Good News For Buyers From $200,000 to $350,000
As many of you know, we keep a close watch on our local market stats. Trends develop which many times help us spot opportunities early. As you may know, the first time homebuyer tax credit expired recently. The federal tax credit had spurred sales of entry-level homes and we were seeing a lot of competition for properties in the $200,000 to $350,000 segment.
With that tax credit gone, there are enhanced opportunities for entry-level buyers in several valley communities. We don’t know how long this window will last as cooler weather approaches many parts of the country. Fall usually brings a sizeable increase in buyer traffic in our desert, so, if you are interested in the $200,000 to $350,000 price segment, please take note of this opportunity.
Enclave Mountain Estates, La Quinta
The National Association of Realtors® reported today in the national media that existing (resale) home sales nationwide dropped 27.2% in July of 2010 compared to July ’09. “National sales are at the lowest level since the report began being released in ’99, and single family homes – which account for the bulk of sale transactions – are at the lowest level since May ’95,” the report indicated.
We’ve enjoyed Don Diego’s in Indian Wells over the years. Realizing we hadn’t been there for over a year, we recently made the ten-minute journey from the heart of La Quinta to Indian Wells.
After returning from a recent trip to Italy we longed for great Italian food here in the desert. On past visits to Sirocco, Chef Livio Massignani and his pastry chef wife, Margherita, prepared and served the best Italian food in the desert. Simply amazing! We noticed upon sitting down for dinner this time, however, that the menus had been changed extensively. We were told that Livio and his wife had retired just four months ago. Unfortunately, it appears that Livio and Margherita took their great recipes with them.