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An Insider's Guide to North San Diego County's Coastal Real Estate
Jim Klinge, broker-associate
858-997-3801
klingerealty@gmail.com
Compass
617 Saxony Place, Suite 101
Encinitas, CA 92024
Klinge Realty
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Are you looking for an experienced agent to help you buy or sell a home? Contact Jim the Realtor!

Jim Klinge
Cell/Text: (858) 997-3801
klingerealty@gmail.com
701 Palomar Airport Road, Suite 300
Carlsbad, CA 92011


Category Archive: ‘Tips, Advice & Links’

Instant Agent

At least you get to choose the realtor, instead of getting stuck with whoever shows up. I was able to install the mobile app from the Play Store but couldn’t get it to work (I’m rocking the Pixel 2 now). Hat tip Eddie89!

You’ve hailed rides using a mobile app before, but have you hailed real estate agents on one? If not, a new tool called ArriveHome seeks to change that.

A new app called ArriveHome is looking to streamline the real estate market. Designed for buyers who don’t yet have an agent or those who want to browse a home ASAP, ArriveHome makes finding a Realtor and scheduling a showing instant and easy.

Upon seeing a home they like, buyers log onto the app, browse the many “live” agents listed in the area and choose one they want to work with based on their profile and details. Next, they can click to text or call the agent and schedule a showing on the spot.

According to Jeff Narlinger, co-founder of ArriveHome, the app will help speed up the often slow showing process.

“[We are] melding the ‘on-demand/Amazon effect‘ into real estate, giving the consumer faster, easier access to properties,” Narlinger said. “No more sign calls or long e-mail threads that do not get returned quickly enough.”

The app isn’t just for the buyer, though, Narlinger said.

“Basically, what Uber did for the Taxi Industry, in providing efficiencies and advantages that both providers and consumers never knew they needed, that’s the impact we believe ArriveHome will have on the residential real estate industry in its benefits to the home search process for both agents and consumers alike,” he said.

ArriveHome is currently available in Colorado, California and Arizona on both iOS and Android devices. The company plans to expand to Nevada and Texas next.

Link to Article

Posted by on Aug 13, 2018 in Jim's Take on the Market, The Future, Tips, Advice & Links | 0 comments

Millennials Have Regrets

We might be seeing some whipsaw effect with today’s buyers being overly cautious. Either that, or we’ve ran out of the buyers who jump in too fast or too high, and just the deliberate ones are left:

Millennials aren’t exactly jumping for joy after purchasing their homes.

About four in 10 millennials are already homeowners, according to a new survey of over 600 millennials (age 21-34) by Bank of the West.

Yet it turns out that 68 percent of them are feeling buyer’s remorse — almost double the amount of Baby Boomers who say they have regrets.

“Millennials are so eager to become homeowners that some may be inadvertently cutting off their nose to spite their face,” says Ryan Bailey, head of Bank of the West’s retail banking.

Here are the biggest areas of remorse.

Overspending on the down payment

Roughly four in 10 millennials felt they made poor financial choices when it came to purchasing their home. Part of the problem seems to revolve around the down payment. The survey found one in three millennials dipped into their retirement accounts to pay for their homes — a trend Bailey calls “alarming.”

“Borrowing from your retirement may make sense in special circumstances, but it’s definitely not a recommendation,” Bailey tells CNBC Make It.

To keep from getting squeezed, think about what you can afford as a monthly payment, and don’t forget to include taxes and insurance in your calculations, Danielle Hale, chief economist for Realtor.com, tells CNBC Make It.

Use filters on home search sites and price alerts to make sure you’re not shopping for a home above your budget. “Don’t fall in love with something that’s already out of your price range,” Hale says.

Underestimating ongoing costs

When you buy a home, the expenses don’t stop once you move in.

Millennials understand basic costs, such heating and electric bills, but Bailey recommends also considering how much time and money it could take to mow the lawn, clean the house or deal with leaky faucet.

“When you’re a homeowner, you can’t call your landlord to fix things, so you want to make sure you have a little extra cash in the bank,” Hale says.

It’s a big transition going from renter to homeowner, so make sure to take some time to learn about the maintenance costs associated with potential homes.

Settling for something that’s not quite right

Finding the right fit is as important as having the right budget when it comes to home ownership. The survey found that about half of millennials had regrets about the home itself.

