Monterey Peninsula Real Estate Blog

Photos to Soothe the Soul

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Mon, 21 May 2012 17:23:45 -0700

Monday's are always crazy days in the real estate world. Usually the weekends are crazy busy and Monday is about catching up with all of your sellers, opening up an escrow or two if you are lucky, putting together the plan for the week and starting to make all of those phone calls we need to make. I find that by the end of the day on Monday I am pretty well beat so I thought it might be a good idea to start a post of photographs that help people unwind. I have started the post with this shot I took at Yosemite National Park on an overcast day. I find there is something about the textures, the rough boulders against the flowing creek that justs puts me at ease. Please post your favorite photos that help you unwind or have a calming affect. I would love to see them and be able to come back to them on Mondays.

Mark Bruno Mark and his real estate team all live, work and play on the Monterey Peninsula including Carmel, Carmel Valley, Marina, Monterey, Pacific Grove, Pebble Beach, Seaside and the Highway 68 Corridor.

Just Listed - 180 San Benancio - Corral de Tierra real estate for sale

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Mon, 21 May 2012 16:03:27 -0700

180 San Benancio - Home for sale - Very Private

Overview
Maps
Photos
Description
Market Stats

Contact us for pricing

Single Family Home

Main Features

4 Bedrooms
2 Bathrooms
Interior: 2,537 sqft
Lot: 16.94 acre(s)

Location

180 San Benancio Rd
Salinas, CA 93908
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

25385 Markham Lane Corral de Tierra, CA Real Estate for sale
180 San Benancio - Home for sale - Very Private
489 Laurel Ave Pacific Grove Real Estate for sale
Lot for sale in Sand City, CA
(Price Reduced) Live Above the Coastal Fog

Subscribe to our listing feed

Nearby properties for sale

Just Listed - 25385 Markham Ln, Corral de Tierra, Real Estate for sale

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Mon, 21 May 2012 15:57:34 -0700

25385 Markham Lane Corral de Tierra, CA Real Estate for sale

Overview
Maps
Photos
Description
Neighborhood

$827,770

Single Family Home

Main Features

3 Bedrooms
3 Bathrooms
1 Partial Bathroom
Interior: 2,618 sqft

Location

25385 Markham Lane
Corral de Tierra, CA 93908
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

Subscribe to our listing feed

Nearby properties for sale

489 Laurel Ave Pacific Grove, CA Real Estate for sale Just Listed

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Fri, 11 May 2012 11:16:45 -0700

489 Laurel Ave Pacific Grove Real Estate for sale

Overview
Maps
Photos
Description
Neighborhood

Contact us for pricing

Multi Family

Main Features

7 Bedrooms
5 Bathrooms
4 Units
Interior: 2,000 sqft
Lot: 6,000 sqft

Location

489 Laurel Ave
Pacific Grove, CA 93950
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

489 Laurel Ave Pacific Grove Real Estate for sale
Carmel Custom Home with Views of Monterey Bay
1236 Hilby Ave. Seaside, CA Real Estate for sale
740 Filmore - Real Estate for sale in Monterey, CA
3850 Rio Rd # 92 - Condo for sale in Carmel, CA

Subscribe to our listing feed

Nearby properties for sale

Just Listed 1236 Hilby Ave. Seaside, CA Real Estate for sale

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Thu, 10 May 2012 19:15:49 -0700

1236 Hilby Ave. Seaside, CA Real Estate for sale

Overview
Maps
Photos
Description
Neighborhood
Market Stats

$197,000

Single Family Home

Main Features

2 Bedrooms
1 Bathroom
Interior: 728 sqft
Lot: 5,400 sqft

Location

1236 Hilby Ave
Seaside, CA 93955
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

1236 Hilby Ave. Seaside, CA Real Estate for sale
740 Filmore - Real Estate for sale in Monterey, CA
3850 Rio Rd # 92 - Condo for sale in Carmel, CA
Carmel, CA Condo for sale - 3850 Rio Rd. Unit 91
Downtown Monterey Historic Retail Building For Sale

Subscribe to our listing feed

Nearby properties for sale

Monterey County Real Estate Statistics Thru April 2012

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Tue, 08 May 2012 02:34:10 -0700

Low inventory and high demand are pushing the Monterey Peninsula real estate markets into multiple offers with the attendant frustration of the losing bidders.

Inventory, or lack thereof, is at ten year lows.

Prices have yet to respond to the situation. We expect prices to start showing some strength in the coming months.

The high end of the market, however that is defined in a particular city, is solid. The low end of the market is being driven by investors with cash and is seeing the most activity. The middle market, the move-up market is soft because the entry-level homeowners are still underwater.

What’s next?

That’s hard to tell because inventory is so low and is putting constraints on the market breaking out. We don’t see that changing much in the near future for several reasons.

First, there is not a lot of new home building going on, which is necessary to relieve the pressure.

