Palm Springs Real Estate: Scarce and Spendy

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Desert Property Investor this morning expressed concern for the scarcity (and rising cost) of real estate in Palm Springs, CA.

After news of market trends for Palm Springs properties from Sheri Dettman and Associates, Desert Property Investor highly recommends enlisting a buyer's agent for anyone interested in purchasing investment property, or signature vacation homes in the Palm Springs area.

The editor of Desert Property Investor relied on Ms. Dettman's data as part of an overall assessment of the Palm Springs housing market, citing particularly keen competition for houses in the $500,000 to $750,000 price range.

Desert Property agrees with Ms. Dettman: that busy agents by definition have their "finger on the pulse" of highly competitive market trends, and often see fluctuations developing before statistics are even quoted.

Low supply, and competition for quality homes has lately generated a "perfect storm" of sellers' market * characteristics, relative to real estate in the Palm Springs, California area.

A sellers’ market, in economics, when supply is far outstripped by demand, sellers can dictate their terms, or "write their own ticket" with respect to impending or ongoing business transactions.

Desert Property Investors agrees with data promulgated by Sheri Dettman and Associates, insisting that an extreme sellers' market currently exists with respect to Palm Springs real estate, and that potential investors would do well to enlist an experienced buyers' agent when seeking property in a highly competitive marketplace.

About Desert Property Investor:
Desert Property Investor evaluates opportunities, pitfalls, services, and legislation related to the investment in residential property in the California, Arizona and Nevada deserts.

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Desert Property Investor
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