Here's the activity for last Thursday and Friday!
Central Palm Springs:
New Listings:
401 S El Cielo Rd., #58, La Palme, 2/2, $142,700.
500 E Amado Rd., #114, Deauville, 1/2, $225,000.
212 W Via Lola, Las Palmas, 4/4.5, $1,395,000.
In Escrow:
411 Rio Vista Dr., St Tropez Villas, 2/2, $229,000.
318 Villagio E., The Villas in Old PS, 3/3.5, $729,900.
Sold:
217 Villorio Dr., E., Villorio, 2/2, $385,000.
555 W Baristo Rd., #16, Tennis Club Condos, 3/2, $540,000.
241 N Farrell Dr., Sunrise Park, 4/2.5, $385,000.
777 Tamarisk Rd., Ruth Hardy Park, 3/3, $399,000.
South Palm Springs:
New Listings:
2462 Via Sonoma #A, Saddlerock Gardens, 2/2, $199,500.
19 Westlake Dr, Seven Lakes Country Club, 2/2, $249,000.
2139 Lawrence St., 4/2, $99,000.
In Escrow:
253 E Twin Palms Dr., Royal Hawaiian, 2/2, $200,000.
660 E Sierra Way, Canyon North, 3/2, $729,000.
1741 Pinnacle Point Rd., Andreas Hills, 3/3.5, $1,595,000.
Sold:
1111 E Palm Canyon Dr., #353, Ocotillo Lodge, 1/1, $120,000.
6208 Paseo De La Palma, Tahquitz Creek Villas, 2/2, $185,000.
1814 Sandcliff Rd., Garden Villas East, 3/2, $266,000.
958 S Calle Santa Cruz, Demuth Park, 3/2, $119,000.
Source: Desert Area MLS. Listings are not necessarily those of Zephyr Real Estate/RS Associates.
Russell Hill RS Associates 760.203.2959 RussellHill@dc.rr.com
15 comments:
Could your figure be in error for 212 W Via Lola? Zillow is reporting it listed for sale by Debbie Toohey at $2.395 million -- a full $1 million above the listing price you reported.
The Via Lola house is now a short~sale and, yes, it is now priced $1Million below an earlier asking price. The Via Lola house is a clear indicator of what has occurred in the market. 3 years ago that house would have sold in one day at the new price. Today, we will see if someone considers it a bargain and snatches it up. Short sales are notoriously tough to deal with. I don't know if the bank that holds the mortgage for the house will makes thing easy for the prospective buyer, but at a certain price the headaches should be worthwhile to some savvy investor.
That house is known as 'The Kate Smith House'.
Thanks Willy for your response. As you say, one more sign of the plummeting price level in Palm Springs and elsewhere. My partner and I have been tracking the price collapse as you have.
But still, something smells odd here. The Debbie Toohey office, one of the biggies in P.S. as you know, shows the house currently on their site at the 2m+ price, and they posted this (sky-high) price on Zillow just Three Days Ago ... coinciding almost to the day with the posting on the PSRE Blog at $1m+.
In the Zillow posting, it says the seller is "negotiable" -- well, doh, I guess so, smile.
Here's the Toohey listing, in case you're curious:
http://debbietoohey.com/propertydetail/?pl=14835
K.
Hi, Kundalini~~~I don't know why Debbie Toohey has listed the house on Zillow with the incorrect price. I saw that the house sold in '03 for $975K, do you know if that was before the house was fixed up? I have been in the house, and though it has some small room for improvement, I thought it was a truly grand and beautiful place. I particularly loved the massive dining room. The price of $1.395M does seem truly tempting, I mean it packs so much punch and has tons of drama etc. It's not really my 'cup of fur' though, as my partner and I favor 60's modernism (having done '20s Spanish Villas and '40's modernism in the last 20 years).
As much as some of the Old Las Palmas and Vista Las Palmas houses have dropped in value, I am truly shocked at some of the prices in Andreas Hills~~~the prices on some of those houses seem almost 'give~away'. My partner and I really love that part of town, but then (as prices began to tumble) we became more focused on Old Las Palmas and to a lesser degree, Vista Las Palmas. My absolute favorite place though is Southridge Estates but, alas nothing has ever come on the market (that I know of) in our price range.
Best of luck to you and your partner in finding your desert home.
WW
Kundalini, the most reliable source is the MLS. Zillow is notorious for showing "old data" I had a client who insisted that a home was for sale because Zillow said it was. In fact, I had sold the home a couple of months earlier...Zillow hadn't updated their information. As for an agent's website (Debbie Toohey's as you reference) is generally only as good as the person updating the information. Most of the agent websites don't communicate directly with our local MLS.
Debbie Toohey did indeed have the listing until 6/9/09. The last list price with Debbie was $1.595, originally listed at $2.395. Previous to that, Debbie had it listed at $2.495 (summer of '08).
Are you interested in seeing the home? It's a good value and if you're patient and don't mind waiting for the bank to respond to your offer, it can be worth your while.
Thanks so much!
Russell Hill/RS Associates
760.203.2959/902.3121
Willy, thanks for your great comments! Thanks for posting!
Russell
760.203.2959/902.3121
Hey Russell,
Wow, someone's asleep at the switch in the Toohey office. I should add, what caught my eye here was the million-dollar price discrepancy, not the house itself, which is not my cup of tea (as Willy said).
At this stage my interest in the market is at the level of long-term fantasy, but let me take this opportunity to say how much I appreciate your blog. It's a fabulous help for those of us keeping an eye on the market from far away (N. Cal. in my case).
Warm wishes to you,
K.
Hi WW,
Is Southridge Estates the hilltop where the Bob Hope house is? I guess everything there is in the multi-millions, but the views must be great. Like you I'm coming to appreciate Las Palmas ... close to downtown! My partner and I pretty much rule out Andreas Hills ... too far out, and mostly just "executive" houses.
12/22/03 is the last sale for 212 Via Lola, according to Zillow. Unlike you, we have never toured the property; at 5500 sq ft it's way too much house for us. I don't know about any recent remodeling; none is mentioned in the Toohey blurb.
P.S. Dittos on your love of Patrick.net -- world's best tracker of the falling dominos of our world today.
K.
Hello, Russell. I just love your blog and your hard work and dedication to keeping us informed. When my partner and I are ready to sell our house we will be certain to call you in for a consultation.
Hi Kundalini. Yes, Southridge is where the Bob Hope house and the famous Arthur Elrod house designed by John Lautner is located. There is a community outside of the gates of the Southridge Estates area, but it is composed of condominiums and not single family residences. My partner and I attended an event at the Elrod House and the house just shines at dusk and night~time. It is truly magical and has such a sense of timelessness that is hard to explain. It made the cover of Julius Shulman's Palm Springs Modernism book.
It's certainly nice to meet up with some like~minded souls on Russell's blog. I have referred it to a couple of friends of mine who are beginning to like what they see price~wise in the desert and are waiting for the right moment to jump on a vacation home.
The fake (Kate Smith House) has been stripped of a lot of items inside mostly. The roof is in need of costly repairs. the floors and walls need a lot of repairs. I would guess this house could sale for no more than 900.000, in this market..
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