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Jim Klinge
Cell/Text: (858) 997-3801
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011

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Trendy Tuesday – Saving on Home Decor

I stumbled upon this article on Architectural Digest and really wished I thought of this years ago. Some people really just love their Restoration Hardware and Pottery Barn furniture/decor. But honestly if it wasn’t for those steep prices, who WOULDN’T love those stores?! They last forever, they look so nice and fancy but when you turn over that price tag, GAME OVER. Well get ready ladies and gents because I’m about to blow your mind.

This article taught me that I need to check out the kids’ department. YUP. Once I became a teenager/young adult, I said goodbye to all that kid stuff and said hello to the adult department stores! Now of course this wouldn’t work in clothes/shoes, but when it comes to bedding, furniture, etc. this life hack will save you lots of money.

And no I’m saying you should have butterflies and flowers all over your bedding but if you’re looking for a basic white or pink duvet cover, check out the kids’ department! They have so many options and it costs half the price! At Restoration Hardware, the bedding goes up to a queen size! (Who is buying their 5 year old a queen bed is the real question.)

This article showed how you can use an old toy bin as your new trendy hamper. Who would’ve thunk it?! Shop from rugs to bedding to curtains etc! Check out more information on the article below!

Happy shopping!

Posted by on Jan 16, 2018 in About Kayla, Trendy Tuesday | 0 comments

Alan’s Take on 2018

Written by Alan Nevin, director of Economic Research at Xpera Group. His consulting practice focuses on valuations, development strategy studies and forensic services.

Link to Article

I like 2018.

It’s going to be a good year. I guarantee it.

Let’s look at the big U.S. picture:

   – Interest rates will remain low;

  – Oil prices are stable and will remain so;

  – The U.S. will add 2.5 million persons (as usual) and

  – Our nation will add 2 million-plus jobs.

  – And the unemployment rate will be 4 – 4.5 percent, again;

  – The rate of inflation (urban dwellers) will again be less than one-fourth of 1 percent (exclusive of home prices)

  – Finally, job openings will continue to rise. In January 2011, U.S. job openings totaled 2,939,000. Now they are at the 6 million-plus level, a 10-year high mark.

And let us always remember that one of our president’s key concerns is ensuring the continuing rise in value of his family’s hotels, commercial space and apartment projects. He knows that low interest rates, pro-real estate legislation and taxation and a strong economy benefit him and his families (and, of course, others).

Focusing on population: 47 percent of all the population gains in 2018 will be in California, Texas and Florida. Hurricanes, floods, earthquakes, fires, pestilence. Doesn’t seem to make much of a difference: The big three just keep on growing.

And then, there’s the housing market:

This year will be the strongest housing market in a decade in terms of total residential units permitted. And that’s good. However, single-family production is still meager. The 2004-2006 average production of single-family homes nationwide was 1,558,000 units. In 2017, it will be 850,000, about half of the 2004-2006 level. We project the 2018 total to rise to the 900,000-950,000 level, and that’s pretty good. What we are unable to incorporate into our projections is the total number of replacement units destroyed by hurricanes, floors and fire.

The San Diego Economy – 2018

San Diego County’s demographic profile doesn’t change much from year to year:

In 2018 the County’s population will top 3.3 million, up another traditional 30,000 or so. It’s an educated group of folks: 23 percent of persons over 25 have a bachelor’s degree and 14 percent have advanced degrees. Now, admittedly, that doesn’t compare to San Mateo County where their 50 percent with college degrees pales our 37 percent, but it’s pretty good in my opinion.

From an ethnic standpoint, we have a pretty steady mix of Hispanics (30 percent); Asians (12 percent), blacks (6 percent) and non-Hispanic whites (46 percent).

And we’re young (at least some of us). Our median age in the County is 36 and only 13 percent of the population is over age 65.

And we do add jobs rather regularly. In the past five years, we have averaged 30,000 new non-farm jobs annually, and I am delighted to note that the construction industry has added 27,000 jobs in past five years and is now at 81,000 jobs.

