Young family & possible relo to Monterey from a lower COL state (Long Beach: real estate, apartments)

[AZJD]

My wife and I are exploring leaving Phoenix, AZ to move to Monterey. Both of us are degree'd, salaried people, are homeowners, and have 2 young children under 5 years old. Both of us are eyeing a few companies specific to the Monterey area and their offices are on the peninsula near the coast. We absolutely love the area and think it's beyond beautiful. It retains the small town charm we grew up on in other states, but yet is still close to bigger cities.

We get it that California is expensive, and you "rent the weather, rent the lifestyle, etc". We are willing to give up a bit to have that.

Perhaps the hardest thing for us (well...for me....) is to know that likely we would never be able to afford a decent home ever again. We own a nice upgraded $400K house in Phoenix....but that same house in Pacific Grove would easily cost like 2 million. There's no way to afford a similar home unless you pay cash, or have a $250K+ salary to qualify to buy. We are somewhat spoiled in AZ....in the fact that we also have great weather year-round, housing and taxes are dirt cheap, and California is literally a 1-2 hour flight away. But it's not CA......

Looking at rentals in that area, it's pretty upsetting. For $2500-$3000/month, all you find are older homes that have zero upgrades and are basically in original, dated and somewhat gross condition. An apartment or townhome is not something we are willing to do, especially since we have two children.

For those of you that live in more affordable areas like Seaside and Marina, do you see it getting any better? What about those new-er builds down Reservation Road (Garrison?) past Marina? Any decent?

We are worried about schools, as Zillow ratings are very low on the 1-10 scale. The good ones are in PG and CV, but again....doesn't seem affordable unless you are making a huge salary.

Talk us into/through this.

[MtnSurfer]

Hi,

There is a lot to consider weighing all the pros/cons carefully. If you move here you will be living in a resort area with resort prices. I think the overall decision boils downs to this: basically your love for the area has to outweigh your love for owning a big, nice home. Ours does as we gladly sold our large, newer, upgraded home in Colorado to live on the coast with our three children here. We rent and do not own. It's a trade off for sure. The higher cost of admission keeps many away. That's just the way it is. The big difference for us is that we grew up on the coast and really love it, more than the big house. Quality of life is so higher here for us now than when we lived in CO. But that doesn't mean it will for your family. It really depends on the family and what things they enjoy most.

Derek

[MtnSurfer]

Regarding housing more development will continue I think. The county just approved a huge new development off of Hwy 68 near Toro Park. Monterey County supervisors approve Ferrini Ranch development | Monterey News - KSBW Home

If we were looking to buy, which we aren't right now, I would be considering that area. There are some good public schools up through middle school including Toro Park Elementary, San Benancio Middle School, etc... The only downside for now is that Salinas High is the only 'public' option for folks in those nicer communities. Consequently many families opt for private school or homeschool. We homeschool our kids. So school districts aren't as big a deal. For those set of public school the best school districts are important. Carmel is out of reach for most to 'own' in. So some chose to move there and rent while kids are school age. PG is a good option through High School as well.

Derek

[Piepkorn]

I live in Marina and really love it here. Came from Long Beach 2.5 years ago and haven't looked back. The houses in Seaside were a little too small for us. I wanted to live in the Prunedale area, but my wife wanted to be close to the ocean. I really don't like the East Garrison project, the houses are overpriced and there is a pretty steep homeowners association fee. They are involved in environmental issues involving some salamander.

The two big issues in the Monterey bay area are 'environmental' and the lack of water. The environmentalists want no development and will find any reason to block try and block it. The highway 68 Toro Park project will still be floating in court when your kids graduate college. Yes - it is a beautiful area, but there was an article recently regarding the cost of bringing in water and electric....very expensive. I don't see much change in the area due to the environmental issues, but it keeps the housing market high.

Here is a link that my real estate person put together for us when we moved here...showing the available homes 3 or more bedrooms in this area: http://matrix.mlslistings.com/DAE.asp?ID=0-93613428-10 There are a lot of homes in Monterey that don't need updating.

My wife will post more on this later.....she is very opinionated

[Piepkorn]

I am the "wife". From a newby perspective- make sure you have a job (if you need to work) before you start worrying about finding a house and schools. This area is not a place you want to start off "settling for less than" because. Your education will be a good fit. I have never met so many PHd's in my life! Monterey County is also a huge military community-kinda like the United Nations. Might be better to think of this area as a "Port O Call" rather than small town. It is very business like. The holiday activities in Carmel, Monterey, Marina, etc., are very "small town" and quaint. Differences between here and L.A and Arizona- There are seasons. Mild seasons, but seasons. You will live on sand. You will need boots, sweaters and you will need to layer. You will get used to it, I promise. Many people rent their homes. There are no houses built on the beach. The beach is less than 10 minutes from our house. I pay my water bill at the beach. Carmel and Monterey are less than 20 minutes away. The terrain is hilly. Most houses are on culdesacs. In a lot of areas and apartments are amongst the houses.When looking for a house I would suggest a newer house (2000+ or renovated), large windows to let in lots of light, sunrise and or sunset views, an entry way for your shoes (it is sandy and muddy outside), forced air heating(no need for air conditioning), inside laundry- gets cold, double garage, backyard goes through to the street of the culdesac, get used to the idea of no landscaping or rocks(you can landscape after you buy the house). Also envision down slope and up slope garages and yards- your new home will have one at least one of these- slight to extreme. The schools here are no better than in SoCal. But they are schools and as parents you are responsible for your child becoming the best. Please never depend on the schools. I have taught in Montessori schools, inner city and juvenile court schools.

