February 2009 Multi-Family Report

City Type # of Properties Indio REO 2 Cathedral City REO 1 Cathedral City Short Sale 1 Cathedral City Regular Sale 1 Desert Hot Springs REO 6

Only two of the above properties were built after 2001. The majority of the properties were built prior to 1990. Most of the properties, especially in Desert Hot Springs are boarded up, need serious repair and would be management intensive.

Most of the above properties are selling for 55 to 70% LESS than they sold for three to four years ago, especially in Desert Hot Springs.

Income property is back to being “income property”. Investors are unwilling to purchase a property for anticipated speculation profits.

There are some fabulous buys in Cathedral City. Cathedral City is a great rental area, close to the Freeway, has a larger tenant radius than most cities. There are also some fixer properties available that can be purchased at an even further discount. Contact me if you would like addresses and further info.

Michael Woodward

Michael is the founder and CEO of jumbleThink.  He is also the CEO of Woodward Design Group.  He and his team have built over 400 website for small businesses to large customer portals for Fortune  100 corporations.  He has also consulted with hundreds of businesses through the Small Business Development Council in Butte County,  Ca (http://www.buttecollegesbdc.com) along with teaching courses on web design / development and marketing strategies.  His passion is to help individuals and businesses make their dreams attainable through creative thinking / idea formation and strategy.