Archive for August, 2009

How to Get a Fair Appraisal on Your Palm Springs Home

Monday, August 31st, 2009

Are you buying or selling a home in the Palm Springs area? Here are some tips on how to get a fair appraisal on that home.

1. Do not blindly trust the person who comes out to appraise your home.

Ultimately, it’s up to you to make sure your Palm Springs home is not valued below your sale price or loan limit. Many banks have recently been put under scrutiny for pressuring appraisers to inflate property values. As a result, banks are now required to work with independent appraisers in an effort to stop buyers from overpaying. However, some appraisal-management companies hire employees who get the job done quickly and cheaply. You want to have an appraiser who knows the area best and takes their time to do a quality inspection.

Photo by Karol

Photo by Karol

2. Prepare your home the same way as you would for an open house.

Remember, it’s the appraiser’s job to look at your house through the eyes of a buyer. Keeping that in mind, take a step back and see if your house has that curb appeal to attract buyers, and tidy up inside so it is presentable.

3. Do your research.

A main factor in your house’s appraisal is the recent sales prices for houses comparable to yours. Appraisers may not know if there are any unusual circumstances behind those numbers however, so it’s important to investigate yourself and see if you can provide additional information. Ask your neighbors about the circumstances of the recent sales. Also, ask a Palm Springs Realtor to help you identify the latest comparable sales in your neighborhood.

4. Write a “house resume” to give to the appraiser.

Appraisers are busy and usually on a time schedule, so they may overlook some of the best features your home has to offer. Before he begins his inspection, hand him some information on its best characteristics, including:

  • any recent upgrades (new windows, any custom work)
  • property perks (views and landscaping)
  • neighborhood benefits (schools, shopping, public transport)

5. Follow up and double check the report for any errors.

Lenders are required to give you a copy of the finished report. Make sure you request a copy, check for errors and make sure comments accurately describe your property. If you do happen to find a mistake, contact the appraiser directly and politely ask him to recheck his work. If he is not willing, file your complaint with the California real estate appraisal board. While your lender cannot meddle with the appraisal directly, it’s worth letting them know about your complaint as well.

Interested in buying or selling a home in the Palm Springs or Coachella Valley area? Contact Patrick Stewart Properties today.

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Posted in Idyllwild, Mortgage News, Palm Springs Real Estate, Real Estate News | No Comments »

Join us for the AIDS Walk in Palm Springs, California!

Friday, August 28th, 2009

07Come on down to Ruth Hardy Park in Palm Springs on Saturday October 31, 2009 and join us for the AIDS Walk! We will be strapping on our running shoes and heading down to the park to show our support for the annual AIDS Walk hosted by the Desert AIDS Project.

Everyone is invited and encouraged to wear Halloween costumes. Bring your friends, family and leashed pets with you for a 2 mile stroll through the famous Movie Colony! The Movie Colony is a neighborhood in Palm Springs, California, and became well-known after several famous movie stars bought homes there between the 1930s and 1960s. Some famous movie stars who called this area home include Cary Grant, Jack Benny, Dinah Shore, Al Jolson and Marilyn Monroe.

No minimum distance is required to participate, so don’t worry about the length. After the walk there will be lunch and entertainment for everyone. Registration for the event begins at 7:30 AM and the walk starts and 9:30 AM. There will be tons of family-friendly activities the day of the event, such as face painting, clowns, playgrounds and cartoon character appearances!

If walking is not your thing, you may be interested in volunteering for the event. Help make the Desert AIDS Walk safe and fun for everyone by welcoming participants, helping with the registration process, and setting up water stations. Water stations are being set up this year instead of distributing water bottles in an attempt to reduce plastic. Additionally, recycling bins will be located along the walk route.

Have a large group of coworkers or friends that all want to walk together? Form an AIDS Walk Team! It’s a great way to build relationships, show support for those fighting HIV/AIDS, as well as an opportunity to walk in the memory of loved ones.

For more information, please visit http://www.desertaidsproject.org/aidswalk. Hope to see you there!

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Posted in Palm Springs, Vacations | No Comments »

Everything You Want to Know When Moving to Palm Springs

Monday, August 24th, 2009

Sunrise at the Tramway

Sunrise at the Tramway, photo by bossco

Are you thinking about moving to the Palm Springs, California area? Palm Springs is a charming city with many unique characteristics. It has beautiful weather year-round and plenty of things to do at night and during the weekend for young couples and families alike.

A variety of fun activities in Palm Springs including golf, horseback riding, hiking, shopping and fine-dining ensure entertainment for all ages. During the summer, residents and tourists love to keep cool at Knott’s Soak City, a water park offering 18 slides and a giant wave pool. If you’re looking to stay indoors for the day, don’t miss cultural attractions such as the Palm Springs Art Museum or the Palm Canyon Theatre.

If it’s adventure you crave, you can’t miss the Palm Springs Aerial Tramway. It is the largest rotating aerial tramway in the world and is one of the biggest attractions in the Palm Springs area. Opened in September 1963, the tramway begins at the Valley Station and passes up North America’s steepest mountain face on its way to the Mountain Station at 8,516 feet above sea level.

The town is a popular destination for tourists, so it sees population fluctuations throughout the year. Investing in a vacation home can prove to be quite profitable as you can rent it out to tourists during peak tourism times of the year. Another distinguishing characteristic of Palm Springs is its gay and lesbian population, which is seven times the national average. Same sex couples seeking a welcoming and friendly place to live will find just that in Palm Springs, California.

For more information about Palm Springs and the surrounding areas, contact Patrick Stewart Properties today.

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Fed Will Not Raise the Current Low Interest Rates

Wednesday, August 12th, 2009

Your Palm Springs Realtors here, dropping by to give you the latest dish on what’s happening across the country in the real estate market today.

(photo by jenn_jenn)

(photo by jenn_jenn)

With the economy seemingly on its way up, Federal Reserve policymakers will be reviewing consumer lending programs to see if they should be extended. Fed Chairman Ben Bernanke along with his colleagues began a meeting Tuesday afternoon that will continue for two days. During this time, they will sort through economic data and information to determine how business and consumers are holding up financially nationwide.

While some unwanted changes may occur during the remainder of this recession, some policies are to remain in effect for an extended amount of time. The Fed is predicted to hold an important bank lending rate at its record low, near zero. Additionally, the central bank is expected to renew an agreement to hold the rate at its current rate as well. The average interest rate range is predicted to be between zero and 0.25 percent through the rest of this year.

This rate is being implemented with the rationale that extremely low lending will urge Americans to spend more, which would in turn support the economy. Other programs will be reviewed on a case by case basis and decisions will be made on whether or not the programs will continue, and for how long.

Interested in buying or selling property in the Palm Springs area? Contact Patrick Stewart Properties today.

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