The real estate market in Palm Springs is heating up again.  At The Paul Kaplan Group, we had the best December in years, selling over 14 homes in December, which is normally the slowest month of the year.

The California Association of Realtors posted the following press release-  California home sales rise in December, posting 11-month sales high, C.A.R. reports

LOS ANGELES (Jan. 17) – California home sales rose for the third consecutive
month in December, marking the highest level since January 2011, according to
data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).  Sales also were up
from a year ago, marking the sixth consecutive annual increase.

“With the economy slowly improving, home buyers – investors and first-time
buyers alike – took advantage of affordable  interest rates and made a push to
close escrow by the end of year,” said C.A.R. President LeFrancis Arnold.
“Robust sales over the past few months signal the housing market is treading
above water on its own in the first full year without the government stimulus
that has helped housing in the last couple of years.”

Closed escrow sales of existing, single-family detached homes in California
totaled a seasonally adjusted annualized rate of 520,940 in December, according
to information collected by C.A.R. from more than 90 local REALTOR® associations
and MLSs statewide.  December’s sales were up 3.3 percent from November’s
revised pace of 504,420 and were up 0.1 percent from the revised 520,330 sales
pace recorded in December 2010.  The statewide sales figure represents what
would be the total number of homes sold during 2011 if sales maintained the
December pace throughout the year.  It is adjusted to account for seasonal
factors that typically influence home sales.

The statewide median price of an existing, single-family detached home posted
its second consecutive monthly gain, increasing 1.8 percent to $285,920 in
December, up from a revised $280,960 in November.  However, the median price was
down 6.2 percent from the revised $304,770 median price recorded in December
2010.

“Fourth quarter sales were stronger than we expected, thanks to recent
improving consumer confidence and an economy that’s slowly showing signs of
growth.  As a result, sales came in slightly above our fall projection,” said
C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “For 2011 as a
whole, sales reached a preliminary 497,860 homes sold statewide, up 1.1 percent
from the 492,290 homes sold in 2010.  However, the statewide median price
declined 6.3 percent for the year, to reach a preliminary $285,950, down from
the revised $305,010 recorded in 2010.

“Home prices are stabilizing for the distressed market, where we see robust
demand, but we continue to see downward pressure on home prices in some higher
end markets,” said Appleton-Young.

Other key facts of C.A.R.’s December 2011 resale housing report include:

• Housing inventory remains tight throughout California, with the Unsold
  Inventory Index for existing, single-family detached homes declining to 4.2
  months in December, down from 5.0 months in November and down from a 5.0-month
  supply in December 2010.  The index indicates the number of months needed to
  deplete the supply of homes on the market at the current sales rate.
• Thirty-year fixed-mortgage interest rates averaged 3.96 percent during
  December 2011, down from 4.71 percent in December 2010, according to Freddie
  Mac.  Adjustable-mortgage interest rates averaged 2.79 percent in December 2011,
  compared with 3.31 percent in December 2010.
• The median number of days it took to sell a single-family home edged up to
  58.7 days in December 2011, compared with a revised 58.0 days for the same
  period a year ago.

For more information on Palm Springs real estate, visit www.PaulKaplanGroup.com

Palm Springs Modernism Week Highlight:

Walk of Stars Dedication

FRIDAY, February 17, 2012  2:00 PM
William F. Cody, F.A.I.A.

William Cody’s indelible contribution to Palm Springs’s architectural resources is celebrated and honored at this free Modernism Week event in Palm Springs. Join Cody family members, city officials, architecture aficionados, and owners of Cody-designed residences in paying tribute to the architect recognized for his “less is more” approach to design. Landmark Cody projects in Palm Springs include the 1949 award- winning Hotel Del Marcos, L’Horizon Hotel, St. Theresa Catholic Church, Palm Springs Public Library, and the Atakian Building, as well as private residences; the Abernathy House, the Jorgensen/Mavis Residence, and the Racquet Club Cottages West condominiums. Enjoy a reception immediately following in the adjacent Palm Springs Art Museum’s Edwards Harris Center for Architecture and Design. Each attendee will receive a keepsake program with map.

The Paul Kaplan Group is thrilled to be representing one of William Cody’s signature style homes, in Rancho Mirage.  For more information, click here.   

This stunning architecturally significant property, and designed by renowned Architect William Cody and originally owned by golf pro Jimmy Hines. (See attached document for more info on the history of this home). Located in the much desired and very private 10 home neighborhood of Thunderbird North. The 3 bed 3 bath home opens out from expansive walls of glass to one of the most breath-taking, panoramic views available in the entire desert. The great room is the hub of this entertainer’s delight, with custom cabinetry, hidden TV cabinet, original rock pversized fireplace, and custom glass doors which open to the pool and views. A private cabana was built adjacent to the pool and spa, featuring an outdoor kitchen area, as well as cozy firepit. The house has been upgraded extensively, including spa inspired bathrooms, a contemporary kitchen which boasts top of the line stainless appliances. This is your opportunity to own a stunning piece of desert mid-century architectural history.  Offered at $849,000  For more information contact Paul Kaplan at 760-285-8559 or Click Here.

