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You are here: Home / Palm Springs Real Estate News / Palm Springs Homes

Palm Springs Homes

Palm Springs Homes

Palm Springs homes are still somewhat affordable, but that will not last for long. What ever your circumstances might be for buying a home, Palm Springs, CA is one of the few cities where you can still buy a home for a price that is reasonable. Today, the market for Palm Springs real estate is thriving and the values are exceptional. While spring is traditionally the busiest time for real estate, this summer is proving different in Palm Springs. So, if you are looking for a home, or even an ideal investment, you may want to consider some very important facts. As the sale of homes continue to rise, demand will rise, and price will follow. As the sales of homes continue to rise, inventory drops, ultimately affecting the price to rent a home. If the prospect of facing higher rents is something you simply cannot bear, then buying a home in Palm Springs is for you, especially with today’s mortgage rates.

FACT: Low Mortgage Rates = Lower Monthly Payments

RENT IS AT AN ALL-TIME HIGH IN MANY AREAS

Interest Rates

Interest rates are the portion of the loan that is charged as interest to a borrower. The higher the down payment, the less one has to borrow, and thus you will pay less in interest overtime. However, ­if you are like most, coming up with a huge down payment may not be that feasible. The truth is, you don’t need a 20% down payment to make your home buying dream come true. In fact if you are smart about the way you buy your home, you just might be surprised. Just because we hear from so many that a 20% down is something you want to do, does not mean it is something you have to do. With that in mind, we offer you some insight:

(Please note: Town Real Estate is not a lender and thus the information we provide to you, is to help you open your mind to the possibility of buying a home).

Types of Loans

  • FHA Loan: with an FHA loan, you can put as little as 3.5% down.
  • VA Loan: with a VA loan, you do not have to put money down, but to apply you have to be an eligible American veteran.
  • USDA Loan: with a USDA loan, no money down with 100% financing is available for non-military borrowers. This loan is for low to moderate-income homebuyers in suburban neighborhoods.

For those who may not be eligible for any of the above-mentioned loans, there is a way to strategize the purchase of your new home, in a way that won’t break the bank. With this, we offer some simple insight:

  • Consider: the price of a home in different areas. San Diego home prices for many are not affordable, but in stark contrast, Palm Springs home prices are.
  • Mortgage Rates: buying while they are still low is a good thing to do.
  • Rent VS Buy: in some areas like San Diego, the rent is high, and will only continue to rise, this for most means buying might be a better option.
  • What you can Afford: the saying goes, do not allow yourself to be house poor, instead buy a home that is priced within your means.

 

Town Real Estate

Whether you are looking to buy a home or sell a home, Town Real Estate can help! Our Palm Springs REALTORS will help guide you through the purchase of buying or selling your home using their knowledge of the Palm Springs community and help you feel more at ease through your real estate transaction. We offer the most up-to-date Palm Springs Real Estate listings, which are available to you anytime. Our REALTORS are only a phone call away to help fulfill your needs or to answer any questions you have about the Palm Springs neighborhood.

Palm Springs Homes for Sale

About Town Real Estate

Town Real Estate is an independent boutique brokerage specializing in Palm Springs Real Estate, Idyllwild Real Estate and neighboring resort communities in the Coachella Valley. At Town Real Estate, we seek to hire only the highest quality real estate agents in the industry. We look for a proven track record of success and a work ethic focused on caring for the client’s needs.

Filed Under: Palm Springs Real Estate News Tagged With: Buying a Home, First-Time Home Buyers, Home Buyers

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Testimonials

Together we made a plan…

After my husband died, I needed to sell my house and I put it on the market right away.  After over a year on the market and two previous realtors, I felt desperate.  I met with Frank and together we made a plan.  I worked with my son-in-law to complete a list of small repairs… Read more “Together we made a plan…”

Doris S.

Use no other agent!

Frank has spoiled me from ever wanting to use any other agent.  His amazing knowledge, energy level and ability to listen and communicate would be impossible to match!  I’ve worked with him when buying and selling properties and he has made both seem easy (and even a little bit fun).  Be sure to have him… Read more “Use no other agent!”

Jackie N.

Skilled communicator, naturally up beat, ethical…

We are thankful that we met Frank at an open house.  Thankfully, we found a realtor that listens to details.  We had bought a house with too much haste when I accepted a Chaplin position and quickly moved here.  Frank helped us sell that “mistake” house and he found us exactly what we needed by… Read more “Skilled communicator, naturally up beat, ethical…”

David S.

Super experienced and knowledgeable…

Kevin is more than a realtor to us, he is now a friend for life. He has a very easy-going demeanor, yet he is highly professional and was on it every step of the way during our process. He’s super experienced and knowledgeable, and extremely helpful when you need him to be. Couldn’t be more… Read more “Super experienced and knowledgeable…”

Holly Peskin

The most amazing realtor I’ve ever known…

Vince is the most amazing realtor I’ve ever known. He is committed to service, communication, integrity, and expertise.  Through his hard work and dedication, he brought a very nice price on my mother’s San Francisco home. He was so very easy to talk to and made the transaction as painless as possible.  I highly recommend… Read more “The most amazing realtor I’ve ever known…”

Katherine D.

Very Good Experience! Kevin Made It Very Simple For Me…

I had a very good experience working with Kevin Stern. Kevin was able to find exactly what I was looking for within a very short period of time. Because I live in San Francisco, Kevin did all the documents electronically and I finished the purchase while I was outside the country. I am not very… Read more “Very Good Experience! Kevin Made It Very Simple For Me…”

Robin

Truly a pleasure to work with!

Having worked in real estate for over six years, both with a brokerage and with the SF Association of Realtors, I know how stressful buying or selling a home can be. Yet, during my own recent experience, Vince made every step of the process easy and efficient, despite the current Covid complications. Throughout the process,… Read more “Truly a pleasure to work with!”

Michael Strange

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As top producing REALTORS, we have been exceeding client expectations for over 10 years. Our attention to detail and work ethic will work in your favor as you navigate the Greater Palm Springs buyer and seller markets. We are here to help with all of your real estate needs, representing both buyers and sellers. To tour homes anywhere in the Greater Palm Springs area, please contact us.

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PO Box 5297
Palm Springs, CA 92263
Phone: (760) 250-1977
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