Hacienda Carmel prior sales
Hacienda Carmel Prior Sales
How do you spot trends, guess what future appreciation a condo will bring? What will the HOA dues do in the future? Take a look at the past history to make a better guess!
We are looking at three Hacienda Carmel Condos on the market now or in Escrow (under contract). All are one bedroom, one bath units ranging from 668 to 679 sq. ft.
HOA Increases at Hacienda:
I am using units 296 Hacienda, 274 Hacienda and 16 Hacienda. First HOA dues which can be hard to track! One unit sold back in 2003 and dues at that time were $350 per month. Now they are $694. In 13 years the dues on the one bedroom Hacienda units have approximately doubled.
Key Takeaways: Dues have doubled on one bedroom units – in 13 years.
Zestimates are just a guess and could be high or low
Hacienda Carmel Condo Appreciation:
Unit #296 – sold for $77,500 back in 1985 and is now on the market for $355,000. In a little over 30 years it has increased in value 4.5 times or 450%. Unit #16 sold for $95,000 in 1996 and is in escrow with a list price of $395,000. In about 20 yrs. it’s gone up about 4.1 times in value. This unit has been totally remodeled so that would be one reason for the faster increase in value. But some of it can be due to the market at that time period or the motivation or urgency of the seller. Some years it may have gone down.
Key Takeaways: Dues have doubled on one bedroom units – in 13 years.
Zestimates are just a guess and could be high or low
Different Guesstimates on price:
| List Price | Zestimate | Tax Record Est | |
| #296 | $355,000 | $370,167 | $339,589 |
| #274 | $359,000 | $374,879 | $320,000 |
| #16 | $395,000 | $374,870 | $357,385 |
Why the different price guesses? Zillow makes a good guess but the process is totally automated based only on bare bones sale info. They may not factor in if there are substantial upgrades, updates in a condo. Zillow won’t know the prime locations in a complex. They are high compared to the list price of the one bedrooms. I have often found the tax record estimates (by the county tax recorder) to be closer to the real value. I have also seen the Zestimates by Zillow to be extremely low at times.
We don’t have a high volume of similar sales of condos in the Monterey Peninsula area. Hacienda Carmel is one of the bigger complex with 300 units. Most complexes are considerably smaller. Zillow and the Assessor’s office will continually adjust their estimates as more condos sell. The zestmates will change, when these three condos close,
Take the guess work out of selling or buying your condo – Call Eileen at: (831) 277-9939
