As real estate prices continue to rise, there are fewer and fewer condos still available for under $100,000.
The few condos that are available are mostly on leased land, have high monthly HOA fees or are short sales, foreclosures and fixers.
In addition, most condos must be purchased with cash only. Lenders have very strict guidelines when it comes to lending on condos and one of their rules is about rental occupancy. If a condo complex has more renters than full-time residents, lenders often will not lend in these complexes. There are other restrictions, as well, that add to the difficulty of getting a loan to purchase a condo in Palm Springs.
Please contact me if I can help you with your Palm Springs condo purchase.