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Newsletter 1Q '07 - Coachella

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Newsletter 1Q '07 - Coachella Powered By Docstoc
					Residential Land Newsletter
2nd Quarter 2007                                                                                                                 RESIDENTIAL LAND SPECIALISTS

                                                                                                                              PARK PLACE
                                                                                                                             PARTNERS, INC.
                                                                                                                            COACHELLA VALLEY MARKET


                             P ARK P LACE P ARTNERS , I NC .
                                           THE LEADING RESIDENTIAL LAND BROKERAGE COMPANY
                                            IN SOUTHERN, CENTRAL, AND NORTHERN CALIFORNIA

SECOND QUARTER 2007 HIGHLIGHTS
NEW DEVELOPMENTS:
In an effort to infuse new excitement, energy and a younger vibe into the
                                                                                 Feature City:
                                                                                                                PALM SPRINGS
                                                                                Known for: The City of Palm Springs is known for its beautiful
Palm Springs area, the City of Palm Springs Planning Commission has
                                                                                warm weather and its many recreational opportunities including
recently approved the construction of a new Hard Rock Hotel at the corner
                                                                                PGA golf clubs and first class spa resorts. Formerly the
of Tahquitz Canyon Way and Calle El Segundo. The six-acre site is
                                                                                “playground of the stars” in th 1930’s, Palm Springs today offers a
conveniently located adjacent to the newly expanded Palm Springs
                                                                                rare small-town atmosphere with a sophisticated international
Convention Center in downtown.
                                                                                address.
Hard Rock International entered into a management contract with the
                                                                                Location: The City of Palm Springs is located approximately 107
Nexus Companies to construct the new hotel and condominium
                                                                                miles southeast of Los Angeles, and lies on the western edge of the
development which will include 200 hotel rooms, 450 condominium
                                                                                Coachella Valley, in Central Riverside County.
residences, 40,000 square feet of planned meeting facilities, a 20,000
square foot spa, and various signature restaurants and bars.                    Population: Approximately 50,363 (CNNMoney.com) residents
                                                                                call Palm Springs home year round. In the winter, the city’s
Hard Rock International President and CEO, Hamish Dodds, stated in a
                                                                                population experiences an influx of an additional 27,000 to
press release, “Palm Springs has historically attracted the Hollywood elite
                                                                                30,000 people. During the peak season (May 1 - July 4), that
who flocked to the community to see and be seen in its nightclubs, country
                                                                                number has climbed to as high as 40,000 visitors.
clubs, hotels, pools and restaurants and, now, Hard Rock is excited to
anchor a new era in this upscale, sophisticated urban resort”.                  Business & Employment: From 2000 to 2005 job growth in Palm
                                                                                            Springs was 18.42% , according to CNNMoney.com.
The Nexus Companies is also working to develop a nine-story, 490-
room hotel on a ten-acre parcel at the corner of Tahquitz Canyon Way                          Advantages to Building in Palm Springs: Stable
and Hermosa Drive, near the existing                                                          energy supply, Air, Train and Highway access to
Courtyard by Marriott hotel. This                                                             major high tech hubs. Proximity to colleges &
planned hotel will also include such                                                           universities. Affordable high quality of life for
amenities as a 25,000 square foot                                                                 owners, executives and workers.
                                                                                  SAN FRANCISCO
spa, a 24,000 square foot restaurant                                                                       Median Home Price: $358,000
and a 21,000 square foot ballroom for                                                                        (CNNMoney.com)
planned meetings.
                                                                                                                 Home Price Gain (’04-’05): 23.4%
Both of these new hotels sit on Indian                                                                           (CNNMoney.com)
land owned by the Agua Caliente Band        Above: The Hard Rock Hotel &                          LOS ANGELES

of Cahuilla Indians (Section 14).           Casino in Las Vegas                                        PALM SPRINGS        Source: City of Palm Springs & Palm Springs
                                                                                                                   Economic Development Corporation (PSEDC) website
Source: www.hardrock.com/corporate/press



FEATURE BROKER:                   Matt Windsor
The principals at Park Place Partners, Inc. are pleased to announce           Matt graduated from the University of
the hiring of Matt Windsor, formerly with Developer’s Research and            Southern California’s Marshall School
David Taussig & Associates.                                                   of Business, in the Honors Program,
Matt is joining Steve Nazaroff and Richard Byrd in covering the San           with a B.S. in Business Administration.
Diego County market. The newly expanded team will be focusing                 Matt is an active participant in the
primarily on infill developments is the San Diego area. Matt will be          Urban Land Institute’s Orange County
leveraging his strong finance and cost estimating experience gained           Young Leaders Group, and a former
at his former employers to assist the team in identifying and tracking        member of a State Champion Water
opportunities within San Diego County.                                        Polo Club Team.


