Palm Desert Country Club Pool Home on Golf Course – No HOA’s - $220,000
I just listed a great Cosmetic Fixer home on The Palm Desert Country Club that is generating a lot of buzz so I thought it would be worth featuring it here.
The property is located at 76819 Oklahoma Ave, Palm Desert, Ca 92211
First time home buyers should jump on this opportunity and take advantage of the First Time Home Buyer Federal Tax credit of $8,000 before it expires on November 30, 2009. Since escrow must close before December 1, eligible buyers must select the right property and open escrow very soon. There are only 63 days from today to complete the entire process.
Since interest rates are at an historical low, this property would be a good investment property or a great alternative to paying rent
Buyers need to be aware that the golf course at the Palm Desert Country Club is now in bankruptcy and recently closed. This property backs to the golf course so buyers need to be comfortable with its unknown future. The list price takes this into account.
Here are some features:
- Solar heated Pool and Spa
- 3 Bedroom / 2 Baths
- Fantastic Mountain Views
- No HOA’s
- On the golf course
- Southern exposure
- Cathedral Ceilings
- Golf Course and Mountain Views
- Quiet neighborhood
- Double Garage
- Wet Bar
- Cosmetic Fixer – Just needs paint and carpets
- Not a short Sale or Foreclosure, but priced like one to sell quickly
- Covered patio
- Perfect for First Time Home Buyer Tax Credit
The real estate market in the Palm Desert Country Club has been VERY active in the last 6 months. Prices have dropped nearly 50% in the last 2 years and appear to have leveled off and have even been increasing.
Many buyers have taken advantage of the First Time Home Buyer Tax credit, several snowbirds have bought winter homes here and many investors have snapped up these well priced homes. 60% of the homes sold in the last 6 months have been foreclosures and currently there are only 3 foreclosures on the market, once again, evidence that there are far fewer foreclosures on the market than in the last few years.
The following is a recap of the market statistics for the last 6 months in the Palm Desert Country Club (as of 9-27-09):
25 Homes Actively listed from $100k - $399k
3 are foreclosures from $100k - $157k
4 are short sales from $105k - $295K
10 Contingent Status from $125k - $249k
1 is a foreclosure at $142k
8 are short sales from $125k - $249k
7 Pending from $99k - $351k
2 are foreclosures from $99k - $110k
1 is a short sale at $149k
37 Homes Sold in the last 6 months from $72k - $293k
22 were foreclosures from $72k - $293k
2 were short sales from $116k - $165k
The Palm Desert County Club has been one of the most active markets in the desert over the last 6 months. There is less than a 3 month inventory of available homes on the market. Anything less than a 6 month inventory is considered a Seller’s market.