Rental prices in Pacific Grove, CA - are they going up or down?

Asked by C, 22102 Thu Jun 21, 2007

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5
Maureen Mason, Agent, Pacific Grove, CA
Fri Jul 20, 2007
Pacific Grove rental prices are rising due to the following influences:
City of Monterey conversion of 7 apartment complexes into condos (forcing renters out during conversion)
3 Pacific Grove projects turning apartments into TIC's (forcing renters out during conversion)
Increase in faculty at DLI (consult Dept of Defense for exact figures)
More listings for sale of current tenant occupied properties than at any time in the past 7 years

Maureen Mason
Realtor
Coldwell Banker Del Monte Realty
Pacific Grove, CA 93950
maureenmason.com
1 vote
Colin Campbe…, , Carneys Point Township, NJ
Tue Apr 12, 2011
Prices are heading North again after many years of being stagnant or reducing. Sign up a long term lease where you can.
Regards
Colin
0 votes
April Kissel, , Maryland
Tue Mar 24, 2009
My mom has had her two-bedroom apartment for ten years, and has so far only had two increases.
0 votes
Becky Jones, Agent, Monterey, CA
Fri Aug 31, 2007
Rental prices throughout the Monterey Peninsula are on the rise for a number of reasons. I think one of the most pressing is that of current lending situation. Many of the people who were able to purchase an entry level home here in the past are unable to do so now given the tighter lender requirements (greater down payment, higher credit scores) and many who did purchase and can't afford to make their mortgagae payments, have been forced to sell or are being foreclosed on and are back in the rental market. Both scenarios have increased the number of renters looking for places to live.
Web Reference:  http://www.beckyonline.com
0 votes
Jeff and Che…, , 91436
Thu Jun 21, 2007
I am unfamiliar with the area but I can suggest that you contact an appraiser because they should know. This web site might be able to help find one http://www.appraisalinstitute.org/. Good luck.
Jeff Fox, Broker
0 votes
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