Jeannie Niles Real Estate Investment
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Huge Decline in Multi-Family Property Values
Huge Decline in Multi-Family Property Values: Palm Springs, Cathedral City, Desert Hot Springs, Palm Desert, Indio aka The Coachella Valley
Since February 1, 2008 38 new listings in the Coachella Valley, from Indio to Palm Springs and including Desert Hot Springs.
No Sales.
Properties are listing for about 60% of their value in 2005.
Who has any equity left with this amount of decrease in value?
Cap rates need to get back to 6 or 7% for any activity to be generated.
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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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Palm Springs, Cathedral City, Desert Hot Springs, Palm Desert, Indio aka The Coachella Valley
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I have discovered I like hearing from my agent, even if it just to say hello.
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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
