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Carlsbad
(760) 434-5000

Carmel Valley
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jim@jimklinge.com


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Inventory Watch

field dayThe NSDCC detached-home sales count for March is currently at 215, which is 28% fewer sales than in March, 2013, and the lowest March count since 2009. The San Diego County count is 20% below last year, and if those stats are similar around the country, look for the media to have a field day speculating about the causes.

There would be more concern if the market was flush with listings that weren’t selling, but that isn’t the case. A few more listings are coming on, but this is the prime selling season and there still is very low selection.

North SD County’s Coastal Region (La Jolla-to-Carlsbad)

The UNDER-$800,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
November 25
95
$376/sf
47
1,988sf
December 2
79
$371/sf
50
2,047sf
December 9
72
$383/sf
43
1,954sf
December 16
81
$378/sf
42
1,948sf
December 23
77
$374/sf
49
1,937sf
December 30
76
$373/sf
51
1,950sf
January 6
74
$370/sf
49
1,995sf
January 13
71
$381/sf
44
1,921sf
January 20
72
$384/sf
41
1,877sf
January 27
75
$399/sf
40
1,891sf
February 3
78
$409/sf
41
1,876sf
February 10
82
$395/sf
38
1,927sf
February 17
85
$387/sf
35
1,929sf
February 24
90
$383/sf
37
2,008sf
March 3
82
$397/sf
39
1,942sf
March 10
88
$377/sf
37
2,008sf
March 17
89
$366/sf
34
2,038sf
March 24
79
$369/sf
34
2,031sf
March 31
78
$367/sf
39
2,069sf
April 7
87
$373/sf
32
2,054sf

The $800,000 – $1,400,000 Market:

Date
NSDCC Active Listings
Avg. LP/sf
DOM
Avg SF
November 25
245
$448/sf
61
2,856sf
December 2
239
$448/sf
64
2,851sf
December 9
226
$461/sf
65
2,812sf
December 16
211
$464/sf
66
2,794sf
December 23
197
$453/sf
73
2,813sf
December 30
173
$450/sf
78
2,821sf
January 6
170
$470/sf
65
2,757sf
January 13
168
$463/sf
59
2,764sf
January 20
174
$444/sf
51
2,882sf
January 27
166
$435/sf
52
2,902sf
February 3
165
$441/sf
53
2,857sf
February 10
175
$443/sf
51
2,852sf
February 17
180
$447/sf
50
2,803sf
February 24
188
$438/sf
44
2,846sf
March 3
202
$421/sf
44
2,936sf
March 10
215
$431/sf
41
2,854sf
March 17
223
$421/sf
42
2,918sf
March 24
217
$419/sf
42
2,941sf
March 31
223
$425/sf
44
2,887sf
April 7
224
$428/sf
44
2,881sf

Read More

Posted by on Apr 7, 2014 in Inventory, Jim's Take on the Market | 5 comments

Saturday Open House Report

orangeThere were enough open houses in the area that the streets of Encinitas were crawling with people today.  Thankfully, my listing was the cheapest!

I appreciate the big turnout for Padres-tickets contest too, and for 47 of the 48 guesses being higher than list price - thanks for your faith and confidence!

Here’s my open-house report, check back tomorrow:

Posted by on Apr 5, 2014 in Bubbleinfo TV, Encinitas, Frenzy, Jim's Take on the Market, Why You Should List With Jim | 0 comments

Padres Contest

The Contest for 4 Padres tickets!

The closest guesser to the sales price of my new listing at 1620 Splitrail, Encinitas, will receive four field-level tickets to a Padres game.

splitrail map

Here is the Zillow listing – Zestimate is $701,924, and we’re listed for $699,000:

http://www.zillow.com/homedetails/1620-Splitrail-Dr-Encinitas-CA-92024/52509718_zpid/

Here is the video tour:

A few photos:

1620-splitrail-drive-006_mls

1620-splitrail-drive-014_mls

1620-splitrail-drive-039_mls

1620-splitrail-drive-028_mls

We’ve seen some comps recently which may give some guidance, but all are a fair distance away.

