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Sunday’s At Four

Everyone has a cook book but none like Fay Mancuso’s “Sundays at Four”. Carrying on the Italian family tradition she knew as a little girl, Fay’s family, husband Frank, children, grandchildren and their friends have all enjoyed for years the same experience she had of gathering together for great food and conversation. Fay prepares various recipes she learned from her mother and grandmother as only she can. From this tradition she was encouraged to write here cook book so it could be passed on as her legacy to her children and friends.

Here are 2 of Faye’s exquisite Italian dishes made with love…

 

[gmc_recipe 2707]

 

 

[gmc_recipe 2724]

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There is something for everyone in La Quinta CA

There’s something for everyone in La Quinta CA. We have beautiful desert weather, the finest golf courses anywhere, real estate values that are much more accessible than the coastal regions to our west. The architecture of the region is uniquely modern and Southwestern. You can have private seclusion or an active social community, according to your personal desires. Crowds of music lovers swarm to our world-famous Coachella Music Festival every spring, promoting our region to the world.

A new generation has discovered the Coachella Valley, with some of today’s most well known celebrities taking the lead. We have a happy balance between the empty desert to our east and the crowded sprawling urban conurbation to our west, with majestic mountains to frame the boundaries on either side. The lifestyle choices here are many and varied. As more people are exposed to the climate, lifestyle and market of the Coachella Valley, they bring the promise of a healthy and happy continuation of our way of life.

Stars and Festivals Lead The Coachella Valley New Wave

The stars of television and film have always been in the forefront of California real estate. Hollywood discovered Palm Springs decades ago and big names have always led the growth. In the 1950s stars such as Bob Hope, Lucille Ball, Liberace and Kirk Douglas made their homes in Palm Springs, to name a few. Now a new generation, led by Leonardo DiCaprio, who recently purchased Dinah Shore’s home, are taking up residence, as the grand estates and mansions of the region become available.We have seen growth in the luxury end of the market. Homes over $700,000 are selling more rapidly than the lower price ranges. These are still reasonable prices for the Southwest and visitors are discovering our lifestyle as well as Mid Century Modern architecture, and Southwestern aesthetic values.  The communities surrounding La Quinta particularly represents the region’s halcyon lifestyle.

 

The Coachella Music Festival brings in a new generation of visitors and spreads the name of our region across the globe. For what will now be two consecutive weekends in April, a huge crowd will descend on the Empire Club each spring. This is right outside of La Quinta, in the neighboring city of Indio. With potentially 100,000 people each weekend attending the event.

The Festival continues to be a huge success and a powerful promotion tool to a new generation of home buyers and visitors to the region. The festival continues to become more popular each year and it has a disproportionate impact on the brand name of the region, as well as our economy.The two weekends each had the same lineup of bands in 2014. If that becomes the norm then you can expect separate sets of tourist and visitors, who are unfamiliar with the area, wandering around each weekend. The festival is held right next door to La Quinta, and yet the great thing about our communities is that you can withdraw into them until the fuss is over. Or, if you choose, you can join in, without having to worry about accommodation and travel, at a time when the region is at its most beautiful and scenic. The Festival brings fun and excitement if you want it but it’s not that difficult to avoid if you don’t.

Boom Fears Do Not Mean Boom Prices

The Coachella festival helps our economy and brings in many new visitors, who might not otherwise come here. It serves to promote our real estate market to a new and affluent generation. It never hurts to have that kind of blessing these days! In the last decade, the real estate market across the United States has been nothing if not dramatic. The Coachella Valley region and La Quinta have been immune to all of this in some ways and typical in others. Prices went up and then they went down and now they are returning to historic norms. The difference is that, allowing for the wonderful lifestyle we enjoy, home prices are still much more reasonable than the more crowded and hectic parts of California.The last few years have seen prices that are below the regional historic trend. Even though property values have risen recently, prices are still very reasonable and in the normal range. They have a long way to go before they get back up to the high point of the boom. The most rapid growth in sales have been in the luxury end of the market. Don’t let that put you off, it is still very affordable! You get much more for your money than out on the coast.Although there has been a recovery in the financial markets, the jobs market has yet to come back to previous levels. With the trend toward global outsourcing it is unlikely to do so any time soon. But that is part of a bigger, long-term global trend, not a symptom of a regional or national boom-and-bust cycle. The other possible concern is from China, not toward our jobs but the possible collapse of their real estate market and the banking system that supports it. The way that markets and economies are entangled these days, such a collapse could have a negative impact here at home.

It Is Always The Right Time Somewhere

We have so much here in La Quinta and the Coachella Valley that is good. We have the climate, the lifestyle and the culture. The return of the stars helped to fuel the growth in 2013 but there is plenty of room to expand further. We also have affordability in all price ranges and much to attract new residents. Our communities provide connection and seclusion in equal portions, according to what you may choose. When is the right time to buy or sell real estate in La Quinta and The Coachella Valley? It all comes down to when you decide it is the right time for you and your family.

