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Steve Mast, Owner/Broker
CA BRE # 00648524
3116-B Del Monte Blvd
Marina, CA 93933
Office: 831-384-0422

Fax: 831-384-0583
Cell: 831-601-5856
mastrealty@yahoo.com


    
    

Welcome & Thank You For Visiting Mast Realty


HISTORY
Mast Realty was founded by Robert L. "Bob" Mast in 1974 and operates today through Bob's son, Steve Mast and his son Jared Mast, who continue to serve our clients in the tradition of "Service above self" that Bob was so well known for here on the Peninsula.

AGENTS
We have 4 agents, Steve Mast-owner/broker with over 40 years experience here in our area; Jared Mast, who is 3rd generation with 10 years experience carrying on the family tradition; Yang Son Smith, who has been with us  since 1984 and specializes in Commercial property and Business opportunities, and Edgar "Lee" Murray, who joined us in 2015 with over 35 years experience. Highly qualified experienced professionals with diverse backgrounds that bring a wide range of expertise to our office to better serve your needs. Go to Meet The Team to view their profiles.

OFFICE & STAFF

Sarah Denning is our highly experienced and professional Bookkeeper.
 

Our office is fully equipped with state of the art integrated network of computers and communication systems to handle all your real estate needs. We are members of The Monterey County Association of Realtors, The Multiple Listing Service, Public Record Search services, and Marina Chamber of Commerce. We are also members of the California and National Association of REALTORS and prescribe to their strict Code of Ethics. 

We have worked closely for many years to develop longstanding relationships with Title Companies, Banks, Mortgage Companies, Home Inspectors, Termite Companies, Contractors, and many other resources that will benefit your transactions in many ways.


A family owned and operated firm giving personal attention to each client since 1974.

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Serving the Monterey Peninsula since 1974

SELLERS
WE ARE THE LOCAL PROFESSIONALS! If you're planning to sell your home in the next few months, we offer a FREE MARKET ANALYSIS. This FREE service is designed to help establish your home's current market value. Simply choose Market Analysis and fill out the requested information. We will use comparable sold listings to help you calculate the fair market value of your home.

BUYERS
Click on Dream Home Finder and fill in the requested information. We will contact you with information specific to your request or you can click on the MLS search button and search the entire Multiple Listings yourself which is the most complete and up to date information on the internet. After you have found a property please contact us to obtain further information or to set up an appointment for us to show you the property.

RENTALS & PROPERTY MANAGEMENT
We are a full service property management company with residential rentals, commercial office space, and apartments throughout the Monterey Peninsula, Salinas, and North County.

WE TAKE CARE OF YOUR PROPERTY LIKE IT WAS OUR OWN

Go to Rentals to see our current offerings.

Mast Realty Blog

Marina Rotary Classic Car Show

Mark your calendars for March 23, 2019 to attend the Marina Rotary's 4th Annual CARS IN THE PARK classic car show. Open to all pre 1978 foreign and domestic vehicles and Modern 2 door muscle or special interest vehicles. The event will be held in Marina at the Vince DiMaggio City Park. Go to www.Marinarotaryclub.org for all the details and registration form to enter you car and more details if you would like to be a sponsor.

Buying a Home? 5 Things to Know About the New Mortgage Documents

As part of its mission to reform the mortgage industry in favor of homebuyers, the Consumer Financial Protection Bureau replaced the industry's existing lending forms with more simplified documents. These documents took effect in early October, as part of the CFPB's "Know Before You Owe" initiative.

 

Here are five things to learn about these new disclosure forms.

Four forms become two.

When applying for a mortgage, you used to receive the Good Faith Estimate and Truth-in-Lending Act statements. Before closing, you were given the HUD-1 settlement and final TILA statements.

These days, you only have to worry about two mortgage documents instead of four: the Loan Estimate, which is given to you within three days of applying for a home loan, and the Closing Disclosure, which is sent to you three days before your scheduled closing.

The CFPB says the new forms, which were a few years in the making, are easier to understand and use.

The Loan Estimate helps you better compare loans ...

One of the most important aspects of homebuying, aside from finding the right house for you and your family, is choosing a mortgage that best suits your circumstances.

The Loan Estimate makes it easier for you to compare loan offers from multiple mortgage lenders by giving you a thorough idea of the many expenses related to a loan, including:

-- Your interest rate and whether it's fixed or adjustable.

-- Your monthly payment amount.

-- What the loan may cost you over the first five years.

You get this three-page form with every mortgage application, which helps you make an apples-to-apples comparison among different loans.

... and lenders, too.

