Bob Fogal Commentary
“Sad But True?”
List Compiled: August 6, 2008
For homes that are priced at “retail”, the above cartoon is pretty much the way it is. However, there are a handful of really nice properties that are priced to move at “wholesale” pricing. That’s what Desert Life Properties brings you every week.
The #1 Best Buy from last week is an example. Former model home, just 3 years old. Upscale development. Pool, spa, wood floors, granite, stainless… all for $122/foot. We said it would go fast. It did. Just a couple days for the paperwork to fly back & forth. Now it’s gone. It was listed for $504,900. We guessed it would sell around $540k. We’ll let you know.
Latest News
From the “Its Tough All Over” Department comes word today that the Chinese Real Estate Boom is now over. The huge profits experienced by China's real estate market in the past decade have come to an end, according to state-run Xinhua News Agency.
Timber giant Weyerhaeuser posted a giant loss in the second quarter, hurt by a slump in U.S. housing that walloped sales of its lumber, panels and other products used in construction. The Federal Way, WA company lost $96 million. "Unprecedented conditions in the housing market are reflected in the second quarter results of our Real Estate, Wood Products and Timberlands businesses," Daniel S. Fulton, CEO.
Here come the Best Buys!
1. $173,000 minimum bid! – AUCTION SCHEDULED for August 17th- Was $545,150/$153 - 3560’- 4BR+den /4.5BA – Bank owned - window coverings, 2 car garage, desirable Plan 3, interior lot. $105 HOA. Would pull $3500/week as a vacation rental when completed with pool. Contact Rhonda for Auction details and assistance. 760-861-1307. It could be yours.
2. $599,000/$209’ – 4BR – 3.5BA – 2862’ – Brand new builder close out. Great Palm Desert location. Top energy efficiency rating. Pool/spa, upgrades, fans. $72 HOA. Small 16 home development. Vacation rentals OK.
3. $289,900/$152’ – 3BR – 2.5BA – 1897’ – One of the best deals in South La Quinta! Turnkey furnished, vacation rental possibility. Compare this to any condo. Fireplace in MBR. Mountain views. Time to make the owner an offer. If you don’t want or need a pool, this may be the one to see. Or, buy a country club membership with the money you save on this house…swim at the club!
4. $699,000/$193’ – 5BR – 4.5BA – 3610’ – Custom pool, spa, firepit, upgraded granite, tile, fireplace, fans, window coverings, casita. Short sale. Furnishings available. Currently successful vacation rental. $60k gross in 12 months.
5. $499,900/$144’ – 4BR – 3.5BA – 3468’ – 22,216’ lot! – Listing came on the market 7/29/08. Bank owned. Super upgrades, hardwood floors, granite, stainless, 3 car garage. Prime gated community. This is a GOOD one!
6. Yet another PRICE DROP! Now $729,900/$224’ – 3BR/3.5BA – 3251’ – Pool, spa, granite, detached casita, wet bar. Gourmet kitchen with pro quality appliances. Best buy in Palmilla, prime south La Quinta location. Not a short sale. Seller may carry buyers contract! This is a beauty at an even better price.
7. $439,900/$193’ – 3BR – 3.5BA – 2272’ – Large condo in premium golf course location. Brand new listing 8/6/08! Bank owned. Incredible views, popular floorplan, fireplace. Community pool/spa is right across the street.
8. $730,000?? – 3BR – 3.5BA – 3689’ – Private pool/spa in secluded front courtyard. Hacienda style, hand painted tiles, wrought iron. This could be the special Country Club home you’re looking for! Would make a good vacation rental. Was getting $3500/week. One of only 17 golf course homes grandfathered in with no HOA’s! Motivated realistic seller. Very much worth taking a look at. Estimated short sale pricing at $730k.
9. $515,000/$152’ REDUCED from $575,900 – 5BR/4BA – 3371’ – Bank owned. Upgraded granite & tile, 4-car garage, large lot, casita, MBR balcony. $103 HOA. Vacation rentals OK.
