More review of the 101 SFR sales between June 1st and August 17, 2010, in 92130. 

These are from the tax rolls, and include new-home sales, FSBOs, and deals not on the MLS:

1. There were 28 of the 101 that sold for less than they paid, at an average drop of 12%.
2. Five of the 28 sold for a loss of at least 20% or greater. (73 sold for more than they paid)
3. There were nine new Pardee homes sold, between $764,000 and $805,000 (only one on MLS).
4. There were 92 sales on the MLS, plus the one dirty deal on Winstanley.
5. There were 8 short sales, 2 REO listings sold, and one flipper – Adam!

Here’s how the buyers financed their purchases:

Down Payment # of
Zero 1 (this was a no-down doctor loan)
3.5% FHA 4
5% 1
10% 4
20% 23
25% 10
30-40% 19
41-50% 19
51-75% 12
100% all-cash 8

Over 90% invested at least 20% down, and 58% used a down payment of at least 30%. 

For those homebuyers looking to purchase in an area that has a lower threat of foreclosures in the future, Carmel Valley is about as safe as it gets – at least on the surface.  These buyers must have felt pretty comfortable with their personal financial situation to invest as much as they did, and it’s been the trend that we have seen lately in the CV!

Pin It on Pinterest