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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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
