For all the news we hear about this poor time in the real estate market, our Monterey area Coldwell Banker offices have been certainly busy the first months of this year. It’s a challenging market, yes, with all the tricky nuances of the short sales, particularly when we sometimes just can’t understand why the lender/investor will not sell a property at the true market value and the escrow cancels. Nevertheless, we are getting about half of the short sales to close, albeit after many months of dealing with the lender, and we are putting many “regular”—non-troubled—properties into escrow, too. Along the Monterey Peninsula, we are seeing buyers coming in from other areas who have wanted to own here for years thinking that they can now buy here, what with the lower prices and reasonable mortgage rates.
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Coldwell Banker Del Monte Realty
501 Lighthouse Ave
Pacific Grove, Ca