Want to hurry up with that empty nest? From cnbc.com:
A New York state judge has backed a couple’s battle to kick their 30-year-old son out of their home because he has not contributed toward household expenses or helped with chores and they wanted him to get a job.
New York State Supreme Court Judge Donald Greenwood on Tuesday ordered Michael Rotondo to leave his parents’ home in the town of Camillus, about 200 miles northwest of New York City, according to Anthony Adorante, an attorney for the parents, Mark and Christina Rotondo.
Adorante declined further comment on the decision, which ended a four-month family battle.
In court documents, Michael Rotondo referred to a “common law requirement of six-month notice to quit” before a tenant may be removed.
“I just wanted a reasonable amount of time to vacate, with consideration to the fact that I was not really prepared to support myself at the time where I was served these notices,” the younger Rotondo told local CBS television affiliate WSTM.
The full-blown frenzy we enjoyed in 2013 has been cooling off ever since, and I think we can call today’s market a bit soft. Home buyers are gradually gaining more power and control of the outcomes, and as we saw yesterday in the Inventory Watch, the unsold homes are starting to pile up.
There are signs of a slowdown everywhere – even on the MDLNY. They squeezed some market truth in at the 1:25-minute mark here:
Though they were talking about swanky NYC property, we have seen our higher-end inventory growing constantly too (today there are 512 NSDCC houses for sale listed over $2,000,000, when there were just 430 two months ago).
But now the lower-end is starting to feel it too.
You won’t see it on the official days-on-market metric of sold properties because those are the listings that dodged the bullet. It will be the rising count of active (unsold) listings that reveal the struggle.
How do you know if a listing agent is feeling it too?
Signs That A Listing Agent Might Know the Market Is Soft:
They’ve Sold A Few Listings in 2018 – Listing agents who are actively engaged know that the market has changed, and that fewer inquiries/offers are the norm.
Their Listings Are Sharp – Listing agent who are aware of a softer market know they must include excellent professional photos and video in their listings, and the listing remarks make you want to go see the home.
Showings Available Immediately – The initial urgency of a new listing dissipates faster than ever, and a good listing agent wants to take advantage – they won’t make you wait days or weeks to see a house.
No Extra Hurdles – We see listings loaded up with extra demands like having to include special forms or procedures just to make an offer. In a soft market, listing agents should make it easy to buy the home.
Decent Commissions – A softer market is no time to be lowering the buyer’s agent commission – there are too many other homes to show and sell.
Pushing The Product – To keep the urgency higher, a good listing agent is implementing every possible marketing tactic available. If you see a listing where the agent isn’t making any effort, you know they didn’t get the memo that the market is soft.
Buyers have enough reasons to be concerned about the homebuying experience (higher mortgage rates, rampant fraud and deceit, and significantly higher prices), and they won’t tolerate an ignorant listing agent who doesn’t recognize a shift in market conditions. It is too easy to wait-and-see now.
Get Good Help!
We’ll explore this topic more in the coming days and weeks!
Another strong week of new listings (115) but the new pendings (63) didn’t follow along – instead they dropped 20% from the previous week. As we roll into the Memorial Day weekend, graduation season, and 5% mortgage rates, we might be seeing the peak of the market for 2018.
The higher-end market has been sluggish all along, and now the lower-end inventory is starting to show a bit of a plateau over the last couple of months:
Another study that shows lower-income people leaving California, and rich people moving in. But what’s not examined is whether those leaving were long-time homeowners who sold their home and took a truckload of money with them to Texas:
Richard’s new listing hits the open market on Thursday, and it is stunning. Re-designed and rebuilt from the ground up over the last eleven months (with permits), virtually everything is brand new. A ten-year warranty too!
Four bedrooms, three-and-a-half baths, and 2,421sf with commanding ocean views from both levels. New roof, HVAC, decks, siding, flooring, and kitchen! $1,575,000 – open house 11-2 on Saturday, May 19th.
Klinge Realty CA DRE #01388871 Richard Morgan (619) 200-3844.
Lynyrd Skynyrd: Last of the Street Survivors Farewell Tour is coming to the Mattress Firm Amphitheatre on Saturday night, May 19th. Back in the day when we communicated by CB radios, my handle was ‘Freebird’. I’ve seen them play a couple of times, and they are exactly what you’d expect – hard-drivin’ southern rock, and a lot of fun.
My brother Dave is their biggest fan, and he’s going to the show next Friday after winning tickets. The local Bay Area radio station had Gary Rossington in studio, and had him tell a story about writing one of their songs – and the first caller who could name the song would get tickets.
Gary began the story with, “Ronnie and I walked into a bar…..” and boom, Dave is calling in with Gimme Three Steps!
