Despite being so close to many desirable cities, Desert Hot Springs isn’t faring very well. While homes in neighboring areas like Indian Wells are averaging out at nearly $700,000 in value, the average in Desert Hot Springs sits below $200,000. Low value homes, frequent foreclosures, and a disappointingly slow recovery after the real estate collapse make Desert Hot Springs a bed of problems for many homeowners looking to sell their homes and leave the area.
The foreclosure rate in Desert Hot Springs is triple the average of the nation. For every 10,000 properties, one will face foreclosure every year. In Desert Hot Springs, three in every 10,000 properties will see that fate. It’s a troubling statistic, and if you’re home of those homeowners, you understand how hard it can be.
With a market that is neutral in stance and less than healthy, every home is moving at a painstakingly slow pace. For homeowners looking to sell quickly, like the homeowners who are attempting to escape a foreclosure, this is bad news. The regular market isn’t going to do you any favors, and you need to take a proactive approach with the sale of your home.