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Residential Market Update for Salinas

Here is Pacific Appraisers Real Estate Market Update for the Salinas residential market:

19 active listings under $250k
121 active listings between $250k- $500K
47 active listings between $500-$750K
20 active listings between $750k-$1,000,000
16 active listings over $1 million

The Salinas market is very active in the $250,000 to $500,000 range. The number of homes for sale under $250,000 is about the same as the number of homes for sale between $750,000 to $1 million. The median home value for Salinas rose 21.38% from August of 2013 to August of 2014. The current median home value is $352,000.

In summary, the overall single family market has been strong over the last 12 months and the Salinas market is not showing any signs of slowing. It will be interesting to see what happens over the next several month. If you have any questions, please feel free to call us anytime at (831)607-3800.

2014 Annual Fall Conference: Real Estate and Appraisal Symposium

Pacific Appraisers’ Ryan Whitelaw MAI and Karen Park MAI will be attending the Appraisal Institute annual fall conference in San Francisco. See below for more details:

Location: Marriott Marquis, San Francisco
Plan now to join us for the Northern California Chapter’s original award-winning signature conference. Proudly celebrating 64 years!

16 Breakout Sessions include:

Units of Comparison and Sale Price Adjustments for Small Residential Income Property
Marketing, Scaling, Non-Lender Work & Changing the Way You Do Business
The Price is Right: Cost of Entitlements
California Water: From the Sky to Ownership
Appraiser DNA: Hiring & Employee Development
Compliance: Learn it. Live it. Love it.
Complex Valuation Issues in Ad Valorem (and many other) Appraisals
Going Concerns: Mind Your Business (and Equipment)
Green Building 2014: Risks and Opportunities
Data Trends and Data Science: Statistical Methods and Analysis
Carbon, Climate and California Policy
The Appraisal of Contaminated Real Estate
Residential Market Update
Retail Market Update
Real Estate Capital Markets Outlook
Mobile Technology

Click here for more information.

Commercial/Multifamily Mortgage Debt Outstanding Posts Largest Increase Since 2008-MBA

WASHINGTON, D.C. (December 12, 2013) — According to a new report from the Mortgage Bankers Association (MBA), the level of commercial/multifamily mortgage debt outstanding increased by $25.2 billion in the third quarter of 2013, as all four major investor groups increased their holdings.  That is a 1.0 percent increase over the second quarter of 2013. Click here to read more: http://www.mortgagebankers.org/NewsandMedia/PressCenter/86536.htm

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