Monterey Real Estate News for Q4 2013

Monterey: Home Prices Up, Home Sales Down in the 4th Quarter 2013

Monterey Real Estate Statistics for Q4 2013 

- To see more details including graphs and the following Monterey Real Estate Statistics, click here:

• Monterey Median Home Price
• Monterey Average Sales Price
• Monterey No. of Homes Sold
• Monterey Pending Properties
• Monterey Foreclosures Sold
• Monterey Short Sales Sold
• Monterey Active Listings
• Monterey Active Foreclosures
• Monterey Active Short Sales
• Monterey Sales Price vs. List Price
• Monterey Average Days on Market
• Monterey Year over Year Sales to Date
• Monterey Days of Inventory Sales Breakdown (Bank Owned vs Short Sales vs Normal Sales)
• Monterey Sales and Price
• Monterey Market Momentum

Pebble Beach Real Estate News for Q4 2013

Pebble Beach: Home Prices Up, Sales Down in Q4 2013

Pebble Beach Real Estate Statistics for the 4th Quarter

- To see more details including graphs and the following Pebble Beach Real Estate Statistics, click here:

• Pebble Beach Median Home Price
• Pebble Beach Average Sales Price
• Pebble Beach No. of Homes Sold
• Pebble Beach Pending Properties
• Pebble Beach Foreclosures Sold
• Pebble Beach Short Sales Sold
• Pebble Beach Active Listings
• Pebble Beach Active Foreclosures
• Pebble Beach Active Short Sales
• Pebble Beach Sales Price vs. List Price
• Pebble Beach Average Days on Market
• Pebble Beach Year over Year Sales to Date
• Pebble Beach Days of Inventory Sales Breakdown (Bank Owned vs Short Sales vs Normal Sales)
• Pebble Beach Sales and Price
• Pebble Beach Market Momentum

Carmel Valley Real Estate News for Q4 2013

Carmel Valley Real Estate Prices Up, Home Sales Down in Q4 2013

Carmel Valley Real Estate 

- To see more details including graphs and the following Carmel Valley Real Estate Statistics, click here:

• Carmel Valley Median Home Price
• Carmel Valley Average Sales Price
• Carmel Valley No. of Homes Sold
• Carmel Valley Pending Properties
• Carmel Valley Foreclosures Sold
• Carmel Valley Short Sales Sold
• Carmel Valley Active Listings
• Carmel Valley Active Foreclosures
• Carmel Valley Active Short Sales
• Carmel Valley Sales Price vs. List Price
• Carmel Valley Average Days on Market
• Carmel Valley Year over Year Sales to Date
• Carmel Valley Days of Inventory Sales Breakdown (Bank Owned vs Short Sales vs Normal Sales)
• Carmel Valley Sales and Price
• Carmel Valley Market Momentum

Carmel Real Estate News for Q4 2013

Carmel: Home Prices Up, Home Sales Down in 4th Quarter 2013

Carmel Real Estate Trends

- To see more details including graphs and the following Carmel Real Estate Statistics, click here:

• Carmel Median Home Price
• Carmel Average Sales Price
• Carmel No. of Homes Sold
• Carmel Pending Properties
• Carmel Foreclosures Sold
• Carmel Short Sales Sold
• Carmel Active Listings
• Carmel Active Foreclosures
• Carmel Active Short Sales
• Carmel Sales Price vs. List Price
• Carmel Average Days on Market
• Carmel Year over Year Sales to Date
• Carmel Days of Inventory Sales Breakdown (Bank Owned vs Short Sales vs Normal Sales)
• Carmel Sales and Price
• Carmel Market Momentum

Pacific Grove Real Estate News for Q4 2013

Pacific Grove: Home Prices Up, Sales Down in 4th Quarter

Pacific Grove Real Estate Details

- To see more details including graphs and the following Pacific Grove Real Estate Statistics, click here:

• Pacific Grove Median Home Price
• Pacific Grove Average Sales Price
• Pacific Grove No. of Homes Sold
• Pacific Grove Pending Properties
• Pacific Grove Foreclosures Sold
• Pacific Grove Short Sales Sold
• Pacific Grove Active Listings
• Pacific Grove Active Foreclosures
• Pacific Grove Active Short Sales
• Pacific Grove Sales Price vs. List Price
• Pacific Grove Average Days on Market
• Pacific Grove Year over Year Sales to Date
• Pacific Grove Days of Inventory Sales Breakdown (Bank Owned vs Short Sales vs Normal Sales)
• Pacific Grove Sales and Price
• Pacific Grove Market Momentum

New Smoke Detector Laws in California (SB 1394 & SB745)

California has a new law phasing in the use of new smoke detectors installed in the State of California including Monterey County.

