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Monday Morning Real Estate Market Update 08/25/2008

by Rob Zwemmer

                                                                                                                                                                                                                                                   Good Monday Morning,


With 4 more weeks of hot and sticky weather, the summer is almost over.In the desert market we see sales continuing to improve as buyers are taking advantage of "bargain prices" (meaning prices must less than the last sale of the home they’re buying). Inventory is currently on a 2 year low
as the market continues to absorb Bank Owned Homes for Sale ! properties.

To have direct access to these properties: http://www.FindMyDesertHome.com

If you are considering the sale of your home you can receive an e-mail analysis that will give you a good indication of your homes current market value at www.desertmarketreport.com.


Mortgage Market update!

This week there are several important reports coming out to gauge where the economy is and is going.  With the current volatility in the mortgage industry, true knowledge and insight are more valuable than ever, which is why I monitor the market throughout the day and keep you informed of changes that impact you.


The time is nearing end for NEHEMIAH and Down Payment Assistance programs (DAP)! At the end of September, as you know, the DAP will be going away, yet we have until September 5th to get the deals accepted and opened

Even though the media is saying it’s tough to get qualified for a mortgage I am not finding that to be true. 1 Canadian dollar = 0.955475 U.S. dollars

 

Desert Weather

 

Have An Awesome Week!

BETTER TO ATTEMPT AND FAIL...

by Rob Zwemmer

 

"Far better it is to dare mighty things, to win glorious triumphs
even though checkered by failure, than to rank with those poor
sprits who neither enjoy nor suffer much because they live
in the gray twilight that knows neither victory nor defeat."

~ Theodore Roosevelt

 

BETTER TO ATTEMPT AND FAIL...

In an old "Peanuts" cartoon, Sally is making a list while Charlie Brown looks on. Sally says, "I'm making a list of all the things I've learned in life..." In the next panel she continues with, "Well, actually, I'm making two lists." Charlie asks, "Why is one list longer than the other?" Holding up the much longer list, Sally explains, "These are the things I've learned the hard way!"

It's easy to chuckle a little at the part about "learning things the hard way," isn't it? We've all done that. There's really a more revealing message though in this simple cartoon.

The short list of things we've learned generally contains lessons that required no effort, or lessons we learned passively, while just listening. For instance, we learned simple courtesies from our first grade teacher. We learned historical names and dates from our history teacher. We learned to tie knots from our scout leader. Our parents taught us to share. The list goes on.

The important list, the one that's much longer, contains the things we've learned from experience. These lessons are endless, and no matter how trifling the lesson, we learned one every time we took action. We dared to try a two-wheel bicycle and crashed - several times. We tried out for the school play - and made fools of ourselves in front of friends.

By attempting - at the possible expense of our pride, our self-esteem, or our physical well-being - we either succeeded or failed (and learned a lesson). It is our actions that produce results and teach us those valuable lessons. Teddy Roosevelt said it right: "Far better to dare mighty things..."

Monday Morning Real Estate Update 08/18/08

by The Zwemmer Group

 



Good Monday Morning,

 

Good news from the Palm Springs Area.
the numbers are in !


the last 8 months her in the desert have been amazing for Home buyer. 
Due to the canadians and the investors we have seen a signeficant drop in inventory.

This means we are getting closer to the bottom of the market here in the Palm Springs Area.
Our housing inventory is on a 2 year low and the averagedays on the market has dropped from
115 days to 85 days. So, less inventory and homes are selling faster !

 
There are still great deals out there
To have direct access to these properties: http://www.FindMyDesertHome.com

If you are considering the sale of your home you can receive an e-mail analysis that
will give you a good indication of your homes current market value at http://www.DesertCMA.com.

 

Mortgage Market update!


The Fed announced on Tuesday that they have decided to keep the Fed Funds Rate at 2%,
and released a statement that hinted they may not raise the Fed Funds Rate in the near future. 
It’s a good time to be in the business and I look forward to working with you soon!


 
1 Canadian dollar = 0.94402 U.S. dollars


NATIONAL OVERNIGHT AVERAGES

TODAY +/- LASTWEEK

30 yr fixed mtg 6.40% 6.43%
15 yr fixed mtg 5.92% 5.95%
5/1 ARM 5.89% 5.87%
30 yr fixed jumbo mtg 7.52% 7.51%
5/1 jumbo ARM 6.35% 6.40%

  

Have An Awesome Week!

