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Home Buying in Monterey : Real Estate Advice

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  • Local Info3
  • Home Buying20
  • Home Selling3
  • Market Conditions6

Activity 17
Mon May 4, 2015
privacy answered:
Go to your local police department. There may also be a special economic crimes division for the State of CA. If you have reason to believe the individual or company was out of state, you can go to the FBI. ... more
0 votes 1 answer Share Flag
Mon Feb 16, 2015
Brian.hausner answered:
Please contact me, we can discuss how to resolve and work with getting you into a home.
0 votes 2 answers Share Flag
Sat Dec 20, 2014
Dan Tabit answered:
Klum,
Landlord Tenant Law is what is applicable. It's amazing what you can find with a search. Here is an excerpt from the link attached below;

A landlord cannot routinely charge each tenant for cleaning carpets, drapes, walls, or windows in order to prepare the rental unit for the next tenancy.

This is under paragraph marked with a large 1.
The general idea is you give it back in the way you received it, except for normal wear and tear. It's always a good idea to photograph or video any damages you find in your initial walk through your unit. This evidence clarifies who did what and when. Best of luck.
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Fri Sep 12, 2014
Giniellisquilts answered:
It's about 3 miles as the crow flies. Driving time from that address is about 8-10 minutes because of the winding road. Saddle Rd. is in the landing flight pattern for planes (on *final approach*) going in and out of Monterey - it's wonderful seeing them fly so close especially when there is an air show in Salinas and they come to refuel in Monterey! You will get noise from Laguna Seca on race days...but even that is exciting! I lived off Saddle Rd for years and loved it! ... more
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Fri May 16, 2014
Annie Giammanco answered:
Hi Alex,
I work with several investors in Monterey County.
Email me your criteria and I will forward you investments that I feel may fit your needs.
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Mon Sep 2, 2013
Monterey Peninsula Home Team answered:
I rarely see trades work out as both owners seem to think their home/condo is worth more than the one they are trading for and ultimately they have a hard time agreeing to a price. If you are interested in selling your condo in South Lake, I know several very good Realtors in Tahoe for you to interview about selling your property and I would be happy to show you what you can get down here on the Monterey Peninsula. The selling season is just about to start in Tahoe (Fall) from what I understand about that market, and the best time to get a good deal on the Peninsula is in the Winter months as there are less second home buyers looking and things are less competitive. ... more
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Wed May 8, 2013
Juliette Ferguson answered:
Hi Tarek, It will depend on your needs; however, generally speaking... resale is easier with a home than a condominium. There are also some in-between options (PUD) where you purchase a home and pay HOA fees that take care of the gardening and upkeep. If you would like to contact me or meet in person to discuss - 831-402-3800. I work with many investors from Silicon Valley and the greater bay area. In fact, I love working with investors. This market is "low supply" at the moment and cash investors are able to get into the market much easier than individuals with loan contingencies. For example - My last 2 home sales had 5 and 6 offers respectively within 48 hours. In both cases, the owners selected the cash buyer (investors) since it was a simpler and faster close of escrow (coe). I look forward to learning more about your investment goals. You can invest in Greenfield and Soledad starting about $200K and then rent properties. In Seaside you can get in at about 300-400K and in Pacific Grove - most investments are at $500K on up. Let me know what type of investment interests you the most. ;) ... more
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Sun Apr 14, 2013
Annette Boggs, REALTOR answered:
There are some wonderful mobile homes in Seaside and Marina under $150,000.
I happen to have a beautiful Mobile Home in Seaside for $68,000. It is a 55 and over park, 2 bed, 2 bath, brand new carpet, freshly painted. The space rent is $655.00 per mo which includes garbage, water, sewer.

Call me for more info -
Annette Boggs
(831) 601-5800
... more
0 votes 4 answers Share Flag
Sat Apr 13, 2013
Annette Boggs, REALTOR answered:
Jeanne,
I would recommend that you ask the agent for referrals and check with them before working/choosing your agent. They will tell you how hard the agent worked for them, educated them and helped them through the process.
It's good to get an agent who has an extensive background of Real Estate in general and not just a license.

Annette Boggs
(831) 601-5800
... more
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Sat Apr 13, 2013
Annette Boggs, REALTOR answered:
Use Google search and in the search bar type your address with city and state. You can then see the front of the unit.

Also Google Streets is a great one.
0 votes 4 answers Share Flag
Fri Jul 15, 2011
Myriam & Patrick Kennelly answered:
The "Monterey Peninsula" contains many different neighborhoods, each with its own sub-market. Basic housing in Seaside has already dropped from speculative heights of $600-$750K in 2006 to a stable $200-$300K range, where the best bargains are getting multiple offers. At this price range, it is actually cheaper to pay a mortgage than to pay rent.

In the most affordable neighborhoods of Monterey--including the areas near the D.L.I. and N.P.S., near the fairgrounds, and in the neighboring town of Del Rey Oaks--older 3/2 homes run in the $350K-$450K range...almost half of what they fetched at the height of the market. In more expensive neighborhoods like Skyline Forest and Aguajito Road, prices have come down less--it is still common to see sales over $750K. An exception are the condo communities, where bargains are available on some attractive condos and townhomes...PROVIDED you are using all cash or can get financing (most lenders don't lend on most condos these days--ask your lender for details).

