As a result of COVID-19, we’re seeing a couple of big trends happening in Palm Springs real estate:
- Palm Springs is experiencing a seller’s market (which means it’s a great time to sell your home).
- Travel restrictions due to COVID-19 are preventing many people who own vacation homes in Palm Springs from spending time here.
There are a few major factors that have contributed to the seller’s market in Palm Springs:
- Record low interest rates. Lower interest rates = home buyers have more buying power. They can afford to either qualify easier, or purchase a more expensive home to take advantage of record-low rates. People are ready to take advantage of this opportunity to invest in real estate.
- Urban flight to the desert. Many people who live in cities are finding that they want more space due to spending so much time at home due to COVID-19 restrictions. And, with so many people working from home these days, they’re realizing that they’re no longer tethered to a particular city for work. Why continue to live in an expensive city when you could pay less to live in the suburbs? Many are ready to trade in their tiny city condos in crowded cities for a vacation-worthy property in Palm Springs.
- Low inventory = more demand. What we’re seeing is the classic law of supply and demand at play. Buyers are demanding larger homes, more outdoor space, and suburban amenities, and as a result, the competition we see for Palm Springs homes that offer all of these things is increasing. Of course, this also means that home values are increasing, putting homeowners in a great position to cash out.
While all of this is happening, there are many Palm Springs homeowners who are not able to visit because of COVID-19 restrictions. It may be that homeowners cannot travel by plane or you might be one of the many Canadians who own a home in Palm Springs and you just simply cannot cross the border right now.
Either way, if you’ve been thinking about selling your second home in Palm Springs, we can list and sell your home 100% remotely.
Here’s what selling your Palm Springs home remotely looks like:
- Have your home value evaluated. First, Paul Kaplan Group will determine what your Palm Springs home is worth in today's rising market based on their inspection of the property, current market conditions, and comparable recent sales.
- We’ll take care of your 'stuff' inside your home for you. You can choose to sell your home furnished, or we can help coordinate moving your furniture to a storage pod. We can also connect you with a service that will box up your personal items and have them shipped to you. You really don’t have to worry about a thing!
- Coordinate with contractors to make necessary repairs. As we assess what we need to do to prepare your home to list, we’ll let you know if we see any repairs that need to be made. Then we’ll put you in touch with the right contractors who can get the job done for you.
- Stage your home for photos and tours. Having your home beautifully staged is a big part of getting your home to sell for top dollar. We work with skilled stagers who will get your home’s look completely dialed in, so your home looks amazing in both listing photos and in person. Statistics show staged homes sell for more.
- We'll take care of everything that goes into marketing your property. We’ll make your home shine online, and we’ll coordinate all in-person showings (abiding by COVID-19 real estate safety guidelines, of course).
- Once you receive offers on your home, we’ll coordinate all of the necessary communication and paperwork with you virtually. We will help you review offers, we’ll negotiate purchase contracts for you, and we’re ready to coordinate all of the paperwork with you virtually and securely. We’ll manage your transaction all the way through closing, and all of your documents can be signed electronically from the comfort of your own home.
- Your proceeds will be wired to you. Once the transaction is complete, we’ll make sure that your investment is safely wired to you.
Ready to find out what your Palm Springs area property is worth?
