loved it. We went to the office and I prepared the offer for him to sign and emailed it.

His offer was accepted and he saved quite a chunk of money , and I have one more very happy client .

That's the power of local websites that offer MLS listings .

Thank you for stopping by!

Abraham Baghbodorian

California Distressed Homeowners Debt Tax Forgiveness - WHO Qualifies ?

2010-04-13T15:03:00.000-07:00

If you are a Californian who went through a ShortSale, Foreclosure or Loan Modification, the State of California yesterday passed the long Mortgage Forgiveness Debt Relief legislation .

Who and What Qualifies For The California Mortgage Forgiveness Tax Relief ?

Debt can be forgiven by the State of California up to $500,000 for taxpayers who file as married/registered domestic partners (RDP) filing jointly, single, head of household, or widow/widower, and to $400,000 for taxpayers who file as married/RDP filing separately.
Your total indebtedness limit is $800,000 for taxpayers who file as married/registered domestic partners (RDP) filing jointly, single, head of household, or widow/widower, and to $400,000 for taxpayers who file as married/RDP filing separately.
The debt must be secured by a Qualified Principal Residence.
The debt can include 1st & second mortgages.
The indebtedness incurred in acquiring the property, in constructing the property or by substantially improving the property.
The Tax exemption is for debts discharged between January 1, 2009 and December 31, 2012.
For those who already filed their Taxes for 2009 , you can file form 540X (amendment) and claim your exemption.

California Mortgage Debt Relief

The Federal Mortgage Relief Act

Brought to you by
Abraham Baghbodorian

Gov. Schwarzenegger signed the Homebuyer Tax Credit legislation, into law.

2010-03-25T16:41:00.000-07:00

Great news for California home buyers and home builders.

A $200 million Home Buyer Tax Credit Bill was signed by Governor Schwarzenegger this afternoon.

The Bill allocates $100 million to First Time Home Buyers , and $100 million for repeat buyers of new or existing homes.
The programs will run between May 1, 2010 and December 31, 2010 with a final closing date of August 1, 2011 provided a binding and enforceable contract was entered into prior to December 31, 2010.
The credit is equal to the lesser of 5 percent of the purchase price or $10,000, in equal installments over three consecutive years.
Buyers must live in the home for at least two years or forfeit the credit and repay it to the State.

This Tax Credit will overlap with the Federal $8000 & $6500 Tax Credits, which expire on April 30, 2010.

Start your Desert Cities MLS search here.

Brought to you by

Abraham Baghbodorian

Good News for Real Estate Investors & First Time Buyers..

2010-02-06T11:16:00.000-08:00

The FHA has eased it's anti-flipping rules by waiving the 90 day rule as of Feb 1st 2010 .

That means real estate investors seeking foreclosed properties to fix and sell can now obtain mortgage insurance for some purchases and be able to flip the property even if they hold it for under 90 days.

That will translate into more affordable first time home buyer homes eligible for FHA financing , and more investors.

The first-time home buyers tax credit expires April 30, 2010.

REALTOR® Magazine-Daily News-IRS Sets New Rules for Tax Credit

2009-12-11T09:27:00.000-08:00

REALTOR® Magazine-Daily News-IRS Sets New Rules for Tax Credit

2009-12-11T09:26:00.000-08:00

REALTOR® Magazine-Daily News-IRS Sets New Rules for Tax Credit

What Does the Tax Credit Extension & Expansion Mean ?

2009-11-05T16:58:00.000-08:00

The President of the California Association of Realtors, James Liptak explains what does the Tax Credit Extension and Expansion mean:

"As it now stands, the federal tax credit will be extended through April 30, 2010, with a 60-day extension if a binding contract is in place prior to the deadline. First-time home buyers will continue to be eligible for a tax credit of up to $8,000, while existing homeowners will be eligible for a reduced credit of up to $6,500. To qualify for the $6,500 credit, existing homeowners must have lived in their current residences for at least five years. The bill also increases the qualifying income limits from $75,000 for single tax filers and $150,000 for joint filers to $125,000 and $225,000, respectively. The purchase price of the home is capped at $800,000 in both instances.

Under additional provisions included in the bill, taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns. The legislation maintains the provision that home buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, and waives this requirement for active duty military personnel who move due to a military order."

If you or someone you know has been thinking of buying a home and taking advantage of the Home Buyer Tax Credit , you should not procrastinate. This opportunity in my humble opinion will not come around again!

Abraham Baghbodorian

Let me know what you think !

Senate Voted to Extend Tax Credit. New Hope for First Time Home Buyers

2009-11-04T21:33:00.000-08:00

In a 98-0 vote the Senate today voted to pass the Extension of the Tax Credit for home buyers, and it is expected to pass in Congress and be signed by President Obama on Friday. More details of the extension will follow.

That is great News for First Time Home buyers who were trumped by investors paying cash for affordable housing. Now they get a second chance.

