As we move into the first phase of this year’s selling season, here’s a reminder that real estate has been the number one protection against inflation for 100 years. That hasn’t changed. We are here to be a part of your investment strategy team. You may be considering that vacation rental, a primary home you and your family want to build equity with, or simply a commercial property. We’re here for you. And the market is picking up.
Interest rates have dropped down to about 6% in January, and for the first time in over a year, we’re showing a national uptick in real estate sales. Now is a good time to take advantage of decreased competition in the markets, and look to refinance later on when rates drop some more…. As a reminder, while some Bay Area areas have adjusted, Carmel and Pebble Beach are still holding firm, year-over-year, with some areas of Carmel continuing to slowly increase in value and some of the less attractive homes and locations a little softer than before.
Today’s rates:
Conforming 30 yr fixed at 6.373%
Jumbo 30 yr fixed at 6.5%
FHA/VA 30 yr fixed at 5.875%
So, whats happening around town? The AT&T Pro-Amateur has arrived once again in Pebble Beach. Since we appear to have wrapped up the heaviest grouping of rains we’ve seen in probably a quarter century, folks around town are eager to get out and watch some golf in (hopefully) the sun. Renters are also out in force.. If you have a home you’ve been thinking about renting out for these busy periods, let me know and we’ll get you set up for the next event week. We are now able to handle luxury vacation leases at Sotheby’s Carmel.
For those of you who haven’t experienced the AT&T, it started in 1937 as the Bing Crosby Clambake. Its one of my all-time favorite events on the Peninsula and brings most of your favorite pros and a lot of celebrities pairings with folks like Bill Murray and his famous green-side antics. Movie stars, recording artists, famous athletes and finance guys are all mixed in together for one big golf party in one of the most beautiful places on earth.
Practice rounds for the AT&T started Monday, January 30th through today, Wednesday, February 1st. Thursday kicks off the official tournament, with Saturday bringing the biggest celebs and their pro-counterparts to the main course and Pebble Beach Lodge. Final round is Sunday. I hope to see some of you there!
As always, please scroll down to visit the market data in the link to our website, and reach out if we can be of service to any of your friends or family.
Cheers,
Ryan Melcher & Team
3310 17 Mile Drive, Unit #22
Pebble Beach  |  $12,350,000
Sitting in the Residences above the Lodge at Pebble Beach, this nearly 5,000 ft new build boasted views of Point Lobos, Carmel Bay and the course. Truly one of the choicest pieces of inventory we’ve seen in recent years, and a new record for the Residences, which also offer room service from the Lodge.
1010 Broncho Road
Pebble Beach | $3,190,000
Situated adjacently to the Monterey Peninsula Country Club, this historical 1920’s Hugh Comstock offered the new owners the perfect canvas to create their own vision.
Santa Fe 3 SW of 8th
Carmel-by-the-Sea | $3,200,000
This nearly perfect example of Carmel city’s most sought-after product, the 1,600 foot cottage on a 4,000 foot lot, sold in just 4 days in the Southeast quadrant of town. Easy maintenance and a quick walk to town are hallmarks of this type of offering, and typically sell very quickly.
