39 out of 88 active listings in Carmel Valley for attached are being sold underwater.

[Coronita]

So i knew that the attached home market in carmel valley was doing  bad. But I didn't think it was doing that bad already.

So I pondered through 88 MLS listings in carmel valley that are currently active for attached homes (not single family homes).

It appears that 39/88 of these listings are being sold with an asking price below what people paid for them.

Here's some interesting stats. 

Out of 88 attached homes,

*40 of them are actively listed above previous sold prices.

*9 of them are condo-converts that have no sales history.

*The remaining 39 of then are being listed below previous sold prices, even using the upper limit of a price range.  

This doesn't include a quite of bit of homes that I counted being listed "above water", but only by a few thousand, which given any loan balance would probably mean those are also underwater. I might have missed a couple of attached homes, but it seems the sheer volume of underwater homes is pretty evident.

 

Here's what I compiled off of public information available. Sorry, haven't figured out how to attach spreedsheets to this blog. The format is in CSV that you can import into excel.

The first column marks an X for homes currently listed with "above water pricing". The remaining columns are: last sale date, last sale price, current asking price , address, bed/bath.

Again, let me emphasize this is all information available in public, and it was pretty easy to compile.

 

If this isn't an indication of things to come, I don't know what is….Enjoy the data

 

Above Water,MLS#,Last Sale Date,Last Sale Price,Asking price,Address,Bed/bath
 ,86001756,9/16/2005,"$340,900 ",269000,3825 Elijah Ct #323,1bd/1bath
 x,76096971,10/8/1998,"$117,000 ",275000,Caminito El Rincon #314,1bd/1bath
 ,76072972,4/14/2005,"$349,900 ",265000,3855 Elijah Ct #713,1bd/1bath
 x,71065641,1/30/2002,"$190,000 ",295000,12269 Carmel Vista Rd #166,1bd/1bath
 x,76079443,8/1/2003,"$255,000 ",298000,3609 Bernwood Pl #88,1bd/1bath
 x,71095000,6/2/2004,"$287,900 ",299000,12570 Carmel Creek Rd #80,1bd/1bath
 x,86001724,3/26/2004,"$274,900 ",299900,12530 Carmel Creek Rd #138,1bd/1bath
 ,81008584,7/22/2004,"$417,900 ",298000-308000,12588  Carmel Creek Rd #28,1bd/1bath
 ,86015460,7/21/2004,"$384,900 ",310000,12560 Carmel Creek Rd #61,1bd/1bath
 ,86012442,7/21/2004,"$421,900 ",285000-315000,12550 Carmel Creek Rd #93,1bd/1bath
 ,76087156,6/5/2006,"$337,485 ",319000,3887 Pell Pl #420,1bd/1bath
 ,86004205,3/2/2004,"$367,000 ",320000,3534 Caminito El Rincon #39,2bd/2bath
 x,81010127,6/6/2006,"$300,153 ",320000,3887 Pell Pl #212,1bd/1bath
