Carmel Valley Village aka “The Village” is a small community approx. 12 miles inland from Carmel with about 3000 residents in numerous neighborhoods such as Robles del Rio, Paso Hondo, Sleepy Hollow, El Caminito and more.  This community boasts sunny days, small town atomosphere, excellent elementary school; blue ribbon winner for 2007 Tularacitos and an abundance of nature.

 Our median price is 1,012,500 with our average price at 1,139,519.  In January we saw 8 sales, 31 new listings (we’re getting ready for spring) and our average days on the market is currently at 188 days.  With a current inventory of 91 listings we are down 6% from last year at this time.  The current sale price to listing price  is 88.3% which is down from last years 92%. 

Situated on 1700 acres of oak studded hills above Monterey Bay is the exclusive gated community of Monterra.  On Sunday I will be hosting an open house at 7591 Paseo Vista  featuring 5600 of indoor living space as well as a  complete outdoor kitchen, casita and views to the Monterey Bay.  

 This property and community offer the ultimate in luxury and convenient living with each custom homesite positioned to take advantage of the landscape, the goal is to preserve open space and to enable you to create a home that complements this unique setting and your own personal aesthetic. 

 The community of Monterra feature 1-5 acre lots with two gated entries that are monitored 24/7.  All the utilities are underground and an arcitectural review board ensure the aesthetics and maximize privacy.   As you drive through Monterra you will see deer grazing, hawks sailing and the spring lupin awash on the pristine hills.  This community is a blend of nature, luxury and convenience…………… the best of the best!

Are you feeling queezy yet? This photo was sent to me by my cousin awhile back along with a series of others that were supposed to determine one’s level of stress.  As the movement increases one’s stress level is considered to be higher.  While I’m not sure of the science behind this it sure is fun.

Here’s another………

What does this have to do with real estate????  We all see things through our own lense.  Be aware that what the client is seeing and what we are seeing may be twisted and turned in different directions.  Ones level of stress, excitement, motivation, etc. will impact our perception.

Some time ago I was asked by the family of an elderly gentleman to preview his home and make a determination on price.  The family was preparing for the inevitable …. placing their father in a local assisted care living arrangement and  needed to do some financial arrangements.

 I paid a visit to the gentleman and was transported into a wierd and wonderful tour through his life’s history.  He had been a developer of post war homes in the midwest and considered a hero there, he was getting ready to  go to a celebration in this small midwestern town where he would be honored for his contributions to the community.  His life in Carmel Valley now revolved around growing Orchids “the most beautiful flower in the world”, he said. There were Orchids in ever inch of the home - including the turning of his laundry and kitchen into the potting shed for these lovely plants.  I left with no less than 3 orchids for my home.  It was a strange and whaky afternoon and I walked out less sure of the reason I visited than when I walked in.  The house will sell for over 1M but my visit with this elderly gentleman was priceless……….

Assuming that this tax break translates into mortgage interest rate adjustments downward then this tax break will possibly help in the first time buyer segment of the market. 

As for the Monterey Peninsula I would suspect the relief will be moderately helpful in the entry level markets as most buyer’s are still looking at jumbo loans.  For the remainder of the buyer’s they are often trading one property for another or coming into the marketplace with a large amount of cash or substantial lines of credit.  

What seems most important to me is that the general feeling improves with regarding to real estate and the economy in general.  We all know that perception is reality ….. reality is that rates have been very good throughout the market shift and yet the feelings toward the market have been negative to say the least.   

As we’ve all heard in the news, way too much in my opinion.  Foreclosures, short-sales and deeds in leu of foreclosure are upon is in some areas.  Here we are seeing the bulk of them in Salinas, Greenfield, Marina and some Seaside … with a smattering of properties in Monterey, Pebble Beach and Pacific Grove.  Until the Mortgage Forgiveness Debt Relief Act of 2007, which was signed by President Bush on Dec. 20 the property owner not only lost all of the money in the property, suffered credit damage but they had double whamie called Tax Consequences.  This can all be quite complicated and certainly requires a tax accountant (and a good one at that) to steer the mortgagee in the right direction.  Recently The California Assn. of Realtors’ Member Legal Services team has published a revised legal article, “Taxation of Foreclosures, Deeds in Lieu of Foreclosure, and Short Sales.”

The article is detailed and thorough and may be of use for anyone facing this tragic event.  Get a cup of coffee, focus and read about it on their website… 

www.car.org, or go directly to http://www.car.org/index.php?id=Mzc3MDM= .

