Palm Springs Real Estate

The Tradition: Championship Golf Courses And More

October 31, 2013 by · Leave a Comment 

When speaking of California, country clubs are truly not difficult to come by.  You will find luxurious residences, fine golf courses and tremendous communities to park camp and reside in.  But there is something about The Tradition that has turned this into one of the perennial places to live in the La Quinta area.

 View Listings in The Tradition

The TraditionThe Tradition has quickly become known as one of the finest estate and golfing residential communities for people to live in.  It has a spectacular location with magnificent views and gorgeous golf courses that make it all worthwhile.  And the mountain and desert views that are unmatched by anything nearby doesn’t hurt too much either.

The creator and designer of a golf course say a lot about the greens you will land on and the tees you will take off from.  Within this country club rests one of the finest golf courses in the area.  And it doesn’t hurt that it comes from one of the greatest PGA golfers to ever live; Mr. Arnold Palmer himself.

There is nothing short of legends that have been seen at the golf course nestled between the La Quinta cove.  This private golf club for members and guests sets in what used to be an old ranch.  And with that history brings a lot of quality that is lacking from many other courses nearby.

The 18-hole championship course was built to accommodate the skill levels of just about any and everyone that strikes the ball.  And the 9 hole par 3 even comes from the late, great Arnold Palmer who designed the hole himself.  You are guaranteed to walk away with a terrific round of golf beneath your belt.

And even if you don’t hit the round of your dreams, who can complain with the gorgeous mountains surrounding and the beautiful greens nearby?  The country club has a reputable brand and image that it has lived up to and far surpassed since first being built.  And everything is unique and personable.

No matter what your style, taste or flavor is, the Tradition Golf Club will suit your needs.  The golf is great, the homes are comfortable and the surroundings are majestic.  What more could you ask for in life?  There is no sense in waiting until later to take advantage of life and that dream opportunity is waiting for you within the fine country club of the Tradition in the La Quinta area.

 

What’s Ahead For Mortgage Rates This Week : September 24, 2012

October 4, 2012 by · Leave a Comment 

Existing Home Sales Mortgage markets improved for the second consecutive week last week as demand for U.S. mortgage-backed bonds remained high. A series of economic reports showed strength in housing and a stability in jobs.

Wall Street looked past it, however, to send mortgage rates to their lowest levels in history.

One week into the Federal Reserve’s newest bond-buying program, the stimulus appears to be working.

According to Freddie Mac, the average 30-year fixed rate mortgage rate slipped to 3.49% last week for borrowers willing to pay an accompanying 0.6 discount points at the time of closing. Discount points are a one-time closing costs where 1 discount point is equal to one percent of your loan size.

3.49% marks a new all-time low for the 30-year fixed rate mortgage. 

The 15-year fixed rate mortgage rate fell to a new all-time low last week, too, dropping to 2.77% with the same accompanying 0.6 discount points.

Mortgage rates in CA fell despite strong housing data.

  • Housing Starts rose 5.5% to a 2-year high
  • Existing Home Sales rose 7.8% to a 2-year high
  • Building Permits rose 0.2%

Notably, according to the National Association of REALTORS®, the national existing home supply slipped to 6.1 months last month — very close to the 6.0-month marker which separates a “buyer’s market” from a “seller’s market”.

If supplies continue lower, home prices may rise more quickly than expected into 2013. Median home sale prices are already 9.5% higher as compared to one year ago.

This week, more housing data is set for release including the home value-tracking Case-Shiller Index and FHFA Home Price Index. Both are expected to show rising home prices as compared to the last recorded month, and one year ago. In addition, the National Association of REALTORS® releases its Pending Home Sales Index.

Lastly, and likely most important to mortgage rates and home affordability in Palm Desert , the government releases its Personal Consumption Expenditures (PCE) report Friday. PCE is the Federal Reserve’s preferred inflation gauge. An unexpected increase is expected to move mortgage rates higher.

Existing Home Sales Leap To 2-Year High

October 3, 2012 by · Leave a Comment 

Existing Home Sales By Price Tier, August 2012

The home resale market put forth another strong data set last week. Home sales prices are higher nationwide and sales volume has moved to a 2-year high.

According to the National Association of REALTORS®, 4.82 million “existing homes” sold on a seasonally-adjusted, annualized basis in August, representing a near 8 percent improvement from the month prior and a nine percent jump from August 2011.

An existing home is a home which has been previously occupied.

Home sales were unevenly split across price tiers, with more than half of all homes selling for less than $250,000. This suggests that the first-time home buyers and real estate investors continue to be active in today’s market as a foundation for growth is built.

According to the Existing Home Sales data :

  • First-time buyers accounted for 31% of all home sales
  • Real estate investors accounted for 18% of all home sales
  • Other, repeat buyers accounted for 51% of all home sales

Also noteworthy is that “distressed homes” accounted for the smallest percentage of overall home sales since the real estate trade group starting tracking such data.

In August, homes in various stages of foreclosures accounted for 12% of all sales and sold at an average discount of 19 percent below market value. Short sale homes accounted for 10% of all sales and sold at an average discount of 13 percent below market value.

Of all the data in the August Existing Home Sales report, though, perhaps most relevant to today’s buyers is the shrinking national housing supply.

At August’s end, there were 2.47 million homes listed for sale nationwide, a three percent increase from the month prior. However, because the pool of available home buyers is increasing more rapidly than the number of homes for sale, housing supplies fell 0.3 months to 6.1 months.

This means that at the current pace of sales, the entire housing supply would be sold by March 2013.

For today’s home buyers, home affordability appears poised to worsen. Mortgage rates and home prices remain low today, but market conditions like these rarely last long. Talk to your real estate agent about what options you have ahead of you. 2012 is coming to a close.

By 2013, the housing recovery may be fully underway.

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Palm Springs Real Estate