Palm Springs Area Real Estate

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 : 

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

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