Just got finished listening to my favorite song of all time R.E.M.’s ”Stand” well it is actually a close second to 4 Non Blonds but we’ll save that discussion for later.  Now that I have regressed and even worse dated myself my point is…… let’s stand in the place that we are right now! 

 I have two clients that purchased let’s say “starter homes” here on the Monterey Peninsula last year (that would be 500-700K range).  They both were able to negotiate a sizeable discount off the list price, with a little help from their friend me :-), obtain excellent interest rates on their loans and one managed to get a special discounted, long term loan from a large bank with certain income requirements.  That loan is no longer in existence as of 12/31/07.  And they are both enjoying the benefits (tax and other) of homeownership.

So I run into one client and he is aware of the price instability around his neighborhood and tells me he is still thrilled to be a homeowner and continues to put personal touches in the home. No more white wall rentals and cramped quarters for his dog.  He understands that he got into the market when rates were substantially better than they are now and with the tax benefits and pride of homeownership he is in it for the long haul.

 My other client while still thrilled about having a home of her own, keeps checking the prices and comparing her neighborhood sales every day. I sense a tension in her voice and yet she actually is better off having purchased last year than she would be now.  With the special loan obtained at a rate and terms no longer available she could not buy the same house today.  With the down payment required in the current market place and the increased interest rate she would be out of pocket approx. 65K just to get in the home she has now six months later.  

 So I say stand in the place were you live and enjoy the opportunity of home ownership, tax benefits, freedom in decorating and whatever else owning your home may mean to you. 

 The marketplace will go up and down and if we are constantly chasing it we will be worn out.   A wise man once said “And this, too, shall pass.

 the variety that abounds in every aspect of life.  Carmel Valley is not Carmel-by-the-Sea it is a small village 12 miles inland from Carmel that is very rustic, slower and warm!  Our shopping village is not more than a few blocks of restaurants, gift stores, galleries and, of course, wine tasting rooms.  With such notable names as Bernardus, Talbot and Georis one might think that we are more sohisticated or snobby than we really are.  Don’t get me wrong there is a very high level of sophistication but it is very understated.   Many of our residents have made Carmel Valley there home because of the immense beauty and serenity that one feels when driving into the valley.  Ancient oaks, sycamore and pine  dapple our mountain ranges.  We have a 3000 acre park, Garland, with miles of hiking trails, horse trails and some bike trails.  Garland is also home to a wonderful Earth Day celebration and a native plant/weed display of over 100 species that we see almost every day. 

 Our community is proud and very quiet in the immense amount of volunteer work that is done.  We have a Garden Club, Women’s Club, Rotary Club, Carmel Valley Village Improvement Committee, Road committee, Community pool and recreation committee, Chamber of Commerce and much more.

Our homes are all completely different and range in size in construction from log cabins to Italian style villas. 

1. Overprice it (this is the usual culprit)

2. Be unwilling to negotiate (this is the next usual culprit)

3. Skip on repairs or cosmetic touch-up

4. Keep the nasty dog and ??? smells around in the carpet and furniture

5. Limit showing times excessively or refuse a showing to occur because it is “inconvenient”

6. Have way too much stuff!!!

7. Hang around during open house and agent showings

8. Bad curb appeal

9. Ignore dealing with the water stains or other obvious clues to damage before listing the home.

10. Return to item #1

when the lender stopped returning my phone calls.  Trying to get a middle class, that would be under 100K a year in income around here,  first time buyer into a home on the Monterey peninsula can be quite a challenge.  Needless to say I was very proud of my client for being willing to go to special classes in order to qualify for a special type of loan.  After attending an all day courses in San Jose,  the course is not offered in Monterey County, in a language that he did no speak, my buyer received a certificate from his teachers allowing him to qualify for a below market, fixed rate, 40 year term loan.  Yippee now he could go shopping.  We identified the home and made the offer. We were in a multiple offer situation so the special letterto the seller and my clients  soon to be status as a father and working class husband won him acceptance of his terms.  We were set and ready to close in 30 days or less.  About 7 days from close the lender was nowhere to be found.  No answer on his cell, not in his office and the title officer had no luck reaching him either.  Strange enough he had already prepared the documents and had the loan ready to go…….. and then he went on vacation.  We closed a day late (not bad) and I never heard from him again.