Music Festivals Continue to Fuel the Coachella Valley’s Investment Real Estate Market

All eyes will be on the music world this weekend when “part two” of this year’s Coachella Music Festival gets underway at the Empire Polo Club.  If it resembles anything like last week, where Beyonce reigned supreme, and thousands of music fans dressed in their “Coachella” best, it will be another unforgettable experience.  Once again, Beyonce, Eminem and The Weekend will be back as well as a genre of music including hip-hop, rock, electronic and indie.

Regarded as one of the biggest music festivals in the world, Coachella was originally capped at 99,000 guests, however, due to its popularity, the Indio City Council upped that number last year, and attendance is now limited to 125,000.  Coachella sells out very quickly, usually just days after tickets go on sale despite their high price tag which starts at $429 for a general three-day admission and up to $1,000 for VIP.

Not to be outdone, the Stagecoach Music Festival is set for April 27 – 29 at the same location as Coachella, the Empire Polo Club.  Considered a “cousin” of Coachella, this is the highest grossing country music festival in the world with thousands of country fans attending.  This year, Garth Brooks, Florida Georgia Line and Keith Urban headline as well as dozens of other mainstream country, bluegrass, and alternative country acts. Tickets for general admission start at $349 on up.

Every year Coachella and Stagecoach mean peak business for Palm Springs and the Coachella Valley, particularly with hotel and housing accommodations. Home rentals have grown increasingly popular for those who prefer not to camp at the concert venue, or can’t find that a hotel that fits their needs.  According to George Rider, Managing Director at Pacific Sotheby’s International Realty for the desert region, the Palm Springs area has a long-standing history with the coastal community for being a home away from home. Naturally, this has interested many real estate buyers who are ready to purchase an investment property.

“Growing far beyond a seasonal calendar of events,” says Rider, “the area now provides year-round activities and festivals that are world renowned including international film festivals, sporting events and so much more.”  Spring breaks, holidays and other special occasions also attract renters who Rider says prefer to stay in a home that is unlike their own yet have the use of a private swimming pool rather than a crowded hotel pool.

Rider adds, “There’s an edge over other areas for buying an investment property here because of the number of renters who are drawn to the desert.”  Rider also says typically, today’s buyers are looking for one of two things: a home they can keep as an investment property, but suitable for when it’s time to retire, or simply a second home.  What’s also important for most buyers today? “A home that is move-in ready, energy efficient and low maintenance,” says Rider.

At Pacific Sotheby’s International Realty, we are proud to represent a number of housing options at every price point for even the most disconcerting buyer.  Whether looking for a vacation or investment opportunity, a year-round home, condo or townhouse, on the golf course or not, we have the perfect desert property waiting for you.  Here are just a few.

4101 Amber Lane, Palm Springs

Marc Lange and Carl Blea Palm Springs
4104 Amber Lane | Palm Springs | 4 Bed 4 Bath 2865 SqFT| Offered at $949,900 | Co-listed by Marc Lange and Carl Blea Pacific Sotheby’s International Realty

This beautiful, modern 4 bedroom, 4 bath home is updated in every way conceivable. Enter the spacious, open concept living room with 11 ft. ceilings, boasting a Brazilian mahogany wood wall treatment and folding glass doors.  Other top amenities include an office with walnut built-ins, wet bar with 100 bottle wine fridge, oversized kitchen featuring an upgraded appliance package, walk-in pantry and access to the covered patio for alfresco dining.  Private yard features pebble tech pool with tanning shelf, spa, fire feature and spectacular mountain views. Pre-wired for intercom, zoned for music and cameras. Turnkey property! $949,000. For more information visit here. 

3706 E. Bogert Trails, Palm Springs

Marc Lange and Carl Blea Pacific Sotheby's International Realty Palm Springs
3706 E. Bogert Trails | Palm Springs | 2 Bed 3 Bath 2662 SqFt | Offered at $539,000 | Co-listed by Marc Lange and Carl Blea Pacific Sotheby’s International Realty

Ideal vacation or retiree property!  Showcasing the most spectacular panoramic mountains, this quiet and serene community of Andreas Hills is the perfect place to call home. Beautiful, move in ready, light and bright 2 bedrooms, 2 full bath condo features soaring ceilings, expansive great room with dining area that overlooks the community’s green belt and just steps from the refreshing pool.  An outdoor patio stretches the length of the common area with great views. The large and well-equipped kitchen offers breakfast area and access to the patio for outdoor dining. So much more to see including spacious master bedroom, and guest bedroom on the other side of the home with its own ensuite bath ensuring privacy. A large office off the entry as well! $539,000. For more information visit here.

