Jeannie Niles Real Estate Investment
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La Quinta, California Foreclosures and Inventory April 13, 2008
La Quinta has enjoyed one of the highest areas of growth and new construction of all cities in the Coachella Valley. Old Town La Quinta is a great place to visit and has some amazing restaurants.
| Foreclosures | NOD’s * | Inventory ** Single Family |
Condos | |
|---|---|---|---|---|
| Zip Code 92253 |
129 | 329 | 1096 | 217 |
Most likely a large number of available inventory are properties that have been taken back by the banks via a foreclosure action. Most lender owned properties do not permit their listing broker to annotate in the MLS that it is REO.
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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Multi-family properties have been the hardest hit segment in the desert area for number of sales during the current real estate downturn.
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I am always frustrated how the media and other trade groups use statistical data to prove the point they want to make, thus I like to do my own statistical research.
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It can be very profitable purchasing bank owned properties in the current real estate market.
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Palm Springs, Cathedral City, Desert Hot Springs, Palm Desert, Indio aka The Coachella Valley
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I have discovered I like hearing from my agent, even if it just to say hello.
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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
