Monterey Peninsula Real Estate News and Info

Carmel Fixer and other market activity

2008-03-05T21:36:17Z

The first quarter of 2008 is shaping up to be an interesting one here on the Monterey Peninsula. There has been a lot of activity in the REO or bank owned real estate world in regards to both more REO homes for sale in particular neighborhoods but also a lot more buyers making offers on REO properties. I have come across a number of REOs that had multiple offers in excess of 4 or 5 offers. Or I have come across short sale properties for sale that are priced very aggressively and are on the market one day and in escrow within the week or sooner. This is exciting to see this level of activity, and hopefully we will see more of this in the future. If you are a buyer out there looking to jump on an REO opportunity or find the right home, you need to be ready to take action immediately. Also, understand that REO homes for sale may receive multiple offers, so the opportunity to try and get the house for less than list price may cause you to lose out to another buyer with a full price or stronger offer. I have even heard that some banks are not even countering multiple offers but are just accepting the best offer received.

The buyer's market continues on as the inventory levels are remaining high. Some of the local markets are not as inundated with REOs as others but there are still sellers out there that want or need to sell and are looking for the list price to attract a buyer. There have been a few homes in Pebble Beach that have come on the market below $900K and even below $800K. The video footage of the Pebble Beach fixer I have on this blog is already in escrow. There are more homes coming on the market in Carmel too in the sub $1M range. Here is some video footage of a 1700 sq ft Carmel fixer for $749K:

CARMEL FIXER

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

Tips on Real Estate Investing in Foreclosures and Short Sales

2008-02-19T01:29:46Z

New Fixer Listing in Pebble Beach and other info

2008-03-04T23:27:55Z

The coastal cottage that kept the Pebble Beach Lone Cypress tree company just closed escrow today - for $15M, down from the original $19.9M. I toured the house and was a truely one of a kind place, only yards from the Lone Cypress and some dramatic ocean and shoreline views. Speaking of ocean views another Pebble Beach estate, more like a compound came on the market today overlooking the ocean and nestled along side the famous Cypress Country Club Golf course. The asking price - $8.9M.

Here are my two Pebble favorites for the week...something for everyone. We have a fantastic location with golf and ocean views on the front line of the Monterey Peninsula Country Club and easy walking to the beach nearby Bird Rock. This one is going for $3.1M. Then there is the fixer...we haven't seen a home in the Country Club area of Pebble Beach in this price range since around 2004. The house is in extremely rough shape with 3/2 1600+ sq ft on a huge 16K sq ft lot...for $799K. Be sure and watch the video for this home on this site here:

Pebble Beach Fixer

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

Real Estate is GREAT in 2008!

2008-02-03T22:23:12Z

Happy New Year to everyone...the first month of 2008 is a busy one with activity in numerous areas.

I've seen multiple offers on several bank owned homes spring up in the last couple weeks.

I've seen new listings come on the market one day and in escrow within a couple days...this just recently happened in Monterey and Carmel.

I've seen seller's reduce their prices on homes that didn't sell in 2007...we saw a ~$5M price drop just the other day in the "Butterfly House" in Carmel.

Interest rates are holding steady and conforming loan limits could be rising soon, so there is a lot of exciting activity happening...and it's only just begun!

I hope you have a GREAT 2008 too!

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

30 Jan - 4 Feb 2007 Hotsheet Update

2008-02-03T22:16:36Z

New Listings - 74
- 20 properties in Carmel
- 2/1, 897 sq ft property in Seaside for $549K and a 3/2, 1389 sq ft property also in Seaside for $609K
- Get a 6/4, 8315 sq ft property on 60 acres in Carmel Valley for $9.9M or a 5/4, 8442 sq ft property on 1.4 acres in Pebble Beach for the same price
- In Hatton Fields neighborhood of Carmel a 3/2, 1575 sq ft property is available for $1.970K

