Hot Desert Real Estate Information & News

Get hot information about all the desert communities around the Palm Springs and Palm desert areas. You can get market updates of how the real estate market is fairing in all the areas plus interesting things going on.

May 20, 2019

Skyborne Developer Planning To Resume Construction On New Homes

 

The Desert Sun’s real estate and business reporter, Amy DiPierro, writes that the developer of Skyborne, Lansing Strategic Management LLC, is in the process of hiring a home builder to resume construction on two unfinished neighborhoods within the Skyborne community. Skyborne is a 640 acre planned community, located 3 miles to the west of downtown Desert Hot Springs, bounded by Mission Lakes Boulevard, Worsley Road, Karen Avenue and Pierson Boulevard.

In the early 1990s, before the Skyborne site was annexed by Desert Hot Springs, a development proposal called for 1,560 residential units and an 18-hole golf course. In 2004, City leaders approved plans calling for 2,140 homes. D.R. Horton started construction in Skyborne in 2006 and completed just 178 homes before selling the balance of the project in 2008 as the Desert housing market crashed.

Currently, Lansing Strategic Management is planning to build the remaining 216 of 394 homes in the first two neighborhoods of the development over the next two years.  After that, Lansing Strategic Management can exercise an option to buy back the rest of the neighborhoods and start building in them. Lansing Strategic Management has not yet set a date to resume construction nor have they set prices (although resale home prices in Skyborne over recent months have averaged about $260,000 to $270,000).

Lansing Strategic Management is not the only developer in the Coachella Valley reviving projects that were halted as a result of the housing downturn. In Palm Springs, two long-delayed residential projects are set to move forward. Toll Brothers purchased a site that is slated for 102 townhouses (originally called the Cameron and now renamed Cody Place) and Freehold Communities is scheduled to begin building its first homes in Miralon (formerly called Avalon), a 1,150-home , 309 acre agriculture-oriented community that will include a 7,000 olive trees. Despite these developments, new home construction in the Coachella Valley is still far below pre-recession highs. There were roughly 7,000 new homes permitted annually in the Coachella Valley between 2004 and 2006 (with as many as 8,478 new homes permitted in 2004 alone), versus a preliminary estimate of 1,207 new homes permitted in the Coachella Valley in 2018. Desert Hot Springs permitted 41 new homes in 2018, according to Census data, a steep decline from the peak of 1,254 units permitted in 2004. And in Palm Springs, a preliminary estimate shows 152 new homes permitted in 2018 versus 784 new homes permitted in 2005.

To read Amy DiPierro’s original article, courtesy of The Desert Sun: https://www.desertsun.com/story/money/real-estate/2019/05/06/desert-hot-springs-housing-development-skyborne-plans-resume-construction/3591658002/

May 18, 2019

Open House: Renovated Desert Falls Country Club Golf Course Condo | May 19th

Open House: Renovated Desert Falls Country Club Golf Course Condo | 348 Vista Royale, Palm Desert, CA | Sun May 19th from 10am to Noon

Renovated Desert Falls Country Club condo, with stunning golf course and mountain views. This large 3 bedroom, 3 bathroom condo has been updated with plantation shutters throughout, newer carpet in the bedrooms, newer kitchen cabinets, granite counters, recessed lighting and stainless steel appliances. Two of the three bedrooms feature ensuite bathrooms and walk-in closets; making this the perfect unit for 2 couples. Large front porch features stunning San Jacinto mountain views. Large rear balcony overlooks Desert Falls Country Club’s 15th green and 16th fairway with beautiful Chocolate Mountain views. Two car garage with room for driveway parking. 

Desert Falls Country Club, a community of roughly 1,100 condos, villas and single family detached residences, offers its residents and guests 34 pools and spas, 9 tennis courts, a state of the art fitness center, a large modern clubhouse with bar, indoor and outdoor dining areas and a semi-private 18 hole championship golf course. It is located in central Palm Desert close to El Paseo, Westfield Mall, McCallum Theater, Agua Caliente Casino, Resort & Spa, The River, Palm Desert’s Desert Willow Golf Course and the JW Marriott Desert Springs Resort & Spa.