Each lender has its own set of origination charges, which include an application fee, underwriting fee and points. These charges are outlined on the second page of the Loan Estimate.

Lender fees are among the few costs over which you actually have control, meaning you can shop around for the source of your home loan. As a rule of thumb, apply for mortgages with at least two or three lenders.

'Cash to close' isn't a mystery.

The first page of the Loan Estimate lists information about the approximate amount of money you should bring to the closing table to seal the deal on your home purchase.

The "Estimated Cash to Close," as it's called on the form, includes the closing costs attached to the loan transaction. If any of the closing costs are added to your loan amount that would also be noted on the Loan Estimate.

The cash to close amount also includes your down payment, minus any deposit you made or seller credits you're given, and also any additional adjustments or credits.

Your closing costs can't vary by much.

The fees listed on the Closing Disclosure -- the form you receive three days before your closing -- may not look identical to your Loan Estimate, but the two documents should be similar.

There are three categories of closing costs: those that cannot increase, those that can increase by up to 10 percent and those that can increase by any amount, according to the CFPB.

Lender fees and the services you aren't allowed to shop for can't increase, while fees for services you can shop for, such as homeowners or title insurance, can increase by any amount. Fees for certain lender-required third-party services and also recording fees can increase by up to 10 percent.

However, if your circumstances have changed significantly since you applied for a mortgage, you will probably be given a new Loan Estimate, which would restart this part of the homebuying process.

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Real Estate News!!!

Latest Realty News from NAR

February 2019 Existing-Home Sales

  • NAR released a summary of existing-home sales data showing that housing market activity this February, bounced back and was up 11.8 percent from January 2019. Despite the month over month gains, sales of existing-homes dropped 1.8 percent from February 2018. February’s existing home sales reached a 5.51 million seasonally adjusted annual rate, the highest since March 2018.

  • The national median existing-home price for all housing types was $249,500 in February, up 3.6 percent from a year ago. This marks the 84th consecutive month of year-over-year gains.

  • Regionally, all four regions showed growth in prices from a year ago. The Midwest had largest gain of 5.4 percent followed by the Northeast with a gain of 3.8 percent. The West had an increase of 3.0 percent followed by the South with an incline of 2.5 from February 2018.
  • February’s inventory figures are up from last month 2.5 percent to 1.63 million homes for sale. Compared with February of 2018, there was a 3.2 percent increase in inventory levels. It will take 3.5 months to move the current level of inventory at the current sales pace. It takes approximately 44 days for a home to go from listing to a contract in the current housing market, up from 37 days a year ago.

  • From January 2019, three of the four regions showed inclines in sales while the Northeast was unchanged. The West had the biggest gain of 16.0 percent followed by the South with an incline of 214.9 percent. The Midwest had the smallest increase of 9.5 percent.
  • Two of the four regions showed declines in sales from a year ago and the Midwest was flat. The Northeast had the only gain in sales of 1.5 percent. The West had the biggest decline of 7.9 percent followed by the South with the smallest drop of 0.4 percent. The South led all regions in percentage of national sales, accounting for 43.4 percent of the total, while the Northeast had the smallest share at 12.5 percent.

  • In February, single-family sales were up 13.3 percent and condominiums sales were unchanged to last month. Single-family home sales fell 1.4 percent and condominium sales were down 5.0 compared to a year ago. Single-family homes had an increase in price up 3.6 percent at $251,400 and condominiums modestly rose 3.1 percent at $233,300 from February 2018.

Retail Trade Challenges and Opportunities in 2019

E-commerce continues to challenge brick-and-mortar retailers, especially department stores and sporting goods, hobby, book, and music stores. However, the retail trade sector is still facing bright prospects in growing metro areas that are attracting people, jobs, and housing. The trend towards integration of online and offline shopping, mixed-use commercial/residential development that requires a strong retail anchor, and the tax incentives for Opportunity Zone projects are factors that will support the growth of brick-and-mortar retail stores in 2019.

E-Commerce and Retail Trade Trends in 2018

In 2018, electronic and mail order sales totaled $598 billion, or 12.7 percent of the $5.3 trillion in total retail sales in 2018, up from a mere four percent of the market in 1992.[1] Electronic shopping & mail order sales outpaced warehouse clubs and super store sales ($481 billion) and department store sales ($149 billion).  Department store (excluding leased space) retail sales (think Sears, JC Penny, Marshall Field’s, Filene’s Basement, and the like[2])  have shrunk since 2000 from $231 billion to just $149 billion by 2018. Warehouse clubs and super stores (think Sam’s Club/Walmart, Costco, BJ’s) sales have risen robustly along with e-commerce sales since 2000, but sales have been overtaken by e-commerce sales since 2016.

