February 2009 Multi-Family Report

City Type # of Properties Indio REO 2 Cathedral City REO 1 Cathedral City Short Sale 1 Cathedral City Regular Sale 1 Desert Hot Springs REO 6

Only two of the above properties were built after 2001. The majority of the properties were built prior to 1990. Most of the properties, especially in Desert Hot Springs are boarded up, need serious repair and would be management intensive.

Most of the above properties are selling for 55 to 70% LESS than they sold for three to four years ago, especially in Desert Hot Springs.

Income property is back to being “income property”. Investors are unwilling to purchase a property for anticipated speculation profits.

There are some fabulous buys in Cathedral City. Cathedral City is a great rental area, close to the Freeway, has a larger tenant radius than most cities. There are also some fixer properties available that can be purchased at an even further discount. Contact me if you would like addresses and further info.