I was reading an article on CNN comparing what you could purchase with the nationwide median home price of $163,000 in eight major markets across America (READ MORE). This made me wonder what that amount of money would purchase in the markets that I work. Keep in mind that you can always find cheap desert homes. Retirement housing in the desert has become a favorite with the Baby Boomer generation. So just how much home can you purchase for the average and is there a difference in price verses community? I decided to eliminate short sales because they do not always complete and, therefore, can askew the numbers. I picked a minimum of three bedroom homes that were priced near and below the national average. Below are my findings.
TWENTYNINE PALMS, CA:
I picked this home listed by Select Realty Services. This is a bank owned, REO property. This three bedroom, two bath home was built in 2006. It has granite kitchen counter tops, tiled bathrooms, and tiled and hardwood floors. Located north of Hwy 62 and near the 29 Palms Marine Corp Base. No HOA fees. This home is 1,995 square feet big, built in 2006, and is offered for $129,900 or $65 per square foot!
YUCCA VALLEY, CA:
I picked this home listed by Century 21 Les Ryan. This is a standard or traditional sale. This is a four bedroom, two bath home has a family room, fireplace, indoor laundry area, and walk-in closets. Located in the Storey Park area of central Yucca Valley with no HOA. This home is 1,842 square feet big, built in 1965, and is offered for $79,900 or $43 per square foot!
PALM SPRINGS, CA:
I picked this home listed by Casa Bella Properties. This is a standard or traditional sale. This is the only home in this price range listed in Palm Springs! A single story home with hill views. A four bedroom, two bath home that has recently been remodeled with new carpet, paint, doors, landscaping, and granite countertops. This home is 1,777 square feet big, built in 2002, and is offered for $110,000 or $62 per square foot!
PALM DESERT,CA:
I picked this home listed by HK Lane Real Estate. This is a bank owned or REO property. This is a golf course home located in Palm Desert Country Club. The home features three bedrooms, two baths, family room, fireplace, formal living and dining rooms, a covered patio, and a two car garage. This home is 1,925 square feet big, built in 1988, and is offered for $145,000 or $75 per square foot!
NORTH INDIO, CA:
One of my favorite areas of the Coachella Valley. I picked this home listed by Real Home Services & Solutions. This is a bank owned or REO property. Located in the beautiful Talavera development. This is a three bedroom, two bath home that is on auction. The listing does not show HOA but I believe the fees are around $150 monthly. This area tends to have large Mello-Roos fees so check with the tax man! This home is 1,898 square feet big, built in 2006, and is offered for $134,500 or $71 per square foot!
As you can read, generally speaking the cost of housing in the desert area is between $60 and $80 per square foot. Currently my general contractor friends tell me it cost a minimum of $80 per square foot to build a home on your lot! Buying below replacement cost will most likely yield a nice return in the future.
As you can see above, I don’t focus on my listings but prefer to focus on your wants and needs. Call me today and lets discuss desert living! I can be reached either by email at Bob.CA2NVRE@hotmail.com or on my cell at 760.221.2999.
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