Real estate figures indicate recovery

The median price range in Southern CA. has remained steady for 3 month while sales have been increasing, a real estate tracking firm said on Wednesday.

The Coachella Valley median sales price on single family homes has been holding at $180,000. Cities that helped keep the median at an even keel included Cathedral City, 92240 zip of Desert Hot Springs, the 92241 zip of Indio and the 92211 zip of Palm Desert

Choose your agent wisely. There is plenty of inventory

Weeding through the field of Realtors vying for the job of selling your home can be daunting. Sure, you can pick the one who id a "Neighborhood Specialist" if you believe benches, shopping carts and leaflets or the one with the best glamour shot, but you need to be more selective. Here is an agent checklist to help you select

I. Give a pop spelling test such as the name of your community or " refrigerator".
II. Test the writing skills. For example all homes are " upgraded" See if your agent can come up with synonyms.
III. Ask who is taking pictures. Suggest she have a professional take the pics.
IV. Do not hire the agent who gives you the highest price opinion
V. Ask for references-from clients who the agent has worked with , not necessarily those who closed escrow.
VI. Select the best agent first; negotiate fees second.

After the interview:

Google your agent and see what you find.
Check your agent's website and blog.
Does your agent have several ways to contact her.?
Go to an open house your agent is holding and observe his/her way of doing business Is she enthusiastic, professional and informed?
Be a secret shopper : if you call, does she return your call promptly? Does she answer an email in a timely manner? Is she/he interested in YOU?
You have choices. It doesn't have to me me that you choose to represent you, but please choose wisely.

Good stuff

.I just got back from Carlsbad, CA.

My daughter, a Realtor, was showing property all weekend and wrote two offers. What the newspapers are saying , in that area, is that the lower priced properties are going at or above asking price. The higher priced properties (800,000 - 999,999) are being sold at record rates. We went to one gated community of all new homes-- all SOLD out!!!
Maybe that trend will move to our area.

Sun City Stats as of 4/5/09

There are 177 active listings from $187,500 for a Ca. Casual (1110') to a Provence at $939,000 (3232')
There were 14 pending sales since March 5, 2009
from $205,000for 1283' to $650,000 for a Portofino on the golf course.
There wee 11 closed escrows from $228,000 for al Lanai(1213
to a Monaco at $419,900 (2367')

As you probably notice 9 of the 14 pending sales are under $400,000. 9 of the 11 solds are under $400,000

The average price per sq. ' if $185.46

There seems to be more activity that will probably result in more sales. And, the inventory has dropped giving buyers fewer choices.

If you have questions or comments, please let me know at 760-285-7676 or elmorinpd@aol.com

Sun City Stats

Well, I think we finally hit bottom and are on our way up

The statistics are from Feb. 13 until Mar. 13, 2009

197 active listings, from $199,900 for a Ca. Casual (Pasadena Model) to $1,025,000 for a Marseille on the golf course (2938')

Here is the real exciting part:
There were 16 pending sales this month, from $239,900 for a Lanai model (1213') to $519,000for a Baccarat on the golf course.

There were 9 homes that closed escrow this last month, from $236,400 for an Orrefors to a Marseille on a privacy lot for $655,000.

Very encouraging, even thought prices are down.

MLS Statistics : comparing MLS Continuous Days on Market to the percentaage of List Price Received as compared to the actual Sales Price by Seller. Here is a summary for Sold properties over the past 3 months in Rancho Mirage, Palm Desert, Indian Wells, La Quinta and Sun City. Bottom LIne--If you price competitively , right from the start, the historical data shows the seller will sell the property faster and close escrow at a price point closer to the List Price

Residential Properties Sold for less that $400,000 (286 properties sold)
0-30 days 31-60 days 61-90 days 91-120 days 120+days
No. of
Listings 62 63 36 27 108
Sold

Average
Sales Price 97.45% 94.59% 94.14 % 91.96% 92.2%
as a % of
List price

Residential Properties Sold between $400,000 and $799,999 (123 sold)

No. of 20 22 22 15 44
Listings
Sold

Average
Sales Price
as a % of
List Price 95.79% 94.21% 92.09% 91.87% 91.85%

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