Buying a home in Palm Springs is a big decision. No doubt, you have LOTS of questions! The Paul Kaplan Team works with many Canadian buyers, and offer this guide to help with your decision process.
1. Do properties in Palm Springs make good investments?
With the recent volatile real estate market, many buyers have been reluctant to purchase in the US. However, every market and location is unique. Palm Springs attracts buyers from all over the world. Additionally, Palm Springs is located within 2 hours from three major metropolitan areas: Los Angeles, San Diego, and Orange County. With an International Airport, Palm Springs is easily reached from almost any major City in the US and Canada.
As a result, Palm Springs real estate prices may have not been hurt as bad as other areas of California. Prices have stabilized over the past year, and at the lowest, we've seen in years. As a result, there has been a frenzy of real estate activity in the last 18 months by both Canadians and US buyers wanting to take advantage of ideal buying conditions.
Many buyers purchase in Palm Springs for investments purposes, either for long term rentals that generate positive cash and appreciation, or Short Term Vacation Rentals. Based on location, The Paul Kaplan Group can assist you in determining the cash flow potential of an investment.
Price is determined by location – the closer you are to amenities, the more you will pay. Additionally, you will pay more for architectural properties, which in turn may result in more desirability by your prospective tenants.
For more information, contact us here or give us a call at 760-459-1396.