Rob Zwemmer

INSPIRATION FOR TODAY: 08/18/2008

by The Zwemmer Group

 

"I shall be telling this with a sigh
Somewhere ages and ages hence:
Two roads diverged in a wood, and I -
I took the one less travelled by,
And that has made all the difference."

~ Robert Frost, "The Road Not Taken"

PLAYING FOLLOW THE FOLLOWER?

Every morning a telephone operator in a small town received a phone call in which she was asked the time of day. One day, the operator asked her mysterious caller why he called every day to ask the correct time.

His answer? "I'm responsible for blowing the town whistle every day at noon, and just want to be sure I'm right on the second when I do it." With a chuckle, the operator replied, "Here at the telephone exchange, we set our watches and clocks by the town whistle!"

Watch children in a schoolyard and you'll notice the same thing. Children watch the child they perceive to be the leader, and then mimic his or her actions. They never realize that the other child is following the lead of still another.

So how will your day play out? Have you made original choices for the day, or will you be playing follow the follower? Either way, by bedtime tonight you will have been awake for about 16 hours and involved in some activity. Why not end the day with thanks - knowing that whatever you accomplished was by choice - not chance?

Housing inventory in the Palm Springs Area at an 2 year low

by The Zwemmer Group
housing inventory at an 2 low in the Palm Springs Area

Palm Springs and the Coachella Valley – A Warm Weather Haven

by The Zwemmer Group
The growth of the Coachella Valley, especially the Palm Springs area, is nothing short of impressive. Rough estimates have the population of the Coachella Valley almost doubling over the next 25 years. In fact, by 2066 it is expected that the population of the Coachella Valley will surpass 1.1 million.
The Coachella Valley has grown by 59 percent over the last 15 years, surpassing any area of the nation. You may wonder, what is this impressive attraction to the Coachella Valley? Perhaps it is because of its prime location in Riverside County, which is just a short, two-hour drive from Los Angeles. Or perhaps it is because of its year-round, warm temperatures and abundant sunshine. Whatever the reason, people are flocking here, both for recreation and relaxation, as well as to put down roots.
The Coachella Valley
The Coachella Valley consists of a large stretch of land in southern California. It extends for 45 miles, and is located to the east of Riverside and San Bernardino. It is comprised of nine, incorporated cities. This progressive area originally exploded in response to the Real Estate boom of the 1990s.
The Coachella Valley boasts more than 350 days of sunshine, a strong job market, an excellent quality of life and an outstanding standard of living. It is also home to several Fortune 500 companies and is best known for its excellent agricultural and recreational industries.
The gem of Coachella Valley is, with no exception, Palm Springs. This vibrant, progressive city is known as the gateway to Coachella Valley, and for good reason.
Palm Springs, which lies on the western edge of the Coachella Valley in central Riverside County and is located 107 miles east of Los Angeles, is best known for its breathtaking landscape, its rich culture and heritage, its spectacular resorts, its strong business climate and its excellent recreational activities and attractions.
It is also a hot spot for winter homes. The permanent population in Palm Springs during the summer months is about 43,000, while another 30,000 residents flock to this desert oasis during the winter, ballooning the population to almost 75,000 during the winter months.
Palm Springs is often viewed as a small city with the cultural amenities of a much larger metropolitan area. Its dining, shopping and entertainment venues are unsurpassed, as are its community amenities, which include parks, hiking and biking trails, water parks, museums, golf courses, dog parks, an Olympic-sized swimming pool and a baseball stadium.
Palm Springs is, and has been for nearly 70 years, a prime destination for tourists from all over the world, including many celebrities. This city is enriched with culture, history and a strong sense of community.
Homes are superb, property values are impressive, communities are close-knit and amenities are spectacular. The living is fine and the future is bright for Palm Springs and the Coachella Valley. A very optimistic future is expected for this area, including property values and population growth, for the foreseeable future and beyond.

