Here's the activity for Wed., 5/12/09. Another "slow" day.....
Central Palm Springs:
New Listings:
None
In Escrow:
222 N Calle El Segundo, #567, Plaza Villas, 2/2, $184,900.
485 N Hermosa Dr., Greenhouse, 2/2, $199,000.
2195 Tamarisk Rd., Sun Villas, 3/2, $174,900.
1360 E Tachevah Dr., Ruth Hardy Park, 4/4.5, $1,525,000.
Sold:
1097 Pasatiempo Rd., Ruth Hardy Park, 5/3.5, $400,000.
3625 E Paseo Barbara, El Rancho Vista Estates, 3/2, $410,000.
South Palm Springs:
New Listings:
1655 E Palm Canyon Dr., #104, Smoketree Racquet Club, 1/1, $139,000.
1240 S Manzanita Ave., Deepwell, 4/4.5, 796,000.
In Escrow:
None
Sold:
319 Westlake Ter., Seven Lakes Country Club, 2/2, $185,000.
Source: Desert Area MLS. Listings are not necessarily those of Greater Palm Springs Realty/Russell Hill
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Russell Hill 760.203.2959 RussellHill@dc.rr.com
2 comments:
Buying real estate bargain properties can be a great way to make a large profit. If you take the time to do your research and select the property carefully, you can make a great deal of money.
Some people with cash are definitely taking advantage of the market conditions and buying themselves some bargain properties. Many people have been waiting for a time, just like this, to venture into the housing market. Every market presents some opportunities. The time to buy is when all others are selling. The time to hold your cash is when everyone else jumps in to buy. As Carnegie said "When the shoeshine-boy is giving stock-market tips it's time to get out of the market". When everyone is crying and wringing their hands while countless numbers lose their homes to foreclosure it's time to look at the market and choose wisely. For many people, the time to pick up that bargain property in the desert is nigh. Riverside county sales are beginning to creep up. Lenders are beginning to accept the $8K government kickback as a down payment for a first time buy. California is giving those buying new houses $10K toward their purchase, but only until the funds are gone. Two years ago houses in Deepwell were selling for a million and houses in Vista Las Palmas were hovering around the 1.5 M mark, now there are bargains for less than half that. When it's cheaper to rent than it is to own, it's time to buy.
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