Happy Holidays from the Monterey Peninsula Home Team! You are receiving this email as a valued member of our Client Appreciation Program.
Thank you to those of you who have referred us clients in the past! We appreciate you thinking of us and taking the time to tell your friends and family about working with us for all of their real estate needs! We recognize that without great clients like all of you that we wouldn’t have the thriving real estate business we are fortunate enough to have. We are grateful for all that you have done for us over the years and continue to do today! So THANK YOU ALL very much for your continued support and for thinking of our team first when it comes to real estate!
So 2013 has been a busy year for the Monterey Peninsula Home Team! Not only was the market hot all year and prices are going up, but interest rates remained low! The biggest battle was the lack of good inventory, especially at the lower price points in each market around the peninsula.
Along with a busy year of helping our clients buy and sell homes, we also were busy creating new tools for our clients to utilize, including the launch of two new websites!
Please read on to learn about the year real estate, 2013.
November Real Estate Statistics
You can see all of Monterey Counties Real Estate Statistics at www.markbruno.rereport.com . This website will allow you to break down the entire county into various city statistics and even individual neighborhood statistics! It is updated every month and you can even sign up to receive monthly updates about your home’s value! It is a great tool to use if you are interested in your home’s value (who isn’t!).
The California Association of Realtors (CAR) is forecasting both home sales and home prices to increase across the state in 2014. The number of homes sold in 2013 was actually down 2.1% in in the state and 19% in Monterey County based on extremely tight inventory all year. Home prices grew at a better than expected 28% in the median price across the state! Monterey County saw strong increases as well with a 23.4% increase through November!
In 2014 CAR believes we can look forward to a 3.2% increase in overall real estate sales and an increase in median price of 6%. This seems like a reasonable increase for Monterey County as well although if inventory stays tight, higher growth rates are possible.
Interest rates are expected to rise in 2014 to 5.3% on a 30 year fixed mortgage.
Foreclosures and Short Sales
Both foreclosures and short sales fell significantly in 2013.
Notices of default, the first step in the foreclosure process, in Monterey County fell 29.5% in October from September. Year-over-year, notices were down 58.3%. Notices of sale, which sets the date for an auction and serves as the homeowner’s final notice before sale, was down 52.2% year over year.
The Monterey Peninsula has very few foreclosures and short sales these days. In November there were only 15 active foreclosures and 13 active short sales in the entire county!
Lending a Helping Hand
Coldwell Banker is helping to feed hungry hearts this holiday season with its Fifth Annual Bay Area Food Banks Holiday Fundraiser. Now through December 20, we are collecting donations to help support the Bay Area Food Banks and in turn, help make the holidays brighter for those in need. As a pledge of our commitment and dedication to the cause, Coldwell Banker Northern California will match up to $5,000 in donations collected.
We Invite You to Help Too.
You can stop by our Pacific Grove Office at 501 Lighthouse Avenue (The cute Victorian on the corner of Lighthouse and 14th Street), to make a canned food donation. You may also make a monetary donation of $5 or more online at www.cbfoodbankgiving.eventbrite.com , so that you can lend a helping hand to those in our communities who are hungry this holiday season.
Earlier this year we launched a new website www.SearchMontereyPeninsulaHomes.com designed to help buyers search for real estate on the Monterey Peninsula. This site has been very well received and since it is just buyer focused, it is a much faster and easier to navigate site than our older site, www.MontereyPeninsulaHomeTeam.com. In addition, the new site has an extremely useful Mobile platform that allows you to view new listings on your mobile device and is very fast. I find myself using it when I am with clients in the car as it is much faster and easier to use than the large national sites that seem to have so much bad information or out of date listings on them. This new site only has active listings and doesn’t waste your time on pending or solds (since you can’t buy homes that are already under contract or closed!).
Here are some links specialty pages on the site:
Be sure to go and check it out!
If you are interested in your home value, we have launched a new website that is exclusively designed to get home owners values on their Monterey Peninsula Homes. If you would like to know your home’s current market value or if you know of anyone else who is interested in knowing the value of their home, check out our brand new webpage, www.MontereyPeninsulaHomeValues.com and fill out the required information about your property. We will send you a no hassle report hand prepared by our team! Obviously if you are interested in selling your home, we are here for you! You can call us, email us or start the process through this website.
Thank you again for your support in 2013 and Happy Holidays to you!
Monterey Peninsula Home Team
Mark Bruno, Lynda Nichols, Jeff Davi, Anthony Davi