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Tag: <span>golf course</span>
Year-Over-Year Price Increases and Lowest Inventory in History
The median price of Valley detached homes in March was $549,000, which is 27.3% above last year. The attached home median price in March was $345,000, up 15.4% over the last twelve months.
Prices are expected to continue moving higher by following the seasonal pattern of reaching highs in May before pulling back. Seven cities how have median price increases for detached homes over 20%, with two up more than 30%. It should also be noted that five cities have exceeded the historic price highs they made in the year 2006, with two more only fractional percentage points away.
The three-month average of total sales is now averaging 1,129 a month, which is 39% higher than last year. Due to seasonal forces, average could reach 1,200 units, or higher, over the next two months and sales staying in the high range.
Inventory continues to decline and as of this writing, there are 707 units for sale. That compares to 3,034 units a year ago. Continued high sales and lower inventory has again driven the “month of sales” ratio to new historic lows. It is now just 4/5 a month, or just a little over three weeks. A year ago, the ratio was 3.7 months. This lack of supply is causing bidding wars amongst the many home buyers and is the force driving home prices much higher.
If you are considering buying, the time is now. I see the current trend of appreciation continuing for the next few years.
If you are considering selling, now is a great time. Most homes sell within days. Don’t get left behind.
Put me to work for you! Please don’t hesitate to contact me for specifics.
Palm Valley Country Club, developed in 1983, is a private gated golf and tennis community. The 1,274 condominiums offer 14 different floor plans ranging in size from 936 to 2,489 square feet. The community offers single-level condos with fairway views of the two courses, Championship and Challenge. In addition, there are numerous buildings offering upper and lower level units surrounding the Challenge course.
If you love golf and tennis, then Palm Valley Country Club offers you a premier lifestyle club. Situated on lush tropical terrain centrally located in Palm Desert and just 10 miles from Palm Springs, Palm Valley Country Club redefines the private golf club experience. Blending time-honored traditions of golf with modern, upscale conveniences, the club boasts 36 magnificent holes of golf designed by Ted Robinson, Jr., and an array of golf, social and recreational amenities and personalized services and exclusive privileges that have earned it recognition among the finest private clubs in the Coachella Valley.
The masterful golf courses are just part of the experience. Between rounds, you can work on your game at the practice facilities, shop the Pro Shop for equipment or clothing, and enjoy the club’s bar, lounge and restaurant.
Palm Valley Country Club’s tennis and pickleball courts offer a variety of opportunities for social or competitive play in leagues, round-robins, tournaments, and inter-club events. Their talented USPTA-certified teaching professionals are available for private and group lessons for children and adults, and offer a Junior Tennis Academy for children ages 6-17.
Palm Valley Country Club is celebrated with its 100,000 square foot clubhouse, golf and tennis pro shop, men and women locker rooms with steam, sauna and jacuzzi, two restaurants and lounge, olympic size lap pool, state-of-the-art fitness center and a day spa/salon.
Whether you’re a passionate golfer or tennis player looking to improve your game or you simply want a place where you and your family can relax and enjoy the weekend, Palm Valley County Club offers you the lifestyle of your choice. It is no wonder it has received the designation of the ‘fun club’.
Home prices range from $250,000 to over $600,000. Monthly HOA is $725. Golf membership is separate.
Palm Valley Country Club is located off Country Club Drive, between Washington and Cook streets.
http://www.palmspringsvalleyhomes.com
Tip 1:
While living across the street from the fairways offers a homeowner additional privacy (no neighbor in front), it also provides a bird’s-eye-view to golfers – especially those wandering through your yard to retrieve balls. Choose your location within the golf community carefully. Homes along the right side, nearest to the tee box, are statistically at higher risk for wandering golfers searching for errant balls and the damage those balls can cause. You may want to play the course to help determine if the home you have your eye on is ideally located.
Tip 2:
I stress the importance to all homeowners interested in purchasing a home in a managed community to read the HOA documents thoroughly, it’s even more critical when considering a home on a golf course. Is netting prohibited? Are there rules against entering the course from your property?
Tips 3:
While golf participation throughout the country is stabilizing, and fewer courses are closing, keep in mind that it’s still a buyers’ market in many communities in this real estate niche. You are in the drivers’ seat, by and large, in negotiations.
Tip 4:
You don’t have to be a golfer to enjoy golf course living. In fact, it’s estimated that only about a quarter of residents who live on or near courses play the game. They purchased the home to enjoy the scenic view, the enjoyment of not having a neighbor’s home facing theirs and the peaceful evenings.
Tip 5:
If you do play, you may want to restrict your search for a golf course home for sale to communities that offer other amenities as well, such as tennis courts, walking trails, swimming pools.
Thinking of selling your golf course home?
Realtor.com analyzed listings of homes for sale in 273 U.S. counties. They found that those listings that included the word “golf” took, on average, 75 days to sell. These homes eventually sold for 14 percent more than the median sale price for the area and nearly 30 percent more than the nationwide median home price.
Of course, all real estate is local and markets change so the “mileage” here in our area may vary. Feel free to reach out to me for a complimentary, no-obligation determination of your home’s likely market value.