The Value of a Carmel Lifestyle

I was reading the debut issue of San Francisco Cottage and Garden’s article by Lydia Lee, “Wonderfully Walkable,” which emphasizes a growing trend from buyers wanting properties walking distance to down town’s shops and restaurants. It struck me how this is particularly true in coastal Carmel-by-the-Sea. The number one request I get from vacation homebuyers is the ability to walk to Ocean Avenue and Carmel Beach. Buyers will consistently pay a premium for “walkability.” Let’s admit it, a walk along […]

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An Active Winter in Carmel-by-the-Sea

On the state level, the majority of California neighborhoods are reflecting pre-2003 levels. We’ve made our recovery and appreciation has leveled off, predicting slow and steady growth from here on out. We don’t expect the peak prices of 2005/2006 to return until 2021! Carmel’s current real estate market shows a consistent trend of tightening inventory, fewer closed sales and higher sales prices than previous years. But the recovery has been fickle. After a tepid summer, buyer activity rose along with […]

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Monterey Peninsula Dates to Remember: 2014

February 3-9                 AT&T Pebble Beach National Pro-Am 7                     Carmel Realty AT&T Party (Location TBD) March 7-9                   Dixieland Monterey April 5-6                   Pacific Grove Good Ol’ Days 10-13               7th Annual Pebble Beach Food & Wine 10-13               Sea Otter Classic 27                     Big Sur International […]

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A Look Forward: What to Expect in 2014

As 2013 comes to a close, I wanted to look back at the last few months and share some predictions on where 2014 may be going. The Monterey Peninsula led the recovery about 6 months ago. Activity, pricing and sales were all on the rise the first half of 2013. But the summer months leveled off. The enthusiasm over the national real estate outlook you are reading about in the media has already happened here. We were in front of […]

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A Summer Cool Down?

Spring represented a strong market recovery in our area with buyers at every turn wanting to get into the market before prices and interest rates rose. Sellers enjoyed stronger negotiating positions and sometimes multiple offers. The high-end market made a stunning come-back, not only with the Butterfly house selling for $16.5M, but shortly thereafter, we had an all time high sale at $28M on the 18th fairway at Pebble Beach. Despite all the good news, activity has cooled off in […]

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What a difference a year makes!

Spring Real Estate Market Update Last year our market was beginning to make a turn around, yet much of the year felt like a roller coaster ride. Although we aren’t yet experiencing the ultra competitive scenarios as they are in the San Francisco Bay Area, inventory levels are shrinking and buyer demand is on the rise. Stephen Vagnini, the Monterey County Assessor, expects to see a modest rise of 2% in property values throughout the county this year. Monterey County […]

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A Closer Look: The Golden Rectangle, Carmel-by-the-Sea

I wanted to follow-up on my most recent blog post, “An Inventory Shortage is Here”, and drill down on the highly sought after “Golden Rectangle” neighborhood of Carmel-by-the-Sea. This encompasses the area between Ocean Avenue to Santa Lucia and Scenic up to San Carlos. My observation is that our market has bottomed and we are just now seeing the beginning signs of a recovery. In the past it’s been all about “getting a deal.” We’ve had a high number of […]

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An Inventory Shortage Is Here

What a difference a month makes! January was our typically slow winter month, as I reported in my recent blog post, “Where is 2013 Headed?”. February has painted quite a different picture. Suddenly, there appear to be more buyers competing over limited inventory and a feeling as if this is really the last chance to “get in” before our market heats up. The San Francisco Bay Area is practically overheating with in some cases 30 offers, over asking, etc. We typically lag […]

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What Does “As-Is” Really Mean?

I often find buyers get scared when they see “as-is” in a contract or a seller is upset when they receive a “Request for Repairs” when they thought it was an “as-is” sale.  Does “as-is” mean “buyer beware”?  The term “as-is” is commonly misunderstood and a typical source of contention during the escrow period. First, it is important to note that all sales contracts start as an “as-is” sale.  After acceptance, the contingency period (most commonly 17 days) is the period […]

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Where is 2013 Headed?

These first few weeks in January have been sluggish with only 3 sales to date in Carmel-by-the-Sea. Looking back, 2012 was overall a very strong year. When you dissect the data further, the first 9 months were strong, with an especially healthy April through September, but we did see a slow down in the last quarter. With that said, the Monterey Peninsula market is a seasonal one.  Typically, activity slows in the fall and winter months and our busy season runs May through October.  This […]

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