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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: ‘Thinking of Buying?’

My New Listing in The Harbor Club

Are you looking for a larger downtown condo with premium upgrades, walls of glass, and close to all? Check out this 2br/2ba, 1,624sf single-level home with renovated kitchen, hardwood floors, marble and granite baths, custom sound and lighting, and extra-large MBR walk-in closet! Full resort-style amenities including lobby attendants, newer pool/spa, BBQs & picnic area, library, fitness center, & sauna. Gaze out over the tropical oasis from every room – urban living at its best!  Only $799,900!

Harbor Club Condominiums is a high-rise residential building in San Diego, California composed of two towers of equal height. The 41-story towers have a height of 424 feet (129 m) and are a prominent fixture in San Diego’s skyline. Located in the Marina district of Downtown San Diego, Harbor Club was designed by architects BPA Architecture Planning Interiors. The condos are located near the San Diego Convention Center and Petco Park. The towers are currently the eighth tallest buildings in San Diego and were completed in 1992.

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Posted by on Mar 28, 2017 in Jim's Take on the Market, Listing Agent Practices, Thinking of Buying?, Why You Should List With Jim | 2 comments

Food for Thought

Everyone loves Tony, and he is prolific at using social media to inspire people.  I respect what all three guys said below, and I’ll add: Do something!

LINK

For generations past, home ownership was a significant rite of passage that signaled stability, commitment, and, often, prosperity.

But, in this as in so many other cases, millennials are different.

As of 2015, adults under age 35 made up 19 percent of U.S. households but less than 10 percent of homeowners, according to a report released by Harvard University’s Joint Center for Housing Studies.

Entrepreneur and bestselling author Tony Robbins says that, while millennials might be missing out on the social upsides of home ownership, real estate is not the best investment they could be making.

“One of the weakest performers [is] your own personal real estate, because it doesn’t provide much income,” Robbins says. “It’s an inflation hedge. You do a little better than inflation, and you can have your own home, so there’s a psychological, emotional benefit.”

Instead, millennials in a position to buy property should be considering how to do so in a way that will provide them additional cash flow, he says.

“If you can own real estate, real estate with an income is the one [form of] real estate that’s more valuable,” says Robbins.

Opinions on the imperative of millennial home ownership vary.

Self-made millionaire Grant Cardone tells CNBC that home owners are forced to continue to spend unceasingly, and that he regrets buying a house at age 30.

“Unless you have 20 million bucks in the bank, in cash, you have no business buying a house,” says Cardone.

In personal finance classic “Rich Dad Poor Dad,” author Robert Kiyosaki notes that houses should be viewed as a liability, as opposed to an asset, and points out that it’s not a given that a home will appreciate in value.

“I am not saying don’t buy a house. What I am saying is that you should understand the difference between an asset and a liability,” Kiyosaki writes. “When I want a bigger house, I first buy assets that will generate the cash flow to pay for the house.”

Posted by on Mar 26, 2017 in Jim's Take on the Market, Thinking of Buying?, Tips, Advice & Links | 10 comments

Home Buyers – Prepare for Battle

An article from cbsnews.com – get good help!

http://www.cbsnews.com/news/buying-a-home-in-2017-prepare-for-battle/

An excerpt:

“Home buying is about substantive economics, but it’s also got an element of ‘animal spirits,’” said its President Steve Udelson. “In some of the hottest markets, we’ve seen a double-digit run-up in prices.”

The website surveyed 1,289 prospective buyers nationwide, and its findings suggested that most prospective homeowners already had their feet in the starting blocks for the spring selling season. More than half were willing to go beyond their budget — by an average of nearly $38,000 — to get the property they desired.

And like most competitive athletes, they were hopeful as well as scared. Not surprisingly, about 60 percent of those surveyed feared:

  • Bidding wars driving up the price of their dream home.
  • Losing the “earnest money” they put down when they signed a contract.
  • Becoming “house poor,” that is, unable to afford amenities like a meal out in order to make the mortgage payment.

Read full article here:

http://www.cbsnews.com/news/buying-a-home-in-2017-prepare-for-battle/

Posted by on Mar 26, 2017 in Frenzy, Jim's Take on the Market, Market Buzz, Market Conditions, Thinking of Buying? | 2 comments

Check the Master Bath

PoH

From January, 2016:

Anyone who has looked at homes lately can attest to the surprising conditions in which people live.  The lack of maintenance transcends all price points too.

But it’s nothing money won’t fix.

Buyers should surrender early on……and expect to spend at least $25,000 to $50,000 on any house they buy.  It’s easier than trying to find the perfect house that doesn’t need anything.

But looking at houses then turns into a job of making lists of the repairs required. Is there a way to short-cut that process, and just use one simple gauge to know if the house could be a money pit?

When I enter a house, I still walk straight to the backyard first.  It is there that you will find the items that are hard or impossible to fix; yard too small, road noise, neighbors looking in, over-sized pools, etc.