Second, many existing homeowners aren’t going anywhere. Many of them are still underwater and can’t sell without taking a big loss.

Lastly, forget about phantom inventory. As of March, the banks owned 816 properties in the county. That number includes homes AND condos. There are currently 697 homes AND condos actively listed for sale.

Even if the banks put all their inventory on the market, it’s less than four weeks worth!

We’re stuck with this market for at least the next year.

The median price for single-family, Monterey County re-sale homes rose 8% last month compared to the year before. The median price has been up, year-over-year, in Monterey County for the past six months in a row.

Home sales for Monterey County were up 0.8% year-over-year.

Pending home sales were up 30% year-over-year. Usually, this bodes well for the future. Unfortunately, in this multiple offer environment, many of these pending sales are not closing because the properties don’t appraise, the buyers can’t qualify for a loan, or they get cold feet.

Pending sales, in a normal market, track closed sales very closely. But, since 2008, the disparity between pending and closed sales has widened to historically high levels.

This is an extraordinarily tough market for buyers. It’s important to be calm and realistic. If you don’t know what to do or where to begin, give me a call and let’s discuss your situation and your options.

More Monterey County Market Statistics

Search Monterey Peninsula Real Estate

Monterey Peninsula Community Research

Hwy 68 Real Estate, Monterey, CA - Why are homes not selling?

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Fri, 13 Apr 2012 12:13:43 -0700

I recently received this email from one of our past clients asking about the market around their home (Monterey Salinas Hwy off San Benancio Rd.). I thought it would be great to include their her email and my response here:

Sent: Friday, April 13, 2012 11:04 AM
To: Bruno, Mark
Subject: San Benancio Homes not selling...

Hi Mark:

Can you explain why homes are not selling on San Benancio? There are so many for sale. I think one of the reasons is we are in Salinas High School District, plus so many people are getting old, who built up here in the 50's/60's, are not keeping their property "up to date". I also notice the homes that are for sale are in the $500-600. Sad for us who take care of their property.

Hi to your Mom.

Regards,

Josephine

My respopnse to Josephine's email:

Sent Friday, April 13, 2012 12:05 PM

Hi Josephine,

Thanks for your email. I think all of your points are valid, but there seems to be two other major reasons homes are slow to sell in your area (Monterey Salinas Hwy off San Benancio Rd.) in my opinion. The whole HWY 68 Corridor was built as an alternative to living on the Monterey Peninsula..A way to live in the sunshine but still have the Monterey Peninsula lifestyle. The majority of home owners out on 68 had property in town (Pacific Grove, Monterey, Carmel, Pebble Beach) that they sold for a profit and were able to build very nice homes on nice sized lots with acreage out off 68 and still put money in the bank towards retirement or college for their kids, etc. With the current situation on the Peninsula, very few sellers are in a position to sell their Pacific Grove, Monterey, Carmel or Pebble Beach home at a profit, which means the ones that do not have to sell are sitting tight in town until the market improves. The people who have to sell (or are losing their homes to foreclosure/short sale) are not in a position to buy a home. In either case the Monterey Peninsula home owner (or recent seller) insn't in a position to make a purchase.

The other issue is there are just a lack of qualified home buyers right now that are looking for primary residences in our area. Most of the buyers we are encountering are second home buyers looking for a vacation home near the water. The only buyers considering 68 are those relocating here full time (we sold two properties this way last year) or first time home buyers. In general, these buyers cannot afford a the higher prices in town or they do want the sunshine. This is a very small pool of buyers, so good old supply and demand is driving the prices down. The distressed sellers are willing to let their properties go for very low prices and the result is the bar being lowered for the rest of the property owners in the area.

In general, we think the Monterey Peninsula cities are very close to being on their way to recovery. Some would argue that we are already on our way...The Hwy 68 corridor will lag a year to 2 years behind the Pacific Grove, Carmel, Monterey & Pebble Beach recoverey. So my best guess is we will continue to see tough conditions out there for another year or two...Maybe a tad bit longer.

I hope this answers your questions. Mom is doing great! I copied her too, so she can chime in if she likes.

Take care,

Mark

Downtown Monterey, CA Building for Sale

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Tue, 10 Apr 2012 14:17:45 -0700

Downtown Monterey Historic Retail Building For Sale

Overview
Maps
Photos
Description
Neighborhood

$2,100,000

Commercial

Main Features

12 Units
Interior: 10,082 sqft
Lot: 15,246 sqft

Location

486 Alvarado Street
Monterey, CA 93940
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

Downtown Monterey Historic Retail Building For Sale
740 Filmore - Real Estate for sale in Monterey, CA
Live Above the Coastal Fog
Stunning American Craftsman 12 Acre Estate
Cottage plus 3 Townhouses for sale in Pacific Grove

Subscribe to our listing feed

Nearby properties for sale

Help for Underwater Homeowners - Harp 2.0 is here!

