Here we are already! Tax Time! April 15th (or April 17th this year), is an important time for most of us. Getting our income taxes done is on everyone's mind. Hopefully, you have had your tax returns prepared and filed. Although we all hate to write that check, it is a small price to pay for living in this country, giving us the opportunity to work hard and prosper.

The Real Estate Market in the Coachella Valley continues to search for stabilization. The lower priced homes are still, and probably will continue to be, the most impacted. This market has lost the investors and the speculators as Buyers and there was a large increase in homes being built to satisfy the past demand, creating a double whammy: Too many homes for sale and not enough Buyers.

The high-end and luxury home market has remained stronger, but the inventory of homes for sale has also increased, giving the Buyers more to choose from.

The high-end Buyers are more cautious and looking for just the right home at the right price. But, if they find it, they are willing to make the purchase.

Personally, my business has been very busy over the past 30 days, with over $16 million in sales. The properties that sold were in Rancho Mirage, La Quinta and Indio, and all were priced from $1,895,000 to $4,450,000.

It looks to me that this will be an extended season this year, with sales activity continuing longer than usual. Most of the Realtors that I talk with agree that there are plenty of people looking to buy, but they haven't made the purchase. This should result in more homes being sold in late May and June than normal.

This month I have included the following articles:

If you have any questions regarding our local real estate market, please feel free to give me a call. Thank you for your continued support.

Best Regards,
Bruce