Bruce Blomgren - Luxury Desert Real Estate Newsletter

click here to view this message in a web browser Monday, September 17, 2012

Valued Friends & Clients,
Normally by mid-September the hottest of summer days are past. But, it looks like the hot weather will continue for the next couple of weeks. The humidity has been high this summer, but it is hopefully behind us. We are all looking forward to the upcoming season! There has been a slow, steady amount of high-end sales activity during July and August. There were 46 homes in the desert that sold above $1 Million during July and August, with an average sales price of $1,442,543. Last year during the same time, there were 45 homes sold above $1 Million, with an average price of $1,528,518. So, the number of sales were about the same, but the average price was down about 5.6% this year. This upcoming season will be very interesting, in regards to high-end home sales. There are still many sellers who are serious about selling, and are willing to price aggressively. The supply of bank owned property and short sellers in the high end has been greatly reduced, and inventory has stabilized. There will be many people who will not make a buying decision until after the November elections, and then there is the debt ceiling to be dealt with right after that. As we get into January, some of the important issues will be tackled, and hopefully there will be enough pent up demand to give our high-end market a boost. The next 90 days should be a great time to buy real estate in the desert! This month I have included the following items that you might find interesting: • This is a very accurate article from The Wall Street Journal, describing how the housing market is improving, but not in every area or every price range... Read more • Following the above article, the San Francisco Business Times reports that the luxury home market in SF is ‘Red hot’... Read more • Windermere Real Estate has expanded into Mexico, opening an office in Cabo San Lucas. This will enhance my contacts south of the border, as well as enhance the marketing into the US thru the Windermere affiliation... Read more • On a local level, Palm Desert based Renova Solar Corp., is the 1st company to be certified by the North American Board of Certified Energy Practitioners... Read more • The 10 Most Expensive Desert Homes Sold in August 2012, according to the Desert Area MLS: This month’s list ranges from $1,300,000 for homes at

Bruce's Website Active Listings Search the MLS Clubs & Communities Meet Bruce Meet Bruce's Team For Buyers For Sellers Real Estate Resources DesertHomeTrader.com Past Newsletters Contact Bruce

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Bruce Blomgren - Luxury Desert Real Estate Newsletter

Indian Wells CC and Bighorn Golf Club, to $2,550,000 for a home at The Hideaway... See the complete list • Mortgage Rates from Stearns Lending as of 9/15/2012... Read More Don’t forget about my recent move into social media. I can be found on Facebook, LinkedIn, Tweeter, YouTube and I have a Blog. Follow, Link, Tweet, Friend or whatever you do! As always, I hope you find this information to be interesting. All comments and feedback are welcomed. Sincerely, Bruce "Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing." - Denis Waitley "Adversity does not build character, it reveals it." - James Lane Allen Follow us: Facebook Business Page LinkedIn Desert Real Estate Blog

Housing on Mend, but Full Recovery Is Far Off
The Wall Street Journal Home prices during the first half of 2012 posted their strongest gains in six years, the clearest sign that more U.S. housing markets have hit bottom. But the housing market remains far from normal. Hitting a bottom shouldn't be confused with a full-on recovery, which looks a ways off...

'Red Hot' Bay Area Luxury Home Market Sees Biggest Jump Since 2006
San Francisco Business Times Don't be surprised if you hear your real estate agent and mortgage lender suddenly belt out a rendition of "Happy Days are Here Again." Luxury home values in the Bay Area and other key California cities are chalking up their biggest gains since the housing boom went bust in the last decade. Bay Area luxury home values soared 6.6 percent in the second quarter, the biggest year-over-year gain since the first quarter of 2006...

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Windermere's Mexico Debut will Ease Safety Fears
Inman News Windermere Real Estate is setting up shop south of the border, a move that will go a long way toward easing buyers' fears about safety in Mexico's popular resort areas. Geoff Wood, CEO of Seattle-based Windermere Real Estate, the largest real estate company in the western United States with more than 300 offices and 7,000 agents in nine states, said that the company will open its first international franchise office in Mexico...

A Bright Idea in Solar
The Desert Sun Vincent Battaglia is eagerly awaiting former President Bill Clinton's keynote speech this week at Solar Power

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Bruce Blomgren - Luxury Desert Real Estate Newsletter

International, a convention expected to draw thousands of solar industry experts to Orlando. Better yet, the CEO and president of Palm Desert-based Renova Solar Corp. said he is looking forward to having his company singled out as the first in North America to earn a new industry accreditation...

10 Most Expensive Desert Homes Sold in the First Half of 2012
Desert Area MLS The 10 Most Expensive Desert Homes Sold in August 2012, according to the Desert Area MLS: This month’s list ranges from $1,300,000 for homes at Indian Wells CC and Bighorn Golf Club, to $2,550,000 for a home at The Hideaway...

Mortgage Interest Rates as of September 15, 2012
Stearns Lending The following is a breakdown of home mortgage rates as of September 15, 2012. These rates are for several of the most preferred loan programs from one of Bruce's preferred lenders...

78205 Monte Sereno Circle 73920 Desert Bloom Trail 79360 Stonegate

Monte Sereno Estates, IW The Reserve, PD The Estancias, LQ

$2,485,000 $1,295,000 $1,295,000

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Bruce Blomgren - Luxury Desert Real Estate Newsletter 72116 Clancy Lane Clancy Lane, Rancho Mirage Priced at: $1,895,000

Newer custom home on Clancy Lane on a .64-acre lot! This desert Contemporary design features 4 Bedrooms plus a separate bonus room being used as an exercise room. The main house features the modern amenities wanted by today's buyer; marble flooring, granite counter tops, built-ins, highvolume ceilings. There are 100+ solar panels on the roof, significantly reducing the electric usage. A detached casita/guest house has 2-bedrooms, living room, kitchenette, bath and a 2-car attached garage. There is a built-in salt water aquarium that is included. This home is perfect for the car enthusiast and/or the RV owner. There is a 3-car garage attached to the main house and a 2-car garage attached to the casita. There is gated parking for 2 RV's with clean-outs and electric service. Outdoor living includes custom pool & spa, outdoor cooking, west mountain views and a bonus room that could be used as a pool/entertainment room. This type of home doesn't come along very often!

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