Jeannie Niles Real Estate Investment
 |
Indian Creek Villas Palm Desert, CA November '09 UPDATE
Indian Creek Villas
Palm Desert, CA
Update November 2009
As an indication of the strength of the real estate market: six months ago there were very few sales and over 10 properties on the market.
Currently there are three properties on the market priced at 72,500, 103,000 and 109,900. The 72,500 and 103,000 properties are shortsales with the $109,900 property being a regular seller.
Four properties are currently in escrow and there have been 10 closed escrows since 9/1/09.
Sale prices have been a low of $65,000 to a high of 98,900 for a unit that had been totally refurbished. Majority of sales prices are high sixty’s to low 70’s.
Unit 1’s are the front unit, all on one floor and seem to be the most popular model since it’s similar to “a little house”.
-
Income property has once again become “Income property”.
-
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.
-
It’s possible to obtain some great apartment financing. 25% down payment and interest rates at 6% or slightly below.
-
Cap Rate is an investment tool for analysis that enables an investor to compare one investment to another.
-
Cap Rate is the best tool for determining the value of an income property.
-
Some of the most outrageous episodes in property ownership that the owners lived to tell about.
-
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
