Posts Tagged ‘patrick stewart properties’

Former Estate of Mary & Sonny Bono, Just Listed!

Thursday, January 27th, 2011

Timeless Architecture

Patrick-Stewart Properties is proud to list this Estate which presents timeless architecture and rich in Palm Springs history! This gated estate was once the home of Sonny Bono & Mary Bono and we believe a part of the original King Camp Gillette estate. The main house (Approx. 6648 sq.ft.) has 3 bedroom suites, an incredible and inviting family kitchen, formal dining room, formal living room and large family room that looks to the pool and the mountains. The property boasts a 2 bedroom 2 bath guest house with full kitchen, dining room and living room with rock fireplace and original hardwood floors (Approx 1599 sq.ft.) Another guest house on the property has an additional bedroom/bathroom and a large living area currently being used as a gym (Approx. 742 sq.ft.) Plenty of covered parking for 4 cars and enough room in the motor court for many more. Private North/South facing tennis court set amongst the trees and gardens on the 1.5 acre estate. Truly a timeless masterpiece. Dedicated People. Distinctive Spaces. Just take a look at this property!

This amazing property is located in the historic Mesa neighborhood. Today the Mesa is a unique and eclectic collection of architectural style producing a beautiful neighborhood nestled in an awe-inspiringetting. The diversity does not stop there. The individuals who occupy the homes are as unique as the architecture, with occupations and interest spanning every conceivable endeavor. There is one other unique attribute to the Mesa. It is truly a neighborhood of friendly residents, living close to the Garden of Eden on the East slops of the San Jacinto Mountains.

For more information about this property, please contact Patrick-Stewart Properties at (760) 325-9091. This Property is shown by appointment only.

Tags: , , , , ,
Posted in Luxury Real Estate, Mary Bono-Mack, Palm Springs, Palm Springs Real Estate, Real Estate News, Uncategorized, Vacations | No Comments »

Luxury Housing making a comeback

Monday, April 5th, 2010

psp_drftwd1

Sales of high end homes in Palm Spring and nationwide are making a big comeback after two years of double digit declines.

“We’re seeing a revival in the high-end housing market,” said Lawrence Yun, chief economist at the National Association of Realtors (NAR), who was quoted in the report featured on CNBC News. “It was so depressed, particularly last year, but it’s really improved. There’s much greater sales activity on upper end homes now.”

High-end homes are one of the few bright spots in the nationwide housing market, according to figures from the NAR.

In February this year, sales for homes priced at $1 million or more increased 38 percent nationwide from a year ago, according to the NAR. The Northeast is up 49 percent alone, while the West is up nearly 35 percent.

Lower interest rates, bank lending and consumer confidence are combining to fuel the comeback, according to the report.

“Rates are down for jumbo loans,” said David Adamo, CEO of Luxury Mortgage, a mortgage banking firm based in Stamford, Connecticut, who was quoted in the CNBC report. “Banks are seeing benefits in making these types of loans and are doing more re-financing now. I also think more people feel confident in the economy at the higher incomes.”

A 30 year fixed is currently at 5.58 percent for a million dollar loan, while last year at this time it was almost 7 percent, according to the report

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

Tags: , , , , ,
Posted in Luxury Real Estate, Mortgage News, Palm Springs, Palm Springs Real Estate, Real Estate News, Uncategorized | No Comments »

More good news for Coachella Valley real estate

Friday, April 2nd, 2010

psp_january2010chart

A key, national index of home prices saw significant gains this January, with California cities showing price increases from San Francisco to Palm Springs.

According to the Standard & Poor’s/Case-Shiller index of 20 metropolitan areas, home prices nationwide rose 0.3 percent from December 2009 to January 2010 on a seasonally adjusted basis, marking the eighth consecutive month of home values improving or at least holding steady.

Prices across California are up almost 4 percent from the bottom in May 2009, but still almost 30 percent below the May 2006 peak, according to the report. The Coachella Valley, including Palm Springs and surrounding communities, saw some of the largest gains in the state.

According to the local California Desert Association of Realtors, the Coachella Valley’s real estate market reported a 14.8 percent jump in median home price in February compared to January. In the same period, the valley posted a monthly sales gain of 5.6 percent.

The valley’s median home price in February also rose to $179,090 — up from $156,000 in February 2009, according to the California Desert Association of Realtors.

“It’s good news,” said Scott Newton, a real estate broker and president of Palm Springs Regional Association of Realtors, who was quoted in an article that appeared in The Desert Sun on March 31. “The market is starting to balance out.”

California home sales will likely get an additional boost in coming months when a new government stimulus package is enacted.

State lawmakers recently passed a tax credit of up to $10,000 for homebuyers beginning May 1. The state allotted $100 million for first-time buyers and another $100 million to help those who purchase newly built homes.

The state-wide tax incentive take over just in time as the federal first-time homebuyer tax credit of up to $8,000 is scheduled to expire at the end of April.

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

Tags: , , , , , , , ,
Posted in Luxury Real Estate, Palm Springs Real Estate, Real Estate News | No Comments »

Coachella Valley Real Estate Market stabilizing

Tuesday, March 9th, 2010
Featured Property

Featured Property

But valley homebuyers still looking for best
deal
Debra Gruszecki • La Quinta Sun • March 4, 2010

Home sales in the Coachella Valley rose 22 percent in January, proving the area to be more resilient as
sales sputtered across California. California’s 27,858 sales of new and resale homes and condominiums were down 5.4 percent from 29,458 for January. In the Coachella Valley, MDA DataQuick reported 748 sales in January.

The boost comes after a year’s worth of sales tracked by Real Data Strategies for The Desert Sun
revealed a real estate marketplace that in 2009 was dominated by the sale of entry-level homes.

Price trumped the valley’s home sales activity in 2009, the Brea firm’s data from the Multiple Listing
Service showed. While the valley’s 9,238 sales in 2009 represented a 25 percent increase from the 7,359 sales in 2008, the dollar volume of the product sold fell nearly 15 percent.

It was a telling sign that buyers who jumped into the market, still getting hammered by foreclosures and
distress sales, are looking for the best bang for the buck. That put the squeeze on big-ticket sales,
causing average sales prices for homes under $500,000 to fall into the affordability range of
$182,369.

How did La Quinta fare?

Real Data Strategies said the La Quinta market is at a stabilization point. Pricing decreases have slowed.

“Home value has seen one-year price decreases of under 10 percent,” said Bob Thomas, who studies
the local market for the nationally recognized real estate data collection firm. Still, sellers have to be realistic when it comes to price. Out of all the 2009 sales in La Quinta — 1,137 —the number of homes sold at prices under $500,000 was 786. The average sale price was $257,378. That’s down from the 2008 average of $283,501, but the drop is not nearly as significant as it’s been in other areas of the valley, like Indio, Cathedral City or Desert Hot Springs.

The city also has recorded its share of $1 million-plus homes, some 91 in 2009.Data also suggests that sellers are getting more realistic about price, given the sales-to-original listing ratio of 89 percent.

Still, Real Data Strategies founder and president Patrick Veling said 2010 is likely to be driven by
distressed home sale activity. That is likely to keep prices down. It’s also likely to keep qualified or cash-worthy buyers interested in the Palm Springs market.

“It’s as good as the market is ever going to look, in my opinion,” Inland Empire economist John Husing
said.

Chapman University economist Esmael Adibi offered these pointers for real estate agents: “Explain to
sellers that they have to be realistic when setting price. Advise potential buyers that a principal
residence is not an investment. It should be treated as their home.”

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

Tags: , , ,
Posted in Luxury Real Estate, Palm Springs, Palm Springs Real Estate, Real Estate News | 1 Comment »

Palm Springs Realtors see sales surge in Coachella Valley

Tuesday, February 23rd, 2010

palm springs

Palm Springs Realtors are working overtime as home sales in the Coachella Valley have surged in recent months.

According to the California Desert Association of Realtors, home sales increased by about 30 percent from 2008 to 2009. Between November and December 2009, sales increased by about 21 percent.

In comparison, nationwide home sales were up 4.9 percent from 2008 to 2009, according to the National Association of Realtors (NAR).

Lawrence Yun, NAR chief economist, pointed to the $8,000 Federal tax credit as part of the reason for the surge in sales.

“It’s significant that home sales remain above year-ago levels, but the market is going through a period of swings driven by the tax credit,” he said in a press release. “We’ll likely have another surge in the spring as home buyers take advantage of the extended and expanded tax credit.”

The federal tax credit of up to $8,000 for first-time home buyers and up to $6,500 for some current homeowners expires April 30.

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

Tags: ,
Posted in Luxury Real Estate, Palm Springs, Palm Springs Real Estate, Real Estate News | 1 Comment »

Palm Springs Realtors celebrate Modernism Week highlighting Palm Springs architecture

Friday, February 19th, 2010

Patrick Stewart Properties

Each year for the past five years, Palm Springs Realtors, architects, historians, developers and residents, have celebrated Modernism Week as a way to acknowledge the unique and influential design of the Palm Springs community.

Modernism Week, which began in 2006 as an outgrowth of the Modernism Show, is a celebration of mid-century modern design, architecture and culture.

This year, Modernism Week kicked-off on Feb. 12. The event is filled with a variety of events including architecture tours, films, lectures, an architecture symposium, educational events as well as parties in many of the mid-century modern homes that define our community. The event extends through Feb. 21.

Homes like this architectural gem by Palm Springs architect James Cioffi, and this timeless Old Las Palmas estate designed by decorator Vance Burke are just two examples of why Palm Springs and the Coachella Valley are world renowned not only for their architectural history, but their spectacular climate, natural beauty and uniquely enviable lifestyle.

