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Wednesday, March 16, 2008


Valued Friends & Clients,

The desert area real estate market activity continues to search for positive indications that the bottom may be near. While certain segments of the high end market are strong, and a few Realtors are more active than others, overall the desert market remains soft.

The lower end market has strongly picked up, due to the high volume of foreclosures, bank owned properties and short sales. Prices have dropped significantly, and Buyers are now more able to afford this entry level housing market.

Now that we are in mid-April, this season is just about over. With the end of May traditionally the very end of the season, I am hoping to see an increase of Buyer activity in May and June this year. These Buyers will be looking for the best deals before the start of summer. July and August are normally so hot, that there is usually little sales activity in the higher price ranges.

One thing is becoming clear: The next several months should be a great time to buy a home in the desert! After the election is over, and with some help from the economy, next season could be a much stronger market for real estate in our area. In the long run, the desert area will continue to gain in popularity and the demand for 2nd and 3rd homes here will only increase.

Included this month are several items you might find interesting:

•

Sales at Bighorn Golf Club continue to be brisk, especially at the very high-end, as reported by The Desert Sun.
• An interesting article discussing the time tested idea of ‘Buying when no one else is buying’ from Time Magazine.
• As you are aware, Dyson & Dyson is part of the Sotheby’s International Realty network. We have opened our first office in Japan. With world-wide connections, I can help you with real estate needs across the globe.
• A unique home in Montecito was recently featured as The Home of the Week in the LA Times.
• The 10 Most Expensive Desert Homes sold in March 2008, according to the Desert Area MLS: Bighorn leads the list with the 3 most expensive homes sold; a home on 2-acres on Clancy Lane sold; homes at Tradition Golf Club, The Vintage Club and Andalusia made the list, as did 3 homes at PGA West.
• Mortgage Interest Rates as of 4/15/08

If you have any real estate related needs or questions, please don’t hesitate to give me a call or email at bruce@bruceblomgren.com. I would love to talk with you. And, if you know of anyone else who might enjoy receiving my monthly e-newsletter, please let me know.

Sincerely,
Bruce
Luxury Home Market Big Business
The Desert Sun

Bighorn Properties had more than $127 million in sales so far this year, topping first-quarter sales in each of the past two years. Most of the 28 homes that sold were priced at or over $5 million, though properties at the Palm Desert golf course start around $2 million...
Right on Your Money - Ignore The Headlines
TIME Magazine

Famed Money Manager is perhaps best known for his timeless wisdom that you can beat the pros by focusing on stocks of companies where you either work or shop or have some other edge. But a more relevant Lynchism today is this gem: Ignore the headlines...
Sotheby's Network Opens First Japan Office
Sotheby's International Realty

Sotheby's International Realty Affiliates LLC today announced the opening of Japan Sotheby's International Realty, its first office in that country. The office is owned by Urban Corporation, a growing, integrated real estate company. In July 2007, the Sotheby's International Realty brand announced the signing of an exclusive 25-year licensing agreement for Japan with the company...
In Montecito, A Grand Spot to Soak Up the View
LA Times

A converted water tower adds distinction to an elegant,
historic Monterey Colonial home built in the '30s. THIS richly elegant estate is a standout among Montecito's historic homes. The Monterey Colonial was built in the early 1930s by David Gray Jr., part of a philanthropic family that bestowed much upon the Santa Barbara area...
Bruce Blomgren Featured in the Book
The BrandPromise® by Duane E. Knapp
The BrandPromise® Book

McGraw-Hill has announced the global launch of Duane Knapp’s newest book; The BrandPromise® which outlines how genuine brands make a promise that guarantees success. “A brand’s promise is the new currency for success,” says Mary Glenn; Editorial Director of Business Books at McGraw-Hill Professional...
10 Most Expensive Desert Homes Sold in March 2008
Desert Area MLS

Check out this article and see the 10 most expensive homes sold in March 2008 in the desert, according to the California Desert Association of Realtors...
Mortgage Interest Rates as of April 15, 2008
Franklin Loan Center

The following is a breakdown of home mortgage rates as of April 15, 2008. These rates are for several of the most preferred loan programs from one of Bruce's preferred lenders...
79400 Stonegate The Estancias $2,225,000
2 Seclude Court Seclude, RM $2,100,000
44840 Winged Foot Desert Horizons CC $1,400,000
75330 14th Green Drive Desert Horizons CC $795,000
48750 Vista Estrella Rancho La Quinta CC $2,295,000
75599 Camino de Paco Desert Horizons CC $1,895,000
1743 Pinnacle Point Pinnacle Point, PS $1,630,000
75395 St. Andrews Court Desert Horizons CC $749,000
78342 Talking Rock Turn
Tradition Golf Club, La Quinta 		Priced at:
$2,795,000
An incredible opportunity! This home has recently been re-done and is just like new. Situated on a large, .6-acre, elevated lot with dramatic views and lots of privacy! The northwest exposure has wonderful mountain views from above the 7th & 8th Fairways & lakes... Click for more information




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"Now that the dust has settled and we've moved from our property at The Reserve, we want to take a few moments to express our thanks to Bruce and the Blomgren Team for once again handling the sale of one of our properties. As usual, Bruce kept us informed and guided us through the many facets involved. Since we were out of the area much of the time, it was comforting to know that he was on top of the showings, marketing, and, finally, the negotiation and sale.

Bruce has now represented us in four real estate transactions. This alone speaks to the fact that we truly value his knowledge and expertise. Needless to say, we also value his friendship.

Please accept this as our hearty recommendation for Bruce, and the fine team he has assembled.”

Aycee & Brian McGuire
Spokane, Washington
The Reserve, Indian Wells