10. $795,000/$229’ – 4BR-4BA-3464’ – Short sale, but well worth the effort. This is prime property in an A++ location. Check out the pictures. Mega-upgrades, travertine, granite, blah, blah, blah. Don’t say we didn’t tell you about this one.Bubbling under the Top 10
11. $489,900/$144 – 6 BR/5.5BA – 3399’- Bank owned. TWO Casitas! Huge 22,200’ lot. Granite. Built 2006. Upgrades. Upscale development. Ready for your dream pool. 6 BR & 5 ½ baths for under $500k? Vacation rentals OK.
12. $439,900/$162’ – 2700’ – 5BR/4.5 BA –Bank owned. Detached casita, granite, built in 2006. South La Quinta, close to everything.
13. $450,000/$152’ – 4BR-3BA – 2957’ – They’re going to keep dropping the price until you buy! Cul de sac, prime South La Quinta location. Short sale. This could be worth it. Amazing back yard. Casita. Lake view from front courtyard. Vacation rentals OK.
14. $530,000/$178’ – 3BR – 4BA – 2975’ – Desirable South La Quinta Country Club. Built 2004. Casita, upgrades, granite, fireplace, way under market. Another worth the effort short sale opportunity.
15. REDUCED to $470,000/$169’ – 5BR – 4BA – 2766’ – Short sale. Upgraded slab granite, tile, carpet, fireplace. Large pool-sized lot. Listed 7/1/08. Vacation rentals OK.
16. $470,000 – 5BR/3.5BA – 2406’ – REPO - Recently listed. Pool, spa, fabulous landscaping, separate Casita. Hardwood floors, fireplace, BBQ. Great location. No HOA’s. This is a very nice one. Vacation rentals OK.
17. $349,900/157’ – 4BR/2.5BA – 2224’ – Not a short sale, but priced to sell! Private pool, spa, 18” tiles, stainless appliances, ceiling fans, fireplace. Located in gated community. $120 HOA.
18. $259,500/$150’ – 3BR/2BA – 1727’ – South Palm Desert special! Bank owned, needs a little TLC. Pool, ceramic tile, berber carpet, built 1977. 7400’ lot. Price drop from $337,000.
19. $395,000/$166’ – 3 BR – 3 BA – 2368’ – Always wanted to live in Indian Wells? Here’s your chance. Reduced $100,000 to sell. Built 1980. Premier location. Separate Casita. NOT a repo or short sale! Seller wants offer!
20. $274,900/137’ – 2004’ – 4BR/2.5BA – Bank owned. Prime south La Quinta gated community. FIXER!! Large yard with pool spa, fireplace. HOA $135/month
21. $699,000 – 5 BR/4.5BA – 3406 sq. ft. – NOT a short sale or Repo, this is a fully “turn-key” furnished luxury home on 1/3 acre with pool, spa, water feature, casita & upgraded everything: Granite, tile, fireplace, surround sound, HDTV’s, fire pit. Currently rents for $3000-4000/week as successful vacation rental. $105 HOA. Compare the value.
22. $755,000/$232 – 3BR + Den/3.5 BA – 3252’ – Lowest price at “The Citrus”! $400k price drop to sell FAST. Upgrades, granite, pool/spa, wine closet, on 14th hole of golf course. A super prime property, includes golf cart.“Turn-Key” Home Preparation and Set-up
Complete executive home set-up from a bare wall house and empty yard to a fully furnished and completely decorated and landscaped home with pool and spa for use as a primary residence, second home or vacation rental. Call Architectural Illustration & Design of La Quinta 760-391-3835.
Is That All There Is?
Desert Life Properties has more great buys not on this list… homes “soon to be listed” not yet on the MLS, “by-owner” sales, pocket listings, etc. Call Rhonda Knerr (760-861-1307) or Natalie Turner (760-485-0511) of the Desert Life Properties sales team.
Income From Your 2nd Home!
Vacation rentals can be profitable, especially for well-located homes with private pools. Turnkey property set-up and management is available through Desert Luxury Vacations. 888-333-1975
Commercial Property! --- Call Justin @ 888-333-1976
Through our networks and contacts in this area, we come across prime commercial properties and other investment opportunities in the Coachella Valley, some of which are NOT being actively marketed elsewhere or on MLS. Investment grade triple-net leased, and others.
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