                                                    w w w. p a r k p l a c e p a r t n e r s . c o m
Residential Land Newsletter
2nd Quarter 2007                                                                                                     RESIDENTIAL LAND SPECIALISTS

                                                                                                                    PARK PLACE
                                                                                                                   PARTNERS, INC.
                                                                                                                   COACHELLA VALLEY MARKET

CURRENT EXCLUSIVE LISTINGS 2Q ‘07
COACHELLA VALLEY OFFICE - PALM DESERT                                       CORPORATE OFFICE - IRVINE
 # of Lots Market             Broker                                        # of Lots Market         Broker
    81     North Indio        Steve Nazaroff and Marc Kleiman                  517    Lake Elsinore  Dan McDonough and Jeff Spindler
    87     North Indio        Steve Nazaroff and Marc Kleiman                 1,000   Jurupa         Dan McDonough and Jeff Spindler
   142     Palm Springs area Steve Nazaroff and Marc Kleiman                   157    Lake Elsinore  Dan McDonough and Jeff Spindler
 240 ac. Coachella            Steve Nazaroff and Marc Kleiman                  302    Lake Elsinore  Dan McDonough and Jim Radler
 567 ac. Coachella            Steve Nazaroff and Marc Kleiman                  100    Lake Elsinore  Dan McDonough and Brian Carricaburu
   156     Palm Springs       Steve Nazaroff and Marc Kleiman                   94    Castaic        Terry Ruckle and Randy Coe
   129     Desert Hot Springs Steve Nazaroff and Marc Kleiman                  130    Palmdale       Randy Coe
   233     Desert Hot Springs S. Nazaroff/M. Kleiman/K. Sanders                169    Victorville    Randy Coe
    93     Desert Hot Springs S. Nazaroff/M. Kleiman/K. Sanders                263    Rosamond       Randy Coe and Michel Faris
                                                                               251    Rosamond       Randy Coe and Michel Faris
NORTHERN LA OFFICE - VALENCIA                                                  496    Victorville    Randy Coe and Brian Carricaburu
# of Lots Market       Broker                                                  337    Perris         Doug Jorritsma and Rett Coluccio
  279     Lemoore      Matt Power and Jason Hepp                              48 ac.  Calimesa       Doug Jorritsma and Elizabeth Saienni
  159     Bakersfield  Matt Power and Jason Hepp                                99    Fontana        Doug Jorritsma and Elizabeth Saienni
  198     Delano       Matt Power and Jason Hepp                               600    Highland       Doug Jorritsma and Elizabeth Saienni
 150 ac. Delano        Matt Power and Jason Hepp                              11 ac.  Highland       Doug Jorritsma and Elizabeth Saienni
  341     Delano       Matt Power and Jason Hepp                               320    Highland       Doug Jorritsma and Elizabeth Saienni
  352     Delano       Matt Power and Jason Hepp                              15 ac.  Loma Linda     Doug Jorritsma and Elizabeth Saienni
  166     Delano       Matt Power and Jason Hepp                             6.83 ac. N. Montclair   Doug Jorritsma and Elizabeth Saienni
  138     Dinuba       Matt Power and Jason Hepp                                76    Redlands       Doug Jorritsma and Elizabeth Saienni
   76     Hanford      Matt Power and Jason Hepp                                81    Redlands       Doug Jorritsma and Elizabeth Saienni
  101     Tulare       Matt Power and Jason Hepp                                66    San Bernardino Doug Jorritsma and Elizabeth Saienni
  165     Reedley      Matt Power, Jason Hepp and Mark Utman                    39    San Bernardino Doug Jorritsma and Elizabeth Saienni
  102     Sanger       Matt Power, Jason Hepp and Mark Utman                    40    Redlands       Doug Jorritsma and Elizabeth Saienni
  236     Chatsworth   Terry Ruckle, Randy Coe and Richard Byrd                 27    San Bernardino Doug Jorritsma and Elizabeth Saienni
  437     Fillmore     Terry Ruckle, Randy Coe and Richard Byrd              24.5 ac. Chino Hills    J. Spindler, D. Jorritsma and E. Saienni
   34     Hollywood    Terry Ruckle and Richard Byrd                           856    Fontana        Doug Jorritsma
   75     Hollywood    Terry Ruckle and Richard Byrd                            76    Nuevo          Rett Coluccio
   95     Palos Verdes Terry Ruckle and Richard Byrd                           219    Perris         Rett Coluccio
   63     Van Nuys     Terry Ruckle and Richard Byrd                           253    Hemet          Rett Coluccio
                                                                                75    Perris         Rett Coluccio
NORTHERN CALIFORNIA OFFICE - ROSEVILLE
                                                                               135    Perris         Rett Coluccio
# of Lots Market     Broker
                                                                            64.55 ac. Menifee Valley Jim Radler
 216 ac. Merced      Jim Radler
   74     Atwater    Jim Radler and RJ Radler                                 14 ac.  Menifee        Jim Radler
                                                                                50    Menifee        Jim Radler
CORPORATE OFFICE - IRVINE                                                       29    Fallbrook      Steve Nazaroff
 # of Lots Market        Broker                                                 30    Pauma Valley   Steve Nazaroff
 200 ac. Cherry Valley   J. Spindler, D. Jorritsma and E. Saienni
   820     French Valley Brian Carricaburu                                                    CLOSED! Emerald   Meadows Ranch
   721     French Valley Brian Carricaburu
   366     San Jacinto   Brian Carricaburu
 240 ac. Menifee Valley  Brian Carricaburu and Jim Radler
   282     Corona        Dan McDonough
    95     Riverside     Dan McDonough
   116     Riverside     Dan McDonough
   103     Riverside     Dan McDonough
   798     Lake Elsinore Dan McDonough
   100     Temecula      Dan McDonough
    90     Lake Elsinore Dan McDonough
   290     Riverside     Dan McDonough
                                                 w w w. p a r k p l a c e p a r t n e r s . c o m
Residential Land Newsletter
2nd Quarter 2007                                                                                                         RESIDENTIAL LAND SPECIALISTS

