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Posts Tagged ‘intero real estate’

Investment Opportunities in La Quinta

Monday, April 16th, 2012

Investors are Becoming Landlords in La Quinta   

We have been working with several investors in the Palm Springs area who are taking advantage of the low prices and abundant foreclosure homes on the market.  Most are holding the properties and leasing them for close to 10% return on their money.  One investor has plans to purchase 50 homes in the La Quinta cove neighborhood for $70,000-$130,000.  So far we have 14 homes purchased with 3 more in escrow… but our inventory is dwindling.

After reading this NPR article today, I am beginning to understand why.  Although the competition is sometimes fierce for these properties, with multiple offers on many of them… there has been a steady stream of properties coming on the market– usually 7-10 per week.  That number has fallen in recent weeks to 1-3.  It will be a challenge to find available properties in his price range– and in his geographic area.

If you are an investor seeking properties in the Palm Springs area– I can help you make it happen!

Hoping For Payout, Investors Become Landlords

The housing market has a new frontier — turning foreclosed homes into rental properties. Some big-time investors are starting to buy up thousands of homes to turn into rentals. That might help shore up home prices. But some housing advocates are nervous.

For decades, most single-family homes available for rent have been owned by mom-and-pop landlords. Sometimes it’s the nice old guy up the street who owns a couple of rental homes, and some even offer advice on the Internet.

But, it’s not just mom-and-pops anymore. With the collapse of the housing market, some professional investors with a lot of money smell an opportunity. Right now, there are fewer people able to own a house and more looking to rent. That’s driving up rental costs. Meanwhile, there’s a glut of foreclosed properties being sold on the cheap.

Jack Macdowell, the chief investment officer of Carrington Capital Management, is looking to spend nearly half a billion dollars buying up foreclosed homes and turning them into rental houses. And he’s not alone. Doug Brien, a managing director of Waypoint Homes in Oakland, Calif., is buying in California and around Phoenix.

“We’ve purchased almost 1,300 homes; we actually bought 137 homes last month,” he says. Brien, it turns out, is a retired NFL field goal kicker who played for the New Orleans Saints.

“The entire time I was playing, I was investing in apartment buildings, learning that business, and when I retired in 2005 I went to work for a real estate investment firm for a couple of years,” he says.

It works really well if you do them in your own neighborhood and you buy five homes and you manage them yourself. It gets a little dicier as you get to 100.

- Scott Simon, managing director at PIMCO

One thing led to another and Brien co-founded this company buying up foreclosed homes. Now he’s lined up $200 million from an investment firm. Brien says companies like his are looking to consolidate and professionalize the single-family home rental market.

To read the entire article follow this link.


Hoping For Payout, Investors Become Landlords

 

     If you are looking for a great real estate agent in the Palm Springs area… let me  one for you! 

                                                        

Kathy Schowe   760.333.8886  

Intero Real Estate Services in Old Town La Quinta     

 SchoweProperties.com☼ KathySchowe.comLivetheDesertlife.com 

         

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This Weekend… Art Under the Umbrellas!

Friday, March 23rd, 2012

Art Under the Umbrellas in Old Town La Quinta this weekend!

Art Under the Umbrellas
Main Street Old Town La Quinta
Saturday, March 24, 2012
10 a.m. to 4 p.m.

Art Under the Umbrellas in Old Town La Quinta is a fun and exciting gathering in quaint, scenic, Old Town La Quinta!

The exciting 7th season of Art Under the Umbrellas continues along the closed-off streets of Old Town La Quinta on Saturday, March 24th with 70 artists presenting newly created works in painting, glass, ceramic, jewelry, wood, sculpture, photography, fiber and mixed media. Free parking and free admission!

Steve Madaio & Friends will entertain art patrons with live music from 11 a.m. to 3 p.m. Don’t miss an enjoyable day outdoors perusing artist wares, exploring the unique Old Town shops and dining in Old Town restaurants. Art patrons will find quality artwork, while tourists will discover treasured mementos.

Art Under the Umbrellas

The final Art Under the Umbrellas of the season will be held on Saturday, March 31, 2012.

This year, La Quinta Arts Foundation is celebrating its 30th Anniversary in service to its non-profit mission of “Promoting and Cultivating the Arts,” through which $1 million has been awarded in college scholarships to visual art majors. For more information visit www.lqaf.com.
If you are looking for a great real estate agent in the Palm Springs area… let me one for you!

Kathy Schowe 760.333.8886

Intero Real Estate Services in Old Town La Quinta

SchoweProperties.com☼ KathySchowe.com☼LivetheDesertlife.com

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Taste of La Quinta– Great Food & Wine Event!

Friday, March 16th, 2012

Taste of La Quinta 2012 !

Taste of La QuintaTaste of LQ 2012

Saturday, March 17, 2012

1 p.m. to 4 p.m.

Old Town La Quinta Event Lawn  

 

We had so much fun the last two years at this amazing food + wine + beer event in Old Town La Quinta!  The food is incredible, the people watching is fascinating and the music keeps you movin’ !!

 

The La Quinta Chamber of Commerce hosts the 3rd Annual “Taste of La Quinta” on Saturday, March 17th from 1 p.m. to 4 p.m. on the Old Town La Quinta Event Lawn.

 

Attendees can purchase a block of tickets to sample food from more than 20 participating La Quinta restaurants and taste from a selection of over 50 wines. There will be live entertainment to enjoy and a large, limited edition commemorative wine glass is included with the wine tasting!

Tickets sell out fast for this delicious, fun-filled event. Get your advanced tickets today by calling 760-564-3199.  www.lqchamber.com; Click here to see flyer!

     If you are looking for a great real estate agent in the Palm Springs area… let me  one for you! 

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La Quinta Cove Homes are HOT!

Friday, February 10th, 2012

Just SOLD in La Quinta Cove!

Kathy Schowe with Intero Real Estate just closed on this short-sale property in the La Quinta Cove! The La Quinta Cove is surrounded by mountains and hiking trails and is within walking distance to Old Town La Quinta! 

This buyer will enjoy this beautiful view when he visits us in the winter… but many investors are buying homes in the La Quinta Cove and keeping them as rentals.  Homes can be purchased from $80,000- $130,000 with 3BR-2BA, 1200-1400sq.ft… and leased annually bring in $1100-$1300/mo.

Give me a call and let me help you find your dream home or investment property in La Quinta cove!

     If you are looking for a great real estate agent in the Palm Springs area… let me  one for you! 

                                                        

Kathy Schowe   760.333.8886  

Intero Real Estate Services in Old Town La Quinta     

 SchoweProperties.com☼ KathySchowe.comLivetheDesertlife.com 

         

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