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Indian Palms Country Club in Indio  has been a long time favorite for people who want a second home in this resort area, or even living here as a full-time resident in spite of the toasty summers here in the desert.  It’s been very popular with “snowbirds” in particular, people who flock down here from colder climates such as Canada, as well as the Pacific Northwest and the Mid-West of the United States during our season which offers fabulous weather from November to May, and even into June before it heats up to over 90 degrees.

Today, with home prices being still at record lows, many people are investing in Indian Palms Country Club, buying several properties, to rent out long-term or short-term and then they plan on sellng them when the prices climb back up again.  In the meantime, they can rent  them out easily in this market.

There are condos and detached single family homes, many of them built only a few years ago.  Some of the houses boast private pools and spas. Many of the homes are built along the golf course or a wide green fairway with meandering streams and waterfalls. 

The condos have recently ranged in price from as low as the low $30,000s for a foreclosure, and up to $186,000, however the inventory for condos now is down fairly low now: only 10 on the market at this moment.

The 18 houses currently listed range in price from the low $100,000s to up to around the mid or low $400,000s, while the condos currently range in price from as low as $47,600 to $165,000. 

At this time, inventory is  also down for detached single family homes, after a buying frenzy within the past six months when 54 single family residences and 30 condos sold.  The condos sold with prices ranging from as low as $35,000 to $169,000, while the homes sold for prices ranging from $105,000 and up to $340,000.  The overall sales price as a percentage of the list price for condos was 96.82%, and for single family homes, it was 97.25%. I always remind my Buyers that generally the successful offer will be at least 94% of the list price.  In Indian Palms, with prices already so reasonable for homes that offer so much value, the successful offer apparently should be around 96% of the list price or more.  It is not uncommon for desirable homes that are priced right to receive full price offers, and sometimes even over full price, when multiple buyers are vying for the same property.

The history of Indian Palms Country Club is reflected in many of the streets which are named after Hollywood celebrities who were friends of the couple who created this resort area, Floyd Odlum, who was the owner of Hollywood’s RKO Pictures, and his wife Jacke Cochran, who was a world famous aviator.  The couple bought the 640 acres for under $100 an acre back in the 1930s, and built The Ranch House, which is now the location of the Golf Shop and Palm Terrace Room. 

The area is surrounded by mountain views and is lush with flora includng fruit and palm trees, and provided a wonderful backdrop for entertaining their Hollywood friends and even US presidents.  Today it continues to offer this to its many residents, whether full-time or part-time.

Within the guarded gate entrance of the community, the allure of Indian Palms Country Club is still strong with all the resort amenities offered such as public golf courses, many community pools and spas located throughout the community, and a Lifestyle Center which features tennis courts, a huge pool, and fitness equipment. 

There are about 17 HOAs throughout Indian Palms Country Club, and some of the HOAs even include the fitness in the low HOA dues, which range from around $250 to $375 per month.

Even if the Lifestyle Center is not included with the particular HOA that manages the particular community in which your house or condo may be in, you can pay a small monthly fee to join.

In the immediate area around Indian Palms Country Club, there are many luxury homes and the ultra prestigious Madison Club is right around the corner.

There are two world class polo clubs around the corner as well: the Empire Polo Club and the El Dorado Polo Club, where anyone can go and watch the exciting polo matches.

As soon as polo season is over, then the world famous music festivals take over, including Coachella, Stage Coach and more!

There are also many popular stores and restaurants nearby, so it is a very convenient location.

There are also posh casinos nearby that offer entertainment, fine cuisine, cocktail lounges and of course, gambling.  Fantasy Springs features live free concerts under the stars with talented “tribute bands” such as Bonfire who pay tribute to ACDC (pictured below) as in channelling the ACDC experience, in this case.

It is also a short drive to the HITS (Horses In The Sun) events which feature international dressage and jumping competitions for equestrians and their beautiful horses, in nearby Thermal, and the public is invited!

Seeing all the beautiful horses against the backdrop of majestic mountains and rows of palm trees is truly a sight to behold.

Besides the music festivals, Indio is famous for its many fun, family-oriented festivals, such as the Date Festival, where you may find belly-dancers and ostriche-riding races among other things!

Indio and its neighboring towns are famous for providing the US with 95% of the dates that are sold.  Date shakes are a delicious desert treat!  Shields Date Farms has a retro diner and shop which sell desert souvenirs including a huge variety of dates.

For those of you who are investors, here is an example of a savvy Canadian couple who recently bought four investment properties within the last few months with me as their realtor. 

They first bought a three bedroom, two bath home built in 2003, for only $136,000. It was in great move-in condition, with a separate laundryroom, and an attached two car garage.  I got it rented out to a nice family for them in under a week’s time.  It was previously owned by an investor who had bought it as a foreclosure on the courthouse steps, who fixed it up a bit, and put it on the market with an attractive price.  I advised my clients to move on it quickly and they did, and it’s already paying for itself.

Next my clients put an offer on a short sale house, meaning the sellers were allowed by their bank to sell the property for less than what they owed on the property, which is a fairly common occurence these days. This two bedroom, two bathroom home boasts a private pool. My clients’ counter offer that was ultimately accepted was $156,000. Not bad for a California home built in 2003, in a gated community with its own private pool!  The deal closed in 3 months, which is about the average for short sales.  Also rented out right away.

Next up, my clients saw another beautiful home in Indian Palms that was a short sale, and  I assisted them with writing up a counter offer that was accepted for this designer-decorated 4 bedroom, 3 bathroom home built in 2003: $143,000.  Amazing value!  And this short sale closed in a record 3 weeks! Also rented out quickly!

Again, another attractive house in Indian Palms came back on the market after falling out of escrow. It was a foreclosure and extra paperwork was involved. But it was worth it, as the sale price for this home built in 2001 ended up being $116,000 for this recently remodeled 2 bedroom, 2 bathroom home on a quiet corner with a private backyard. And it was rented out within a week of being listed!

My clients knew the value of these homes since they had been vacationing in Indian Palms for years, including the heyday years of high prices  from 2004 to 2006, and kept an eye on the falling  prices and felt that this was now definitely the time to start investing.  I think they are right, too, since inventory is now low and prices in some areas of the Coachella Valley are beginning to climb again. It’s only a matter of time when prices start climbing again in Indian Palms as well.

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