Reduced Listings - 32
- Average price reductions ~$91K
- In Marina another 3/2, 1464 sq ft property fell below $600K to $575K
- In Pebble Beach a 4/4, 6300 sq ft property was reduced $700K to $6.9M
- The South Coast had a property experience a healthy drop of $550K to $3.3M

Pending in Escrow Listings - 52
- 9 were in Pacific Grove and 8 in Carmel

Sold Listings - 27
- Average sale price below list priece ~$182K
- A property on the South Coast and in Pebble Beach sold for $1.4M and $1.2M less than list price repectively for sale prices of $11.5M and $8.2M
- On 17 Mile Drive in Pebble Beach two properties also sold for $750K and $700K less than list price for sale prices of $5.5M and $2.9M

Expired - 30, Canceled - 7, Withdrawn - 5
Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

27-29 Jan 2007 Hotsheet Update

2008-02-03T22:09:52Z

New Listings - 26
- Carmel had the most with 8 SFHs, 2 condos and 1 lot
- The highest priced property is a 3/3, 2175 sq ft home in Carmel for $4.2M
- The lowest priced property is a studio condo in a Carmel Valley senior community, 546 sq ft unit for $324K
- For homes the lowest priced property is a 3/1.5, 1188 sq ft home in Seaside for $695K

Reduced Listings - 7
- Average reduction amount ~$73K

Pending in Escrow Listings - 17
- Salinas-Monterey Highway region had 7 properties go into escrow
- Marina and Carmel each had 4
- 3 listings were just listed this month

Sold Listings - 3
- Average sale price reduction ~$52K
- 2 of the properties were in the Las Palmas community which is part of the Salinas-Monterey Highway region; they both sold under $800K for $780K and $765K
- The 3rd home was in Monterey and sold for $1.1M down from $1.2M

Expired - 3, Canceled - 2, Withdrawn - 2

Visit my website at www.ChristianHaun.comfor more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – Christian

22-26 Jan 07 Hotsheet update

2008-02-03T22:25:57Z

New Listings - 58
- 14 new properties are available in Carmel Valley; one of them is a 5/4, 10500 sq ft home for $8.5M
- 13 new properties in the Salinas-Monterey Highway region; 6 of these were homes in the Las Palmas neighborhood
- 9 new properties in Carmel; there is a 2/1, 1120 sq ft home for $799K
- In PG there is great opportunity on a 2/1, 929 sq ft home on a large 9100 sq ft lot for $639K
- On the condo side a 2/2, 950 sq ft unit is going for $425K
- On the home side a 2/1, 962 sq ft home in Seaside is going for $625K
- On the South Coast a 4/4, 12000 sq ft home on 1.5 acres is going for 12.5M

Increased Listings - 3
- A multiplex in Monterey was increased from $2.195K to $2.395K
- In PG a 22 unit 2/1 apartment complex was increased $150K to $4.1M
- A commercial property in Seaside was also increased $500K to $2.5M

Reduced Listings - 32
- Average price reduction amount ~$42k
- Get almost an acre in Pasadera for only $665K
- A 2/2, 1260 townhouse in PG was reduced to $610K

Back on the Market - 14

Pending in Escrow Listings - 38
- 10 properties were picked up in Carmel Valley
- 9 properties were picked up in Carmel
- In Marina a 3/2 1600 sq ft home listed for $599K is in escrow
- In Seaside a 2/1, 864 sq ft home listed for $488K was picked up
- On the South Coast 2.5 acres and a comercial property listed for $12M is in escrow

Sold Listings - 13
- Average sale price below list ~$64K
- In Monterey a 4/3, 2100 sq ft homes sold for $692K; it was listed for $785K

Expired - 9, Canceled - 8, Withdrawn - 5

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

20-21 Jan 07 Hotsheet Update

2008-02-03T22:12:30Z

New Listings - 17
- 5 in Seaside, 4 in Monterey, 3 in Pebble Beach
- A 1/1, 641 sq ft condo in Monterey is available for $341K and a 2/2, 789 sq ft condo for $425K

Reduced Listings - 7
- Average reduction ~$45K
- Another Marina opportunity; a 3/2, 1500 sq ft home for $599K

Back on the Market - 3

Pending in Escrow Listings - 4
- A 6/4, 9845 sq ft home in Pebble Beach went into contract with a list of $9.45M

Sold Listings - 4
- Average sale price below list ~$26K

Expired - 10, Canceled - 2, Withdrawn - 11

Visit my website at www.ChristianHaun.comfor more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

17-19 Jan 07 Hotsheet Update

2008-02-03T22:25:12Z

New Listings - 27
- 10 of the listings were in Pebble Beach; one of which is a bay view lot available for $699K

Reduced Listings - 15
- Average reduction ~$100K
- In the Carmel Golden Triangle there was a 3/3, 2275 sq ft home that was reduced nearly $700K to $2.795M
- There is a 3/2, 1786 sq ft home in Las Palmas available for $699K; it's a short sale so it could be a great opportunity

BAck on the Market Listings - 9

Pending in Escrow Listings - 15
- 3 homes in Pebble Beach and Monterey went into contract

Sold Listings - 6
- Average sale price below list ~$76K
- A condo, a business and a commercial building in Carmel all sold today

Expired - 7, Canceled - 4, Withdrawn - 17

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

16 Jan 07 Hotsheet Update

2008-02-03T22:24:31Z

New Listings - 8
- Ocean view homes in Monterey being sold as one property - a Victorian home and a duplex on a large 100x117 sq ft lot; the whole deal is going for $1.495M
- Want rental property in Pacific Grove? Get 22 - 2/1 units in the heart of PG for $3.95M
- A 4/4 custom home in Pebble Beach on a large 14K sq ft lot is available for $1.5M

Reduced Listings - 14
- Average reduction ~$102K
- Pebble Beach saw 2 big price reductions; a $450K and 300K drop respectively to $7.5M and $4.99M; these homes are in the estates area where the lots are big, .9 and 1 acrea respectively

Back on the Market - 5

Pending in Escrow Listings - 5

Sold Listings - 1
- $88K below list price to $1.6M

Expired - 1, Canceled - 6, Withdrawn - 2

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

15 Jan 07 Hotsheet Update

2008-02-03T22:23:54Z

Okay, here we go with a bit of a pick up...

New Listings - 11
- 6 properties in the Salinas-Monterey Highway area

Reduced Listings - 4
- Average price reduction ~$90K
- One listing was for a business in Marina reduced to $79K from $89K

Sold Listings - 1
- A 3/2, 1533 sq ft home in Seaside that sold for list price of $699K

Expired - 14, Canceled - 2

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

14 Jan 07 Hotsheet Update

2008-02-03T22:15:52Z

Another quite day...

New Listings - 3

Reduced Listings - 3
- Average price reduction = $62K
- In Marina $589K will get you a 3/2, 1580 sq ft home on a big 7000 sq ft lot; reduced from $599K

Pending in Escrow Listings - 5

Sold Listings - 0

Expired - 1, Canceled - 1

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

13 Jan 07 Hotsheet Update

2008-02-03T21:59:20Z

Today was very quite...

New Listings - 1

Reduced Listings - 0

Pending in Escrow Listings - 2

Sold Listings - 0

Expired - 3

Visit my website at www.ChristianHaun.com for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

12 Jan 07 Hotsheet Update

2008-02-03T21:57:48Z

New Listings - 11
- Get 2.5 acres with a 3/2.5, 2454 sq ft home all for only $899K in the Salinas-Monterey Highway corridor
- 4 new homes in Seaside and 5 in Carmel

Reduced Listings - 5
- Average price reduction = $76K

Pending in Escrow Listings - 9
- On the South Coast on Yankee Pt a 3/2.5 3353 sq ft home on a half acre went into escrow listed at $4.35M

