Got this in my feed today and I was glad I wasn't drinking hot coffee.
"Price Improvement" - OMG ROFLMAO!
https://www.redfin.com/CA/Palm-Desert/78217-Willowrich-Dr-92211/home/5815022
Truth is, it's a very unpopular floor plan, so the price is going to have to "improve" some more.
This one is still on the market. I think it looks quite nice, but they don't have the floorplan map . . . maybe I would hate that?
And the asking price has "improved" again. Here's the floor plan:
https://www.jelmbergteam.com/resources/solitaire-floor-plan/
It's unpopular because the kitchen is too small and closed off and there's no cost effective way to improve it.
It's also in a 55+ community and a bit away from the action in town, so limited rent-out options. That giant brown spot on the map next to it is pure, real desert, in a high wind area, meaning patio spaces need to be cleaned every few days minimum. Not by the golf course or a convenient golf cart ride to shopping next door to the community. Non-negligible HOA cost and rules.
PD is also incredibly hot in the summer and the city is mostly retired people. Not surprised to see prices drop given the limited buyer market.
The point of my post was to poke fun at the phrase "price improvement".
Thanks for the "facts". I hope you don't mind if I add a few of my own. You see, we have owned rentals there since 2003. They get snapped up immediately. We've never had one go more than 30 days between tenants. The "brown spot" is the Coachella Valley National Wildlife Refuge and can never be developed. What's hard to see from such a great distance is that this area is relatively inexpensive compared to most of the rest of SoCal, and a lot of other places. Many people sell their houses in LA and Orange County for an insane amount of money, buy something for a fraction of the cost in the Desert and travel to cooler climes during the summer. Or they just adapt to the heat. The number of full timers is about 50-60% and has steadily inched upward over the years. There are tons of Canadians and people from cold, snowy states that begin with the letter "M". Prices for furnished seasonal rentals are crazy high, with many snowbirds returning to the same property year after year.
I've posted elsewhere about what a PITA the HOA is, but the fee itself is pretty reasonable, as it includes premium cable, internet, and telephone (for those who want it). There are three large, lovely well-equipped clubhouses, softball center, tennis, pickleball, bocce, restaurants, and more withing walking distance. There's a "secret golf cart gate" that gets you into a nice shopping center without using the public roadway. There are two golf courses, a driving range, a pitch & putt course, and a Pro Shop, which are supported primarily by greens fees, not HOA fees. The greens fees are reasonable for the area, according to our golfing tenants. There are three huge pools outdoors and a large indoor pool. Multiple gyms, assembly rooms and spaces for over 80 clubs. Oh, and two dog parks. Everything is meticulously maintained. Try viewing the map in satellite view, just for fun.
The HOA fee is far less than virtually anywhere else in the Valley. Also, it's not SoCal Edison, so the electricity rates are insanely cheap, as is the water.
Here is a key point that you won't discover from looking at RE Listings: many Seniors get to the point where they just don't want to have to fix anything. They sell their house and rent for the peace of mind. They're our best tenants. All of them can afford to travel, but they like it there and tend not to, especially during the pandemic. The house we own that abuts the Nature Preserve does get blowing sand, but it also gets spectacular sunsets. The tenants love it.
It's not selling because it's an unpopular plan and wasn't priced accordingly.
