Interest rates were at an all time low last year and although historically speaking getting a loan is still a bargain, rates have been inching upwards. The jury is out whether our market is further declining or rebounding. I personally believe we are at the bottom and although the next couple of years may be a roller coaster ride, we will see a modest recovery. With that said, there are still buyers out there who are waiting for more foreclosures to hit and … Continue reading The Rising Cost of a Declining Market

A moratorium on new water connections was unanimously approved today by the California Public Utilities Commission (CPUC).  This moratorium affects all new connections or intensification of water use on any property serviced by Cal-Am. Exemptions to this moratorium include Pebble Beach property owners, Ralph Lane, Chular, Bishop, Ambler Park, Ryan Ranch, Hidden Hills and the Toro subsystems. Additionally, any new service connections that were approved before October 20, 2009, are also exempt. More clarity is necessary to truly understand the impact of … Continue reading Water Update: Moratorium Approved

The luxury market is showing signs of improvement across the U.S. in the first few months of 2011. The top 5 sales for the Monterey Peninsula so far this year are all in prestigious Pebble Beach California: 3180 Cortez sold for $11,250,000 in an “off market” sale represented proudly by Carmel Realty. 3361 17 Mile Drive which sold in 13 days for $7,450,000, 83% of the original list price. 3105 17 Mile Drive sold for $6,500,000. 1553 Riata sold for $4,500,000. 3217 Whitman Lane … Continue reading Pebble Beach Leads Our High-End Recovery

  Foreclosures and short sales are undoubtedly part of the real estate market today, even in the Carmel & Pebble Beach markets. One such foreclosure closed escrow over the weekend: 1560 Viscaino Road in Pebble Beach. This was an incredible deal! The home is located in central Pebble Beach, steps above the Lodge at Pebble Beach, with substantial ocean views no less. Recent sales in the neighborhood have closed between $1.6M (without an ocean view) to $4.5M. The home itself had great … Continue reading Distressed Property Sales in the High End Market

I get this question a lot. What is the Golden Rectangle? Realtors use the phrase “Golden Rectangle” all the time, and buyers don’t always know what we are referring to. It is literally a rectangular area outlined by Ocean Avenue, Scenic Avenue along Carmel Beach, Santa Lucia and San Carlos Street; and defined as area “143″  on the map below. (You can also click on this link for a PDF: carmel-area-map-in-color.) What you’ll find in this highly desirable area is typically a 1,600 sf, 3 bedroom, … Continue reading What is the Golden Rectangle in Carmel-by-the-Sea?