Mortgage rates have once again hit record lows in an effort to spur real estate sales nationwide. Poor reports on job creation and high unemployment figures are spurring the lowering of rates, meant to improve the housing sector of our economy. This is good news for people looking to purchase La Quinta homes. 

The current average rate, nationally, for a 30-year fixed rate mortgage is 4.44%, a year ago it was 5.29%. A 15-year fixed rate mortgage is averaging 3.92%, down from 4.68% a year ago. A five year adjustable rate mortgage is averaging 3.56%, down from 4.56% a year ago. Here at Desert Dreaming Realty, we can help you find the right mortgage broker to work with you.

Low mortgage rates appear to be doing the job of increasing home sales. While La Quinta real estate sales are in no way booming, they are improving. The National Association of Realtors (NAR) tracks 155 metro areas across the country and has seen improvements in real estate sales in more than 60% of these areas.

The historically low rates are creating an ideal borrowing climate for those who have a steady source of income, the money for a down payment and good credit. It is a prime buyers market when it comes to La Quinta real estate. The low home values and low mortgage rates combine to make it more affordable to buy a new home in La Quinta than it has been in years.

When it comes to real estate there is good news with the bad news in La Quinta, CA. Reports came out this past week that showed a significant drop in national real estate sales volume. The increase in sales volume due to home buyer tax credits was bound to be followed by a drop, as most surges are. The tax credit was in full swing during the summer of 2009 and packed a bigger punch when it was extended and expanded to include existing home owners along with new home buyers nationally and in the La Quinta real estate market.

The last extension of the home buyer tax credit expired at the end of June, with some leeway for those who were already under contract but unable to close yet. There is no more tax credit revving up La Quinta real estate sales, therefore it can be no huge surprise that the month following its expiration took a dip. The recession has brought about a climate of caution, aided by the nation’s employment picture.

The good news when it comes to real estate is that, on average, home values have increased, if ever so slightly. While sales may have been down in July, prices appear to be stabilizing. The dropping mortgage rates and increased inventory make it an ideal time to look at buying a La Quinta home, for those who can qualify for a mortgage.

In a nutshell, real estate sales figures may not appear great but prices appear to be stabilizing. Once a prettier picture is painted as far as employment goes then we will be on a more stable road to recovery.

Click here for recent article on the state of real estate from Realtor.org.

Looking at homes for sale in La Quinta or Palm Springs, CA? The Palm Springs area is highlighted on The Travel Channel.  Whether searching to find your dream home in the area or golf property in a La Quinta golf community, watching Samantha Brown’s Great Weekends show will make you even more interested in closing a deal. The show provides a wonderful overview of the area as Samantha does some California dreamin’ tour of the countryside in the Ace Hotel’s Magic Bus.

They also travel to go into the “wild” outside the city to do some desert dune buggy riding. Finding your home in Palm Springs opens the door to all these adventures. In fact, one can make your home environmentally friendly. Coachella Valley takes advantage of the windy conditions; winds potentially get up to 70 mph, by capturing electricity with huge wind turbines. Over 4,000 turbines provide the biggest source of the electricity for the area, as California was the first state to put in wind energy with turbines on wind farms.

For more information about Palm Desert, Palm Springs or La Quinta homes, please use our complimentary online La Quinta real estate search or contact Susan Eidler at Desert Dreaming Realty. 

There are many improvements that a person can make to a La Quinta home, many offering more of a return than others. There are some home improvements that can actually hurt a home’s investment potential. Some improvements limit the number of future potential home buyers due to the uniqueness of the improvement. For example, not everyone wants a home spa, sauna, full workout room, etc. In essence it is important to make sure that La Quinta home improvements and additions be well-planned and then well-executed.

Historically, the best improvements are kitchens, bathrooms, and decks. These renovations and/or additions offer the best return for the dollars spent, being that they are completed reasonably and not over-the-top. The simpler the project, the better with homes for sale in La Quinta, CA.

Most people want to get their money back when they sell a home, but many will not. One key element to remember is to keep your La Quinta home in line with the neighborhood or La Quinta golf community. If every home on your block is similar and you add a huge garage, fancy finishes and ornate touches that do not exist in your neighborhood you probably won’t get your money back. Of course, if you don’t care about the return that you will get on your La Quinta home then you can feel free to throw caution to the wind.

Click here to read a recent article from Main Street about potential remodel pitfalls.

Financing for La Quinta real estate may be tougher these days, but it is not impossible. When it comes to buying a new La Quinta home it is more important than ever to be prepared when qualifying for a new loan. Times have changed. The days of securing no-doc loans or loans with no money down are in the past. To get a loan today in the Palm Springs, Palm Desert and La Quinta areas, it is commonplace to put a minimum of 20% down. If you have the down payment money for a loan on a new home, that is the first step.

Qualifying for a mortgage involves stating a steady source of income, a good credit history, and a reasonable amount of debt. Similarly what will work against you is poor credit, unemployment, no down payment funds and lying on a loan application. In addition if you are self-employed you should expect to jump through some pretty big hoops to get a mortgage loan to find a home for sale in La Quinta golf communities.

If you want to buy a La Quinta home or golf property do not despair. If buying a home is in your budget you will be able to work it out. If its not in your budget at the moment it is probably best that you wait until it is.

