Weekly Luxury Market Report for Carmel and Pebble Beach Real Estate for the Week of September 24th

This past week Pebble Beach had 4 new listings go live in the MLS including a Mid-Century home with lovely views of Stillwater Cove. This abode showcases a hefty price tag of 8.75 million, note it was last sold in 1996 for 1.8 million. Recently renovated to current day standards we will see if a buyer can justify paying 4 times as much 19 years later. Only one home went pending sale this past week, a classic ranch home on Birdrock road, scheduled to close escrow of October 19. Two homes sold this past week in Pebble Beach. Of notable mention is 1302 Portola Road, a short-sale luxury home that was listed with 2 different agencies over 4 years before selling. The lucky buyer scooped up this 10,281 SF property, built in 2008, for 376 dollars a SF, WOW the best deal ever!!!!!!! Originally listed in 2011 for $6,495,000 it finally sold at $3,850,000 or almost 41% below asking price. As I always advise my sellers “get your listing price RIGHT the first time out of the gates…or you will pay dearly.” Lessons to be learned as a seller don’t let your ego rule realities of the market. Don’t let a real estate agent take your listing with false promises of a fake list and selling price. Many agents promise the sun, moon, and stars because they like to see their name in lights but they never deliver. They use your over priced listing to pick up more clients while providing no service to you!

 

Click on the link to search the most up-to-date information on available Pebble Beach homes for sale.

The revved up sales of summer in Carmel are puttering down, we saw a dip in activity with only 6 new listings. One of note, a luxurious, contemporary home on Yankee Point jumped on to the market at $12,888,888. Very strange, because this home just sold in November of 2014 for $7,288,888, from what I see no changes have been made to the home and now they want 5.6 million dollars more?? Crazy that they think some buyer is willing to throw around an extra 5.6 million and pay 77% more in merely 10 months. Here is a perfect example of a FALSE promise on sales price made by a listing agent. Do these sellers really think that buyers don’t do their research when they buy a home? Hum maybe there is a story behind this home we don’t know about, stay tuned as we track this saga.

 

7 luxury homes went pending this past week and 8 luxury sales closed. The golden rectangle continues to be the buyer’s first choice in Carmel. Two homes in the golden rectangle hit the market and closed in less than 14 days. A frustrating situation for sellers in other sections of Carmel that have beautiful homes and end up waiting longer to sell their homes.

 

Side note – my listing on Guadalupe 4NE of 6th,  a stunningly, luxurious, NEW, Carmel-by-the-Sea Craftsman Cottage, was recently reduced and now features a sweet-smelling price of 1.999 million. Stop by the open house this Saturday from 1 – 3pm.

 

Click here to search the latest available Carmel homes for sale.

 

Quick Recap: While fears of the global economic stability loom and interest rate remain low, buyers should capitalize on the volatility in our markets. Deals are to be made in uncertain times. If you wait for perfect conditions you arrive to the table late for dinner! I encourage all of you thinking about buying or selling to use the market conditions to your advantage. Note I am always here to share free advice to my trusted sphere of clients, call me anytime to discuss our real estate market.

 

On a social note here’s a heads up for next week, the many events of “Taste of Carmel” begins next Thursday, October 1st, click on the link for more information and buy your tickets now, this is a popular event and might sell out fast! Until then, here’s what’s going on around town this weekend: