Some impressive numbers are driving growth within the Coachella Valley. 10,000… 300,000… and 3,600,000… According to the Social Security Administration, these are the numbers of Baby Boomers who are turning 65 years old each day, each month and each year, respectively, for the next 19 years!
Ranked by CNN Money.com as the second Best Retirement Destination in the United States, Palm Springs (and the rest of the Coachella Valley) is experiencing growth and demand today not seen in many other markets across the US.
From a land investment perspective, demand and activity within the Coachella Valley and Imperial Valley is decidedly picking up.
- Toll Brothers is demonstrating that selling new homes in the Coachella Valley for $740,000 IS possible. The Nation’s top luxury homebuilder sold FIVE homes in its first month of sales at their new Alta project in Palm Springs.
- With the majority of the finished lot opportunities spoken for within the Valley, interest in entitled but undeveloped land is picking up.
- D.R. Horton is having success finding qualified home buyers for Renaissance at the Gallery in Palm Desert. With homes ranging from $269,990 to $355,000 the community is at about 50% build-out and is seeing increased interest from potential buyers.
- In 2011 the volume of resale home transactions within the Coachella Valley was 96% of the 2004 market peak (7,275 vs. 7,574). Conversely, 2011 new home building permits are at the lowest levels since before 1983 according to Marketwatch, LLC.
CLOSED DEAL IN IMPERIAL CO.! The Coachella/Imperial Team (Stone James & David Landes) represented the buyer (investor) and the seller (lender) in the sale of 222 acres of prime farmland located within Brawley city limits. This Imperial County buy-and-hold asset has an approved Specific Plan for 1,149 residential units. Contact Stone or David for more details on the deal.
Source: Stone James, Marketing Consultant, (760) 219-7227