distressed

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
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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
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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
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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
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