45560 Apache Road, Indian Wells

Dave Kibbey Pacific Sotheby's International Realty Indian Wells
45560 Apache Road | Indian Wells | 3 Beds 1 Bath 3636 SqFt | Offered at $1,249,000 | Listed by Dave Kibbey Pacific Sotheby’s International Realty

Tennis anyone?  Nineteen homes share two private tennis courts!  Here is a beautifully designed architectural 3 bedroom, 3 bath home in the heart of Indian Wells. Custom flooring, wood lined vaulted ceilings, clerestory windows, and floor to ceiling walls of glass overlooking the patios, lush gardens, private pool/spa and stunning southern mountain views.  Spacious living room with large fireplace, wet bar, cooks kitchen with modern cabinetry, Neolith counters, walk-in pantry and new top of the line appliances including wine cooler. Beautiful master suite with fireplace, lavish bath with Caesarstone floating island sinks! Here is the ultimate in sunning, relaxation and privacy.  $1,249,000. For more information visit here.

75140 Inverness, Indian Wells

Barbara Grant and Elaine Schultz Pacific Sotheby's International Realty Indian Wells
75140 Inverness | Indian Wells | 3 Bed 2 Bath 2871 SqFt | Offered at $799,900 | Coisted by Barbara Grant and Elaine Schultz Pacific Sotheby’s International Realty

Beautiful home located on the 16th fairway of Desert Horizons. Open floor plans for entertaining with a formal living room, dining room, and separate family room.  Beautifully remodeled from the front door on out to a stunning wrap around patio with firepit and private spa. Two large bedroom suites with own baths, office (3rd bedroom) and bath, wonderful gourmet kitchen with top appliances, granite counters make this an ideal home for snowbirds, retirees, or for those desiring a vacation property with little upkeep!  $799,900. For more information visit here.

52300 Ross, La Quinta

Sean Stanfield and Craig Chorpenning Pacific Sotheby's International Realty La Quinta
52300 Ross | La Quinta | 5 beds 9 baths 8400 SqFt | Offered at $6,749,000 | Colisted by Sean Stanfield and Craig Chorpenning Pacific Sotheby’s International Realty

This extraordinary 5 bedroom, 7 bath estate at the exclusive Madison Club exudes chic elegance and utilizes rich textures blended with exceptional design throughout.  Enjoy the relaxing indoor/outdoor space, entertainer’s kitchen that boasts an open concept with butler’s pantry and bar top seating. The open layout is welcoming and boasts an infinity pool overlooking the 3rd and 4th fairways of the Tom Fazio designed golf course.  The master wing showcases a gorgeous hand carved Canterra stone fireplace, his and her bathrooms and closets, jacuzzi and upstairs office suite with balcony. Separate 2 bedroom, 2 bath casita with kitchenette, dining/poker room and private entry and outdoor fireplace.  $6,749,000. For more information visit here.

78745 Calle Tampico, La Quinta

Step inside this custom designed, open concept desert home offering a premier location near Old Town La Quinta.  This home boasts 4 bedrooms and 5 bathrooms and showcases a master retreat with a spa-style en-suite. The remaining bedrooms are accommodating, offering private bathrooms.  Wonderful tranquil pool and covered lanai – the perfect spot to savor the desert air. Neutral design palate, custom window treatments and shutters and ample parking. A wonderful family home and investment property. $779,000. For more information visit here.

 

Julie McGuire, PSIR Marketing

Julie McGuire, a freelance writer who works with the Pacific Sotheby's International Realty marketing team, specializes in the real estate and travel industries. She is a graduate of San Diego State University with degrees in History and Journalism and currently is researching material and writing her first book.

No Comments Yet

Leave a Reply

Your email address will not be published.