As I have stressed in my Carmel Report and Pebble Beach Report, the credit crunch has made it difficult for many Carmel and Pebble Beach buyers that in the past would have opted for “no-doc” or “low-doc” loans. My friend Steve Woods at Blue Adobe Mortgage has provided the following update on the state of the mortgage market. Steve can be reached by email at stevew@blueadobemortgage.com or by phone at 831-917-4462. Give him a call for a quick quote and advice on how … Continue reading Loans for Homes in Carmel, Pebble Beach, Carmel Valley Update
Pebbble Beach and Carmel High End Homes Tracking with National Market?
The Pebble Beach housing market has softened somewhat, more so at the highest price point. The Carmel housing market is holding its own with a bit of strengthening at the upper end. First, a look at our markets, then some national numbers. To more accurately describe the real estate sub-markets, I report the median price in Carmel and Pebble Beach in quartiles. The most expensive 25% of homes make up the first quartile, the next 25% the third quartile, the next … Continue reading Pebbble Beach and Carmel High End Homes Tracking with National Market?
Posted in Market Update, Overall Market Tagged Carmel Real Estate, national trends, Pebble Beach Real Estate, Real Estate Market Comments closed
Carmel Real Estate Market Update 18 Nov 2008
There are 150 properties for sale in Carmel, with properties taking over 180 days to sell….when they sell. These days, the number of sellers that “give up” is well above past years. This is reflected in the higher number of expired and canceled listings. As the market has softened I have seen buyers shift their attention from areas such as Carmel Woods or south east neighborhoods of Carmel-by-the-Sea to closer to town and into the “golden rectangle.” Properties are still … Continue reading Carmel Real Estate Market Update 18 Nov 2008
Posted in Carmel, Market Update, Recent Sales Tagged Carmel Real Estate, Market Update Comments closed
Real Estate Areas in Carmel, Carmel Valley and Pebble Beach
I was showing clients property yesterday and the topic of “real estate areas” again came up. I always start a tour with a copy of the area map and an explanation of how it works. They were surprised to learn about “areas” although they had bought and sold several homes in Carmel and Pebble Beach. To help organize properties, the local real estate boards create “areas.” In theory the homes within a given area are more alike than not: built … Continue reading Real Estate Areas in Carmel, Carmel Valley and Pebble Beach
Carmel Valley Recent Home Sales, 1 August to 10 November 2008
Nineteen properties have sold in Carmel Valley, including those in escrow, since August 1st of 2008. Carmel Valley includes Cachagua, the next valley to the south from Carmel Valley. The Sales are listed below, by list price. As you will notice, many of these properties saw a price decrease from their original list price. As with elsewhere, sellers and their agents are reducing list prices in an effort to find the market. Tomorrow I will be posting updated Carmel … Continue reading Carmel Valley Recent Home Sales, 1 August to 10 November 2008
Posted in Carmel Valley, Recent Sales, Uncategorized Tagged Carmel Valley Real estate, Carmel Valley sales, recent home sales, Sold Homes Comments closed
Median Price Slide in Seaside, California
The median price in Seaside is down 50% since late 2006. Prices have dropped to levels that investors see an opportunity to cover much of the annual cost of the home through rents while betting that the properties will appreciate substantially in the coming years. Some of my clients have bought multiple properties and hired property management firms to manage their holdings. I have helped first time home buyers purchase homes when 24 months ago they thought they would be … Continue reading Median Price Slide in Seaside, California
Posted in Market Update, Seaside Tagged median price, Seaside homes for sale, Seaside real estate Comments closed
