Menu
TwitterRssFacebook
More Links

Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Carlsbad
(760) 434-5000

Carmel Valley
(858) 560-7700
jim@jimklinge.com


Category Archive: ‘Jim’s Take on the Market’

Happy Blog Anniversary!

September 24, 2017 is the 12th anniversary of this blog!  For a little perspective on where we’ve been, here is my most-watched YouTube.

This house originally sold for $927,500 when new in 2005.

I sold it for $485,000 in April, 2009 which was the low point of the San Diego market, as judged by our Case-Shiller Index.  This year there have been sales on the street in the mid-$800,000s!

Thanks for being here all these years!

Posted by on Sep 23, 2017 in About the author, Bubbleinfo TV, Jim's Take on the Market, REOs | 1 comment

The End

Oh boy, now I did it.

It feels like change is in the air – just ask any agent who is paying attention.  But most want to shrug it off, and pray they make enough money before the SHTF.

I applaud Notorious Rob for furthering the discussion – my comments are towards the end of his post:

http://www.notorious-rob.com/2017/09/please-stop-fighting-the-last-war/

The gist of it is this – some day a game changer will come along that has the potential to commoditize the industry where we won’t need 1.2 million realtors to conduct the business.  The business will be dumbed down to just order-taking, and no realtors will be left to provide the expertise to make sure you don’t make a mistake.

It’s not that big of a deal in the travel industry.  If you make a mistake with your vacation, you learn a lesson and do better next time.  In the real estate business, one mistake can cost you big money, and/or stick you with the wrong house – or cost you the right one.

These days, I feel more like Captain Willard than Hunter S. Thompson:

Save

Save

Posted by on Sep 22, 2017 in About the author, Jim's Take on the Market, The Future | 8 comments

Hurricane Flippers

Hat tip to Richard for sending this in:

LINK

An excerpt:

Addressing a real estate conference in flood-ravaged Houston this month, longtime investor Ray Sasser detailed his strategy: buy up to 50 flooded homes at deep discounts, then fix and flip them for a hefty profit.

Sasser first followed that game plan after Tropical Storm Allison flooded the city in 2001. He bought homes for 30 to 40 percent of their pre-storm value, spent another 15 percent on repairs, and sold many a year later – at full value.

The quick recovery surprised him, he said.

“This can’t be true,” he recalled thinking at the time.

The bet that home prices in hard-hit Houston neighborhoods will fully recover after Hurricane Harvey could be riskier, Sasser and local economists said. But a rush of investors eager to snap up flooded homes reflects broader confidence in the resilience of Houston’s unique metropolitan economy.

While the region’s unchecked development has come under fire for exacerbating flooding, it also reflects its core strength: A rare combination of rich job opportunities and low cost of living, driving explosive population growth in America’s energy capital.

The surging demand has sustained home prices through four major floods since 2001 and a historic oil price crash starting in 2014. Though Harvey caused far more damage than previous storms, investors such as Sasser see plenty of opportunity in the region’s estimated 268,000 flooded homes.

Tara Waggoner, the Houston market manager for brokerage and online listings firm Redfin, said the firm’s local agents were getting about four times the number of calls they usually get from investors. They ranged from individuals looking to buy one flooded house to groups of ten or more pooling their money for a home-buying spree, she said.

“You have people with millions of dollars to work with,” she said in an interview days after the storm. “They want to go in, pay cash, get the discount and fix it up to sell.”

Read full article here:

LINK

Posted by on Sep 22, 2017 in Flips, Frenzy, Jim's Take on the Market, Real Estate Investing | 3 comments

Softer in the Off-Season

The C.A.R. released the latest sales data for August, including the graph above.

The sales-price-to-list-price ratio has been dipping in the off-season lately, and we can probably expect that streak to continue this year!

Buyers expect to have more negotiating power, and the fixers are the ones that get punished.  Sellers will be smart to do more improvements to their home before hitting the open market!

Posted by on Sep 21, 2017 in Jim's Take on the Market, Sales and Price Check | 6 comments

Surge in 65+ Population

A surge in the 65+ population will probably prolong the market conditions we’ve seen lately – those are the people who got in first, and are probably settled enough that they won’t be moving.