One in five said they were frustrated by damages they found after moving in, while others said they discovered the house didn’t end up working well for their family.

To avoid unexpected expenses, experts recommend getting a home inspection before finalizing the sale. “Especially if you’re a first-time buyer or new to home ownership, you may not even know what to look for, so you definitely want to have the expert on your side,” Hale says.

It can also help to nail down what you really need in a home. Make a list of your must-haves before you start looking and know what you’re willing to compromise on, Hale says. It’s currently a very competitive market, so chances are, you’re going to have to make compromises.

In fact, about two-thirds of home buyers reported compromising on some sort of home characteristic, according to a survey from the National Association of Realtors.

“The more targeted your search is,” Hale says, “the more chance you won’t waste your time or get distracted by homes that ultimately aren’t a good fit for you.” Follow this advice, and you can avoid purchasing a home that you regret.

https://www.cnbc.com/2018/07/18/most-millennials-regret-buying-home.html

Posted by on Jul 26, 2018 in Jim's Take on the Market, Market Buzz, Thinking of Buying?, Tips, Advice & Links, Why You Should Hire Jim as your Buyer's Agent | 1 comment

Kids’ Influence on Home Buying

When buying a home, the opinion of children matter.  If you also add what the parents think the kids want and need, and include those variables into the home-buying decision, it would be even higher – probably close to 100%.  Centrally-located homes with big yards and pools tend to benefit:

When it comes to purchasing a new home, 55 percent of U.S. homeowners with a child under the age of 18 at the time of home purchase say the opinion of their child was a factor in their home buying decision. This is according to a new Harris Poll survey commissioned by SunTrust Mortgage, a division of SunTrust Banks, Inc. (NYSE: STI). For millennial parents between the ages of 18 and 36, the influence of children is even higher at 74 percent.

What are children lobbying for in a home? Top requests include their own bedrooms (57 percent); large backyards (34 percent); proximity to parks/activities (25 percent), schools (24 percent), friends (24 percent); and swimming pools (21 percent).

“As a parent of two kids, I know from experience that including children in the home buying process is not only fun for the whole family, but also educational for our homebuyers of tomorrow,” said Todd Chamberlain, head of Mortgage Banking at SunTrust.

Link to Article

Posted by on Jun 13, 2018 in Jim's Take on the Market, Market Conditions, Tips, Advice & Links | 1 comment

Lowball Offers

It is virtually impossible for lowball offers to succeed in the first week or two – the fresh listings get too many showings in the beginning, and sellers and listing agents are optimistic.  Wait at least a month before attempting a lower offer, and don’t be surprised if you get kicked to the curb.

From realtor.com:

Real estate pros warn against extremely lowball offers (typically more than 15% below listing price) because you might offend the sellers—even if the home’s been on the market for months. Strategize with your agent to determine both how far under listing price you’re comfortable going, and what you think the sellers might respond to.

Not sure where to start? These five signs will help you determine when the time is right for a low offer.

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Posted by on May 31, 2018 in Jim's Take on the Market, Tips, Advice & Links | 2 comments

Buy a House With An X?

This is why electronic signatures are binding. Thanks daytrip!

Does it matter what you sign on contracts? Could you draw a picture or put an X and have it still be legally binding?

With so many facets of modern life being automated, signatures being easy to forge, and given how difficult it is to prove based on signature alone whether a given person actually signed something, using a person’s exact signature “design” for verification purposes after the fact is going the way of the Dodo.

This leads us to the question of the day – given all this, is there any rule about what exactly your signature has to look like? Can you, for example, just sign all your legal documents with a big X like they do in cartoons?

As it turns out, just like it’s possible to cash those big novelty checks because there’s no rule about what a check has to look like or be made of (just what information needs to be included), you can, in many regions of the world, sign a document in any way you wish. This is because a signature from a legal standpoint is just proof that you considered and accepted something. Or to quote the U.S.’ Uniform Commercial Code  §3-401(b):

A signature may be made (i) manually or by means of a device or machine, and (ii) by the use of any name, including a trade or assumed name, or by a word, mark, or symbol executed or adopted by a person with present intention to authenticate a writing.

In other words, even if you sign a document in the U.S. and many other parts of the world with a drawing, you’re still legally bound by the terms of that document because it’s the act of signing a document that matters, not the signature itself.

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Posted by on May 1, 2018 in Jim's Take on the Market, Tips, Advice & Links | 2 comments