                                                                                                                      PARK PLACE
                                                                                                                     PARTNERS, INC.
                                                                                                                     COACHELLA VALLEY MARKET


 MARKET VALUES 2Q ‘07
            Park Place Partners’ Opinion of 7,200 Sq. Ft. “Finished” Lot Prices at T.T.M. as of 2nd Quarter 2007.

                                                   COACHELLA VALLEY
     $325
                                  $310                        $310
     $300                                                                                    $295
                                                                                                                              $280
     $275
                                  $260
     $250                                                     $250
                                  $245
                                                              $235                           $238
                                  $230                                                                                        $226
     $225                                                     $220                           $223
                                  $210                                                       $209                             $212
     $200                                                     $200                                                             $199
                                                                                             $190
                                                                                                                              $181
     $175
                                  $160
     $150                                                     $150
                                  $140                                                       $143
                                  $135                                                                                        $136
                                  $130                        $130
     $125                         $125                        $125                           $124
                                                              $120                           $119                             $118
                                                              $115                           $114                             $113
                                  $110                        $110                           $109                             $108
                                                                                             $105                             $104
     $100                                                                                                                     $100


      $75
                     3Q 2006                        4Q 2006                        1Q 2007                           2Q 2007

                     C athedr al C i ty             C o achel l a                  Des er t Ho t Spr i ngs          Indi an W el l s
                     N . Indi o                     S. Indi o Eas t                S. Indi o W es t                 La Q ui nta
                     Pal m Des er t                 N . Pal m Spr i ngs            S. Pal m Spr i ngs               Rancho Mi r age




                                      LOT                MARKET                                                  LOT                    MARKET
    CITY                          PRICE RANGE           DIRECTION           CITY                             PRICE RANGE               DIRECTION
    Cathedral City           $82,000 - $108,000                             S. Indio West               $144,000 - $181,000
    Coachella                $77,000 - $104,000                             La Quinta                   $158,000 - $199,000
    Desert Hot Springs       $72,000 - $100,000                             Palm Desert                 $158,000 - $212,000
    Indian Wells            $217,000 - $280,000                             N. Palm Springs             $100,000 - $136,000
    N. Indio                 $95,000 - $118,000                             S. Palm Springs             $181,000 - $226,000
    S. Indio East           $100,000 - $113,000                             Rancho Mirage               $162,000 - $212,000




