Jeannie Niles Real Estate Investment
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Indian Creek Villas Palm Desert, CA
I chart various statistics and what is happening in the current real estate market…and the market is improving. I think once the positive news starts hitting the mainstream media, the improvement in the market will accelerate.
Indian Creek Villas is a 300+ condominium project in South Palm Desert…one mile from the shopping area of El Paseo….”the Desert’s Rodeo Drive”….
Indian Creek is a basic, no frills, bottom line project that is very well maintained by the Homeowner Association and enjoys home owners, second homes and investors that rent their properties to quality tenants.
In 2005, a unit could be purchased for $210,000. In October 2007, a unit sold for $155,000. In early February 2008, we started seeing properties selling in the 115,000 range very quickly with multiple offers.
This trend has continued with the number of sales increasing in the development. These are great investments that are very solid. Rental income will be $850 to $925.00 per month.
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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