 ,81009176,5/30/2006,"$351,321 ",325000,3887 pell place #418,1bd/1bath
 ,86005622,1/18/2005,"$407,900 ",294950-325000,12570 Carmel Creek Rd #83,2bd/2bath
 ,81003091,8/30/2005,"$385,220 ","299000-329,000",3857 Pell Pl #213,1bd/1bath
 ,76068373,7/27/2005,"440,000",329000,3550 Caminito El Rincon #66,2bd/2bath
 ,76092969,6/6/2006,"$460,000 ",310000-330000,12570 Carmel Creek #82,2bd/2bath
 ,86003386,10/28/2005,"$460,000 ",319900-350000,12590 Carmel Creek Rd #3,2bd/2bath
 ,71079376,n/a,n/a,350000,12376 Carmel Country Rd #J203,1bd/1bath
 x,76084257,3/8/2005,"$344,900 ",345000-355000,3860 Elijah Ct #1017,1bd/1bath
 x,86000613,5/30/2006,"$300,233 ",359900,3887 Pell Pl #228,1bd/1bath
 x,71095599,5/5/2000,"$203,000 ",369900,4045 Carmel View Rd #97,2bd/2bath
 x,86005256,8/18/2003,"$335,000 ",370-385000,4029 Carmel View Rd #141,2bd/2bath
 ,86009159,3/29/2007,"$439,000 ",365-385000,12604 Carmel Country Rd #22,2bd/2.5bath
 x,76092470,2/16/1996,"$137,900 ",394000,4165 Via Candidiz #25,2bd/1bath
 ,86001844,5/11/2005,"$510,000 ",394900,13320 Tiverton Rd,2bd/2bath
 ,81003905,4/1/2005,"$464,900 ",397500,3855 Elijah Ct #726,2bd/2bath
 x,86007986,4/30/1990,"$164,000 ",369-399000,4009 Carmel View Rd #173,2bd/2bath
 ,71096779,6/29/2004,"$429,900 ",400000,2570 Carmel Creek Rd #74,2bd/2bath
 ,71073254,6/5/2006,"$403,099 ",400000,3887 Pell Pl #134,2bd/2bath
 ,86016728,3/23/2004,"$427,000 ",410000,12620 Carmel Country Rd #76,2bd/2.5bath
 ,86011124,1/4/2005,"$500,000 ",4199000,12620 Carmel Country Rd #78,2bd/2.5bath
 ,81006378,3/2/2005,"$465,000 ",429000,3577 Caminito Carmel Landing,2bd/2.5bath
 x,71076660,5/9/2003,"$352,000 ",415-435000,3684 Caminito Carmel Landing,2bd/2.5bath
 ,71088331,6/22/2005,"$449,000 ",435000,4009 Carmel View Rd #163,2bd/2bath
 x,71084139,2/12/1998,"$160,000 ",435000,12614 Carmel Country Rd #52,2bd/2.5bath
 x,86004115,9/4/2001,"$275,000 ",415-435000,12620 Carmel Country Rd #74,2bd/2.5bath
 x,86011793,9/25/2000,"$231,000 ",429-449000,12509 Caminito Mira Del Mar,2bd/2.5bath
 ,86004275,12/30/2005,"$510,000 ",450000,3877 Pell Pl #321,2bd/2bath
 x,81002730,3/8/2002,"$300,000 ",450000,4121 Via Candidiz #43,2bd/2.5bath
 x,76048719,6/28/2006,"$454,497 ",468000,3887 Pell Pl #133,2bd/2bath
 ,81005402,3/9/2007,"$485,000 ",469800,3893 Creststone Pl,2bd/2.5bath
 x,81014201,5/18/2006,"$440,393 ",469995,3887 Pell Pl #413,2bd/2bath
 ,71095562,2/2/2006,"$472,723 ",470000,3887 Pell Pl #404,2bd/2bath
 x,86003269,3/5/2004,"$459,000 ",479000,12934 Carmel Creek Rd #71,2bd/2.5bath
 x,81001610,3/24/2003,"$360,000 ",479000,12556 Caminito Mira Del Mar,2bd/2.5bath
 x,71067767,3/18/2004,"$464,145 ",479900,12602 Carmel Country Rd #1,2bd/2.5bath
 ,81014503,9/1/2005,"$506,000 ",479900,12562 Caminito Mira Del Mar,2bd/3bath