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Tue, 13 Mar 2012 20:12:23 -0700

We wanted to give you the very latest on the new Home Affordable Refinance Program, or HARP 2.0 refinance program to hopefully help you or someone you know. This program helps those with owner-occupied, non owner-occupied and 2^nd homes who could not refinance in the past. Please email or call if you have any questions!

Does your loan qualify?

Check with these websites to see if you qualify: http://www.fanniemae.com/loanlookup/ or https://ww3.freddiemac.com/corporate/

Or call us and we can check for you.

Program highlights:

· No minimum credit score

· No appraisal required on most refinances

· Limited verification of employment and assets

· Unlimited loan-to-values and combined loan-to-values

· SFR, 2-4 units, Condos, PUD’s accepted

· Past bankruptcies and foreclosures could be okay

· Property recently listed – just needs to be cancelled

· Unlimited properties financed (Fannie Mae owned loans, max 4 properties with Freddie Mac)

· MI is not required if you do not have it now

· Past mortgage lates ok

BIf you need help rfinancing your home, be sure to contact us for a referral to a great lender who can help you with this program.

Carmel Beach Home Just Sold by the Monterey Peninsula Home Team

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Tue, 06 Mar 2012 18:53:35 -0800

Carmel by the Sea Beach House Just Sold by Monterey Peninsula Home Team

Overview
Maps
Photos
Description
Neighborhood

$2,700,000

Single Family Home

Main Features

5 Bedrooms
4 Bathrooms
Interior: 3,088 sqft
Lot: 9,000 sqft

Location

2807 14th Ave
Carmel, CA 92923
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

Stunning American Craftsman 12 Acre Estate
Cottage plus 3 Townhouses for sale in Pacific Grove
774 Archer St in Monterey, CA
Escape the Coastal Fog
Lot for sale in Sand City, CA

Subscribe to our listing feed

Nearby properties for sale

Pebble Beach Mediterranean Home Just Sold by Monterey Peninsula Home Team

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Tue, 06 Mar 2012 17:37:20 -0800

Pebble Beach Mediterranean Home Sold by Monterey Peninsula Home Team

Overview
Maps
Photos
Description
Neighborhood
Market Stats

$2,125,000

Single Family Home

Main Features

4 Bedrooms
3 Bathrooms
1 Partial Bathroom
Interior: 3,454 sqft
Lot: 10,338 sqft

Location

3141 Bird Rock
Pebble Beach, CA 93953
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

Stunning American Craftsman 12 Acre Estate
Cottage plus 3 Townhouses for sale in Pacific Grove
774 Archer St in Monterey, CA
Escape the Coastal Fog
Lot for sale in Sand City, CA

Subscribe to our listing feed

Nearby properties for sale

Carmel Home in Tehama Golf Community

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Wed, 29 Feb 2012 15:14:19 -0800

Stunning American Craftsman 12 Acre Estate

Overview
Maps
Photos
Features
Description
HD Video
Neighborhood
Market Stats

$5,850,000

Single Family Home

Main Features

3 Bedrooms
4 Bathrooms
4 Partial Bathrooms
Interior: 5,667 sqft
Lot: 12.90 acre(s)

Location

25805 Via Malpaso
Carmel, CA 93923
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

Stunning American Craftsman 12 Acre Estate
Cottage plus 3 Townhouses for sale in Pacific Grove
774 Archer St in Monterey, CA
Escape the Coastal Fog
Lot for sale in Sand City, CA

Subscribe to our listing feed

Nearby properties for sale

Cottage plus 3 Townhouses for sale in Pacific Grove

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Wed, 29 Feb 2012 12:11:18 -0800

Cottage plus 3 Townhouses for sale in Pacific Grove

Overview
Maps
Photos
Description
Neighborhood

$1,095,000

Multi Family

Main Features

8 Bedrooms
4 Bathrooms
4 Partial Bathrooms
4 Units
Lot: 5,400 sqft

Location

316 7th St
Pacific Grove, CA 93950
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark, Lynda, Jeff & Anthony

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Monterey Peninsula Home Team - Coldwell Banker

Our recent listings

Cottage plus 3 Townhouses in Pacific Grove
774 Archer St in Monterey, CA
Escape the Coastal Fog
Lot for sale in Sand City, CA

Subscribe to our listing feed

Nearby properties for sale

18383 Corral del Cielo - Real Estate for sale - Monterey Peninsula Home Team

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Mon, 20 Feb 2012 19:26:34 -0800

Escape the Coastal Fog

Overview
Maps
Photos
Features
Description
Video
Market Stats

$747,000

Single Family Home

Main Features

3 Bedrooms
2 Bathrooms
Interior: 2,160 sqft
Lot: 3.31 acre(s)

Location

18383 Corral del Cielo
Salinas, CA 93908
USA

To get updates on open home dates and other property events, please click the "Like" button below:

Mark Bruno

Monterey Peninsula Home Team
(831) 917-8190
mark.bruno@cbnorcal.com
http://www.MontereyPeninsulaHomeTeam.com

Listed by: Coldwell Banker

Nearby properties for sale

Video of our new listing at 18383 Corral del Cielo Rd in Salinas, CA

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Sun, 19 Feb 2012 15:47:22 -0800

Carmel, Pebble Beach, Silicon Valley housing market “likes” Facebook

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Fri, 17 Feb 2012 09:38:15 -0800

Carmel, Pebble Beach, Silicon Valley housing market “likes” Facebook, other IPOs –

(and rest of the Bay will, too)!

