What is the future of the Monterey Peninsula Real Estate Market?

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Real Estate Agent - Keller Williams - CalBRE 01362347
The market as a whole right now is relatively flat. We historically rely on sales of entry level homes to be bought from move up buyers from Salinas, but since that market is hurt by the sub prime debacle, we no longer have that pressure. We also have a flux of condo conversions that are impacting lower end values. Higher end homes and markets are holding strong. It will be interesting to see what happens when the 1000+ homes are built on the former Fort Ord.
What do you do when the appraisal on the dream home you want to buy comes in below the price in the offer the seller has accepted—even as much as 10 to 20 percent below? Chances are that raising the cash for your down payment and closing cost has tapped you out. Finding thousands more to make up ...
The value of taxable property in California has increased after two straight years of drops, the state Board of Equalization said this week. The gain -- which accounts for properties taxed by both the state and counties -- was 0.3 percent, rising to $4.382 trillion for 2011-2012 from the previous...
Hey Everyone, Just got a new listing in the Corral De Tierra area, address is 151 Robley Road in Salinas, CA. This is not a residential listing, it is a lot/piece of land. I am listing it for $495,000. It is 6 acres! Please let everyone know who may be searching for something of that description!...
Hey Everyone! Please check out my listing and bring all of your buyers to this fabulous property situated right on the golf course in Monterey! Listed for just $2,995,000, this astonishing 5 bed/4+ bath home features a pool, jacuzzi, outdoor living/entertaining area, gourmet kitchen, wine cellar,...
Washington, August 26, 2011 As homeowners across the East Coast brace for Hurricane Irene and the heavy rains that are expected to fall over the next few days, the current threat underscores the importance of flood insurance, which is the only way for homeowners to financially protect their prope...
So I looked this morning at the amount of inventory in Monterey County knowing this time last year, we had 17 months of inventory (the amount of time to sell every listing at the current rate if no new listings came on board).  Well, to my surprise, we were down to just three months!  How is that...
 Entry level homes on the Monterey Peninsula (Monterey, Seaside, Marina, Pacific Grove) has relied somewhat on move up opportunities from the Salinas communities (Salinas, Marina, Soledad, Greenfield, Gonzales, King City, Prunedale, Las Palmas, Oak Hills).  Unfortunately a large percentage of hom...

Ben Beesley

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What is the impact of the Salinas market, condo conversions and future developments on the Monterey Peninsula Real Estate Market?