Department stores (excluding leased departments) and sporting goods, hobby, book, and music stores have been hit the hardest, with sales contracting in 2018 for these sub-retail sector markets. In 2018, sales of department stores excluding leased space and sporting goods, hobby, book and music stores sales contracted while electronic and mail order retail sales rose 10 percent. E-commerce sales outpaced the growth of total retail sales (4.7%) and all retail subsectors except sale of gasoline stations (12.7%), fuel dealers (23.5%) and men’s clothing stores (12.7%). Men’s clothing stores appears to be doing better in the face of the e-commerce compared to women’s clothing stores (3.3%) (perhaps because it still makes sense to fit an expensive suit at the store). Jewelry store sales also still rose strongly (8.2%) (perhaps because shoppers still want to try on the jewelry before making a purchase).

Just last February 15, Payless ShoeSource announced it was closing some 2,100 stores in the United States and Puerto Rico after it had filed for bankruptcy in 2017. This brings to 4,287 announced store closings in 2019, following on the heels of 8,139 announced store closures in 2017 and 5,524 in 2018, according to CoreSight, a website that tracks the retail market.

Implication on Jobs and Income

With brick and mortar retail trade sales on the decline and e-commerce retail sales on the rise, job creation has shifted towards transportation and warehousing, which are the logistics supports of e-commerce sales.   In 2018, the retail trade sector created a mere 14,000 net new payroll jobs in 2018, while transportation and warehousing created 216,100 jobs. Retail trade job creation in 2018 slightly rebounded from the 87,900 jobs lost in 2017, although this is paltry compared to the average of 223,000 jobs created in the retail trade sector during 2012–2016.

What’s the implication of this shifting in jobs from retail to logistics for the economy and for workers? If workers can find a job quickly in other sectors such as in warehousing and transportation, their incomes are likely to be higher.[3] Retail trade workers are generally the least paid among all other major groups of workers, receiving on average $594 weekly compared to transportation and warehousing workers who receive on average $948 weekly and wholesale trade workers who receive on average $1,210 weekly (as of February 2019).

Retail Trade Opportunities  

Opportunities for the growth of retail trade varies across metro areas, creating jobs in growing metro areas that are attracting people, jobs, and housing. Factors that will support the growth of retail trade in 2019 are the trend towards integration of online and offline shopping, the development of mixed-use commercial/residential areas that require a strong retail anchor, and the tax incentives for real estate development projects in Opportunity Zone areas.

Amazon’s purchase of Whole Foods and the increasing online presence of warehouse and discount stores demonstrates the growing interconnection between online and offline (physical, brick-and-mortar) shopping.  Walmart or Target customers can now order online and have same-day delivery or pick up at a nearby store. Related Cos., the real estate developer of the Hudson Yards—New York’s biggest mixed-use commercial development that opens in March 2019—just acquired Quiet Logistics, a distribution and logistics company that specializes in catering to primarily online retailers because primary online retailers have also set up shop in Hudson Yards.[4]  Grocery stores and restaurants/fast foods are also offering online ordering and delivery companies (e.g., Uber Eats, Grub Hub) or have tied up with delivery companies (DoorDash for McDonald’s orders ).

The trend towards mixed-use commercial and transit-oriented development will continue to prop up the demand for brick-and-mortar/physical stores around which mixed-use, transit development is anchored on (e.g., Harris Teeter is the anchor for the Merrifield development near the Dunn-Loring Metro station in Falls Church, VA). The just opened 28-acre Hudson Yards in New York City has a seven-story mall, office and residential properties, a hotel, school, cultural center, parkland, and public space.[5]

The tax incentives for projects in Opportunity Zone areas is another positive factor that will support the construction of brick-and-mortar stores.[6]

The shift from ‘big box’ development to small format stores in urban areas, such as what Walmart and Target are doing in the Washington, DC area[7], also presents a growth opportunity for brick-and-mortar retailing.

To be able to take advantage of these opportunities, brick-and-mortars will need to enhance their logistics (warehouse, packaging, distribution, last-mile delivery), use technology to improve the customer’s experience at all phases of the shopping experience from product search (e.g., using visual search instead of text search) to the check-out, physical delivery, or pickup, and to understand that the physical store is a place to create brand impact and awareness.

Retail Trade Employment Still Growing in Half of Metro Areas

While the retail trade sector is facing huge challenges from e-commerce sales on a national scale, retail trade employment is still growing in metros that are attracting people, jobs, and housing construction. Of 405 metropolitan areas and metropolitan divisions[8], 47 percent created net retail trade jobs over the past three years from 2015 Q4 to 2018 Q4. Below are the top metro areas which created 5,000 or more retail trade jobs during this period.