MLS# 218029036 | Listed at $299,000 | For more information, photos & 3D Virtual Tour, please visit: http://www.348VistaRoyaleDr.com 

CalDRE# 01898254 | 01896117 | 02043759
Posted in Our Listings
May 17, 2019

World-Class Luxury Community Being Planned For Rancho Mirage

  

(Please click on either image above to view our short YouTube video)

June Allan Corrigan writes in the current edition of Palm Springs Life Magazine about the planned world-class luxury community on Rancho Mirage’s Section 31 (the 618 acres of undeveloped land stretching east from  Bob Hope Drive to Monterey Avenue and stretching north from Frank Sinatra Drive to Gerald Ford Drive; across Bob Hope Drive from Sunnylands).

Section 31 was originally acquired by Walter Annenberg in the 1960s to create a buffer of privacy for his Sunnylands estate. The Annenbergs sold this Section 31 in 1977, with covenant restrictions in place as to its usage. Although long considered a prime location for residential and resort development by developers and builders, a succession of business dealings in the 2000s coupled with a sinking economy stalled plans to develop the property.

However, in March 2018, a group of investors led by a Canadian private equity firm consolidated all the divided interests and purchased the entire 618 acres. The Section 31 ownership group, EC Rancho Mirage Holdings Limited Partnership, has since partnered with Scottsdale based real estate development firm, DMB Development, as the property’s master developer. DMB claims its development will be a luxurious and sustainable grand desert oasis with a clear, swimmable 30-plus-acre lagoon at its center. Elegant, desert-themed residential neighborhoods with a variety of housing types will emanate outward on three sides of the lagoon, interconnected by a series of quiet intimate streets and a network of walking and biking trails. Current plans call for 1,932 residential and hotel branded residential units. A residents’ beach club will occupy the fourth side of the lagoon, creating the ultimate environment for water-based leisure, health, and wellness activities for residents year-round. Plans include an iconic retail village center, with 175,000 sq ft of combined office, restaurant, entertainment, shopping and neighborhood commercial space, and a pair of high-end resort hotel locations, with a total of 400 rooms, providing a range of shopping, dining, entertainment, gallery, and leisure activities for residents, hotel guests, and the public.

While it is an ambitious plan, DMB Development is confident they can deliver an interesting and environmentally sustainable water-based attraction that will further enhance Rancho Mirage’s reputation as a premier destination. In the past, a new Coachella Valley luxury community of this scale would be anchored by one or more golf courses. The planned lagoon will rely on innovative technology to minimize energy, water, and chemical usage and is projected to utilize less than 25 percent of the water that one carefully managed golf course requires. It will also rely on innovative technology to minimize energy, water, and chemical usage.

On March 4, 2019, a Specific Plan for the project was filed with the City of Rancho Mirage, representing the commencement of the entitlement process for the project. To read the Section 31 Specific Plan yourself, please visit: https://section31property.com/wp-content/uploads/2019/03/2019.03.04-2051-Section-31-Specific-Plan-Gen-4-MARCH-4-SUBMITTAL-Revised.pdf

To read June Allan Corrigan’s original article, courtesy of Palm Springs Life Magazine, please visit: https://www.palmspringslife.com/rancho-mirage-section-31/

CalDRE# 01898254 | 01896117 | 02043759
May 15, 2019

Just Purchased: Sun City Shadow Hills Upgraded Pool Home

 

Congratulations to our Team Member, Jennifer Cooper Wolter, who recently helped our clients, Jeff and Angie, purchase their new desert dream home. This home is located in the gated Sun City Shadow Hills community in Indio. This 2 bedroom, 2 bathroom, pool home in Sun City Shadow Hills features an open floor plan, new flooring, a covered rear yard patio, above ground spa, a gunite pool surrounded by custom pavers, all with stunning mountain views. Wishing Jeff and Angie and the seller, Laurel, all the best as they begin this next phase in their lives.

CalDRE# 01898254 | 01896117 | 02043759

May 15, 2019

Just Purchased: Remodeled Palm Desert Vista Del Montana Home

Congratulations to our Team Member, Michelle Wilkinson, who recently helped our clients, Vladlen and Kayla, purchase their first desert dream home. This home is located in the gated Vista Del Montana community in central Palm Desert. This beautifully remodeled home features a kitchen with newer cabinets, slab granite counter tops and stainless steel appliances. The remodeled bathrooms feature newer fixtures, cabinets and counter tops, newer tile floors, a tile shower in one bathroom and a tile tub/shower enclosure in the other. Wishing Vladlen and Kayla and the seller, Margarita, all the best as they begin this new phase in their lives.