[AZJD]

Thanks for all the great replies, keep them coming!

In regards to real estate, is it difficult for a "regular" buyer to get a home? Or are there issues with any moderately priced home (say, under $500K) to be bought up quickly by investors who will turn them into rentals?

I remember back in 2011 when housing hit rock bottom in AZ (and prices fell to levels that were too low), pretty much every home under $200K was scooped up cash by Wall Street investment groups. Regular buyers couldn't even compete. I've heard similar stories about Bay Area housing.


What about some of the more rural areas like Prunedale? What are your thoughts out there?

[Hawk J]

Originally Posted by Piepkorn

I live in Marina and really love it here. Came from Long Beach 2.5 years ago and haven't looked back. The houses in Seaside were a little too small for us. I wanted to live in the Prunedale area, but my wife wanted to be close to the ocean. I really don't like the East Garrison project, the houses are overpriced and there is a pretty steep homeowners association fee. They are involved in environmental issues involving some salamander.

The two big issues in the Monterey bay area are 'environmental' and the lack of water. The environmentalists want no development and will find any reason to block try and block it. The highway 68 Toro Park project will still be floating in court when your kids graduate college. Yes - it is a beautiful area, but there was an article recently regarding the cost of bringing in water and electric....very expensive. I don't see much change in the area due to the environmental issues, but it keeps the housing market high.

Here is a link that my real estate person put together for us when we moved here...showing the available homes 3 or more bedrooms in this area: http://matrix.mlslistings.com/DAE.asp?ID=0-93613428-10 There are a lot of homes in Monterey that don't need updating.

My wife will post more on this later.....she is very opinionated

http://matrix.mlslistings.com/DAE.asp?ID=0-93613428-10

[Hawk J]

Originally Posted by AZJD

Thanks for all the great replies, keep them coming!

In regards to real estate, is it difficult for a "regular" buyer to get a home? Or are there issues with any moderately priced home (say, under $500K) to be bought up quickly by investors who will turn them into rentals?

I remember back in 2011 when housing hit rock bottom in AZ (and prices fell to levels that were too low), pretty much every home under $200K was scooped up cash by Wall Street investment groups. Regular buyers couldn't even compete. I've heard similar stories about Bay Area housing.


What about some of the more rural areas like Prunedale? What are your thoughts out there?

One of my brothers has happily lived in Prunedale about 25 years. He loves living there. ...He has taught school in Marina, Fort Ord, & Seaside.

It all started with Dad getting orders stationed at Fort Ord. We moved into a home in Stilwell Park, Fort Ord. Some years later dad passed on from a heart attack.

Mom loved happily living in Marina, for many years. She always liked the cooler weather/cloudy days.
Often I did work for her outside mostly, around her property. So, I know there were frequent warm/hot days during the years......Many times there were partly sunny days.

Mom lived way toward the end of Reindollar, close to the Fort Ord boundary fence.

Back in 2004, my brother in -law enjoyed living in a townhouse on Fort Ord, across Reservation Road from Fritzsche Airfield (rental). The farther up Reservation Road you are, the warmer, sunnier, it is.

Back in the day, we used to go fishing in some ponds we found out in East Garrison. We explored a lot of the back roads in Ft Ord. Spent a lot of time going to races at Laguna Seca...

For some time I lived in Carmel Valley. For some time we lived in Prunedale. Quite a while we lived outside of Bolsa Knolls, a piece.

Best of Luck to you finding your place.

[MtnSurfer]

Originally Posted by AZJD

Thanks for all the great replies, keep them coming!

In regards to real estate, is it difficult for a "regular" buyer to get a home? Or are there issues with any moderately priced home (say, under $500K) to be bought up quickly by investors who will turn them into rentals?

I remember back in 2011 when housing hit rock bottom in AZ (and prices fell to levels that were too low), pretty much every home under $200K was scooped up cash by Wall Street investment groups. Regular buyers couldn't even compete. I've heard similar stories about Bay Area housing.


What about some of the more rural areas like Prunedale? What are your thoughts out there?

No, I don't think that is happening now for the moderately priced homes. Although like AZ, after the bottom dropped out here, I heard there was a bit of a buying frenzy with multiple offers going out, etc... Though things have cooled substantially as prices have risen in these areas. There just isn't the same demand among the non-wealthy to snag up these homes in places like Marina, Seaside, Salinas, etc... People who bought during that time have some decent equity now with the rise in prices.

If you are willing to accept a school district that is not tops in the area like Carmel, PG and Toro Park demand will not be as great. Though they are still selling of course.

Here are a few decent ones to take a look at (Las Palmas and Toro Park). The better ones will go quicker like anywhere. As mentioned these school districts are good through middle school. So demand is higher.

http://www.realtor.com/realestateand...21-67953?row=1

http://www.realtor.com/realestateand...48-40206?row=1

http://www.realtor.com/realestateand...53-07506?row=1

Anywhere along Hwy 68 or River Road is decent to high end. Keep in mind while the address may 'say' Salinas it is not the city of Salinas which makes a big difference, especially in some of those more exclusive areas between Salinas and Monterey in the hills along 68.

Derek

[MtnSurfer]

For public schools take a look at this map which gives you a pretty good idea of the lay of the land. Zoom into the area in question:

California School Performance Maps