Palm Springs real estate. Homes sold in Palm Springs. Central Palm Springs. Since August 1st, there have been just two sales recorded in The Desert Area MLS for Central Palm Springs.
8/1: 546 N Indian Canyon, Movie Colony, 2/2.5, 1964sf, $790,000. ($850,000.)
8/1: 550 Camino Del Sur, Las Palmas, 5/5, 5383sf, $849,000. ($849,000. sold in 5 days!)
As always, price in parenthesis is original list price.
Please share your comments.
Russell Hill 760.902.3121 RussellHill.net
8 comments:
R-
Was 550 Camino Sur a residence or a multi-unit?
Wow! whatever the hell the property is, that seems like an amazing deal.
Yes, 550 Camino Sur is a single family residence. And, the buyer got a great deal!
Deals are out there!
Russel-
Was Camino Sur on the MLS or was it a pocket listing or bank foreclosure that was advertised otherwise. I just can't remember seeing it on MLS and I go on pretty much everyday under the guest search to see what's becoming available and what's selling/sold.
Hope you're doing well and to see you soon.
550 Camino Sur was on the MLS, came active on 6/20, pending on 6/21, back active on 7/2, then back pending on 7/3. Closed on 8/1. It does appear that it was a foreclosure, even though that is not mentioned explicitly in the previous listing.
What's the best way to find out about upcoming foreclosures before it's too late? I'd love to find a larger place like Camino Sur for that price, but it seems like they're gone before I even know they ever existed.
You should have an agent, such as myself, work for you to locate and stay current with new listings, etc. As an agent I am "notified" of new listings, plus we're always hearing about upcoming deals, etc
My partner and I purchased 550 Camino Sur. It is the former estate of George and Roslyn Hearst. We are in the process of restoring the property. We will retain the house's mid~century architecture and we hope to bring it back to its former glory.
The best way to purchase a property such as this one is to be on top of the market and look at everything that becomes available on the day it hits the market. He (or she) who hesitates is LOST. You must do your homework (know what houses are SELLING for and what you are willing to pay). Bargains such as this one are out there and they are going to still be available for some time to come...but you must have your financing in hand in order to strike the best deals. This was a no~contingency sale. No loan contingency and no contingency of ANY kind. So to buy something like this you must have CASH available.
Good luck out there. Lots of wonderful houses are being offered for bargain prices. The day we bargain shoppers have been waiting for is upon us. The economy is in turmoil~~~but I have been renting for close to 3 years~~~and it is cheaper for me to have bought this house and put money into it than it is for me to continue to pay rent. When it is cheaper to OWN than it is to RENT, you KNOW it is a good deal.
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