                                                w w w. p a r k p l a c e p a r t n e r s . c o m
Residential Land Newsletter
2nd Quarter 2007                                                                                                                 RESIDENTIAL LAND SPECIALISTS

                                                                                                                               PARK PLACE
                                                                                                                              PARTNERS, INC.
                                                                                                                             COACHELLA VALLEY MARKET

   OUR TEAM: BUILDING CLIENT RELATIONSHIPS
       Park Place Partners has offices serving Southern, Central and Northern California

   Owners / Brokers                                                                                                           Northern California
   Jeff Spindler                                                                                                                           Office
     California                                                                                                                          James Radler
   Brian Carricaburu                                                                                                               Northern California
     California                                                                                                                               RJ Radler
   Terry Ruckle                                                                                                         South Sacramento Area & North
     California                                                                                                                          Central Valley
                                                                                 ROSEVILLE                                                  Ryan Long
                                                                       NORTHERN CAL OFFICE                             North Sacramento Area & Solano
   Staff                                                                                                                                       County
   Nicole Snell
     Director of Marketing                                Sacramento
   Adrienne Moulian
     Director of Marketing                                                                                                     Northern LA Office
   Glenda Comeau                                  SAN FRANCISCO                                                                              Matt Power
     Administrative Manager                                                                                               Kern, San Luis Obispo, Fresno
   Casey Feldser                                                                                        RIVERSIDE             & Santa Barbara Counties
                                                                                                 RIVERSIDE OFFICE
     Marketing Assistant                                                                                                                    Jason Hepp
                                                                                                                          Kern, San Luis Obispo, Fresno
                                                                                                                              & Santa Barbara Counties
                                                                                                                                           Richard Byrd
   Corporate Office                                                                                                            LA and Ventura Counties
   Doug Jorritsma                                                                                                                          Mark Utman
      San Bernardino and NE Riverside                                                                                      Fresno and Madera Counties
                                                               VALENCIA                                                                  Brandon Clapp
      Counties                                      NORTHERN L.A. OFFICE
   Steve Nazaroff                                                                                                                          Kern County
      San Diego County and Coachella Valley
   Randy Coe
      LA and Ventura Counties, and High Desert                       LOS ANGELES
   Dan McDonough                                                                                                         Coachella Valley Office
      NW Riverside County                                                                                                                 Marc Kleiman
   Rett Coluccio                                                                                                                        Coachella Valley
      Central Riverside County
   Michel Faris
      LA and Ventura Counties & High Desert
   Tim Barden
      LA and Orange Counties
   Elizabeth Saienni
      San Bernardino and NE Riverside Counties
   Winn Galloway
      Research Assistant                                IRVINE -
   Matt Windsor                                         CORPORATE OFFICE                                                         PALM DESERT
                                                                                                                      COACHELLA VALLEY OFFICE
      Research Assistant


    THIS AND THAT...                                                              COMMENTS...
   Our Coachella Valley office has moved! Please make                             Please direct questions or comments regarding the Park
   note of our new location and contact numbers:                                  Place Partners, Inc. newsletter to Nicole Snell at
              44100 Monterey Avenue, Ste. 209                                     nsnell@parkplacepartners.com
              Palm Desert, CA 92260
              Telephone (760) 568-2197
              Fax (760) 568-2481

                                                      w w w. p a r k p l a c e p a r t n e r s . c o m
       Corporate Office                  Northern L.A. Office            Northern Cal. Office         Coachella Valley Office            Riverside Office
8105 Irvine Center Drive, Ste. 1460 28494 Westinghouse Place, Ste. 106 3300 Douglas Blvd., Ste. 255 44100 Monterey Avenue, Ste. 209 2900 Adams Street, Ste. C-16
     Irvine, California 92618           Valencia, California 91355      Roseville, California 95661  Palm Desert, California 92260   Riverside, California 92504
         Tel 949.852.8288                   Tel 661.702.9080                Tel 916.784.3329              Tel 760.568.2197                Tel 951.351.3120
        Fax 949.852.8108                    Fax 661.702.9088                Fax 916.784.3426              Fax 760.568.2481               Fax 951.351.4241

				
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