The middle of June finds the Desert Real Estate already in ‘summer mode’. Temperatures are above normal for June, showing activity has slowed down dramatically and some sellers are taking their property off the market for the summer, to try again in the fall. This is very common for those Sellers who don’t want their property to be on the market during the slow, hot summer months.

There was a good level of activity during the month of May. There were many offers written and about half of them were negotiated to a sale. The properties that sold are those that were both extremely attractive and fairly priced, or those that were really ‘priced to sell’.

As we continue into summer, I expect to see some sales activity, but not compared to the winter months. I figure that if Buyers are looking at homes when it is 110 degrees, they are probably serious! And, we treat them that way. It will probably be after the election in November before we will be able to anticipate how 2009 will be for Coachella Valley Real Estate.

I will be using the summer months to expand my Broker Referral contacts in those areas where many of our winter residents come from. Western Canada is high on that list, as the economy is still strong there, and many Canadians would like to take advantage of the favorable exchange rate they currently enjoy.

Remember that when no one else is buying is usually the best time to buy. The selection of homes is high, the sellers are negotiable and interest rates are still very low. The desert real estate market will be in demand for many years to come.

This month I have included the following items you might find interesting:

•	The Desert Sun ran a Press Release on 3 new homes under construction in Rancho Mirage that are the 1st homes in California to use environmentally friendly ACC materials.
•	We are all hearing about ‘Short Sales’ which ,  along with bank-owned foreclosures ,  are a large part of the sales being reported. Short sales are very difficult and many agents will advise their Buyers not to buy one. This LA Times article describes Short Sales.
•	The desert is a very popular spot for celebrities to have a second home, but they also buy in many other places. This Forbes.com article tells where.
•	Are you interested in what Cities are the Best for Home Sellers? According to Forbes.com, sales prices in these cities are holding up the best.
•	10 Most Expensive Desert Homes Sold in May 2008, according to the Desert Area MLS: 7 areas were represented on this exclusive list. Bighorn Golf Club had 3 homes listed, including the most expensive at over $10 million. Hideaway, The Tradition, Indian Wells CC, Mirada Estates, Indian Ridge and Old Las Palmas in Palm Springs all had a home on the list.
•	Mortgage Interest Rates as of 6/15/08

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