La Qunita CA

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Renting vs. Buying

Renting vs. Buying – Statistics released by the National Association of Realtors show that, across the country, half of tenants are paying more than 30% of their income as rent. Also, the number of renters paying more than half their income for accommodation has increased dramatically in recent years. If you’re choosing between renting in a luxury Southwestern community and buying, it’s always a very personal decision that’s dependent on many factors. However, once you’ve found a community such as PGA West, The Hideaway, Traditions or The Reserve, which suits your choice of lifestyle, you will most likely find that the high cost of leasing makes buying-in an extremely appealing alternative.

Habituated to The High Cost Habitat

 Owning your own home has traditionally been preferable to renting, as renting accrues all of the investment value to the landlord. During the property and finance bubble of the last decade this basic truth was turned on its head, as housing prices spiked but rents did not keep pace.Even so, in many of the metropolitan areas of the country, tenants accept without question that they have to pay in excess of half of their income as rent. We, as a nation, have become so habituated to this that we often fail to see the alternatives, even when they are readily available.

With the collapse of the market and the rebuilding that has gradually happened over the last few years, the state of affairs has returned to its pre-bubble norm. Having stated that, the time to purchase your own home is always the time when you are ready to do so. The timeframe is unique to everyone. Leasing is a great way to discover a community and remain flexible; there are real short-term benefits. However, in the long-term, home ownership usually proves to be the better option.

If your payments for the home that you occupy are extremely high you want to build some equity. At the high end of the market the benefits of ownership are even more pronounced. Living in the right place and in a style of abundance is a fine end in itself but, with the high cost of renting, you never gain anything to show for it on your personal balance sheet.

If You Can Rent That Coachella Valley Home You Can Buy It

Too many people are paying an excessive share of their income as rent. This is particularly true for California residents, where property values and rents have been sky-high for decades. Not just in the lower income brackets but across the market as a whole. We have developed an acceptance of the high cost of renting, based on what we hear in the media, and become accustomed to the range of properties available at a given price level. It’s natural to aspire to the best possible living circumstances we can afford.

The dictum of location, location, location is deeply ingrained in our collective psyche. It’s the basis of the American Dream in the minds of consumers. Living in a luxurious abode is an achievable dream and one that can be afforded by many. It’s human nature to want to take it to the limit and keep up with the crowd. When we work hard we feel that we’ve earned it. So we cut back on other things to live in the nicer neighborhood and the bigger house with more luxurious amenities.

It seems that many people fail to question that if we can afford to rent in a great location then certainly we can afford to buy a similar home. Dollar for dollar a rental budget in the country club communities around La Quinta will get you a more luxurious home than in the big cities on the Coast. Joining a community that gives you the lifestyle of your dreams is affordable and you can have comparatively more for the same price, plus the equity of ownership.

When homeowners depend on financing, a large part of their payment is devoted to interest, that’s true, but they retain a growing equity share and tax time will often bring further benefits, depending on the circumstances. The simple fact is that the cost of financing for ownership is less than the cost of leasing a home.

Even with the added cost of insurance on a low down payment FHA loan the investment of ownership is still very competitive with the cost of renting. The value of the Coachella Valley region becomes apparent when you compare it with the urban areas of San Diego, Los Angeles and The Bay Area. It’s much more affordable to own here then on the coast. The investment that will get you a typical three bedroom home in Los Angeles has the potential to position your household in the country club luxury lifestyle to which we’re accustomed in La Quinta.

Some Thoughts on Lifestyle Choices 

Home ownership is an integral part of the Coachella Valley lifestyle. Opportunities are abundant and the communities offer a rich array of activities and settings. The market has returned to levels that are comparable to historic norms. Our communities continue to grow and thrive as the secret of desert living spreads across the country and the world. Renters risk higher payments as the market improves, whereas owners gain equity and can keep their costs relatively flat as their home’s market value rises.

A lease on a luxury home in one of the communities around La Quinta, such as PGA West or Hideaway, will give you a splendid opportunity to explore our way of life. But, when you look at the big picture, you will still live far more comfortably when you take ownership of your abode.

Once you’ve decided to stay in the area you should consider how to explore the opportunities available for ownership of some of the finest luxury homes listed as available for purchase. Now that the market is in line with its historic trend it’s a great time to discuss how you can make the most of the Coachella Valley lifestyle.

Sources

http://realtormag.realtor.org/daily-news/2013/12/10/us-in-worst-rental-affordability-crisis-ever NAR shows high cost of renting

http://www.calculatedriskblog.com/2013/05/real-house-prices-price-to-rent-ratio.html Comparison of renting versus owning in the historic trends. From Calculated Risk Blog