But those who are relying on pensions might get a surprise, and it would take an unusual monetary need like that to cause them to sell their house – or get a reverse mortgage. An interesting note – the number of HUD reverse mortgages funded in the 2017 fiscal year was the lowest since 2005.

Read full article here – thanks JB!

https://www.realestateconsulting.com/correcting-demographic-misperceptions/

Posted by on Sep 20, 2017 in Boomer Liquidations, Boomers, Jim's Take on the Market | 1 comment

Moving Out

It might get so bad that we see an occasional flurry of supply!  H/T daytrip:

More than half of California voters say the state’s housing affordability crisis is so bad that they’ve considered moving, and 60 percent of the electorate supports rent control, according to a new statewide poll.

The findings from UC Berkeley’s Institute of Governmental Studies reflect broad concerns Californians have over the soaring cost of living. Amid an unprecedented housing shortage, rents have skyrocketed and tenants have faced mass evictions, especially in desirable areas.

“It’s an extremely serious problem,” said poll director Mark DiCamillo. “People are being forced to consider moving because of the rising cost of housing – that’s pretty prevalent all over the state.”

Of the 56 percent of voters who said they’ve considered moving, 1 in 4 said they’d relocate out of state if they did.

Read full article here:

http://www.sacbee.com/news/politics-government/capitol-alert/article174026561.html

Posted by on Sep 19, 2017 in Jim's Take on the Market, Market Buzz, The Future, Thinking of Selling? | 1 comment

The Future

We got into the future of realtors over the weekend.

It started with the crowdfunding effort to raise money to build a realtor-owned portal, and the goal is $1,100,000.  But less than $200,000 has been donated so far, so it’s unlikely the effort will be successful.

It’s a good idea though!

I explained why here, and then kept it going in the comment section:

http://www.bubbleinfo.com/2017/09/16/realtor-portal-fundraising/

But talk about the future may make you wonder what will happen here.

What is the future of the bubbleinfo.com, and JtR?

While most of the house-selling industry is going to the big agent teams, I’m going to stick with the personal-consultant approach, and use this blog to help differentiate myself from the rest of the pack.

I’ll risk being seen as irrelevant, but I’ll take that chance and try to appeal to those who are curious for more data/insight about our local market.

It is astonishing how many visitors still come to the blog!  Don’t people stop reading real estate websites once they buy or sell a house?

Yet the Google Analytics above show that we’re still getting almost 5,000 unique visitors per months with virtually no promotion at all.  Even if most of those hits are the sexy internet bots, I’d be happy if we had 500 people!

Thank you for being here!

What’s Next for JtR and Bubbleinfo.com:

  • More Kayla – I’ve said it before, but I mean it this time.
  • Grow the Staff – Interviews began today to hire one more person.  Not looking for the big-team, just need more help with the little things.
  • Blog Upgrades – Work is underway to add a home-search feature, and consolidate others. Hoping to tune up the mobile access too.
  • Blog Content – This paragraph below is included in every sale, and I think it gives permission for agents to be honest and provide the transparency that is wanted and needed – not sure how far I will push it though:
  • Videos – I am more enthusiastic about videos than ever, and have been converting to Facebook Live as an alternative.  Not that many people watch the videos here, but I’ll keep them coming and hope to improve on them because they are the future.  Every blog post is automatically uploaded to that Facebook account, so if that is a preferred way for you to receive your knowledge, then like/follow the page there and you will get everything you get here, and then some!
  • Documentary Film – Today is the deadline for Sundance, and Giorgio has been screening privately to industry insiders to get valuable feedback before submitting.  We discussed last week about including some of my old foreclosure videos, so there is hope I won’t end up on the cutting room floor.

Stick around, there’s plenty more to come!

Tell your friends and family who are thinking of buying or selling to use this blog as a resource, and to employ Kayla and I to be their realtors!  I’d appreciate it!

Save

Posted by on Sep 18, 2017 in About Kayla, About the author, Bubbleinfo Readers, Jim's Take on the Market, The Future | 8 comments