I am wondering if the Joshua Tree market is still worth investing. Currently there are numerous active rentals on the market based on AirDNA market overview. Additionally, the median sold price has significantly gone up. Any recommendations would be appreciated.
You have to be very careful with where you buy in 29 Palms. There is a large area north of the 62 that has massive dust clouds on windy days that blow over from the dry lake bed in Joshua Tree.
I cant believe the stumps is a destination. I was stuck in that dust hole for 2 years in the USMC and couldn't wait to GTFO.
You have to be very careful with where you buy in 29 Palms. There is a large area north of the 62 that has massive dust clouds on windy days that blow over from the dry lake bed in Joshua Tree.
Thanks for the tip Jason - which area is this exactly, the "large area north of 62"? And are there specific seasons / times of year where this happens more frequently?
Looking at a few properties, but would like to avoid this area. can already imagine the Airbnb reviews 😅
There is a dry lake bed at the very east end of Joshua Tree and on windy days (there are windy days throughout the year in the high desert), the massive dust clouds from the dry lake bed hugs the mountains just north of the 62 between Joshua Tree and 29 Palms and dumps into 29 Palms, east of Mantonya, south of 2 Mile Rd. Also note that 29 Palms has a 500 STR permit cap.
You have to be very careful with where you buy in 29 Palms. There is a large area north of the 62 that has massive dust clouds on windy days that blow over from the dry lake bed in Joshua Tree.
Thanks for the tip Jason - which area is this exactly, the "large area north of 62"? And are there specific seasons / times of year where this happens more frequently?
Looking at a few properties, but would like to avoid this area. can already imagine the Airbnb reviews 😅
There is a dry lake bed at the very east end of Joshua Tree and on windy days (there are windy days throughout the year in the high desert), the massive dust clouds from the dry lake bed hugs the mountains just north of the 62 between Joshua Tree and 29 Palms and dumps into 29 Palms, east of Mantonya, south of 2 Mile Rd. Also note that 29 Palms has a 500 STR permit cap.
Gotcha, thanks for the clarification and for the heads up on the cap - a real estate agent told me yesterday that they've already hit the cap for inside 29 Palms city limits, but if the property isn't inside the actual 29 Palms city limits then it should still be fine.
Apparently some properties say 29 Palms as the city on Zillow but are actually outside the city limits and so fall under SB county regulations (no STR cap for the moment)
Gotcha, thanks for the clarification and for the heads up on the cap - a real estate agent told me yesterday that they've already hit the cap for inside 29 Palms city limits, but if the property isn't inside the actual 29 Palms city limits then it should still be fine.
Apparently some properties say 29 Palms as the city on Zillow but are actually outside the city limits and so fall under SB county regulations (no STR cap for the moment)
In addition to the comment from @Jason Kudo I don't think 29 Palms has the most advantageous location because you have to drive past JT from the LA area to get to it. Maybe that's not a big deal, but I think there are locations that are more strategic and have better access to amenities and other cool areas in the high desert.
Gotcha, thanks for the clarification and for the heads up on the cap - a real estate agent told me yesterday that they've already hit the cap for inside 29 Palms city limits, but if the property isn't inside the actual 29 Palms city limits then it should still be fine.
Apparently some properties say 29 Palms as the city on Zillow but are actually outside the city limits and so fall under SB county regulations (no STR cap for the moment)
In addition to the comment from @Jason Kudo I don't think 29 Palms has the most advantageous location because you have to drive past JT from the LA area to get to it. Maybe that's not a big deal, but I think there are locations that are more strategic and have better access to amenities and other cool areas in the high desert.
I've heard from some sources that 500 limit is going to be looked at again and may not stick. Someone who spoke to the gentlemen who put out that brilliant idea of a 500 cap. I've heard they are going to look at a percentage again. We own a STR there and currently working on another project in Pioneer Town. Many locals and RE agents I talk to are bullish on 29.
Ben Uyada's project a shipping container hotel was approved and going in south of HWY 62 https://hidesertstar.com/news/...
https://upzone-socal.com/93-room-shipping-container-hotel-proposed-in-the-city-of-twentynine-palms/
As well as a 95 unit hotel right downtown https://z1077fm.com/twentynine...Hotel developers don't build in areas that arent trending up.
New Stars and Snakes bar going in, new restaurants, the owners of Giant Rock Meeting Room are opening up a spot in 29
Lots going on in conjunction with the downtown specific plan https://www.ci.twentynine-palm...
You have to be very careful with where you buy in 29 Palms. There is a large area north of the 62 that has massive dust clouds on windy days that blow over from the dry lake bed in Joshua Tree.
Thanks for the tip Jason - which area is this exactly, the "large area north of 62"? And are there specific seasons / times of year where this happens more frequently?