 x,76091102,7/28/2006,"$464,185 ",485000,12366 Carmel Country Rd #308,2bd/2bath
 x,76095751,8/31/2006,"$469,900 ",485000,3887 Pell Pl #215,2bd/2bath
 ,86007634,n/a,,460-485000,12374 Carmel Country Rd #H202,2bd/2bath
 ,82013386,n/a,,475-489000,3748 Mykonos Ln #114,2bd/2.5bath
 x,81013659,5/23/2003,"$410,500 ",489900,3828 Creststone Pl,2bd/2.5bath
 ,71084056,12/13/2004,"$540,000 ",490000,12271 Caminito Mira Del Mar,3bd/2.5bath
 ,86001176,5/19/2004,"$562,500 ",490000,3741 Carmel View Rd #4,2bd/2.5bath
 x,86013042,11/7/1989,"$199,500 ",495000,3694 Caminito Cielo Del Mar,2bd/2.5bath
 x,78034159,8/25/1994,"$168,000 ",485-495000,13286 Kibbings Rd,2bd/2.5bath
 x,86002907,9/4/2003,"$432,000 ",495000,3746 Caminito Cielo Del Mar,3bd/2.5bath
 ,86004042,n/a,,499000,12366 Carmel Country Rd #I307,2bd/2.5bath
 ,86015815,n/a,,499900,3802 Mykonos Ln #22,2bd/2.5bath
 ,78087717,7/6/2006,"$527,500 ",480-500000,13477 Tiverton Rd,3bd/2.5bath
 x,71093658,1/20/2004,"$495,000 ",510000,12553 El Camino Real #B,2bd/2.5bath
 x,71093837,6/7/2001,"$309,650 ",510000,12607 El Camino Real #B,2bd/2.5bath
 x,81001906,5/30/2003,"$420,000 ",489900-515000,3618 Ruette De Ville,2bd/2.5bath
 x,86004609,3/20/2003,"$395,000 ",520000,13392 Tiverton Rd,3bd/2.5bath
 x,81014242,1/27/1989,"$204,000 ",529000,3690 Caminito Cielo Del Mar,3bd/3bath
 x,81013209,8/8/2003,"$435,000 ",529000,3715 Ruette De Ville,2bd/2.5bath
 ,76092483,4/26/2004,"$574,900 ",539000,13403 Tiverton Rd,2bd/2.5bath
 x,76092544,4/28/2006,"$516,718 ",549000,3887 Pell Pl #306,2bd/2bath
 ,86008041,n/a,,529-549000,3722 Mykonos Ln #150,2bd/2.5bath
 x,76078478,1/7/1994,"$199,500 ",550000,3755 Ruette De Ville,3bd/2.5bath
 ,76095252,9/29/2005,"$558,150 ",500-550876,3857 Pell Pl #302,2bd/2bath
 ,74087077,n/a,,564899,12370 Carmel Country Rd #E202,2bd/2bath
 ,81000497,12/8/2005,"$586,413 ",565000,13030 Lamia Pt,3/2.5
 ,81015862,9/24/2004,"$580,000 ",537-567000,13577 Tiverton,3/2.5
 ,71090574,2/17/2006,"$581,000 ",568000,13504 Jadestone Way,3/2.5
 ,81007511,n/a,,499-569000,12360 Carmel Country Rd #B101,3bd/2bath
 ,76094192,4/1/2005,"$605,000 ",519-569000,12948 Carmel Creek Rd #106,3/2.5
 x,71020793,12/20/2005,"$568,900 ",569000,13038 Cadencia,3/2.5
 ,86006356,5/30/2006,"$599,900 ",570000,6126 Mystra Pt,3/2.5
 x,76085730,12/30/2005,"$570,000 ",578000,3634 Ruette De Ville,3/2.5
 x,86013856,9/5/2007,"$541,000 ",589000,6132 Mystra Pt,3/2.5
 ,76092627,n/a,,590000,12374 Carmel Country Rd #H307,2bd/2bath
 ,71073650,11/22/2004,"$669,000 ",619000,3798 Fallon Cir,3/2.5
 ,81005752,3/1/2006,"$670,000 ",624900,12731 Via Terceto,3/2.5
 x,86015662,11/12/2004,"$610,000 ",649500,13620 Jadestone Way,3/2.5
 ,71089064,8/26/2005,"$630,000 ",659000,12933 Candela Pl,3/2.5
 