SB1394 requiring 10 year batteries in all new smoke detectors in California by January 1, 2014 was revoked.  The new law, SB 745 takes it place and will be phased in through July 1, 2015.

Here are the details:

July 1, 2014.
Manufacturers may only sell smoke detectors in California that have non-removable batteries capable of powering the unit for 10 years.

Exception: If anyone (retailers, wholesalers, managing agents, contractors, property owners) has the older models (not a 10 year battery), they may continue to install them until July 1, 2015.

January 1, 2015.
Manufacturers may only sell smoke detectors in California that meet the requirement in number 1 above, plus they must:

a. Display the date of manufacture
b. Provide a place on the device to where the date of installation can be written
c. Incorporate a hush feature

Exception:
As in above, if anyone (retailers, wholesalers, managing agents, contractors, property owners) has the older models (not a 10 year battery, no dates, no hush), they may continue to install them until July 1, 2015.

July 1, 2015.
a. Any installations of battery operated smoke detectors (new installs or replacements) must be with detectors that

Have 10 year non-removable batteries
Provide a place on the device to where the date of installation can be written
Incorporate a hush feature
Display the date of manufacture

b. When a permit is pulled/$1,000 or more in work is performed all detectors will need to be updated to the new models.

Install New Smoke Detectors Now

Please be advised that these new models which meet all the below requirements, and significantly increase the safety of occupants, are currently available at retailers throughout the county and through several online retailers.

Coldwell Banker Real Estate 2014 New Year Marketing

Coldwell Banker rings in New Year's Eve with Carson Daly on NBC.

Look for Coldwell Banker Real Estate to ring in the New Year with Carson Daly on NBC's New Years Eve with Carson Daly.  Coldwell Banker will be featuring their "We Believe" advertisements in the days leading up to the New Year's Eve Party and will feature the voice of Tom Selleck and the song "Home" by American Idol winner Phillip Phillips!  

Trust your real estate needs to a brand that believes!

Coldwell Banker Real Estate 2014

Happy Holidays

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 14^th 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.

New Website for Monterey Peninsula Buyers

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:

Carmel Ocean View Real Estate

Carmel, CA's Golden Rectangle Real Estate

Pebble Beach Ocean View Real Estate

Pebble Beach Lodge Area Real Estate

Pacific Grove Ocean View Real Estate

Pacific Grove Old Retreat Real Estate

Be sure to go and check it out!

Interested in your Monterey Peninsula Home Value?

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

Monterey Real Estate for Sale- 8 Shady Lane

Mar Vista Area Real Estate in Monterey, CA 93940

Listing Details:

• Mar Vista Home for Sale
• 8 Shady Lane
• $785,000
• MLS# 81331298
• Bedrooms: 3
• Bathrooms: 2
• Square feet: Approximately 1900 sf
• Lot Size: 8800 square feet

Call Mark Bruno or Jeff Davi with the Monterey Peninsula Home Team to see if this property is still available and to set up an appointment (831) 626-2277.

Search All Mar Vista Neighborhood Real Estate for sale.

Monterey Real Estate For Sale - 8 Shady Lane

Monterey real estate is highly desirable and the home for sale at 8 Shady Lane in Monterey's highly sought after Mar Vista neighborhood is no exception.  Custom built in 1957 and completely remodeled recently makes this 3 bedroom, 2 bath Mar Vista neighborhood property ready to move into.  

Architecturally interesting from the curb, this piece of Monterey real estate has many extra touches.  The front porch is finished in slate tile and the walkway is paver stones along with the driveway and sidewalk, giving this home a unique look from the curb.  The front yard is nicely landscaped with relatively low maintenance plants, although it does have a small lawn that will need an occasional mowing.  Brick lined planter boxes in front of the home finish the look.

