The house I had listed in Carmel Valley closed yesterday for $1,080,000. We hit the MLS on the morning of Thursday, April 5th, and the marketing began right away with YouTube video on the blog, the 48-hour Facebook ad (above), and open house on the weekend.
Carmel Valley has been the hottest market in North County, so it was no surprise that we were getting 300+ hits on the ad and on the Zillow page.
The only offer was submitted on Tuesday, April 10th, and we questioned whether to counter at $1,090,000, or just accept the $1,080,000. We used this graph below to help decide it – the phone wasn’t ringing, and the Zillow views were dropping quickly:
My sellers signed the offer.
The initial urgency around a new listing dwindles faster than ever, and it doesn’t get better later, unless other higher-priced new listings happen nearby.
Is it a sign of a slowing market? Or just the reality of real estate sales in 2018?
Buyers have ample internet tools, and are making decisions in an instant.
Carmel Valley’s One Paseo will have 60 affordable units among the 608 apartments being built (no prices announced yet). The processing of the development began in 2009, and the final project ended up being roughly one-third the size of the original proposal. The retail shops and restaurants are expected to open by the end of 2018.
A wrap-up on the Sunday traffic, plus a look at the only other house listed for sale south of the 56 in the prime Del Mar school district near my price – the others are at least $100,000+ higher. The last clip is a sample of the drone guys doing the interior:
Of the fifty-two Carmel Valley houses listed for sale this year that are located south of the 56, my listing yesterday is the fourth least-expensive, which should help to propel the sale.
We saw the house with a pool that closed on March 15th for $1,197,000. But the most interesting comp is the house on Vereda Luna Llena that listed on March 20th for $1,150,000 ($51,000 higher than mine):
It has has similar square footage, backs to the same street, and has a detached garage in back. The yard is larger, but you also look at power lines too – and it went pending in 6 days:
This 2,259sf house closed for $1,197,000 on March 15th, which was $12,000 over list price. The interesting part was when I went downstairs, there were buyers peppering the listing agent about making an offer on the spot – but the eventual buyers were represented by an outside agent/office. Glad to report that there are other ethical agents!
You can still buy a 2,096sf house in the $600,000s today; you just have to go to Oceanside. Here’s an example of a house that just closed for $620,000, and though it does back to a busy road, you do get a 3-car garage!
Meanwhile, the value of the Carmel Valley house is around $1,000,000 today.
A video tour of affluence – three shopping centers in full-upgrade mode, plus more on the new homes around Carmel Valley this year. With this much action, it is hard to believe we’ll have any trouble selling the limited amount of homes for sale in 2018 – as long as the kooks don’t nuke!
Here’s the video tour of the model homes from February:
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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