Fall has arrived in the desert and with it the end of triple digit temperatures! At mid-October, we are experiencing the over seeding process of virtually all the golf courses and lawns in the valley. This is a very dusty period that lasts several weeks, as the Bermuda grass is scalped (cut extremely low) and the water is turned off. This forces the Bermuda to go dormant. Rye seed is spread, which germinates when the water is turned back on. For a golf course, this process takes about 6-weeks, allowing the course to open for play with emerald green fairways and near perfect greens. Most courses try to schedule the opening for the first weekend in November.

This has everything to do with why our season starts in November. The winter residents have no reason to return earlier, even though the weather is great, especially if you have allergy/hay fever issues. So, the winter population starts returning in the 1st week of November and the season is under way.

I am always happy to see November arrive, because it is almost like spring to us in the desert. The fresh, green grass and plenty of colorful flowers create a wonderful change from the summer months. And, it usually is a much more optimistic time for everyone.

The real estate sales activity has not shown much improvement. The average sales prices have increased slightly, mostly due to a temporary slow down in bank owned homes coming on the market. There are now just under 5,000 homes listed in the MLS, which is only a 7 month supply.

But there are 750 homes listed above $1 million, which is more than 3 years of inventory, based on the sales over the past 12 months. Even so, about 250 homes will sell for above $1 million during the next year, offering a great opportunity to both Sellers and Buyers. With current prices the lowest we have seen in 5 years, many serious sellers and interest rates at historic lows, this is a great time to be a buyer.

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

•	'Indian Wells Tennis Garden' On a warm Saturday evening, Vickie & I attended the 2nd ever outdoor, professional basketball game at the Indian Wells Tennis Garden, as guests of Steve & Midge Pfrenzinger. Televised live on TNT, this was more great exposure for the desert area.
•	'Recovery Begins in the Home' This article from Forbes.com is actually a discussion on why the recovery in the real estate market has been ignored, while the media focuses on other economic problems.
•	'Zillow gets Windermere Feed' Inman News reports that Windermere Real Estate is now feeding all listings to Zillow.com. More internet exposure for my listings!
•	'Where are the Luxury Buyers?' Another Inman News article about how the luxury home market is slow on both coasts, just as it is here.
•	'Bank Owned Homes For Sale Above $1 Million in the Desert MLS' Only 5 this month: 2 in Palm Springs, 1 in Indian Wells, 1 each at Tradition & The Hideaway in La Quinta.
•	'The 10 Most Expensive Homes Sold in the Desert in September 2009’ According to the Desert Area MLS, these 10 homes ranged in price from a $1,205,000 home in Palm Springs to a $2,650,000 home at Tradition Golf Club in La Quinta. The others were at: Bighorn Golf Club, Mountain View CC, Rancho la Quinta CC, Toscana CC, Indian Ridge CC and 3 bank-owned custom homes in Rancho Mirage.
•	Mortgage rates as of 10/15/09

I hope you find this information informative and helpful. Please contact me with any input or questions you might have, 760.779.1653 or send an email to Bruce@BruceBlomgren.com.

Sincerely,
Bruce