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

Tags: , ,
Posted in Palm Springs, Palm Springs Real Estate | No Comments »

Congress Extends Tax Credits for Home Buyers

Thursday, December 10th, 2009

photo by Bernhard SuterFirst-time home buyers and current home owners are in luck! According to the National Association of Realtors, congress recently passed a piece of legislation that extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010. The original dates of this opportunity was supposed to be from April ‘08 through June ‘09, however Congress has made the decision to extend it as part of its plan to stimulate the U.S. housing market. In order for first-time home buyers to qualify for this opportunity, the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.

As for current homeowners looking to purchase a new or existing home, the tax credit has been expanded up to $6,500 if you plan to purchase between November 7, 2009 and April 30, 2010. In order for current homeowners to qualify for this opportunity, you must have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.

Here is the NAR article for easy reference– The Basics: Extended Home Buyer Tax Credit 2009/2010

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

Tags: ,
Posted in Mortgage News, Real Estate News | No Comments »

Patrick Stewart Properties to Host Fundraiser for Desert AIDS Project

Wednesday, September 30th, 2009

For Immediate Release

Media Contact:
Holly Harmon, APR
480-510-5307
hollyhrmn@gmail.com

Patrick Stewart Properties to Host Fundraiser for Desert AIDS Project
Miss California International to Make Her First Official Appearance

Palm Springs, Calif. (September 24 2009) – Patrick Stewart Properties, in partnership with The Bungalow Salon, owned by Vikky Hume, will be hosting an event to raise money for Desert AIDS Project (D.A.P.), October 8 from 6 to 9 p.m. D.A.P. provides medical care and comprehensive support services to people living with and at risk for HIV/AIDS in the desert community. Patrick Jordan and Stewart Smith of Patrick Stewart Properties at Windermere Real Estate are the local source for exceptional real estate services in Palm Springs and the Coachella Valley.

Held at The Bungalow Salon in Rancho Mirage, guests will enjoy cuisine by Parties by Mike, cocktails courtesy of Crater Lake, live music by Alexandra Seelye, and a raffle for fantastic prizes. Miss California, Gretheel Olvera, will make her first public appearance since being crowned earlier this month. Raffle prizes include beauty baskets and a two night stay at Lovey’s Hideaway in Idyllwild, Calif. D.A.P. will also be selling raffle tickets for a two-year lease on a 2010 Toyota Prius, courtesy of Toyota of the Desert. There is no charge for the event, but guests will be encouraged to make a donation or purchase raffle tickets. Reservations for the fundraiser should be made by calling 760-325-9091.

“By hosting a party for D.A.P., Patrick Stewart Properties hopes to increase awareness for the AIDS Walk and raise some money at a time when D.A.P. faces cuts in funding,” said Patrick Jordan, partner at Patrick Stewart Properties.

All money raised at the event will directly benefit D.A.P’s 2009 AIDS Walk. Actively involved with D.A.P. since 2006, Patrick Stewart Properties participates in the annual AIDS Walk and has been instrumental in securing grant money for D.A.P. through the Elton John AIDS Foundation, including a personal donation from Elton John. As “Partners for Life,” Patrick Stewart Properties hopes to raise a total of $20,000 through various fund raising efforts.

The Bungalow Salon is located at 71935 Highway 111, Ranch Mirage, Calif. For more information about the event, call the Bungalow Salon at 760-568-5454 or Patrick Stewart Properties at 760-325-9091.

About Patrick Stewart Properties:

Seasoned real estate experts, Patrick Jordan and Stewart Smith of Windermere Real Estate, specialize in mid-century and luxury homes in Palm Springs and the Coachella Valley of California. Together, Jordan and Smith combine years of business acumen and real estate experience, along with special knowledge and appreciation of these areas. Patrick Stewart Properties is dedicated to providing the highest level of professionalism, integrity and commitment to market distinctive spaces. For more information, visit www.patrickstewartproperties.com

About Bungalow Salon:

At The Bungalow Salon in Ranch Mirage, you come for the appointment and stay for the experience, The Bungalow Experience. Nestled in the heart of the Valley, this charming full service spa and beauty salon feels as if Italy has arrived in the desert. The Bungalow Salon offers an array of services, including haircuts/styles/color, men’s haircuts, manicures, pedicures, massages, facials, Botox treatments, Yoga, and Pilates. The Bungalow Salon is available for special events and bridal packages and offers after-hours appointments. For more information, call 760-568-5454.

About Desert AIDS Project:

Desert AIDS Project is the organization in the desert community where people living with HIV and AIDS can receive comprehensive support, including medical care, case management, and social services. D.A.P. also offers confidential HIV testing at a number of locations and widespread education and prevention services for schools, civic organizations, businesses, churches, and health organizations throughout the communities it serves. For more information, visit www.desertaidsproject.org or call 760-323-2118.

# # #

Tags: , , ,
Posted in Uncategorized | No Comments »

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.

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