I just did a search for a buyer, of ALL foreclosures in the city of Palm Springs, that are still active and not in escrow. The result: 13.
A year ago, such a search would have likely pulled up 113 foreclosures for sale.
For the past five years or more, foreclosures have made up somewhere around 50-percent of the real estate market in Palm Springs. Today, they don’t even make up 1-percent.
You’ve probably also noticed that interest rates are beginning to rise. Traditionally, they tend to average around 5 to 6-percent. That’s nearly double today’s rate.
My point is, if you are at all serious about purchasing an affordable Palm Springs home, with an affordable interest rate, your window of opportunity is quickly closing. Contact me today and I’ll be happy to help you find one of the last remaining real estate deals in town.