CalDRE# 01898254 | 01896117 | 02043759

May 13, 2019

Open House: Elegance, Sophistication & Comfort in the Gated Venezia Community | Thursday May 16th & Saturday May 18th

 

(Please click on the images above to view our short YouTube video)

Open House: Elegance, Sophistication & Comfort in the Gated Palm Desert Venezia Community | Thursday May 16th from 1PM to 3PM & Saturday May 18th from 10AM to Noon | 41688 Via Aregio, Palm Desert, CA

This highly upgraded home, located in the gated boutique community of Venezia in Palm Desert, offers the very best in resort-style living and entertaining. Enjoy the very private rear yard with solar heated pool and spa, waterfalls, misting system and commercial grade outdoor heaters - perfect for outdoor living. The gated front entry creates a wonderful first impression with its private courtyard and fireplace. Interior features include a formal dining room, great room with fireplace and impressive mantle, gourmet chef’s kitchen with slab granite countertops, a cooking grotto, massive custom cabinet storage space and upgraded appliances. Fit for royalty, the very exclusive master suite is a haven for relaxation with a large adjoining dressing room/home gym and an en-suite bathroom that boasts granite counter tops, a soaking tub and glass shower. Luxury touches include a detached casita with its own en-suite bathroom and mini kitchen, French travertine diagonally laid flooring in main living areas, remote window coverings, newer carpeting in bedrooms and casita, fresh designer color paint and a newer ac unit. Numerous amenities make this a beautiful home with attention to details throughout. Records indicate 4 bedrooms but it is 3 bedrooms with den that includes Murphy bed that could be converted to an optional 4th bedroom. Home features 3.5 bathrooms.

Features Of This Home At A Glance:

  •         Great Central Palm Desert Location
  •         Gated Boutique Venezia Community
  •         2,952 Sq Ft, 4* Bedrooms, 4 Bathrooms
  •         Detached Casita With En-suite Bathroom
  •         Large Solar Heated Pool, Spa, Waterfall, Misting System, Commercial Patio Heater & Built-In BBQ
  •         Private Front Courtyard With Fireplace
  •         Gourmet Kitchen With Slab Granite Counter Tops & Upgraded Appliances
  •         French Travertine Diagonally Laid Tile Floors In Main Living Areas

MLS# 219007363 | Listed at $775,000 | For more details, photos & a 3D Virtual Tour, please visit:  https://www.41688ViaAregio.com

Mobile Users: For the 3D Virtual Tour: http://bit.ly/41688viaaregiovirtualtour

For A Virtual Reality (VR) Tour: http://bit.ly/41688viaaregiovr

CalDRE# 01898254 | 01896117 | 02043759
Posted in Our Listings
May 11, 2019

Open House: Remodeled Desert Falls CC Golf Course Condo - Sat May 11

Open House: Renovated Desert Falls Country Club Golf Course Condo | 348 Vista Royale, Palm Desert, CA | Sat May 11th - 10am - Noon

Renovated Desert Falls Country Club condo, with stunning golf course and mountain views. This large 3 bedroom, 3 bathroom condo has been updated with plantation shutters throughout, newer carpet in the bedrooms, newer kitchen cabinets, granite counters, recessed lighting and stainless steel appliances. Two of the three bedrooms feature ensuite bathrooms and walk-in closets; making this the perfect unit for 2 couples. Large front porch features stunning San Jacinto mountain views. Large rear balcony overlooks Desert Falls Country Club’s 15th green and 16th fairway with beautiful Chocolate Mountain views. Two car garage with room for driveway parking. Desert Falls Country Club, a community of roughly 1,100 condos, villas and single family detached residences, offers its residents and guests 34 pools and spas, 9 tennis courts, a state of the art fitness center, a large modern clubhouse with bar, indoor and outdoor dining areas and a semi-private 18 hole championship golf course. It is located in central Palm Desert close to El Paseo, Westfield Mall, McCallum Theater, Agua Caliente Casino, Resort & Spa, The River, Palm Desert’s Desert Willow Golf Course and the JW Marriott Desert Springs Resort & Spa.