At least in our Palm Springs area, it was frustrating for many first time buyers who qualified with flying colors to purchase a home. Many submitted offers on Bank Owned houses, contended with the frustrations of the waiting period, only to find out that their offer was trumped by investors paying cash and winning the properties for less than the asking price.

That scenario was getting very familiar during the past couple of months, when buyers were trying to stay within the Tax credit deadline date of November 30.

Now these folks will have some more breathing room, and the economy might get another shot in its recovery.

Abraham Baghbodorian

Halloween PUMPKIN PATCH OCT.24.09 . LA QUINTA, CA

2009-10-22T15:04:00.000-07:00

La Quinta Halloween Pumpkin Patch

Saturday October 24, 2009 from 10AM to 3PM at Tarbell Realtors . Featuring a Haunted House, free Pumpkins for the kids, Japanese tattoos, a Costume Contest and a lot more, see the flyer below:

Bring the kids and join us for a fun filled and safe Halloween celebration . Don't forget to bring a can of food for Martha's kitchen.

Hot Palm Springs Homes

The West Again Leads in The Pending Home Sales Index

2009-10-15T11:25:00.000-07:00

According to Lawrence Yun , Chief Economist , National Association of Realtors ;

"The Pending Home Sales Index in the Northeast jumped 8.2 percent to 85.3 in August and is 12.0 percent higher than August 2008. In the Midwest the index rose 3.1 percent to 90.8 in August and is 7.6 percent above a year ago. In the South, pending home sales increased 0.8 percent to an index of 104.6 and is 8.2 percent above August 2008. In the West the index surged 16.0 percent to 130.5 and is 22.3 percent above a year ago."

Lawrence Yun, NAR's Chief Economist talks about the rise in the Pending Home Sales Index for the seventh straight month & the need of the extension and expansion of the $8,000 Tax Credit.

Source:
Realtor.Org Magazine

Palm Springs No 2 Among 25 Best Places To Retire

2009-09-30T11:30:00.000-07:00

What is it like to retire in the Palm Springs Area?

350 days of sunshine, glorious sunsets, 365 days of golfing , great restaurants, and entertainment at its best, Real Estate prices are low, but we are seeing a shrinking in the inventory of homes coming for sale.

Money Magazine voted Palm Springs as No 2 among the 25 best places to retire , with Port Charlotte, FL coming as No 1.

The article talks specifically about the city of Palm Springs, though to most non-residents , when they refer to Palm Springs, it could mean any of it's sister desert cities.

Due to it's popularity since the early 1900s, Palm Springs has become the flag name for the whole Coachella Valley which is made up of nine cities; Rancho Mirage, Indian Wells, Palm Desert, La Quinta, Cathedral City, Indio, Desert Hot Springs and Coachella .

All nine cities have become extensions of each other, yet each city has managed it's own uniqueness.

I would like to extend an invitation to anyone who has not yet visited the Palm Springs Area, to come and explore the beauty and serenity of Desert Living.

A perfect October day in Palm Desert

Maybe I am biased, but moving to the Desert from Los Angeles over 6 years ago, was the best decision my wife and I made, and probably added a few years to our lives.

You can find out more information about Palm Springs and its sister cities and their history by visiting HotPalmSpringsHomes.com

Advice to California Homeowners seeking Loan Modification. Beware of Scams

2009-09-29T15:08:00.000-07:00

Some California homeowners who have fallen on some hard times yet are still trying to do the right thing and opt for loan modification instead of walking out and having their homes foreclosed, are finding themselves victims to yet another loan modification scam. This time by attorneys.

The State Bar of California grew very concerned at the number of lawyers participating in loan modification scams that they felt they needed to publicize the names of 16 such attorneys who are being investigated http://calbar.ca.gov/state/calbar/calbar_generic.jsp?cid=10144&n=96395

Some advice to homeowners seeking loan modification

1- Beware of telemarketers selling loan modification .
2- Before you contact any company for loan modification , check them out. Call the Better Business Bureau. If it's an attorney contact the Bar association .
3- Contact the government agencies http://hud.gov and get a list of reputable companies
4- Contact your real estate agent who might have additional resources.

Seven Reasons Why First Time Home Buyers Should Not Procrastinate.

2009-09-16T15:11:00.000-07:00

1- Time is running out on the $8000 Cash Tax Credit . It Is only good for homes that have a Closing date before Dec. 1, 2009 .

2- The average closing takes anywhere from 45 days to 3 or 4 months depending whether your Offer is on a Straight Forward Home Purchase, Short Sale or Bank Owned Property.

3- The FHA 3.5% down payment eliminates the high cash down payment you would otherwise require.

4- Programs that allow you to borrow against the $8000 Tax Credit for closing cost are now available.

5- The number of affordable houses is dwindling.

6- Interest Rates could start inching up due to inflation and other factors.

7- The combination of low home prices , low interest rates , low down payment on homes, and the $8000 Tax credit is an unprecedented opportunity for First time buyers, especially renters who want to own their home.

Hot Palm Springs Homes