When tuning into Samantha Brown’s Great Weekends on the Travel Channel it was interesting to see the Palm Springs area covered. Highlighting why it is so attractive and providing a great overview of the area, it draws you into looking at homes for sale in the Palm Springs or La Quinta, California markets. At Desert Dreaming Realty we can help you find what you are looking to find whether it is a La Quinta golf property or a new home in other communities.

Samantha really shows the wonderful lifestyle while staying at the Ace Hotel, where the style is retro; she starts with cocktails by the pool at the hotel. Living in a Palm Springs home will remind many of the days gone by and it is a tribute to the rat pack who ruled Palm Springs in the 50s and 60s. Living and calling home anywhere you would search for and buy a home in the La Quinta real estate market is an outstanding decision. Owning a home in the Palm Springs area brings multiple nostalgic moments. She captures this on the Travel Channel show when visiting Sinatra’s favorite – Melvyn’s hotel and restaurant. Here there are a couple guys who do impressions of Sinatra and the rat pack while capturing and revisiting the style of the times. For more information about Palm Desert, Palm Springs or La Quinta homes, please use our complimentary online La Quinta real estate search or contact Susan Eidler at Desert Dreaming Realty. 

If you are buying a La Quinta, CA home there are some important things to think about. While there are people out there who do not believe that a person’s primary residence should be looked at as an investment, the reality is that a La Quinta home is probably one of the most expensive purchases in a person’s lifetime and, as such, is a very important investment. That being said, buying La Quinta real estate is a big deal and should be approached with thought and caution.

There are two main factors when buying a home for sale in the La Quinta real estate market, one being financial, the other being physical. Financially, it is of the utmost importance to buy within your means. Know your budget or what you can afford now, and do not go beyond it. Before even looking for a La Quinta golf property or home, go through the pre-qualification process of acquiring a mortgage. Lastly, remember that you are your own best advocate in Palm Springs, Palm Desert and La Quinta, CA. Do your research and know what expenses will be coming at you upon closing so that you are not caught off guard and forking over extra, unexpected money that you cannot afford.

When it comes to the physical attributes of your house hunting, it is a good idea to look at everything available in your price range in the La Quinta area that you want to move to. Realize that there is a good chance that you will be attracted to some La Quinta real estate that is above your price range, but remember to be realistic, you need to stay within your budget.

When it comes to La Quinta real estate it is a great time to be a buyer. Contact Susan Eidler with Desert Dreaming Realty, which has a solid reputation, to see what you can find.

Click here to read a recent article from Investopedia titled “10 Worst First-Time Homebuyer Mistakes 2010”.

When it comes to La Quinta real estate it is easy to wonder what’s going on. One report is gloomy while another is bright. The reality is that La Quinta, CA real estate is improving, how much so being localized to any given area.

Before the recession hit, real estate markets nationwide were gaining at unrealistic paces, hence the housing boom and subsequent bust. It is important to remember that the modest improvements being seen in La Quinta are more realistic and if huge jumps were being made we might return to the same boat.

Overall La Quinta home prices have started a modest recovery, with slight increases across the board, but the Palm Springs and La Quinta areas hardest hit by foreclosures are where values have yet to show much of a rebound. The historically low mortgage rates are increasing La Quinta mortgage applications as well, adding to the real estate sales volume.

While overall, unemployment levels will continue to affect the economy as a whole, it is impossible not to look at La Quinta real estate data and see an improvement. Small steps are definitely being made in the right direction with homes for sale in the La Quinta real estate market.

Click here to read a recent article from Realty Times regarding the current state of real estate.

Borrowing money in La Quinta for luxury real estate just got cheaper. Typically money borrowed for luxury real estate is considered a jumbo loan, a loan of more than $729,750. Jumbo loans traditionally hold higher interest rates and are not backed by government sponsored agencies. The current interest rate for a jumbo loan is 5.48%, rivaling those of traditional 30-year fixed rate mortgages for La Quinta, CA.

The low rates for jumbo loans make purchasing luxury La Quinta real estate much more affordable than in recent years. Currently luxury home values in La Quinta are lower than they have been. Combine that with the low interest rates and thousands, if not hundreds of thousands of dollars can be saved over the lifetime of a loan and adding to the affordability level.

The housing recovery has focused on the lower end of real estate, through tax credits and low mortgage rates. The new low rates for jumbo mortgages should give the higher end a well-needed boost. The La Quinta luxury real estate market is certain to get a lift from the newly reduced interest rates, luring both buyers and lenders.

Click here to read a recent article from the Wall Street Journal on low jumbo rates.

Once you have found some listings of interest on Desert Dreaming Realty, we will help you get into you dream home for sale in La Quinta, CA. One of the best places to search for amazing La Quinta golf property is the diverse PGA WEST golf courses that make up the highly-desired La Quinta golf communities. Nowhere is this truer than the PGA WEST Arnold Palmer Private Course, which has some of the most natural tests of golf in the world.

Arnold Palmer created many opportunities for heroics by sculpting five par fives and five par threes into the course using his trademark gentle curves and rounded bunkers. The par 5 finishing 18th hole is one of the most challenging at 532 yards where going for the green in two means taking a chance over the rock-lined lake. Finding a La Quinta home along this Arnold Palmer Private Course is a great investment. During the Bob Hope Chrysler Classic of 1994, the 9th hole was ranked the hardest Hole on the PGA Tour.

If you are looking for homes for sale in La Quinta, Desert Dreaming Realty can help you. For more information about Palm Desert, Palm Springs or La Quinta homes, please use our complimentary online La Quinta real estate search or contact Susan Eidler at Desert Dreaming Realty.