Despite your preferred climate there are varying times of the year when its an optimal time to buy a house. However, with Palm Springs, now may be the best time in recent history. From a strictly analytical standpoint, there are only two times of the year that warrant such a distinction.
There are so many great reasons to search for and purchase a home in the spring.
This is the time of year the market is replenished with new inventory. Sellers' optimism is an all-time high and buyers are excited because of the many choices. One thing to keep in mind is that this is also when the competition is the toughest. Homes are sold and off the market in record-breaking time, and competition also drives up the prices. That's also why some say spring is the worst time to buy a home.
There are several factors to consider when deciding on when to buy a home. The basics include; time of year, current interest rates, which lenders have the best terms, and your personal financial situation. There are a lot of concerns to address and the questions seem never-ending. Fortunately you don't have to navigate the process alone, a good local agent has the answers and guidance you need.
Best Time of Year to Buy in Palm Springs, CA
The current housing trend in Palm Springs indicate now is a great time to consider purchasing a home. Just like the rest of the country, home values fell in Palm Springs as a result of the housing crash in 2008, but they are currently on the rise. For instance, in Joshua Tree, home values have more than doubled in the last five years. And the homes in Desert Hot Springs have gone up 80%.
A few of the contributing factors include a declining inventory. According to Zillow, the number of homes on the market has dropped about 10% in the last year in La Quinta, Palm Springs, Rancho Mirage, and other places in the region. The area is a well-known tourist attraction, which is also ideal for real estate investors.
The Best Places to Buy a Home in Palm Springs, CA
Apparently it's no exaggeration to say friendliness and openness describes what you'll receive in the Palm Springs area. So here is a list of the best places to live and enjoy life.
- Deepwell EStates is known for its colorful and long history. The residents enjoy plenty of social events. And it's also a great place for those who enjoy outdoor activities like cycling, jogging and walking their dog. Over the years many celebrities like Jerry Lewis, Liz Taylor, and Eva Gabor have spent time there.
- Vistas Las Palmas is full of restored Mid-Century homes. Some dating as far back as the 1950s. If you're looking to take advantage of the dry desert climate and beautiful mountains this is the place for you.
- The Mesa has a cool array of architectural homes styles with a gorgeous mountain backdrop. It's a charming neighborhood and a nature lover's dream. The Mesa is perfect if you're inspired by hillside living and narrow streets. It's the little slice of paradise that comes to mind when you think of desert living near the base of a mountain.
- El Rancho Vista Estates is almost like entering a time capsule. There are over 115 midcentury homes that have been faithfully restored to their original splendor. Making it one of the most alluring neighborhoods in the area. If you're looking for a place that offers plenty of fun in the sun and the good life, this could be your place.
- Oasis del Sol offers a tranquil and inviting atmosphere. Just like the refreshing of an oasis, the neighborhood is friendly and very quiet. The area is surrounded by mountain views and is on the east side of town.
4 Ways to Get a Great Deal On a Home in Palm Springs, CA
- Find a Great Palm Springs, CA Real Estate Agent: Partnering with a good local agent means not having to go it alone. There are a lot of decisions to make during the home buying process, an agent can help save you time by anticipating some of your concerns.
Learn More: What Does a Real Estate Agent do for a Buyer?
- Assess Your Needs and Lay Out Your Goals: Work with you agent to determine a few specifics, like the size of the house, acreage, location and price range. An added value of an experienced buyer's agent will help you uncover details you may have not considered.
Learn More: What to Look for When Buying a Home
- Find a Lender and Secure Financing: Your agent will help you evaluate and determine the best financing option for your current situation. Depending on the lender, the closing can take up to 30 to 45 days. So If you're on a fixed timeline, the agent may proactively notify a home inspector and appraisal specialist to expedite the process.
Learn More: A Step-by-Step Guide to the Home Loan Process
- Negotiate the Best Possible Price: After you find the perfect house in an awesome location, the agent will advise you on the proper amount to offer based on the asking price and perceived value. Upon acceptance, and after the inspection, your buyer's agent will negotiate to ensure that you get the best deal possible.
Learn More: How to Find a Buyer's Agent That's a Good Negotiator
Cleverpartners with local top-rated agents who will not only get you the best deal, they'll also help you with your home buyer rebate. There's no need to go it alone. Clever will connect you with a local agent so you can have all of your questions asked with no obligation. Contact us today.