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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


Most recent articles

Boomers Moving Out

This story is about the same as Carlsbad folks moving to San Jacinto, where you can buy brand-new houses in the $300,000s.  But boomers want to stay within range of their kids and grandkids, so any boomer-flight could be muted.

Link to Full Article

If you’re touring a model home this weekend in Sacramento, chances are the other couple over there, the ones checking out the quartz counters and sizing up the master closet, are not locals.

Emigres from the San Francisco Bay Area will comprise one-third of house hunters in the capital region this summer, real estate analysts predict.

Call it the coastal wave. It started a year ago, and it may be about to peak.

Bay Area residents are inundating Sacramento home developer websites, clicking through floor plans, watching promotional videos and signing up for email blasts, according to Kevin Carson of the New Home Company. His firm is building in El Dorado Hills, downtown Sacramento and Davis.

“I believe this summer, when the kids get out of school, we are going to see a real increase in Bay Area sales,” he said. “We haven’t really seen the wave hit yet.”

Michael Strech, head of the North State Building Industry Association, said he’s checked with other builders and guesses the one-third figure may be conservative at some new subdivisions.

The reasons are obvious: The median price of a Bay Area home hit $850,000 in April, according to CoreLogic, a real estate data company. That’s a $100,000 increase in one year.

In San Francisco, the median price hit $1.3 million. That often buys no more than a 1,600-square-foot house.

In contrast, the April median sales price for a resale home in Sacramento County was $357,000. And the median for a new home was $433,000.

In an eye-opening Bay Area Council survey this month, 46 percent of Bay Area residents said they want to move out of the region within the next few years. They cite the high cost of living, high housing costs, traffic congestion and homelessness.

By comparison, Sacramento’s sparkling new hillside subdivisions and moderately priced midtown condos are hot properties.

Retiree Marie Diaz, 59, of San Jose is among the emigres. She and her former spouse are selling their home for $2 million after a divorce.

Diaz said she found she can’t afford another Bay Area house with her portion of the proceeds.

“Prices here are outrageous,” she said. “I can’t afford to live in this area. I’d be in an apartment.”

She bought a home under construction in El Dorado Hills for $525,000. It has the same square footage as her old home, with an outdoor “California room” and a nearby community clubhouse where she will play bingo and bunco and do yoga.

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Posted by on Jun 21, 2018 in Boomer Liquidations, Boomers, Jim's Take on the Market, Market Conditions | 4 comments

Market Observations

“If the 30-year, fixed-rate mortgage rate increases to 5%, which most economists agree is likely by the end of 2018 or early 2019, the impact on the market potential would be a modest decline to 6.10 million existing-home sales, according to the model,” wrote Mark Fleming, chief economist at First American Financial Corporation, the provider of title insurance and settlement services for the real estate market.

He noted that mortgage rates are rising because of positive economic conditions, which means household incomes are also rising, which should offset any increases in borrowing costs. “The housing market is flexible and can adjust to moderately higher mortgage rates without significant impact. The likely rise in mortgage rates is not the worry for first-time home buyers, but whether they can find something to buy in today’s supply-constrained market,” said Fleming.

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Ivy Zelman on mortgage rates: ‘If rates rise, that eats into affordability’, and 5.5% on a 30-year fixed-rate mortgage would really start to concern her.

Ivy on home builders: Slightly slower spring season than normal. She says that 59% of builders are seeing price resistance from buyers.

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An agent who has been in the business for three years is sitting on a listing in original condition priced over a million dollars for more than 100 days. He told me he didn’t know what to do to get it sold.

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Another agent who has been in the business for seven years told me that she had a $1,000,000 listing sell right away, but can’t get anyone to show her two listings in the $500,000s.   She has been averaging two sales per month, but has never seen these market conditions and didn’t know what to do.  She is contemplating a new job outside of real estate.

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Kayla makes a cash offer that is a little under the bottom of the list-price range on a house that’s been on the market since March.  The sellers counter-offer full price (the high-end of the range), 30-day escrow after we already told the agent that we needed 40 days, sellers to rent back for 30 days for a monthly rental rate that is $500 under market, five days to remove contingencies, and washer/dryer not included but might be negotiable. The listing agent noted that she had a comp.

Buyer passed on it.

Posted by on Jun 20, 2018 in Jim's Take on the Market, Market Conditions | 9 comments

Stinky Divorce

Divorces can be messy – you could say this one is gross! Thanks daytrip!

The bitter divorce battle between billionaire bond king Bill Gross and his ex-wife is beginning to stink — like vomit, flatulence and dead fish.

