During the last few days there have been an increasing number of buyers contacting me about finding certain types of properties. Now, keep in mind that inventory at the lower end is spars and moves very quickly. That often means that some of their "wish list" items just cannot be met.
Here are some examples:
1. Looking for an FHA home in Monterey County where the maximum allowable purchase price is $615,250. Well, most homes in the particular area that they are looking at start in the $700,000. And even at that price, inventory is very low.
2. Vacant Land buyers are plentiful but once they realize what it costs to buy a bigger piece of land such as 10-40 acres, make sure there is water available rather than having to drill for it, put in a septic, and a driveway to get to the potential building site, the development costs have just gone way up even before thinking about putting a house on it.
3. The closer to the ocean, the higher the price. Yes, it's all about LOCATION, LOCATION, LOCATION. Yes, you can get a mini mansion in many places in the US for under a million dollars, but not in Carmel-by-the-Sea. You can't even find a shack here for that. Did you read the news the other day that a burned down house went for a million dollars in San Jose? Yes, Silicon Valley is another area just up the road with sky high real estate.
4. They want to be in a certain school district. Now that is interesting, because certain properties are just not selling because they are in the wrong school district. Enough said about that. Can't fight the system.
But I do my level best to assist buyers. In many cases, they will change their criteria because they want to live on the Monterey Peninsula and that's the price to pay. Other times, they will look elsewhere but then come back when they realize they don't want to give up their dream of living near the ocean.
Want to live here? Give me a call and I will see how I can match you up with a property.
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