Jeannie Niles Real Estate Investment
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Indian Wells, California Foreclosures and Inventory March 26, 2009
Indian Wells is often referred to as “the Beverly Hills of the Desert”.
Indian Wells world famous tennis garden is the annual host to the BNPParibas Open 2009
There are very few rental units in this city.
| Foreclosures | NOD’s * | Inventory ** Single Family |
Condos | |
|---|---|---|---|---|
| Zip Code 92210 |
10 | 10 | 241 | 100 |
Indian Wells is the only city in the desert that had increased inventory over last year. This compares with the trend that lower priced homes are selling more quickly than high end homes in excess of $700,000. Indian Wells consists primary of luxury homes.
The observations represented are my opinions only, based on experience and working in the desert area for many years.
Foreclosure stats have been obtained from www.foreclosure.com. Inventory stats are from the Desert Area MLS.
* Notice of Default filed.
** Inventory is defined as properties currently listed for sale in the local multiple listing service. A large number of these properties are foreclosure properties, also known as Bank REO.
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Income property has once again become “Income property”.
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There are many small income properties available in the area. Prices here have declined over 50% since the peak of the market late 2005/early 2007.
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It’s possible to obtain some great apartment financing. 25% down payment and interest rates at 6% or slightly below.
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Cap Rate is an investment tool for analysis that enables an investor to compare one investment to another.
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Cap Rate is the best tool for determining the value of an income property.
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Some of the most outrageous episodes in property ownership that the owners lived to tell about.
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Only 5% sales agents or brokers actually own investment property, and only 10% actually sell a property.
Every investor's situation is unique, and I have over 25 years experience solving problems. Use the form below to ask me about your unique needs.
Jeannie Niles Real Estate Investment
P.O. Box 317
Palm Desert, CA 92261
P: (760) 360-4020
F: (760) 340-9069
E: jniles@realestate-investment.com
