Okay, so here it is...my first blog!
My name is Chris Segovia and I'm a fourth generation resident of the Monterey Peninsula and a Realtor with Keller Williams Realty in Carmel. I've been licensed since 2002.
I would like to begin by providing a brief segment about my family history. Following that, I've added a few paragraphs about our current real estate market; mainly pricing trend info, unit sales and my buyer and seller recommendations.
Let me begin with my great-grandmother, Rose, alive and well at the wonderful age of 98! She's an incredible lady and the glue that bonds our family together. She's been an inspiration to me and a true friend to so many generations of Monterey residents. She's still sharp as a tack and has never lost her feisty entrepreneurial spirit. If I could only learn half of what she's already probably forgotten I would feel incredibly fortunate. Problem is, she doesn't forget anything and can tell you what kind of car her daughter's boyfriend was driving in May of 1953! She's commonly referred to as Mama Rose not only by family but also by our local patrons and friends. Many locals that may come across this blog will know exactly what I'm talking about and the familiarity of the family name, Segovia.
Rose and my late great-grandfather Al, opened up a friendly, bustling tavern back in 1937, originally named, "Al's Place." In 1964, their son, my grandfather, Larry, who is really more like a father than a grandfather to me, moved the location of the tavern across the street and renamed it, "Segovia's." Similar to "Cheers", it's a place where everyone truly does know your name! I could go on about the history of my family; stories about Mama Rose working down in the sardine canneries (what is now known as Cannery Row) prior to opening the bar, or, speaking of "Cannery Row," John Steinbeck being a regular at the bar and much, much more. However, I can't use all my material on the first blog!
I've lived on the peninsula just about my entire life (except my college years) and love it here. It's also a good thing that I ended up back here in Pacific Grove (my hometown) because in doing so, I met my beautiful wife, Julia, of Aptos, CA, who's also in the industry as a Mortgage Loan Consultant with Stone Castle Land and Home Financial in Carmel. You can view her website here, http://JuliaSegovia.com.
My goal with this first blog is to touch on our local real estate economy and begin to build relationships with people along the way. Whether you're just curious about the peninsula or if you're planning to purchase or sell in Carmel, Pacific Grove, Monterey, Carmel Valley, Pebble Beach or other surrounding areas in the future, I hope to be a valuable source of real estate information for you. Each month, I send out a real estate report for Monterey County. You can sign up for it on my website http://SegoviaRealEstate.com, called The Real Estate Report.
Below, is an exerpt from my December newsletter.
PRICES UP - SALES DOWN:
The median price for homes in Monterey County gained 0.8% in November, down 3.6% year-over-year. The average price rose 6.4, down 3.6% compared to last year. Home sales fell 4% from the month before and
were off 26.4% year-overyear. Condo prices rebounded sharply with the median price rising 31.6% to $525,000, just $5,000 short of the record set last July. The average price did set a new record, rising 48.9% to $718,771. Sales were down 6.7% compared to October, down 46.2% year-over-year. With less than 50 sales in most months, these numbers fluctuate wildly.
The inventory of single-family homes in Monterey County continued to fall, dropping 6.9% last month, up 26.2% compared to last November. The sales price to list price ratio for homes fell 0.8 of a point to 94.5%. The ratio for condos dropped 1.2 points to 96.5%. Our Days of Inventory indicator dropped 12 days to 383 days.
My advice? For buyers, the market looks to be tightening up. Inventory is now at its lowest level since March. Prices look pretty stable. I wouldn't expect any sharp falls in price. If you are looking to buy, this may not be a bad time to do it, especially with mortgage rates at their low for the year. For sellers, sales are at the second lowest level since 1998. There is activity, but the franticness of the past few years has been washed out of the system. If you really want to sell your home, you need to entice offers and then negotiate them. Remember, in a market like this, your first offer is very often going to be your best offer. Work it.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood, call me or email me. If you have any questions, I encourage them and will do my very best to answer them as quickly as possible. I look forward to speaking with you!
All the best,
Keller Williams Realty
Carmel, CA 93923