Everyone wants to know when the real estate market will turn around including me.  Friends and customers continue to ask and I usually say “I don’t have a crystal ball”.  How trite is that statement?  Anyway I have decided today to make a couple of wagers.

Number one- I am betting on  Big Brown to  win the Kentucky Derby on May 3, 2008.  Since Big Brown won the Florida Derby, I think he is a good bet.

Number two-  I am betting it is time to buy well priced homes.  Since statistics for February have shown that residential real estate sales edged up about 3% and prices where down 20% in some areas over last year, it is time to start thinking that the real estate market may be close to the bottom.

I will be placing a $2 wager on Big Brown.

Likewise, I will be placing a $2 wager that the real estate markets will turn around by the third quarter of 2008.

It is time to buy.  There are some great buys in Palm Springs, especially in new construction and it seems that it is a good bet to buy now before the best of the lot are purchased by others.  Remember never try to hit the bottom nor the top of any market because odds are you will not succeed.

Take these bets to the bank!!!!

As the political climate heats up, discussions on the economy by the three remaining candidates is grabbing headlines and lead off stories on network news.  NBC network news with Brian Williams started the news with the statement about the economy stating “A landscape loaded with doom.”  He was referring to consumer confidence which has dropped to a five year low.  Obviously, consumer confidence affects every aspect of our society from car washes to real estate sales.

Concerning the current state of the mortgage business John McCain stated he was “committed to the principal that it is not the duty of the government to bail out and reward those who act irresponsibly whether they are big banks or small borrowers.”  On the other hand Obama and Clinton have criticized mortgage lending practices and have called on government organizations to provide relief to homeowners. Hillary Clinton has stated she would work to keep people in their homes making available $30 billion to prevent further foreclosures. One idea from Clinton would be to freeze interest rates for 3 to 5 years. Obama felt that would benefit the rich.

Supporting any idea of an interest rate freeze brings up numerous questions and concerns, but I do not think that this freeze would benefit the rich, but middle class Americans who will be facing large interest rate increases in the next couple of years as there interest rates adjust. Maybe a loan limit should accompany an interest rate freeze to make sure any relief package would not benefit the rich.  I know I will have a rate increase on my mortgage in December 2009 and I am not among Americas rich.

I agree with Hillary.  Let’s keep Americans in their homes.

I also agree with John McCain that it is not the job of the government to reward those who act irresponsibly, but what about all the people who got caught up in this mortgage debacle that have not and are not acting irresponsibly.  Should the government help?I think it is inevitable that some relieve will come from the government.  The big question is what will be fair and equitable to all those caught up in this current mortgage mess.

What do you think?

I am blogging for the first time today.  It is my intent to offer interesting and timely information regarding real estate matters with an emphasis on Palm Springs, California.

I have been a top producing Realtor in Palm Springs for twenty five and I am currently associated with Prudential California Realty, a Berkshire Hathaway Company. Over the course of my career I have seen great changes in Palm Springs and have experienced all of the ups and downs along the way.  I hope I can draw on these experiences to help you in your real estate endeavors.

Over the last four months I have visited all of the bank owned properties listed in the Desert Area Multiple Listing Service.  You will definitely get a feel for the bank owned properties in Palm Springs by visiting http://www.palmspringsestates.com/blog/ on my web site.  If you should wish to visit any of these properties or other desert area properties please feel free to call upon The Moore Carlson Group for assistance.

The Los Angeles Times reported on Saturday, March 23, 2008 “Tidy profit from simple tax request”.  This article concerned the lowering of property taxes in this down market under Prop. 8.  Apparently there are companies who charge large fees to file this simple form.  This form is available here DIVR App.

Here’s what’s needed:

The application homeowners must fill out to seek a reduction includes the following questions:

*Property Address*Property Assessor Number*Purchase Price*Assessed value from tax bill*Your opinion of property value*Description of Property*At least two comparable sales to support your claim.

If you have any difficulty in filling out this form or need comparable sales please feel free to contact a member of The Moore Carlson Group, who will be happy to assist you free of any charges.  The form is simple and only takes a couple of minutes to complete.  If you believe your property taxes are too high based on current market conditions it will benefit you to complete this form (DIVR App.) and return it to the County Assessor possibly saving you hundreds and maybe thousands of dollars.

Gary Carlson-760.699.6153