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Friday, November 16, 2018

Valued Friends and Clients!

November in the Coachella Valley is always a wonderful time of year! Temperatures have been in the 70's & 80's, with nice cool evenings. We are enjoying mostly clear blue skies & sunny days, and the golf courses have all recently re-opened! These are just some of the many reasons we all enjoy being here during the seasonal months. It is nice to talk with the returning winter residents who really appreciate the desert's climate.

Heading into the seasonal real estate market, there is some concern regarding the slow-down we are hearing about in some of the other markets where our buyers tend to come from. The Newport Beach, Los Angeles, Seattle and Portland markets have all cooled off somewhat, and they are seeing price reductions and longer times on the market. Multiple offers on homes are not nearly as common as they were a year ago.

Over the 35 years I have been selling homes in the desert, our market has usually trailed the Southern California market tends by 12-18 months. So, this season may not be impacted too much, we will have to wait & see.

Luxury home sales here in the desert during October are just off slightly from last year. There were 36 homes across the valley that closed escrow above $1 Million in October, compared to 38 last year. And, there are 61 homes 'Under Contract' priced above $1 Million, compared with 76 at this time last year.

Keith & I just attended the annual 'Fall Market Watch Seminar', which focused on the Coachella Valley residential real estate market. The take away is that there is another good year ahead for home sales across all price ranges, the inventory of homes for sale is down & median home prices continue to trend upwards. The October Desert Housing Report is attached below.

This month we have attached the following items you might find interesting:

  • Blomgren & Blomgren's Featured Home of the Month: 73912 Desert Garden Trail, at The Reserve Club in Indian Wells. This 5100 square foot contemporary villa offers beautiful golf course and mountain views. View this home...
  • The Desert Housing Report for October 2018. This information is compiled by Market Watch and shows median home price trends, sales of all price ranges, sales by city and listing inventory. Plus much more. Read the report...
  • This article from The Robb Report discusses 'Agrihoods' across the world. These are neighborhoods that incorporate growing food crops. Some of these gardens are replacing fairways. Read the article...
  • From Mansion Global, this article talks about the slow down in luxury home sales in Los Angeles, falling by 26% year-over-year in September. Read the article...
  • On the Real Estate Marketing side, here is an interesting article: "4 Things NOT to do When Putting Your Home on the Market" Read the article...
  • The 10 Most Expensive Homes Sold in October, 2018, as reported by the California Desert Area MLS. These sales range from$1,625,000 for a Terrace Home at The Vintage Club, to $4,500,000 for an 8720 square foot home at The Tradition. La Quinta dominated this months list, with 8 out of 10 homes! See the complete list...

With Thanksgiving coming soon, this is a great time to Give Thanks for everything we have and for everyone we love. We hope you have a wonderful Thanksgiving!

Sincerely,

Bruce (760) 333-7653
Keith (760) 333-3350

Blomgren & Blomgren
Luxury Desert Real Estate

 
 
 
 
 
 
 
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Featured Home of the Month
 
 
73912 Desert Garden Trail
The Reserve
Indian Wells
Offered at: $2,099,000 Furnished
 

Panoramic Mountain Views at The Reserve! This immaculate Ministrelli built Desert Villa is situated on a private lot with spectacular golf course and mountain views! This premier property is 5,082 square feet, with 4 Bedrooms, 4.5 Bathrooms, including a super casita, and a 20,473 square foot lot. As you enter the tranquil courtyard, you'll notice the cactus garden and stately oversized front doors. The interior offers an open floor plan, high ceilings, custom built-ins, travertine flooring, granite countertops, and large sliding glass doors leading to the outdoor living area. There's also a spacious casita where your guests will enjoy a luxurious living room, kitchenette, and bedroom suite with fireplace. The tranquil outdoor living area has room to relax around the private pool and spa while overlooking the 5th fairway and surrounding mountains. This home is offered nicely furnished. The Reserve is a private club with world class amenities.

Please call for a private showing: (760) 779-1653,

 
 
 
 
 
 
Featured Articles
 
 
 

The Desert Housing Report for October 2018

Market Watch, LLC, 2018

The Desert Housing Report for October 2018. This information is compiled by Market Watch and shows median home price trends, sales of all price ranges, sales by city and listing inventory. Plus much more.

 
 
 

Neighborhood Farming Is Harvesting Luxury

Alexandria Abramian - Robb Report, October 26, 2018


This article from The Robb Report discusses 'Agrihoods' across the world. These are neighborhoods that incorporate growing food crops. Some of these gardens are replacing fairways.

 
 
 

Luxury Home Sales Slowing in Los Angeles

Willa Rubin - Mansion Global, November 2, 2018


From Mansion Global, this article talks about the slow down in luxury home sales in Los Angeles, falling by 26% year-over-year in September.

 
 
 

4 Things NOT to Do When Putting Your Home on the Market

Zoe Eisenberg - RISMedia


On the Real Estate Marketing side, here is an interesting article: "4 Things NOT to do When Putting Your Home on the Market"

 
 
 

The 10 Most Expensive Homes Sold in October 2018 as reported by the California Desert Area MLS:

California Desert MLS


The 10 Most Expensive Homes Sold in October, 2018, as reported by the California Desert Area MLS. These sales range from$1,625,000 for a Terrace Home at The Vintage Club, to $4,500,000 for an 8720 square foot home at The Tradition. La Quinta dominated this months list, with 8 out of 10 homes!

 
 
 
 
New Listings
 
73912 Desert Garden Trail The Reserve, IW $2,099,000F
20 Via Condotti Veneto, RM $1,195,000 Too new for Photos
74383 Desert Tenaja The Reserve, IW $1,395,000 F Too new for Photos
75678 Vista del Rey Desert Horizons, IW $528,000
 
 
Recent Sales
 
16 Sapphire Lane Revelle at Clancy Ln, RM $1,250,000 New Construction
50674 Desert Arroyo (Lot) The Reserve, IW $750,000
512 Red Arrow Trail Indian Ridge, PD $515,000
72570 Theodora The Summit, PD $875,000
 
 
 
 
Bruce (760) 779-1653    Keith (760) 333-3350