Menu
TwitterRssFacebook

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
More Links

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

November Panic?

If sellers were feeling a sense of panic about the market – and prices – we would be seeing more new listings hit the market.

Let’s boil it down to one simple comparison.

Are there more listings than usual coming to market?

NSDCC Listings, November

Year
November Listings
Median List Price
# Sold
Percentage Sold
2013
223
$1,159,000
137
61%
2014
267
$1,199,000
167
63%
2015
299
$1,399,000
163
55%
2016
284
$1,354,999
163
57%
2017
252
$1,600,000
162
64%
2018
292
$1,499,500

I wouldn’t be too concerned about the median list price being lower. The list prices don’t mean much, and if it weren’t for an extra 13 lower-end listings then the 2018 median LP would have matched last year’s.

More listings, longer market times, and higher failure rates are in our future – and we can handle it!

There have already been ten listings from last month close escrow – five were sold off-market – and another 54 are pending, so somebody’s buying something. Here are three examples:

1. This 2-br house sold for $1,400,000 in March, 2018, and then was advertised as a Coming Soon for $1,695,000. It closed for $1,650,000 a month ago:

Link to Listing

2. Amy and Susan sold this CV house for $51,000 over list, and closed this week:

Link to Listing

3. This Cardiff house backs to the freeway but it does have ocean view – it just closed this week for $1,950,000, which was above the high-end of the range:

Link to Listing

Here is the sales history of the same house:

If sales dropped 20%, we’d still have 80%!

Posted by on Dec 5, 2018 in Coming Soon, Jim's Take on the Market, North County Coastal, Sales and Price Check | 0 comments

Virtual Staging

This company was mentioned as a favorite of Compass agents, and this video gives a brief sampling of their products. It’s incredible what they can do!

Virtual staging improves the buyer’s first impression of an online listing, but there will be some natural letdown when they get to the home and find it’s not exactly what they thought.

But you have to get them there to have a shot at selling:

https://www.boxbrownie.com/

Posted by on Dec 4, 2018 in Jim's Take on the Market, Listing Agent Practices, Staging, Tips, Advice & Links | 1 comment

Congrats Tom!

Tom’s house in South Oceanside was one of the homes that was picked up in that market surge about a month ago.  The weather was ideal, rates were rising, there was a bit of a lull before the holidays, and we compared favorably to the other houses for sale nearby.  When another market-surge happens, let’s see if we can determine the cause (hopefully there will be others!).

The two others that went pending the same week didn’t fare as well.

  1. The house that did close escrow looked like it had to dump on price to find a buyer – but it wasn’t as bad as it appears.  The owner/agent had it listed for $829,000, and it closed at $750,000, which looks like a dramatic 10% discount. But the buyer had gone direct, and the seller reduced the price by the amount of the commission.  It was noted as such in the confidential remarks, but future buyers won’t see those and will probably consider the $750,000 as the comp price in future valuations.
  2. The other house that went pending fell out of escrow, due to mixed signals that made the buyers uncomfortable, so they cancelled.

These demonstrate how the market has changed.

Previously, the first house would have had more interest, and owner/agents would have been more patient about working the price higher.

In the second example, buyers would have been more likely to put up with some mis-direction, but there is zero tolerance now.

We had Tom’s house listed for $989,000, and we closed at $975,000.

Get Good Help!

Posted by on Dec 4, 2018 in Jim's Take on the Market, Listing Agent Practices, Market Surge, Tom Tarrant, Why You Should List With Jim | 4 comments

Inventory Watch

The more I study our local statistics, the less worried I get about 2019 – at least as far as how we compare today to previous years.

If the current active inventory was a bloated number that far exceeded previous years, there would be more concern, but we’re right in there – and last year was an anomaly.

The avg. number of NSDCC active listings for the first week of December is 859:

NSDCC Stats, First Week of December

Year
New Listings
New Pendings
Total Active Inventory of Detached-Homes
2013
25
34
870
2014
47
37
923
2015
57
42
865
2016
86
47
903
2017
45
39
700
2018
67
45
893

Obviously, the high-end is where concern should be, but here’s an example of how unpredictable the market is.

Rancho Pacifica is the high-end gated community between Carmel Valley and Fairbanks Ranch full of custom homes built mostly in the 200-2007 era.  If you like Tuscan, you will love RP!

There have only been two sales this year over $4,000,000 in RP, yet look what happened last month.  Three listings in the high-$5,000,000s went pending in November – two of them last week (click to enlarge):

Next year we should have more selection, and less predictability than ever!

Read More

Posted by on Dec 3, 2018 in Inventory, Jim's Take on the Market | 0 comments