Christine Monteith on the Pebble Beach Coast

Pacific Groveis a quiet, little town that sits on a small outcrop of rock along the central coast of California. It exists in the shadows of its more famous neighbors, Carmel and Pebble Beach. You don’t see much Shoefiti around here. Yesterday, my broker took this photo of her new listing. There are many theories on the motivation for “shoefiti.” There is an elementary and middle school nearby, my conclusion is some student needs a new pair of shoes.

Popularity: 1% [?]

How do you re-coup your $32,000,000 investment in a home that sits on the Pebble Beach golf course? You can rent it for $100,000 a week during the U.S. Open in 2010.

You can rent out your home. Monterey Bay Property Management is looking for Pebble Beach homeowners that are willing to put all their personal belongings into storage, shine up their homes and move out for a couple weeks for these projected returns….On the golf course: $100,000, Within walking distance: $50,000, Inside Pebble Beach gates: $10,000-$50,000.

Popularity: 1% [?]

From the Monterey Herald, August 20, 2008

“Home sales in Monterey County continue to rise, while the median price of sales continues its downward trend, according to a real estate research firm. Compared to July 2007, the number of sales for new and resale properties, including single-family detached residences and condominiums, was up 53.5 percent. There were 327 properties in the county sold in July, up from 317 in June and 213 in July 2007, according to San Diego-based MDA DataQuick. The median sales price was down 44.1 percent year to year, dropping $242,000 in the past year from $549,000 in July 2007 to $307,000. ”

So sales are up but prices are down. The downward trend in prices has allowed people that could not afford a home to now purchase. Many of the homes being purchased are foreclosures in Seaside or Salinas selling under $350,000. Buyers are qualifying for loans and purchasing. Any one who bought their home over 6 years ago and are selling now will still make a profit on the sale. This market is very beneficial for many buyers and sellers.

Popularity: 1% [?]