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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

Early Cardiff

A piece of coastal North County’s history from the early 20th century will be preserved, thanks to an alert citizen, some conscientious construction workers, and the cooperation of regional authorities.

In conjunction with the placement of a second track along the railroad that runs along California’s coast, the San Diego Association of Governments is overseeing the installation of a segment of the corridor’s regional biking and hiking trail in Encinitas’ Cardiff-by-the-Sea community.

Encinitas resident Ron Dodge, a student of the region’s railroad history, has been observing the rail trail project’s progress with particular attention to its path through the site of the old Cardiff train station.

The depot, which opened in 1913, and halted operations in 1921, was situated along the east side of the tracks just north of what today is the intersection of Chesterfield Drive and San Elijo Avenue.

On June 30, Dodge said, he observed that workers had uncovered a concrete slab at the site, which he believed was a remnant of the old station. He immediately contacted city officials, including Councilman Tony Kranz, who is also a railroad buff, and Mayor Catherine Blakespear, to get their help in verifying the discovery.

“I was pretty sure, but I was hedging my bet until I talked with Catherine and Tony,” Dodge said in an interview along with Blakespear at the site last week. “I wanted to obtain some additional details because you never can be too sure. It’s very exciting to uncover an artifact from the past.”

Blakespear is the city’s representative on the board of directors for the government association, and she worked with administrators there on preserving the slab.

Once its significance was confirmed, association administrators agreed to redesign and reroute the trail so the remnant of the station can be preserved.

“They were willing to put together a different design to preserve this, and I’m really grateful for that,” Blakespear said.

Fortunately, Blakespear said, the workers clearing the site left the concrete structure undisturbed.

Link to Full Article

Posted by on Aug 13, 2018 in Cardiff, Jim's Take on the Market | 5 comments

Inventory Watch

I mentioned that Lawrence Yun should talk to some realtors because he could do a better job explaining the dynamics about the inventory.

He keeps saying that there is an inventory shortage, but the number of houses for sale between Carlsbad and La Jolla today is at the high point for year.

They’re just expensive.

In mid-August of 2014 we had 135 NSDCC houses for sale that were listed under $800,000.

Today we have 14!

The number of houses for sale usually peaks in July or August, so the inventory should start to unwind from here as sellers pack it in for the year.

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Posted by on Aug 13, 2018 in Inventory, Jim's Take on the Market, Market Buzz | 0 comments

NYC Primer

Hopefully we will be getting an occasional glimpse of what it’s like for Kayla to be selling real estate in Manhattan.  The vertical living couldn’t be more different than what we’re used to around San Diego – she’ll never see another tract house with two-car garage and a yard!

She’ll be starting on the ground floor, literally and figuratively, but eventually she might get to see a few like this – thanks daytrip:

Posted by on Aug 12, 2018 in About Kayla, Interesting Houses, Jim's Take on the Market, Kayla Training | 2 comments

Proposition 5

I’d sure like to see the research that makes the C.A.R. think this idea will bring a flood of inventory because Prop 60/90 already cover this issue.  The realtor bashing alone might be enough to sink this proposition:

Would it be a merciful end to the “moving penalty” or a giveaway to rich homeowners and real estate agents?

Proposition 5, which California voters will decide on this November, allows homeowners age 55 and up to receive a major break on their property taxes when they move homes. Sponsored by the California Association of Realtors, the initiative attempts to address a problem familiar to many Californians of a certain age: You want to move from your empty nest, but you’re scared of the new taxes you’d have to pay on a downsized property.

That dilemma is a byproduct of Proposition 13, the landmark 1978 initiative that capped how much local governments can levy homeowners on escalating home values. If you bought your home in 1988, you’re still paying property taxes based of the value of your home when the Soviet Union was still in existence. It’s a pretty great deal. But try to move into a different—and invariably more expensive—home at today’s prices, and your property taxes will jump dramatically. Those property tax bills could be tough for older homeowners on fixed incomes to afford.

“These are largely larger family homes,” said Steve White, president of the Realtors association. “If these folks were able to sell, then folks in (younger) generations would be able to purchase.”

The Realtors argue that Prop. 5 will induce more senior homeowners to sell their homes and buy new ones. Obviously that’s good for their commissions. But beyond allowing older homeowners to perhaps move closer to their children, the Realtors argue it would bring a flood of new homes to the market perfect for younger households starting their families.

Prop. 5 is opposed by local governments and public employee unions such as teachers and firefighters, who say the initiative is a costly giveaway to wealthy homeowners and the real estate industry. There are plenty of property tax protections already in place for senior homeowners who truly want to downsize. Because of a similar proposition passed decades ago, homeowners age 55 and up can buy a new home of equal or lesser value to their current property anywhere in their own county and retain their Prop. 13 property tax savings. Prop. 5 would allow senior homeowners to buy more expensive homes anywhere in California and still get a large tax break.

