Real estate investor and agent Lizbeth Scordo discusses the tightening municipal regulatory environment governing short-term rentals in Palm Springs, California.
Insight
Scordo: Trendy restaurant openings serve as leading indicators for real estate markets
“I've been a food writer for many years, and, you know, I would see, like, kind of new, I'll say the word hip, restaurants kind of coming, a couple of them coming in, which I still use that as sort of a factor, you know, when I see. Yeah, a barometer. I do. Lik…”
Opinion
Scordo: Michelin-starred restaurants will drive real estate appreciation in LA's Arts District
“I bought that just as a whole because I'm bullish on the arts district and because of the restaurants, I just feel like with that many, Nationally covered and Michelin star restaurants in one area, something's going to have to happen.”
Insight
Scordo: Vacation rental rates do not scale proportionally with home purchase prices
“Somebody who buys a ten million dollar house can't necessarily charge 10 times more Or five times more than someone at the two million dollar house. Like what, you know, so it's like, you kind of have to find that sweet spot.”
Disclosure
Scordo: Vacation rentals are seeing a major shift toward same-day bookings
“I don't have any, as many bookings on the calendar as I did a year ago, but what has changed a lot in the last, I've noticed the last quarter or two, is a lot of last minute bookings. I had three day of bookings this summer, And I've never, I don't think I've …”
Opinion
Scordo: 'Mad Men' significantly boosted Palm Springs real estate and tourism
“And then I think we've talked about then when Mad Men came out, I think that helped Palm Springs tremendously.”
Disclosure
Scordo: Over 80% of her Palm Springs vacation rentals book via Airbnb
“A really high percentage is Airbnb. And then as much, I would say, Oh, probably 80% or over.”