Sue Margiotta

Coachella Valley - Golf Communities and Second Home Residence. "A Luxury, Not a Necessity"

Seasonal Population of Cathedral City, City of Coachella, Desert Hot Springs, Indian Wells, Indio, La Quinta, Palm Desert, Palm Springs, Rancho Mirage and Unincorporated areas of Riverside County

Source: Wheeler's www.coachella-valley.com

To find second home residents, title can produce reports on investment property owners, mostly golf communities have the highest 2nd home populations.

When the weather hits 115+ degrees here in the desert, the golf communities become ghost towns. Still a lot of events during the summer, including the Coachella Valley Music Fest

Source: Wheeler's www.coachella-valley.com

Demographics and Population Projections for Riverside County, Coachella Valley for 2006 / 2007 through the year 2020.

Sorted by age breakdowns, see next post for seasonal residents.

Courtesy of Wheeler's - www.coachella-valley.com

Coachella Valley and Riverside County Demographics and Population Projections, Palm Desert, Cathedral City, Coachella, Desert Hot Springs, Indian Wells, Rancho Mirage, La Quinta, Palm Springs, Indio, Unincorporated areas of Riverside County

Total Population, Age Projections through the year 2020

The Madison Club golf course is adjacent to The Hideaway in La Quinta at the southeast corner of Madison Street and Avenue 52. The golf course opened in November last year. This exclusively private 18-hole, par 72 course was designed by Tom Fazio. The residential portion of the development has been billed s ultra high end custom homes on large and expensive lots that are sold separately. Construction of the first homes at the site has just begun recently.

At the City of La Quinta's SilverRock Resort, a second 18-hole course, designed by Jacobsen and Hardy, could be added to the current course and planned resort project as soon as 2008. Recently, the current SilverRock course was added to the rotation for the 2008 Bob Hope Chrysler Classic after a couple years of negotiations with the tournament. Much construction around SilverRock is approved, including a boutique hotel, a resort hotel, resort oriented retail stores, various styles of casitas and hotel condos and a black box theatre to be developed by DDC Desert Development. The entrance is off of Avenue 52, east of Washington Street.

Also in La Quinta, a second Rees Jones designed course is planned for Andalusia Country Club located at the southeast corner of Madison Street and Avenue 58. The first course opened in December 2005 to rave reviews. Jones' second 18-hole course for Andalusia will be located on the west side of Madison Street and is targeting its first tee-off for early 2008. Drummond Company is the owner/developer (they also developed Rancho La Quinta Country Club) and could ultimately build up to 700 upscale homes surrounding the two courses. The
Temporary clubhouse, along with its golf shop will move into a new fitness center that is scheduled to open in spring 2007 until the massive permanent clubhouse is completed.

Travertine Pointe was another LaQuinta course that once appeared on our radar screen. A specific plan was approved by the City council at a time when such plans were not given expiration dates. However, the applications for Tentative Tract Maps and site development plans have all expired and would need to be reprocessed, which hasn't occurred.

source: Wheelers

Palm Desert Subdivisions

Palm Desert Market Trends for the time period August 1, 2007 through February 29, 2008

The Real Estate market today in Palm Desert is now comparable to the year 2005. If you compare Palm Desert current data to
the figures in 2005, the current market value has not changed much in comparison.

Aug 2007- Feb 2008

• 537 homes sold in Palm Desert during the seven month period August 1, 2007 to February 2008.
• A total dollar amount of $285,493,432
• The average home was built in 1986, and stays at 3 bedroom, 2 bath
• The average lot size is 6291 square feet
• Of the 537 homes sold, the average square footage of homes was 1,957 sq ft.
• The average price per square foot was $254.39

2005

• 244 homes sold in North Palm Desert from January 1, 2005 to June 2005. A total dollar amount of $109,086,800.00
• The average home was built in 1985, and stays at 3 bedroom, 2 bath
• The average lot size was 6548 square feet
• Of the 244 homes sold, the average square footage of homes was 1,846 sq ft.
• The average price per square foot was $243

2004

• In the year 2004, 561 homes sold in North Palm Desert, a total dollar amount of $197,629,409.00
• The average home was built in 1984 and is 3 bedroom, 2 bath
• The average lot size was 5,666 square feet
• Of those 561 homes sold, the average square footage was 1,738 sq ft.
• The average price per square foot was $205

According to DataQuick, the median price of residential homes in Los Angeles in May 2005 was $459,000. Orange County was
$590,000, San Diego was $488,000 and Ventura County was $569,000. Coachella Valley was at $385,000 (when you include
all the cities).

Now in 2008, median price of homes has fallen since 2005, see chart below.

Palm Desert median price for February 2008 was $405,000. In the last 6 months, the median price has risen 7%. This increase
may be due to an increase in high end home sales. 15 homes have sold over $2mil since August 2007, 3 of which were over
the $5,000,000 mark.

From the period August 1, 2007 through February 29, 2008, 537 homes had sold in the Palm Desert area. At this time last
year, from August through February 2007 587 homes were sold, an 8.5% decrease.

The total dollar amount sold during this period through February 2008 was $285,493,432. At this date last year, the total
sold for this seven month period was $315,833,836, this year shows a decrease of 9.6%.

For the period August - February, 2008, in comparison to the previous year, sales were down in Palm Desert,
and the dollar value sold has decreased.

Average Price per Square Foot of homes sold in Palm Desert...

This data in this is based on the data supplied by Desert Area Multiple Listing Service and its member Associations of Realtors, who are not responsible for its accuracy