Whether it be real estate updates, restaurant reviews, events, or highlights of unique homes in Palm Springs, follow Sheri as she covers all that Palm Springs and the surrounding area has to offer.
Our happy buyer clients just closed on this great property at the private Tom Weiskopf course at PGA West. Great location and sweeping views to say the least!
Our Desert Area MLS shows that this 10,124 square foot custom home sold today for $5.7 million at The Reserve Club in Palm Desert. Built in 2003, this seven bedroom, ten bath custom residence was originally priced at $6.9 million. Located on the 18th fairway of The Reserve Club, this home offered lake, golf course and mountain views. The sale price works out to $563.02 per square foot.
During the last six months 28 desert homes have sold at over $2 million and this price segment continues to receive increased activity. The high sale price during the last six months here in the Palm Springs area was $6.5 million for a custom home of 8,266 square feet at The Hideaway Golf Club in La Quinta.
Susan Canavan represented they seller and Susan Eberle represented the buyer. Photo Credit: PostRain Productions.
Palm Springs area real estate sales increased in 6 of 7 area cities during the last six months of 2011. It appears that buyers in increasing numbers are continuing to take advantage of some of the best opportunities in over a decade. But let’s let the sales numbers speak for themselves.
In addition to the increases in home sales, the average sale price for the combined seven cities increased by 2.67%. The average sale price in Indian Wells was up an impressive 20.06%.
Keep in mind that real estate is local, very local!
Bob Cunard, the proprietor of Cunard’s Sand Bar, is a living ‘old school legend’ here in the desert. He’s owned multiple restaurants and bars, was a top amateur golfer in his younger years and has lived a very interesting life. I believe that Bobby knows more people in the desert than just about anyone else I can think of.
Cunard’s Sand Bar was originally a biker bar when Bobby bought the building about 27 years ago. The joint isn’t fancy but it certainly makes up for that with character. Pete, the bartender, has been tending bar for all of those 27 years and he’s served countless celebrities and has the stories to match. Many of the servers have worked at Cunard’s for decades, too.
My husband, Bill, and I visit Cunard’s several times each year when we have a hankering for a fun old school dinner. Bobby’s son took over the chef’s duties this year and the menu has been updated. We usually enjoy one of several pasta dishes, chicken, and an occasional ‘Surf and Turf’ with a filet and king crab legs.
Cunard’s offers dinner specials most nights and is noted for old school dishes like sand dabs, fried chicken and pork prime rib. Most dinners include your choice of a small salad or soup. The food is good, the portions are generous, and the servers welcome regulars back year after year.
Patrons trend heavily on the silver side of life but younger people can often be spotted taking in the scene, as well. I often enjoy being the youngest person in the restaurant! The building doesn’t look like much from the outside, but judging from the number of high-end cars in the valet parking lot diners are well aware that there’s more to the story inside than meets the eye outside.
Entertainment is offered on most nights including Bill Marx on the piano several evenings a week. Bill is the son of Marx Brothers great Harpo Marx, and he certainly has some stories. Bill’s mother, Susan Marx, also had a successful show biz life as actress Susan Fleming who appeared in movies with John Wayne and W.C. Fields, to name just two. Guests famous and otherwise tend to drop in to vocalize on many nights.
As a side note, Bobby introduced my husband Bill Dettman to me when they were out for a glass of wine at the former Andrew’s in La Quinta. Bill didn’t know it, but Bobby talked him up like he was running for office!
Cunard’s Sand Bar is located at 78120 Calle Tampico in La Quinta (3 blocks west of Washington just across from Old Town La Quinta and next to Embassy Suites). Contact them at (760) 564-3660.
PGA West golf homes on the Tom Weiskopf golf course
PGA West real estate sales increased 10% in 2011 over 2010. Single-family home sales increased 9.49% to 106 units and sales of PGA West condos rose an impressive 15.22% to 92 unit sales over 2010.
Real estate sales within the gates of PGA West totaled $109 million for in 2011 with 180 total unit sales compared to $103 million in 2010 with 162 unit sales.
The PGA West Greg Norman gated community scored a ‘double-double’ as sales grew an impressive 50% in ‘11. The average sales price of a Norman single-family home also increased 4.78% to $943,438.
PGA West Average Home Sale Price Now At $792,988
The average sales price for a PGA West single-family home during 2011 was $792,988 while the average condo sale price hit $402,577. Overall sales prices declined 8.32% during the year, which seemed to fuel the unit sales increases of both PGA West homes and condos.
Golf membership prices at PGA West were reduced from $125,000 to just $40,000 last November, and this could have a further positive impact on 2012 sales. Time will tell, so stayed tuned.
PGA West includes six gated golf communities including Legends, Greg Norman, Nicklaus Private, Nicklaus Tournament, Palmer Private and the Tom Weiskopf.
Data Source: MLS sales data compiled by Sheri Dettman & Associates ©
The one of a kind showpiece by noted designer Guy Drier at Mirada Estates in Rancho Mirage features 6,782 square feet and is a true showplace.
I toured this home recently and it is one of the most impressive homes in the desert. The private views over the valley floor from the Mirada hills were equally as impressive as the home, which includes numerous water features flowing off the roof.
This home was recorded as sold today in the MLS for the full asking price by the bank of $3,295,000. Why full asking price? Many people assume that the banks asking price is only the starting point for negotiations. That depends on the rest of the story behind the property and the current market trends.
Previous Asking Price: $4.495M
The original owner had originally listed this property for sale at $4,495,000. And in a normal market and economy that is likely what the true value would be.
Over the last six months there have been less and less bank owned homes coming on the market. Part of the reason is likely that banks are getting better at working with sellers in agreeing to short sales and those properties are no longer going on to become foreclosure properties.
Banks are also pricing most foreclosure properties at just under market value. In this case this home very likely sold for under the replacement value. The buyers got the home for less than it would have cost to by a custom lot (which had sold for $1 million), pay Guy Drier for the design and then build the home over a period of 12 to 18 months.
Like many bank owned desert homes, I’m told there were multiple buyers interested in this unique property. The new owner paid the banks asking price and the others bidders are likely wishing they had.
MLS Listing #2142153 Courtesy of Windermere Realty
The Palms Golf Club in La Quinta features a 'core golf layout' with the golf course as the center of the community. Just 101 homes are located around its outside perimeter resulting in spectacular views. More than 2,000 date palms, 1,000 desert mesquite trees and hundreds of fruit-bearing citrus trees combine to give the Palms a unique flavor. Three creeks wind through the community adding to its aesthetic appeal. Members may walk or ride golf carts.
Tradition Golf Club, La Quinta
A number of Palm Springs area private golf and country clubs recently seemed to wake up to the fact that desert home buyers, and prospective home buyers are seeking better values for golf and country club memberships–just as in real estate.
Each private club wants to keep its membership ranks as full as possible. And it’s often a balancing act in adjusting prices to meet market conditions. The good news for prospective club members is that there are some very attractive programs at some of the best private clubs in the desert. Membership prices have likely not been this good in over a decade.
Rancho La Quinta Country Club
Please don't hesitate to contact me for further information on any of the wonderful golf and country clubs here in the desert. I'm happy to arrange private tours, property viewings or to introduce you to my friends in the various membership offices.
Note: Rates and programs are subject to change and availability.