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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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
