It's possible that we may never see the likes of this type of buying opportunity in our lifetimes again.
La Quinta, California (PRWEB) November 30, 2011
Brad Schmett, Broker Associate with Luxury Homes by Keller Williams and real estate expert, has announced today that "snowbirds" from the US and Canada are arriving in Palm Springs, CA in record numbers and buying real estate in Palm Springs and neighboring La Quinta, CA at an unprecedented pace. Favorable economic factors on both sides of the border, coupled with the start of "high season", has combined to make now the most opportune time for snowbirds to buy Palm Springs real estate.
Brad Schmett, an expert in both Palm Springs real estate and La Quinta, CA real estate, specializes in helping buyers purchase vacation properties and second homes in the Palm Springs, CA area. Through his many years in the real estate industry, Schmett has earned a reputation for providing the highest level of service to his clients.
According to Schmett, “January 1 marks the launch of our annual “high season” here in Palm Springs and we’re already seeing far more American and Canadian snowbirds arrive, to buy vacation properties and second homes, than what we’re accustomed to seeing 30 days prior to the start of our high season.”
A weak Southern California real estate market has made real estate in Palm Springs a prime target for both savvy seasonal residents and real estate investors looking to take advantage of market conditions. “A lot of my clients are seasonal residents with a fair amount of cash to invest or they want to take advantage of historically low interest rates. They may have been renters in previous years, but now they're buying real estate in the Palm Springs area. They look at their purchase as a great investment – and they get the benefit of enjoying our near perfect winter weather for several months of the year,” says Schmett.
Schmett states, “A unique combination of economic and local real estate market conditions has created a near “perfect storm-like” scenario that has set the stage for an incredible residential real estate buying opportunity in Palm Springs, La Quinta and the surrounding desert cities.”
These factors include the lowest prices in over a decade for Palm Springs real estate and La Quinta homes for sale, as well as a higher than normal level of attractive property inventory. Home buyers and investors now have more options than ever before in the Palm Springs real estate market. Combined with historic lows on mortgage interest rates, these factors make for more than simply an “appealing” market for buyers – it creates a situation rarely seen before.
Schmett urges, “It's possible that we may never see the likes of this type of buying opportunity in our lifetimes again. As a general rule, prices have been rolled-back to 1998-2002 price levels and there is an abundance of quality homes and condos available. On top of that, buyers who want to create leverage by borrowing can take advantage of historically low interest rates,” Schmett states.
Canadian snowbirds are snatching up available Palm Springs homes for sale at a frenzied pace. The exchange rate for Canadian buyers in particular is extremely attractive. Brad Schmett notes, “For the past few years, astute Canadian buyers have been the beneficiaries of our “buyer’s market”. With market conditions much more opportune than in past years, I feel this Canadian buying frenzy will continue to grow.”
To find out more about investing in Palm Springs real estate visit http://www.LaQuintaRealEstateInfo.com.
About Luxury Homes by Keller Williams: Luxury Homes by Keller Williams – La Quinta, is an exclusive, elite and sophisticated group of real estate consultants raising the bar for service in the upper-tier La Quinta and Palm Springs area residential real estate market.