Frank Sinatra had a number of homes in the Palm Springs area over the years-  Probably the most famous is the one by E. Stewart Williams, Twin Palms, in the center of Palm Springs.

However this is his family estate that he built in Rancho Mirage, in the Tamarisk Country Club.  It just hit the market at a whopping $4.5 million!  Built in 1970, it consists of 4 bedrooms, 6 baths, in 6900 sf of living space on a lot that’s 21,344 sf. 

Heres the description from the actual listing:

Former FRANK SINATRA Family Estate – Built by Sinatra on land originally owned by JACK BENNY; Named WONDER ESTATES — This Upscale home has had guest Celebrities, Movie Directors, and the Rich & Famous! Expansive backyard on the 17th Double Fairway of Tamarisk Country Club; Tennis Cts in C.C. Over 6,900 sf., 4 Bedrooms, 6 Bathrooms — Elegant Versace Furnishings; Gourmet Kitchen w/triple Stainless Refrigerator for those who like to Cook, like Frank did! Pool Table, Gym, Big Screen TVS, Resort-Style Pool & Spa w/Waterslide; over 20,000 SF of pristine landscaped grounds; Outdoor BBQ & Party Island; Filmed for TV by CBS Channel 2! FULLY TURNKEY FURNISHED — Bring your Bathing Suit & Toothbrush! Located in CENTER OF PRESTIGIOUS RANCHO MIRAGE — 5 Minutes to The River, Eisenhower Medical; 5-Star Restaurants; Theatres; Agua Caliente Spa & Casino; Shop & Dine at The River or El Paseo. YES, IT’S THE GOOD LIFE!

Guess what, its offered furnished too!!  Ok, this isn’t the typical groovey mid-century home that we typically feature-  as you can see from the pics-  but if living in a home that has some celebrity pedigree sounds appealing to you, then this is your house!  (and no doubt it could be a great vacation rental that could most likely generate big bucks!)

Here are more pic’s:

Listed by Power Brokers International.  Listing informatin courtesy of the Desert Area MLS.  For more information, contact The Paul Kaplan Group.

My Chistmas present to myself, was purchasing a mid-century home in the Racquet Club Road Estates neighborhood of Palm Springs.  I’ve been promoting & selling homes in this neighborhood since 2001 and have been wanting one of my own for years!   Here’s an intro to the ‘hood I did in 2009:  Racquet Club Tour

The original home was a “flat roof” model, designed by Palmer and Krisel architects, and built by the famed, Alexander Construction Company.  The flat roof design tends to be less popular then the more iconic Butterfly Roof, or Pitched Roof models-  but for some reason, I’ve always been attracted to this plan.  This house on George Drive, done by my friend, Jennifer Dorn, has always been one of my favorites.   GEORGE DRIVE

Side Patio

The house is located at 439 E Racquet Club Road.  At the height of the market, the house was listed at $599,00!  (August, 2006)  Amazing that prices were actually that high back then!  Then came the recession-  this house went into foreclosure.  It had been sitting on the market since July, 2011, starting at $310,000.  I showed it to many of my own clients-  and admired it for the orientation, spacious back yard, pool shape and views.  There were a few price reductions, before I made a stab at it, and got it for $265,000, plus they paid 3% for my closing costs…a good buy in the current market for Racquet Club.

 Here are some of the “before” photos:

Facade of 439 E Racquet Club

Living Room

Master Bath

After selling Real Estate for over a decade now in Palm Springs, every once in a while I’m delighted to see new funky never-before-seen listings like this….  As most know, Palm Springs is known for the Rat Pack night club era, and its plethora of mid-century and modern architecture, but the rare treats are properties such as this gem, known as the “Versailles of the Desert.”  Located in the posh Movie Colony neighborhood near downtown Palm Springs, this crazy kitschy home was just listed for $1,100,000

Here’s the agent description:

“An authentic Rat Pack home featured in Palm Springs Life magazine as the Versailles in the Desert. This is one of the largest homes on one of the choicest corner lots in the Movie Colony. First time on the market in 35 years, this property now needs a major upgrade to bring it to its new heights of excellence. The main house features 3 bedrooms, a huge walk in closet, 3 baths, large living room and salon, screening/TV room, formal dining room, sitting room with bar, small chapel, dinette overlooking the pool and kitchen. Additional structures (some unpermitted) include a carport; guest house consisting of a foyer, living room, bedroom, bathroom and kitchen; a large enclosed gazebo; and a storage shed. Magnificent mountain views surround this enchanted property with its pool/spa, covered patio, rose garden, fountain, and a multitude of palms, fruit trees and other plants.”

The homes four bedrooms, and some over the top baths, as you can see from the pics.    Over 4,000 Square feet on a lot that’s over 17,000 SF.

Check out the mini-Hearst Castle inspired pool  Do you love it?

