What are the effects of the Sub Prime debacle on the Monterey Peninsula

Real Estate Agent with Keller Williams CalBRE 01362347


Entry level homes on the Monterey Peninsula (Monterey, Seaside, Marina, Pacific Grove) has relied somewhat on move up opportunities from the Salinas communities (Salinas, Marina, Soledad, Greenfield, Gonzales, King City, Prunedale, Las Palmas, Oak Hills).  Unfortunately a large percentage of home buyers in Salinas and surrounding areas relied upon sub prime loans and 100% financing opportunities.  Since that market is gone, Salinas is in a very depressed state and those homes are not selling very quickly which in turn is hurting the lower end of the Monterey Peninsula market.  Higher priced homes and communities are still moving at an above average pace.

Comments (2)

Brad Andersohn
Retired Executive Director of Education at eXp - Boulder Creek, CA
ActiveBrad - 707.646.1876

Hi Ben, I see this is your first post on Active Rain.  Congratulations!!  I just wanted to welcome you to our Real Estate Industry Network! 

Welcome aboard, I hope you'll continue to blog, and invite others.  Wishing you all the success this industry has to offer.


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I hope you'll find these to be useful tools in helping you get started here on Active Rain.  You will meet many wonderful people here!! Again, welcome to Active Rain, the best place for your Blog!

Good Luck to you and your business!
Jul 31, 2007 06:10 PM
Blatt + Cutino
Coldwell Banker Realty - Monterey, CA
Broker-Associate 831/206-8070*Call today*

Hi Ben,


Very nice! It's great to see a familiar face here. Keep blogging..you have a great voice!

Aug 01, 2007 12:14 AM