Is it time to Buy, Sell or HOLD?
Buy Low and Sell High! Those are great words of advice to live by, but trying to figure out the market to the perfect high and the perfect low would take a crystal ball... I had a client that said to me once, "Jenell I don't have to sell at the high or buy at the low, I just have to get close."
Many times as consumers we only see the drastic highs and lows of the market in an exaggerated curve of the overall state of the union and or statistics for real estate for the state of California or even the Coachella Valley as a whole. But, the nuances of the specific markets vary incredibly. In any one of these scenarios there will be parts of that market that are up and some that are down or steady. The micro data can be drastic and still even out the curve to present the market in an up or down curve. The value of your real estate and weather it is a buyers or a sellers market varies by economic outlook, neighborhood, price and style and each one of these factors can extremely effect the price range for buying or selling a home.
Ok so we are now into this two paragraphs deep and I still have not told you if it is time to buy or sell and I'll just say this.... look at the overall market indicators and where the big picture in real esate is going. There are a lot of big picture influences that will have a direct effect on our residential real estate market. One of them is HUGE and that will be the effects of the Trump Presidency and not as much what he does or does not do but what the public thinks. Trumps biggest affect on the residential market ost but his most promenade influence on the residential market will show in the consumer confidence numbers. This number is a high predictor of the market, but it is also a moving target. The cost of money is a huge influence on the market and can make a difference in a buyer decision to stay or get off the fence. There is also the effects of the boomers a particular concern in the real estate market in the Coachella Valley as 20% of the homes out here are owned by boomers.
Economic outlook, watch global and act local. The Coachella valley is completely unique in its economic trends when compared to national trends. It is important to talk to a Real Estate agent that works in the specific area you are looking to buy. The Coachella Valley does not always run parallel to the trends or the Nation or the Sate of California or even the County of Riverside. The Coachella Valley has quite a disparity of wealth between the various cities. Coachella home prices vs that of Indian wells? It is important to focus on the individual qualities of the desert, landscape, weather, and population demographics, how this differs us from not just the rest of the country but the rest of southern California.
Economic outlook, watch global and act local. The Coachella valley is completely unique in its economic trends when compared to national trends. It is important to talk to a Real Estate agent that works in the specific area you are looking to buy. The Coachella Valley does not always run parallel to the trends or the Nation or the Sate of California or even the County of Riverside. The Coachella Valley has quite a disparity of wealth between the various cities. Coachella home prices vs that of Indian wells? It is important to focus on the individual qualities of the desert, landscape, weather, and population demographics, how this differs us from not just the rest of the country but the rest of southern California.
The Boomers are a huge influence in the Coachella Valley market not only in the type of product they are looking for NO stairs, LOW HOA, LOW maintenance, Open Floor Plans, Walkabiltiy Scores, but in what city they will live in.... For example as I said 20% of the Coachella Valley is over 65, but in Indian Wells that number drastically increases to 59% and in Rancho Mirage that number is 44%, Palm Desert 32%, Palm Springs 27% and LaQuinta 24%. So, how does all of this effect you when you are buying or selling your home. Well, the picture gets even more complicated by the price range of your home and even more complicated by the style of your home. For example Mid Century Modern is still HOT and I have seen the craziest sales on flat roof, horrible construction and a door painted orange that have SOLD for 30% more then I thought ever possible and don't get me started on Tusc-done (only because my house is still in that Tuscan style and just like that great Norma Kamili dress with the giant shoulder pads that will still come back in style someday and keeps a proverbial place in my closet) I'm waiting for Tuscan to come back) Anyway Tuscan is out and ripping up all the expensive hardscape from that era is expensive and we are again and again not getting the ROI those owners had expected. I can not tell you how many times I've heard... But, I paid BLAH BLAH BLAH for that granite, marble, venetian plaster, alabaster.... and the list goes on and on.
And just before you think I'm finished don't get me started on Golf Course properties where a Golf Course view once demanded a premium price, those were the days! With the fear of California's drought fresh in the consumers mind where many golf courses took advantage of the excuse not to water and save the HOA some dough. Consumers are now afraid to buy on the course in fear that they will some day open their leveler blinds to a hideously brown extensive view of dead grass. Not, to mention the number of courses even here in the valley that have shut down or leveled huge xxx on their members to save the golf course (a dying sport by the way) And buyers are no longer willing to pay the high HOA's for a golf course that they are not even going to play on and if they are only going to play a couple of times a year there are way better ways to accomplish that goal.
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