anyone from (or familiar with) monterey county? (1 Viewer)

[Ted Lee]

hi all -

due to some possible business ventures i'm working on, it looks like i may have the opportunity to move near carmel, california. i've always to live by the ocean again (like when i was in LA), so i'm totally stoked.

however, i know almost nothing about the place .... other then it's really nice there. now, i already know there is *no way* i can live directly in carmel or anywhere super-close to the beach. but, i think i can afford some outlying areas. wifey heard that a town called "pacific grove" is pretty nice (aka affordable), but that's about it. we've also heard about "seaside", but it appears less attractive.

our target price for the house is around 750k (i know ... don't laugh) ... i would say that is an upper-limit ... but if the business works out maybe a touch more.

anyway, if anyone has any suggestions, or good links ... it would be most appreciated!

thanks,

ted

 

[Dennis Nicholls]

:p)


Ted,

With the closure of Fort Ord about 10 years ago, property values in the FO area (e.g. Marina, Sand City) were temporarily depressed. If I didn't need the money for law school I would have bought some rental property down there - it's a classic beach area and can only go up in price. Cal State Monterey Bay moved into part of Fort Ord so the old cheap rental housing for soldiers is now being rented at inflated prices to students.

Pacific Grove IS the affordable portion of town. You can pick up a fixer-upper for $1 million. MUCH MUCH cheaper than Carmel.

But the time to speculate is long gone. Be advised that nearby Santa Cruz county is the MOST expensive place on average to buy a home in the US. I'm guessing that your $750K isn't going to buy you much anywhere near Carmel. Could you put up with the barrios in Salinas?

There are some "hippie" type places way up Carmel Valley Road. You may get one for your $750K. But I'd hate to commute far up it - it's a dinky, poorly-paved 2 lane road.

Every time I go to Laguna Seca (race course), I see lots of home and condo construction out there. I'm sure that those places may also be "more affordable".

Much of Monterey county is divided sharply between the haves and have-nots. Many communities are peopled with poor Mexican farmworkers (Salinas, Castroville, Watsonville), whereas other communities (Carmel) are peopled by the jet-set Hollywood elite (e.g. Clint Eastwood is the most famous mayor of Carmel). You will really need to spend lots of time there to understand the neighborhoods before plunking down your money.

 

[Ted Lee]

thanks for the good info dennis! you're the first to provide any real-world info ... i will keep those communities you mention in mind when looking around!

thanks again!

 

[Grant B]

Hey Ted, can't take the heat anymore?
I work down in the South Bay and unlike me who get's a reverse commute to the city many people commute to Gilroy and Morgan Hill.....which means they might be a little more affordable.
Gilroy is only about 40 miles; but no idea how bad the commute would be

Anyways good luck where ever you end up.


Funny how when you say that people from other states think you are crazy or a liar

 

[Joe Szott]

I lived in that area for a good 10 years, it is really nice. 10 yrs ago $750k could have gotten you a peach of a home in Pacific Grove, now I doubt it. Of the nice areas though, PG will likely still be the cheapest. Don't bother even looking in Monterey, Carmel, or the areas in between

Your best bet as mentioned is to move a little bit inland, maybe between Monterey and Salinas? I lived in Prunedale off of 101 for a number of years. Total hickville, but housing was cheap and the only real problem was dealing with Blood Alley (101 stretch through Prunedale is one of deadlist roads in CA.)

I would shy away from Gilroy or Morgan Hill. They are a good distance from Carmel to commute and are hotter than all hell in the summer. Cheaper, but there is a reason they are cheaper. Lots of garlic and mushrooms though if you like to eat those.

I would suggest planning on renting a house first and scope the area yourself over time. There are so many factors and microclimates in that area that Monterey/PG, Salinas, Gilroy, and Carmel are all completely different beasts. I wouldn't sink 3/4 of a mil into a house anywhere until I was sure which one of those matched my needs.

So check it out before you commit. PG sounds like the best fit to me, but make that judgement for yourself...

 

[Shane Martin]

I was just recently there and Dennis is right. I looked at housing as I was curious and no way $750k will get you a house near Carmel. Carmel Valley Road? Yes. I saw a few homes in that range. PG homes were over a million.

I loved visiting there but the only knock was a lack of some things I'm used to: Ice Cream place and inexpensive places to eat. Most of the places were pretty steep and upscale type restaurants.

 

[Dennis Nicholls]

So Ted, have we let the air out of your balloon yet?



Prices anywhere near here have always been outrageous ever since the 1970s. For years I watched newcomers where I worked move here simply not believing the price required for a house. Somehow they thought they could "shop around" and find a place at about half the going rate. After a few years renting they would move right back to where they came from.

Heck I'm going to sell my paid-off 1,000 square foot 3/2 for about $650K and move somewhere cheaper. I can get a nicer house for about $250K where I'm going and have a pile of cash to add to my retirement pool.

 

[Ted Lee]

ha! not yet ... i'm still hopeful. i know my budget is on the low-end, but i think achievable. and, like i said, if things work out, maybe i can increase the budget.

also solid idea on renting first ... i think that is what we're gonna do, but we have some other ideas there as well.

it kinda sucks that i just bought our brand-new home in sac, but the more i think about it, the more i like the idea of beinng near the coast. i'm willing to sacrifice the house for locale ... as long as i'm not in criminal-ville.

thanks again guys ... very much appreciated!