Editor's Letter May 2011

Rays of Optimism in Luxury Real Estate


We talk quite a bit in the desert about quality of life, luxury, and what it all means in a real estate market that’s beginning to show some muscle. When the Los Angeles Times reported that sales of homes $1 million and above in California rose 21 percent in 2010 — the first increase in the luxury segment in five years — we set out to see how the Coachella Valley factors into the trend. The bottom line: Sellers here have been pricing properties closer to the market rather than their personal expectations. And buyers with money are taking advantage.

This month, our annual real estate issue examines this trend and taps a couple of luxury-community developers who are seeing light as they emerge from the recessionary abyss. In “Luxury & Value,” Palm Springs Life personal finance writer Ellen Paris gleans the experience of real estate agents who represent some of the most desirable properties in the desert.

In the feature “From Sand to Sea,” Paris catches up with Ted Lennon, the developer behind The Vintage Club and The Reserve who’s now in charge of Lowe Enterprises’ $200 million resort real estate portfolio, which includes his latest project, Terranea Resort in Palos Verde. In this exclusive interview, Lennon reveals why he left the desert for the coast and how “affordable luxury” has tweaked his approach to selling affluent destinations.

We also meet Michael Meldman, developer of The Madison Club and The Hideaway, in “Family Guy” and take you to the Ship of the Desert, the Palm Springs home of fashion designer Trina Turk and her photographer husband Jonathan Skow. On the eve of her runway show at Fashion Week El Paseo, Turk hosted a small group for an intimate lunch and home tour.  “A Bright, Sunshiny Day” celebrates the indoor/outdoor lifestyle that’s synonymous with the desert and an inspiration to her fashion.

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

Villa Portofino Adds New Italian Villas to Palm Desert Oasis

Villa Portofino may not be a brand new development — the 55+ active adult community originally opened in 2005 — but there’s a lot of new activity going on at this Palm Desert oasis.

Jeffrey Jurasky Takes Powder Rooms to Another Level

Palm Springs designer Jeffrey Jurasky has made sure powder rooms don't get overlooked with over-the-top creations that have become the multi-talented designer’s specialty.

Dann Foley: October Means Colorful Halloween Decorations

In October, we get to enjoy warm weather but that doesn’t mean we don’t yearn for the sights and experiences of falling leaves, harvest, pumpkins and of course, Halloween!

Process of Illumination

College of the Desert's new Visual Arts Building in Palm Desert relates to the old campus in a fresh, contemporary way by capturing the way light plays on date palm trees.

On an Even Keel

For the second consecutive month, the median price per square foot for the entire Coachella Valley declined 2.2 percent in July from $175 to $171.

Promotions + Contests

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.
2014/15 Best of the Best

2014/15 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.
Enter to Win A Celebrate Dance Experience!

Enter to Win A Celebrate Dance Experience!

Enter just once for a chance to win tickets to one of the second annual Palm Desert International Dance Festival performances.