Editors Letter for May 2010

It’s (Still) a Buyer’s Real Estate Market


As this issue goes to press, a new housing report aired on NPR indicating that home prices had inched up about three-tenths of a point, continuing a slow but steady trend that may signal market stabilization.

However, it’s important to note that sales remain flat, and foreclosures will continue as long as people lose their jobs and struggle to find new ones.

Therein lies the opportunity for folks with cold cash looking to upgrade or (dare we say) invest.

In this issue, our personal finance columnist, Ellen Paris, asks whether it’s the right time for you to buy a vacation house. “More U.S. buyers are going outside the United States for that second or third dream home,” she reports in “Luxury in Another Land” (page 20). “Value coupled with a luxury lifestyle in a posh community — whether in Mexico, Italy, the Caribbean, or Central America — is becoming more popular, especially with today’s attractive pricing.”

Paris also wrote “What Your Money Buys Now” (page 58), a desert-centric look at what you can buy in a variety of price ranges. In her research, Paris found that the desert is a gold mine for reasonably priced luxury houses with world-class amenities.

A few years ago, we considered our houses our best investments. Today, experts encourage us to think of them as shelter and little more. However, if you’re responsible and realistic, you could find yourself in an affordable house that feels like a resort property. And, if you prevent your house from owning you, the property will be a fine asset.

For adventurous, forward-thinking home buyers, our article “Bionic Houses” (page 68) not only reveals the future of home construction, but also suggests the future is now.

Our annual real estate issue isn’t all business, as writer Robert Julian demonstrates in “A Star Turn” (page 62). The feature introduces Joseph Ambrose, the interior designer to the stars, who turned his talents on his own house in Palm Springs’ Old Las Palmas neighborhood. Take an exclusive look inside the house — and enjoy some juicy gossip about the celebrities who have made Ambrose a star.

And be sure to see our wrap-up of the fifth annual Fashion Week El Paseo, a Palm Springs Life event, on page 22.


Comments to this website are moderated by staff. While all comments are welcome, we encourage all to be polite and please do use this system for advertising or business promotions. Any complaint towards a business or service should be directed directly to that business and not posted here. If anyone has a complaint that a comment is defamatory, please contact me at tmay@palmspringslife.com and I will take appropriate action promptly. Thank You

Add your comment:
Palm Springs Life

Related Articles

Modernism Week's Fall Preview Tickets on Sale Starting Aug. 1

Tickets go on sale Aug. 1 for Modernism Week's Fall Preview, Oct. 10-13, in Palm Springs over the Columbus Day holiday weekend.

Color Play

In the tony Thunderbird Heights neighborhood of Rancho Mirage — which has counted Gerald Ford, Anne Rice, and Michael S. Smith among its residents — sits a decidedly down-to-earth classic 1960s ranch house.

Home of the Month: Palatial Retreat

Sitting on 1.23 acres in The Renaissance at Clancy Lane in Rancho Mirage, the 9,500-square-foot home boasts picturesque, 360-degree mountain views.

Getting Back on Track

Housing prices continued to inch up in May for the seventh consecutive month, even as sales continued on a year-over-year decline.

Escena Golf Club Offers Room With a View, Combined Living Space

The Panorama Home at Escena Golf Club in Palm Springs combines the living, dining, and kitchen space with breath-taking views of the San Jacinto Mountains.

Promotions + Contests

90 Days of Summer Romantic Palm Springs Getaway 2014

90 Days of Summer Romantic Palm Springs Getaway 2014

Experience the beauty, romance and excitement of the Palm Springs area when you enter to be the lucky winner of this romantic couple’s getaway
90 DAYS OF SUMMER Instagram Contest 2014

90 DAYS OF SUMMER Instagram Contest 2014

Win a fabulous Palm Springs weekend!

Win a fabulous Palm Springs weekend!

Each month, a first place winner will be selected to win a fabulous Palm Springs weekend!And, each month, three additional runners up will be selected to win a wonderful Palm Springs area Dining certificate!
2013/14 Best of the Best

2013/14 Best of the Best

Palm Springs Life’s annual Best of the Best. Readers tell us who their choice is for the “Best of the Best” of the Coachella Valley in over 40 categories.
Cartoon Caption Contest

Cartoon Caption Contest

Each month, we provide a vintage 1950’s cartoon illustrated by Alice Rovinsky. You are invited to submit a caption or vote for your favorite caption.
Pets on Parade 2014 Photo Contest

Pets on Parade 2014 Photo Contest

Enter your “Cutest Pet” photo in the Pets on Parade 2014 Photo Contest. Online users will be able to like the Cutest Pet photos from six (6) categories.