Sold Listings - 9
- Average sale price below list price = $24K
- 3 homes sold at list price; pricing it right can be a big help in this area

Expired - 2, Canceld - 1, Withdrawn - 2

Visit my website at http://www.ChristianHaun.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

11 Jan 07 Hotsheet Update

2008-02-03T21:57:13Z

New Listings - 8
- 2 lots in upper Carmel are available with utilities for $599K and $699K; the later is 5.1 acres and the former is 2.8 acres and they are ajoining so they could be bought together; to top it off, owner may assist in financing
- A great beach tract home in PG is available; a 2/1.5, 1240 sq ft home is only a couple short blocks to beach and on a large 6600 sq ft lot
- A block from downtown Carmel a great value 3/3, 1600 sq ft home is available for $1.349M

Reduced Listings - 5
- $46K average price reduction

Pending in Escrow Listings - 4

Sold Listings - 4
- Average sale price below list price was $129K
- A Spanish Bay condo in Pebble Beach sold for $3M down from $3.5M
- An upper Pebble Beach home held firm at $1.08M

Expired - 4, Canceled - 6, Withdrawn - 1

Visit my website at www.ChristianHaun.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

10 Jan 2007 Hotsheet update

2008-02-03T21:54:29Z

New listings - 8
- Great price in Seaside! A 3/2, 1484 sq ft property for $618K; it looks like we're seeing Seaside follow the path of Marina in prices converging closure to $600K and below

Reduced Listings - 5
- Average reduction amount was ~$196K
- Want a lot in Pasadera? One just came down nearly $150K to $845K
- A Monterey Multiplex with ocean views was reduced nearly $300K to $2.195M
- In Seaside some commercial property was reduced $350K to $2M

Back on Market - 3

Pending Escrow Listings - 3
- A new construction "smart home" in Marina just went into escrow; I toured one of the 10 homes the other day; they are very nice, but they are more like large townhouses then homes as there is no yard and they are all attached to each other; the prices on the smaller units are competitive for brand new construction at $644K, you just miss the yard and neighborhood ammenities of other Marina homes priced at or below the $644K price; the "smart home" feature is nice; this is a single point system like a thermostat control, where you can control numerous other functions of the home like lights, TV, stereo, security, and of course heating

Expired - 3, Canceled - 2, Withdrawn - 3

Visit my website at http://www.MontereyBayLiving.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

5-8 Jan 2007 Hotsheet update

2008-02-18T23:55:11Z

It was a quite weekend so I waited a few days for things to pick up a little, plus it was my birthday...

New Listings - 27
- Some of these new homes coming on the market are not new as they have been on the market before, but instead of them coming back on the MLS as "Back on the Market" they have been off for awhile, or they are being listed by different agents so they get relisted as new
- Pebble Beach and Seaside both had the most new listings at 6 apiece; one of the Pebble listings is an estate sale; I saw it the other day and it has great potential in a great Country Club location, going for $1.4M; there is also a lot in Pebble with an asking price of $4M; it's 2+ acres and has ocean view potential
- I saw a new 3/2, 1500 sq ft property in the Old Monterey neighborhood; great sunny location not far from down town and the wharf; going for $869K
- 2 vacant lots were listed in Monterey; great location, great size, no water; $449K each
- A large mixed residential/commercial property in Seaside for $1.495M; $102K reported as scheduled annual income currently on property

Reduced Listings - 12
- $82K was average price reduction
- A South Coast 4/2, 3000 sq ft, 5 acre property came down $400K to $2.5M

Back on the Market - 14

Pending in Escrow Listings - 19
- This looks like a pretty nice pace for coming off the New Year holiday
- 6 properties were from Carmel; one of which was listed at $6.7M
- In Monterey a 2/1.5 condo went into escrow listed at $449K
- A commercial property in Seaside was picked up; listed at $1.3M

