Coachella Valley A Hot Market for Pacaso That Helps People Buy and Co-own a Luxury Second Home

By: Sharjeel Sohaib


Nov 3, 2021


Pacaso, a new online marketplace that helps people buy and co-own a luxury second home is expanding its operations in the Coachella Valley, Riverside, CA.

Some destinations where Pacaso has bought properties include Palm Springs, Palm Desert, Indian Wells and La Quinta, reports James B. Cutchin from Desert Sun. This makes Coachella Valley one the destinations that the co-ownership platform chose for expanding operations, directly and through local real estate agents.

Pacaso is currently valued at $1.5 billion, thanks to SoftBank Group’s investment and interest in the company. The group has made several high profile investments, however, it’s also critiqued for bloating the valuations of startups it invests in.

The Process of Co-owning a Second Home

Co-owning, or ‘fractional ownership’ is owning a share of the real estate itself and being issued a deed for the property, not a time that you can use the home. Pacaso makes the whole practice digital where you can do the following:

  • Searching 2nd Homes for Co-ownership: Browse single-family homes in second home destinations using Pacaso’s online marketplace. The portal lets you decide how many shares you would like to own.
  • Legal Cover: Pacaso creates a property LLC for each home. It also finds and vet co-owners, and handles all the sales details. At closing, the co-owners enjoy 100% ownership of the home. The portal, or the marketplace provider Pacaso does not own/retain any shares.
  • Post-purchase experience: Pacaso handles furnishings, repairs, utilities and property management of the newly bought 2nd home and co-owners just move in. A lot of workflow including scheduling visits is handled via Pacaso’s app and SmartStay™ technology.

Why Coachella Valley?

Consistently dry and sunny weather of Coachella Valley puts it in the top destinations people chose to visit or stay. The weather is a big reason why the real estate market here has seen consistent activity. In fact, the single family homes have surged in prices way more than other regions.

“Detached [single-family] home prices have been surging all year,”

Mike McDonald | Real estate research firm Market Watch LLC.

The market here in Coachella Valley is so hot that some houses sell within the first week of being listed.

“It sold in four days … we had 21 showings in three days that resulted in 11 offers,” says real estate agent Will Cook, of the Will Cook Group with Keller Williams Luxury Homes, adding that it sold nearly $100,000 over asking price.

“No I’m not shocked it’s pretty common,” says Cook about the price, adding that he recently had a home sell for nearly twice over that asking price.

Will Cook, | Will Cook Group 

The real estate agent further elaborates that the market is short in supply and demand/supply is the biggest factor determining high prices.

It’s all about supply and demand and the inventory is at an all time low, “Right now have .7 months of inventory available so in hard numbers that translates to 710 homes when we normally have 3000 homes at the market at this time.” (Will Cook)

It’s a Seller’s Market

Part of the reason Pacaso has chosen Coachella Valley is that the region is a ‘seller’s market’ right now with only 0.7 months of housing supply and new building permits (especially single family homes) not catching up with the demand.

This makes Pacaso even more willing to buy properties in the Coachella Valley and add alternate payment methods like cryptocurrencies.

Real estate is one of the big industries in the Inland Empire, or the big industry we might say. Another real estate tech platform called Sundae is trying to capture the market of selling dated homes that are in need of repairs.

Our goal at Startempire Wire is to act as a megaphone to connect the dots between the best startups, events, and people in the Inland Empire. Don’t forget to subscribe to our YouTube channel, and like/follow us on FacebookTwitter, and Instagram.  


  • Avatar Of Sharjeel

    Sharjeel joined Startempire Wire as emerging technologies editor. Earlier, he worked at Silicon Canals, a leading English language technology media source for the Benelux and wider Europe. He covered the European technology and startup ecosystem digging into latest funding rounds of startups.


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