Tina Carpenter

People ask all the time "how is business?" Lately I have told them how busy I am; with multiple homes in escrow as well as plenty of listings.

Am I busy closing deals or am I busy spinning my wheels?

This week I have pondered this questions time and time again. Unless you have cash it might feel like you are spinning your wheels.

One of my escrows that should have closed last month is moving at such a snails pace and I want to scream.

What I realized is that I have not explained to my current clients (buyers but especially sellers) how the lending climate is effecting every deal. Buyers with even the best credit scores, great jobs and money in the bank are being scrutinized with a fine tooth comb.

Some examples of this are:

• If unusual deposits have been made into an accounts there must be a paper tail showing where is came from.
• If you are moving to a new area the bank wants you to show that your income will be the same or more than it currently is.

So what? some might ask...the banks should have done this years ago and we would not be in this mess.

What this really means is time. More time to get a full commitment and more time to fund a loan equalling an escrow closing.

Gone are the days of a 30 day escrow!!

There are currently 8 homes on the market in Quail & Quail Meadows.

Six total in Quail:

Valley Greens Circle has a total of 4 active:

1. 7011 Valley Greens Circle listed for $2,521,680
2. 7028 Valley Greens Circle listed for $1,875,000
3. 7082 Valley Greens Circle listed for $1,495,000
4. 7055 Valley Greens Circle listed for $1,295,000

And there a is 1 home on Lake Drive and 1 on River Place:

1. 8074 Lake Drive listed at $1,995,000
2. 8016 River Place listed at $1,295,000

Two homes active on the market in Quail Meadows:

1. 5492 Quail Meadows Drive listed for $4,645,000
2. 5461 Quail Meadows Drive listed for $2,995,000

There are currently 3 homes in Escrow in Quail & Quail Meadows.

Two total in Quail:

1. 7030 Valley Knoll Drive due to close soon
2. 8073 Lake Place due to close on 3/31

One in Quail Meadows:

1. 5480 Quail Meadows Drive this home is due to close 3/2. for more information on this home visit Quail Homes
   

As always feel free to call me with any questions on Quail or Quail Meadows

Tina Carpenter

831.521.0231

The Barnyard

History- the Barnyard is a group old local barns that were put on one property to create a small town shopping center. Over the years there have been some wonderful locally owned shops and restaurants that include The Thurderbird Bookstore, Total Dog, Succulent Gardens, London Bridge Pub and Hudson’s. Most of these stores are no longer in business with the exception of Hudson’s; they have relocated to the Crossroads.

Today-The Barnyard is popular amongst tourists but there are many locals that frequent the shops and restaurants.

Restaurants-

1. Bahama Billy’s-With a great island flavor to thrill your palate. My favorites include their Mango Salad, Killer Meatloaf & the Skirt steak. You will love the bread while you are waiting for your food. BB’s also has some great specialty cocktails.

2. Robata’s-My favorite Japanese restaurant. It can be a bit cold in the winter but in the summer and fall eating on the patio is great. They have a very reasonable lunch menu that will fill you up. Some of my favorite sushi is their spider rolls, shiitake nut rolls and the Carmel Roll.

3. From Scratch-This restaurant has been around for a long time. It has a nice covered patio that you are more than welcome to bring your dog to. Local artwork is abundant on the walls and is for sale. In the winter time they have fabulous soups; the tomato basil is to die for. They do have wonderful breakfast specials as well; try the yummy French toast.

Shops-

1. Heidi’s-Great work shoes and now they have fun women’s shoe too. The staff is very knowledgeable and the owners are warm and inviting. If you see a sale sign you better hurry and run in before they are all gone.

2. Michael Sherman Jewelers’-Talk about beautiful one of a kind jewelry this is it. Everything is handcrafted and is the upmost quality.

3. Khaki’s-This upscale store is it when searching for men’s clothing. They carry only the world’s finest designers. Stop by and enjoy outstanding customer service.

Make sure that on your next visit that you have an empty stomach and a wallet full of cash to enjoy the shopping. You will be happy you did!

for more information on local places to visit go to Carmel, Ca Homes for Sale.

To predict the future we must first look to the past.

There were a total of Forty-three units that sold in Monterey in 2009.

• $165,000-$250,000 = 12
• $300,000-$400,000 = 13
• $400,000-$500,000 = 6
• $500,000-$600,000 = 8
• $600,000-$800,000 = 4

As you can see the lower-end dominated the 2009 market place.

Currently there are 30 units on the market and 9 units in escrow.

• $60,000-$250,000 = 11 Active 3 pending
• $250,000-$400,000 = 14 Active 5 pending
• $400,000-$500,000 = 3 Active
• $500,000-$600,000 = 8 Active 1 pending
• $600,000-$700,000 = 2 Active
• Over 2 Millon = 1 Active

So what do these numbers show us.....the lower-end is still driving the market place. As the low-end's inventory slips away we will start seeing the middle range move more. I think the upper-end is going to take a while to start moving; possibly the end of 2010 but it may not really start moving until 2011.

I can't really predict the future (if only I had a crystal ball) but I do think that the market is steady and will remain stready in 2010.

Mountain Shadow Townhomes are located in Monterey's Skyline Forest a beautifully wooded area with ocean views. These twenty townhomes were built in 1973 by Henry Edwards on approximately 3.3 acres. Ten units were initially sold as "A" units at 1,950 sq. ft and ten units were sold as "B" units and are 1,650 sq. ft.; although many units have made some interior changes that have given them additional square footage. Additionally, each unit has a large two car garage.

Dues include water, garbage, sewer, storm drains, insurance, ground maintenance, street lights, minor maintenance for the private road and major project reserves. Roofs, siding and deck repairs are the responsibility of each individual property owners.

For the only unit currently on the market go to Mountain Shadow.