We first encountered Jim back in 2010 when we were looking to move from Pismo Beach, CA to to San Diego area. We had been having a difficult time finding (1) finding a realtor and (2) being able to see a home since we were so far away. Then we found Jim. He made the process really easy – he was able to take incredible video tours of the homes and it was as if we were there touring the homes ourselves. once we found homes we really liked, we took a trip to see it in person. One of the things we really liked about Jim was that he was honest with us about the homes and advised us weather a home was a good buy or not. He was not just out to quickly sell us a house just to make a commission. He really cared about ensuring we found the right one. more “
I have followed Jim’s BubbleInfo blog from the early days of the bubble when “real estate could only go up in value” and I knew him to be a straight shooter who would not sugar coat properties nor gloss over their faults.
So when we decided to move back to California after 7 years in the more “
Jim met with us prior to listing – provided guidance on preparation, detailed information and stats regarding local market conditions. He was invaluable for providing contacts for repair and improvements that would provide return on investment. Our combined efforts, strategy and his attentativeness more “
Jim and Donna Klinge are an impressive team. They work extremely well together and back each other up, as well as their clients, along every step of the way. Their expert guidance made a tremendous difference in the experience we had, both buying a new home and selling our previous home of 40 more “
Since Zillow only allows me to write 1 review per real estate transaction, per team of agents we worked with, this is going to be a super long review.Review on Jim Klinge:
Jim Klinge is the quintessential real estate agent, the “broker’s, broker” of real estate agents. My husband and I reached more “
by Louie and Tim Cook
Jim and Donna are the BEST of the BEST! Their knowledge, professionalism, work ethic, and devotion to their trade are unrivaled. It was refreshing to have worked with a pair of professionals who truly understand the meaning of customer service, a lost art in our opinion. Despite living over 3,000 miles away on the opposite coast, Jim and Donna were with us every step of more “
Jim found me a multi family property that we purchased as an investment (Please see my review of Donna Klinge for details on how it went). But the bottom line is this: I never would have found this property, which cash flows right out of the gate, if it weren’t for Jim pointing me toward that house. It just was not on my radar, even though I consider myself a savvy real estate troll. Jim is giving of his time, and his intelligence. And he is also transparent and truthful. And I think he is funny, which is helpful in stressful situations like RE transactions. Jim and Donna have earned every last penny they made from our deal — and in fact they deserve more. And that is why I will use them for my RE transactions the rest of my life. Thank you, Jim and Donna! more “
I can’t say enough about Jim and Donna. Jim got a great price for us and negotiated well. Donna walked us through escrow, handling vendors, and negotiating everything we asked for in the request for repairs. They are know exactly what they are doing and I’ve already recommended them to two other people. more “
I followed Jim’s blog for several years and decided to contact him (along with several other realtors) when an out-of-state work relocation required me to sell my home in San Marcos, Ca. At our initially meeting, Jim spent a significant amount of time discussing pricing options, strategy, as well… more “
Honesty. Integrity. Professionalism. Dedication. Commitment. Jim and Donna Klinge hold these attributes in abundance. They have acted as both our buyer agent and our seller agent delivering highly relevant insight into local market conditions, spot-on advice to maximize the home’s value, and unparalleled management of the transaction process… more “
I cannot imagine a better experience! Jim was our broker when my husband and I bought our first house. Jim never pressured us or glossed over anything. He was patient, knowledgeable, and helped us buy our dream home. His office was detail-oriented, always responsive and we closed in 30 days! The excellent service didn’t end when we bought our house, either, the Klinges have given us excellent and fast referrals along the way. We feel privileged to have worked with such a consummate professional and appreciate how rare this level of skill is. Jim is simply the best in the field. more “
Jim and his team are top flight. He knows the market better than anyone, and his team ensures the deal goes through without a hitch. There’s always something at the last minute, but you’d never know it with Jim and his crew. I’ve bought and sold houses with Jim as my agent over the years, and I wouldn’t use anyone else. Save yourself the headaches and potential costly mistakes… more “
Buying a house is one of the most emotional,exciting, and sometimes confusing milestones you’ll reach for in your life! Being a buyer in this market can make it even more interesting! My husband and I have been looking to buy for a year, and when the time came we wanted a realtor team that would be on our team! Being that I’m a business woman and was 7 months pregnant, I wanted, NEEDED, communication, dependability, and consistency! The Klinges went so far above and beyond … more “
Jim was recommended to me when I bought my first house here in the US five years ago. He and Donna explained the whole process and it was a great experience to work with them. Not surprisingly, when my company asked me to relocate my first choice was to work with them again… more “
I have followed Jim’s real estate blog for years and by the time I got ready to sell my townhouse I felt I knew him both personally and professionally. At our first meeting he was prepared with recent comps and listings for the area… more “
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