As we head into 2008, I want to take a moment and wish you all a Happy, Healthy & Prosperous New Year! Even though we are 2 weeks into 2008, there is still plenty of time to stop and reflect on all of the good things in your life, and to celebrate your family and friends.

With the opening round of The Bob Hope Classic, and the weather being outstanding, the seasonal real estate market should be ready to shift into high gear. The national exposure the Palm Springs desert area receives this week will be tremendous.

Looking back at 2007, the real estate market was very mixed. The market under about $800,000 was heavily impacted by the first wave of foreclosures and increased inventory. The high-end and luxury market was not impacted by foreclosures, but we did see an increase in inventory, a reduction in the number of sales and a wait-and-see attitude by the Buyers.

Included this month are several articles you might find interesting:

•	Suzanne Somers lists her Palm Springs Shangri-La for $35 Million. This is a family compound on 65-acres in the Mesa Area of Palm Springs.
•	The Countrywide and Bank of Amercia Deal.
•	Bruce Blomgren featured as one of 25 Top Producing Agents from around the world in a new book, The World of Luxury Real Estate.
•	The 10 Most Expensive Desert Homes Sold in 2007, according to the Desert Area MLS. These homes all sold for more than $5 million. 4 were at The Vintage Club, 3 were at Bighorn Golf Club and The Hideaway, Mirada Estates and Thunderbird Heights each made the list.
•	Mortgage Interest rates as of 1/15/08
•	Residence International Magazine Winter Edition.

I am looking forward to another exciting year for the Desert Real Estate Market. My email list has been growing steadily for the email newsletter. If you have any friends who might enjoy receiving it, just have them get me their email address.

If you have any real estate related questions or comments, please give me a call at (760) 779-1653 or email me at bruce@bruceblomgren.com.

Thanks Again,
Bruce