2008 to date

It's late May and the Real Estate market in La Quinta has been challenging. Foreclosure opportunities have had their strong pockets in La Quinta and the prevailing mindset of buyers has been that of deal seekers. La Quinta Cove's single family homes have sold well as most are REO properties and many were sold for under $200,000. Gated golf communites were very quiet until Mid-March and about half of the sales in these areas were over $1,000,000.
Sales in the North La Quinta home tracts have been relatively quiet compared to the southern side of town.
It's a completely price driven market, buyers are calling the shots and the Banks are very conservative in their lending decisions. The Canadian buyer has emerged to benefit from the devalued american dollar. Many prospective buyers have indicated they are planning a summer trip to the desert to capitalize on what may be the best buys of the year.
Economists in the know feel the recession is upon us and the housing market will be the key indicator as to when we are coming out of these hard times. Most analysts indicate we have a solid 12 months until foreclosures begin to dwindle and home prices begin to stabilize.
Please check this Blog weekly for further information.
We welcome your input and experiences in either trying to sell your property or in trying find the right buying opportunity.