How is everyone!? We hope all is well as we round out the last couple of months of 2020 :) Palm Springs and the surrounding Coachella Valley have not slowed down in terms of Real Estate Activity.
Home Sales by city are still up in almost every area of the Valley showing a steady 5% increase over last year's total sales. Loan rates are holding at all-time lows keeping buyers searching for their perfect Palm Springs vacation home. Wondering how home sellers are fairing? How does a record low of 43 days on the market with only a 1% average decrease in sale price sound!!?
The Valley is teeming with energy as everyone is trying to escape the cold and snow. We have outdoor dining open all around the cities and the misters are changing over to heaters on the patios. Now is the perfect time to visit Palm Springs - Take a holiday before the Holidays. We hope everyone has a great Thanksgiving and can connect with family in person or through a virtual feast. Thanks for reading!
Coachella Valley Scavenger Hunt 2020
We want to promote safety and have a little fun before the holidays - If you are in a Coachella Valley CVS Pharmacy any time during this season keep your eyes peeled for this hand sanitizer stand.- THE FIRST PERSON to Find it, Take a Selfie with the stand (safety first please), and send it to us will win a $100 gift card to the Coachella Valley Restaurant of YOUR CHOICE. Click on the video below for a few clues as to where you might find our sponsored hand sanitizer stand.
Check out the Great Articles Below! As we get closer to the end of the year, we all are wondering what's next for real estate and the economy.
With the ever-changing market home sales prices continue to rise in this seller's market. Will mortgage rates continue to stay low bringing high buyer demand? The article below breaks down the economic impact of home buying.
Real Estate Is a Driving Force in the Economy
Keeping Current Matters
As the economy recovers from this year’s health crisis, the housing market is playing a leading role in the turnaround. It’s safe to say that what we call “home” is taking on a new meaning, causing many of us to consider buying or selling sooner rather than later. Housing, therefore, has thrived in an otherwise down year.
Today’s high buyer demand combined with low housing inventory means we’re seeing home prices appreciate at an above-average pace. This demand is being driven by those who want to take advantage of historically low mortgage rates. According to Freddie Mac: “The record low mortgage rate environment is providing tangible support to the economy at a critical time, as housing continues to propel growth.”
These factors are driving a positive impact on the economy as a whole. According to the National Association of REALTORS® (NAR), the real estate industry provided $3.7 billion dollars of economic impact to the country last year. To break it down, in 2019, the average newly constructed home contributed just over $88,000 per build to local economies. Across the country, real estate clearly makes a significant impact (See map below): In addition, last week, the Bureau of Economic Analysis announced the U.S. Gross Domestic Product increased at an annual rate of 33.1% in the 3rd quarter of this year, after decreasing by 31.4% in the second quarter. There’s no doubt the growing economy is being fueled in part by the soaring housing market. Experts forecast this housing growth to carry into 2021, continuing to make a big impact on the economy next year as well.
Bottom Line
The American Dream of homeownership has continued to thrive in the midst of this year’s economic downturn, and “home” has taken on a new meaning for many of us during this time. Best of all, the housing market is making a significant impact as the economy recovers.
Make the Most of Your Outdoor Space this Winter
Colder weather ahead doesn’t mean you have to forfeit your precious outdoor space. This year especially, you’ll want to enjoy your backyard or balcony as long as possible. Here are some tips to make the most of your space this fall and winter.
Clean up ahead of winter
Spruce up your yard to create an outdoor environment you’ll be motivated to enjoy. Take time to clean up and dispose of leaves and fallen branches. For your flower beds, pull out the dead annuals, add compost, then plant cover crops or add mulch.
Warm it up
Electric or propane outdoor heaters can help extend the outdoor mingling season. With free-standing, tabletop, and umbrella-style versions available in a variety of sizes, there are options available to fit your needs. (If you live in a condo, check the regulations first.)
Use what you have
Instead of putting it all in storage, leave your patio furniture outside. Add some machine-washable covers to give your cushions a fresh look. Circle your furniture around a fire pit and you’ll be roasting (and burning) s’mores in no time.
Look on the bright side
Garden lighting at ground level will illuminate your landscape, and string lights with clear white LED bulbs can create an inviting ambiance. Solar-powered, weather-resistant lights are more affordable than ever and make for hassle-free installation and upkeep.
Food for thought
Keep the barbecue in working order and your propane tank filled. Grill up some goodies, then enjoy them outside. It’ll be just like a winter tailgate, only cheaper and without a line for the bathroom.
Last Minute Tips for Winterization
It’s not too late to address a few home maintenance musts before winter fully sets in. Here’s a list of last-minute tasks to knock out before you go into hibernation mode.
