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Homes for Sale in MONTEREY, CA
MONTEREY
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000
Homes for Sale in PACIFIC GROVE, CA
PACIFIC GROVE
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000
Homes for Sale in PEBBLE BEACH, CA
PEBBLE BEACH
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000
Homes for Sale in CARMEL, CA
CARMEL
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000
Homes for Sale in CARMEL VALLEY, CA
CARMEL VALLEY
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000

BIG SUR
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000
Homes for Sale in CARMEL HIGHLANDS, CA
Marina
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000

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SEASIDE

Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000
Homes for Sale in PRUNEDALE, CA
PRUNEDALE
Under $600,000
$600,000 to $700,000
$700,000 to $800,000
$800,000 to $900,000
$900,000 to $1,000,000
$1,000,000 to $1,500,000
$1,500,000 to $2,000,000
Over $2,000,000

Welcome

Welcome to the premier resource for all real estate information and services in the area. I hope you enjoy your visit and explore everything my realty website has to offer, including Monterey Peninsula real estate listings, information for homebuyers and sellers, and more About Me, your professional Monterey Peninsula Realtor.

Looking for a new home? Use Quick Search or Map Search to browse an up-to-date database list of all available properties in the area, or use my Dream Home Finder form and I'll conduct a personalized search for you.

If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. I would love to help you with a FREE Market Analysis. I will use comparable sold listings to help you determine the accurate market value of your home.
 

You need a local expert working for you
With my knowledge of the local Monterey Peninsula real estate market, I know how to help you with your unique needs and protect your best interests through every aspect of a real estate transaction. I am focused on providing you with the most personal attention and best service available. 

You need the advice of a Real Estate Professional
The Internet is a great place to find information. But it can't provide the in depth local knowledge and personalized service that I can provide. The challenges of the real estate industry are getting more complex every day. You need a professional that is on top of the market and is prepared to protect your interests and guide you throughout the process. As a Monterey Peninsula real estate expert I am constantly researching the market and analyzing home prices so I can serve you with the latest and most accurate information.

For most families, buying or selling a home is one of the biggest decisions you'll ever make. I'd be honored for the opportunity to work for you. 

Real Estate News

Latest Realty News from NAR

Can Homeowners Cope with Lower Home Prices?

With interest rates on the rise, home prices have started cooling off.[1] On the one hand, the cooling of home prices in high-priced metro areas makes a home purchase more affordable, saving households nearly $50/month on a median-priced home.[2] On the other hand, falling prices also erodes the wealth (home equity gains) of current homeowners and can drive homeowners in a negative equity position (when the value of the home is lower than the remaining loan balance). How will declining home prices affect current homeowners and how does the current decline in home prices in some areas compare with the home equity gains?

The table below shows the home equity gains for homeowners who purchased a home in 2012 Q1 as of 2018 Q3. The home equity gained is the difference between the estimated value of the property purchased in 2012 Q1 in 2018 Q3 less the outstanding loan balance as of 2018 Q3.[3] Nationally, over the period 2012 Q1 through 2018 Q3, a homeowner who purchased a median-priced home in 2012 Q1 has gained $96,187 in home equity, which is equivalent to 41 percent of the estimated value of the home in 2018 Q3, at $235,119.

Of the 160 metro areas for which NAR calculates the median sales price, the metro areas where homeowners accumulated the largest home equity gains during 2012 Q1 – 2018 Q3 based on the purchase of a median-priced home in 2012 Q1 were San Jose-Sunnyvale-Sta. Clara ($591,576;56% of the estimated home value of $1.06 million as of 2018 Q3); San Francisco-Oakland-Hayward ($527,610; 57% of the current home value of $920,715); Urban Honolulu, HI ($337,013; 35% of current home value of $990,009); Los Angeles-Long Beach-Glendale ($374,565;49% of current home value of $768,634); and Boulder, CO ($329,608; 50% of current home value of $657,692).

The metro areas with the lowest home equity gains during 2012 Q1- 2018 Q3 based on the purchase of a median-priced home in 2012 Q1 were Cumberland, MD ($4,847; 6% of current home value of $79,343); Decatur, IL ($10,753; 12% of current home value of $86,302); Fayetteville, NC ($15,431; 11% of current home value of $138,627); Montgomery, AL ($17,641; or 15% of $119,252); and Peoria, IL ($17,679; or 14% of current home value of $128,818).

 

How do these equity gains compare with the price declines in high-cost metro areas thus far?  