  • Seattle-Tacoma-Bellevue, WA (39, 100);
  • Dallas-Fort Worth-Arlington, TX (14,300);
  • Houston-The Woodlands-Sugar Land, TX (10,000);
  • Minneapolis-St. Paul- Bloomington, MN-WI (9,200)
  • Atlanta-Sandy Springs-Roswell (8,600);
  • Louisville-Jefferson County, KY-IN (7,200);
  • Riverside-San Bernardino-Ontario, CA (6,900)
  • Austin -Round Rock, TX (6,000)
  • San Francisco -Oakland-Hayward, CA (5,900)
  • Jacksonville, FL (5,900)
  • Charlotte-Concord-Gastonia, NC (5,900)
  • Columbus, OH (5,600)
  • Denver-Aurora-Lakewood, CO (5,400)
  • Provo-Orem, UT (5,200)
  • Orlando-Kissimmee-Sanford, FL (5,200)
  • Nashville-Davidson-Murfreesboro-Franklin, TN (5,100)


[1] Source: U.S. Census Bureau Monthly Retail Sales, seasonally adjusted, downloaded from Haver Analytics

[2] Think of brick and mortar big names that have shuttered—Sears, Marshall Field’s, Hecht’s, Kids R’ Us, Woolworth, Filene’s Basement, Borders, Crown Books, Kaufmann’s, Linens ‘n Things, Sports Authority, Herman’s, Hhgregg, Circuit City, Comp USA, FAO Schwarz,— or have had major store closings such as Macy’s, JC Penny, Kohl’s, Lord & Taylor, and Toys R’ Us

[3] The mean duration of unemployment is 8.9 weeks in January 2019. The average duration has been on the downtrend since 2011 with the average duration at 22 weeks.

[4] Bisnow, “Related Cos Makes Inroads into Logistics to Provide Amazon Alternative”; see https://bit.ly/2T8njar

[5] Globe St. “Hudson Yards Open: Going Inside Vessel”, https://www.globest.com/2019/03/18/hudson-yards-opens-going-inside-vessel-slideshow/?kw=Hudson%20Yards%20Opens:%20Going%20Inside%20Vessel%20%28Slideshow%29&et=editorial&bu=REM&cn=20190318&src=EMC-Email&pt=NewYork

[6] Bisnow” Developers Sign Trader Joe’s for Silver Spring Opportunity Zone Project”; see https://bit.ly/2CnqwgR

[7] DC North Star “New Target Store Coming to DC”; see http://dcnorthstar.com/target-georgia-avenue/

[8] Divisions are part of metropolitan areas, so there is some double-counting of the total number of metro areas and divisions. However, when we get the share of metro areas and divisions which have negative retail trade growth to the total number of metro areas and divisions, there is no practically no double counting.

Boom or Bust for Spring Homebuying?

Home prices reached an all-time high in most markets in 2018. Homeowners benefited greatly as a result, with their overall net wealth rising by a cool $1 trillion. A typical homeowner’s wealth is estimated to have reached $254,000 while that of a typical renter stood at only $5,000.  Looking ahead, home values are poised to advance further in 2019, albeit more modestly.  However, home sales slumped badly in the closing months of last year. Persistent sales declines are nearly always associated with dampening home prices and homes sitting on the market for a lengthier time.

Read the full article at Forbes >

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Testimonials Page

I have worked with several different RE agents, in the past, but Steve is hands down the best. Imo he is everything an RE agent should be, when I called, he answered, or called back, he made sure every detail within reason, was completed correctly, so in the future, I would not be disappointed. Above and beyond, I cannot say enough, because a mere thank you is somehow still inadequate. Steve made it a great experience, understood our perspective, and explained, what we didn't understand, about others perspective. Jane and I thank you so much Steve, and are glad that we found an agent that actually cares about doing it right. We are very lucky to have found Steve, as I know the difference between, an agent working to get it right, or the alternative of, just wanting to get paid, and move on. Sincerely John and Jane
Hi Steve, I wanted to thank you, for all the help you have given me through the years. You are wonderful to work with and you have always been so nice to my Dad through the years. You are the only person we will ever work with. Thank you. Sue
Steve, thank you for your help in getting our transaction completed. Good thing we had you to guide us through. Don
How nice it was working with you and we so appreciated your guidance in getting through the paperwork. Thanks so much! Fondly, Jerri
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