It has been a busy week for PG&E, emergency crews and tree removal companies! The storms downed trees in every town on the Peninsula and at some point or another, we were all dealing with power outages. This week has been a good reminder of how important it is to be prepared for disasters. I need to do a better job of not letting my gas tank run down to empty. A colleague of mine spent hours on Highway 101 waiting to turn around after Coyote Creek flooded the freeway. Another friend needed gas and had to drive to 4 gas stations before he found one that was open! Be careful out there!
Weather forecasts indicate a 40% chance of rain this weekend! We need some time to regroup so hopefully the rain will remain at bay for a few days!
Here’s the summary of Monterey Peninsula real estate activity reported on MLS for the past seven days:
New listings – 23
Off Market - 24
New escrows – 30
Closed sales – 20
Largest sale - $3.850 Million in Carmel
Inventory – 427
Price reductions – 15
Listings dropped by half this week and properties going off market (expired listings, cancellations & withdrawals) doubled. Inventory declined slightly, sales and new escrows remained static.
83% of this week's listings were under $2 million, 56% of new listings were under $1 million.
The highest priced listings were at the Preserve. One listed at $4,750,000 and sits on 28 acres. It is approximately 5200 SF. The other property listed at $4,500,000 sits on 3.8 acres and has a 4654 SF interior. If you have never been to the Preserve, it's a special treat! The drive to the Hacienda is amazing with views of the Santa Lucia Mountains, majestic oaks and lots of wild life around every corner. The private preserve sits on 20,000 acres offering 300 estates, a Tom Fazio golf course, health spa, stables and 100 miles of trails. They have both lots and homes for sale. Let me know if you'd like me to take you on a tour!
NATIONAL REAL ESTATE NEWS:
Hidden Home Fire Dangers That Lurk
DAILY REAL ESTATE NEWS | THURSDAY, FEBRUARY 23, 2017
More than 47,000 home fires reported to U.S. fire departments involved some type of electrical failure or other household malfunction, according to the National Fire Protection Association. Homeowners sometimes discover that fires can be caused by some unexpected objects. Realtor.com® recently featured some of the hidden fire dangers that may lurk in a home:
Many dishwasher fires are caused by liquids that come into contact with the appliance’s wires. The average residential property loss due to a dishwasher fire was $11.2 million from 2010 to 2012, according to the U.S. Consumer Product Safety Commission.“Any device that powers a motor, heating element, or sometimes both in the same appliance always has a higher propensity for fire—and dishwashers are a common example,” Joe Torrillo, a firefighter who served in the New York Fire Department for 25 years, told realtor.com®. “They should never be turned on when going to sleep or leaving the home.”
Squirrels, rats, and other small creatures can make a home in your attic insulation in cold weather. If they start chewing on the rubber-covered electrical lines, there could be a fire risk too. “When electrical wires become exposed to each other and their protective insulation has been compromised, there’s a likelihood of propagating an actual flame,” says Torrillo
Jars and glass objects
Watch what you leave out in the sunlight, like on your kitchen table. An empty glass Nutella jar was blamed for a 2015 fire in southwest London. The sun rays refracted through the empty glass and ignited a spark. Do not leave flammable liquids, such as gasoline, cleaning fluids, paint thinners, and cooking oils in glass jars, in the direct sunlight. Torrillo recommends using metal cans for flammable liquids and plastic containers for cooking oils.Source: “Up in Flames: 5 Surprise Fire Starters Lurking in Your Home,” realtor.com® (Feb. 22, 2017)
I welcome your feedback and I hope you find the information helpful.
Have a great weekend