Rancho Mirage Real Estate
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While we continue to hear negative news regarding Real Estate across the country, here in Rancho Mirage, Real Estate seems to keep moving. In a recent update regarding Real Estate in the Coachella Valley, featuring Palm Springs, Rancho Mirage, Palm Desert, La Quinta and other Valley cities, Rancho Mirage came in 5th place in the amount of homes sold from July 1st, 2006 to June 30th, 2007, with a total of 612 sold. The average home cost was 2nd to Indian Wells at $802,000 per home sold. On the average, Rancho Mirage real estate sold within 90.4% of the asking price. That is not bad in the market today. Being a market geared for buyers and still getting within 10% of the list price means that the homes are fairly well priced. The sellers are getting more realistic and homes that are correctly marketed with sell quicker than ones with outrageous pricing.
In that same time frame, 297 Realtors® in Rancho Mirage sold homes averaging $1,061,000 per home, once again showing that Realtors® can get more for your home than selling by owner. Overall, the 2nd quarter of this year, sales were down 21.8% from the 2nd quarter 2006. That is not to be surprised given the current real estate market. Since we still have an inventory that will last 6-9 months and some buyers still uncertain where the market will go, I would expect sales to be down from the previous years, but we are still having a good amount of activity, nonetheless.
There still seems to be quite a disparity in amount of sales based on the price of homes Valley wide. The largest amount of homes sold were under $500,000, with a total of 5180 homes sold from July 1, 2006 to June 30,2007. In the $500,000-749,999 range, there were 1205 homes sold, from $750,000-999,999 there were 518 sold and over $1,000,000 there were 594 homes sold. Palm Springs and Cathedral City led the way in the most homes under $500,000 sold, but Rancho Mirage did sell 177 entry level homes in that same time period. In what is considered the move up level of home, $500,000-749,999, Rancho Mirage was in 2nd place for total sold, 199 homes in that category. In the upscale market range of $750,000-999,999, again, Rancho Mirage sold the 2nd most homes, 106. And, again, in 2nd place Valley wide, Rancho Mirage sold 130 homes in the luxury market over $1,000,000.
All in all, in spite of all the negative press, Rancho Mirage and real estate in other Valley cites, such as La Quinta, show that it is still a desirable place to live. Come live the lifestyle and find out why Rancho Mirage Real Estate means owning a piece of paradise. We at Beyond La Quinta Real Estate want to help you find your dream home.
For years the citizens of Rancho Mirage have known their small gem of a city, located in the middle of the Coachella Valley, is pretty close to paradise. Consider that this playground of presidents has been home to famous philanthropists, Hollywood royalty, and former U.S. presidents. From the moment you enter the city limits, you see why luminaries like Walter Annenberg, Frank Sinatra, Betty and Gerald Ford, Ginger Rogers, Alice Faye, Phil Harris, and the Marx Brothers happily called Rancho Mirage home.
Today Rancho Mirage boasts 16,416 permanent residents and another 11,300 seasonal ones feel the same about their home. We really are a small town that provides our residents with a wide array of exceptional services, which make for a very unique lifestyle, observes Rancho Mirage Mayor Alan Seman. Rancho Mirage supported a healthy population growth of 57 percent between 1994 and 2004, evidence that Rancho Mirage is a special place.
Drive down Frank Sinatra Drive and experience the beauty that is Rancho Mirage. Streets are so clean they glisten in the sunlight. Everything looks brighter here. Manicured flora and fauna are everywhere, creating the perfect contrast between the blue sky and the towering palm trees. Citywide, there are five parks with mountain vistas offering clean and safe settings for families and friends to relax and enjoy the natural beauty of the desert. Where else in America is there a park with a welcome message from Frank Sinatra and Dinah Shore?