Once we’re past that test, and everyone is getting comfortable with the interior layout, I make my way to the place where you can find the most clues about the seller’s pride of ownership.

The Master Bath – a place where the sellers spend time every day.  The most extreme conditions exist too – high use of hot and cold water, steam and mold conditions, multiple plumbing functions, venting, several appliances in use, laundry processing, etc.  There’s a lot of action going on in the master bath!

With all the action, is somebody keeping up with repairs?

If any room is going to be well-maintained, it is the master bath.  It’s not that big, and the moving parts are simple – a towel rack, a toilet-paper roller, lighting, fan, grout, window, sinks – easy stuff.

Plus, every guy wants to keep his wife happy – so if he is going to fix anything, it will be here.

No need to get into any personal items – just checking the hardware:

  1.  Are the towel racks secure?
  2.  Toilet-paper roller intact?
  3.  Drywall outside the shower or tub wet or damaged?
  4.  Adequate electrical outlets?
  5.  Toilet secured tightly to floor?
  6.  Toilet works properly?
  7.  Sinks drain normally? (two sinks are a must)
  8.  Adequate water pressure at sinks and shower?
  9.  Fan is quiet? Window works well?
  10.  Any sign of biological discoloration?
  11.  Baseboards are dry and tight?
  12.  Mirrors look good?
  13.  Ample lighting?
  14.  Mineral deposits on glass doors?
  15.  Shampoo bottles have a home?
  16.  Solid coat of semi-gloss paint?
  17.  Crisply-applied caulk, especially around the shower faucet?
  18.  Solid and tight grout lines?
  19.  Door that locks easily?
  20.  Is the floor of the sink cabinet dry?

If you are in a hurry or tend to get caught up in the excitement of looking at houses, then just concentrate on what you see in the master bath.

If you check off every item above, then the rest of the house should be in good shape too.  But if the sellers aren’t maintaining this room that has complex features but simple fixes – especially when on the market – then they probably haven’t done much to keep up the rest of the house either.

Posted by on Mar 19, 2017 in Jim's Take on the Market, Thinking of Buying?, Tips, Advice & Links, Why You Should Hire Jim as your Buyer's Agent | 4 comments

Carlsbad Open House Sat 12-3

Here’s my new listing of a 180-degree view home in Calavera Hills, priced at $849,000.  Carlsbad has been starved for lower-end inventory, yet not everything is selling – but this view should help!

Located at the end of the culdesac and within walking distance of schools K-8, this newer Brookfield home has hardwood floors, granite kitchen, downstairs bedroom and full bath, and lush landscaping with stamped-concrete patio!

Kayla and I will have open house 12-3pm Saturday March 18th – come on by!

https://www.zillow.com/homedetails/3722-Sandpoint-Ct-Carlsbad-CA-92010/52505773_zpid/

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Posted by on Mar 17, 2017 in Carlsbad, Jim's Take on the Market, Klinge Realty, Listing Agent Practices, Open House, Thinking of Buying?, View | 0 comments

SD Spring Selling Season Starts Now

Here is a good visual aid that shows how closed sales usually jump in March – and those are sales that began in January and February.

Sales last March were 39% higher than in February!

This year, we’re coming in hot too.  Sales in the last four months of 2016 were similar to those in the frenzied 2013!

Click here for more of Rich Toscano’s work:

https://piggington.com/december_2016_housing_data

Posted by on Feb 7, 2017 in Frenzy, Jim's Take on the Market, Spring Kick, Thinking of Buying?, Thinking of Selling? | 0 comments

Move While You Are Younger

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:

  1. 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.
  2.  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.
  3.  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!
  4.  The current administration could mess with the tax law, and tweak the $500,000 tax-free profit you have coming from your home sale.
  5.  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!

Don’t wait too long!

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Posted by on Feb 6, 2017 in Boomer Liquidations, Boomers, Jim's Take on the Market, One-Story, Thinking of Buying?, Thinking of Selling? | 1 comment

Ridic

I had a buyer refer to our market as ‘ridic’, and the point is painfully obviously to anyone who has been looking to purchase a new home for months or years – the pricing seems to get more ridiculous every day.

Today’s goal is to buy the least-ridiculously-priced home!

In the last post, you could see that the government may have some ideas, but they won’t be implementing any effective relief measures for a while – if ever.

What can buyers do?

You have two choices:

  1.  Go up in price.
  2.  Compromise.

For those who have resources, going up in price is probably the easiest way to solve the problem.  Add more down payment, get a co-signer, have the seller buydown your rate, or buy more lotto tickets!

Tip for self-employed:  You can qualify for a Freddie Mac loan with one-year’s tax return.  You are getting ready to file your 2016 returns now – bite the bullet and don’t include so many write-offs this year!

The thought of compromise makes every buyer cringe – Chris Rock says that women don’t like to go backwards in lifestyle, but try to give it a shot.  A smaller home, yard, garage, or fewer other features may be worth it to stay in the same area.  Or widen the target area – consider going farther out.