1. This is still showing as an active listing on the MLS:

http://www.bubbleinfo.com/2014/03/31/pre-contest/

2. The $815,000 fixer that received two offers and went pending within 3 days:

http://www.bubbleinfo.com/2014/03/24/dear-frustrated-buyer/

3. The Elmview listing that didn’t make it onto the blog yet:

https://www.youtube.com/watch?v=nKaq6ms_I6Q

We’ll be having open house this weekend, 12-3 pm, so come by for a look!

Leave your guess of the eventual sales price in the comment section, and the closest will four tickets near the visitors dugout.

I don’t have season tickets, but a great friend helped me out.  The contest winner will be able to choose one game with either the Marlins, Cubs, Reds, Cardinals, Rockies, or Giants.  If one of those is your favorite team, you’d enjoy these seats overlooking the visitor’s dugout, plus the visiting-team’s owner seats are right in front of you.

This is from Opening Night, taken from the seats - Stan Kastens, president of the Dodgers, is the bald guy at the bottom-right with the rest of Dodger ownership:

dodgers vs padres

Submit your guess of the sales price in the comment section to win!!

Posted by on Apr 3, 2014 in Bubbleinfo TV, Contests, Encinitas, Jim's Take on the Market | 57 comments

Research Your Realtor

biFrom 10 Things Before Opening Bell yesterday:

Below is a Q&A with Jim Klinge, the head of San Diego-based Klinge Realty and the creator of BubbleInfo.com, a realty blog.

***

BUSINESS INSIDER: What is the most underreported story in housing?

JIM KLINGE: The health of the real estate market. We’re back to peak pricing – and higher – around coastal San Diego during the toughest mortgage underwriting in the history of the world.

BI: What is the biggest change you’ve seen since the bust in terms of the typical buyers’ profile?

JK: No change – almost all are owner-occupants.  Surprisingly, having direct access to recent sales via the internet hasn’t made buyers more critical about price.  Over the last 12 months, it’s been the opposite – people are paying prices that are 5% to 10% higher than recent sales.  Because they are so familiar with the values, you’d think they would be more discerning, but the fear of loss supersedes all – they just want to buy a house, and are tired of losing.

BI: What is the biggest mistake buyers are making these days?

JK: Not researching realtors.  They think we are all the same, so they just grab one.

BI: What is the biggest mistake sellers are making these days?

JK: Not researching realtors.  Many just grab the one who mails them the most propaganda.

BI: How much higher can the Sun Belt markets climb?

JK: The prime markets could easily rise another 10% to 20%, price-wise, in the next 2-3 years.  But it will be on very thin trading, which makes you question how legit it is, and whether it will sustain.

http://e.businessinsider.com/public/2537853

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

How/where do you research realtors?

Sellers:

  • Check the agent’s online presence - specifically, how do they present their other listings?  Are there vivid photos and actual video tours?
  • Search under ‘Find A Pro’ on Zillow, and check their number of sales, and client testimonials.
  • See if they are a Zillow Premier Agent – if they aren’t, then Zillow will advertise other agents on your house’s listing.
  • Does the agent use open houses to maximize the exposure?
  • If they have sold a few listings this year, then they have had multiple offers.  What are their specific bidding-war strategies to ensure top dollar?
  • Does your office expose and sell listings at the office meetings? (trick question here because most will answer yes, when ethically the answer should be no).
  • Who answers the phone? Excellent phone service is still preferred.

One question to ask: Can you tell me about your last bidding-war experience?

Buyers:

  • How many buyers have they represented in the last 12 months?  Getting buyers to the finish line in this hotly-competitive environment takes real skill, and the number of buyer sales demonstrates their ability.
  • Are there other agents involved – do you get passed around? If they answer yes, it isn’t a bad thing – you’d just like to know who the others are and what their skill set is.
  • Are they available 7 days a week? The market is cooking 24/7.
  • How do they position their buyers to win a bidding war?

One question to ask: “Based on my wants and needs, do you know of a couple of listings that would match?”  Not imperative, but if they can talk about actual homes for sale off the top of their head, you know you are dealing with somebody who is very active in your marketplace.

Posted by on Apr 3, 2014 in About the author, Jim's Take on the Market, Listing Agent Practices, Market Buzz, Tips, Advice & Links | 0 comments