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
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The Importance of Pricing- Recent Home Sales in Carmel by the Sea California
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
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IPad Post Office Box and Credit Card Issue
As a bit of a “first adopter” when it comes to technology I stood in line on Friday to buy a 3G Ipad. There are lots of reasons, but professionally the aspect I am most excited about is being able to call up real time data and maps when out with clients looking at properties. There are lots of communities in the Carmel, Pebble Beach, and Carmel Valley area and often I set out with new clients to look at … Continue reading IPad Post Office Box and Credit Card Issue
FHA Loan Underwriting Standards will Tighten in 2010
Although FHA loans aren’t that common in Carmel and Pebble Beach, they are playing a role in other lower priced areas such as Seaside, Marina, and Salinas. Having said that, two of my recent transactions in Carmel-by-the-Sea have included FHA loans because the “cost of money” under the FHA loan was such that the buyer’s opted for the loan even though they could have paid cash. While the exact changes that will be coming are still being debated, it is … Continue reading FHA Loan Underwriting Standards will Tighten in 2010
Pebble Beach Real Estate Ranking in Forbes 500
Last week Forbes published their “by zip code” analysis of the most expensive zip codes. As expected, the median price of homes for sale in most zip codes fell over the last year. A year ago California accounted for 96% of the top zip codes, this year…less than 50%. Of the California zip codes still on the 500 most expensive zip codes, 83% had median prices that stayed the same or declined. Pebble Beach Pebble Beach experienced an 8% decline … Continue reading Pebble Beach Real Estate Ranking in Forbes 500
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Carmel Realty Company
Years ago, when I first became a Realtor, I considered all of the real estate brands in Carmel and Pebble Beach. I ultimately joined The Mitchell Group, a locally owned brokerage that defined the high end market in terms of the properties they represented and the level of service they provided to their clients. The Mitchell Group was purchased by Sotheby’s International, a Realogy and NRT brand. NRT is the nation’s largest residential real estate brokerage firm. Realogy (the parent … Continue reading Carmel Realty Company
The Market in the Santa Lucia Preserve
While the Santa Lucia Preserve, known locally as The Preserve, is a place apart from the rest of the world, it has not escaped the recent downturn in the economy. Unlike many developments across the country, and the world, The Preserve was well beyond its infancy when global financial uncertainty would have affected its operations and growth. There is over $200,000,000 worth of infrastructure paid for and in place within the 20,000 acres of The Preserve including a nationally ranked … Continue reading The Market in the Santa Lucia Preserve
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Trading Real Estate
My grandfather was a thoroughbred race horse trainer and obsessive trader. There were times he would head off to the track in a given truck and return later that night having traded it for an older model truck…and a colt. (As in horse, not beer or gun.) Trading is back in style in the current real estate market. A colleague of mine recently completed a trade of a large lot for a house. Another client considered a trade for a … Continue reading Trading Real Estate
Getting to Know Carmel Valley, Four Wheeling in a Prius
As most of my clients know I drive a Toyota Prius. I enjoy new technology and over the last couple of years have especially enjoyed the gas mileage. As a Carmel and Pebble Beach Realtor and with the number of miles I put on the car, a Prius is a nearly perfect vehicle for showing my clients homes and land for sale on the Monterey Peninsula. Of course, there are limitations. I also represent properties in Carmel Valley and have … Continue reading Getting to Know Carmel Valley, Four Wheeling in a Prius
Carmel River School Boundary. Second School Board Meeting.
Fair warning: This post may not be of interest unless you have kids at River Elementary School or are thinking of buying or renting a home in Carmel to send your kids to our exceptional public school system. Last night the Carmel School District held a board meeting at the Carmel River School with Jay Marden, the principal, presenting performance numbers and goals for the school. There were several excellent presentations. The board also heard from the district’s administration on … Continue reading Carmel River School Boundary. Second School Board Meeting.
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