As we begin the new year there has never been a better time to invest in the Coachella Valley areas such as Palm Springs, Desert Hot Springs, Palm Desert, Rancho Mirage, Thousand Palms and Cathedral City. The desert real estate market is booming and here is why:
- Even though the Coachella Valley prices are rising there is still a large positive gap in affordability compared to Greater Southern California Areas. When compared to Los Angeles, Orange County and San Diego, desert properties are among the most affordable.
- Large Baby Boom Population retirement with stable sources of income insures solid income base. Every few seconds someone turns 65 years old. Desert living is perfect choice for seniors with the warm winters, abundant shopping, casino gaming and vibrant communities.
- Palm Springs demographics is swinging younger and family oriented. Schools both Public and Private are substantial. With all of our arts, film and music festivals many younger folks are discovering just how much the area has going for it. Throw in venues like our Wet N Wild water park, the BNP Paribas Open Tennis Tournement and over 140 top golf courses and more young families are moving here.
- Interest Rates are slowly rising however in the long term they will be higher. Don't miss out on these still historically low rates while they last. As the economy continues to grow, the rates will be moving up.
- Rent Buying model still show Buying to be more beneficial. In recent years rental rates have increased approximately 8% each year. This trend will likely to continue as the area is growing and there is a great need for single family rental homes.
- Great Loan programs for first time buyers, some as low as ZERO Down. For example CalHFA offers down payment assistant progams and low interest rate mortgage programs. There are many more programs to help you get started in real estate investing.
We can help you find the one right for you.
- Education a priority creating College level opportunities in the Medical and Bio Tech industries. And the area is home to the bergeoning cannabis industry causing the area to built out in every direction.
Every indicator points towards more growth, wealth and opportunities in the warm embrace of the Coachella Valley. That is why NOW is the TIME to Invest in the Palm Springs area!