AGENT MLS HOME FINDER

The Palm Springs real estate market is being boosted primarily by the government actions taken to counteract the current economic downturn. According to an article published on November 6, 2009 in the Desert Sun, “Congress sweetened the deal for house-hunters on Thursday, extending the deadline beyond Nov. 30 for first-time homebuyers to collect up to $8,000 and beefing up the tax credit pool to include a $6,500 credit for owners of existing homes who are buying a new home. That incentive is kicking in at an opportune time in the Coachella Valley, real estate professionals said Thursday. This is the beginning of the buying season. With the inventory of existing Multiple Listing Service homes for sale in the Coachella Valley at the lowest it’s been since December 2005, Greg Berkemer, executive vice president of the California Desert Association of Realtors, said he expects sales activity will be brisk and competitive.”

Palm Springs homes for sale are not as common as they were in recent months, according to another article published in the Desert Sun on November 5, 2009. According to this piece, written by John Hussar, “The inventory of existing homes for sale in the Coachella Valley is the lowest since December 2005 as home sales rose 1.2 percent in September over September 2008, the California Desert Association of Realtors reported today. The median price was $159,810 in September, down from $199,810 in September 2008. Prices dropped 20 percent in September over the same period a year ago. ‘The desert median price for a single family home is now below the national median for the first time in several years when including sales in the high desert areas,’ said Greg Berkemer, executive director of the California Desert Association of Realtors.”

Real estate in Palm Springs has been selling better as well, according to an article published on November 5, 2009 by News Channel 3 KESQ. The article found that “The California Desert Association of Realtors reported the number of existing homes for sale in the Coachella Valley is at its lowest level since December of 2005. That news comes as the number of homes sold rose 1.5% in September, versus September of last year.”