We woke to good news Wednesday morning – US home sales near a 2 ½ year high. Commerce Department said rates hit the highest level since April 2010, increasing 5.7 percent to a seasonally adjusted 389,000-unit annual rate. Even more uplifting is that the April 2010 numbers were actually boosted by the first-time homebuyer tax credit. The numbers were better than many economists predicted, however, the Fed is opting to stay on course with its plans to continue buying $40 … Continue reading Positive News in the Housing Sector
As reported earlier, the California Coastal Commission and the Pebble Beach Company have reached agreement on the addition of a new hotel in Pebble Beach, additional conservation areas, and 90 new residential lots that will be sold or developed for single family homes. Rather than review the history, over the next few blog posts I will summarize the development plans and explain the location of the lots, hotel, protected area and other components of the project. For an overall summary … Continue reading New Residential Lots Approved for Development in Pebble Beach
Carmel Valley Real estate update including a discussion of sales price, inventory and residential home sales.
Real Estate market update for the Monterey California residential market. Including a discussion of home price trends and day on market and inventory comparisons.
Carmel Valley pricing slipped in mid 2007 and early 2008 and then suffered an additional decline from late 2008 through the spring of 2009. By giving back value early, Carmel Valley pricing while not appreciating did appear to have found a plateau in 2010 into early 2011 with a slip in values in late 2011. Much of the pricing variability is in the highest end of the market, discussed below. The “Valley” is the most geographically diverse of our markets … Continue reading Carmel Valley Residential Market Snapshot
Pebble Beach Home Sales Pebble Beach is known internationally for its golf courses, magnificent estates, the Pebble Beach Lodge, and 17 mile drive. It may come as a surprise to learn there are 2,900 developed lots in Del Monte Forest (Pebble Beach) the majority of which are homes under 2,800 square feet. While there are homes of larger size and higher price throughout the forest, the majority of the more expensive homes are located closest to the coast, the Lodge, … Continue reading Pebble Beach Market Snapshot
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
Trading a Home for a Home, or a Boat, or a Plane, or ? Every Realtor has heard a variation on the story of a buyer coming to them with an offer that goes beyond a creative financing proposal. Occasionally it is a straight trade for property elsewhere but on occasion the buyer might propose a trade for an airplane, a time share plus cash, and in at least one case I know of a race horse. While these deals … Continue reading Trading Houses? With the Difficulty in Securing Jumbo Loans Folks are Making Trades.
A Poorly Priced Carmel by the Sea or Pebble Beach Home Can Cost You Money and Time The table below shows all of the homes that have closed escrow between May 6th and July 3rd 2010 in Carmel, California. I have deleted the addresses from the table so we can focus on pricing as it relates to Days on Market and percentage of Original Price and List Price. I want to avoid a debate about a specific home and whether … Continue reading The Importance of Pricing- Recent Home Sales in Carmel by the Sea California
Selling a home in Carmel or Pebble Beach California can be challenging for a number of reasons, not least of which, this is a discretionary market:No one is ever forced to move here. There aren’t companies sending employees here or demanding that people live here to work for them. Many of the homes in our area are second homes. How Most Home Buyers Approach Carmel and Pebble Beach Proper pricing of a Carmel or Pebble Beach home is even more … Continue reading The Importance of Properly Pricing a Home to Sell