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