Where are the condos that Palermo's developer, at least for the time being, owns and rents out? Positively Palermo used a variety of public means to determine that 34 units of the complex's 117 units are involved in the notice of default filed against the Enterprise Cos. Most of them are rented out and new leases are still being signed despite the possible foreclosure. Perhaps you can infer something from that about whether Enterprise is truly leaving. Here's the list:
1. 220 Enterprise – Unit 83 – D model
2. 270 Enterprise – Unit 110 – A model
3. 3621 Melody Lane – Unit 75 – A model
4. 3631 Melody Lane – Unit 76 – B model
5. 3572 Melody Lane – Unit 89 – C model
6. 3582 Melody Lane – Unit 90 – C model
7. 308 Sandy Point – Unit 146 – A model
8. 228 Sandy Point – Unit 139 - B model
9. 218 Sandy Point – Unit 138 – B model
10. 208 Sandy Point – Unit 137 – A model
11. 245 Sandy Point – Unit 130 – A model
12. 255 Sandy Point – Unit 126 – A model
13. 275 Sandy Point – Unit 122 – D model
14. 232 Breeze Loop – Unit 131 – B model
15. 212 Breeze Loop – Unit 135 – A model
16. 311 Breeze Loop – Unit 119 – D model
17. 231 Breeze Loop – Unit 100 – A model
18. 3596 Sunburst – Unit 189 – E model
19. 3616 Sunburst – Unit 193 – E model
20. 3626 Sunburst – Unit 196 – E model
21. 3676 Sunburst – Unit 205 – E model
22. 3575 Sunburst – Unit 117 – B model
23. 3585 Sunburst – Unit 118 – A model
24. 3558 Quiet Side – Unit 179 – G model
25. 3578 Quiet Side – Unit 183 – E model
26. 3588 Quiet Side – Unit 185 – F model
27. 3607 Quiet Side – Unit 194 – E model
28. 3647 Quiet Side – Unit 202 – F model
29. 3657 Quiet Side – Unit 203 – F model
30. 3667 Quiet Side – Unit 206 – F model
31. 3687 Quiet Side – Unit 210 – E model
32. 3554 Penny Lane – Unit 105 – B model
33. 3564 Penny Lane – Unit 104 – C model
34. 3574 Penny Lane – Unit 103 – C model
Please let this site know if you believe a unit is missing from the list or should be taken off. See the Web page "Basics About the Palermo Palm Springs Development" for descriptions of the development's seven different models. The link for that is on the left-hand column of this page. Many of our dear neighbors live in these units. Miss Penny Lane says: All of us deserve to know what's really happening, such as whether the developer just plans to buy everything back at auction and the recent fuss is for nothing.
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6 comments:
I want to encourage Palermo's remaining Board of Directors to contact the Coachella Valley Chapter of COMMUNITY ASSOCIATIONS INSTITUTE. This national organization provides education, support and training to homeowners charged with governing homeowners associations. Go to:
http://www.coachellavalleycai.org/Community-Associations-Institute-Chapter~101108~13510 or for information about the national association, go to: http://www.caionline.org/Pages/Default.aspx
If VPM is still singing new leases, what is up?
VPM manages units for many different clients.
I live near a VPM/Enterprise rental that was just rented.
Village Property Management does manage developer units as well as many private party units at Palermo. If I lived in one of the units listed above and all other addresses in Palermo where not listed along with these, I would feel a little isolated. Please be mindful of peoples’ privacy. Renting over purchasing will continue to be a large part of our US economy - and it is growing. There are many people that understand the economics and benefits of having no mortgage at this time. Many people that choose to rent can purchase. Our economy will continue to see renting as one of the preferred choices for attaining housing for many years to come. Village Property Management will continue to lease all Palermo units in our inventory - be it developer or private party participants that participate in our rental programs. The train must continue along the tracks for the betterment of all.
I have seen more and more in the business news that renting getting to be a preferred way of living now and it is for several reasons. One of the biggest, if you watch CNN or read the business section of the papers is that no one is sure that we have hit bottom yet. The banks still have a huge inventory that they are not anxious to get rid of it. It is not un- common to for a bank to have dozens of bids on a bank owned property yet they do now accept any of the bids even when they are at the asking price. They actually had to intact a law that forces them to give an answer in either 60 or 90 days. I have a friend that is in the process of buying a house and he was told by a few real estate agents to put in a bid on every house he likes. I remember the days when you had to submit a check with an offer. People are scared now and I think we are in for a long haul. I am however curious how VPM is signing long contracts term on a property in foreclosure. If a renter signs a year’s lease and then a few months later, has to move. Would he/she not have a law suite if they were not notified? I guess in that case VPM would be breaking the lease. That would be a cruel thing to do to someone, moving is expensive
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