Pacific Grove can be split between the areas that have wide appeal to out-of-towners (close to the water, to Asilomar or to the downtown) and the less-quaint neighborhoods (close to Trader Joe's and David Avenue) that are sought-after by locals because of the high-ranking school district. In the former neighborhoods, a tiny bungalow on a teensy lot can now be had for $450K-plus-the-cost-of-whatever-updating-you-consider-necessary...and a water-front home would be considered a good bargain if you can get it for a million. In the latter neighborhoods, $450K gets you a larger 1950s home with less curb appeal but a yard for the kids...and you would be hard-pressed to spend over $750K. Foreclosures and REOs are still rare in the former areas....but not-so-rare in the latter areas.

Carmel-by-the-Sea is also beginning to see foreclosures and short sales....and more are certainly on the way. In 2006, anything priced under a million in Carmel was sure to be a ramshackle cabin....now the price floor of Carmel-by-the-Sea is in the low $500Ks for a 1940s fixer on the edge of town. Remodeled homes on "short sale" can be found in the $800Ks. Even in the premier Golden Rectangle, an outdated-but-habitable home sold recently for just under a million dollars. Of course luxury homes and ocean-view homes still can still command prices of $2.5M - $5M.

Pebble Beach has been the longest hold-out against price reductions (some deep pockets there). But the result of this stand-off between stubborn sellers and recalcitrant buyers was that the Pebble Beach market came to a virtual stand-still for almost 4 years. Recently, Pebble Beach sales have been picking up....not because of foreclosures or REOs, but just because sellers have become more realistic. A spate of recent sales in the $700Ks and $800Ks for older homes (some with golf course views!) seems to be breaking up the log jam among older Pebble Beach ranch homes. In early July, a bank-owned foreclosed house in an excellent Pebble Beach location came on the market priced at $530K....and immediately drew seven offers (several of them all-cash) that bid it well over list price. Is the buyer still getting good "value"? You bet!

So the question about "affordability" and "value" has to be answered by a neighborhood-by-neighborhood analysis. For vacationers and retirees seeking a second home in prime areas of Carmel, PG and Pebble Beach, we believe bargains will continue to become more plentiful over the coming year--look for fixers/non-remodeled homes in the $700-900Ks in traditionally prime areas, and waiting won't hurt. The best bargains will sell fast...and the over-priced homes will eventually drift down to match the "best bargain" comps.

But first-time buyers seeking basic housing in the $300K - $500K range should strike now while the iron is hot. The "iron" here means the availability of low-down-payment mortgages at stunningly low interest rates. Today's low interest rates are an OVERRIDING factor in the "affordability" calculation, as we see it....but they won't stick around forever.

We are always happy to talk with you about the opportunities we see out there. Call us at (831) 250-8120.
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Thu Nov 4, 2010
Mike Kelly Allison Norman answered:
Christine, The operative phrase, "Contact a CPA who specializes in 1031 Tax Deferred Exchanges"! But remember, to avoid capital gains you need to exchange "like-kind"; properties or those properties held for investment purposes. Your residence does NOT qualify under this code. It is the 1034 code which deals with residential sales. One does NOT exchange into a property already HELD for investment purposes. You "acquire" properties through the 1031 Tax deferred process. (I won't go into "reverse exchanges" as this is too confusing and does NOT fit your criteria).
One can convert an existing "residential" usage into a future 1031 candidate but it won't have the results you are looking for. I would be VERY careful with any tax deferred exchange. Contacting a fully accredited and "safe" exchange facilitator is THE way to go. I use Toni Esposti of OREXCO Exchange Services in Marin County. There are specific "steps" one needs to fully document along the way. Blowing an exchange will cost you thousands in unpleasant tax!!!
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Mon Jun 14, 2010
Lori Jakubowski answered:
Are you looking to buy or rent? The Chapman University extension campus is down by Fisherman's Wharf. Most beach front properties will be pricey, but there have been some good deals out there. Are you looking for a single family residence or condo?

Let me know how I might help you in your search...
... more
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Tue Apr 13, 2010
Don Tepper answered:
If the place is cheap enough, sure. Just depends on how your expenses would compare to living elsewhere. Recognize, though, that you may have substantial difficulty if you want to sell it while the complex is still bank-owned. So, if you're prepared to be in it for the long haul and the price is extremely good, you might consider it. ... more
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Fri Oct 16, 2009
Mario Pinedo, Ccim answered:
Absolutely! I don't think the returns will be as good as your market though. Monterey Peninsula tends to be a very pricey market.
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Mon Jan 12, 2009
Albert answered:
Salinas is having gang problem right now. Search about crime / homicide rate in Salinas, and you will find out why people avoid buying a house there. People from nearby cities (including me) avoid going to Salinas at night time. ... more
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