Monterey

Interesting statistics from California Assn. of Realtors

Investor's Paradise?
Demand for rentals continue and supplies are short

 ........ a recent WSJ report shows that rental rates were up in 74 of 82 the regions analyzed by REIS, Inc.  The Monterey peninsula is not much different.  With our typical shortage of inventory (and no prospects for increased inventory any time soon), and a strong rental market the savy investor can do quite well.  One caveat; we cannot typically charge the rental rates that one sees in the larger metropolitan areas due to a tenant pool of lower wage earners, students and short term military stationment.  However, with the right amenities and location a landlord can maintain a high occupancy rate and a good rate of return.

Carmel Valley Single Family Residential.  The days to sell is similar to last year and at about 3 months which is quite respectable.  Thesale to list price is increasing which may be a sign that things are normalizing in Carmel Valley.  

Great evening for practice surfing - Carmel Beach @ 13th.