MLS# 218029036 | Listed at $299,000 | For more information, photos & 3D Virtual Tour, please visit: http://www.348VistaRoyaleDr.com

CalDRE# 01898254 | 01896117 | 02043759
Posted in Our Listings
May 10, 2019

Open House: Roomy Palm Desert Family Pool Home | Sat May 11th

Open House: Roomy Palm Desert Family Pool Home | Sat May 11th from 10AM to Noon | 39523 Newcastle Dr, Palm Desert (Regency Estates)

Beautiful roomy family home located in the gated Regency Estates community in north central Palm Desert. This 3,630 square feet, 4 bedroom, 4 bathroom home sits on a large (12,197 sq ft) lot and features an open floor plan, renovated kitchen with newer cabinets, granite counter tops and stainless steel appliances, renovated bathrooms with newer cabinets, fixtures and tub/showers, newer tile floors in the main living areas, newer wood laminate floor in the ground floor master bedroom, newer carpet in the 3 upstairs bedrooms (2 sharing a balcony that overlooks the rear yard pool and spa), a 3 car attached garage, a resort-like private west facing rear yard with large covered patio and oversize pool and spa and much more. Regency Estates was developed and built by well know local developer Peter Solomon and consists of 92 one and two-story single family detached homes on large spacious lots. The community offers sidewalks, street lights, a park and tennis courts. It is ideally located in north central Palm Desert, close to Ronald Reagan Elementary School, Freedom Park, El Paseo, Westfield Mall, College of the Desert, McCallum Theater, Agua Caliente Casino Resort Spa, Desert Willow Golf Resort (with steeply discounted rates for Palm Desert residents), The Classic Club and many more local golf courses, shops, restaurants and other attractions. 

MLS# 218033332 | Listed at $589,000 | For more details & photos, please visit: http://www.39523NewcastleDr.com

MOBILE USERS: Please use this link to view the 3D Virtual Tour: http://bit.ly/virtualtour39523newcastledr

FOR VIRTUAL REALITY (VR) TOUR: http://bit.ly/vrtour39523newcastledr 

CalDRE# 01898254 | 01896117 | 02043759
Posted in Our Listings
May 10, 2019

New Price: Prime South Palm Desert Home Site

Rare Opportunity In South Palm Desert offering stunning views of Eisenhower Mountain and the San Jacinto and Santa Rosa mountains. At just under an acre (40,075 square feet), this is a great opportunity to own a premium, south facing rear yard, fenced lot and build your very own customized up-scale home in a wonderful location with beautiful mountain views! While the residence has suffered fire damage, the pool is already in and the sewer and utilities are hooked up. The current owner has a set of drawings, approved by the City of Palm Desert for a rebuild of the current home. Let your imagination become a reality and add your own flair and stamp to this property. 

 

MLS# 219010107 | New Price: $479,000 | For more details & photos, please visit: http://www.74655OldProspectorTrail.com

 

CalDRE# 01898254 | 01896117 | 02043759
Posted in Our Listings
May 8, 2019

April 2019 Coachella Valley Real Estate Market Update

(Please click on the image above to view our short YouTube video)

Local real estate market experts, Market Watch LLC, have just released their April 2019 Desert Housing Report. This is their measure of the pulse of the Coachella Valley residential real estate market. Some of the highlights:

Coachella Valley Median Detached Home Price: The Coachella Valley median detached home price increased for the second consecutive month in April to $425,000 (up 4.6% year-over-year). This is the highest median detached home price since the recovery began in 2011.

Coachella Valley Median Attached Home Price: The Coachella Valley median attached home price increased in April to $294,500 (up 7.3% year-over-year). This also is the highest median attached home price since the recovery began eight years ago. Based on past median attached home price history, Market Watch’s analysts predicted that this upward price trend would continue for a few more months before the usual seasonal retreat after May or June.