 

 

 

 

 

[Coronita]

Grr. Sorry about that text being jumbled. IF someone can suggest a way to upload a spreedsheet, I'll repost the listings. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Grr. Sorry about that text being jumbled. IF someone can suggest a way to upload a spreedsheet, I'll repost the listings. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Grr. Sorry about that text being jumbled. IF someone can suggest a way to upload a spreedsheet, I'll repost the listings. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Grr. Sorry about that text being jumbled. IF someone can suggest a way to upload a spreedsheet, I'll repost the listings. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

Grr. Sorry about that text being jumbled. IF someone can suggest a way to upload a spreedsheet, I'll repost the listings. 

[img_assist|nid=5962|title=selfportrait|desc=|link=node|align=left|width=100|height=80]

—– Sour grapes for everyone!

[Coronita]

[img_assist|nid=6742|title=ss1.jpg|desc=|link=node|align=left|width=464|height=500][img_assist|nid=6743|title=ss2.jpg|desc=|link=node|align=left|width=466|height=451]

[Coronita]

[img_assist|nid=6742|title=ss1.jpg|desc=|link=node|align=left|width=464|height=500][img_assist|nid=6743|title=ss2.jpg|desc=|link=node|align=left|width=466|height=451]

[Coronita]

[img_assist|nid=6742|title=ss1.jpg|desc=|link=node|align=left|width=464|height=500][img_assist|nid=6743|title=ss2.jpg|desc=|link=node|align=left|width=466|height=451]

[Coronita]

[img_assist|nid=6742|title=ss1.jpg|desc=|link=node|align=left|width=464|height=500][img_assist|nid=6743|title=ss2.jpg|desc=|link=node|align=left|width=466|height=451]

[Coronita]

[img_assist|nid=6742|title=ss1.jpg|desc=|link=node|align=left|width=464|height=500][img_assist|nid=6743|title=ss2.jpg|desc=|link=node|align=left|width=466|height=451]

[Coronita]

I should also add, that if you take a look at the above jpgs, it's evident that a good portion of the underwater folks are some notable attached communities" Pell Place, Carmel Pointe, and the "name-escapes me" complex off of Carmel Country Rd which i believe was also a condo convert.

If the above info doesn't scare you off from looking in the attached home market in CV, you might want to consider avoiding those communities with a high # of sellers underwater , as most likely your HOA dues are going to go up significantly in the future imho if these folks end up defaulting and getting foreclosed, making it relatively more expensive than other communities with lesser hoas, which would only seem to logically cause the value of those communities to fall even lower, which inevitability will make those communities even less attractive.

There''s probably a more room for negotiation with the handful of sellers that purchased at the really low prices back 10+years, albeit you're stuck with an older community. Examples such as #38,39,40.

 

And yes, there are a small handful (roughly 3-4) listings that purchased in 2006 and even as late as 2007 and appear to be attempting to flip.

 

[Coronita]

I should also add, that if you take a look at the above jpgs, it's evident that a good portion of the underwater folks are some notable attached communities" Pell Place, Carmel Pointe, and the "name-escapes me" complex off of Carmel Country Rd which i believe was also a condo convert.

If the above info doesn't scare you off from looking in the attached home market in CV, you might want to consider avoiding those communities with a high # of sellers underwater , as most likely your HOA dues are going to go up significantly in the future imho if these folks end up defaulting and getting foreclosed, making it relatively more expensive than other communities with lesser hoas, which would only seem to logically cause the value of those communities to fall even lower, which inevitability will make those communities even less attractive.

There''s probably a more room for negotiation with the handful of sellers that purchased at the really low prices back 10+years, albeit you're stuck with an older community. Examples such as #38,39,40.

 

And yes, there are a small handful (roughly 3-4) listings that purchased in 2006 and even as late as 2007 and appear to be attempting to flip.

 

[Coronita]

I should also add, that if you take a look at the above jpgs, it's evident that a good portion of the underwater folks are some notable attached communities" Pell Place, Carmel Pointe, and the "name-escapes me" complex off of Carmel Country Rd which i believe was also a condo convert.

If the above info doesn't scare you off from looking in the attached home market in CV, you might want to consider avoiding those communities with a high # of sellers underwater , as most likely your HOA dues are going to go up significantly in the future imho if these folks end up defaulting and getting foreclosed, making it relatively more expensive than other communities with lesser hoas, which would only seem to logically cause the value of those communities to fall even lower, which inevitability will make those communities even less attractive.

There''s probably a more room for negotiation with the handful of sellers that purchased at the really low prices back 10+years, albeit you're stuck with an older community. Examples such as #38,39,40.

 

And yes, there are a small handful (roughly 3-4) listings that purchased in 2006 and even as late as 2007 and appear to be attempting to flip.

 

[Coronita]

I should also add, that if you take a look at the above jpgs, it's evident that a good portion of the underwater folks are some notable attached communities" Pell Place, Carmel Pointe, and the "name-escapes me" complex off of Carmel Country Rd which i believe was also a condo convert.

If the above info doesn't scare you off from looking in the attached home market in CV, you might want to consider avoiding those communities with a high # of sellers underwater , as most likely your HOA dues are going to go up significantly in the future imho if these folks end up defaulting and getting foreclosed, making it relatively more expensive than other communities with lesser hoas, which would only seem to logically cause the value of those communities to fall even lower, which inevitability will make those communities even less attractive.

There''s probably a more room for negotiation with the handful of sellers that purchased at the really low prices back 10+years, albeit you're stuck with an older community. Examples such as #38,39,40.

 

And yes, there are a small handful (roughly 3-4) listings that purchased in 2006 and even as late as 2007 and appear to be attempting to flip.

 

[Author]

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