Today is November 4, 2008, Election Day. In 77 days a new President of the United States will be sworn in. I believe this transition period represents the opportunity of a generation for buyers of homes in Carmel, Pebble Beach and on the Coast. It is certainly the most significant buying opportunity that I have experienced in my 30+ years doing business in the Carmel area. My reasons and argument follows:

1.    A time of uncertainty. Great opportunities are to be found in times of uncertainty. You have to be able to “stop your world and see.”

2.    Year End timing. Sellers expectatations are low at this time of year. Buyers are few in number and there is an open playing field for a buyer who is determined to be a player.

3.    Early signs of market change. Numbers of sales of homes in California were up 95% in Sept 08, vs. Sept 07.  During the most three turbulent weeks in the October stock market, 9 homes sold in Carmel and 6 homes went under contract.

4.    A contrarian’s dream.  The great majority of buyers are still on the sidelines, and when it comes to economics and trends, the majority is usually wrong.

5.    A leveraged marketplace. The Carmel, Pebble Beach and ocean front areas are a very small market. It only takes a relatively small change in buyer sentiment to have a massive impact on our marketplace.

6.    Close enough. It may be the bottom of the market. Then again, it may have a bit to go. But in any event, it sure is close enough. Trying to pick the exact bottom usually means action is never taken.  After all, no one rings a bell at the bottom.

7.   Its all about time. Time is the stuff of life. Understanding time means “promises kept.” At the end of our lives we cherish our time, not our money. As the Rabbit said, “I’m late, I’m late, for a very important date.” Alice understood. I have it on good authority that she has several pieces of small candy that say “Buy Now”.

Good luck and don’t be late.