All this can be yours.  Are you glamorous enough to own this?  (I can’t wait for the Broker’s Open house myself!)  Oh, and did you see it has its own Chapel here too??  Wonder what other stories those walls can tell…

For more info, call me at 760-459-1396.

or visit my site www.MidCenturyModernPS.com

Listing is courtesy of the Desert Area MLS, listed by Tarbell.

We had a great turnout Saturday night for our One Year Anniversary Party.  It was wonderful seeing so many of our friends and past clients.

After running my own real estate biz since 2002, I decided to form The Paul Kaplan Group in 2010.  All of our Buyer’s Specialists were chosen to join our team, because of their expert customer service, knowledge of Palm Springs real estate, and extensive experience.  Since forming our team, we have sold more homes in Palm Springs in 2011, then any other real estate group in town!  Thank you to all of our wonderful clients as well as our team, for a very successful and fun year.

We were fortunate to be able to host this year’s event  at our latest listing, at 1910 Berne Drive, a spectacular updated mid-century home located in the Racquet Club Estates neighborhood of Palm Springs.  We’re currently scheduling private viewings of the home for anyone that’s interested in seeing it. Just call me at 760-285-8559.

To see more party pictures, please click here.

Special thanks to architect, James R. Harlan who donated a copy of his 2011 Alexander Tribute journal, which high-lights the work of  The Alexander Construction Company in Palm Springs.  (Click here to purchase a copy from the Palm Springs Preservation Foundation).

Other gifts that were raffled off, included gift certificates from Wil Stiles, Trio and Koffi, and items from Not Nuetral, all located in the Uptown Design District.

Thanks to everyone that attended to join us in our first year’s celebration!

In Palm Springs, we’re fortunate to have one of the greatest collections of mid-century modern architecture in the world.  Modern architects continue to explore Palm Springs and the desert with new ideas and innovations-  thus is the case of Desert One, built by Jim Jennings, AIA.  At The Paul Kaplan Group, we specialize in Mid-Century and Modern Architectural Real Estate in Palm Springs, and share unique listings with our clients.  Listed at $725,000, this is truly one of the architectual gems of Palm Springs.  Here’s info from the listing from the Desert Area MLS:

Desert One, Jim Jennings, AIA 2005: Architectural Digest, September 2009. Rarely, dating back to ‘Case Study’ houses of the midcentury, do we find a new but timeless expression of architectural art that truly captures the essence of the era, one that is sure to be appreciated well into the next century. At first look, a sculpted monolith rising from the desert floor, perfectly sited and firmly rooted into 2/3 acres of untouched natural desert terrain. Private, protected behind tall walls, ‘Desert One’ is a 2,800 sq ft compound of seamless indoor-outdoor living and entertaining space, executed in concrete, steel and glass, constructed with exacting fit and finish. Once inside the wide front door that automatically clicks shut with precision, you’re in another world. Here, Jim Jennings created a tranquil modern sanctuary, ideally suited for one or two, that is Palm Springs: Open and Exciting!

Photography courtesy of Joe Fletcher Photography via the Desert Area MLS

Jim Jennings has been twice honored by Architectural Digest as one of the “AD 100″ [the top international architects and interior designers]. ‘Desert One’ was featured in the USA edition of Architectural Digest, September 2009, and here in an international edition in October 2009 was the cover

For more information on this stunning property, please call or text Paul at 760-285-8559.

Listed by Architecture Properties.

For those desert dwellers that have lawns Palm Springs, now’s the time for the yearly question:   To scalp or not to scalp.   The following information and link is from Moller’s Garden Center in Palm Desert.

Fall brings the age old tradition of over-seeding the lawn. Have you noticed a change in the process over the last few years?? What used to be an overnight process, spewing countless allergens into the atmosphere is now a gradual process. For more information, follow thi link:  http://www.mollersgardencenter.com/mollers-tip.asp

Mid-Century Vacation Rental Home

Palm Springs is an international vacation destination.  Mid-Century homes are very desirable for many visitors coming to town, who  rent by the weekend, week, month or longer.

Many  owners of vacation homes  in Palm Springs, rent out their homes on a part time basis. Income can be generated by renting out their Palm Springs homes when they’re not using it themselves. The rental income often supplements their mortgages, making owning a 2nd home in Palm Springs more affordable for many.

There are numerous property management companies in Palm Springs that handle all aspects of managing vacation rental properties, from advertising and marketing, checking in guests, and cleaning the homes between tenants.  The average management fee is approximately 25% of the rental amounts.

The Racquet Club Road Estates area is a popular neighborhood of mid-century vacation rental properties in Palm Springs.  The photo above is of a home located in the Racquet Club area, that is a very popular vacation rental, grossing approximately $40,000 per year.  Click here for more information.

For more information on Palm Springs Vacation Properties available for sale, please visit The Paul Kaplan Group at our website.  We specialize in vacation properties in neighborhoods throughout Palm Springs.