Rancho Mirage, with only 24.7 square miles, is truly a city that offers everything in a small, perfect, and safe environment. From 15 championship golf courses to vibrant cultural and entertainment activities to first-rate restaurants to shopping. I cannot find any reason to leave the city. Residents can join the Rancho Mirage City Golf Club and play two championship courses at The Westin Mission Hills Resort at discounted rates. Numerous hiking, biking, and equestrian trails are all easily accessible from anywhere in Rancho Mirage. Prestigious residential country clubs like Mission Hills, Morningside, Sunrise, Tamarisk, The Springs, and Thunderbird with championship golf courses, tennis facilities, and full social calendars provide residents with a luxury resort lifestyle with all the benefits of a small-town environment unlike anywhere else.
Residents enjoy miles of wide, sculpted sidewalks that are perfect for walking, running, and biking. Even the driving on extra wide Rancho Mirage tree-lined streets with their lush landscaped median islands is different than anywhere else. The streets are paved with a special blend of hot, rubberized asphalt, making for an incredibly smooth and quiet driving experience. The street names go beyond the ordinary with main roads named after Bob Hope, Gerald Ford, and Dinah Shore. Only in Rancho Mirage can residents give directions like, Make a right on Bob Hope and a left on Frank Sinatra.
Since its incorporation in 1973, Rancho Mirage has always championed quality growth. It has long been key to maintaining the essence that is Rancho Mirage. When people move to Rancho Mirage, they are looking for a different lifestyle than other resort areas. With that in mind, we are constantly working to protect our environment, including the many endangered species such as the bighorn sheep, says Mayor Pro Tem Richard Kite. As we plan for the future, we are always looking to preserve our open space and to protect our fragile desert, he adds.
Rancho Mirage is unique among California cities. We always spend less than we earn, says Mayor Seman. Well thought-out expenditures that consistently benefit residents top the list of how Rancho Mirage budgets its money.
Rancho Mirage is a city that realizes the importance of reinvesting in the community to ensure it remains as perfect as it is for years to come. Improvements like the current $26 million undergrounding of all the residential overhead utility lines further enhance the stunning mountains views. The city even took over its portion of Highway 111 from the state so it can be assured that it will be maintained to Rancho Mirage standards.
With more than 80 percent of its residents living in elegant gated communities, crime simply is not as much of an issue here. If there is a problem, a local 911 call center provides residents with response times of 3 to 4 minutes, one of the fastest in the entire state. We care about our citizens in many different ways, explains Mayor Alan Seman. Unlike some cities, ambulance services in Rancho Mirage are free to Rancho Mirage residents and visitors.
Eisenhower Medical Center (EMC), a premier medical center, is located in the center of Rancho Mirage on Bob Hope Drive. The 130-acre campus has earned an international reputation for innovative health care. In addition to 325 doctors having admitting privileges at the 253-bed hospital, EMC is home to the Barbara Sinatra Children Center and the Betty Ford Center. A recent $300 million upgrade and expansion is bringing more state-of-the-art research, treatment, and outpatient facilities to Rancho Mirage. The new Lucy Curci Cancer Center provides residents the latest in cancer detection and treatment. Plans are underway on an additional $135 million Annenberg Pavilion.
The River, at Rancho Mirage a 30-acre, water-themed complex provides a dining, entertainment, shopping, social, and cultural centerpiece for the city. The River is positive proof that Rancho Mirage is a business-friendly community. Last fall saw the opening of The Cheesecake Factory added to the energetic environment of The River. It is no surprise that Desert European Motorcar Sales, is one of the top producing Bentley and Rolls-Royce dealerships in the entire country, and is located right in Rancho Mirage.
Rancho Mirage is also a city that cares about its citizens as they age. These are very upscale living communities, says Mayor Seman. We really want to provide for our seniors in the twilight of their lives. Rancho Mirage is truly a Shangri-La in the desert.
Contact details: Nancy Javitch, La Quinta Real Estate Specialist, cell: (760) 774-6063
Office: (760) 777-8870,Southern Hills Real Estate,
78-150 Calle Tampico Suite 101, La Quinta, CA 92253.
License # 01398196.
Email: Nancy Javitch, web: Beyond La Quinta Real Estate
