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October 2014

October Market Update for Greater Palm Springs Real Estate

At the end of October, there were 4,086 active residential listings in the Palm Springs and surrounding resort communities of Rancho Mirage, Palm Desert, Indian Wells and La Quinta. Although our current real estate inventory is slowly increasing, we continue to see a low inventory of homes for sale on market (5.7 months of inventory for the combined cities as the sold properties for the last six months totaled 4,383).

The relatively low inventory indicates we are in a neutral real estate market in the Greater Palm Springs area.

Through the end of September the sales price as a percentage of the original list price remained level at 93% however, the average days on market has increased to 116 days on average.
Real Estate Palm Springs Rancho Mirage Palm Desert La Quinta

What does a neutral market mean for you? If you are planning to sell your home in the Greater Palm Springs area, this is a perfect time. Sales prices are slowly increasing.

If you are a buyer, the market is moving up and finding the right home is challenging. Low inventory and concerns that our low interest rates may be on the rise means it is more important now than ever to work with a real estate professional familiar with the local communities of Palm Springs, Rancho Mirage, Palm Desert, Indian Wells and La Quinta.

Sellers, to capitalize on a return on your investment your real estate professional needs to understand the local marketplace, the internet market and offer you substantial advertising resources.

 We are predicting an active season in the desert real estate marketplace!

You’re Invited: Palm Desert Golf Cart Parade Turns 50!

palm desert golf cart parade el paseo san luis rey
The fun starts here! The 50th Annual Palm Desert Golf Cart Parade starts its trek at the corner of El Paseo and San Luis Rey.

If you’ve never attended the “Golf Capital of the World’s” annual golf cart parade, here’s your chance to make up for lost time. The 50th parade, “Palm Desert on Parade – Through the Decades 60s, 70s, 80s, 90s and Present Day”, will start at 1:00 p.m. on Sunday, October 26, 2014. The 3/4-mile parade route is westbound on El Paseo from San Luis Rey to Ocotillo. There won’t be any crying at this party, replete with whimsically decorated golf carts, pageantry, marching bands, and good vibrations. Making a special appearance will be The USC Trojan Marching band, The Spirit of Troy.

The world-famous Palm Desert Golf Cart Parade was born in the early 1960s, the brainchild of several fun-loving individuals. It used to be held in July for the benefit of local residents and didn’t become an annual event until 1983. Today, the Palm Desert Area Chamber of Commerce, the City of Palm Desert and a committee of volunteers collaborate on this must-see celebration, held on the 4th Sunday in October. Only electric-powered carts no larger than 14’x16’x30’ are permitted, and they must be decorated. Squads, groups and clubs with a decorated cart may also participate. Nominal entry fees apply.

Palm Desert Golf Cart Parade family-friendly activities include: Rotary Pancake Breakfast (Bank of America parking lot), Golf Cart Car Show, Webb Foundation’s Kid’s Free Play Zone (Larkspur, south of El Paseo), Food & Drink Vendors, Awards Ceremony (corner of El Paseo & San Luis Rey), and Palm Springs Air Museum Flyby (approx. 12:50 p.m.)

For event schedule and additional information visit golfcartparade.com

Since October high temperatures average 91º, it is advisable to wear a hat and sunblock. We also recommend having fun fun fun ’til the t-bird (golf cart) rolls with the others away!

You can also view more with this great video posted by Palm Springs Life magazine!

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