Unless you were lost in a forest somewhere this week, you couldn’t have missed all the news coverage about Facebook’s much-anticipated announcement that it plans to launch an initial public offering this spring.

Financial gurus have been abuzz about the deal, which could value the company at an astronomical $100 billion and make millionaires – and even some billionaires – out of hundreds or even thousands of employees, venture capitalists and even one very lucky graffiti artist, who’s stock certificates for painting murals in the company headquarters years ago will be worth an estimated $200 million.

Facebook’s IPO could put a charge into the financial markets, especially the tech sector, much the way Google ignited a NASDAQ run after going public in 2004. Similarly, many real estate experts believe that the “Facebook Effect,” as it’s becoming known, could fuel strong growth in the local housing market – and not just Silicon Valley, but in nearby areas such as the East Bay and San Francisco.

The heart of the Peninsula – areas like Palo Alto and Menlo Park – are already experiencing tremendous shortages of homes on the market. There just aren’t enough listings to meet the strong demand from qualified buyers. It doesn’t take a rocket scientist (or Facebook engineer) to figure out what will happen to the law of supply and demand when you add hundreds or thousands more newly minted millionaires looking for homes.

Multiple offers are becoming the norm again in the heart of Silicon Valley, and homeowners are already getting unsolicited offers on a weekly basis. Many who are thinking of selling say they’re holding off until after the IPO in hopes of getting a higher price – a risky gamble of timing the market I believe. But nonetheless, as demand heats up in the Valley and many of those new millionaires have trouble finding a home or don’t want to pay the premium prices, it stands to reason that you may have a spillover effect of buyers looking elsewhere.

Our Menlo Park manager, Wendy McPherson, told the San Jose Business Journal that she believes the East Bay market could be one beneficiary of that Facebook spillover. Some of the areas like Fremont are just a stone’s throw away from Silicon Valley, or in this case a Dumbarton Bridge ride away. Fremont is already the home to many well-paid tech workers who drive into the Valley every morning. Commutes from some areas of the East Bay wouldn’t be much more than from many parts of Silicon Valley.

Young Facebook employees who aren’t ready for suburban life may also choose to head north to San Francisco, where they can enjoy all that the city has to offer. The hip, urban existence of clubs, restaurants, art galleries and the theater are very attractive selling points to well-healed 20-somethings. And Silicon Valley companies are known for providing shuttles for their San Francisco dwellers, either to the train station or even to the headquarters itself.

Of course, Facebook isn’t the only driver of growth in the Bay Area housing market. Certainly there have been other high-profile IPOs in recent years, including Groupon, Zynga, and Pandora. And McPherson has researched 18 other upcoming IPOs from companies that employ 15,000 workers. If even 20 percent of those decide to buy a first home or trade up, the impact on the market could be enormous, she notes.

While much of the job growth has taken place in Silicon Valley, the East Bay has quietly been the beneficiary of expansion in certain areas, most notably the San Ramon Valley along the Interstate 680/580 corridor. Lost in all the headlines of the tech world was the fact that General Electric plans to build a $1 billion innovation center in San Ramon’s Bishop Ranch development. Such expansions could result in hundreds of new jobs in that area alone.

Given the robust economic growth in the Bay Area, it’s hard not to be optimistic about the future of our housing market.

Below is a market-by-market report from our local offices:

North Bay – There is definitely a feeling of change in the air compared to the last several years, according to our Southern Marin manager. The biggest difference over the last few weeks is we are beginning to see multiple offers and full price offers on properties other than REOs and short sales. A property in San Anselmo listed at $899,000 got six offers, and a property in Mill Valley priced at $1,695,000 that didn’t sell last year got offers immediately after going back on this year fully staged. Not enough inventory continues to be the problem, according to our Greenbrae manager. Very few new listings are on the market, and while sales are starting to occur, it has been slower than anticipated. There is a lot of pent-up buyer demand as evidenced by the number of multiple offers. Attached are some market insights straight from the agents. The inventory in Northern Marin remains low as well with the same average we continue to see each week – around 100 properties, ranging in price from $134,000 to $2.5 million. Buyers are finally realizing that if they want a property, they have to move fairly aggressively on it. Across the board, we are seeing an average of 98% sales price to list price. REOs are priced to move very quickly, and along with short sales, are still making up a large part of our market in Northern Marin. In the wine country market many of the luxury sellers have adjusted their pricing lower in order to capture buyers who have been hovering for several buying seasons. This has created a good amount of movement in this category. While inventory is at drastically low levels across all categories, Sonoma County is a great value relative to the historic relation with Marin and San Francisco Counties, our Santa Rosa manager says. Obviously as the shortage of inventory persists, we expect prices to rise as we move through the year.

