Jeannie Niles Real Estate Investment
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Palm Springs Area Updates: 2007
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December 02, 2007
The statistics for multi-family reflect a HUGE improvement, however the actual numbers are so small a few sales change the percentages dramatically.
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November 03, 2007
New listings continued to increase, however were offset by an increase in pendings. While all of the desert remains slow, again I repeat the Multi-Family Market is the one with the most problems.
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October 10, 2007
New listings increased 79% from August to September for Single Family Homes and 43% for condos!!!
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September 04, 2007
Inventory decreased very slightly in both single family homes and condos, while multi-family added seven properties to total available.
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August 13, 2007
The multi-family market will continue to do poorly until sellers/brokers realize that a property has to be priced to reflect the current market.
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July 07, 2007
Inventory decreased in all categories at around 10% from May 2007.
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June 01, 2007
Recently an accurately priced apartment building came on the market with solid financial information. It sold in 35 days with multiple offers.
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May 04, 2007
Inventory continues to increase, thus further shifting to a buyers market. For every multi-family property going into escrow in March, 7.4 new properties came on the market.
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April 28, 2007
Only 2% of available multi-family properties in the Palm Springs area went into escrow in March of 2007. For every property placed in escrow, 7.4 new Listings came on the market in March 2007.
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April 02, 2007
All categories had slightly increased inventory this month, further enhancing a buyer's market.
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March 22, 2007
If your property is on the market and you do not receive an offer in 90 days, something is wrong.
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March 10, 2007
While commercial vacancy rates in the area are between 20 - 30%, the rates for residential properties between 5% and 7%.
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March 09, 2007
There are 515 acres in the downtown area and the city hopes to renovate the Village.
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Inventory increased, sales declined and new listings increased in all types of property this month. I expected this because of all the bad news in the credit markets, government bailouts, declining stock market.
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Inventory increased by 600 properties; however sales increased by 54%!!!!
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Total available properties decreased again this month 9 percent when compared with July.
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Total available properties decreased again!!!
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The trend has continued to improve, not by a huge amount but this is the summer months, the temperature is well over 100 degrees and property sales are only slightly less than May of this year.
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
