Sun city Palm Desert Stats as of 2/24/09

There are 208 active listings from $212,0000 for a California Casual to $$1,025,000 for a Marseille on the Golf Course
Since Jan 1, 2009 there have been 7 pending sales from $249,000 for an Orrefors to $749,00 for a Marseille.
There have been 8 sold properties from $204,000 for a Villa ti $652,000 for a Monaco on the Golf Course.

Hopefully, the stimulous will help the housing market.


Elaine Leib CRS,SRES
Windermere Real Estate
760-285-7676

This week's stats in 92211

This week the median price in 92211 was $334,000. The inventory is up and Market Action is trending down recently. While days on the market appears trending lower, the overall conditions are weakening a bit.

In this zip code this week saw relatively little price change from last week. However, we continue to demonstrate a nice up trend in general .

Local conditions are currently quite strongly in the Buyer's Market .

As an aside, a friend started the process of refinancing and their lender told them they were lucky because SCPD is in a stable market.

Sun City Stats for December

There are 187 active listings from $215,000 for a Villa to $1,025,000 for a Marseille on a double golf course lot.

There were 2 pending sales last month--one an Opal @ $249,000--1548 sq. ft. and $369,900 for a Cayman at 1632 sq. ft.

There were 9 closed escrows ( probably sold before the financial debacle) from $205,000 for a Hummel (not a short sale or an REO) 1128 sq. ft--sold ro $205,000 to $440,000 for an expanded Monaco-2323 sq. ft.

Interesting

President -elect Barack Obama recently named New York City housing commissioner Shaun Donovan to lead the U.S. Department of Housing and Urban Development. What you may not know is that Donovan once worked at Prudential . Before he joined New York's Housing Preservation and Development Department in 2004. Donovan was the managing director of Federal Housing Authority and affordable housing investments for Prudential Mortgage Capital Co.

Fed lowers rate

Fed has lowered rates lower than ever before and promises to do more to help the economy.

Did you know?

TV's , computers and other electronics account for 15% or $352,50 of an average household's annual energy bill? The energy consumed by idle devices --ones that are plugged in but are not being used--accounts for about $264. Best: Get a power strip so that multiple electronics can be plugged into one. strip that can be easily unplugged. Or, unplug each appliance each day when not being used-toasters, can openers, mobile chargers, etc.

The Bottom?

On Dec. 15, the Desert Sun said the economists thought we had hit bottom. What do you think?