Once inside, the large great room with hardwood floors, a vaulted ceiling and a fireplace grabs your attention.  A sliding glass door lets you out to the deck where in this part of Monterey, the sun almost always comes out, making the Mar Vista area a great area to BBQ and eat out on the deck. The kitchen has been updated along with the rest of the house and includes newer cabinets, under cabinet lighting, ceramic tile floors as well as tile counter tops.  There is a breakfast nook on one end of the kitchen and the laundry room is on the other end.  A master suite, two more bedrooms plus a remodeled bathroom make up the rest of the house.

Beautifully Master Suite in this Monterey Home for Sale

The master suite is spacious and comfortable and it offers the home owner privacy from the other bedrooms which are located across the hall.  The master bath is also roomy and luxurious with a walk in shower, dual vanities and a large claw footed soaking tub.

Click here to see additional images of this Monterey, CA home for sale in the Mar Vista Area.

Mar Vista Neighborhood Real Estate – Monterey, CA 93940

Monterey real estate is highly desirable and the Mar Vista area real estate in Monterey is no exception.  The majority Monterey's Mar Vista real estate was developed in the 1950’s and 1960’s, with a few homes being built out later in the 80’s and 90’s.  There are two very attractive features to real estate in Mar Vista.  First, the fact that you are living in a great central location close to downtown Monterey, Pacific Grove and Carmel is very attractive for full time residents.  And secondly, there are incredible views of the Monterey Bay and the twinkling lights of Monterey, Seaside and Marina.  People looking for fantastic ocean view real estate must take a look in Monterey’s Mar Vista Neighborhood.

Mar Vista real estate remains relatively affordable when you compare it to other areas around the Monterey Peninsula. Homes in the Mar Vista area of Monterey range from the low $500,000's all the way up to close to $2M.  If you are thinking about purchasing a home for sale in Monterey, you have to take a look at this great neighborhood.

To see the latest 3 real estate listings of Mar Vista neighborhood homes for sale, click here. For a full list of Mar Vista Neighborhood real estate available, you can build an advanced search.

Our website has detailed information including Monterey’s Mar Vista real estate statistics. If you are interested in learning more about real estate values in this Monterey, CA neighborhood or if you are interested in seeing Monterey homes that are for sale in the Mar Vista area, contact us.

Find Similar Homes in the Area

Short Sales NOT SUBJECT to State or Federal Income Tax for Cancellation of Debt

Just in time for the holidays! This is very big news for Californians involved in short sale transactions. This is not a temporary fix, but rather a long-term solution in addressing tax liability on short sales in California. Details from C.A.R.'s legal team below. 

Short sales in California are generally not subject to state or federal income tax for cancellation of debt. The Franchise Tax Board (FTB) issued a letter yesterday stating that, as nonrecourse obligations, short sales in California are not subject to state income tax for cancellation of debt. The FTB's position conforms with the federal treatment of short sales stated in an IRS letter as we previously reported on November 15. These letters will provide welcome relief for short sale sellers given that the tax break for a qualified principal residence under the federal Mortgage Forgiveness Debt Relief Act of 2007 will expire at the end of this year, and similar protection under California law already expired in 2012. The FTB letter includes transactions that closed in 2012 but, as always, sellers should consult with their own tax professionals.

According to the recent FTB letter, "a California taxpayer would not have cancellation of indebtedness where the taxpayer was involved in a short sale pursuant to CCP section 580e." Section 580e of the California Code of Civil Procedure (CCP) generally protects borrowers from owing a deficiency after a short sale of a residential property with one-to-four units, including both first and junior trust deeds. Exceptions include fraud, waste, cross-collateralized loans, and borrowers that are corporations, LLCs, or limited partnerships. For more information, C.A.R. members may refer to our legal article on Short Sale Deficiencies (login required).

As with the IRS letter, the FTB letter states that even if no cancellation of debt income is owed, a taxpayer may nevertheless have capital gains to the extent that the outstanding debt exceeds the tax basis for the property. A principal residence, however, is generally excluded from capital gains tax up to $250,000 for single taxpayers and $500,000 for married couples filing joint returns (under 26 U.S.C. § 121).

This will affect real estate homeowners that were forced to short sell their homes in Monterey County including the cities of Carmel, Carmel Valley, Pacific Grove, Pebble Beach, Monterey, Salinas Monterey Highway, Seaside and Marina.