Short Sales in the Inland Empire; Price Points are rising.. I have been watching the numbers, walking the homes, studying the comps and exactly what I felt would happen this year is indeed happening. The high end golf course communities and custom homes are seeing Short Sales and REO's. This is a new phenomenoa for my area of the Inland Empire..Palm Springs, Palm Desert, La Quinta and land parcels in the Eastern Coachella Valley.

Many of the properties are builder/developer owned. They managed to hang on for longer than the lower/mid price ranges, but now have decided to short sale their homes and take the credit damage and losses. Consequently, sales in the upper price ranges have climbed this season!

I closed a deal 2 weeks ago on a golf course property in La Quinta that sold for $1,495,000 without it's upgrades in 2005. We bought it for $850,000! Interesting how once the comparables hit a particular spot..and it appears to be the 60cents/on the original sales dollar that does it, there are quick sales and even multiple offers. Same as in the low and mid price ranges.

If you're looking for a great deal..hang in there with a Short Sale..even in the luxury home price ranges!

Kimberley Kelly, SFR, Land, Ranches & Residential

760-285-3578 [email protected]