There are elementary schools rated a 10 in several areas:

We know the elementary schools in the Del Mar School District (Del Mar and Carmel Valley) are all rated a 10, but they are among some pricey real estate.  But there are other ’10’ rated elementary schools in the Solana Beach and Encinitas school districts, and here are four ’10’ rated elementary schools in Carlsbad too, where, if you don’t mind driving 5-6 more exits up the 5, you money goes further!

For those who prefer no maintenance, buying a pimped-out condo or townhouse might be a better choice than an older house!

I think we could see the move-up market come alive with people who bought a temporary residence.  If you have more horsepower coming your way in a few years, buy something that will last you for now, and get the forever home later!

I’m happy to discuss your situation, and help you find solutions!

My cell phone is (858) 997-3801, call or text!

Posted by on Jan 25, 2017 in Jim's Take on the Market, Market Buzz, Market Conditions, Thinking of Buying?, Why You Should Hire Jim as your Buyer's Agent | 1 comment

Traffic Doesn’t Equal Offers 2

Don’t feel bad for that last seller – somebody will come along and pay him what he wants.  Many homes are sold to buyers who are represented by one of the new-age realtors fresh out of real estate school who work for a team.

The good veteran agents are so sick of the frustration that they’re scrambling to build a team of inexperienced agents who will do the grunt work.  There isn’t much oversight on whether the price paid is fair; instead, there is more pressure to get another sale on the board.

New and inexperienced agents get so excited about showing a new listing that if it has any shiny stuff, they go berserk and puke all over the listing agent, giving the impression that the buyers will pay anything for the house.  When I’m showing a house, people think that I’m just a boring old dude because I don’t say much.  It never occurs to them that I’m protecting my fiduciary duty to my buyer by NOT spewing superlatives.

The problem starts when listing agents don’t properly prepare their sellers for the initial onslaught – instead, they get caught up in it too, and think that all the jumping around means that offers will be pouring in any minute.

It used to be that way, but not any more.

If lookers don’t make an offer within 24 hours, they usually don’t make one.  It’s too easy to play it safe, and wait for the next one.

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Posted by on Jan 17, 2017 in Jim's Take on the Market, Thinking of Buying?, Thinking of Selling?, Why You Should Hire Jim as your Buyer's Agent, Why You Should List With Jim | 0 comments

Traffic Doesn’t Equal Offers

By now, the low-inventory/fast-market has trained the motivated buyers to be on red alert.  If a new listing pops up that looks remotely interesting, those buyers know to get over there quick for a peek.

This presents a major problem for the sellers and listing agent.

Once the parade of lookers descends upon the new meat within hours, it is irresistible for the ego to go wild, and it causes sellers and listing agents to have visions of lottery-type money.

It is so much fun, they want it to last forever! They are so excited!

Savvy buyers know that if this is THE house, they need to make an offer promptly.  It makes the equation quite simple – sellers will receive offers from the motivated buyers within the first 2-3 days.  All you have to do is counter for every buyer’s highest-and-best offer, and by Day Four the buyer who will pay the most will emerge.

But what usually happens?

The overly optimistic buyer-agents get all giddy and tell the listing agent that they think they will be making an offer.  But a funny thing happens to buyers once they roll down the street for a couple of blocks – all the reasons NOT to buy that house come up, and most buyers talk themselves right out of it.  At least half of the people who threaten to make an offer never do.

What if you are a motivated buyer, and make a great offer in the first 1-2 days?  It happens regularly that sellers and listing agents will pooh-pooh a great early offer, and hope that there are two in the bush.

What can buyers do?  You only have one option, and that is to walk away if you don’t get a response by the time the offer expires.  At least if you threaten to quit, it should hopefully get their full attention.

Sellers and listing agents think that lots of visitors = lots of offers.  But most visitors don’t offer – they’re just visiting.  In virtually every case, the no-offer rate is at least 90%, but sellers ignore that and are convinced there has to be two or more in the bush.

Here’s today’s example:

The seller paid in the low $700,000s in late-2012, and didn’t add anything but lipstick since. We initially offered $1,275,000 last week, and sure got the feeling that we were getting shopped around – the listing agent kept reminding me that there were other offers expected.  So we put a deadline of 1:00pm today to accept our $1,300,000 counter-offer.  Two hours after our deadline, the seller countered $1,339,000, which was just $6,000 under their first counter.  They called it their final offer, and it wasn’t a multiple-counter, so no other offers were on the table.

The sellers paid low-$700,000s, and couldn’t live with $1,300,000 – they had to have an extra $39,000, or the deal was off.

My buyers stuck to their guns, and instead we were off to a new listing that was priced well under this one.

Get Good Help!

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Posted by on Jan 16, 2017 in Bidding Wars, Jim's Take on the Market, Market Buzz, Thinking of Buying?, Thinking of Selling?, Why You Should Hire Jim as your Buyer's Agent, Why You Should List With Jim | 2 comments