“What the real estate industry is really trying to do with this measure is turn the market and drive up prices so their end profit is really to their benefit,” said Dorothy Johnson, an advocate for the California State Association of Counties, which oppose the measure.

The Realtors could not have been pleased with the analysis Prop. 5 received from the Legislative Analyst’s Office, which voters will see included in their sample ballots this fall. It concludes that Prop. 5 would eventually costs local governments and schools $2 billion a year in revenue, and that the vast majority of Baby Boomers who would benefit from the initiative were likely going to move anyway. In other words, the initiative was not likely to induce a lot of people to move or result in lower home prices.

That’s partly why the Realtors have pursued a somewhat odd political strategy—while pushing for Prop. 5’s passage this fall, they’re already planning to put a very similar initiative on the ballot in 2020. That initiative would provide the same property tax breaks for older homeowners, but would also close some Prop. 13 loopholes to lessen the cost on local governments.

Link to Article

Posted by on Aug 12, 2018 in Jim's Take on the Market, Prop 13, Tax Reform | 6 comments

HGTV Brady!

The bidding for the “Brady Bunch” house got down to a horse race, listing agent Ernie Carswell said, but it was HGTV that ultimately pulled away from the pack. So, just how much did the cable network spend to secure the television-famous property? About twice the asking price.

HGTV paid $3.5 million to buy the Studio City residence, or $1.615 million more than the list price of $1.885 million. The sale closed Friday.

The home received eight offers, Carswell said.

The players included stage and television producers, corporate parties and entertainers such as singer-dancer Lance Bass, who was “heartbroken” to learn he had not submitted the winning bid.

All of them planned to keep the home basically intact.

“Every [bidder] intended to retain the front facade as a historic preservation, but most of them intended to renovate the interiors,” Carswell said. “No developer submitted a bid for the property.”

Link to Article

Posted by on Aug 11, 2018 in Frenzy, Historic Homes, Jim's Take on the Market | 6 comments

“The business model is flawed”

They charge even less in America, and you need good help to handle the load:

“Broke” real estate agents are quitting British disrupter Purplebricks in droves as the fixed-fee agency’s low-margin, high-turnover business struggles to achieve enough sales amid a slowing Australian housing market.

Research by The Australian Financial Review found at least 27 agents had quit Purplebricks Australia since March with overall agent numbers now down to 88 from 105 reported by the company in October when it filed its British interim results.

Purplebricks territory owners (franchisees) and agents, who spoke to the Financial Review, said they were struggling to make a living and were preparing exit paths after the $100,000 to $180,000-a-year salaries they were told they could earn failed to materialise.

Employment contracts show Australian agents earn just over $1000 out of the $5000 to $6000 upfront fee vendors pay when they list with the Purplebricks.

Internal sales figures obtained by the Financial Review for NSW – where the market has slowed the most – paint a picture of struggle for many.

They show that 15 agents undertook a combined 768 home appraisals between February and April, but have so far secured just 189 listings between them

While two of these agents have 72 instructions between them, the remaining agents have won between zero and 18 new listings each over the three-month period.

“The concept is brilliant, but the business model is wrong for Australia,” said former Purplebricks Newcastle agent Steve Bashford, who quit in May. “There is a big difference between what they promised us and what we achieved.”

Many other current agents and franchisees, who asked not to be named, made similar observations.

“There’s no money in it. The business model is flawed,” said a current franchisee.

“I’ve sold 50 properties in 18 months and I’m broke,” said another agent who recently quit.

Apart from the $1000 instruction fee, agents can earn additional fees if a customer arranges a Purplebricks home viewing or signs up for a mortgage with one of its partners.

However, much of this additional income has vanished as franchisees have had to hire and pay sales assistants to help clear the backlog of listings.

In addition, agents told the Financial Review, Purplebricks clawed back money from them if a customer complained and obtained a refund.

They also said the company had been “turning off postcodes” in places such as Sydney’s eastern suburbs without notice as agents battled to manage their ever-growing number of unsold listings.

According to its Australian website, since launching in September 2016, Purplebricks has secured more than 5200 listings and sold more than 3600 homes. It currently has 1563 properties for sale.

It reported a £5.1 million loss from its heavily marketed Australian business for the six months to the end of October 2017.

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Posted by on Aug 11, 2018 in Jim's Take on the Market, Listing Agent Practices, Market Conditions, Realtor, Realtors Talking Shop | 1 comment