In the prominent desert city of Palm Springs, this newer (built in 2005) 3-bedroom ranch has a lot to offer, listed at $154,900. Because Palm Springs has both amazing desert views and is considered a major point of interest for mid-century modern architecture, the city has an extremely strong tourism base. This house’s previous buyer paid $294,000 (10/20/2005), and Zillow.com now estimates that this house is worth $217,000 (but that seems to be falling quickly).The finishes in this house appear to be pretty nice, and the house does not require renovation or repair work. It could likely be rented for $1,100 to $1,500 per month, just about covering the mortgage. This house is part of a newer development on the outskirts of the city; it is not particularly close to the well-known mid-century architecture, and it is situated in a rather windy part of town, but it is an ideal residence for a person who works in Palm Springs and wants to live in a spacious house away from the heart of the downtown area. Palm Springs is seeing a ton of foreclosure activity these days, as is much of California. For a buyer who wants to buy and hold for a while though, this could be a great opportunity. You can get this place, only three years old, for about half the price of what a builder would charge for a newly constructed house of this size.
The basics...
Address: 22122 Purple Sage Drive, Palm Springs, CA 92262
Current Listing Price: $154,900
PREVIOUS Sale Price: $294,000
Size: 3 Bedrooms, 2 Bathrooms; 1,481 square feet
Lot: .17 acres
http://www.realtor.com/realestate/palm+springs-ca-92262-1097640024/
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