Palm Springs Town & Country Blog
Stay up to date with what's going on at Palm Springs Town & Country Realty, learn about the Palm Springs area, read tips for those purchasing homes, follow trends in Coachella Valley real estate and so much more!
Home sellers this season are taking a more grounded approach to pricing than they did in the fall, as buyers grow more selective and less willing to overpay.
In a Redfin survey last month, 57 percent of home sellers said their strategy was to price their property in a middle range, an increase of 7 points from our October survey. Thirty-two percent said they would price high, down from 34 percent.
Sometimes is pays to wait until the last minute.
Let’s face it. Some of us aren’t planners. If it’s just occurred to you that you really want to check out Modernism Week, we’d like to officially encourage you to do so. With over 250 events planned over the ten day celebration, there are still tickets available. Here’s a handy round-up of things to do and places to go for the last minute traveler.
Modernism Week, the annual celebration of mid-century modern design, architecture, art, fashion, and culture in Palm Springs kicks off in just 2 days!
Modernism Week features more than 100 events including the Modernism Show, home tours, films, lectures, double decker bus tours, parties, walking and bike tours, a pre-fab showcase, vintage fashion, live music events, a vintage travel trailer exhibition, and more.
Modernism Week After Dark will feature world-class entertainment at Palm Springs hot spots like The Purple Room, Hard Rock Hotel, and Caliente Tropics hotel. MWAD kicks off Thursday Night when The Caliente Tropics Hotel will be transformed into a Mid-century Modern Mambo club designed by Socialize Palm Springs. The Caliente Tropics Hotel was built in 1964, and is the original home of the Congo Room in Palm Springs.
The Palm Springs Art Museum offers free admission every Thursday night from 4-8 p.m., sponsored by the City of Palm Springs.
The Palm Springs Art Museum features a sophisticated collection of art, loaned or donated by the area's residents. The museum has an art collection that rivals urban metropolitan museums, and includes works from Marc Chagall, Pablo Picasso, Andy Warhol, Roy Lichtenstein, Donald Judd, Louise Bourgeois, Alexander Calder, Henry Moore, Robert Rauschenberg, Antony Gormley and Ansel Adams. The 150,000 square foot museum boasts major collections of modern and contemporary art, glass, photography, architecture and design and Native American and Western art. There are two outdoor sculpture gardens, a café featuring American and Continental cuisine, and a museum store that includes one-of-a-kind gifts and art-related merchandise.
The museum is open every day except Mondays and major holidays, and is always 75 degrees, providing a welcome respite from the Palm Springs summer triple-digit temperatures.
Free Thursday Nights at the museum is a great way to start an evening at the Palm Springs VillageFest, the weekly street festival held every Thursday night along Palm Canyon Drive.
See you there!
The La Quinta Arts Festival is back and better than ever! For the 2014 event, the La Quinta Arts Foundation (LQAF) received a record number of 1,100 applicants from across the country vying for the coveted 230 exhibition spots.
Presented by La Quinta Arts Foundation, La Quinta Arts Festival is one of the oldest and most esteemed art shows in the country, consistently ranked among the top art fairs held in the United States. Now in our 32nd year, and rated #1 by Art Fair Source Book, the La Quinta Arts Festival is held annually the second week in March.
La Quinta has been among the best destinations for fine art for more than three decades. The ranking is determined by the average sales of each artist. During the 2012 30th Anniversary event, La Quinta Arts Festival set new event records for art sales, exceeding $2.5 million, and increased attendance by over 30% over the previous year.
“The diversity, quality and expertise of our artists consistently deliver a first class show that generates higher average sales per artists than any other show in the country.” says LQAF Executive Director Christi Salamone.
The increasingly renowned Palm Springs International Film Festival is underway here in our desert oasis. Now in its 25th years, the PSIFF has become widely regarded as the kickoff of awards season for the film industry.
"(The festival) has a dual purpose really," actor Tom Hanks told USA TODAY. "It's the end of the holidays and the true beginning of the trophy run season. And the truth is, you're lucky if you get invited."
Film legend Meryl Streep was honored at this years event teh Icon Award. Streep accepted the Icon Award from August co-star and longtime friend Margo Martindale.
The 64-year-old three-time Oscar winner admitted the grand title felt strange.
"I don't feel like an icon," Streep said after accepting the award. "Most days I feel like an 'I can't,' that's with an 'A.' I'm an actor, that's all I am."
"I'm an example, in my dotage, that you just can't put these old gals out to pasture," said Streep, alluding to Hollywood's perception of aging actresses. "We got a lot of stuff to say."
Streep is just one of a long list of A-lister who will be in attendance, including Sandra Bullock (recipient of the Desert Palm Achievement Award on Saturday), Julia Roberts, Matthew McConaughey, Bono, Tom Hanks, Bruce Dern, and many more!
As 2013 draws to a close, we look back on the events that shaped our lives for the past twelve months... and start looking forward to a Palm Springs New Years Eve!
Palm Springs has some great options for Coachella Valley residence, ranging from mild to wild. Here are just a few of the top choices...