The Rich History of Indian Wells California

by The Zwemmer Group
Set amidst the beautiful Santa Rosa Mountains in Southern California and located just 16 miles east of Palm Springs, Indian Wells, CA, boasts some of the world’s finest resorts, spas and championship golf courses.
The weather of Indian Wells is almost as stunning as its surroundings, with an average temperature of 74 degrees and nearly 350 days of sunshine.
Residents and visitors of Indian Wells enjoy four, world-class resorts with endless amenities. These include the Hyatt Grand Champions Resort, Villas & Spa, the Miramonte Resort & Spa, the Renaissance Esmeralda Resort & Spa and the Indian Wells Resort Hotel.
Three, exceptional spas, the Indian Wells Tennis Garden, the Indian Wells Golf Resort, hiking and biking trails and even hot air balloon rides and jeep excursions are just a few of this city’s luxury, recreational activities.
Perhaps even more impressive than Indian Wells’ luxury amenities is its rich, colorful past.
Indian Wells has roots all the way back to the early 1800s, when it was formed around a simple, hand-built well in the middle of the southern California Desert. It was then called Indian Village.
By 1823, gold was discovered in the Colorado River, so William D. Bradshaw built a trail from Los Angeles through the desert for hopeful prospectors. Indian Village was an important stop among the trail. In fact, for nearly 40 years it was the valley’s only established watering point. The trail was abandoned, though, as the Southern Pacific Railroad had at that point extended its line though the Coachella Valley around 1875.
By then, people began to recognize Indian Village and the Coachella Valley as a valuable resource for agriculture and mining, among other things. Settlers began to arrive, and soon the first market and post office were established.
By 1913, development in Indian Wells began to take off with the development of Rancho Palm Springs (now known at Eldorado Country Club) and a large homestead (now known as the Indian Wells Country Club).
Around 1916 Caleb Cook pioneered the valley’s date industry and by 1922 the date industry really took off.
The mid to late 1950s saw a huge boom in development, especially with the introduction of the Eldorado Country Club and Golf Course. What once was a simple wagon stop was now a celebrity-studded enclave. Indian Wells was now an exclusive playground for the rich and famous, including movie stars, sports legends and even American presidents. In fact, Dwight D. Eisenhower vacationed frequently in Indian Wells and loved it so much that he made it his winter residence.
Residents established the first property association in 1957 and the city was incorporated in 1967, making it the 400th city in California, and the 16th city in Riverside County. Residents and city leaders began eagerly establishing zoning and building policies.
The first Bob Hope Desert Classic was played at the Indian Wells Country Club in 1960, thereby making the name Indian Wells synonymous with world-glass golf.
Another interesting point is the Indian Wells Resort Hotel, which was founded by Lucille Ball and Desi Arnaz in 1957. They envisioned a nine-hole, private country club surrounded by homes that members can use as their second homes. They purchased 50 acres of land in 1956 and made the dream a reality just one year later.
Since then, Indian Wells has hosted many, famous events, including the Bob Hope Chrysler Classic in 1995. This star-studded event, in addition to attracting the world’s finest celebrity contestants and top PGA professionals, drew in a famous trio: President Bill Clinton, President George Bush and President Gerald Ford.
Many famous events are now held in Indian Wells throughout the year, as well, including the Frank Sinatra Countrywide Celebrity Invitational Golf Tournament and the Pacific Life Open.
The luxury, opulence and amenities of Indian Wells still attracts the rich and famous who are looking for seclusion and relaxation amidst the mountain vistas and towering palm trees.

Monday Morning Real Estate update 08/11/2008

by The Zwemmer Group

 

 

Good Monday Morning,

 

Just got back from vacation ! and happy to be back !
Home Sales has not slowed down here in the Palm Springs Area during the summer months.  So far we have seen first time home buyers,  and investors buying up the bargains.

Short Sales and Foreclosures are still dominating the the market out here.
Some of these foreclosure are still selling for 50-60% on the dollar.
To have direct access to these properties: http://www.FindMyDesertHome.com


If you are considering the sale of your home you can receive an e-mail analysis that will
give you a good indication of your homes current market value at www.DesertCMA.com.

Mortgage Market update!

Rates closed the week about .250% better across the board, and boy did we need that rally. Rates are still near the highs of the year.


Canadian Dollar = 0.944287 U.S. 

 

CONFORMING LOANS                   JUMBO LOANS  
$75,000 - $417,000                         $417,001 - $6,000,000
  
30YR.       6.500%  1 POINT           30YR.  6.625%      1 POINT
FIXED                                                  FIXED  
30 YR.          6.000%  1 POINT        15 YR.        6.625%     1 POINT
FHA                                                      FIXED  
3 YR FIX   5.875%  1 POINT             3 YR FIX       6.375%      1 POINT
ARM                                                      ARM IO  
5 YR FIX  5.875%  1 POINT               5 YR FIX      6.250%     1 POINT
ARM                                                       ARM IO  
7 YR FIX  6.250%  1 POINT               7 YR FIX        6.375%  1 POINT
ARM                                                       ARM IO  
15 YR  6.500%  1 POINT                   5 YR ARM        7.750%  1 POINT
FIXED                                                    Pay Option  
        

 

Have An Awesome Week!