San Francisco – Inventory is moving very quickly, our San Francisco Market Street manager reports. The average days on market – from when a property hits the MLS to ratified contract – is around 35 days. Since the new year, agents are agreeing that there is an increased confidence among buyers and that demand is very strong. Open house activity has picked up tremendously, and properties often have offers before the first open house. We are also seeing that much of the previously unsold inventory is now spoken for, buyers are taking advantage of property that has been on the market for quite a while and going in and making deals for themselves. An interesting anecdote: one Market Street agent ratified on a property in December for roughly 10% under the ask price. The deal fell out of escrow, he encouraged the sellers to hold off on remarketing the property until after the new year and to spend a nominal amount to spruce up and stage the home. Fast forward about 5 weeks and the property is now ratified again, in 11 days, at a contract price of 22% higher than the old offer. Our Sunset office manager says open houses are very well attended. One Outer Sunset home had 120 groups during a 2-hour period. Demand remains strong but inventory level is still very low. From SF Lakeside, two examples of Multiple Offers: 12 Offers - went more than 10% over; 22 offers - went more than 10% over. Still record low inventories. Interest rates low but financing guidelines still tightening. All these factors and more lead to a market that is healthy and quick to respond but unforgiving of overpricing or under-preparing. This is a market where the professionalism of our agents really pays off for their clients - both buyers and sellers.

SF Peninsula — Burlingame agents are still waiting for the inventory to build. They’ve had fabulous open homes with big buyer turnouts. Most buyers are motivated to purchase now and have done their homework in being pre-approved. The upper end of the market has had a slow start but more great properties are in the pipeline. Showings have increased in the $2-3 mill. range. As noted in the article above, the Menlo Park local market is really tight. There are too many buyers and not enough sellers – way of whack right now. Our Redwood City manager reports many buyers attending open houses while inventory remains low. When a well-presented property in a good location comes on the market it sells very quickly, often with multiple offers. It has been a heavy listing month for our San Mateo office as more homes coming on the market in the new year. Most of the sales in the Sebastopol area are entry level. Like other areas, agents there have more buyers than homes to sell.

East Bay – Low inventory and multiple offers are common in the Tri-Valley area. Closed sales in Livermore have been about even with last year for January, while closed sales were down from 45 to 27 in Pleasanton and down from 41 to 32 in Dublin. Dublin has been hardest hit city in the Tri-Valley area in regards to distressed sales. According to our Orinda manager, agents report they have buyers that are ready to purchase but feel the market may drop prices even further. Local inventory remains low. A few more properties are coming on to the market, our Walnut Creek manager says. Agents are seeing well-attended open houses with visitors who are finally ready to buy. Multiple offers are being made on many listings. In some corners of the market agents are actually seeing prices slightly increasing. There is a happy buzz in the air.

Silicon Valley – Our Cupertino office saw 21 offers on a modest home in the Lynbrook area, which was bid up by well over $100K. There suddenly has been a number of sales between $1.5M - $2M. Things are definitely heating up and buyers abound. Like other parts of Silicon Valley, the Los Altos market is regaining momentum but is still very, very low on good available inventory. There has also been increased activity for homes above $3 million. On the heels of a record setting sale in Los Gatos for $12 million in November, our local office just closed a buy side transaction in Los Gatos for $11.5. These are some good early indicators that the high end is picking up steam. For purchases in the below $500K range in the San Jose Almaden market, buyers and their agents are having to write numerous offers and are often getting beat out by all cash buyers. One agent wrote four offers over the weekend to have only one of them get accepted. Buyers are clamoring for inventory, which in this region is the lowest it has been since ’04. Prices are rising in this range with each seller coming out just a little higher than the last. Our San Jose Main office says the local market continues to be extremely active due to low inventory, low interest rates and an overall rise in consumer confidence. Open houses have been very busy over the past two weekends in all price ranges. And in Willow Glen, there has been an increase in listings and sales since the new year. Our local manager is hearing of more multiple offers of five or more. The Saratoga market is tracking almost identical to last year as far as the number of sales, listings and closings. The exception is that we started the year with inventory much lower than the beginning level from last year. It will be interesting as we see what happens to the market after the Super Bowl.

