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
Pebble Beach Company and Coastal Commission Agree on New Home Sites and Real Estate Development in Pebble Beach
The last couple of weeks have seen a great deal of discussion about how the “historic” compromise between the Pebble Beach Company and the California Coastal commission will impact life in Pebble Beach, home values, and opportunities to buy a vacant lot and build a new home. Rather than review the sordid history of lawsuits, referendums, etc., I will summarize the development that Pebble Beach will pursue, including the development of a new 100 room hotel, expansion of both Spanish … Continue reading Pebble Beach Company and Coastal Commission Agree on New Home Sites and Real Estate Development in Pebble Beach
As expected, the Coastal Commission has approved Pebble Beach Company’s revised development plan, most recently rejected in 2007. The plan is a departure from the original intent years ago to build another golf course. The approved plan includes the construction of 90 new homes. News Coverage of the approval. The Staff Report that was the basis for the vote runs 195 pages.
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
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
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
The water situation on the Monterey Peninsula (Carmel, Carmel Valley, Pacific Grove, Monterey, Pebble Beach) is about as clear as mud– so stay with me for a quick synopsis and an update. Cal-Am, the local water company, is violating a number of orders/laws/regulations by “over pumping” the Carmel River. Most of the restrictions have to do with protecting the Steel Head breading that occurs in the river. This over pumping/water shortage is the basis for the existence of the Monterey … Continue reading Water Stay Lifted on Monterey County Water Use
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
Market Profile There are currently 5 Pebble Beach properties in escrow ranging in list price from $1,745,000 to a vacant lot listed for $300,000. (Current Pebble Beach Pending Sales) There have been 13 closed sales in Pebble Beach since October 1, 2008, ranging in sale price from $3,150,000 to $675,000 (Pebble Beach Sales since 10/1/2008). As with other Peninsula markets, Pebble Beach remains firmly at the “buyer’s” end of the spectrum with 207 average days on market. While Pebble Beach … Continue reading 23 January 2009, Pebble Beach Real Estate Update
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?