Looking at a few properties, but would like to avoid this area. can already imagine the Airbnb reviews 😅
There is a dry lake bed at the very east end of Joshua Tree and on windy days (there are windy days throughout the year in the high desert), the massive dust clouds from the dry lake bed hugs the mountains just north of the 62 between Joshua Tree and 29 Palms and dumps into 29 Palms, east of Mantonya, south of 2 Mile Rd. Also note that 29 Palms has a 500 STR permit cap.
Gotcha, thanks for the clarification and for the heads up on the cap - a real estate agent told me yesterday that they've already hit the cap for inside 29 Palms city limits, but if the property isn't inside the actual 29 Palms city limits then it should still be fine.
Apparently some properties say 29 Palms as the city on Zillow but are actually outside the city limits and so fall under SB county regulations (no STR cap for the moment)
Yes, depending on where in 29 Palms, a property may be governed by the town of 29 Palms or the County of San Bernardino. In general, all properties south of the 62 in 29 Palms are governed by town and above the 62, anything below Amboy is also usually within town limits and then as you push farther north and east, it becomes county. The 500 cap has already been exceeded and all current prospects are on the waiting list.
Gotcha, thanks for the clarification and for the heads up on the cap - a real estate agent told me yesterday that they've already hit the cap for inside 29 Palms city limits, but if the property isn't inside the actual 29 Palms city limits then it should still be fine.
Apparently some properties say 29 Palms as the city on Zillow but are actually outside the city limits and so fall under SB county regulations (no STR cap for the moment)
In addition to the comment from @Jason Kudo I don't think 29 Palms has the most advantageous location because you have to drive past JT from the LA area to get to it. Maybe that's not a big deal, but I think there are locations that are more strategic and have better access to amenities and other cool areas in the high desert.
I've heard from some sources that 500 limit is going to be looked at again and may not stick. Someone who spoke to the gentlemen who put out that brilliant idea of a 500 cap. I've heard they are going to look at a percentage again. We own a STR there and currently working on another project in Pioneer Town. Many locals and RE agents I talk to are bullish on 29.
Ben Uyada's project a shipping container hotel was approved and going in south of HWY 62 https://hidesertstar.com/news/...
https://upzone-socal.com/93-room-shipping-container-hotel-proposed-in-the-city-of-twentynine-palms/
As well as a 95 unit hotel right downtown https://z1077fm.com/twentynine...Hotel developers don't build in areas that arent trending up.
New Stars and Snakes bar going in, new restaurants, the owners of Giant Rock Meeting Room are opening up a spot in 29
Lots going on in conjunction with the downtown specific plan https://www.ci.twentynine-palm...
Sure some are bullish on 29 Palms but you have to bring this into the context of where 29 Palms used to be. Most locals will tell you they never thought 29 Palms would be anything more than a dust bowl so having seen the development go from 0 to 1 which is a lot in 29 Palms terms can cause some bullish excitement. I just worry that 29 Palms was late to the party and starting their development push at the top of the current debt cycle will come back to bite them. It doesn't make sense for them to make this big development push to capture some of the tourism money flowing into the high desert but then severely limit the number of STRs and not collect on the transient occupancy tax front. There might be some confused people in the town's leadership that don't know what they are doing.
@Jason KudoThey'll still get ToT from the hotels. Those two approvals right there are another 160 rooms. Just today I spoke to the owner of the storage facility on HWY 62 they own the old grocery store right next to it. They are turning it into a retail shop with 6 different businesses, and the owners of Grnd Sqrl are opening up another bar on the strip. I don't think there is any party to be late to honestly. The whole hi-desert has a long way to go outside of just the national park. There are still not a lot of places to get brunch, dinner, and drinks. Joshua Tree Saloon is still the main attraction down there with some new ones like Awe Bar in YV but entertainment is still lacking for the number of annual travelers. Doing a simple google search of "bars and restaurants" doesn't bring up many options. The hi-desert will look a lot different 5-10 years from now. It may be getting saturated in some markets for STRs (we'll see what SB Country does) but for business and entertainment, I expect lots more to come and everyone will benefit.
@Jason KudoThey'll still get ToT from the hotels. Those two approvals right there are another 160 rooms. Just today I spoke to the owner of the storage facility on HWY 62 they own the old grocery store right next to it. They are turning it into a retail shop with 6 different businesses, and the owners of Grnd Sqrl are opening up another bar on the strip. I don't think there is any party to be late to honestly. The whole hi-desert has a long way to go outside of just the national park. There are still not a lot of places to get brunch, dinner, and drinks. Joshua Tree Saloon is still the main attraction down there with some new ones like Awe Bar in YV but entertainment is still lacking for the number of annual travelers. Doing a simple google search of "bars and restaurants" doesn't bring up many options. The hi-desert will look a lot different 5-10 years from now. It may be getting saturated in some markets for STRs (we'll see what SB Country does) but for business and entertainment, I expect lots more to come and everyone will benefit.
At the last city council the mayor made a motion to bring the entire STR policy back to the council. I strongly believe they are going to amend the 500 cap and change it to a percentage to spur growth and development. Meeting minutes attached
