Water Credits or Fixture Units Are An Important Part of a Home’s Value We take water usage very seriously here on the Monterey Peninsula. In fact, we have a government authority that is in charge of water, called the Monterey Peninsula Water Management District (MPWMD) which was formed in June of 1978. To use water on the Monterey Peninsula, including Carmel, Carmel Valley, and Pebble Beach, one needs a permit from the MPWMD. You can’t install a water meter on a … Continue reading Monterey Peninsula Water Credits and their Importance When Buying or Selling a Home
Monterey Peninsula Water Credits and their Importance When Buying or Selling a Home
Posted in Carmel, Carmel Valley, Pacific Grove, Pebble Beach, Seaside, Water Issues Tagged Monterey Peninsula Water Management District, water credits Comments closed
Carmel River School “Over Crowding” Back in the News
The Carmel School District is recognized as one of the best school districts in California. (Great Schools ranking of the Carmel School District.) With the financial pressure on public schools given the California budget crisis, some neighboring districts are suffering with growing class sizes and reduced resources. We are lucky that the Carmel School district is well run and has a history of excellence along with a healthy tax base (although not as healthy as it once was.) We are … Continue reading Carmel River School “Over Crowding” Back in the News
Pebble Beach and Carmel Short Sales, Complex Financial Transactions
Short sales are occurring across all price levels on the Monterey Peninsula with the one home in Pebble Beach currently listed for sale at $5,950,000. These transactions can be complex with nearly always a “second” loan and often a third. In these cases the negotiation between the seller and the lenders is often the more challenging and time consuming than the negotiation between the seller and buyer. As a buyer of a short sale it is imperative that your agent … Continue reading Pebble Beach and Carmel Short Sales, Complex Financial Transactions
Number of Cash Buyers in Carmel, Pebble Beach, and Nationally Grows
Buyers with cash have always been an important part of the buyer population on the Monterey Peninsula. All cash buyers can often secure more attractive terms, especially in the middle market where competing buyers must secure a jumbo loan to buy a million to two million dollar home in Carmel, Carmel Valley, or Pebble Beach. A recent National Association of Realtor survey found that nationally 26% of transactions over the last few months have been closed by all cash buyers. … Continue reading Number of Cash Buyers in Carmel, Pebble Beach, and Nationally Grows
Are Banks Changing Their Strategy on High End Foreclosed Homes in Carmel and Pebble Beach?
Over the last six months the attitude of the banks selling REO (foreclosed properties) in Carmel, Pebble Beach, and Carmel Valley has certainly shifted. Initially, as the foreclosure wave began, the banks treated all foreclosed properties in much the same way. The key criteria was speed of sale. The banks would price the property to sell and hopefully even close escrow within 30 days of listing. Recent Carmel foreclosed homes range in the number of “Days on Market” but the … Continue reading Are Banks Changing Their Strategy on High End Foreclosed Homes in Carmel and Pebble Beach?
Small town Carmel; Golf, Car Shows, and Office Openings.
Sometimes people ask me why I live in such a small town. I often tell them that I enjoy the relaxed atmosphere, and the slow tempo of Carmel. Or that I really like the fact that when I walk the streets of Carmel going to our from the Carmel Realty office to the Post Office, I know a lot of the people I see. And, most of the time, Carmel is a small coastal town; however, there are a few … Continue reading Small town Carmel; Golf, Car Shows, and Office Openings.
Market Value Versus Market Price
I often get asked what I think the market value is of a home for sale in Carmel, Pebble Beach or elsewhere on the Monterey Peninsula. If the person asking the question is a buyer, the next question is often if I think it can be purchased for less. Sometimes the answer is “yes,” sometimes “no,” and sometimes “let me see what I can find out.” If it does sell for less, was I wrong about my estimate of the … Continue reading Market Value Versus Market Price
Recent Foreclosed / REO Home sales in Carmel, California
Carmel Foreclosed Home Sales in Last Six Months At the moment there are only three foreclosed homes listed for sale, but over the last six months a total of ten bank owned homes have sold in Carmel, California. On the high side there was a 4,226 square foot home at 24802 Eastfield Place that sold for $1,450,000 in March. The other extreme was a home on Canada Lane that sustained major damage when a tree fell through the roof. Some … Continue reading Recent Foreclosed / REO Home sales in Carmel, California
Currently Listed Carmel California REO / Foreclosed Homes
We do have foreclosed homes coming to market here in Carmel, California. While the number of foreclosures is well below the national average, they still have an impact on the market and are occasionally “deals” that are snapped up quickly once they are listed. Having said that, there are also times that investor (usually but not always a bank) lists a property at an unreasonable priced based on criteria other than market value and the home for sale will sit … Continue reading Currently Listed Carmel California REO / Foreclosed Homes
National REO Inventory
The Carmel and Pebble Beach markets continue to see foreclosures, but not at the rate of other areas of the country. In a non scientific tracking of area foreclosures, it seems that lenders are not holding REO inventory for Carmel, Pebble Beach, or Carmel Valley. They tend to move quickly with these “higher value” properties with only a matter of weeks between foreclosure and assignment of an agent and listing of the home. The strategy of when to bring a … Continue reading National REO Inventory
