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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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
