Dearest Friends, As we recoil from all the eating and drinking of last week, I cannot help but be thankful for all the special people in my life. We were fortunate to be visited by some family from back East, and take a much needed (half) week of relaxation from what was a busy and prosperous year. November brought with it the typical seasonal slowdown in Carmel and Pebble Beach, made more evident by...
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For March we saw the market gain a little more momentum on the Monterey Peninsula. Carmel and Pebble Beach maintained activity growth as we moved into Springtime. Nationally, we even saw the number of "underwater" homes (that is, homes whose market value are less than what is owed on the home) decline. We're seeing a lot of strong indicators for a continued housing recovery on both the national level, and...
We can feel Spring season coming upon us with reawakened interest in the high end markets! I'm hoping for more inventory to match demand. I myself have a 3 bed, 2 bath view home on Tierra Grande in the Valley coming to market next week. Expansive views in need of just a little updating. I expect it to sell rather quickly. The downtown Carmel area picked up the pace last week with 4 out of 8 Carmel...
February continued what is starting to seem like a tradition of low inventory here on the Peninsula. Buyer demand is high as we edge closer to the Spring selling season, and Washington's fabled Sequester appears to have had little impact on the desirability of Carmel and Pebble Beach real estate. Lucky us! Most of our hardest hit, high-end areas have either firmed or ticked up in value over the last year....
Life here on the Monterey Peninsula slowly got back to normal last week. AT&T golf week brought the usual crowds and excitement, and with it a healthy spike in activity after a quieter January. There were a total of 3 closed transactions in Carmel, none of which were in the Golden Rectangle, an area where we're seeing a firmer market and a severe lack of inventory. Two, 2 bed/2 bath cottages sold just...
Happy (Almost) Holidays! The lights are up on Ocean Avenue, and holiday shopping has begun. Real estate-wise, things finally started to slow in our overall market for October. This is typical as we approach the holiday season. Carmel remained fairly strong while other upper end areas such as Pebble Beach and the Carmel Highlands quieted, noticeably. Below are your October statistics. Pebble Beach yielded...
Sellers can be very unrealistic about price. There are several problems with this, some obvious, others not so obvious. For the most part, the reason for this is what is called the endowment effect. Behavioral economics studies find that humans tend to overvalue their possessions compared with the value the market will actually bear for those possessions. It's important for home sellers to remember that...
September surged forward with Carmel and Pebble Beach real estate both increasing in sales activity. Carmel Highlands real estate stayed about level with August, and Carmel Valley real estate more than doubled it's production from the previous month. This year has really been one for the books. 2011 was marked by stubborn sellers, rigid buyers and 6 month escrows that loved to fall out right before closing...
Please excuse the August market update being so late this month- We had some technical difficulties with our website's back end that took quite awhile to resolve. Back in business now! Just a quick breakdown of the market for this month.... August brought with it a slowing of new home sales that is typical as we break into the Fall quarter. Specifically, Carmel Valley and Pebble Beach new activity dropped...
Car week is upon us! Come next week, the Monterey Peninsula will experience an influx of car enthusiasts and rare automobiles from all over the world. Being somewhat of a self-proclaimed car guy, his is my favorite event of the year. If I'm going to sit in an hour of traffic to go from Carmel Valley to downtown Carmel-by-the-Sea, I would prefer to look at Italian sports cars and one-off prototypes...