Plainly stated, there are some great buys in the desert right now. If you like Mid-Century Modern or Old Spanish architecture, have considered a second home or permanent move to the Palm Springs/Palm Desert area, you should have an eye on the market.
The desert is a microcosm of the overall real estate market where some areas have been hammered while others have maintained a respectable amount of their former value attained at the height of the buying frenzy. Short Sales and REO’s are abundant and have forced equity sellers to either compete on price or sit out. Of course there are a slough of investors and all cash buyers creating fierce competition for the best properties.
A couple of good examples of the decent buys currently active include: 520 E. Desert Holly Circle and 675 E. Racquet Club Drive. Both are in Racquet Club Estates, Alexander Mid-Century Moderns built in 1959 and are Short Sales listed under $300K (Racquet Club Drive sold for $595K in early ’06).
If you’re a “project” oriented buyer, 435 E. Chuckwalla Road is a major fixer on a walled 10,454 sf lot listed at 139,900.00 and located just east of N. Indian Canyon Drive and old Palm Springs, walking distance to shops and restaurants. The home is an REO, was built in 1937 and could have great potential.
On the other end of the spectrum are properties like 999 N. Rose Avenue, a turn-key 1600 sf 3b/2b in the Vista Las Palmas section of Palm Springs. Meticulously restored during 2010 with emphasis on staying as true as possible to the original design, listed currently at $797,500.00.
In the 1950′s “Las Palmas Estates” was one of the first Alexander Company’s, Palmer and Krisel designed post and beam (Mid-Century Modern) subdivisions. This immaculate neighborhood and Rose Avenue in particular are highly desirable contributing to relatively stable property values and higher price per square foot (ppsf). For more information about modern architecture and historic neighborhoods in Palm Springs and the entire Coachella Valley visit the Palm Springs Modern Committee website.
Lastly, and whereas I do love me some Mid-Century, there are some amazing pre MCM properties as well and being that we have moved to that far side of the spectrum I feel compelled to include 1145 E San Jacinto Way in Old Palm Springs. As my 11-year old son would say, “this place is beast!” Originally built in 1934 this real adobe Spanish compound has been fully restored and was once owned by Betty Grable and Harry James. The upgrades and amenities are substantial, 3,000 sf, 4b/4b and currently listed at $842K. This is definitely one of my favorite houses in the desert.
For additional information, photos or to schedule a tour of these or other properties, email your request to info@UniqueLAHomes.com or call us at (310) 750-5751.
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Lists and other information are generated by Robert Dixon, REALTOR® at RE/MAX Palos Verdes Realty, DRE License #01828273. Content of this or any other post is presumed to be accurate but not guaranteed.