South County – The South County is on fire, our Gilroy manager says. Agents are seeing a lot of activity – both sales and open houses. Open houses are well attended. Multiple offers are prevalent on nearly every sale that is turned in. While we are not seeing crazy over-bidding, we are certainly seeing a lot of cash buyers and competition on terms. New REO listings are slowing considerably and we are seeing a great deal of regular sales. 42% of the active listings in Gilroy are distressed – either short or REO, 39% in Hollister, and 36% in Morgan Hill. According to our Morgan Hill manager, the South County continues to be a good alternative to those buyers who are looking for a better value—especially for upper-end homes. Estate-like properties on acreage with generous square footage prove to be much more affordable than similar homes in other Santa Clara County cities. During the past several months our Morgan Hill office has sold four homes—all priced in excess of $1.5 million. There seems to be significant demand for these types of properties, especially for buyers who find other communities too expensive. On the other side of the spectrum, entry level and moderately priced homes that show well are garnering multiple offers. With very low listing inventory agents are encouraging potential sellers that the time has never been better to list their homes.

Santa Cruz County – In Santa Cruz, the story is beautiful weather, high buyer demand and low, low inventory. If buyers are waiting for the “bottom” and have not purchased a home, they may have missed the mark by inches. The 3rd quarter of 2011 was the beginning of this trend, and Oct., Nov., and Dec. represented a 23% increase in closed sales in Santa Cruz County over 2010. In addition, with such low inventory, under 600 single-family homes currently on the market, this is driving buyers into frenzy in some instances and multiple offers. Interest rates are still at an all-time low as we enter into an election year. Buyers are out in full force at open houses. We have been receiving floor calls and many buyers are contacting their agents to find their dream property. Sellers also can benefit from this window of opportunity with less competition; homes that were not selling last year are selling now. Perception is reality and with only about three months of inventory, demand is far exceeding what current supply is. Right now in Santa Cruz we have the ideal conditions for buyers and sellers.

Monterey Peninsula – The Monterey Peninsula’s sales activity seems to continue at a steady beat. However, the decreasing inventory has caused many multiple offer situations of late. Inventory in the less-expensive areas—Seaside, Marina – of the Monterey Peninsula is down especially, what with fewer and fewer REOs coming on the market this past six months. Carmel is the hot spot in the luxury marketplace. Looking at the sales figures for 2011, it appears that Carmel may have bottomed out about a year ago and is now on the upswing, fueled primarily perhaps by the affluent Silicon Valley second-home buyers we have been selling to this past year. Agents are looking forward to the annual AT&T Pro-Am next week and record crowds are predicted due to the expectation of Tiger Woods’ appearance. Though agents don’t necessarily sell more homes during this time, they do sometimes make contact with golf fans that are interested in purchasing at a later time.

Volunteers wanted for the Pebble Beach AT&T Pro-Am February 6 -12, 2012

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Wed, 21 Dec 2011 18:50:31 -0800

2012 Pebble Beach AT&T Pro-Am Volunteers Needed

Happy Holidays!

I can't believe I am writing this email again! It seems like it was just a couple of months ago that we were all getting together to volunteer for the AT&T. As you all know, this event brings in millions of dollars each year to needed charities in Monterey County. As a matter of fact, it is my understanding that last year they topped over $7,000,000 for charity and the grand total raised by this event alone over the years topped $100,000,000!!! This is all thanks to the hard work the thousands of volunteers put in each year! What a great community we live in!

This year the tourney starts Monday February 6th and goes through Sunday February 12th. We need people all days of the event, but especially Thursday, Friday, Saturday and Sunday. Please let me know if you can help. Those who have done this before know that if you can work 4 full shifts, you get to go to the Tee Off Party, which includes a nice meal and a 2 hour show put on by the various celebrities that are in attendence. Last Year Darius Rucker (Hooty and the Blowfish and now an award winning country singer), Clay Walker, Huey Lewis, Michael Bolton, Kevin James and many others performed for us! It was a great time and a show that you would never have the opportunity to see anywhere else but at the Clambake!

So, if you would like to help us raise money for charity and have a lot of fun in the process, email me back and I will put you in touch with Teresa Bruno, my wife who is the vice chair for our group, which is "Special Needs Transportation." We help anyone who needs help getting on and off the golf courses with specialized golf carts and even special viewing sections! We have the best job at the tourney!

Happy Holidays to you all!

Mark Bruno

Monterey Peninsula Home Team

By the way, we've Gone Social! Friend us on Facebook, follow us on Twitter, read our blog or watch us on YouTube! Just click on one of the links:

Monterey County Foreclosure Outlook - Thru November 2011

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Wed, 14 Dec 2011 19:06:51 -0800

You are receiving this periodic Real Estate Update from the Monterey Peninsula Home Team as a valued member of our client appreciation program. We realize that without all of you continuing to refer your friends and family to us, we would not be as fortunate as we are in this business, so thank you for always thinking of us when it comes to real estate!

