What do people in Monterey/Carmel do for living (Sacramento: oceanfront, apartment)

[HappyinCali]

Originally Posted by capoeira

The situation has changed dramatically in Pacifica in the last two years. There is almost zero available housing inventory and prices have skyrocketed. Redfin has only 21 homes for sale in Pacifica. Here is one of the few homes listed for sale in Pacifica. 800k for a less than prime location all the way in the back of the Vallemar area.

Pacifica seems to have home prices higher than the Monterey area.

That is not too surprising. While crappier, Pacifica is much better located to job centers, such as SF and SJ, so it would make sense that prices there are higher.

[gizmo980]

Originally Posted by capoeira

The situation has changed dramatically in Pacifica in the last two years. There is almost zero available housing inventory and prices have skyrocketed. Redfin has only 21 homes for sale in Pacifica. Here is one of the few homes listed for sale in Pacifica. 800k for a less than prime location all the way in the back of the Vallemar area.

Pacifica seems to have home prices higher than the Monterey area.

Well, I'd expect that prices are higher than in Monterey - given the location being so close to San Francisco (and not that far from San Jose/SV). I was just saying that in the town itself, or any beachside town, the difference between "with a view" and without isn't necessarily that dramatic. I was practically ON the beach, and our units didn't go for much more than ones on the other side of Esplanade.

[roadwarrior101]

I grew up down there. Overall, there isn't a lot of ways to make much money, but let's look at this overall:

-Professionals - Lawyers, Doctors, Accountants, etc. You can make a pretty good income by owning your own practice.
-Agri-business - Lots of money here, but you usually have to be part of an agricultural family to be at the top. Otherwise, you can make a decent living as a mid-level professional, but probably not enough to live a wealthy lifestyle
-Government - Teachers, Policemen, Firemen, City Councilmembers, etc. Again, you can live decently, but probably aren't going to get rich. May need to look to live somewhere like Seaside, Marina or Salinas
-Small Business Owners - If you own a restaurant, shop or other tourist related business, you can do pretty well.
-Remote Workers - I know some people in high tech who were able to get a job with a Silicon Valley company and work remotely from Monterey. They essentially got their cake and ate it too.
-Old Money - Lots of wealthy families in the Carmel/Pebble Beach area. Some are retired tech execs from the Bay Area, some are Hollywood moviestars who relocated (e.g., Clint Eastwood), some are just families that moved out from other parts of the country with lots of money (generally retirees)

So, it is possible to make money here, but its a challenge. If you're not connected to a wealthy local family or come there as a retiree, its a tough place to get ahead, given the limited opportunities and high cost of living.

[ryanst530]

What do people in Monterey/Carmel do for living

Check their bank accounts every now and then for the dividend and interest income payments.

[mlb]

I recall - years ago back in the mid 1980's a friend and I who lived in San Francisco would spend time in Monterey - the Jazz Festival and seeing the sites.

Friend who was a native San Franciscan attended community college in Monterey before transferring to USF in the city... She talked a lot about wanting to live in Monterey but couldn't figure out how to afford it.

She's a PA now so she can afford it.... but needs to live nearer to San Francisco as there is where the business is.

My spouse (an LA native) and I (a midwesterner) are looking for property - either to build on or buy in Northern Monterey county. It IS cheaper than living closer to San Jose or San Francisco... and gives you a semi-rural feeling... We do not want to live in the middle of a big city. You still get that great weather and access to other cities (Gilroy, Monterey, etc.) isn't all that far away.

I suppose 10-15 years from now all that area will be built up as well. We're going to try and find our piece of paradise before the rest of the world discovers it.

[Lauracore]

Nothing. They do absolutely nothing. The working class people of Monterey County are being driven out by 1) tech workers from Silicon Valley who can afford to commute 4 hrs (with horrible traffic) per day and 2) east coast retirees who come here to do nothing but sit around and talk about how much they have it easy. I was born and raised here and it's seriously the worst unless you have money. Period. Looking to get out of state for good, but find all of the posts about the area highly amusing. It's a disgusting trap if you can (barely) afford to rent a place but can't afford to get out as is my situation.

[StayingAfterSunday]

Originally Posted by Lauracore

Nothing. They do absolutely nothing. The working class people of Monterey County are being driven out by 1) tech workers from Silicon Valley who can afford to commute 4 hrs (with horrible traffic) per day and 2) east coast retirees who come here to do nothing but sit around and talk about how much they have it easy. I was born and raised here and it's seriously the worst unless you have money. Period. Looking to get out of state for good, but find all of the posts about the area highly amusing. It's a disgusting trap if you can (barely) afford to rent a place but can't afford to get out as is my situation.

I empathize with this so much!

If I could afford something in that area, though, I'd be looking at those little (Hugh) Comstock storybook cottages in Monterey-by-the-sea.

[MtnSurfer]

I know two couples who just bought homes recently. They are working middle class folks, definitely not rich nor the stereotypes people think of. However, they bought older homes in areas which some would not want to live in like Salinas, Marina and Seaside. We actually could afford to buy something in these areas as well and we're not rich by any stretch of the imagination. I just don't see real estate as a good value here right now. The homes are over valued in my opinion. Now that prices have shot up renting is the only thing that makes sense for us here.

CA does have more affordable areas, quite a few actually. Though they are not Monterey. And therein lies the dilemma for those who love living here.

We've actually looked at homes in other parts of CA we like such as Auburn outside of Sacramento. I was just talking to two guys at work who moved to Tracy and Brentwood. They telecommute for more affordability.

All that being said, if you really love the area and can't afford to buy its still a very nice place to live. I'll never regret our time spent here. Its been one of the best times of our lives. In fact, we were just out paddling on the beautiful Carmel River today soaking it all in.







Derek

[BlackberryMerlot]

When I was a toddler I lived in Carmel Heights and my father worked as a Navy fighter pilot.

[mlb]

I don't think homes are overvalued here at all.

I think this area is the next boom area - for telecommuters to Bay Area jobs.

If it isn't already.

We've been looking - haphazardly - for 4-5 years for land and also homes for when we retire. We'll either build our own small home or renovate something older.

I think this area is way more desirable than the Sacto area.