Rob Zwemmer

INSPIRATION FOR TODAY: 08/11/2008

by The Zwemmer Group

 

"Opportunities are seldom labeled."
~ John A. Shedd

FILL IN THE BLANK!

From "Wellsprings of Wisdom" by Ralph Woods comes this story:

A successful businessman was invited to address a group of young executives on the subject of opportunities. He began his talk by tacking to the wall a big sheet of white paper and placing a black dot in the middle of the sheet. "What do you see?" he asked, pointing to the paper on the wall. "A black spot," called out everyone in the audience. "Yes, I see a black dot too," replied the speaker, "but none of you saw the much greater expanse of white. This is the point of my talk on opportunities."

While it is so easy to focus on the "black dots" - the immediate tasks that face us each day - how often do you grasp the opportunities that no one else notices in the white space? Don't answer that you haven't the time to notice the white space. Do you ever find yourself daydreaming? When you do, you're visiting that white space. The question is: Do you recognize your ability to bring those daydreams to fruition?

Look around you. Do you find yourself envying what others accomplish? Perhaps you can learn from their example. All they have done is to act on their dreams - to recognize the value of their white space and put it into motion.

So - what's missing in your life? Why not try filling in the blanks - the white spaces - with the achievement of your dreams? Maybe a legal pad and pencil can help. Try making a list of every dream you've ever had. Write them all down, all of them. When you finish, place an asterisk next to the five you would most like to accomplish or experience.

Finally, make those five items the "black dots" upon which you will focus until completed. Once identified, it becomes much easier to concentrate your attention on them. Opportunity knocks!

The History of Palm Springs California

by The Zwemmer Group

For hundreds of years the tree-lined land in the scenic Coachella Valley, known now as Palm Springs, offered a place for the Native American Indian tribe of the Cahuilla a place to escape the desert and live more comfortably near the hot mineral springs and cooler valley floor.  Palm Springs, California is still a place for flocks of tourists and celebrities to retreat from the many metropolises of busy cities and find solace, isolation, and relaxation. 

 

The Cahuilla Indians settled in the isolated Coachella Valley area and lived for over a thousand years in the sheltered land between the Santa Rosa Mountains to the south, the Little San Bernardino Mountains to the north, and the San Jacinto Mountains to the west.  Though still in the desert and exposed to extreme temperatures, the area offered scattered hot springs and mountain runoff which aided cultivation of fruits and vegetables, and cattle and horses.  With the introduction to white settlers in the 1800’s the Cahuilla population dwindled due to the exposure to small pox.   

 

White settlers took over the cultivation of the land now known as Palm Springs in the mid-1800’s and the area became an important stop for stagecoaches on their way to the lush lands of southern California.  The Southern Pacific Railroad completed its line from New Orleans to Los Angeles and the Pacific Ocean with a stop in Palm Springs allowing agriculturists to ship their crops to larger markets. 

 

By the turn of the 19th century, Palm Springs, California was discovered by tourists and rich socialites as a thriving resort area perfect for retreats and vacation living.  Resort hotels and other properties began expanding the Palm Springs Real Estate market.  Hollywood stars and the extremely wealthy began flocking to Palm Springs where world-class resorts catered to the high-class crowd. 

 

The city of Palm Springs was incorporated in 1938 and rapid Real Estate expansion flourished until World War II.  During the 1940’s Palm Springs experienced a reduction in resident growth and visitation, but was soon on the increase again after the war. 

 

The attraction of the Palm Springs isolated resort area continued to attract famous celebrities and the wealthy who began building homes and making Palm Springs Real Estate a key market.  Recreation abounded with the introduction of golf courses in the 40’s and 50’s, and soon Palm Springs became known as the “Golf Capital of the World”.  

 

Now Palm Springs Real Estate boasts over 80 golf courses and resort hotels continue to expand and prosper.  Palm trees finger the sky and quality homes continue to expand.  Palm Springs Real Estate prices are still among the lowest in California making it an ideal and affordable place to purchase new homes, retirement homes, vacation homes, or even relocate to the Palm Springs area. 

 

Palm Springs offers many options for residents and visitors to relax and enjoy the stable climate and luxurious amenities.  The booming Palm Springs Real Estate market prospers as an affordable location for retirement or just living in a thriving and growing community.  There’s no better time to check out the Palm Springs on your next vacation.

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