Many of you call with questions regarding the foreclosure market, so this months update will focus on foreclosures in Monterey County. By clicking HERE you can go directly to a page on foreclosure radar's website. Along with the Monterey County foreclosure trends, statistics, housing data and demographics, you can review every pre foreclosure, foreclosure or bank owned property by selecting a city or ZIP code in Monterey County from the list below. For further information on specific foreclosure properties just give us a call or send us an email.

Foreclosure Filings Down 24% from a Year Ago

06053 - Foreclosure Filings

Foreclosure Filings—Notice of Default filings are the first step in the foreclosure process. Notice of Trustee Sale filings set the date and time of an auction, and serve as the homeowners final notice before sale.

Back To Banks Down 29%

06053 - Foreclosure Outcomes

Foreclosure Outcomes—After the filing of a Notice of Trustee Sale, there are only three possible outcomes. First, the sale can be Cancelled for reasons that include a successful loan modification or short sale, a filing error, or a legal requirement to re-file the notice after extended postponements. Alternatively, if the property is taken to sale, the bank will place the opening bid. If a 3rd party, typically an investor, bids more than the banks opening bid, the property will be Sold to 3rd Party; if not, it will go Back to the Bank and become part of that banks REO inventory.

Foreclosure Inventories Down 36%

06053 - Foreclosure Inventories

Foreclosure Inventories—Pre foreclosure inventory is an estimate of the number of properties that have had a Notice of Default filed against the property, but have not yet been Scheduled for Sale. The Scheduled for Sale inventory indicates those properties that have had a Notice of Trustee Sale filed, but have not yet been sold or had the sale cancelled. The Bank Owned (REO) inventory indicates the number of properties that have been sold Back to the Bank at the trustee sale, and which the bank has not yet resold to another party.

Foreclosure Filings by Market Value

06053 - By Est. Market Value

Filings By Est. Market Value—The number of foreclosures that have received either a Notice of Default or Notice of Sale, shown in columns arranged by the estimated market value of the property in foreclosure.

Although the number of foreclosures is trending downward, the effects of the real estate downturn are starting to make its way to the Monterey Peninsula cities and the higher priced properties. We have felt the effect in Pacific Grove, Pebble Beach and Carmel, but it has hit much harder in Monterey, The Salinas Monterey Highway and Carmel Valley. Our best guess at this point would be the higher priced properties ($1M - $4M) will continue to see foreclosures erode values around. The lower priced properties in each city have seemed to level off a bit and there has been a lot of activity and even multiple offers on these properties. Email us for specifics if you are interested.

It does appear to be a good time for investors to get active and we are seeing a lot more investors making offers. With rents on the rise, it is the first time in a long time you are seeing investment properties that are penciling out.

Thank you all again for your continued support. Remember we are never too busy for your referrals!

Mark Bruno

Monterey Peninsula Home Team

Information on the California Foreclosure Process

We've Gone Social! Friend us on Facebook, follow us on Twitter, read our blog or watch us on YouTube! Just click on one of the links:

We Sold Another Pacific Grove, CA Home! This one has views of Monterey Bay

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Wed, 09 Nov 2011 13:04:45 -0800

1032 Bayview Avenue in Pacific Grove, CA 93950

The Monterey Peninsula home team just sold this great Pacific Grove, CA contemporary home with great views of the Monterey Bay. It is a three bedroom, 2.5 bath home with an updated kitchen, new windows, a balcony, fresh paint on the walls and new carpet on the floors. It was in move-in condition for it's new owners! It is ideally located in the bech tract area of Pacific Grove and is walking distance from downtown and several beaches.

We sold another Pacific Grove, CA home! A 100 year old Victorian this time!

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Mon, 07 Nov 2011 23:03:23 -0800

314 Wood St. in Pacific Grove, CA

The Monterey Peninsula Home Team has sold another home in Pacific Grove, CA! This one is a 100 year old victorian home located within walking distance to all that makes Pacific Grove a great town to call home. With 2 bedrooms and 1.5 baths, a modern open floor plan and a 1 car garage, this home will make it's new owner a great home for the next 100 years!

Don't forget to set your clocks back Sunday morning!

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Fri, 04 Nov 2011 16:09:25 -0700

Just a friendly reminder not to forget to set your clocks back one hour on November 6th. And when you or someone you know is in need of a real estate professional on the Monterey Peninsula, don’t forget that we are all here to help.

Monterey Peninsula Home Team

Pacific Grove Real Estate for sale - 515 Fountain Ave - Just Listed

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Sat, 15 Oct 2011 14:51:34 -0700

Pacific Grove Home for Sale - 515 -Fountain Ave

Located just a few blocks from Pacific Grove shopping and dining, is a 2219 square foot home with 4 bedrooms and 3 baths currently configured as a duplex. The main level offers 2 bedrooms, a bath, a living room, a mud room with laundry and a small kitchen. The upper level has 2 bedrooms and 2 bathrooms, including a master suite, a second living room, a kitchen and dining room. It has a nice deck in the back yard with a hot tub, a large 2 car garage and plenty of off street parking.

