Palm Springs Area Real Estate

There isn't a single day that goes by without new reports being published about real estate, home sales and projections, but these reports are usually about California in general and other large metropolitan areas. Palm Springs and Desert Cities rarely get reported on , so here is the latest and it is good. Prices are up, inventory is down. Hundreds of people who visit my website daily are interested in what's happening with real estate and homes sales in the Palm Springs area. If you are looking to invest, buy a vacation home or upgrade to a larger home, the table below will show you the hot spots, and the where the good deals will be. Here is a breakdown of the California Desert Association of Realtors' report of average prices of homes Sold in Palm Springs and Desert Cities in November 2011 compared to November 2012 by Desert City: November 2011 Palm Springs $375,000 Cathedral City $143,000 Rancho Mirage $660,000 Palm Desert $411,000 Bermuda Dunes

It's mid October and seasonal residents & vacationers started arriving to the Desert from Canada  , the Northwest and the Midwest of the USA, and some are here for the first time and wondering where they can golf . Here is a list of Public and Semi Private Golf Courses in Palm Desert: palm desert public golf courses

The following is a breakdown of the California Homeowner Bill of Rights which was signed into Law, as presented by the California Association of Realtors. Assembly Bill 278 and Senate Bill 900, is available at www.leginfo.ca.gov. Applicability of the Law: This law will generally come into effect on January 1, 2013. It only pertains to first trust deeds secured by owner-occupied properties with one-to-four residential units, unless otherwise indicated below. "Owner-occupied" means the property is the principal residence of the borrower and secured by a loan made for personal, family, or household purposes (CC 2924.15). A "borrower" under this law must generally be a natural person and potentially eligible for a foreclosure prevention alternative program offered by the mortgage servicer, but not someone who has filed bankruptcy, surrendered the secured property, or contracted with an organization primarily engaged in the business of advising people how to extend

Finally after all the negative news about housing and prices, the trend in greater Palm Springs show some pretty good signs of home prices going up , and the inventory going down . We saw median home prices of sold homes  going up month over month in 2012.  In January 2012 the median sold price was $168,000 and has been rising ever since, the May 2012 median price was $220,000 , and I see the trend continuing based on the fact that inventories of available homes is down to 3.3  based on listings, and 2.9 based on pending sales. Below is a snapshot of the May 2012 report ,  see the full report here If you are interested in receiving a report for a specific city in the Palm Springs area, or for a specific community,  you can request report here and I will be glad to generate it for you. Find and View homes, condos and luxury homes for sale in Palm Springs and all Desert Cities here For Immediate Assistance call me at 760-600-6187

Bank of America announced on May 8, 2012 that they started mailing letters to some 200,000 home owners who are underwater with their mortgage.  The goal is "retention" through helping eligible struggling home owners with principal balance reduction on their mortgages. This move is part of the settlement reached between the Banks and the Federal Government and accepted by 49 State Attorneys. To be eligible, the home owner must : Owes more on the mortgage than the property is worth today. Was at least 60 days behind on payments on January 31, 2012. Has a contractual monthly payment for principal, interest, property taxes, hazard insurance and any applicable homeowner association fees totaling more than 25 percent of gross household income. Has a loan that is owned and serviced by Bank of America, or serviced for another investor that has given the bank delegated authority to do such modifications. For all the details read BOA's Press Release  ePalmSpring

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