What could really boost the market further would be if we had more new or newer single-story homes for sale. Baby-boomers would be much more likely to ditch the older two-story family estates and glide into a ready-set single story home – if there was just an easy exit.
If you wanted a new house under $500,000, how about Las Vegas? The home above is in Summerlin, and I’ve been there. It is a great alternative for those who don’t mind the heat!
Or if you insist on San Diego County, but might go to the outskirts?
Here are one-story new-home options for you locally:
Plus, this is the Pardee tract they sold off to Toll:
True, in order to downsize, most sellers need to leave town, but at least there are some new-home options to consider nearby.
The folks at the 55-and-over Auberge near Santaluz just wrapped up sales of their brand-new one-story homes, and it would be a good place to look for resales. Here is a tour of the Plan 3 model, which one of my buyers purchased:
The other day, an appraiser mentioned to me that he had just completed a study comparing the prices of one-story houses vs. two-story.
He had done a similar study ten years ago, and found that the premium being paid for a one-story then was about 5%.
Today, he found that the premium is about 14% – more than double!
We speculated whether it would double again over the next ten years. When you consider how short the existing supply of one-story homes is today, and that builders are still addicted to the two-story model, it is pretty easy to guess the premium will increase further!
Here’s a sample of houses sold between La Jolla and Carlsbad this year.
NSDCC Houses Between 2,500sf and 3,500sf Sold 2017 YTD
# of Stories
# of Sales
You can get a better ‘deal’ on a two-story home, but as boomers get older and unload two-story houses, that market could get glutty, and the quality one-story houses be even more sought-after.
Another video tour for an out-of-town buyer. This home was listed for $1,075,000 in September of last year, and closed for $950,000 in March, 2017. The answer to the question asked was Aviara Oaks schools:
Kayla and I will be at 7060 Via Del Charro today 12-3pm!
An authentic California Ranch on 2.79 acres in horse country! Park-like estate with a stunning single-level main house that was redesigned and extensively upgraded in 2009 – it’s like a new house! The wide-open floor plan features wood-beam ceilings, wide-plank real hardwood floors, and several sets of french doors! Pool/spa, 3-car garage, TWO detached guest houses (perfect for multi-gen), tennis court, RSF schools, & no HOA! The master suite was highly upgraded in 2016 with new steam shower, jacuzzi tub, and walk-in closet! On sewer too! Plenty of room for horse facilities with trails nearby. $2,750,000
There are already people who have decided to buy and/or sell this year, and to those folks I’ll say in advance – congratulations, and I’d like to help you!
I’d like to reach out those who are thinking of putting off the move for another month or year.
Here are reasons why you should re-consider:
The actual moving is mentally and physically taxing. Even if you have plenty of family to help sort through the junk and pack everything up, you will want to have a say in many of the decisions.
Moving to a new home almost always means getting accustomed to a new home, area, amenities, and basic things to live. You want to be on top of your game to endure that many changes.
People are buying one-story homes in advance because of the lack of supply and the pressure on pricing – demand is heavy, and supply is light!
The current administration could mess with the tax law, and tweak the $500,000 tax-free profit you have coming from your home sale.
The move is very likely to be more difficult than you think!
Recently, I had a widow move to a retirement facility after her husband had passed away (she was younger). We lamented that if they would have moved together, he would have loved the new place, and she would have had a network of friends already built by the time he passed.
If you are getting up in years, and know that you have at least one more move in you before you’re done, don’t wait too long. Seventy years old is about the latest anyone should move, and 60 years old is recommended. You want to enjoy a few years at the new spot!
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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