Check out the views that you could wake up to every day from this home.
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175 Sonoma Ln., Carmel Highlands, CA
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The Homes in Carmel .com Blog
November 28, 2011
Fabulous views of Point Lobos from this home in Carmel Highlands
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November 24, 2011
Conforming Loan Limits for Home Buyers in Carmel
Monterey County was California’s hardest hit county earlier this year when the conforming loan limit dropped nationwide from the $729,950 limit to a maximum $625,500. For buyers looking to purchase homes in Carmel, the conforming loan limit fell nearly $247,000 to $483,000, according to the California Association of Realtors (CAR).
Congress has now approved a reinstatement of the FHA loan limits to their pre-September 30 levels. This will immediately provide additional mortgage capital to borrowers looking to buy homes in Carmel via FHA financing. The loan limits will revert to 125% of median area home price, with a cap at $729,750. Those higher limits will be in effect until December 31, 2013 at which point they will again revert to 115% of median area home price with a cap at $626,500. The loan limits for Fannie Mae- and Freddie Mac-backed mortgages will remain at 115% of local area median home prices, up to $625,500.
This is by no means a panacea for our local housing market, but could provide a marginal boost to the market in Carmel-by-the-Sea.
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November 13, 2011
Sales of homes up in Carmel-by-the-Sea
Judged by gross dollar volume the real estate market in Carmel-by-the-Sea is looking like it is recovering from a year ago with Q3 2011 gross dollar value of $74,763,800 compared to Q3 2010 value of $44,223,000.
Real Estate sales in Carmel were up from 42 in Q3 2010 to 48 in Q3 2011, suggesting that the market for homes in Carmel-by-the-Sea remains strong. The average sales price was $1,557,000 and the median sales price was $1,212,000 for Q3 2011. The average days on market was 125 and the unsold inventory is still high for Carmel.
The data for this article was compiled from the Monterey Association of Realtors Multiple Listing Service and may not reflect all real estate activity. The Association does not guarantee or is responsible for the accuracy of the above data.
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