SALTON SEA – THE EARLY YEARS

LOT VALUES ESCALATION FROM 1960-2007

Most of the Salton Sea lots were sold by the original developers in the early years from 1960 to 1965 for $2,000 to $5,000 per lot. A few hundred homes were built in the early 1960’s in all of the small towns surrounding the Salton Sea, namely, Bombay Beach, North Shore, Desert Shores, Salton Sea Beach and Salton City. The values of the lots at the Salton Sea communities did not escalate or appreciate much throughout the 1970’s or 1980’s. Very few homes were built until the 1990’s. 30,000 to 40,000 lots laid vacant for 30-40 years around the Salton Sea.

Mike Joynt and a few other entrepreneurial realtors opened branch real estate offices in various towns around the Sea and started selling affordable lots and homes. Joynt was instrumental in the recent growth of the Salton Sea as he pioneered selling low cost land to families, investors and builders. Joynt opened his first branch real estate office in North Shore in 1993 and expanded in 2004 with a second office in Palm Desert when he married licensed real estate broker, Debbie. They formed their current corporation, Joynt Ventures Realty, Inc. and opened a third office in Salton City in 2006.

RESIDENTIAL LOTS APPROXIMATE APPRECIATION FROM 1960-2007

Waterfront lots currently sell from between $50,000 to $150,000 depending on size and amenities.

The residential lots have approximately doubled in value the past 7 years. Lot values are also determined by road access, close proximity of utilities, location, size, views and commercial development.

COMMERCIAL LOTS APPROXIMATE APPRECIATION FROM 1960-2007

In the last 3-4 years, over 400 new homes have been built in the various Salton Sea communities.