We use the median list price in October 2018 on Realtor.com and look at the year-over-year change and compare these changes to the equity gains as a share of the current home values. In October 2018, median list prices declined in several high-priced metro areas compared to one year ago, but these declines are modest compared to the equity gains measured as a percent of the current home value: San Jose-Sunnyvale-Sta. Clara (-0.1%); San Francisco-Oakland-Hayward (0%); Sta. Maria-Sta. Barbara (-7.8%); Salinas ( -6%); Sta. Rosa ( -7.1%); Oxnard-Thousand Oaks-Ventura ( -2.1%). Among the 500 metros tracked by Realtor.com, the steepest decline in the median list price in October from one year ago was Denver-Aurora-Lakewood (10%).

In 301 of the 500 metro areas tracked by Realtor.com (60 percent), the median list price of homes for sale on Realtor.com were still up in October 2018 compared to one year ago.  List prices rose in areas such as Seattle-Tacoma-Bellevue where prices are more affordable than in California ($555,050; 12.1%); Boise City, ID ($330.048; 15%); Indianapolis-Carmel-Anderson, IN ($241,450; 15%); Greensboro-High Point, NC ($223,625; 14.5%);Las Vegas-Henderson-Paradise ($325,000; 14.5%), and Harrisburg-Carlisle, PA ($216,760; 14%).

 

In summary, homeowners have built up a sizable equity since 2012 that is larger relative to the price declines that have occurred thus far in several high-priced metro areas. Moreover, home prices are still appreciating in lower-priced metro areas. Given the strong underlying economic fundamentals in 2018— strong employment growth, the demographic boost from the 25-44 age group which includes the millennials, and safer underwriting standards and level of household debt—it does not yet appear likely that home prices will crash to a level that will wipe out this home equity gain. NAR Chief Economist Lawrence Yun forecasts no recession ahead that could cause a collapse in job growth which will impact the demand for housing.

 


[1] The earliest indicator of the direction of home prices—NAR’s median home prices— rose 4.3 percent in 2018 Q3, the slowest average rate for the quarter since 2012 Q1. The home price indices of the Federal Housing Finance Agency, S&P CoreLogic Case-Shiller, and the U.S. Census Bureau for new 1-family homes also show a slower price appreciation in 2018 Q3 (FHFA, 6.3%; S &P CoreLogic Case-Shiller, 5.7%; U.S. Census Bureau 1-family homes, 2.3%) compared to the pace of appreciation in 2018 Q1.In 500 metro areas tracked by Realtor.com, the median list price of homes for sale declined in 199 metro areas (40 percent), with the largest declines occurring in high-priced metro areas.

[2] At the current 30-year fixed mortgage rate of 4.83 percent with a 10 percent down payment, every $10,000 decline in home prices results in a saving of $47/month.

[3] I estimated home equity by subtracting the loan balance as of 2018 Q3 to the current home value as of 2018 Q3. I estimated the current home value by applying a home price appreciation factor using FHFA House Price Index (FHFA HPI 2018 Q3/ FHFA HIP 2012 Q1). I assumed that a homeowner purchased a median-priced home in 2012 Q1 at the average median price in 2012 Q1 of $158,333 financed by a 30-year fixed rate mortgage of 3.6 percent (2012 Q1 average) and a 10 percent down payment.

October 2018 Pending Home Sales

  • NAR released a summary of pending home sales data showing that October’s pending home sales pace was down 2.6 percent last month and fell 6.7 percent from a year ago.
  • Pending sales represent homes that have a signed contract to purchase on them but have yet to close. They tend to lead existing-home sales data by 1 to 2 months.
  • All four regions showed declines from a year ago. The West had the biggest drop in sales of 15.3 percent. The Midwest fell 4.9 percent followed by the South with a decline of 4.6 percent. The Northeast had the smallest dip in sales of 2.9 percent.
  • From last month, three of the four regions showed declines in sales. The West region had the biggest drop of 8.9 percent. The Midwest fell 1.8 percent followed by the South with a dip of 1.1 percent. The only region with an incline in sales was the Northeast, which had a modest gain of 0.7 percent.
  • The U.S. pending home sales index level for the month was 102.1. September’s data was revised up to 104.8.

  • In spite of the decline, this is the pending index’s 54th consecutive month over the 100 level.
  • The 100 level is based on a 2001 benchmark and is consistent with a healthy market and existing-home sales above the 5 million mark.

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Arleen Hardenstein

Phone: 831-915-8989
Email Arleen

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Arleen Hardenstein | Sotheby's International Realty | Phone: 831-915-8989 | Email Me
Pacific Grove, CA 93950

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