Sold Listings - 6
- Average sale price was $86K below list price
- A 4/3, 2225 sq ft property in Carmel and a 4/3, 2930 sq ft property in Pebble Beach both sold for $200+ below list at $4M and $2M respectively
- A 3/2 in Marina sold for list price of $599K
- A 2/1 Marina condo sold for $5K more than list at $386K

Expired - 9, Canceled - 2, Withdrawn - 3

Visit my website at http://www.MontereyBayLiving.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the laceName w:st="on">CentrallaceName> laceType w:st="on">CoastlaceType> or anywhere in the world...have a great day! – C

9 Jan 2007 Hotsheet update

2008-02-03T21:54:01Z

New Listings - 6
- $599K gets you a 3/2, 1500 sq ft home in Marina
- Pacific Grove has 3 new properties; one near the ocean for $1.9M
- Get a business in Seaside for $215K

Reduced Listings - 5
- Average price reduction: $45K
- Seaside has a 3/1.5 now listed at $499K down over $70K

Back on the Market - 4

Pending in Escrow Listings - 6
- 3 were from Pacific Grove; 3 come on, 3 go off; one of which was a 2/2, 1299 sq ft property listed at $859K
- 15 acres in Carmel Valley was picked up with a list price of $1.9M

Sold Listings - 4
- Average sale price below list price was $50K
- A 3/3, 1600 sq ft property in Marina sold for list price at $699K
- A Seaside business sold for $120k less than list price at $130K

Expired - 3, Canceled - 3, Withdrawn - 1

Visit my website at http://www.MontereyBayLiving.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

4 Jan 2007 Hotsheet update

2008-02-03T21:52:56Z

TGIF...

New Listings - 8
- There is a 2/2, 1700 sq ft condo new to the market in the Salinas Monterey Highway area for $599K
- Looking for a business opportunity in the Golden Triangle of Carmel...a 4 room inn is on the market for $3.9M; it has 3, 1/1s and 1, 2/1 with the seller wanting to carry the financing - okay!

Reduced Listings - 7
- Average price reduction ~ $50K
- A 4/3.5, 4000 sq ft home on 2 acres came down $180k to $1.99M
- In Seaside a 3/2, 1200 sq ft home is down to $562K

Back on Market - 5

Pending in Escrow Listings - 4

Sold Listings - 6
- Average sale price below list was $660K, thanks to a big drop in a South Coast property that was listed for $9M and sold for $6.5M
- A 2/1, 800 sq ft home in Monterey sold for $565K

Expired - 1, Canceled - 3, Withdrawn - 2

Visit my website at http://www.MontereyBayLiving.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C

3 Jan 2007 Hotsheet Update

2008-02-03T21:52:29Z

Happy Thursday, and thanks for stopping by my real estate blog...

New Listings - 8
- Get a lot in Pacific Grove for $250K, but you'll have to wait for water...#24 on the wait list

Reduced Listings - 7
- Average reduction amount ~$50K
- In Seaside a ocean view fixer came down an additional $10K to $465K
- On the South Coast the Highlands a 3/3, 2950 sq ft home on just over an acre was reduced $200K to $1.695M

Back on the Market - 12

Pending in Escrow Listings - 8

Sold Listings - 5
- Average sale price below list price ~$790K
- There were a couple listings in Pebble Beach that sold significantly below list which caused the average sale price to be so big; take them out and the figure would be $11K; one home was a 4/4, 6993 sq ft on just over 2 acres that was listed for $5.9M and sold for $4.9M; the other home was a 5/4, 4400 sq ft on an acre that was listed for $7.85M and sold for $5M

Expired Listings - 3

Visit my website at http://www.MontereyBayLiving.com/ for more real estate info. Feel free to contact me if you have any questions about the above info, or if you have any questions about buying or selling real estate here on the Central Coast or anywhere in the world...have a great day! – C