The California moneyman, who lost his beloved 13,819- square-foot Laguna Beach home to his ex-wife in the break-up, used foul-smelling sprays to leave the place a stinking mess — and placed dead fish in the air vents, a “disgusted” Sue Gross claimed in court papers last week.

Sue Gross, who won a temporary restraining order against Bill last week, has the evidence of his foul play — empty spray bottles in the trash cans, court papers allege.

Bill Gross left the home, worth as much as $36 million, “in a state of utter chaos and disrepair,” court papers filed in a Los Angeles state court claim.

Bill’s reign of terror included not just his malodorous moves but his use of an “army of spies” to conduct “non-stop monitoring” of Sue and her family members, it is alleged.

Sue sought to clear the air about the olfactory offensive.

“The houseplants smelled foul and need to be replaced,” she added, noting that a “substantial amount of time and money” was needed to rehabilitate the property.

Included in the court filing are photos showing the alleged spray bottles behind the putrid smells — as were photos that claimed to show water damage throughout the 6-bedroom, 8-bath house. There were also photos of the severed cord to a treadmill and an art installation of cats with their facial features scratched out.

Link to Full Article

Posted by on Jun 20, 2018 in Jim's Take on the Market | 1 comment

Trendy Tuesday

Tips for a Great Kitchen

The kitchen is one of the most important rooms of the house, if not THE most important. This is the area where you put together your children’s lunches, cook the Thanksgiving turkey, or prep for your Saturday night dinner party with all your closest friends.

With that being said, a kitchen needs all the bells and whistles! You could spend a couple thousand on a kitchen, or you could end up spending $50,000+! Below are a few tips to help improve the kitchen you already have without having to go through your entire savings account!

Here are more if you want the whole article:

https://www.houzz.com/ideabooks/85692458

Outlets

1. Color-coordinate the outlets – Using a white outlet distracts the eye from the beautiful backsplash you spent LOTS of money on! You can avoid this issue by coordinate the wall plate and/or outlet with the color of the backsplash.

2. Hide your outlets with the appliance – Do we really need to see the chord dangling across the counter to plug in your toaster? Just move the darn toaster!

3. Sideways outlets – If you decide not to color-coordinate the outlets, turn them sideways so they will be less noticeable.

4. Charging station – Everyone has to charge their smart phone and iPad! Create a drawer right underneath the countertop, and make sure it has multiple outlets to keep the smart devices out of sight.

Lighting

1. Under-cabinet lighting – The main purpose of this is to show off your clean and stunning countertops! Make sure to install the light towards the front rather than towards the back. When it’s in the back, it shows off your backsplash – which isn’t a bad thing! But it then provides no light for your countertops – which is where you will be preparing your food!

2. Cabinet lighting – Typically you would install the light at the top of your cabinets but things have changed. You can now install your cabinet lighting on both sides of the cabinet to give it that “glowing” effect. This is great if you are incredibly organized. If you tend to throw stuff in your cabinets, maybe stay away from this idea.

Avoid Irritating Situations

1. Maximize space on an island – A lot of people think it would be great to have the sink in the middle of the island. Depending how long your island is, it can make the area around the sink very limiting. Try to put it at one end of the island to maximize your prep space.

2. Lid storage – I hate having to organize lids for pots and/or Tupperware. A good idea would be to create a divider in the drawer so you have your lids and your containers separated yet in the same place.

Happy Tuesday everyone!

– KK

Posted by on Jun 19, 2018 in About Kayla, Jim's Take on the Market, Trendy Tuesday | 0 comments

Purplebricks Integrity

Here’s a good example of how sketchy the discounters are being with their advertising.  It’s bad enough when they claim that they provide the same service as traditional agents, without providing any proof.

But this video – produced by Purplebricks themselves – gives you a great snapshot of their real integrity.  When asked, “Don’t I have to pay with the possibility of my property not selling”, the expert says, “No…..not really.”

But the answer is yes – you have to pay $3,699 whether the home sells or not.  It takes more prodding by the questioner to get her to deliver the right answer, but it’s still vague and evasive:

The local Purplebricks agent told us that the reason he went there was because he couldn’t hack it anymore as a regular realtor – he needed the salary to live.

If what you got for the money was transparent, the consumer would be better served. But instead, we get peppered with even more lies and deceit paid for by VC money in an attempt to win over the consumer before they figure it out.

Posted by on Jun 19, 2018 in Jim's Take on the Market, Realtor, Scams | 15 comments