With inventory dwindling and real estate prices climbing, many would wonder if flipping houses in the Coachella Valley is still a worthwhile investment.
Flipping homes is buying, rehabbing and reselling for a profit usually within about 90-180 days. Typically, home that are flipped are fairly run-down, lower-end home that can be bought cheap. The inventory of these types of homes has been depleted by the improving real estate market. This, coupled with rising home prices, makes buying in to the home filipping business a bit more costly. However, those same rising real estate prices will, ultimately, make your flip more porfitable, too.
All in all, the outlook is good for flipping homes in Palm Springs and the Coachella Valley. RealtyTrac says "Flipping homes...will likely become more favorable for investors...as home prices are expected to continue climbing." In the same article, RealtyTrac names the Inland Empire 16th on their list of the 25 Markets Where Flipping Homes is Most Profitable.
Luxury Home Flipping in the Rise
Afetr the real estate market crashed in 2008, the market was flooded with foreclosures that could be renovated and sold for a profit. In 2013, the inventory of foreclosed and bank-owned homes is severely delpleted. This has given rise to a new trend in real estate investment: luxury home flipping.
Investors have turned their attention away from run-down properties and are setting their eyes on the luxury market. According to Daren Blomquist, vice president of RealtyTrac, million-dollar homes are an untapped market.
“Investors have actually run out of inventory on the low end of flips, and now they’re moving to the higher end”, says Blomquist. He believes that, for the home flipper, million dollar homes are an untapped market.
Luxury home represent a part of the market where, if you have the money to invest, you stand to make a large profit. The high demand for California homes coupled with the lack of inventory, investors can mnore safely take bigger risks investing in luxury properties and recouping their money when they sell.
It's a great time to invest in Palm Springs real estate! Palm Springs Town & Country Real Estate can help!
Almost a Million Twinkling Lights Illuminate the Park with Holiday Joy
WildLights at The Living Desert, one of the Coachella Valley’s most adored and sparkling holiday traditions, is underway now!
“We are excited to announce the Tunnel of Lights is back by popular demand!” says Stacey Johnson, CEO & President of The Living Desert. "WildLights is one of our favorite events of the year, and this year’s display is going to be the biggest and best yet, with more twinkling lights and exciting holiday fun for the whole family.”
Underwritten by the H.N. & Frances C. Berger Foundation and sponsored by the City of Indian Wells, WildLights transforms the zoo into an amazing winter wonderland with almost a million colorful, twinkling holiday lights. This year’s event will feature new light displays, visits with Santa
Claus, Wildlife Wonders shows, camel and carousel rides, and food and beverage stations.
“We are proud to sponsor WildLights, a special desert tradition that brings lasting memories for families and friends during the holidays,” says Christopher McGuire, Vice President of Programs for the H.N. and Frances C. Berger Foundation.
(What a great way to end a day of shopping for Palm Springs Real Estate!)
Check out WildLights at the Living Desert December 13, 14, 19-23, 26-31 from 6:00pm - 9:00pm.
Adult tickets are $10; Members, Children, Military (with ID) are $8; and children under 2 are free.
For more information, visit www.LivingDesert.org or contact 760-346-5694.
Our oasis isn the desert could very well be the next Silicone Valleey, and if Joel Fashingbauer, Silicon Springs Ventures’ president and chief operating officer, has his way, it will happen sooner than later!
Last week, the CV Independent had this to say:
"In October, Fashingbauer and his four partners launched Disruptor Labs, a project to develop online apps and mobile products. Silicon Springs is working with CVEP’s Workforce Excellence effort—the goal of which is to create a better-trained, more-educated local workforce—to launch the STEAM Pipe Initiative at local schools, including College of the Desert. The company is helping develop a program, called Encore, that will pair retired and semi-retired executives in banking, technology and other applicable fields with startup entrepreneurs in need of expertise. Finally, the Silicon Springs Ventures team has been meeting with people from various tech startups—about 45 or so, Fashingbauer estimates—and will help the most promising find funding.
All of these plans undeniably sound great. But they also lead to a question: Why the Coachella Valley? Why here?
Fashingbauer, in an interview prior to the tech meetup, said he gets asked that question a lot. For him, in part, it’s personal: His wife has family who lives in Palm Desert, and he’s been coming here for about 15 years.
“It’s been our oasis,” he said, mentioning the “Sunday blues” that all smitten visitors face when they have to leave this oasis to return home.
But the “why” also goes beyond the personal. Fashingbauer pointed to the great weather, the affordable cost of living (especially regarding housing, when compared to Silicon Valley and its Los Angeles descendent of sorts, Silicon Beach), the lack of traffic and the overall quality of life that makes the Coachella Valley an attractive place for tech businesses."
What does thi mean for Coachella Valley Real Estate? Nothing but good things! Consider the effect the tech industry has had on home prices in Silicon Valley itself. The average home price in Silicone Valley has topped $1million almost every month of this year!
Ready to invest in your slice of the Coachella Valley? Give us a call, and let our team of Palm Springs Real Estate and Cochella Valley Real Estate professionals get to work for you!
Read the entire CV Independent article here: http://bit.ly/1beDDNo