Unfortunately we aren't playing the Monopoly board game and it looks like we going to need more than paper money and little green houses to afford the American dream in the Bay Area and Monterey Peninsula. According to the California Association of Realtors affordability index, which is based on sales in the fourth quarter of 2017, it will now take a household income of $303,000 to buy a median-priced home in San Francisco. The index approximates the percentage of households

Building a home is never easy and cost to build can vary across the country. In Monterey County, cost per foot can range from $200-$1000 per foot depending on materials and location. There are a lot of factors that contribute to the home building price tag. In 2017, larger-than-expected cost increases topped the list of biggest market surprises according to a survey of more than 300 home building executives conducted by John Burns Real Estate Consulting. The biggest surprises

Have you experienced any of these issues when buying or refinancing your home?...... As a realtor and previous REO Manager, all of these problems have come up at one time or another. Financing is a big one so it's very important to make sure you have all your documents in order, you've done everything to keep your credit clean and you pay close attention to your loan officer and get documents to them in a timely manner! #monterey #financing #lending #credit #appraisal

RentCafe analyzed data to see in which cities where winter expenses put a strain on renters the most and the least. As we all know, rents have been skyrocketing in the past few years and the winter holiday season can take an even bigger bite out of consumers’ paychecks. But some renters are finding they still have plenty of money left in the bank at the end of the holiday season. For example, renters in Virginia Beach, Va., and Wichita, Kan., are considered among the lucky fe

Bamboo is making its way into more home interiors. From flooring, window treatments to wall accents, furnishings and more, this sustainable material is popping up everywhere. Why?: Bamboo is widely available and more affordable than many other wood products. Bamboo is traditionally considered a type of wood flooring, but it’s actually not a wood at all, but a grass. And at growth rates of three to five feet per year, bamboo is one of the fastest growing plants on Earth, which

With the blazes still threatening California, Realtor.com® offers these fireproofing tips: Take extreme caution with eucalyptus trees. The oil in eucalyptus trees is highly flammable and can cause the trees to explode when on fire. Remove these and other large trees near a home’s structure to help prevent fires from spreading to the house. Keep your yard clear of brush. Bushes, shrubs, dead branches, and vegetation near a home can be dangerous in a wildfire. At least 20 yards

We would all like to have a garage, right? The car stays cleaner and warmer and we use every vacant shelf to store holiday decor, sports equipment and who knows what. Unfortunately, In our local cities, many of our homes have a carport, a small one car garage or no garage at all. In Carmel by the Sea, most lots are 4000 square feet so space is tight. Pacific Grove has even smaller lots in the downtown area so street parking is fairly standard. Multiple garages are a luxury h

It's all over the news.......apparently there is a Christmas tree shortage and prices are up 10% over last year! To put it in perspective, the average buyer spent $36.50 on a Christmas tree in 2008 and $74.70 in 2016. Don't worry, you will still be able to get a tree but the selection might be less especially as you head into Christmas week. What happened? ........... Less consumers bought Christmas trees during the financial crisis in 2008, and growers responded by cutting d

Do you think traffic is getting worse? For those of us that live on the Monterey Peninsula, we get flustered when southbound Highway 1 backs up on a weekend or "commute traffic" comes to a crawl heading out of Monterey. We may want to reconsider our plight if we compare our traffic to the Bay Area and other parts of the country...it looks like we're in pretty good shape. Inrix, a research company focusing on transportation, ranked 100,000 traffic hotspots based on the cost of

Happy Cinco De Mayo! Do you know the origin of this day? According to Wikipedia, the date is observed to commemorate the Mexican Army's unlikely victory over French forces at the Battle of Puebla on May 5, 1862, under the leadership of General Ignacio Zaragoza. In the U.S. the date has become associated with the celebration of Mexican-American culture. In Mexico, the commemoration of the battle continues to be mostly ceremonial, such as through military parades. MARKET STAT

Last week we had an 8% increase in inventory. Sales and new escrows are up as well. Overall, it's been a very positive week! Let's take a look.... MARKET STATISTICS Here’s the summary of Monterey Peninsula real estate activity reported on MLS for the week of March 10th: New listings – 29 Off Market - 12 New escrows – 38 Closed sales – 33 Largest sale - $8 Million in Carmel Inventory – 439 Price reductions – 29 32% of new listings were over $1 million. Salinas and Seaside list

It's a great time to explore the area, now let's explore the local market!

Quick overview of the local Monterey Peninsula Market

MARKET STATISTICS Here’s the summary of Monterey Peninsula real estate activity reported on MLS for the week of March 10th: New listings – 53 Off Market - 10 New escrows – 35 Closed sales – 34 Largest sale - $3.3 Million in Pebble Beach Inventory – 430 Price reductions – 21 This week we had a strong surge in new listings, nearly doubling last week's numbers. Both closed sales and new escrows increased by 25%, and price reductions inched up slightly. Here are some highlights:

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