Twelve Month Change In City Median Prices: The median detached home price increased in all of the major Coachella Valley cities, with the exception of Palm Desert, where it declined by 5.9%. The increases in median detached home prices ranged from 19.5% in Indian Wells to 0.3% in Indio. The Palm Springs median detached home price is now 10% above the high prices of the 2006-2007 bubble years. Median detached home prices in all of the other major Coachella Valley cities continue to remain below the highs of the 2006-2007 bubble years (ranging from 25.4% short of the all-time high in Desert Hot Springs to 8.3% short of the all-time high in Indian Wells).

The median attached home price increased in all of the major Coachella Valley cities, with the exception of Desert Hot Springs (where median attached home prices declined by 0.7%), Indio (where median attached home prices declined by 2.5%) and Cathedral City (where median attached home prices were unchanged). The increases in median attached home prices ranged from 18.4% in Rancho Mirage to 1.6% in Palm Springs. The median attached home prices in all of the other major Coachella Valley cities continue to remain below the high attached home median prices of the 2006-2007 bubble years (ranging from 33.7% short of the all-time high in La Quinta to 23.2% short of the all-time high in Palm Desert).

Detached, Attached & Total Home Sales:  Total home sales for the last three months averaged 871 units per month (versus 952 units per month a year ago). While this is a decline of 8.5% year-over-year, Market Watch’s analysts pointed out that it is nevertheless an improvement over the last couple of months where total home sales were down over 10% year-over-year. Detached home sales for the last 3 months averaged 576 units per month (down 4.8% year-over-year), while attached home sales for the last 3 months averaged 295 units per month (down 15% year-over-year).

Home Sales By City: Every one of the Coachella Valley cities had lower average sales over the last three months year-over-year, with the exception of Palm Springs (with 182 average sales per month over the last three months versus 181 average monthly sales over the same period in 2018). Palm Desert experienced a 14% decline in average sales over the last three months year-over-year (from an average of 219 units a month in April 2018 to an average of 189 units per month in April 2019). The city of Coachella experienced an 18% decline in average sales over the last three months year-over-year.

Home Sales By Price Range: Market Watch’s analysts noted that the largest drop in home sales are for homes priced under $400,000. They felt that this was due to the dwindling supply of homes in this price range in the Coachella Valley, as Coachella Valley home prices rise. The largest decline in average home sales over the last 3 months occurred in the $200,000 to $300,000 price bracket, where average home sales fell from 236 units a month to 193 units per month year-over-year. Average sales of homes priced over $900,000 over the last three months were slightly higher.

Coachella Valley Housing Inventory: Housing inventory on May 1st stood at 3,643 units (21 units more than on May 1st, 2018). Based on past housing inventory history, Market Watch’s analysts noted that housing inventory usually bottoms out on September 1st , then rises for five or six months before reaching a peak in February or March. They further noted that inventory in any month can only be compared to inventory in that same month in other years and that the current May 1st housing inventory is near all-time lows.

Days On The Market & Months Of Supply: On May 1st, the months of sales ratio (inventory divided by the average 12-month sales) was 4.5 months. Market Watch noted that while this months of supply ratio was 2/10 of a month higher than a year ago, it is a historically low ratio, indicating that the balance of supply and demand is still slightly in favor of the sellers. Days on the market in April was 66 days (up 2 days year-over-year).

Months Of Supply By Price Range: Market Watch’s analysts noted that for homes priced under $800,000 the months of sales ratio was fairly comparable to the months of sales ratios one year ago. For homes priced between $800,000 and $900,000, Market Watch’s analysts noted the drop in the months of sales ratio from 10.2 months to 7.9 months. For homes priced over one million dollars, they noted the decline in the months of supply ratio from 15.5 months to 13.4 months.

Months of Sales By City: Eight Coachella Valley cities had slightly higher months of supply ratios year-over-year, while the cities of Coachella, Palm Springs and Thousand Palms had lower ratios. Market Watch’s analysts singled out Palm Springs, stating that even though home prices throughout the city increased significantly over the last five years, inventory levels and months of sale ratios remained very well contained, an indicator that even at this high price level, the housing market in the city of Palm Springs appears to be very stable.

Sale Price Discount from List: The latest Sale Price Discount from List was -2.3% (0.1% less than a year ago). This ratio means that the average Coachella Valley home listed for $400,000 sold for $390,800 (a $9,200 discount in sales price from list price).

CalDRE# 01898254 | 01896117 | 02043759
Posted in Market Updates