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retire

Finding the Best Places to Retire Since 2006!

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Watercolors

79285 Cool Reflection, La Quinta, California 92253

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Watercolors, an Attractive 55+ Single Family Home Community in La Quinta, California, Has a Medierranean Theme and Subsidized Prices

Just across the street from the Rancho La Quinta Golf Club in La Quinta, California, Watercolors is an attractive, gated 55+ single family home community. It is also a moderate-income development, open to people who live in La Quinta full time, do not own other real estate and meet certain income restrictions.

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Watercolors was built in the mid-2000s, and each home has a Mediterranean theme with yellowish/pinkish colored exterior, a concrete tile roof and an attached garage. Interiors feature high ceilings and an open floor plan with three bedrooms, two baths and approximately 1,400 square feet on a single level. Some homes have a mountain view, but others do not. Yards are very small and have a tree or two and a few bushes. Short palm trees line paved neighborhood streets.

The actual market value for most of these properties is in the mid-$200,000s, but sales prices are in the mid- to high-$100,000s because the City of La Quinta subsidizes the homes with a silent second mortgage.

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This means that if a home's market value is $250,000, and the city holds a $100,000 silent mortgage, then the buyer's price is only $150,000. Please verify these prices with a Realtor as they are bound to change. Interested buyers must apply to the city to purchase one of these homes. The HOA is approximately $158 per month.

Amenities are minimal but include a swimming pool and a clubhouse. Residents get together for potlucks, card games, outings and more.

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Visit http://tinyurl.com/y74hwh4e for listings.

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California:

Thanks to the treaty that ended the Mexican-American War, the Golden State became a U.S. territory in 1847. Soon after, gold was found at Sutter's Mill. The land crowded with fortune seekers, and, shortly thereafter, California entered the Union as its 31st state in 1850.

California has 900 miles of coastline and claims the highest and lowest point in the continental U.S. Its terrain varies dramatically - from sandy beaches to rugged mountains, deserts to fertile farmland. Landmarks like Hollywood, Disneyland, and the Golden Gate Bridge play a large part in the nation's history and imagination.

Although Texas and New York have tried to close the gap, California's economy continues to be nation's largest. Agriculture, manufacturing, biotechnology, and tourism are some of its leading industries.

Cities of the Golden State have put some odd laws on the books. It's illegal to molest a monarch in Pacific Grove. Want to throw a frisbee on an L.A. County beach? Better ask a lifeguard first. What about bowling on the sidewalks of Chico? Strictly forbidden!

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Stats:

Population - 39,802,500

Persons 65 years old and over - 13%

High school graduates, age 25+ - 81.0%

Bachelor's degree or higher, age 25+ - 32%

Persons of Hispanic or Latino origin - 39%

White persons, not Hispanic - 39%

Median household income - $64,500

Median home value - $399,000

Social Security Taxed - No

Source: U.S. Census

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