Although the number of distress sales—bank-owned foreclosures, short sales—has noticeably dwindled throughout the Palm Springs valley the past few months, there are still bargain homes to be found in each of the desert cities. Here are some aggressively-priced homes in some of the nicest country clubs in sister cities La Quinta, Indio and Indian Wells.
First up, an Amalfi floorplan in Toscana Country Club, easily the most luxurious private enclave in Indian Wells. Priced more than $200,000 below current new-home prices, this 2006 beauty features the rugged Early California exterior, three bedrooms and 3.5 baths in an wonderfully open floorplan. The front-loaded pool, spa and courtyard welcome the desert sunsets and afford two distinct outdoor living areas.
Oriented toward the morning sun and overlooking the Jack Nicklaus 8th fairway, the elevated home features expansive 10' sliders, tile floors, sit-down wet bar, and two fireplaces. The extended loggia covers a built-in BBQ and plenty of room for the vaunted indoor/outdoor desert lifestyle.
The home was just slashed a few days ago by an additional $100K to $1.195M ($336/sf). Furnishings are negotiable.
In Indio's Sun City Shadow Hills, north of I10, there's a great deal on a south-facing golf course home. Reduced $50K, the 3B/3b/3-car garage San Rafael floorplan reflects the owners' $250K in upgrades—from the custom pool/spa/waterfall to an entertaining-ready backyard with misting system, BBQ island and alumnawood patio covering. Perched nicely above the 2nd fairway, the home takes in the Santa Rosa Mountains.
Now priced to sell at $515,000 ($216/sf). There are many well-priced homes for sale in Sun City Shadow Hills—Indio's premier 55+ active-retirement community— including the just-released final phase of models. Call me to discuss your options on a new or resale home.
Palmilla, La Quinta's luxurious lake-centric guard-gated community, offers up a short sale. This Acacia floorplan—the second of Palmilla's five floorplans—serves up two bedrooms in the main house and a one-bedroom detached guest casita.
Oriented to both the south and west, the expanisve home boasts a sunken living room with wet bar, formal dining room, custom stone/wood media center, and gourmet kitchen. Huge sliders open completely to the outdoors and pool/spa for easy entertaining and full desert enjoyment.
Originally on the market at $1.25M, it is now priced at $485,000 ($149/sf, unbelievable for La Quinta). I think the lender—who makes the final decision in a short-sale transaction—would probably accept this price since it's been on the market a while.
Here's another deal in Palmilla. This lakefront Ocotillo floorplan—the most popular—was one of the original model homes and originally sold for $1.225M. It was first listed at $1.3M just three years ago and is now on the market for $645,900 ($223/sf).
Featuring a detached guest casita, the open floorplan also features a step-down living room with customized media wall, gourmet kitchen with stainless appliances, formal dining room, sunken wet bar, and private spa off the master suite.
Oriented to the north and west with expansive water views, this very-livable home appealed to me the first time I toured it upon its debut as a model home.
And, finally, here's a La Quinta bank-owned foreclosure in The Citrus Club, a low-key county club with Santa Barbara-style to spare. Originally on the market in 2007 at $1.225M, this 4B/4b home offers a separate casita, northwest golf course views over water, granite-slabbed kitchen, and lots of custom cabinetry.
Now lender-owned and further reduced, it's on the market at $603,900 (only $162/sf!).