I do not anticipate a major uptake in new jobs. Non-farm jobs will most likely increase by 16,000 to 20,000, somewhat less than in past years. A shortage of labor may have something to do with the lack of ebullience in new job formation

In terms of residential construction, it should be a fairly stable year. In 2018, the County’s developers will produce some 4,000 single-family homes and 6,000 multi-family units. Multi-family includes both rental and sale product, everything from townhomes to high-rises.

The 10,000-unit count is largely made possible by the folks in eastern Chula Vista, where the three major landholders (HomeFed, Baldwin and Millenia) will be providing a substantial amount of shovel-ready dirt.

Posted by on Jan 16, 2018 in Forecasts, Jim's Take on the Market, Market Conditions | 0 comments

Back in the REO Days

The old videos have been stored away, but every once in a while there is a reason to go back and find something special.  This wasn’t it, but it was probably the closest to the beach of any REO that I sold.

This REO garnered four offers when it hit the open market in January, 2010. The first one bailed due to the bank’s requirement to waive the appraisal contingency, so the second buyer got it! Two years later he sold for $595,000, and then just 15 months later it sold for $770,000.

Back in 2004 it had sold for $735,000.

The Red team is valuating it at over $1,000,000 today.

Posted by on Jan 15, 2018 in Bubbleinfo TV, Jim's Take on the Market, REOs | 0 comments

Towards the End of Cycle?

Predicting the future is hard. If it weren’t so challenging, we would all be super rich because we could predict winning Powerball numbers.

However, some people do take a crack at it — not predicting lottery numbers — but peering into the future to see what kinds of changes are likely on the horizon.

Christopher Lee, president and CEO of Los Angeles-based CEL & Associates, is one such person. His expertise is real estate, and he recently offered some insights into the future at a meeting of NAIOP San Diego.

For some time, he’s been predicting that we are getting close to seeing the real estate cycle to begin trending downward. We’re in the seventh inning, he’s said.

How does he know this? Real estate follows a familiar pattern, he said. He’s written on the subject in a paper called, “Real Estate Cycles: They Exist … And They Are Predictable.”

He writes: “Most real estate cycles have begun around the third year of a decade (1973, 1983, 1993, 2003) and usually end by the eighth year of that same decade (1978, 1988, 1998, 2008).”

And what year is it?

Yikes! It’s 2018!

That’s not all he sees. He predicts that the number of real estate brokers will fall by as much as 50 percent within a decade. They will be replaced by strategic business advisors.

And why is this? Because more and more people get their real estate information from online sources, such as Google. Brokers aren’t as necessary.

Lee believes the nature of the workforce itself is transforming as well.

“Work is being redefined,” said Lee, noting that we are moving toward an age when freelancers (from Airbnb hosts to Uber drivers) could thrive and where work will start to follow the worker and not the space. Although he expects some 10 million or more jobs to be lost to robotics, he said specialists and niche entrepreneurs with flourish in this new world of real estate.

Read More

Posted by on Jan 15, 2018 in Forecasts, Jim's Take on the Market, Market Buzz, Market Conditions, The Future | 5 comments

Kemp Back On Market

Matt Kemp, who is back with the Dodgers following an offseason trade, has put his mansion in the Heritage Estates, a guard-gated community in Poway, back up for sale. The asking price is $7.95 million.

Features of the 15,884-square-foot home, which Kemp has spent about $3 million to update, include custom travertine floors, a cigar lounge with a humidor and a 1,200-bottle wine cellar with a tasting room. A custom home theater is outfitted with tiered seating and a snack bar.  It also has a tennis court, a separate pool/guest house with a gym and a roman spa, plus an infinity-edge swimming pool on about 4 acres of grounds.

The estate was headed for the auction block last year before the slugging outfielder elected not to proceed with the sale. He bought the San Diego County property in 2013 for $9.075 million, records show.

Zillow listing LA Times article

Posted by on Jan 15, 2018 in Jim's Take on the Market, Local Flavor | 5 comments