Offered at $695,000.

To schedule a private showing of this property or if you have questions concerning it, the area or other properties available on the Monterey Peninsula, email me.

Superior search engine for MLS. Search by city, year built, square footage or any other detail. You will see multiple photos, satellite image, full MLS descriptions. Click here to see how easy this is.

Detailed community information. For photographs, wikipedia link, demographics and more, click here.

Monterey Peninsula Home Team

Pebble Beach, CA Real Estate for Sale - 1130 Wildcat Canyon - Just Listed

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Sat, 15 Oct 2011 14:31:00 -0700

1130 Wildcat Canyon Rd Pebble Beach, CA 93953 - Home for sale

Located near Spyglass Hill Golf Course in Pebble Beach and just a little over a mile from Birdrock and the Pacific Ocean sits a darling 3 bedroom, 2 bathroom home. Built in 1960, the current family has called this property home since 1963 and it it now your opportunity to enjoy it. At a little over 1400 square feet, it is just the right size for those looking to lower their carbon footprint. With a large open-beamed livingroom with a fireplace and it's original oak floors this home has plenty of character. Come in and see if this could be your home for the next 48 years!

Offered at $698,500.

To schedule a private showing of this Pebble Beach, CA property or if you have questions concerning it, the area or other properties available on the Monterey Peninsula, email me.

For one of the best resources on Pebble Beach Homes for sale, click here. It has the entire Pebble Beach area MLS for free along with Pebble Beach community information, pictures of Pebble Beach, CA attractions, Pebble Beach CA Real Estate Statistics and more.

1130 Wildcat Canyon in Pebble Beach

Monterey Peninsula Home Team

Monterey Peninsula Real Estate for sale - 25224 Casiano Drive, Monterey/Salinas Highway, CA 93908

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Fri, 23 Sep 2011 18:56:37 -0700

25224 Casiano Drive

Located in the sunbelt just several minutes from Monterey, but what seems like hours from the fog of Pacific Grove and Pebble Beach, sits a stunning 10 acre retreat with a beautiful 6000 square foot contemporary home on it.

It is hard to believe the weather can be so different from the coastal fog of the Monterey Peninsula, but it is normal to see 10-20 degree warmer temperatures most of the year out here!. As such, you will find yourself spending a lot more time outdoors. The grounds are perfectly arranged for outdoor activities including swimming in a large pool with a slide, playing tennis on your own lighted court, lounging in the sun on your own sundrenched patio, cooking in your own outdoor kitchen with BBQ, and just hanging around outside in your outdoor living room.

At night, the coastal temperatures drop, but not to worry. The outdoor living room is equipped with gas heaters or you can fire up the large outdoor fireplace...Or better yet, take a hot tub!

The residence is beautifully appointed as you would expect! It has incredible entertaining space including a large formal living room with a dramatic fireplace, a beautiful formal dining room with a large domed ceiling, a large bar with incredible floor to ceiling windows and a large but cozy family room also with a fireplace. It offers a great mix of both formal and non-formal spaces and again is great for entertaining large and small groups of people.

The kitchen is all business and has some of the finest appliances money can buy and even has a built in pizza oven and a butler's pantry! There are two sinks and a large island making it ideal for cooking for a large family or entertaining a group.

There is a large master retreat on the second level with a fireplace, a private veranda and a large master bathroom. There are five more mini suites in the house plus a dedicated office.

This is a fabulous property that would be impossible to reproduce at the current price it is being offered at. If you are looking to get out of the fog and have privacy on your own spread of land, this a great opportunity for you.

25224 Casiano Drive, Salinas/Monterey Highway, CA 93908

Search the Monterey area for homes for sale.

Real Estate for Sale - 4144 Crest Rd in Pebble Beach, CA Just Reduced - $645,000

Mark Bruno (Monterey Peninsula Home Team - Carmel, CA - Coldwell Banker) — Tue, 13 Sep 2011 18:56:49 -0700

4144 Crest Rd in Pebble Beach - Just reduced to $645,000

If you like ultra modern styling in a mid-century home and you want to be in the great city of Pebble Beach, CA, this home is a must see for you. Completely re-worked in 2009, the designer of this modern mastrepiece skillfully and creatively used materials, textures and light to create a brilliant living space that is light, bright and ready for you to occupy.

With an open floor plan including a great room that is open to the kitchen, three bedrooms, one very hip bathroom and a nicely landscaped flat approximately 1/4 acre lot in the sunniest part of Pebble Beach, this home is well suited to the discerning buyer who wants a space that is perfect for entertaining small groups of people. It is centrally located just minutes to the Lodge at Pebble Beach, Downtown Carmel by the Sea, CA. Even the quaint city of Pacific Grove, the Monterey Airport or Monterey's Cannery Row are only a few minutes away.