Jeannie Niles Real Estate Investment
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Understanding Foreclosure Numbers!!!
Foreclosures increased 1800% in La Quinta, 1200% in Indio and 1480% in Desert Hot Springs from the second quarter of 2006 to the second quarter of 2007.
In today’s uncertain times, Be sure you understand the math when a percentage is quoted. Home Foreclosures Up in the Valley
The headlines above would make you think the entire city is in foreclosure. The reason the numbers are so high is because in 2006 there were very few foreclosures. A very low base creates a huge percentage increase.
Actual Numbers
| 2nd Quarter 2006 | 2nd Quarter 2007 | Estimated Population | |
|---|---|---|---|
| La Quinta | 3 | 55 | 42,000 |
| Indio | 5 | 65 | 77,000 |
| Desert Hot Springs | 5 | 74 | 23,000 |
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Seven properties went into escrow in October.
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For Coachella Valley
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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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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