1. Check and clean the gutters one last time. As the last leaves have fallen, take time now to make sure your gutters are completely cleared out. Blockages can create ice dams, which will damage your gutters and prevent proper drainage of water away from your foundation.
2. Check your furnace. If you have a furnace, replace your filter if you haven’t already, and commit to changing it once a month. A dirty filter will increase your heating costs and reduce the life of your equipment. Home heating systems that aren't properly maintained may be less than 50 percent efficient. If you can spring for it this year, an inspection done by a licensed professional is always recommended.
3. Maintain your home's exterior. Trim back trees and branches that are hanging too close to your home. Seal driveways, brick patios, and wood decks. Look for cracks and gaps around doors, windows, and eaves, and seal them.
4. Test smoke/carbon monoxide detectors This one is easy to overlook but takes only a couple of seconds: hit the "test" button on your smoke/carbon monoxide detector. If the alarm sounds you're good to go. If not, replace the batteries and test again. Replace your smoke detector if fresh batteries don’t result in a proper test.
5. Consider an energy audit An energy audit can show you how and where your home is using energy, so you can make simple updates to increase your home’s efficiency – saving you money. Home energy audits typically range in cost from $200-$400, and many energy companies offer rebates that make them even more affordable (or sometimes free).
Perform your own quick energy audit by following some of these tips from Energy.gov. Taking these steps will not only lower your utility costs, but they will protect your largest investment, your home, from the unexpected weather conditions ahead. If you have questions about professional services for home energy audits, contact me.
Benjamin Duman is a seasoned real estate agent known for his attentive and personable approach to client relationships. Residing year-round in La Quinta, Benjamin is a passionate advocate for the resort-style living the area offers, with its incredible views and close proximity to world-class golf, hiking and restaurants. His love for the community is rooted in its family-friendly atmosphere and abundant outdoor activities, making it an ideal place for both raising a family and enjoying life's luxuries.
Benjamin's journey into real estate began managing and restoring his family-owned properties, which provided him with a robust foundation in the industry. Part of his ideals of being a Realtor is the ability to help clients achieve their goals while guiding them with honesty, reliability, and efficiency. Known for being proactive and supportive, he is often described by clients as trustworthy and experienced, traits which make him a reliable partner in navigating the real estate market.
Benjamin has a Master's in Business Administration with a focus on Business Development, a Bachelor's of Science in Biology, and an OA in Digital Marketing, degrees which not only help him excel in his Real Estate career but also emphasize how important continuing education is to his growing business model. His achievements range from working on an animation project with Marvel Comics, to leading the on-site Real Estate office acquisition for Ironwood Country Club in South Palm Desert; demonstrating his desire to strive through complexity and pressure.
Outside of his professional life, Benjamin is engaged in home restoration & improvement projects, playing golf, and photography, all of which enhance his understanding of property aesthetics and functionality. These hobbies not only allow him to connect with his clients on a more personal level but also bring a unique perspective to his work. Whether you are buying your first home or seeking a luxurious retreat, Benjamin Duman is dedicated to making your real estate experience not only efficient but also enjoyable.
It's not the same everywhere, so you need someone you can trust for up-to-date information.
You need someone who knows this area inside and out! Ben and his wife Mo analyzed all of the cities of Coachella before relocating to the area themselves.
Ben and his team will work with you to find the right home at the right price for you, including all the neighborhood amenities that matter - not to mention the essential criteria you have for your ideal home.
With their experience and connections throughout the Desert, The Duman Realty Group will find what you need, no matter the time frame.
List and Sell Your Property
When it's time to move, you need someone who will advertise your home, show it to prospective buyers, negotiate the purchase contract, arrange financing, oversee the inspections, handle all necessary paperwork, and supervise the closing.
With over 20 years of residential and investment real estate, home restoration, and commercial marketing, Ben can take care of everything for you while ensuring and prioritizing your needs. His team offers photography and video for your home as well as a complete social media marketing campaign that is strategically targeted to buyers interested in your home's market.
Consult on Home Selling Tactics
Oftentimes buyers don't visualize living in your home the way you do. Ben and his team can show you how to make your home attractive to its ideal audience - which can help you get top dollar.
Things like staging the home, making repairs or minor improvements, or even simply painting the walls can be the difference between a home resting on the market and one that's sold fast.
Prior to moving to the Southern California area, Ben managed an Investment Group that restored and flipped older homes. He was hands-on and heavily involved with the renovation of each home.
This experience provides in-depth knowledge on pricing, timing, and a handful of other factors involved with the process of prepping a home for a top-dollar sale.
Benjamin Duman MBA delivers unmatched customer service, and their genuine desire to see your property goals come true makes them the go-to resource for all your real estate needs.
